Truking Technology Ltd, a Chinese pharmaceutical equipment company, has acquired Germany's Romaco Group in a deal worth 150 million euros ($160 million), State-run media reported Sunday.
Romaco Group is also a pharmaceutical equipment company. It owns technology, such as powder granulation, which is among the most advanced in the world, the Xinhua News Agency reported.
"The acquisition will help China's pharmaceutical equipment industry advance into the mid-to-high level and further enhance our position on the global production value chain," Tang Yue, chairman of Truking Technology Ltd, was quoted as saying by Xinhua.
The two companies signed the deal in Frankfurt, Germany, Xinhua reported.