Birds fly past the chimney of a thermal power plant as China's national flag flutters in a suburb in Shanghai in this file photo.
An unidentified Chinese consortium has made a key acquisition in Canada's manufacturing sector, purchasing privately held Valiant-TMS, which designs and builds automated production systems.
Valiant-TMS was founded as Valiant Machine & Tool Inc. in Windsor, Ont., by entrepreneur Mike Solcz in 1959 and has been owned by the Solcz family since then. It has about 1,600 employees.
Valiant's automated production systems and tooling are sold to companies in the automotive, aerospace and heavy industrial sectors.
"The resources of the Chinese consortium will assist Valiant-TMS to serve our customers in new regions and realize opportunities in expanded sectors in an an ever-changing global marketplace," Marty Solcz, chairman of Solcz Group Inc., said in a statement.
Valiant TMS now operates 27 facilities in 15 countries. Its operations include welding and assembly systems in automotive stamping facilities, tooling for plastic injection machines, machines that test for leaks and systems that ship parts to assembly lines.
The Chinese consortium was not identified, but it is based in Shanghai and intends to support the further growth of Valiant-TMS, the statement said.