On Monday 28 June, Invest in Denmark and the Royal Danish Consulate in Shanghai hosted a Chinese-Danish business conference under the heading “Going Overseas – How China’s New Global Companies can Benefit from Choosing Denmark” at the Nordic Lighthouse in Shanghai.
Present at the event was also H.R.H Crown Prince of Denmark and the Danish Minister for Economics and Business Affairs, H.E. Brian Mikkelsen who signed a major acquisition contract with Chinese acoustics company AAC. AAC have acquired a large stake in the Danish industry leader in optical components and technology Kaleido Technology in order to expand their European activities.
Mr Benjamin Pan, the Chief Executive Officer of AAC Acoustic says:
“This is an exciting investment for us as it complements our strategy to offer miniaturized optical components and demonstrates our technology investment commitment to expand into the optics solution, adding to our leading position in the acoustics segment.”
At the event, eight leading Chinese multinational corporations Huawei, BGI, ShangTex, Shanghai Fosun, Sinovel, AAC Acoustic Technologies Holdings Inc, EVOC and ChangAn Auto also gave brief presentations on their global strategies together with recommendations for Denmark’s future work to attract international businesses.
Eversheds, the International law firm who advised AAC on its strategic investment confirms the trend of Chinese businesses looking towards Denmark for European expansion. Copenhagen partner Nikolaj Juhl Hansen comments:
“We are currently seeing a trend of Chinese companies going global and more and more of these companies are looking for attractive investment opportunities in Denmark within all sectors. We are working on a number of other Chinese investments into Denmark at present which is a significant shift in the nature of the businesses investing into Denmark”.
About Invest in Denmark and AAC
Since 2009 Invest in Denmark have supported Hong Kong based AAC Acoustic Technologies in their investment in Danish Kaleido Technologies.
Kaleido produce camera technology for mobile phones, and were facing a capital shortage in order to proceed to the next stage of development. Chinese AAC Acoustic Technologies have now provided the required capital exceeding DKK 100 million acquiring 32% ownership – an investment that will ultimately evolve into a 100% take-over of the company.
As a result of this strategic investment, expectations are that the company will expand with an additional 15 employees in Denmark. Invest in Denmark supported AAC Acoustics throughout the entire process with information and support on framework questions, identifying additional R&D opportunities etc and arranging relevant meetings.