From AFX News Limited
BEIJING -- The Bosch Group said it has signed an agreement to acquire diagnostic equipment maker Shenzhen Wei Ning Da Industrial Co. Ltd. (Weicon) for an undisclosed sum.
The acquisition is subject to approval by the authorities, Bosch said in a statement.
Bosch said it hopes the acquisition will help its automotive aftermarket division and diagnostics business unit bolster Chinese sales.
Last year Weicon generated sales of around $3.8 million, Bosch added.
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