Russell subsidiary, Russell Robotics, signed an IPO contract with Korea Investment & Securities

[아시아경제 장효원 기자] Russell Robotics, a subsidiary of Russell (CEO Kwon Soon-wook), a domestic automation equipment company, announced on the 24th that it has signed a contract with Korea Investment & Securities as an IPO supervisor. Russell Robotics is preparing for an IPO with the goal of listing on the KOSDAQ market in 2022.

Russell Robotics has the largest domestic reference in the field of AGV (Autonomous Guided Vehicle), a type of unmanned robot. The technology that can control and operate more than 50 AGVs at the same time and self-developed software have recently been in the spotlight as a solution that can efficiently handle’inter-process logistics’, which is essential for the smart factory supply business led by the government.

In 2020, this technology and growth potential were recognized, attracting investments from Korea Investment & Securities and Timewise Investment. In addition, the company is promoting new business based on the MOU signed with global companies SIEMENS and CJ OliveNetworks.

Standard AGV forklifts and 3-way forklifts, which are currently in the final stage of development, will be used in unmanned projects such as pharmaceutical/food/freezer warehouses, where manpower input is limited. In addition, the service robot and AMR (Autonomous Mobile Robot) being developed by the company are expected to be used in various fields such as hospitals and restaurants in the future.

An official of Russell Robotics said, “Our standardized AGV forklifts and 3-way forklifts are expected to become a smart factory solution with a competitive edge in the domestic process logistics market. We plan to take the lead in activation.” In addition, he said, “We will actively seek overseas expansion through continuous cooperation with the parent company and successfully complete the listing process.”

On the other hand, Russell is the largest shareholder with a 42% stake in Russell Robotics. Russell, a manufacturer of semiconductor equipment and production automation equipment, is in the process of building a smart factory in the domestic semiconductor, electrical and electronic, logistics, food and beverage, and pharmaceutical fields through its existing production automation division and its subsidiary, Russell Robotics.

Reporter Jang Hyo-won [email protected]