(Publ. 26 NOV 2015) Our client Exechon and its lead inventor Karl-Erik Neumann, has since 1985 manufactured industrial robots. Now he and the other shareholders have sold the company and formed a joint company with the world’s largest defense company Lockheed Martin.

Lockheed Martin has 120,000 employees and a revenue of 45 billion USD. The new company and its factory will be located in the United Arab Emirates. The company will continue to manufacture industrial robots, and Boeing and Airbus have already placed orders. Besides Neumann, the Swedish entrepreneur and TV-celebrity Peter Settman takes place in the new company’s Board of Directors, and together the two own 10% of the new company.

We at Groth & Co have assisted Exechon and Karl-Erik Neumann in patent matters for nearly 20 years. We would like to send our congratulations and good luck wishes to Karl-Erik and his team!