70-year-old steel wire firm Manho acquires robot electronics company Shinwon
What's the deal? Manho Steel, a South Korean steel wire manufacturer with a 70-year history, has acquired 100% of Shinwon, a company specialising in industrial robot electronics and control systems. The deal, disclosed on May 15, marks Manho's push beyond its traditional steel and wire business into the robotics and automation supply chain.
Shinwon makes harness cables and electrical systems for industrial robots and automation equipment. It counts global robot manufacturers ABB, FANUC, and Kawasaki among its technology partners and has built relationships with major South Korean conglomerates.
Shinwon's revenue grew from US$6.2M in 2021 to US$16.3M in 2025 — a compound annual growth rate of 27.3%.
Why now? Industrial automation demand is surging globally, driven by smart factories, AI-powered systems, and autonomous robots. Manho sees a natural overlap between its existing cable manufacturing capabilities and Shinwon's robot control technology, making this a logical adjacency move.
A Manho spokesperson called the acquisition "a significant turning point" and said the company aims to make 2026 "a breakthrough year for earnings and shareholder value."
What could go wrong? Pivoting from commodity steel wire to high-tech robot electronics is no small leap. Manho will need to integrate two very different corporate cultures and technical capabilities. The robot electronics sector also faces its own competitive pressures, with established players and well-funded startups vying for the same customers.
The signal: This deal reflects a broader trend of legacy manufacturers repositioning themselves for the automation age. Rather than building robotics capabilities from scratch, traditional industrial firms are acquiring their way into high-growth supply chains. With factory automation spending rising across Asia, expect more deals like this — old-economy companies buying new-economy expertise to stay relevant.
Read more: venturesquare.net
