David Li, general manager and director of CIMC, says SDC’s existing management team will remain in post and plans are in place to consolidate the company’s position and increase export sales.
“We look forward to working with the existing management to continue its fine tradition of high quality UK-based manufacturing – and to the opportunity for further investment to help grow the business,” states Li.
“This is a significant opportunity for the company, its staff and for the future,” adds Mark Cuskeran, CEO of Retlan Group.
“We have been impressed by the approach of the new owners to the acquisition, and the company is now looking forward to a significant period of growth on a global scale.”
According to consultancy Clear International, CIMC has been working on a market entry strategy for Europe for many years.
The firm already owns a Dutch company but recently abandoned a plan to build a new trailer plant in Germany, it says. It opened a plant in Poland in October 2015.
The European trailer industry is dominated by three German firms: Schmitz, Krone and Kögel. Behind these three comes Wielton, Schwarzmüller, Tirsan and SDC.