Eight major Chinese investments in UK since Brexit
Updated: 2016-07-25 18:23
By Dai Tian(chinadaily.com.cn)
7. CIMC takes over trailer manufacturer Retlan
Deal size: 91.7 million pounds (809.3 million yuan)
Date announced: June 29
China International Marine Containers (CIMC) group announced that it has taken over Retlan Manufacturing, the UK’s leading trailer maker, at 91.7 million pounds.
The deal, the biggest within the semitrailer sector, will enable CIMC to extend its reach in the European market, the Chinese logistics giant said in a statement released earlier this month.
Retlan Manufacturing is the owner of SDC Trailer and MDF Engineering, and specializes in the production of trailers, such as flat transport semitrailers and curtain-side semitrailers. The company has plants at Antrim in Northern Ireland and Nottinghamshire in England.
Discussions started in June, according to the Shenzhen-headquartered firm. It added that despite the Brexit overhang, CIMC has made “full preparation for the outcome” and believes Brexit has no “adverse impact on the acquisition” in the long run.
A Currie European trailer manufactured by Retlan’s SDC Trailer Co is presented. [Photo provided to chinadaily.com.cn]