Fastener Shanghai
fastener
fastenerHomefastener
fastener
fastenerNewsfastener
fastener
fastenerfastenerBuyers' Guidefastener
fastener
fastenerStandard Searchfastener
fastener
fastenerFor Buyersfastener
fastener
fastenerFor Suppliersfastener
fastener
fastenerMagazinefastener
fastener
fastenerTrade Showsfastener
fastener
fastenerMy Officefastener
fastener
fastenerPost Inquiriesfastener
Home->Fastener News->CSR Announces Acquisition of SMDYou are the 551309 visitors
Views:4714   |   recommendation:   |   Votes:0   |   Discuss:0
CSR Announces Acquisition of SMD

Zhuzhou China South Rail Times Electric Co. (CSR Times Electric), Ltd., a subsidiary of China South Rail (CSR),on 15 April announced the completion of a £130m formal acquisition of the UK-based manufacturer of ocean engineering products, Specialist Machine Developments (SMD) Limited, the top holding company of the SMD group.

Liu Hualong, the president of CSR commented: “SMD is a global leader in its sector that brings with it deep expertise and a strong reputation for quality products. We are excited about working alongside the company to grow its operations and further unlock opportunities in the global market.”

Following the acquisition, SMD will remain independent in its business operations and the day-to-day functions will still be controlled by its original management team. A new board of directors will be set up to take charge of business strategy, investment decision-making, financial monitoring and important decisions related to government and public relations.

SMD will serve as the global headquarters for CSR Times Electric’s deepwater equipment division. At the same time, a Chinese subsidiary of SMD will be set up to develop its presence in the Chinese maritime market. In this subsidiary, SMD will be responsible for overall technology planning, market management and other daily operations.

Ding Rongjun, the president of CSR Times Electric, commented: “The acquisition of SMD is an important step in the company’s overall growth strategy to internationalize our operations. We are looking to expand beyond the Chinese railway transportation industry into new product lines with higher technical added value and SMD represented a fantastic opportunity to develop our presence in the ocean engineering equipment industry. By opening an SMD subsidiary in China, we want to establish the company as a leading supplier of remote operated vehicles (ROVs) equipment in the national market.”

Andrew Hodgson, CEO of SMD commented: “I am proud of the business SMD is today. Inflexion has been an active and supportive investor with whose help we have diversified our customer base and the markets which we serve. With the technology, market and financial resources CSR brings we believe SMD will continue its strong development.”

Source: Your Subsea News

2015/4/24 15:40:00

Related Company:  

Previous:    China's auto sales expected to exceed 25m units in 2015
        Next:    China could pass US in electric-car market, expert says

Recent Related News
Bossard Reports “Another Year of Record Results”--2019-01-12
Sundram Fasteners Q2 profit up 22% to Rs 1.10 bn, revenue crosses Rs 10 bn--2018-12-10
Anixter International Inc. Names New Member to Board of Directors--2018-12-04
Dongtai Huawei to Exhibit at Vietnam International Exhibition on Hardware & Hand Tools 2018--2018-12-03
NORMA Group with strong organic sales growth in the first nine months of 2018--2018-11-26
Lawson Products Expands in Canada--2018-11-22
BOSSARD GROUP BUYS 49% STAKE IN 3D-PROTOTYP, EXPANDS INTO 3D PRINTING INDUSTRY--2018-11-13
Caterpillar says tariffs increasing costs, stock tumbles--2018-11-05
YuYao No. 2 Standard Fastener/YuYao Biaoer: A Reliable Partner For Eyebolts--2018-11-02
Bossard Continues Sales Growth in Third Quarter 2018--2018-10-31
Strong manufacturing economy helps Fastenal's earnings--2018-10-31
Shanghai Fast-Fix: To Be the Preferred Supplier of Fastening Solutions to Automotive Industry Worldwide--2018-10-26

Vote for this news?

fastener(Very Good)
fastener(Good)
fastener(Normal)
fastener(Bad)
fastener(Very Bad)


Discuss
More Discuss...
Your Name: Anonymous

Enter the code shown:fastener0fastener

Fastener Trade Show Suzhou


China Fastener Directory
Get it FREE!
fastener
Get your CFD at the following shows:

•M-Tech Tokyo, Feb 6-8, 2019, Tokyo, Japan

•WIN EurAsia, Mar 14-17, 2019, Istanbul, Turkey

•Fastener Fair Stuttgart, Mar 19-21, 2019, Stuttgart, Germany



Show Room



Offer Product

Latest News
• Steel sector to remain resilient in 2019, says expert

• Taiwan’s Hand Tools Export is Expected to Reach New High

Buyers' Guide
Company News

• Dongtai Huawei: One-Stop Supplier of Stainless Steel Fasteners

• Shanghai Fast-Fix: To Be the Preferred Supplier of Fastening Solutions to Automotive Industry Worldwide

The Way to Enter Chinese Market
The Way to Enter Chinese Market


fastener