Chinese demolition equipment manufacturer Guangxi LiuGong Machinery has announced that is to acquire United Kingdom-based company Construction Plant & Machinery Sales, Southeast (CPMS).
LiuGong signed a share purchase agreement to acquire the business operations of CPMS and said that it will serve as the company’s exclusive dealership for England, Wales and Scotland.
The move establishes LiuGong’s first international retail operation and is line with the company’s. While former CPMS shareholders will remain as directors of the business to ensure a seamless transition, the company said its European headquarters in Poland would assume responsibility for the direct sales operation in the UK.
Howard Dale, chairman of LiuGong Dressta, said, “The UK is an important market for us. CPMS has laid a strong foundation for LiuGong to make an impact not only in the traditional earthmoving market but also in demolition, recycling and plant rental sectors. We have an outstanding management team in place at CPMS who are true retail professionals and highly experienced in the UK construction equipment market.”
Brian Prescott, CPMS managing director, commented: “The new entity will be part of a much larger group and for our customers, this means greater financial stability, direct support from the manufacturer, a larger range of machines to fulfill our customers’ needs, as well as greater national coverage and support resources. In addition, this move will enhance resale values as the population of LiuGong machines grow.”