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24 May 2019

LiuGong finalises CPMS share purchase agreement

First publishedon www.AggBusiness.com
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LIU GONG-Howard Dale-1.jpg
Howard Dale, chairman of LiuGong Dressta, speaking at LiuGong Dressta's bauma 2019 exhibition press conference

Chinese construction and quarrying machinery giant LiuGong has completed its share purchase of Portsmouth, England-based Construction Plant & Machinery Sales (southeast) Limited (CPMS). In doing so, it establishes Liuzhou, China-based LiuGong’s first international retail operation.

LiuGong’s European headquarters in Warsaw, Poland, will assume responsibility for the UK based direct sales operation.

The former shareholders of CPMS will remain as directors of the business, ensuring customers a seamless business transition.

The new entity is a now a wholly owned foreign entity of LiuGong and the new trading name is LiuGong Machinery (UK) Ltd.

Speaking during the initial bauma 2019 Munich exhibition announcement of the CPMS acquisition, 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.”

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