Once again, Chinese companies show their desire to conquer European markets through targeted acquisitions. The McCormick factory in Saint-Dizier, a historic manufacturer of gearboxes for agricultural machinery, is taken over at the helm of the Chaumont commercial court after its liquidation on December 7. This acquisition, welcomed by the CGT and the 206 employees of the plant, will allow the safeguarding of all the posts and the revival of the activity, in particular by the export of a part of the production to China but also to Africa where the buyer, the YTO group, half-public/private, with 26,000 employees worldwide, holds strong positions. This new example of Chinese dynamism, after the acquisition of Château de Viaud (Cofco 2011), Plysorol by Longsheng (2010) or Somab by Spark (2009), demonstrates the growing appetite of Chinese companies for acquisitions of French SMEs.
For more information : L’Usine Nouvelle – 8 mars 2011 et Yto France