SDC Trailers has been acquired by Chinese trailer manufacturer CIMC Vehicles for an undisclosed sum.

Retlan Manufacturing, parent company to the Northern-Ireland based manufacturer, said that the existing management team would stay in place and plans were in place to consolidate its position and increase its export sales.

David Li, general manager and director of the board of CIMC Vehicles, said that the acquisition marked an exciting new chapter in the history of SDC Trailers.

“We look forward to working with the existing management to continue its fine tradition of high quality UK-based manufacturing and to the opportunity for further investment to help grow the business,” Li said. “The Retlan Group will represent a valuable complement to CIMC Vehicles’ portfolio and progress our on-going policy of global operations, local knowledge.”

Mark Cuskeran, CEO of Retlan Group, said that the acquisition was “an important step forward for SDC Trailers and the rest of the Retlan Group”.

“This is a significant opportunity for the company, its staff and for the future,” Cuskeran added. “We have been impressed by the approach of the new owners to the acquisition, and the company is now looking forward to a significant period of growth on a global scale.”

SDC Trailers is sponsoring Livery of the Year at the Motor Transport Awards 2016, which take place on 6 July.