A Smith Gt Bentley Ltd (ASGB) has recently been working on a number of collaborative projects with New Long March (NLM), China’s foremost coach builder based in Beijing. We are now pleased to announce that NLM’s parent company BISLT will be investing directly in ASGB with the acquisition of 60% of the shareholding and a £4 million cash investment. A definitive agreement has been signed and is subject only to regulatory approval by the Chinese government.
ASGB will have worldwide responsibility (except in China and East Asia) to sell all ASGB and NLM products. To that end ASGB will set up a dedicated salesforce to cover outside broadcast, generators, hospitality, mobile hotels and much more. We believe passionately in the potential of mobile medical units to transform healthcare across the world and so will establish a separate medical division.
The investment from BISLT will enable ASGB to remain focused on delivering innovation to all of our clients; it will further strengthen our global ‘Smiths’ brand and will also give us the means to expand into a number of exciting new markets worldwide.
The world renowned name of A Smith Gt Bentley Ltd will continue and Simon Hare will remain in place as Managing Director and CEO. Our Frating factory will continue to be the centre of our operations and the vision is to see it expand not only as the high end manufacturer of the new company but as a centre of excellence for design and R&D.
We are confident that this exciting development will better position us to serve our markets through an extended product range, medical division and dedicated sales force.