On April 15th, subordinate of CSR Corporation Limited, Zhuzhou CSR Times Electric Co., Ltd acquired Specialist Machine Developments Limited(SMD) by 0.13 billion GBP (around 1.2 billion CNY). CSR hereafter holds 100% stock shares of SMD.

“We have increased our overseas investment and acquisition in recent years. By far, our overseas property has reached a total value of 11.5 billion CNY with over 5,000 foreign employees working for us. The acquisition of SMD is another milestone on the road of our internationalization.” said Mr. Liu Hualong, President of CSR.

Mr. Liu also indicated that the program—One Belt And One Road (OBAOR) brings new challenges and chances for advanced equipment manufacturing enterprises like CSR. In the future, CSR plans to be a leader not only in the field of Rail Transport Equipments, but also in the field of Ocean Engineering Equipments. He said that with this acquisition, CSR holds confidence to advance their technology in Ocean Engineering.

SMD is the second largest global supplier for deep sea robots and advanced manufacturer for submarine engineering machinery. The company takes a half of the global market in supplying submarine self-propelled ditching machinery and cable-laying machinery, while it is also the supreme supplier for submarine mining machinery. SMD produces equipments for over 30 countries and areas.

“This acquisition is a crucial step to implement of our Ocean Engineering Equipment Industrial Strategy. Later it will grow into the second largest industrial part and bring us new source of economic growth.” said Mr. Ding Rongjun, President of CSR that took charge of this acquisition.

Mr. Ding also indicated that they will turn SMD into its headquarter base for its global deep sea equipment industrial cluster. SMD will take charge of the overall technology arrangement, market management and other daily operation. This branch is responsible for introducing the deep sea robots into Chinese ocean market and gradually into other application areas such as nuclear power, tidal power, and at last establishing an industrialization base for Chinese robot equipments.