Petersen Machinery has now registered and started up a Sales & Service company based in Shanghai, China.
The company, named CIDAN Machinery Trading Shanghai Co. Ltd., will sell and service Petersen Machinery’s sheet metal machines under the brand name CIDAN throughout China.
The marketed machines will be the entire machine portfolio ranging from Power Folders, Mechanical Shears, Cut-to-Length Lines, and Decoilers up to as much as 8 millimeter thickness in mild steel.
The new company, CIDAN Machinery Trading Shanghai Co. Ltd, is owned 70% by Petersen Machinery Denmark A/S and the remaining 30% by the Danish Investment Fund for Developing Countries (IFU).
The company will do both direct sales but also sell through distributors to cover a larger part of China. The company will kick-start its establishment by having a booth at the CIMES 2012 exhibition in Beijing, taking place from June 12th to 16th. The staff will be trained local Chinese employees, but the Board of Directors will have members that represent the shareholders and also external members who will bring in required knowledge of the local conditions.
Petersen Machinery is a medium-sized company with a history of 105 years, producing machines for the thin sheet metal industry at production plants in Europe. The company is headquartered in Denmark with a strong presence in Sweden.
Especially the program within power folding machines has a unique position on the market as these machines provide the users with a range of advanced possibilities which today are not known to Chinese companies within thin sheet metal industry.
Today, machines from Petersen Machinery are sold at all key markets in Europe, South America as well as in North America where the company has its own sales office.
IFU is a fund owned by the Danish government and operating on commercial terms as a minority shareholder in companies in development countries.