UCM Timber plc plans to capitalise on the growing Chinese market following its acquisition of Lignum International Hardwoods Ltd.
The purchase of Lignum has doubled the size of UCM’s hardwood business.
Lignum has worldwide supply sources, with customers based in the UK, Ireland, continental Europe and China.
UCM plans to expand the group’s Chinese business, with the assistance of Lignum, by opening an office in Shanghai within the next few months.
Mr Plews said this would export goods from China and supply into the country, with products to include logs, veneer and sawn goods. It will be managed by Igor Gruneberg, who is transferring from Lignum.
He said: “Within the next 15 years China will be as big an economy as the US. If you look at the population of China compared to the rest of the world, the country will become an even more important part of
the trade.”
Lignum will continue to operate from its offices in Croydon with its registered name unchanged, but it is now effectively trading as UCM Timber.
