Jan 09, 2009. /Lesprom.com/. China's Markor International Furniture Co Ltd has acquired US Schnadig for $8.94 million. Markor International Furniture will take over the American furniture manufacturer's entire assets and its debt.
Chinese Markor International Furniture buys US Schnadig
Jan 09, 2009. /Lesprom.com/. China's Markor International Furniture Co Ltd has acquired US Schnadig for $8.94 million, Lesprom Network informed according to the China Daily.
The Shanghai-listed company said it will take over the American furniture manufacturer's entire assets and its debt. The move will enable Markor to establish a complete horizontal operation that comprises design, technological development, manufacturing and solution providing, according to a statement of the company.
Markor's acquisition is the latest example of Chinese furniture companies going after US manufacturers at what is perceived as bargain prices. Other buyers included Shandong Ruixing Investment Co Ltd.
