NEW YORK China Gerui Advanced Materials Group Ltd. has retained Craig T. Bouchards Cambelle-Inland as an adviser for its strategic planning and expansion in North America and "around the world," the company said May 13.
"We plan to globalize our business through accretive acquisitions while continuing to focus on organic growth opportunities. During the next few years, we will create a blend of Chinese, American and European revenues, and a large and loyal international customer base," Mingwang Lu, chairman and chief executive officer of China Gerui, said in a statement.
"Mr. Lu asked me to help him expand into the North American market by helping China Gerui choose and negotiate acquisitions in the U.S. and Europe," Bouchard, chairman and chief executive officer of Cambelle-Inland, told AMM, adding that the Zhengzhou, China-based company would be looking at "converters and service centers in the United States so they can expand the distribution of their product."
The partnership should also ease Naples, Fla.-based Cambelle-Inlands move into China, aiding its ultimate goal of tackling the countrys growing pollution problem.
"We intend to lead a consortium providing electric vehicles for the inner cities in China and for the nations 800 million farmers," Bouchard said. "As an American in China, its difficult to invest efficiently and safely from a long distance. (China Gerui) can be a landing platform for important things that we want to accomplish."
Cambelle-Inland will also look at the Chinese aerospace market, Bouchard said. He resigned earlier this year as Shale-Inland Holdings LLCs executive chairman to focus on new opportunities in the China (amm.com, Feb. 26).
China Gerui has been the "pound-for-pound profit champion of the Chinese steel market for several years," with a "very large national market share in products being sold into the food and beverage and fiber-optic cable markets," Bouchard said.
As a result, Cambelle-Inland has been "following and investing" in the company "for the past two years," he said.
China Gerui makes thin steel sheets and strips and focuses on high-end, value-added finished steel products, according to its website.