SDC International signs agreement with Detroit Diesel, plans for acquisition of Tatra
5 January 2000
West Palm Beach, FL, based SDC International, Inc. announced signing of a cooperation agreement with Detroit Diesel Corporation (DDC). This agreement is another step in SDC's planned acquisition and revitalization of the Czech heavy-duty truck manufacturer Tatra a.s. located in Koprivnice, Czech Republic.
The agreement with DDC provides for development of joint technical and market activities and the use of Detroit Diesel engines in Tatra trucks. In addition, DDC will support SDC marketing efforts in areas where it has a large market share and a developed service network.
Presently the Czech government has control of the shares and senior debt of Tatra, whose revenues last year exceeded $200 million and whose assets are just under $200 million.
SDC International is a publicly-traded US company initially founded to distribute and finance industrial and transportation products manufactured in former Communist countries within Central and Eastern Europe. SDC adopted a strategy of acquiring well-established industrial manufacturers with substantial revenues. SDC shares currently trade on the OTC Bulletin Board system with the symbol SDCN.
Source: SDC International