Toome-based firm SDC Trailers has been bought by Chinese company CIMC Vehicles for an undisclosed sum.
The deal is for Retlan Manufacturing Limited, which includes the SDC Trailers.
The existing management team will remain in post and plans are in place.
David Li, general manager director of the board of CIMC Vehicles said: “We are delighted to have acquired the Retlan Group. The acquisition will mark an exciting new chapter in its history. We look forward to working with the existing management to continue its fine tradition of high quality UK-based manufacturing and to the opportunity for further investment to help grow the business.
“The Retlan Group will represent a valuable complement to CIMC Vehicles’ portfolio and progress our on-going policy of global operations, local knowledge.”
Mark Cuskeran, chief executive of Retlan Group, said: “The acquisition is an important step forward for SDC Trailers and the rest of the Retlan Group. This is a significant opportunity for the company, its staff and for the future. We have been impressed by the approach of the new owners to the acquisition, and the company is now looking forward to a significant period of growth on a global scale.”
The Hillhead Road company employs several hundred people, many of whom are from the Mid Ulster area.