A new Ceredigion company has signed an exclusive multi-million pound deal with a Chinese firm to sell its heavy machinery in the UK.

Tramor Limited, in Aberaeron, says more than 20 jobs will be created as a result of the contract with the Sany Group.(600031.SH）

The firm is one of the world's largest construction machinery manufacturers employing more than 70,000 people.

Exports to China are worth £51m to the Welsh economy.

Sany's products include large cranes and road construction machinery.

The deal was revealed comes ahead of a UK-China joint economic trade commission meeting in Cardiff on Thursday.

Implications immense

"We had identified the need for an alternative brand of machinery for the UK and undertook extensive market research on possible companies," he said.

"A business colleague advised us to go to China to meet Sany which we did several times.

"It was only then that we realised the magnitude of both the Sany brand and that the manufacturing capabilities of the company were on a scale never before seen in the UK."

The first consignment of machinery and spares from Sany will arrive in mid Wales in the new year.

Some of the Chinese company's engineers will live in Wales for three years to train Tramor's staff.

Mr Lewis added: "The implications for Wales are immense as the deal has the potential to attract serious investment to both Wales and the UK as similar machinery currently available in the market start at £50,000 for a seven-tonne machine and in excess of £350,000 for a 65 tonne plus machine."

Business Minister Edwina Hart said it was quite an achievement for a small Welsh company to sign an exclusivity agreement with one of the world's largest construction machinery companies

Source:cmbol.com