EXCLUSIVE:Chinese House Brand Supplier Put In Bid For Dick Smith
A new Chinese bidder has emerged for Dick Smith.
The new bidder is Chinese Company Shenzhen MTC who supplied Dick Smith with over $150M dollars’ worth of house brand TV’s last year.
Still in negotiations for the retailer is Indian conglomerate Tata who also owns consumer electronics manufacturing plants in India, including a TV manufacturing plant who is currently looking to buy into Vizo one of the biggest suppliers of TV’s in the USA.
Shenzhen MTC was established in April, 2005.
A public Company registered on the at Shenzhen Stock Market, the Company manufactures consumer electronics at three factories in Fuyong, Shajing and Songgang in Shenzhen.
The Company only made contact with Dick Smith receiver Ferrier Hodgson last week.
According to sources the man who bought Shenzhen MTC into the bidding process is Tony Abvel Ahead a relative of former Dick Smith CEO Nick Aboud who is still listed on LinkedIn as the General Manager of International sourcing for Dick Smith.
Abvel Ahead who was responsible for sourcing and shipping millions of dollars’ worth of Dick Smith house brand stock, that is still sitting in warehouses in Australia including 3 years supply of batteries has been involved in the negotiations with Shenzhen MLC.
Former managers at Dick Smith have told ChannelNews that the close relationship between Aboud and Abvel Ahead was often questioned at the Company due to the “excessive” level of house brand orders being placed on the Dick Smith Hong Kong subsidiary run by Abvel Ahead.
ChannelNews has been told that management from Shenzhen MTC are looking to recruit Australian retail management including some former Dick Smith management to run the retail operation.