China’s CIMC to acquire Maersk Container Industry at $987.3 mn

29 Sep 2021 CW Team

China International Marine Containers (CIMC) is set to acquire reefer plant Maersk Container Industry, an AP Moller-Maersk subsidiary, at $987.3 million.

CIMC will acquire MCI entirely and assets, which comprise a reefer factory in Qingdao, China, and its R&D and test engineering plants in Tinglev, Denmark.

CEO of fleet and strategic brands at A P Moller – Maersk, Henriette Hallberg Thygesen, told the media that the divestment of MCI is part of A P Moller – Maersk’s business transformation, where the the goal is to be an integrated container transport and logistics firm producing customer value across the entire supply chain.

Chairman and CEO of CIMC, Mai Boliang, told the media that by leveraging technology, and innovation they aim to form a new development platform within the cold chain.

Chinese companies now account for an estimated 100% of the world’s refrigerated containers and over 96% of the world’s dry cargo containers.

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Also read: Allcargo Logistics to foray into container terminal operation business

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