Maersk have planned to divest its container manufacturing business to China International Marine Containers Ltd. (CIMC). Maersk Container Industry (MCI) is expert when it comes to making reefer containers and was making the same for so many for Maersk and other business. Since Denmark based is now shifting its goal to fully focus on only being integrated container transport and Logistics Company, this divest is part of it. Deal was signed between the two on 27th September, and now just needs regulatory approval.
CIMC which is market leader will acquire all assets of the company including R&D office in Denmark. This will give CIMC an unprecedented edge in reefer container making business. The value of the transaction is USD 987.3 million on a cash and debt free basis.
IMAGE CREDITS: MAERSK DENMARK