Greater China

CIMC sells equity in firefighting asset

Shanghai: Hong Kong-listed China International Marine Containers (CIMC) has announced that it has entered into a memorandum of understanding with China Fire Safety Enterprises (CFSE) and Jiang Xiong, an executive director of CFSE, for the sale of its 40% equity interest in Albert Ziegler, a wholly owned subsidiary of the company.

Albert Ziegler is a German company and is primarily engaged in the development, production and distribution of firefighting and special purpose vehicles pumps and other components.

CIMC believes the potential transaction will enable it to expand its market coverage in the fire prevention and firefighting market. [19/11/14]

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