ContainersEuropeGreater China

Maersk exits box manufacturing with $1bn sale of MCI to CIMC

China has strengthened its near monopoly in the container manufacturing sector.

China International Marine Containers (CIMC), the world’s largest container manufacturer, will acquire reefer factory Maersk Container Industry, an AP Moller-Maersk subsidiary that has been the subject of a sell-off for many months.

The value of the transaction is $987.3m, further bolstering what will be Maersk’s greatest ever annual financial results.

CIMC will take over MCI’s entire organisation and assets which include a reefer factory in Qingdao, China, as well as its R&D and test engineering facilities in Tinglev, Denmark.

“The divestment of MCI is part of A.P. Moller – Maersk’s business transformation, where focus is on being an integrated container transport and logistics company creating customer value across the entire supply chain,” said Henriette Hallberg Thygesen, CEO of fleet and strategic brands at A.P. Moller – Maersk.

Mai Boliang, chairman and CEO of CIMC, said: “By leveraging technology and innovation we want to create a new growth platform within cold chain.”

Chinese factories now account for more than 96% of the world’s dry cargo containers and 100% of the world’s refrigerated containers.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.


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