Maersk distances itself from reefer manufacturing unit sell-off speculation

A.P. Moller-Maersk is being tipped by Bloomberg as readying its reefer manufacturing unit for sale with a $1bn price tag being attached to the deal. However, the Danish conglomerate has sought to dampen the speculation.

Maersk Container Industry (MCI) was founded in 1991. It reported earnings before interest, taxes, depreciation and amortisation of $77m in 2020, significantly up from the $29m recorded in 2019. The Maersk unit employs 2,200 people, predominantly at its production facilities in China. Two years ago, MCI ditched manufacturing dry containers to focus on reefer boxes.

A.P. Moller-Maersk has been selling off many assets under the leadership of Soren Skou, who was appointed CEO five years ago. Under Skou’s watch, the Danish company has set about transforming into what the CEO has described as a global integrator of container logistics.

A spokesperson for A.P. Moller-Maersk suggested MCI would remain within the group.

“As a company policy we do not comment on rumours and speculations,” the spokesperson told Splash today, adding: “MCI is delivering strong results, contributing to the growth of A.P. Moller – Maersk. Furthermore, with our shared heritage and connection to shipping and global trade, A.P. Moller – Maersk continues to add value as a good owner of MCI.”

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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