The stock has lost 23 percent of its value since the start of the year. Little affected by the news, CIMC’s mainland-listed shares were trading down 1.3 percent at CNY8.42 (USD1.20) as of lunch break today. Revenue surged 73.9 percent to CNY163.7 billion (USD23.9 billion).
#Refrigerated container maersk portable
In the long run, it will also help CIMC enter other cold chain logistics areas such as refrigerated trucks and portable cold storage units, it added.ĬIMC posted a 24.6 percent leap in profit last year from the year before to CNY6.7 billion (USD977.4 million), according to its latest annual report. It would also have consolidated control of over 90 of insulated container box and refrigerated shipping container production worldwide in Chinese state-owned or state-controlled entities. The merger was intended to help CIMC boost revenue by achieving one-stop sales and services of marine reefer boxes. The proposed transaction would have combined two of the world’s four suppliers of insulated container boxes and refrigerated shipping containers. All clearances needed from anti-monopoly authorities in order to conclude the transaction were specified at the time.
In September last year, CIMC agreed to pay USD1.1 billion to acquire Maersk Container Industry and Maersk Container Industry Qingdao in order to ramp up its cold storage container output. The second attempt came in 1961 with the new-build specialised reefer DRAGR MRSK and a little later the sister ships THUR MRSK and MAGLEBY MRSK delivered in 1964. Pictured here is PETER MRSK built in 1932. CIMC is in negotiations with Copenhagen-based Maersk on its indemnity obligations for cancelling the contract, it said. Some of the first cargo liners built specifically for the newly established Line in 1928, were fitted with refrigerated cargo holds. We are driven by a desire to constantly improve the performance and efficiency of our product portfolio. 26 - China’s biggest shipping container manufacturer China International Marine Containers has withdrawn its offer to acquire Maersk Container Industry, the cold chain equipment business of Danish shipping giant A.P.Møller–Mærsk, over ‘great’ concerns that the merger would not pass an international anti-monopoly review.Īfter careful and thorough consideration, both parties agreed that the takeover is not likely to pass a merger review by the US Department of Justice’s Antitrust Division, Shenzhen, southern Guangdong province-based CIMC said yesterday. Maersk Container Industry (MCI) manufactures refrigerated containers and refrigeration machines to our customers in the intermodal industry, which covers shipping lines, fruit multinationals and leasing companies.
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