China International Marine Containers (CIMC) will acquire the AP Moller – Maersk owned Maersk Container Industry (MCI), a leading manufacturer of refrigerated containers.
The container logistics company A.P. Moller - Maersk (Maersk) signed an agreement this week to sell its reefer manufacturer, Maersk Container Industry (MCI.
CIMC will take over MCI’s entire organisation and assets which include the reefer factory in Qingdao, China, as well as its R&D and test engineering facilities in Tinglev, Denmark.
CEO of fleet & strategic brands at AP Moller, Henriette Hallberg Thygesen, said the company has found a good long-term owner for the business.
“The divestment of MCI is part of Maersk’s business transformation, where focus is on being an integrated container transport and logistics company creating customer value across the entire supply chain,” she said.
“While strengthening the synergies between the core businesses of our global integrator offering, we have reviewed the strategic fit of MCI and decided to find a new home for MCI that can ensure that the company continues to grow its reefer business through continued development and committed investments from a new owner.
“We have had a close relationship with CIMC for more than 30 years and we look forward to continue that partnership.”
The value of the transaction is $US 987.3 million on a cash and debt free basis. The transaction is expected to close in or before 2022.