6.9 C
Tuesday, January 31, 2023
Home News 'Stop' on Maersk’s divestment of MCI

‘Stop’ on Maersk’s divestment of MCI

A.P. Moller - Maersk and China International Marine Containers (CIMC) have announced that the previously announced transaction has been terminated, whereby CIMC would acquire Maersk Container Industry (MCI), a manufacturer of refrigerated containers, from the Danish carrier.

The reason the deal has stalled is because of significant regulatory challenges preventing the transaction from closing.

The proposed divestiture was announced on 28 September 2021 and was expected to close in 2022.

“It is unfortunate that the transaction will not happen despite efforts of all parties involved. Throughout the process MCI has performed very well thanks to the dedication of all its employees. Maersk will continue to be a proud owner of MCI for the foreseeable future, and we will now assess the best structural set-up for MCI to ensure the long-term development of the business,” said Patrick Jany, CFO at A.P. Moller – Maersk.

MCI was founded by Maersk in 1991 and today employs 2,300 people in China and Denmark. Over the years, it has evolved into a company that focuses exclusively on manufacturing of refrigerated containers.

Latest Posts

MSC’s updated service to connect West Med, West Africa and Türkiye

MSC announced the enhancement of its West Mediterranean - West Africa service to link directly Türkiye with West Africa region. The service will be renamed...

Prime mover driver dies after vehicle plunges into sea off Singapore port

The driver of a prime mover was killed after his vehicle fell into waters off Singapore’s Keppel Terminal this morning (31 January). The Maritime and...

MPC Container Ships sells one, buys two boxships

The Norwegian vessel owner MPC Container Ships (MPCC) and its joint venture partner have agreed to sell the 2,800 TEU container ship AS Carinthia,...

Maersk partners with German start-up to increase emission visibility for e-commerce

A.P. Moller - Maersk and Berlin-based start-up Cozero have announced the start of their collaboration to create analytics tools to increase Green House Gas...

China ports achieve container growth in 2022; Shanghai, Ningbo and Shenzhed remain on the podium

The overall container volume of major Chinese ports rose 4.7% in 2022, compared with 2021 box volume, reaching 295.9 million TEUs. Additionally, the overall cargo...