A.P. Moller - Maersk to divest its container manufacturer to CIMC

Recent reports indicate that A.P. Moller – Maersk is set to divest Maersk Container Industry, its container manufacturing segment, as the company strategically shifts to focus more closely on integrated logistics. According to industry experts, this move is expected to enhance operational efficiency and sharpen competitive advantages for both Maersk and the acquiring firm, China International Marine Containers Ltd. (CIMC).

China International Marine Containers Ltd., a prominent player in logistics and energy equipment, is poised to acquire the Maersk Container Industry (MCI), a reputed manufacturer of refrigerated containers. This agreement comes as part of a broader strategic review of MCI that was originally disclosed during Maersk's Capital Markets Day in May.

Copenhagen, Denmark - On September 27, A.P. Moller - Maersk finalized an agreement to sell its reefer manufacturer, Maersk Container Industry (MCI), to China International Marine Containers Ltd. (CIMC), based in Shenzhen, China, and listed on both the Shenzhen and Hong Kong Stock Exchanges. MCI will integrate into CIMC’s existing operations as a significant player in the container equipment landscape.

The deal encompasses MCI’s entire organizational structure, assets, and facilities, including the reefer manufacturing plant located in Qingdao, China, alongside its R&D and testing facilities in Tinglev, Denmark.

Henriette Hallberg Thygesen, CEO of Fleet & Strategic Brands at A.P. Moller - Maersk, emphasized: "We believe that CIMC is the right long-term owner for MCI. Selling MCI aligns with our business transformation strategy, which prioritizes being an integrated container transport and logistics entity that creates exceptional value for customers throughout the supply chain."

We believe that we in CIMC have found a good long-term owner of MCI. 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.

Henriette Hallberg Thygesen

CEO of Fleet & Strategic Brands in A.P. Moller - Maersk

Established by Maersk over three decades ago, MCI has undergone significant changes to specialize entirely in refrigerated container manufacturing. Notably, the firm achieved its highest profitability in recent years, a trend CIMC aims to continue.

CIMC is determined to foster MCI’s ongoing growth in sales while investing in innovative product development. The firm sees the acquisition of MCI as a strategic opportunity to enhance its cold chain offerings.

By leveraging technology and innovation, we aim to create a new growth platform within cold chain logistics. I am eager to welcome MCI and am impressed by its past achievements and innovative processes. By uniting MCI's talented workforce with our global refrigeration capabilities, we anticipate a prosperous future ahead for both companies and their customers.

Mr. Mai Boliang

Chairman and CEO of CIMC

Maersk will maintain a close partnership with MCI for future collaborations, ensuring that the Star Cool brand continues to address customer cold chain requirements.

Transaction Details

The acquisition transaction is valued at USD 987.3 million, on a cash and debt-free basis, following the signing of the acquisition agreement, which is pending regulatory approval. The deal is projected to close in early 2023.

About MCI

MCI operates from Denmark, where it has R&D facilities and manufactures reefer containers and Star Cool refrigeration units in Qingdao, China. The company is supported by a global network of more than 400 service providers, and the 2,300 individuals working for MCI will transition to CIMC upon the agreement’s closure.

About CIMC

CIMC is a leading supplier of high-quality equipment and services for the logistics and energy sectors. Its largest business segment, CIMC Containers, specializes in producing dry and refrigerated containers, alongside special container solutions. CIMC is committed to expanding its operational capabilities, particularly in cold chain logistics, incorporating MCI into its product offerings.

Founded in 1980 as a joint venture in Shenzhen, China, CIMC is publicly listed and operates globally with more than 64,000 employees and numerous R&D, manufacturing, and business entities across 20 countries and regions.

About A.P. Moller - Maersk

A.P. Moller - Maersk is an extensive container logistics provider striving to enhance supply chain connectivity and simplicity for its customers. With operations in 130 countries, the company employs around 80,000 individuals globally.

Contact Information

If you would like more details, please reach out to:

Signe Wagner

Head of Media Relations

+45

Summer Shi

Senior Press Officer, Asia Pacific, Maersk

+86