The deal is undone
On 27 September 2021, Maersk said goodbye to its subsidiary Maersk Container Industry (MCI), which had been in business since 1991, and to the latter’s Qingdao facilities. Maersk signed and sealed the takeover agreements the China International Marine Containers Group (CIMC), the world’s largest manufacturer steel containers for maritime shipping (see also page 11 of ITJ 41-42 / 2021).
The US competition authorities have now put an end to the planned purchase. Adding this entity to its portfolio would have been worth USD 987 million to the Chinese corporation, which is also linked to Cosco and the logistics company CMHI.
Operationally, MCI would have been integrated into the CIMC subsidiary Taicang CIMC Reefer Logistics Equipment (TCRC), which was founded in 1995. The deal would have made TCRC the world’s largest container manufacturer in the reefer segment as well. The US anti-trust authority took exception to this and ended the effort at the end of August this year. (sh)