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25 September 2022 The on-line newspaper devoted to the world of transports 13:18 GMT+2

August 26, 2022

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Original news
Maersk Container Industry will not become owned of the Chinese CIMC

The US Department of Justice rejects the transaction

The Danish shipowning group A.P. Møller-Mærsk does not will sell Maersk Container Industry (MCI), a company that produces containers for the transport of refrigerated loads, at Chinese China International Marine Containers (Group) Co. (CIMC), sale that would have included the subsidiaries Maersk Denmark Industry and Maersk Qingdao Container Industry Co. and that had been agreed eleven months ago ( of 28 September 2021).

The proposed acquisition was abandoned after yesterday the US Department of Justice announced the outcome of its own investigation on this sale that - explained the American ministry - would represent the merger of two gods four global suppliers of reefer containers and containers insulated and would further concentrate the supply chain global cold. In addition, the DOJ highlighted that the transaction would have transferred to Chinese state-owned companies or companies controlled by Beijing over 90% of container production refrigerated and isothermal.

"American consumers," said Jonathan Kanter, Deputy Attorney General of the Department's Antitrust Division of Justice - depend on the supply chain of the world cold for many of the daily necessities. The acquisition of MCI by CIMC threatened to damage this essential aspect of our economy resulting in higher prices, lower quality and less resilience in global supply chains. It would consolidate cimc's dominant position in a sector that is already consolidated and would have eliminated MCI as an innovative competitor and independent. Moreover - Kanter specified - the agreement would have significantly increased the risk of coordination between the remaining suppliers on the market, most of whom would have been controlled through common property or alliances."

"It's a shame - complained the director financial group A.P. Møller-Mærsk, Patrick Jany - that the transaction cannot be completed despite the efforts made by all parties involved. Throughout the MCI procedure has performed very well thanks to the dedication of all its employees. In the near future Maersk will continue to be proud owner of MCI and now - has added Jany - we will evaluate the best structural set-up for MCI at in order to ensure the long-term development of the business'.

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