(Yicai Global) Sept. 28 -- China International Marine Containers has agreed to pay USD1.08 billion to acquire Maersk Container Industry in order to ramp up its cold storage container output, the world’s largest shipping container manufacturer said today.

The takeover agreement was signed with A.P. Moller-Maersk on Sept. 27, Shenzhen-based CIMC said. The deal will help boost revenue by achieving one-stop sales and services of marine reefer boxes. In the long run, it will also help CMIC enter other cold chain logistics areas such as refrigerated trucks and portable cold storage units, it added.

MCI’s production facilities are in northeastern Qingdao province while its research and development hub and sales centers are in Denmark. The Copenhagen-based firm employs around 2,200 staff and has a global network of over 400 service providers, according to its website.

CIMC’s Shenzhen shares [SHE:000039] were trading down 2.09 percent at CNY18.31 (USD2.80) at 2 p.m China time today and in Hong Kong [HKG:2039] they had gained 0.82 percent to HKD17.22 (USD2.21).

Editor: Kim Taylor