The biggest news to hit the tank container manufacturing industry in many a year came last month with the announcement that China International Marine Containers Group Ltd (CIMC) is to acquire Burg Industries BV. CIMC is the world’s largest manufacturer of tanks and amongst the Burg portfolio of companies is Welfit Oddy, the world’s second largest builder,WEW, a builder of special tank containers, and LAG, the silo tank manufacturer. These three enterprises comprise Burg’s Intermodal Tank Division.
The acquisition is to be realised through the establishment of a new joint venture company in which CIMC will hold 75% of the shares and Burg 25%. The new company will hold 100% of Burg Industries and Burg will net €100M from the transaction....
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This complete item is approximately 1650 words in length, and appeared in the March 2006 issue of WorldCargo News, on page 34.
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