CIMC plans container production base in Guangdong
March 27, 2014 Category Logistics, Logistics industry
China International Marine Containers (Group) Co (CIMC) will build a new container production base in Guangdong costing CNY7 billion. CIMC, the world’s largest container manufacturer by market share, is betting that a recovery in the global shipping market will boost demand for containers. Wholly-owned subsidiary CIMC Container Holdings has reached an agreement with the Fenggang county government of Dongguan city, Guangdong province, for the CIMC Fenggang logistics equipment manufacturing project. CIMC Container will initially invest CNY2.5 billion to acquire land and build infrastructure facilities, which are due to be completed by the end of next year. The remaining funds will mainly be spent on the construction of plants, the purchase of fixed assets, market promotion, and product research and development (R&D). Annual production capacity will reach 750,000 standard containers. CIMC’s revenue rose 1.2% to CNY41.19 billion between January and September last year. But its container business was affected by a declining global shipping market, with revenue falling 22% to CNY16.71 billion. More than 40 companies and 18 manufacturing bases carry out container production, sales and design work for CIMC throughout the world. The Chinese company produces a wide variety of containers, ranging from dry freight containers to refrigerated and special boxes, for domestic and global clients. It also offers logistics vehicles, tanker trailers and construction vehicles, and it designs and produces passenger boarding bridges and cargo-handling systems for airports, the China Daily reports.
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