CIMC buys Enric to Boost Gas Container Output

Shipping container maker China International Marine Containers (CIMC) confirmed today that it had agreed to buy a stake worth US$145 million in Enric Energy Equipment Holdings.

CIMC (Group) – through its unit Charm Wise – reached an agreement on July 30 to buy a 42.18 percent stake, or 190.703 million shares, in Enric from Xinao Group International Investment for $0.76 per share, the company said in a statement.

It is understood that the deal will help CIMC up its production capacity and technical expertise in making containers to transport and store natural gas, Enric Energy's specialty.