Transport equipment makers to merge
Burg Industries BV in the Netherlands and China International Marine Containers Group Ltd. (CIMC) have agreed to merge their operations.
The arrangement, which is still subject to approval by European and Chinese regulators, will involve the setup of a new joint venture company NEWCO. Burg Industries will hold a 25 percent interest in the new company with the remaining 75 percent of the shares to be owned by CIMC. NEWCO will hold 100 percent of Burg Industries and the transaction involves the sum of 110 million euros.
Burg Industries comprises three manufacturing divisions: road transport equipment; tanks and apparatus; and intermodal tank containers. Well-known brand names are Burg, Hobur, Burgers, Eurotank and LAG. Burg Industries’ customers include beer brewers, food and beverage companies, chemicals and pharmaceutical manufacturers, transport companies, tank container operators, leasing companies and governments.
CIMC, based in Shenzhen, China, builds marine box, tank and refrigerated containers, trailers, storage tanks, and airport support equipment. CIMC is also involved in property development and timber logging.