CIMC Enric in MOU to buy Sinopac Offshore & Engineering

Sinopacific Offshore & Engineering's Qidong facility recently held the naming ceremony for the first two of six Dragon 27,500 cu.m. LNG/Multi Gas Carriers

AUGUST 17, 2015 — Hong Kong listed CIMC Enric Holdings Limited,  an affiliate of China International Marine Containers (Group) Co (CIMC), reports that it has entered into a memorandum of understanding (MOU) with Jiangsu Pacific Shipbuilding Group Co., Ltd. and SOEG Pte. Ltd. to acquire their approximately 63.31% equity interests in Sinopacific Offshore & Engineering Co., Ltd. and a separate MOU with Evergreen Group Co., Ltd. to aquire its 36.69% equity interest in the company.

Sinopacific Offshore & Engineering’s main areas of expertise is gas transportation. It is one of the only Chinese companies providing complete design and construction services for both gas tanks, systems and vessels.

CIMC Enric says its Board believes that the acquisition will be complementary and synergistic to the company’s existing businesses and will facilitate the company in building its integrated capabilities for purification, liquefaction, storage and transportation of natural gas both onshore and offshore.

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