Global shipping container supplier majors Maersk Container Industry and China International Marine Containers said that they have decided to abandon a merger plan.
China International Marine Containers around September 2021, decided on buying the Danish shipping major’s Maersk (MAERSKb.CO) refrigerated containers maker for a price of $987.3 million.
The Justice Department mentioned that the merger would’ve combined two of the four refrigerated shipping container suppliers and further concentrated the cold supply chain.
The Justice Department mentioned that it would have consolidated control of over about 90% of the production of insulated container boxes and refrigerated shipping containers all over the world in Chinese state-controlled or state-owned entities.
References: KITCO, The United States Department Of Justice