CIMC Sells 40% Shares of German Ziegler to China Fire Fighting Company

Date:2015-03-09 Source:www.chinaspv.com

www.chinaspv.com: As the announcement of CIMC, the group will sell out the shares of German Ziegler and the relevant sales loans, the wholly subsidiary of China International Marine Containers (Group) Co.,Ltd, with 489 million HK dollars and China Fire Fighting Company will pay for it with the allocation of 0.4 HK dollar each or the issuing of 1.224 billion alternative stocks. After the acquisition, CIMC will gain the holding shares of China Fire Fighting Company.

CIMC claims that China Fire Fighting Company owns good reputation and rich customer resources in manufacturing and sales of fire trucks in the industry as one listed company. This acquisition will increase the market shares of the company in the global fire fighting market, setting the stage for its related business integration as well as benefiting from the cooperation between Ziegler and China Fire Fighting Corporation Group, leading to the gradual reducing of costs and the improvements of the product matching group due to the business combination.