China International Marine Container launches a full takeover bid for CIMC Raffles
On 8 Feb. 2013, the CIMC Offshore Holdings Co., Ltd. (hereinafter referred to as CIMC Offshore), whose 100% stock owned by China International Marine Containers (Group) Co., Ltd. (hereinafter referred to as CIMC) launches the acquisition for all stock of CIMC Raffles (Singapore) Co., Ltd., (hereinafter referred to as CIMC Raffles), the CIMC Raffles becomes a 100% wholly-owned subsidiary of CIMC Offshore since then, the company reports.
Acquisition this time will be in favor of the offshore business of CIMC. Since the year of 2008 when it took over Raffles, CIMC has finished the integration in operation and management areas. In October of 2010, CIMC Raffles delivered the first deep-water semi-submersible drilling rig to CDE, and followed by five more rigs of same kind by the time of April in 2011, which adapt to different water depth for operation, such as that of 750-1000 meters, 2000-3000meters, and over 3000meters. The mentioned rigs are present performing drilling operation in North Sea of Norway, and in waters of Brazil, and Cuba. CIMC Raffles has shown capability in constructing deep-water semi-submersible drilling rigs in batches, and in competing in global market.
