CMA CGM bids to buy Taiwan's Cheng Lie
CMA CGM Overseas (Taiwan) Investment Co. Ltd (CMA CGM Taiwan) is bidding for all the shares in Cheng Lie Navigation Co. Ltd (CNC), a container shipping company publicly listed on the Gre Tai Securities Market in Taipei.
"This acquisition would enlarge our scope of business into the intra-Asia trading area. CNC is a well-recognised company with a good reputation and position in the intra-Asia shipping container market. Operating a fleet of 16 vessels, CNC is active in a variety of trade routes covering Japan, Korea, Taiwan, mainland China, Hong Kong, Indonesia, Thailand, the Philippines, Malaysia, Singapore, and Vietnam," said Farid Salem, chief executive vice-president of parent company, CMA CGM.
The group, an experienced operator of different shipping companies that specialise in certain world trades, believes the acquisition would add value to the French group's overall operations as was the case with ANL in the Oceania trades and Delmas in the Africa trades.
"We intend to continue this successful model with the CNC acquisition. The company will maintain its brand and will continue to rely on its experienced and dedicated network of agencies, terminals, management and staff. It will remain headquartered in Taipei," said Mr Salem.
A company statement said that after the completion of the deal, CMA CGM Taiwan intends to request CNC's chairman IC Chow to continue in his present capacity.
CMA CGM Taiwan also intends to appoint Igal Dafni as managing director. Mr Dafni is expected to make a valuable contribution to the company owing to his extensive knowledge of the intra-Asia trades as he was managing director of Gold Star Line in his last post.
"This acquisition would enlarge our scope of business into the intra-Asia trading area. CNC is a well-recognised company with a good reputation and position in the intra-Asia shipping container market. Operating a fleet of 16 vessels, CNC is active in a variety of trade routes covering Japan, Korea, Taiwan, mainland China, Hong Kong, Indonesia, Thailand, the Philippines, Malaysia, Singapore, and Vietnam," said Farid Salem, chief executive vice-president of parent company, CMA CGM.
The group, an experienced operator of different shipping companies that specialise in certain world trades, believes the acquisition would add value to the French group's overall operations as was the case with ANL in the Oceania trades and Delmas in the Africa trades.
"We intend to continue this successful model with the CNC acquisition. The company will maintain its brand and will continue to rely on its experienced and dedicated network of agencies, terminals, management and staff. It will remain headquartered in Taipei," said Mr Salem.
A company statement said that after the completion of the deal, CMA CGM Taiwan intends to request CNC's chairman IC Chow to continue in his present capacity.
CMA CGM Taiwan also intends to appoint Igal Dafni as managing director. Mr Dafni is expected to make a valuable contribution to the company owing to his extensive knowledge of the intra-Asia trades as he was managing director of Gold Star Line in his last post.
