The Hindu Business Line : ... French box giant too

CMA CGM Overseas (Taiwan) Investment Co Ltd (CMA CGM Taiwan), a hundred per cent subsidiary of the French CMA CGM Group, recently announced a tender offer for acquisition of 100 per cent equity stake in Cheng Lie Navigation Co. Ltd (CNC Lines), a container shipping line listed on Gre Tai Securities Market in Taipei.

The proposed acquisition is aimed at enlarging the French container giant's business in intra-Asia trading region, according to company sources. CNC is a well-recognised company with a good reputation and position in the intra-Asia container market.

With a fleet of 16 vessels (of which eight are owned), the line is active in a variety of trading routes covering Japan, Korea, Taiwan, China, Hong Kong, Indonesia, Thailand, the Philippines, Malaysia, Singapore and Vietnam. The combination of CNC's regional strength and CMA CGM's strong global position therefore is expected to help the French shipping group develop new routes, making use of attractive fleet, achieve market synergies, and capping it all, to offer a complete a range services to the customers, add the sources.

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