Evergreen sells Sinopacific Offshore and Engineering

The deal sees CIMC Enric acquire 29.95% of the Sinopacific subsidiary, giving it a majority stake. Evergreen will retain a 36.69% share and said it would continue to lead the company’s current operations.

CIMC Enric has expertise in transportation, storage and processing equipment widely used in the energy, chemical and liquid food industries. Evergreen noted that the advanced design and production capability of Sinopacific Offshore and Engineering in C-tanks, small and medium-sized gas carriers and LNG will enable CIMC Enric to become a comprehensive service provider in the gas purification, liquidation, storage and transportation sectors.

Evergeen added: “As a listed company, CIMC Enric will also offer its new subsidiary access to capital markets, providing increased financial support for the company’s rapid development.”