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SINOPACIFIC Moves Forward through Strong Alliance and Innovation

  Time:2015/8/31

On 27th August 2015, Evergreen Holding Group (Evergreen) and CIMC Enric Holding LTD., (Shenzhen) (CIMC Enric) have signed an agreement for the sale of Evergreen’s shares in Sinopacific Offshore and Engineering Co. Ltd (SOE). As per the terms of this agreement, Sinopacific Shipbuilding Group (SINOPACIFIC), a subsidiary company of Evergreen, will transfer its shareholding of 29.95% in SOE to CIMC Enric. After the completion of this transaction, CIMC Enric will become the controlling shareholder of SOE, while Evergreen will maintain its 36.69% in SOE and lead the company’s current operations.

Evergreen has been in discussions recently with several listed companies which present strategic and complementary strengths for a solid cooperation in order to drive the company further forwards both in terms of industrial and capital operations. The successful cooperation with CIMC Enric has become another major milestone for Evergreen, after its alliance with Qinghai Salt Lake Industrial Group to develop the potash project in Congo Republic.

 With its expertise in transportation, storage and processing equipment that is widely used in the energy, chemical and liquid food industries, CIMC Enric has become a leader in selected industries with a clear strategy, strong R&D input and global marketing network. Such characteristics find an echo in Evergreen’s technology driven strategy as a niche market leader with an international vision. In addition, the advanced design and production capability of SOE in C-tanks, small and medium size gas carriers and LNG will enlarge the industrial chain for CIMC Enric and enable it to become a comprehensive service provider in the gas purification, liquidation, storage and transportation sectors. With the additional resources provided by CIMC Enric, SOE will be in a strong position to enhance its overall competitiveness and its transformation into an EPC solution provider whilst maintaining the advantage of engineering and construction.

 Moreover, the platform provided by CIMC Enric as a listed company will connect SOE and the capital markets, which will provide increased financial support for SOE’s rapid development. The successful cooperation with CIMC Enric reinforces Evergreen Holding Group’s strategy to continue exploring multiple cooperation modules with partners from different backgrounds to ensure the sustainable development of its interests.