CHINA International Marine Containers (CIMC), the world's largest container maker, forecasts that the global demand will remain flat or decline in 2008.
The overproduction of containers in 2007 is another reason for the company to make provisions for 2008, in light of fewer purchases and more competition, a company statement said.
But company says trade in standard dry cargo containers and reefer boxes trade will not suffer much because it expects improvement in the domestic market for road operations, energy and chemicals equipment sales as well as airport facility activity to buoy business during global slowdown.
CIMC will spend CNY5.7 billion (US$814 million) this year, CNY1.33 billion of which for vehicle manufacturing, CNY650 million for energy and chemicals equipment manufacturing.
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