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CIMC secures RMB 24.8-bln credit line from BOC

May. 10, 2012 (China Knowledge) - China International Marine Containers (Group) Co Ltd <000039> <200039>, the world's largest shipping container maker, announced yesterday that it has signed a strategic cooperation framework agreement with Bank of China Ltd<601988><3988>.

Pursuant to the agreement, BOC, the country's largest foreign exchange lender, will provide up to RMB 24.8 billion of credit line to the container maker, and offering all-around and customized financial services and support to help the latter with international business development.

CIMC said earlier that its net profit fell 72.37% year on year to RMB 375 million in the first quarter of this year, due to a weak container business.

The company's operating revenue fell 27.58% year on year to RMB 12.35 billion in the first three months, China Knowledge reported earlier.

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