China's CIMC set to expand global reach

State-owned firm buys ailing Canadian craft brewing equipment maker DME

State-owned transportation equipment maker China International Marine Containers has taken control of ailing Canadian brewing machine maker Diversified Metal Engineering to further expand its presence in the North American market.

DME, which designs and makes craft brewing equipment and steel tanks for the beverage industry, was acquired by Netherlands-based CIMC Enric Tank & Process for an undisclosed price. CETP is a subsidiary of CIMC Enric Holdings, a Hong Kong stock exchange-listed company, which in turn is a subsidiary of CIMC.