18.05.2012
Cargotec completes Chinese JV
Cargotec and Jiangsu Rainbow Heavy Industries have now obtained all the necessary approvals and formally established the Joint Venture company Rainbow-Cargotec Industries.
Cargotec has a 49 percent holding in the new venture, for which it paid €30 million.
As announced last July, the joint venture will build a new facility in Taicang, China - the foundation stone of which was laid in June - to build ship-to-shore cranes, rubber-tyred gantry cranes, rail mounted gantry cranes and marine specialty cranes.
Click here to see Cargotec to form Joint Venture in China
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