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