Cargotec's Chinese JV gets building
18 June 2012A joint venture of Finnish port lifting solutions manufacturer Cargotec, and Chinese Jiangsu Rainbow Heavy Industries (RHI), called Rainbow-Cargotec Industries (RCI), recently held a ground-breaking ceremony for its new facility.
RCI's business segments include ship-to-shore cranes, rubber-tyred gantry cranes, rail mounted gantry cranes and other heavy crane products. It will provide leading heavy crane solutions internationally.
The facility currently under construction is located in the Taicang, Jiangsu province in China, and will allow Cargotec to increase delivery capacity.
Cargotec said the facility was conveniently situated near waterway connections to its markets by the Yangtze River.
Cargotec's president and CEO Mikael Mäkinen and president of RHI, general manager of RCI Wu Jian participated in the ceremony.
Mäkinen commented on the prospects for new product development: "This ground breaking in Taicang demonstrates RHI's and Cargotec's commitment in combining our forces for future success. We will create new, globally competitive solutions that will certainly benefit our customers."
Guests of honor attending the ceremony included Huang Xing, ambassador of China to Finland and Lars Backström, Ambassador of Finland to China.
