Cargotec completes China JV change
(Posted on 08/06/20)
Cargotec has completed the sale of its share of the joint venture Rainbow-Cargotec Industries Co., Ltd (RCI) in China. As part of the agreement, Cargotec acquired certain operations and assets of the joint venture from Jiangsu Rainbow Heavy Industries Co., Ltd. (RHI), and approximately 160 employees have moved over from RCI to Kalmar.
On 11 May 2020, Cargotec announced plans to sell its 49% share of the joint venture to the other owner RHI. RHI now owns 100% of the former joint venture, and the new name of the company is Rainbow Industries Co. Ltd. (RIC). RIC will continue as Cargotec’s subcontractor and provide assembly services for Cargotec’s business areas Kalmar and MacGregor at the factory in Taicang, China.
The change aims to simplify Cargotec’s global supply chain operations. Simplification is needed mainly because the number of complex automation projects has been growing in the past couple of years. The arrangement also supports the asset light balance sheet structure.
Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec's sales in 2019 totalled approximately EUR 3.7 billion and it employs around 12,500 people.
Latest News
Telestack secures prestigious Mibau Stema aggregates handling contract
(Posted on 11/12/24)Telestack has announced a significant new contract with Mibau Stema, secured in collaboration with long... Read more
Deployment of Starlink/VSAT Hybrid connectivity on 58 Vroon vessels completed
(Posted on 11/12/24)KVH Industries, Inc. has announced that, together with international shipping leader Vroon, they have... Read more
Damen advances sustainable dockings with shore power from Elma Systems
(Posted on 04/12/24)Damen Shiprepair Oranjewerf is giving a green boost to ship repair, maintenance, conversion and refit... Read more
Superior’s TeleStacker Conveyor automation gets major upgrade
(Posted on 29/11/24)Superior Industries, Inc., a US-based manufacturer and global supplier of bulk material processing and... Read more
Superior opens new manufacturing facility in Minnesota
(Posted on 20/11/24)Superior Industries, Inc., a US-based manufacturer and global supplier of bulk material processing and... Read more
Low-friction coatings set to improve RightShip GHG rating
(Posted on 20/11/24)RightShips’ EVDI methodology is familiar to most drybulk ship owners, with chartering customers... Read more
Great Lakes bulk carriers continue to “Thordonize”
(Posted on 12/11/24)Thordon Bearings has delivered its COMPAC water-lubricated propeller shaft bearing solution to the final... Read more
ShipMoney appoints Karen Martin as Global Brand Ambassador
(Posted on 12/11/24)ShipMoney, the innovative digital payments platform for the maritime industry, has announced the appointment... Read more
50 years of the Liebherr mobile harbour crane
(Posted on 04/11/24)The global market for mobile harbour cranes has seen Liebherr rise to prominence, thanks to the consistent... Read more
Breakthrough makes possible wireless monitoring of seawater-lubricated bearing wear
(Posted on 31/10/24)Thordon Bearings has unveiled a new wireless propeller shaft bearing wear measurement system, marking... Read more
