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
Alfa Laval introduces the marine industry’s first biofuel-ready separators
(Posted on 27/01/23)Biofuels are a current and accessible fuel option that can help marine customers decarbonize. Yet while... Read more
BIO-UV reports 31% increase in BIO-SEA sales
(Posted on 27/01/23)BIO-UV Group has reported a 31% increase in revenues from its maritime business segment, contributing... Read more
KVH’s new enterprise-grade cybersecurity and email for mariners
(Posted on 23/01/23)KVH Managed Firewall and Cloud Email value-added services available to commercial fleets to enhance... Read more
NAVTOR commits to collaborative future with SMN
(Posted on 23/01/23)NAVTOR has been announced as the latest industry leader to join the Smart Maritime Network (SMN).The... Read more
Ocra AI joins One Sea as association continues to grow
(Posted on 16/01/23)One Sea has welcomed intelligent navigation solutions provider, Orca AI, as the newest member of the... Read more
Elcome brings Starlink internet services to maritime industries
(Posted on 10/01/23)Elcome International, a leading provider of maritime systems and integration solutions, is providing... Read more
Thordon Bearings appoints CPE as North East USA distributors
(Posted on 10/01/23)Corrosion Products & Equipment (CPE), a specialist engineering firm based in Rochester, New York... Read more
Siwertell ship unloader ordered for US cement imports
(Posted on 04/01/23)Bruks Siwertell has secured a new Siwertell ship unloader contract from cement and ready-mix concrete... Read more
New skirting system controls conveyor dust emissions
(Posted on 23/12/22)Superior Industries, Inc., a US-based manufacturer and global supplier of bulk material processing and... Read more
Siwertell technology ordered for enclosed cement handling in Adelaide
(Posted on 23/12/22)Bruks Siwertell has received an order from Hallet Capital Pty Ltd for a Siwertell ship unloader. It... Read more
