

(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.
China’s Chengxi Shipyard has handed over the first of twin self-unloading transshipment newbuilds... Read more
Global Drone Inspection (GDI), the new subsidiary company of robotic inspection specialists RIMS BV,... Read more
Wärtsilä Voyage has introduced Wärtsilä SmartMove Suite to the global shipping market... Read more
Maritec Pte Ltd, the fuel and oil testing services company acquired by leading certification company... Read more
The U.S. Coast Guard (USCG) have issued its type approval for Alfa Laval PureBallast 2. Most owners... Read more
In the midst of digital technology continuously changing the landscape of the international shipping... Read more
Rotterdam-based company DisinfectYour.com has launched a new service to help vessel owners and crew... Read more
Current Direct, a new research and innovation project funded by the European Commission’s Horizon... Read more
Data analytics innovator ioCurrents will offer KVH Watch connectivity as part of their vessel maintenance... Read more
Thordon Bearings has added to the growing concern over proposed changes to Vessel Incidental Discharge... Read more