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
Rock Machinery becomes full-line Superior dealer with addition of conveying equipment
(Posted on 02/11/25)Superior Industries, Inc., a US-based manufacturer and global supplier of bulk material processing and... Read more
Idwal announces regional leadership in Asia with commitment to growth
(Posted on 27/10/25)Idwal, the leading provider of independent vessel inspection and condition assessment services, has... Read more
Cavotec signs motorised reel order for Port Hedland in Australia
(Posted on 20/10/25)Cavotec has signed a contract with Australian construction and engineering company Civmec for the supply... Read more
ClassNK endorsement for OMC International’s Dynamic UKC System (DUKC)
(Posted on 17/10/25)ClassNK has granted its Innovation Endorsement for Products & Solutions to a Keel Clearance (UKC... Read more
Cavotec MoorMaster systems operational at Iroquois Lock in Canada
(Posted on 14/10/25)Cavotec has successfully delivered and commissioned three MoorMaster automated mooring systems at the... Read more
Cavotec MoorMaster Systems Operational at Iroquois Lock in Canada
(Posted on 14/10/25)Cavotec has successfully delivered and commissioned three MoorMaster automated mooring systems at the... Read more
Dualog launches app for fair and secure internet access for seafarers
(Posted on 14/10/25)Dualog has launched Quota, a next-generation app designed to give crew a fairer, more transparent and... Read more
Telestack launch largest capacity track mounted conveyor on the market
(Posted on 08/10/25)Northern Ireland based Telestack have launched launch the TCL 2031 tracked mounted conveyor, a powerful... Read more
Impressive 30 second loading cycle continues Muuga’s steady growth
(Posted on 07/10/25)The PK Terminal in the Estonian port of Muuga is continuing its steady growth trajectory by adding a... Read more
New SIP+ valve from HJ Lubricators dramatically cuts retrofit time
(Posted on 07/10/25)Hadsund, Denmark: Cylinder lubrication systems specialist HJ Lubricators has launched SIP+, a next-generation... Read more
