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
MacGregor strengthens leadership under Triton’s ownership
(Posted on 04/08/25)MacGregor continues to serve its maritime and offshore customers with its wide portfolio of cargo and... Read more
Jonas Gustavsson appointed CEO of MacGregor
(Posted on 04/08/25)The board of directors of MacGregor Group AB has appointed Jonas Gustavsson Chief Executive Officer... Read more
Liebherr collaborates with Indian terminal to streamline bulk operations
(Posted on 30/07/25)Strategic lifting capacity meets India’s east coast logistics growth. The LHM 550s selected for... Read more
Inauguration of Wärtsilä’s advanced simulators in Malaysia
(Posted on 30/07/25)A new advanced simulation suite supplied by technology group Wärtsilä for the Akademi Laut... Read more
New nuclear for maritime is a “geopolitical imperative”
(Posted on 30/07/25)The New Nuclear for Maritime European Summit, the world’s largest international summit on maritime... Read more
Steelpaint contract with Winning International to protect capsize bulker
(Posted on 21/07/25)Steelpaint GmbH has received its first order from Singapore-based Winning International Group to supply... Read more
Anemoi and Lloyd’s Register publish landmark wind propulsion paper
(Posted on 21/07/25)Anemoi Marine Technologies, a leader in wind-assisted propulsion technology, has developed an in-service... Read more
New platform cracks down on rogue crewing agents exploiting seafarers
(Posted on 15/07/25)A new recruitment feature has launched to help dismantle the shadow network of rogue crewing agents... Read more
AUMUND Group expands portfolio with integration of ESI Eurosilo
(Posted on 08/07/25)AUMUND has announced that, as of 25 June, 2025, ESI Eurosilo B.V., headquartered in Purmerend, the Netherlands... Read more
Anemoi China facility marks major leap in wind propulsion technology
(Posted on 08/07/25)Anemoi Marine Technologies, a global leader in wind propulsion solutions, has announced the official... Read more
