Port of StocktonTMS Awards 2020ViganBühler GmbHCleveland Cascades LtdPort of Vancouver USA
  • TMS Awards 2020
  • Telestack
  • TOC Events
  • The Wolfson Centre for Bulk Solids Handling Technology
  • Port of Vancouver USA
  • Bühler GmbH

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

Viking reaps shipowner agreement reward

(Posted on 30/06/20)

VIKING Life-Saving Equipment has reported a surge in demand for its one-stop shop Shipowner Agreement... Read more


MacGregor’s $11m crane order

(Posted on 30/06/20)

MacGregor, part of Cargotec, has secured an order to provide cargo handling cranes for four 62,000 dwt... Read more


Top ranking UWC

(Posted on 25/06/20)

According to the Ranking of Russia’s Top Rolling Stock Manufacturers of 2019 compiled by INFOLine... Read more


Leibherr’s remote service app

(Posted on 25/06/20)

Liebherr expands its digital product portfolio for crawler cranes, deep foundation equipment and maritime... Read more


Thordon defies laws of physics

(Posted on 25/06/20)

Excessive bearing and shaft wear resulting in frequent drydockings has led a Louisiana-based workboat... Read more


Alfa Laval signs three-year BWTS frame agreements

(Posted on 19/06/20)

World leader in heat transfer, centrifugal separation and fluid handling, Alfa Laval – has signed... Read more


Oceaneering launches OceanSMART

(Posted on 18/06/20)

Oceaneering International, Inc. has announced the launch of a new business, OceanSMART Cargo Logistics... Read more


Damen delivers ASD Tug 2312 to Iskes

(Posted on 18/06/20)

Damen Shipyards Group has delivered an ASD Tug 2312 named Jupiter to Iskes in Ijmuiden, Netherlands .... Read more


Wärtsilä comes onboard Mayflower Project

(Posted on 18/06/20)

Retracing the voyage of its famous 17th century namesake vessel, the Mayflower Autonomous ship is set... Read more


Sennebogen integral to Iskenderun

(Posted on 15/06/20)

Since October 2019, a gentle giant from SENNEBOGEN has been moving masses of old scrap every day. The... Read more


TMS Ship Finance & Trade Conference 2020TOC EventsTMS Tanker Conference 2020TMS Webinar Series COVID-19: A Leadership Perspective - ‘Scanning the Financial Horizons’Cimbria Bulk Equipment A/SSailors Society
  • Cleveland Cascades Ltd
  • Sailors Society
  • Port of Stockton
  • TMS Tanker Conference 2020

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping