13.05.2020
Artikel Nummer: 31965
Chinese RHI buys Cargotec out of JV
The ownership of the joint venture in China that Cargotec and Jiangsu Rainbow Heavy Industries (RHI) have been running since 2012 has been reshaped. Since then, Rainbow-Cargotec Industries (RCI) has manufactured port and offshore cranes for Kalmar and MacGregor business areas at the factory in Taicang, China.
RHI has now bought Cargotec's 49% stake in the joint venture. It return, Cargotec will simultaneously acquire certain operations and assets from RHI.
According to the preliminary estimate, Cargotec will book a cost affecting comparability totalling EUR 35 million in its second quarter 2020 result as a consequence of the transaction. (mw)