Greater China
New Cargotec venture in China sets strong revenue goals
Shanghai: Cargotec, the world’s biggest maker of container-lifting gear, said a new China venture may post annual sales of as much as RMB5.8bn ($912m) by 2018.
President and ceo Mikael Makinen was in Shanghai yesterday as work started on a jv facility in Taicang with Jiangsu Rainbow Heavy Industries.
Cargotec is investing $38m of equity into the new business, which will make port-handling systems, cranes and other heavy equipment. [19/06/12]