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]

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