Zhenhua wins French contract

By Fu Chenghao | March 30, 2009, Monday |

Print Edition

SHANGHAI Zhenhua Port Machinery Co has won a US$70 million order from French port handling company Generale de Manutention Portuaire to supply eight quayside container cranes.

The cranes, which will be used at Le Havre and Marseille-Fos ports in France, are scheduled to be delivered in June next year, Shanghai Zhenhua said in a statement.

"The deal, coming in the context of the global financial crisis and Sino-French relations, reflects that business and trade between the two nations remain normal and the ties are still developing," Zhenhua said.

GMP is a venture between French container shipping line CMA CGM SA and Dubai-owned port operator DP World Ltd.

This is not the first time that Zhenhua has won an order from GMP. The French company previously purchased six container cranes from Zhenhua in 2006.

Shanghai-based Zhenhua is the world's largest maker of quayside container cranes, with a market share of 78 percent. The company exports cranes and port equipment to more than 70 nations.

Shares in Zhenhua have risen 41 percent this year, outperforming the 30-percent gain in the Shanghai Composite Index.

The firm will gain from the central government's plans for Shanghai to become a global shipping center.

Manufacturing

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Zhenhua wins French contract

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