Promising hopes
By Fu Chenghao |
June 19, 2012, Tuesday
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Print Edition
Print Edition
CARGOTEC, a leading cargo-handling equipment maker, expects a new China joint venture to post annual sales of 5.8 billion yuan (US$913 million) in five years on growing demand.
The venture, which is between the Finnish firm and Shenzhen-listed Jiangsu Rainbow Heavy Industries, started building a facility in Taicang, Jiangsu Province yesterday to make heavy crane products. Construction will take two years.
Cargotec owns 49 percent of the venture by investing 30 million euros (US$38 million) of equity.
The venture, which is between the Finnish firm and Shenzhen-listed Jiangsu Rainbow Heavy Industries, started building a facility in Taicang, Jiangsu Province yesterday to make heavy crane products. Construction will take two years.
Cargotec owns 49 percent of the venture by investing 30 million euros (US$38 million) of equity.
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