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Cargotec Oyj establishes joint venture with China National Heavy Duty Truck Group Co., Ltd


Monday, 2 Dec 2013 03:00am EST 

Cargotec Oyj:Says it has established Sinotruk (Shandong) Hiab Equipment Company Ltd in China.Says Sinotruk (Shandong) Hiab Equipment Company Ltd is a joint venture with China National Heavy Duty Truck Group Co., Ltd. (CNHTC).Says Cargotec's ownership in the joint venture is 50 percent.Says Cargotec's estimated equity investment in the joint venture during the first operational year is, as earlier announced, approximately 10 million euros.Says the joint venture will also further develop CNHTC's existing truck crane offering and production base for the Chinese market.Says by combining both companies' technical know-how, the joint venture is expected to become a player in the truck crane business in the near future, particularly in China. 

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