The two companies have established joint venture firm Rainbow-Cargotec Industries Co Ltd (RCI) where Cargotec will hold 49% stake with a €30m ($37.6m) investment.
The joint venture will focus on ship-to-shore cranes, rubber-tyred gantry cranes, rail mounted gantry cranes and marine specialty cranes.
“The foundation stone of the facility will be laid in June. RCI will provide leading heavy crane solutions globally and grasp growth opportunities in the Chinese and global markets,” Cargotec said in a statement.
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