Dive summary:
- Manitowoc Cranes wants a bigger piece of the market for cranes in China, and it is forming a joint venture with Shantui Investment Co. Ltd. to do it once all government approvals are in hand.
- Manitowoc makes and distributes truck cranes in China already, but it will get a wider distribution system through Shintui's network for its earth-moving equipment and be able to add all-terrain and rough-terrain cranes sold under its Grove brand.
- The truck cranes will be made at Manitowoc's existing Chinese plant and will be sold as Shantui Grove inside China and under that name or as Grove-Shantui for export depending on which companies distributors are involved.
From the article:
"Manitowoc has been developing its own presence in the Chinese truck crane market and we are now ready to move to the next stage of development with a stronger and larger partner."
