KCI Konecranes enters into a joint venture with Shanghai Qingjie Colour-Coated Steel Sheet Co., Ltd. and Euro Mechanical & Electronic Co., Ltd. The joint venture’s name will be Shanghai High Tech Industrial Crane Co. Ltd. The JV signed a license and trademark agreement with KCI Konecranes.
In the joint venture Shanghai Qingjie Colour-Coated Steel Sheet Co., Ltd. has a 63% holding, KCI Konecranes has 25% and Euro Mechanical & Electronic Co., Ltd has 12%.
KCI Konecranes manufactures hoists which are the key component of industrial cranes in its 100% owned new factory in Shanghai, China. As cranes are not easily transported over large distances, crane builders are usually organised on a regional base. To accelerate the penetration of KCI Konecranes hoists and crane technology in China, KCI Konecranes is in the process of establishing a network of local crane builders exclusively using KCI Konecranes’ efficient crane building technology and components.
The joint venture will manufacture KCI Konecranes industrial cranes under license and is part of KCI Konecranes network of crane builders in China. The Shanghai High Tech Industrial Crane Co. will focus on the Shanghai area.
The registration of the joint venture is in process and is expected to be fully operational in the beginning of year 2003.
KCI Konecranes, headquartered in Hyvinkää, Finland is a world leading Engineering Group specialising in advanced overhead lifting solutions and maintenance services. In 2001, Group sales totalled EUR 756 million with over 4400 employees in 34 countries all over the world.
For further information, please contact:
Konecranes International Plc
Matti Ruotsala, Chief Operating Officer
Tel. +358-20 427 2007
