China: The Manitowoc Company has formed a joint venture with Chinese crane manufacturer TaiAn Dongyue Heavy Machinery.
Located in TaiAn City in Shandong Province, some 300 miles south of Beijing, the manufacturer is a leader in the Chinese mobile hydraulic cranes market, according to Manitowoc. It was founded in 1972 and has a 900-strong workforce, with facilities “roughly equivalent” in land area to its US partner's Shady Grove factory in Pennsylvania.
Eric Etchart, president of Manitowoc's crane division, said the venture allowed the company to continue its global expansion, as well as bringing crane manufacturing and services closer to the customer.
“This transaction solidifies Manitowoc's position in one of the world's fastest growing construction markets. We are now very well positioned near China's two fastest growing cities, as well as to serve continuing development throughout central and Northern China,” continued Etchart.
This is Manitowoc's second expansion into the Chinese market. The company previously had a joint venture in a tower crane factory in Zhangjiagang, before making it a wholly owned factory.