Chinese aerial work platform manufacturer Zhejiang Dingli Machinery Co. (Dingli) has spent €14.4 million to purchase a 20% share in Italian telehandler manufacturer Magni. Dingli has also been appointed as Magni's exclusive importor and distributor for all Magni products throughout China.
The two companies will also invest in a joint resesarch and development center located in Europe that will focus on a new range of boom lifts that will "incorporate new concepts in design to improve substantially the performance of this product with the ambition to be the best AWP on the market," a statement said.
"Dingli’s strength in the AWP sector is renowned around the world and my 30 years of experience in the design and production of innovative telescopic machines will mean Dingli’s AWP range will be an even greater force to be reckoned with," said Magni TH President Riccardo Magni said.
Zhejiang Dingli Co. president Xu Sughen added, "As family company, Magni TH shares the same core values as Dingli, is driven by innovation and has a world-beating product range. Dingli is already the largest manufacturer of AWP in China. This agreement will strengthen Dingli’s position in the AWP sector.”