Manitowoc and TaiAn Dongyue JV

US-headquartered crane manufacturer Manitowoc has announced a joint venture agreement with Chinese crane manufacturer TaiAn Dongyue Heavy Machinery Co Ltd.

It is a 50% interest with an agreement for more in future.

TaiAn Dongyue manufactures mobile hydraulic cranes in TaiAn City, Shandong Province, about 500 kilometres south of Beijing.

The company was started in 1972 and its 900 employees build cranes for the Chinese market.

“This transaction solidifies Manitowoc's position in one of the world's fastest growing construction markets,” said Eric Etchart, president of Manitowoc Cranes. “By acquiring a joint venture interest in TaiAn Dongyue, Manitowoc furthers its mission of bringing manufacturing and service closer to the customer.”