Manitowoc and Shantui announce mobile cranes JVon Jan 27, 2013
Manitowoc Cranes and Shantui (Shantui Investment Co Ltd) have formed a joint venture to build mobile cranes in China both for the Chinese market and for export markets.
The deal will see Manitowoc tap into Shantui's vast dealer network in China, and the product will also be sold through Manitowoc’s own dealer network for truck cranes. The JV and its network will also be the exclusive dealer for Grove all-terrain and rough-terrain cranes imported into China.
It's a deal that should prove complimentary for both companies. In contrast with its presence in other emerging markets globally, Manitowoc has struggled to establish a strong market share in China, in part due to challenges of setting up distribution networks.
The JV also allows Shantui to step into the mobile crane market, one area of the construction equipment business where it does not have a presence.
Eric Etchart, president and general manager of Manitowoc Cranes, said both companies would boost their businesses with the new arrangement.
"Shantui is one of China’s leading manufacturers of earthmoving equipment and the company is looking to develop its presence in the country’s mobile crane market. Similarly 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.
"This new arrangement will not only create a new leading manufacturer of mobile cranes in China, but it will also boost sales of Grove AT and RT cranes in the country through Shantui’s excellent dealer network.”
Initially the JV will manufacture four truck cranes, with a range of 8t, 10t, 20t and 25t models. Others are set to follow, though.
Named the Manitowoc Crane Company, Ltd, operations will begin once governmental approval is obtained.
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