Cargotec sells 49% stake in RCI joint venture to Rainbow Industries

Cargotec sold its 49% ownership in Rainbow-Cargotec Industries (RCI) to joint venture partner Jiangsu Rainbow Heavy Industries, while acquiring certain operations and assets from RHI. The partner renamed to Rainbow Industries Co. Ltd. (RIC), and Kalmar gained over 160 new colleagues in China and Finland.

“Cargotec has sold its 49% ownership in RCI to the joint venture partner, simultaneously acquiring certain operations and assets from RHI.”kalmarglobal.com

• 4 sources
• kalmarglobal.comcustomer benefits of RCI joint venture rearrangementJun 3, 2020
• kalmar.cn卡哥特科集团已完成在华合资企业的所有权结构变更Jun 5, 2020
• logistics-manager.comCargotec to change Ownership Structure of Joint Venture in ChinaRyan FinnJun 14, 2020
• logistics-manager.comCargotec completes Ownership Change of Joint Venture in ChinaRyan FinnJul 3, 2020

Summarized from public sources; check the original articles before acting on it.