# 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.

- Type: Acquisition
- Announced: 2020-06-03
- Where: Taicang, China, China
- Jobs: 160
- Status: completed
- Products: port and offshore cranes
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Cargotec](https://endata.com/companies/1832.md)
- [Kalmar](https://endata.com/companies/4960.md) (partner)
- [Rainbow-Cargotec Industries](https://endata.com/companies/22580.md) (target)
- [Jiangsu Rainbow Heavy Industries](https://endata.com/companies/22581.md) (acquirer)
- [Jiangsu Rainbow Heavy Industries](https://endata.com/companies/22581.md) (partner)
- [Rainbow Industries Co. Ltd.](https://endata.com/companies/48357.md) (partner)

## Sources

- [kalmarglobal.com](https://www.kalmarglobal.com/news--insights/articles/2020/20200603_rci-jv-rearrangement/), 2020-06-03: "Cargotec has sold its 49% ownership in RCI to the joint venture partner, simultaneously acquiring certain operations and assets from RHI."
- [kalmar.cn](https://www.kalmar.cn/news--insights/press_releases/2020/cargotec-completes-the-ownership-change-of-joint-venture-in-china/), 2020-06-05: "卡哥特科已完成其在华合资企业润邦卡哥特科工业有限公司（RCI）的股权出售。"
- [logistics-manager.com](https://logistics-manager.com/cargotec-plans-to-change-the-ownership-structure-of-the-joint-venture-in-china/), 2020-06-14: "Cargotec will sell its 49% ownership in RCI to the joint venture partner, and simultaneously acquire certain operations and assets from RHI."
- [logistics-manager.com](https://logistics-manager.com/cargotec-completes-ownership-change-of-joint-venture-in-china/), 2020-07-03: "The change aims to simplify Cargotec's global supply chain operations."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.