# Cargotec transfers heavy crane business to Rainbow Industries in China

Cargotec has agreed to transfer its STS and yard gantry crane assets and intellectual property to Rainbow Industries Co Ltd (RIC) in China. Around 40 local Kalmar employees will move to RIC, with the transfer expected from September 2022.

- Type: Acquisition
- Announced: 2022-07-01
- Where: Taicang, China, China
- Jobs: -40
- Status: announced
- Products: STS cranes, yard gantry cranes, RTG cranes, RMG cranes, ASC cranes
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Cargotec](https://endata.com/companies/1832.md)
- [Rainbow Industries Co. Ltd.](https://endata.com/companies/48357.md) (acquirer)

## Sources

- [worldcargonews.com](https://www.worldcargonews.com/business/2022/07/cargotec-transfers-heavy-cranes-business/), 2022-07-01: "This will be an important step for Kalmar. We have had a long partnership with RIC and we are pleased that they would be taking over in China and we could secure a smooth transition for our customers."

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