# Cargotec transfers Kalmar heavy crane IP and assets to RIC in China

Cargotec entered an agreement to transfer Kalmar's heavy crane intellectual properties and assets (RTGs, RMGs, STS, ASC) to Rainbow Industries Co. Ltd. (RIC) in Taicang, China. About 40 Kalmar employees in China will join RIC, with completion expected in September 2022.

- Type: Acquisition
- Announced: 2022-09-15
- Where: Taicang, China, China
- Jobs: 40
- Status: announced
- Products: rubber-tyred gantry cranes, rail-mounted gantry cranes, ship-to-shore units, automatic stacking 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) (target)
- [Rainbow Industries Co. Ltd.](https://endata.com/companies/48357.md) (acquirer)

## Sources

- [portstrategy.com](https://www.portstrategy.com/news/products-services/cargotec-does-kalmar-china-deal/), 2022-09-15: "This will be an important step for Kalmar."

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