# Cargotec and RHI establish joint venture in China

Cargotec announced a joint venture with Jiangsu Rainbow Heavy Industries (RHI) to produce cranes in China, with a €30m equity investment for a 49% stake, and a €50m investment for a 49% stake in RHI's holding company.

- Type: Acquisition
- Announced: 2023-10-13
- Where: China
- Value: $85.0M (80.0M EUR)
- Status: announced
- Products: ship-to-shore cranes, rubber-tyred gantry cranes, rail mounted gantry cranes, marine speciality cranes
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Carlyle Group](https://endata.com/companies/458.md) (investor)
- [Cargotec](https://endata.com/companies/1832.md) (acquirer)
- [Jiangsu Rainbow Heavy Industries](https://endata.com/companies/22581.md) (partner)
- [China Crane Investment Holdings](https://endata.com/companies/73407.md) (target)

## Sources

- [wowgilden.net](https://wowgilden.net/drda/forum-topic_440556.html), 2023-10-13: "This joint venture between Cargotec and RHI would be a strategically important step for Cargotec to expand its presence and offering as well as to improve competitiveness in China."
- [wowgilden.net](https://wowgilden.net/Antiheros/forum-post_1602006.html), 2023-10-13: "This joint venture between Cargotec and RHI would be a strategically important step for Cargotec to expand its presence and offering as well as to improve competitiveness in China."

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