May 1, 2008 • As previously reported by LiftandAccess.com, the Manitowoc Company and its cranes division, based in Manitowoc, Wis., has formed a joint venture with Chinese crane manufacturer TaiAn Dongyue Heavy Machinery Co., Ltd.
Eric Etchart, president of Manitowoc's crane division, said this partnership allows Manitowoc to continue its global expansion and fulfill its goal of locally manufacturing and servicing cranes. “This transaction solidifies Manitowoc's position as one of the world's fastest-growing construction equipment manufacturers,” he said. “By acquiring a joint venture interest in TaiAn Dongyue, Manitowoc furthers its mission of bringing manufacturing and service closer to the customer.”
TaiAn Dongyue Heavy Machinery is located in TaiAn City, Shandong Province, China, approximately 300 miles south of Beijing. The company was founded in 1972 and is a major player in the Chinese mobile hydraulic crane segment. It employs a workforce of 900 experienced professionals who manufacture and assemble mobile hydraulic truck cranes for the Chinese market. The factory and land are roughly equivalent to Manitowoc's Shady Grove factory in Pennsylvania.
This is Manitowoc's second major expansion in the Chinese market. Manitowoc previously had a joint venture in a tower crane factory in Zhangjiagang, China, before making it a wholly owned factory.
“The manufacturing facility in TaiAn is an excellent complement to Manitowoc's business development initiatives in China,” Etchart said of the strategy behind the partnership. “We are now very well positioned near China's two fastest-growing cities and also well positioned to serve continuing development throughout central and northern China.”
China is the leading market for mobile hydraulic cranes, accounting for more than 70 percent of all mobile hydraulic units produced in 2006.
