Shantui and Manitowoc agree joint venture to manufacture cranes in China
Manitowoc Cranes and Shantui Investment intend to form a new joint venture. This will build mobile cranes in China for both domestic and export markets. The name of the joint venture will be Shantui Manitowoc Crane Company, and it will commence operations once all relevant approvals are received. Within China, the cranes produced by the joint venture will be sold through Shantui’s vast domestic dealer network, in addition to Manitowoc’s own dealer network for truck cranes. The joint venture and this distribution network will also be the exclusive dealer for imported Grove all-terrain and rough-terrain cranes into China. In addition, this distribution network will provide full Manitowoc Crane Care parts and service support for the products it sells. Manitowoc and Shantui will use their existing distribution networks for sales of cranes from the joint venture to the export market.
To begin, the joint venture will produce four truck cranes, the GT8, GT10, GT20 and GT25, with capacities of 8tonnes, 10tonnes, 20tonnes and 25tonnes respectively. Other crane models will follow in due course. In the domestic market, plus export markets managed by Shantui, it is planned that the cranes will be branded Shantui Grove. For export markets managed by Manitowoc, it is planed that the cranes will be branded Grove Shantui. The cranes will be manufactured at Manitowoc’s current joint venture facility in Tai’an.
Stand: FGN. N1018/5