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 News Release
April 30, 2008
Manitowoc expands in China
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| The TaiAn Dongyue factory manufactures and assembles mobile hydraulic truck cranes for the Chinese market. |
High Resolution Photograph
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, says 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 Co., Ltd. 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, U.S.
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. Eric Etchart explains the strategy behind the latest partnership.
“The manufacturing facility in TaiAn is an excellent complement to Manitowoc’s business development initiatives in China,” Etchart said. “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.
About The Manitowoc Company
The Manitowoc Company, Inc. is one of the world's largest providers of lifting equipment for the global construction industry, including lattice-boom cranes,tower cranes, mobile telescopic cranes, and boom trucks. As a leading manufacturer of ice-cube machines, ice/beverage dispensers, and commercial refrigeration equipment, the company offers the broadest line of cold-focused equipment for the foodservice industry. In addition, the company is a leading provider of shipbuilding, ship repair, and conversion services for government, military, and commercial customers throughout the U.S. maritime industry.
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