shantui construction manitowoc cranes Joint venture

Shantui Construction Machinery Company and Manitowoc Cranes recently entered into an agreement to set up facility to manufacture truck cranes, truck mounted cranes, and the related parts and accessories. The agreement was signed between Shantui Chairman Mr. Zhang Xiuwen and Manitowoc Board of Directors Chairman Mr. Glen Tellock and the new entity, which has been named as Shantui Manitowoc Crane Company, will be based in the city of Tai'an. According to Shandong Heavy Industry Group Chairman Mr. Tan Xuguang, the collaboration between Shantui and Manitowoc is a major boon to Shantui particular and to the Heavy Industry Group in general. The product offerings of Shantui will be diversified, and the technical quality of the products will be much improved. Tai'an Mayor Mr. Wang Yunpeng expressed great enthusiasm for the venture, stating that the Shantui Manitowoc Crane Company will revitalize the equipment manufacturing industry in Tai'an. Manitowoc Chairman Mr. Glen Tellock stated that his company is committed to providing the most complete and innovative solutions to customers, while providing outstanding service.

Founded in 1902 in Manitowoc, Wisconsin, U.S.A., Manitowoc Cranes is a world-leading manufacturer of lifting equipment. This vast experience combines with Shantui's sales network to form a well-rounded partnership. The joint venture came into being when Manitowoc Cranes acquired Dongyue Heavy Industry Company from Taishan Heavy Industries. After the acquisition, Shantui and Manitowoc agreed to jointly invest in the company. According to the agreement, Shantui possesses 51% equity interest to Manitowoc's 49%.The business will also engage in research and development, and offer training and after-sales support to customers. "We're excited to see what this partnership has in store," said Shantui General Manager Mr. Wang Fei, "This is a major development not only for our company, but for the Chinese construction machinery industry as a whole." In fact, in China, Shantui's name has long been synonymous with the word “bulldozer.” Today, Shantui is not only the world's largest maker and seller of brand name dozers, but also offers a highly diversified line of construction, road, public utility vehicles and cement handling machinery, making everything from wheel loaders and road rollers to truck cranes and motor graders, to forklifts and excavators. Shantui is a distinguished top China Brand and a leading Chinese multinational corporation with sales in more than 120 countries and regions worldwide.