April 2008

Manitowoc forms joint venture with Chinese manufacturer

The Manitowoc Company, Inc. has formed a joint venture with the shareholders of TaiAn Dongyue Heavy Machinery Co., Ltd. for the production of mobile and truck-mounted hydraulic cranes. The joint venture is located in TaiAn City, Shandong Province, China. Terms of the transaction were not disclosed.

TaiAn Dongyue was founded in 1972 and is a major player in the Chinese mobile hydraulic crane segment. The company uses a new, purpose-built, 614,000-square foot facility located in a modern industrial park that is staffed by a workforce of over 900 professionals who are highly experienced in the manufacture and assembly of mobile hydraulic truck cranes for the Chinese market.