2009-02-16 | Helsinki
Helsinki, Finland, February 16, 2009 - Cargotec Corporation today effects the acquisition of a controlling stake in Shanghai Huaguan Special Purpose Vehicle Co. Ltd. and the formation of the new joint venture Shanghai Huaguan Hiab Special Purpose Vehicle Co., Ltd. The joint venture, which as its name suggests, intends to manufacture, sell and service special purpose automotive vehicles and lifting equipment, has received the much coveted government sanctioned SPV gazette qualification.
The transaction, one of the largest by a Finnish company in China in the automotive sector, is representative of the kind of work E. J. McKay is engaged in, that of "advising a highly selective group of key clients in their significant cross-border transactions that create measurable synergy and transform the economics of the impacted industry,” commented James Z. Li, CEO of E. J. McKay.
One of the largest corporations in Finland, Cargotec improves the efficiency of cargo ﬂows by offering handling systems and the related services for the loading and unloading of goods. Cargotec's brands, Hiab, Kalmar and Macgregor, are global market leaders in their ﬁelds and their solutions are used on land and at sea – wherever cargo is on the move.
Hiab is the global market leader in on-road load-handling solutions. Kalmar is a global provider of container and heavy duty materials handling equipment, automation applications and related services. Macgregor is a global provider of marine cargo ﬂow and offshore solutions.
Shanghai based Huaguan is a leading Chinese special purpose vehicle manufacturing company. The company is known for quality and long-term customer relationships in the municipal waste transportation vehicles and other custom designed automotive vehicles as per customer needs. Huaguan has the largest market share in waste transportation vehicles in Shanghai, the largest city in China, with products distributed all over the country.