Kalmar sells crane division
The Finnish transshipment crane and vehicle manufacturer Kalmar, owned by Cargotec, has sold its gantry and container crane division to China’s Rainbow Industries (CRI).
Cargotec/Kalmar initially wanted to merge with Konecranes. Because the United Kingdom competition authorities prohibited this, Cargotec decided to withdraw from the heavy-lifting crane business.
Kalmar continues to focus on straddle carriers, reach stackers, shuttle carriers, spreaders and forklifts. It is relinquishing rail-mounted gantry cranes, free-running cranes on rubber tires and stacker cranes. Those machines are already being produced for Kalmar by CRI at its Taicang plant.
Kalmar and CRI have been working together since 2011. Kalmar has 40 employees in China, who are transferring to CRI. Depending on the approval of the Chinese authorities, the companies hope to complete the process in September.
Cargotec estimates the cost of the restructuring at €36 million but also expects its 2022 profit to be higher than the €232 million of the year prior.