Kalmar transfers heavy crane intellectual property to Chinese partner RIC
Cargotec-owned Kalmar is offloading its heavy crane intellectual property and assets to Rainbow Industries Co. Ltd in China to focus on mobile cargo equipment.
Kalmar, a business area within the Cargotec group, has finalized an agreement to transfer its intellectual property and assets related to heavy cranes to China-based Rainbow Industries Co. Ltd (RIC). The deal covers rubber-tyred gantry cranes, rail-mounted gantry cranes, ship-to-shore cranes, and automatic stacking cranes currently manufactured at RIC’s facility in Taicang. As part of the transition, approximately 40 Kalmar employees are expected to transfer to the Chinese firm.
This move marks a strategic shift for Kalmar, which intends to prioritize mobile cargo-handling equipment, spreaders, and lifecycle services. While the company is offloading heavy crane manufacturing, it confirmed plans to continue providing automation solutions and crane services to global customers. The transaction is pending approval from local Chinese authorities, with an expected completion date in September.
Cargotec plans to record restructuring costs of 36 million euros across the second and third quarters of 2022. Despite these charges, the company maintains its full-year outlook, projecting that its comparable operating profit for 2022 will exceed the 232 million euros reported in 2021.