Jungheinrich AG and Anhui Heli Co. Ltd. are establishing a joint venture for material handling equipment rentals in China, the companies said. Jungheinrich and Heli will each hold a 50 percent stake in the joint venture, with registered capital amounts to 200 million RMB (about U.S. $30.6 million). The companies expect to begin operations around the middle of 2016.
The establishment of the joint venture is still subject to customary approvals.
The joint venture will create the largest material handling equipment rental company in China, the players said. Jungheinrich has global expertise and experience in equipment rental, and Heli, China’s biggest material handling equipment supplier, owns a large expansive sales and service network, the company said.
“Jungheinrich has more expertise in material handling equipment rentals than any player in the field of intralogistics,” said Hans-Georg Frey, chairman of Jungheinrich’s board of management. “Paired with Heli’s expansive sales network, we will create the largest rental company on the Chinese market.”
The joint venture encompasses Jungheinrich’s and Heli’s entire product portfolios and will be exclusively responsible for material handling equipment rentals in China.
