Tat Hong Holdings, an international crane rental specialist based in Singapore and listed on the Singapore Stock Exchange, last week announced a joint venture in China. Tat Hong is allying with Zhong-Jian Zhenghe Construction Machinery to launch a tower crane rental business in China.
The joint venture company, Shanghai Zheng He Tat Hong Construction Equipment Rental will have an initial paid-up capital of about U.S. $90 million. The Chinese joint venture partner will contribute 35 tower cranes worth about U.S. $45 million, according to Asian news sources.
Tat Hong chief executive Ng San Tiong Roland said in July 2006 that the company planned to launch a crane rental company in China.
Tat Hong is believed to be the largest crane rental company in the Asia Pacific region.