Westport, Conn.-based Terex Corp. last week announced that it acquired a 50 percent interest in Sichuan Changjiang Engineering Crane Co. Ltd., based in Luzhou, Sichuan Province, China. Changjiang Crane is a producer of on-highway truck cranes in China, with a product range from 8 to 160-ton lifting capacity. The senior management of Changjiang Crane will own the remaining 50 percent interest in the company. Changjiang Crane will become part of the global operations of the Terex Cranes operating segment, and Terex expects to consolidate the results of Changjiang Crane with those of the Terex Cranes segment.
Currently, Chinese regulations generally limit foreign enterprises from owning more than 50 percent of domestic companies that produce on-highway vehicles, including truck cranes. If and when regulations permit, Terex has the right to acquire the remaining 50 percent of Changjiang Crane.
