Jungheinrich AG and Anhui Heli Co. Plan Joint Venture for Rental in China
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.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.