Manitowoc and Shantui have signed a joint venture (JV) agreement to build cranes in China, IC learned exclusively. Subject to Chinese authority approval, Shantui Manitowoc Crane Company will build truck cranes for the domestic and export markets. Shantui, part of Shandong Heavy Industry, will hold 51 per cent and Manitowoc 49 per cent of the new JVentity. It will be structured so that Manitowoc is responsible for design engineering, manufacturing engineering, plant and product quality, which will  follow the approach taken in other Manitowoc factories around the world. Shantui will handle operations, financing and purchasing, plus the domestic distribution.
?I am very pleased with the co-operation between the Shantui and Manitowoc teams to create a new company that leverages the strengths of both,? said Jiang Kui, president of Shandong Heavy Industry Group.