HIAB SETS UP KOREAN MANUFACTURING JOINT VENTURE

Loader crane manufacturer Hiab is set to expand its presence in Asia through a manufacturing joint venture between associate company Partek Cargotec Korea and Hana Special Vehicle. The new company, Hiab Hana, is 70% owned by Partek Cargotec and will manufacture truck-mounted cranes and ladder systems.

Cranes will be branded Hiab, ladder systems Hana. Hana is the market leader in ladder systems in Korea. Hiab Hana will continue to import certain Hiab and Jonsered cranes into Korea.

“We have maintained a good position through our sales company in Korea. Now we aim to reach a leading position in the crane industry in the Asia region,” said Partek Cargotec president Olof Elenius. “The possibility of local manufacturing leads to more cost competitive products and applications tailored to meet market requirements.

“Hana was one of our local competitors and the merger will bring synergies in crane production.”