NEWS
Combining strengths
Cargotec establishes joint venture in China
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argotec has established Sinotruk (Shandong) Hiab Equipment Company Ltd, a joint venture with China National Heavy Duty Truck Group Co., Ltd. (CNHTC), in China. Cargotec’s ownership in the joint venture is 50%. The plans for the joint venture were published in July 2012. Cargotec’s
estimated equity investment in the joint venture during the first operational year is approximately €10 million. CNHTC is a leading Chinese manufacturer of heavy-duty trucks and the parent company of Sinotruk. CNHTC’s extensive network, including dealers and service stations all over China, will be used by the joint venture for the distribution, sales and services of Hiab’s cranes and hooklifts. The joint venture will also further develop CNHTC’s existing truck crane offering and production base for the Chinese market. By combining both companies’ technical know-how, the joint venture is expected to become a significant player in the truck crane business in the near future, particularly in China. Visit: www.cargotec.com
Boeing and Saab sign joint development agreement
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oeing and Saab AB have signed a joint development agreement (JDA) to jointly develop and build a new advanced, cost-efficient T-X Family of Systems training solutions for the upcoming competition to replace the US Air Force’s aging T-38 aircrew training system. The JDA, with Boeing as the prime contractor and Saab AB as primary partner, covers areas including design, development, production, support, sales and marketing. “Teaming with Saab will bring together our companies’ formidable technical expertise, global presence, and willingness to present an adaptable and affordable advanced pilot training solution,” said Boeing Military Aircraft president Chris Chadwick. “Boeing and Saab form the foundation for what will be the strongest, most cost-effective industry team.” The US Air Force T-X program will include aircraft and training that will prepare warfighters for the next 40 years. The Air Force plans to replace
Dassault Systèmes to acquire Realtime Technology AG
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assault Systèmes has announced the signing of an acquisition agreement for an 84% controlling interest in Realtime Technology AG (RTT), the leading provider of professional high-end 3D visualisation software, marketing solutions and computer generated imagery services, benefit-
16 Industry Europe
the T-38 with a new Advanced Pilot Training Family of Systems and about 350 aircraft, plus associated ground-based training systems and logistics and sustainment support. The trainer solution from Boeing and Saab and other potential team members will be a newly designed aircraft, built to meet the needs of the USAF. Visit: www.saabgroup.com
ing from the development of the fast-growing marketing automation market. This acquisition of Munich-based RTT will include its software division, known for its DeltaGen, PictureBook, POS Configurator and other solutions, and its marketing consulting services. It will also include subsidiary Bunkspeed, with its line of powerful and intuitive rendering software. RTT’s list of customers
Fortum sells its Finnish electricity distribution business
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ortum has agreed to sell its electricity distribution business in Finland to Suomi Power Networks Oy, which is owned by a consortium of Finnish pension funds Keva (12.5%) and LocalTapiola Pension (7.5%) together with international infrastructure investors First State Investments (40%) and Borealis Infrastructure (40%). The total consideration is €2.55 billion on a debt- and cash-free basis. Fortum expects to complete the divestment process during the first quarter of 2014 subject to the necessary regulatory approvals as well as customary closing conditions. A total of 320 employees will transfer with the business at closing with existing terms of employment. Fortum’s electricity distribution business in Finland includes two jointly managed grid companies: Fortum Espoo Distribution Oy, with grids in the city of Espoo and surrounding communities and the city of Joensuu, as well as Fortum Sähkönsiirto Oy, with several grid areas located mainly in southern and western Finland, but also in the north-western part of the country. The combined network length of the companies is 79,000km, delivering approximately 12.6 terawatt- hours of electricity to customers. Fortum’s market share of the local electricity distribution in Finland is approximately 20%. Visit: www.fortum.com includes Hugo Boss, adidas, Airbus, Audi, BMW, Daimler, Electrolux, Eurocopter, Ferrari, General Motors, Harley-Davidson, Nissan, Porsche, The North Face, Toyota and Volkswagen. “The people at RTT have demonstrated remarkable talents in delivering innovative solutions to their clients,” said Bernard Charlès, president & CEO of Dassault Systèmes. Visit: www.3ds.com
