Suzhou Wujiang-based crane company Franktek announced that it will invest 49 million Euros to acquire an Austrian company. The deal will mark the largest single purchase Wujiang-based enterprises have made in their overseas expansion.
This hoist, with a maximum lifting capacity of 600 tons, is a large-weight crane accessory developed by Frantek in recent years.
The company relies on heavy machinery, transmission equipment and engineering machinery components to achieve core technological breakthroughs and boost core component manufacturing capabilities, enabling its products marketed in more than 50 countries and regions around the world.
While increasing production and research and development efforts, the company has increased its investment and business layout in the international market around the country’s Belt and Road initiative.
The Austria-based Foss Crane Company, which will be wholly-owned by Frantek through acquisition, is the leader in the automated crane industry with a world-leading technical level and talent team.
The wholly-owned acquisition will enable the company to make inroads into Europe, where the equipment manufacturing industry is developed, and accelerate its layout in the field of intelligent manufacturing to make it a leader in the high-end crane industry.
(Source: ourjiangsu.com)
