With the rapid economic growth, Shandong has made great progress in various industries. To seek long-term development of the industry, enterprises in Shandong begin to cooperate with foreign industry giants.

Terex Corporation announced August 17 that it has entered into an agreement to acquire 65 percent control of the privately held Shandong Topower Heavy Machinery Company located in Jinan, Shandong, a company which currently manufactures lattice boom crawler cranes in the 70 to 360 ton class.

The Materials Processing joint venture, of which Terex will be 60 percent owner, will manufacture jaw crushers, cone crushers, impact crushers and screens for aggregates, mining and material recycling applications.

Founded in 2007, Topower Cranes has quickly established a reputation for producing high quality crawler cranes that are now mostly serving the energy industry, but have wider potential applications in Chinese and other Asian markets.

By Yu Meng and Liu Yang