Hans-Georg Frey: unrivaled portfolio

Jungheinrich AG and Anhui Heli Co. Ltd. (Heli) have announced a joint venture for materials handling equipment rentals in the Chinese market.

Jungheinrich and Heli will each hold a 50% stake in the joint venture which has a registered capital of RMB200 million (USD30 million).

The company will be headquartered in Shanghai and operations are scheduled to begin in the middle of 2016.

The establishment of the joint venture is subject to the customary approvals.

The joint venture will create the largest materials handling equipment rental company in the Chinese market, combining Jungheinrich's long-standing global expertise in the rental business and Heli's expansive sales and service network in the country. The combination of the two partners creates a portfolio unrivaled by any other rental company, says Hans-Georg Frey, Chairman of the Board of Management of Jungheinrich.

The joint venture encompasses Jungheinrich's and Heli's entire product portfolios and will be exclusively responsible for materials handling equipment rentals in China going forward. The portfolio of the two partners will turn the joint venture into a full-liner, offering everything from simple hand pallet trucks to heavy-duty, IC engine-powered counterbalance trucks.

The expansive network with nationwide coverage in China guarantees extremely short reaction times.

The JV will offer flexible rental periods from one day to 60 months.

"The customer benefits from a significantly expanded product range, bespoke rental solutions and a strong and reliable service network," says Dr. Lars Brzoska, member of the Board of Management in charge of sales at Jungheinrich AG. "This partnership is a major step for Jungheinrich en route to strengthening its position in China substantially and achieving its growth targets."