On June 15, Finnish industrial group Konecranes announced the receipt of an order in April for 90 heavy industrial cranes from China-based steel company Marcegaglia China, part of the Italian-owned industrial and financial company Marcegaglia.
According to a statement released by Konecranes, the cranes will be installed and used in Marcegaglia's new pipe manufacturing factory which is currently under construction. The first cranes will be delivered in September 2009 and the last in July 2010.
The pipe factory under construction in Yangzhou is planned to produce 350,000 mt of steel pipes per year for the Chinese hydraulic cylinder and automotive industry.
The parties have agreed not to disclose the value of the order.