In September 2018, Eurocrane announced that it planned to offer EUR 49 million (about RMB 389 million) to acquire 100% shares of RVH and RVB, through the acquisition subject of Eurocrane Austria Holding and eventually realized 100% control over Voith-Werke Ing. A. Fritz Voith Gesellschaft m.b.H & Co KG (hereinafter referred to as “Voithcrane”). All parties to this transaction signed an Equity Purchase Agreement on September 11, 2018.

On the evening of December 11, 2018, Eurocrane (China) Co., Ltd. (hereinafter referred to as “Eurocrane”) issued a notice stating that it had completed the transfer of shares. According to the notice, on December 10, 2018, all parties to the transaction signed a Transfer Memorandum and other legal documents and confirmed that all transfer conditions had been met. As agreed in the Equity Purchase Agreement, Eurocrane paid all transaction considerations. The shares of RVH and RVB were transferred to Eurocrane Austria Holding. The company had completed all transfer matters successfully. Upon the completion of the transfer, Eurocrane Austria Holding directly held 100% shares of RVH and RVB and eventually held 100% shares of Voithcrane. 

A high-end European crane brand was acquired and complementation in product and technology was achieved
Headquartered in Linz, Austria, Voithcrane is a company mainly engaged in the R&D, manufacture, installation and after-sales services of special cranes and material handling solutions. The main products include automatic cranes, metallurgical cranes, electromagnetic cranes, vacuum lifters, stacking cranes and grab bucket cranes, etc. The company has more than 60 years of profession experience in the special crane industry. Being technically innovative, safe and reliable, the products enjoy a high reputation in the European market and also in the automobile, metal, steel and wood industries, etc.