Kone And Far East-Levingston In Joint Venture For Crane Manufacturing In Singapore

Kone Corporation and Far East-Levingston Shipbuilding Ltd. (FELS) recently announced that they have entered into a joint venture agreement for the production, manufacturing, assembly, and sale of harbor and shipyard cranes and bulk material handling systems in Singapore, as well as in marketing, distribution, delivery, and aftersales services in the Asian region.

The new company will be named Kone FELS Cranes Pte. Ltd.

(KFC).

Kone Corporation of Finland is one of the leading manufacturers of materials handling equipment in the world.

The new joint-venture company will be Kone's fifth operation in Singapore, the others being Kone Regional office for the Far East; Kone Elevator Pte. Ltd.; Kone Products & Engineering (S) Pte. Ltd., and Navire Cargo Gear Southeast Pte. Ltd.

The market for different materials handling equipment in the Far East countries looks very promising for the next 10 years.

This is the main reason, Kone reported, for establishing a production facility in Southeast Asia.

KFC will market its products in the Far East as part of its worldwide marketing and production network. With the establishment of KFC, Kone will now have two crane plants to meet worldwide demand. The other plant is in Finland.

The joint-venture was conceived with the close cooperation of Singapore's Economic Development Board (EDB) and the Jurong Town Corporation (JTC).

The project has been granted, in principle, pioneer status by EDB and a 2.2 hectare piece of land was made available to KFC by JTC for the joint venture. The construction of the plant will commence this year.

The joint venture is also in line with the diversification plan mapped out by FELS. KFC is FELS's third separate enterprise in the area, with the other two being wholly owned subsidiaries: FELS Consultancy Pte. Ltd. and Brightway Property Pte. Ltd.

Maritime Reporter Magazine, page 10, Jan 15, 1983

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