29.07.2012

Tat Hong acquires Chinese leasing company

Singapore based crane and equipment company Tat Hong has acquired Jiangsu Hengxingmao Financial Leasing from Yongmao for $2.6 million.

Hengxingmao is based in Jintan City, China and has a licence to provide finance leasing, rental and to sell a range of equipment including tower cranes. The company was set up by Yongmao two years ago but has been dormant since then.

Tat Hong says that the acquisition will allow it to operate finance leases for tower cranes more efficiently and cost effectively.