Equipment manufacturer Terex Corp. announced May 16 that it is ending its plan to merge with Konecranes, and will instead sell its material-handling and port solutions [MHPS] unit to the Finnish-based company for $1.3 billion.
General Electric subsidiary Alstom and China contracting giant Sinohydro Corp. have signed an agreement in principle to build, operate and maintain what would be Israel’s largest pumped-storage project, a 340-MW facility to be built in northern Israel.
China-based Zoomlion may have ruffled some feathers when it offered to buy Terex Corp. for roughly twice its share price, but according to sources with Terex the long-planned merger with Finland-based Konecrane is still moving along.
Indonesia sprung a surprise on Jan. 28, suspending a $5.5-billion high-speed-rail project that is being implemented by a Chinese company and financed by the China Development Bank.
Local Chinese officials in Henan province cited the failure to obtain proper government approval as the reason for demolishing a monument to Mao Zedong just days after its completion.