SHANGHAI, CHINA — Martin M. Lin has been appointed chairman of China at Cargotec Industries (China) Co., Ltd., effective Aug. 1, the company announced on June 24.
He will report to Cargotec's President and Chief Executive Officer Mika Vehviläinen and will be located in Shanghai. His main task is to build relationships with the Chinese government and other stakeholders in China supporting the growing business.
Lin comes most recently from Textron China Inc., a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses, where he has held a position as president from 2008. Before that he has held several strategic senior positions at Rockwell Collins for 24 years, establishing and developing the operations both in the United States as well as in China.
"As the importance of Asia for Cargotec increases, both in growth and development of the production and logistics, a strong presence and understanding of the plans and needs of different stakeholder groups, e.g. decision makers, are extremely important. Martin's experiences of cooperation with governmental agencies in multi-industrial businesses is valuable for Cargotec and its joint ventures in China and I warmly welcome him to the Cargotec family," said Vehviläinen.
"My background, born and studied in Taiwan, 16 years in the United States and working in multinational companies in China for over 20 years, has strengthened my capabilities to learn and understand the changing business environment in China. I am happy to join Cargotec, a company which is a market leader in all its business areas," said Lin.
The Asia-Pacific region accounted for 28% of Cargotec's sales in the first quarter of 2014 and China is among the top five countries in terms of sales. The history of Cargotec in the region started in 1973 when Hiab entered Japan. The latest expansion of the business, a joint venture with Sinotruk, took place in early 2014.
Since Russia’s invasion of Ukraine in February, the world’s wheat supply has been thrown into question, with poorer nations facing scarcity and a potential food crisis, according to the United Nations.
Following are countries among the world’s least developed that are the most dependent on Russia and Ukraine for their annual wheat supply (2020), according to the UN Conference on Trade and Development. Nations in Africa import 44% of their wheat from Russia and Ukraine, according to the UN.
In marketing year 2022-23, the world is projected by the US Department of Agriculture (USDA) to produce 779.03 million tonnes of wheat and provide 204.89 million tonnes for export.
These are the eight major wheat importing nations/regions as listed in the monthly USDA World Agricultural Supply and Demand Estimates (WASDE) report and their annual tonnes with production.
Russia’s invasion of Ukraine in February and the persistent La Niña climate phenomenon have combined to create some of the most volatile market conditions in recent memory, sending prices skyrocketing as nations that depend on wheat to feed their populations scramble to secure supplies.
Each month, the WASDE releases new projections to reflect the most recent global market and production conditions, and this slideshow will be updated with those changes.