KION Group

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Kion Group AG
Aktiengesellschaft
Traded asFWBKGX
ISINDE000KGX8881 Edit this on Wikidata
Founded2006 (2006)
Headquarters,
Area served
Worldwide
Key people
Gordon Riske (Chief Executive Officer)
Productsintralogistics, industrial trucks and warehouse solutions[buzzword]
Revenue7,995 million (2018)[1]
€642.8 million (2018)[1]
€41.6 million (2018)[1]
Total assets€12,969 million (2018)[1]
Total equity€3,305 million (2018)[1]
Number of employees
33,128 (full-time equivalents at 31 December 2018)[1]
Websitekiongroup.com

Kion Group AG (styled as KION Group) is a German multinational manufacturer of materials handling equipment, with its headquarters in Frankfurt, Hesse, Germany. Its principal products are intralogistics, warehouse solutions[buzzword] and industrial (forklift) trucks. KION Group was founded in 2006 by the demerger of The Linde Group's materials handling equipment operations. It is the world's second-largest manufacturer of forklifts measured by revenues (after Toyota Industries).[2]

Name[edit]

"Kion" is an invented name derived from the Swahili word "Kiongozi", which means "leader".[3]

History[edit]

On 6 September 2006 Linde AG announced a new structure following the completion of its acquisition of The BOC Group, with the gas and engineering businesses of the combined entity operating as The Linde Group and the materials handling businesses (Linde Material Handling, STILL, and OM Carrelli Elevatori S.p.A.) operating as KION Group. Linde AG sold KION Group to a partnership of Kohlberg Kravis Roberts and Goldman Sachs Capital Partners for approximately €4 billion.

In January 2009 KION Group formed a China-based forklift manufacturing joint venture, Kion Baoli (Jiangsu) Forklift, with Jiangsu Shangqi Group and Jingjiang Baoli Forklift.[4] In May 2010 KION Group acquired full management control of Kion Baoli.[4]

In March 2011, KION Group and the Indian engineering company Voltas agreed to form a new joint venture, Voltas Materials Handling, comprising the two companies' material handling equipment operations in India.[5][6] KION Group acquired Voltas' 34% shareholding in the venture in November 2012.[7]

In August 2012, the China-based Shandong Heavy Industry's Weichai Power subsidiary agreed to acquire a 25% stake in KION Group for €467 million, and a 70% majority stake in Kion's hydraulics business for €271 million.[8][9]

In February 2013 KION Group agreed to sell the product rights to the Linde brand's reach stacker, empty container handler and laden container handler product lines to the Finnish crane manufacturer Konecranes for an undisclosed sum.[10]

In June 2016 KION Group acquired Dematic to make them the global leader in advanced material handling solutions.[buzzword][11]

In July 2019, an announcement by KION Group and BMZ Holdings mentioned they will host a 50/50 joint venture that will manufacture lithium-ion batteries (64V, 48V) for the KION Group's trucks at the BMZ HQ manufacturing facility.[12]

Brands[edit]

KION Group sells its products under the following brand names:

References[edit]

  1. ^ a b c d e f "KION Group Annual Report 2087" (PDF). Retrieved 15 March 2019.
  2. ^ "Toyota Motor Affiliate to Buy Cascade for $759 Million". Bloomberg. 23 October 2012. Retrieved 23 February 2013.
  3. ^ "Company Profile of the KION Group". KION Group. Retrieved 23 February 2013.
  4. ^ a b "Kion takes control of Chinese joint venture". Logistics Manager. 27 May 2010. Retrieved 23 February 2013.
  5. ^ "Voltas, KION of Germany to form venture". The Hindu. 20 March 2011. Retrieved 23 February 2013.
  6. ^ "Voltas joins hands with KION to make forklift trucks". The Hindu Businessline. 21 March 2011. Retrieved 23 February 2013.
  7. ^ "KION Group acquires the Indian truck manufacturer Voltas Material Handling Pvt. Ltd. in its entirety". Reuters. 2 November 2012. Retrieved 23 February 2013.
  8. ^ "Shandong Heavy Invests in Germany". The Wall Street Journal. 31 August 2012. Retrieved 3 February 2013.
  9. ^ "China's Shandong Heavy Industry Group signs US$928 mil. deal to buy stake in Kion Group". The China Post. 4 September 2012. Retrieved 3 February 2013.
  10. ^ "Konecranes buys container handling assets from KION Group". Reuters. 18 February 2013. Retrieved 3 February 2013.
  11. ^ "KION Group to become a global leader in intralogistics solutions by acquiring Dematic". 21 June 2016.
  12. ^ https://bmz-group.com/images/Pressemitteilung_JV_KION_Battery_Systems_en.pdf