KION Group

Last updated
Kion Group AG
Company type Aktiengesellschaft
FWB:  KGX
ISIN DE000KGX8881  OOjs UI icon edit-ltr-progressive.svg
Founded2006;18 years ago (2006)
Headquarters
Frankfurt
,
Germany
Area served
Worldwide
Key people
Productsintralogistics, industrial trucks and warehouse solutions[ buzzword ]
Revenue €7,995 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]
Website kiongroup.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 automation equipment, and industrial (forklift) trucks. KION Group was founded in 2006 by the demerger of Linde's materials handling equipment operations. It is the world's second-largest manufacturer of forklifts measured by revenues (after Toyota Industries). [2]

Contents

Corporate headquarters in Frankfurt am Main Kion HQ, Frankfurt am Main (IMG 20220701 150659 1).jpg
Corporate headquarters in Frankfurt am Main

Name

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

History

On 6 September 2006 Linde AG announced a new structure following the completion of its acquisition of BOC, 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 KKR 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. [11] And 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]

In 2018, KION Group AG expanded its presence in China and agreed a strategic partnership with EP Equipment Co. Ltd in the light-duty or "entry-level" warehouse equipment segmente. KION has acquired a minority stake in the Chinese truck manufacturer, which in the previous year, 2017, achieved record shipments of 50,000 units. [13]

In 2023, the company will have sales of €11.4 billion (up 2.67% from 2022), operating income of €791 million (up 170.9% from 2022) and net income of €306 million (up 188.7% from 2022). [14]

Brands

KION Group sells its products under the following brand names:

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References

  1. 1 2 3 4 5 6 "KION Group Annual Report 2087" (PDF). Retrieved 15 March 2019.
  2. ↑ "Toyota Motor Affiliate to Buy Cascade for $759 Million". Bloomberg News. 23 October 2012. Retrieved 23 February 2013.
  3. ↑ "Company Profile of the KION Group". KION Group. Retrieved 23 February 2013.
  4. 1 2 "Kion takes control of Chinese joint venture". Logistics Manager. 27 May 2010. Archived from the original on 11 April 2013. Retrieved 23 February 2013.
  5. ↑ "Voltas, KION of Germany to form venture". The Hindu . 20 March 2011. Archived from the original on 26 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. Archived from the original on 11 April 2013. Retrieved 23 February 2013.
  8. ↑ "Shandong Heavy Invests in Germany". 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". 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 to buy U.S. firm Dematic in $3.25 billion deal". Reuters. 2016-06-21. Retrieved 2023-10-13.
  12. ↑ "BMZ Holding and KION Group to launch joint venture for lithium-ion batteries" (PDF) (Press Release). Frankfurt. 11 July 2019. Archived (PDF) from the original on 27 November 2021.
  13. ↑ "Kion AG takes minority stake in Chinese truck maker EP Equipment". DCVelocity. Archived from the original on 2023-11-29. Retrieved 2024-03-26.
  14. ↑ "KION GROUP AG". Marketscreener. Archived from the original on 2024-03-25. Retrieved 2024-03-26.
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