KION Group takes full management control in KION Baoli
(Thomson Reuters ONE) -
KION GROUP GmbH / KION Group takes full management control in KION Baoli processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
§ KION Group further strengthens its position in China
§ KION Baoli to be fully integrated into the global operations of KION
Group
Wiesbaden (Germany) / Jingjiang (China), May 27, 2010 - The KION Group GmbH has
taken full management control in the joint venture company KION Baoli (Jiangsu)
Forklift Co., Ltd. ("KION Baoli"), which was established in January 2009 with
Jiangsu Shangqi Group Co., Ltd (formerly Jiangsu Baoli Group Co., Ltd.) and
Jingjiang Baoli Forklift Co. Ltd.. KION Baoli will be fully integrated into the
global operations of KION Group with immediate effect.
Gordon Riske, CEO of KION Group, said: "With the additional investment in KION
Baoli we further strengthen our position as the number one international
supplier of material handling equipment in China, one of the fastest growing
markets for our industry. In addition KION Baoli with its highly competitive
product portfolio is an important pillar of our strategy to expand our
activities in the emerging markets."
As the KION Group's fourth brand, Baoli is positioned in the economy segment
worldwide. The product range of KION Baoli includes diesel/LPG, electric trucks
and warehouse trucks with load capacities of 1 to 10 tonnes. KION Baoli has a
comprehensive sales and service network, with presence in all provinces across
China and 80 countries globally, and employs around 500 people, to provide
competitive products and services to domestic and overseas customers.
Chingpong Quek, Chairman and General Manager of KION Baoli, stated that "With
the market recovery, especially in China, we have decided to further invest into
KION Baoli. We have a comprehensive integration plan focusing in the areas of
sales, service, product development, and production system to meet the
expectations of our customers. We are confident in the future of KION Baoli."
The KION Group has had a wholly-owned subsidiary, Linde (China) Forklift Truck
Corp. Ltd. in Xiamen, since 1993. With more than 1,700 people in 80 locations
all around China, Linde (China) is the Asian R&D, production, sales and
servicing base of Linde Material Handling. The Linde brand in China operates
mainly in the higher-end forklift truck segment but has also developed vehicles
especially for the Chinese market.
The Company
The KION Group, with its Linde, STILL, OM and Baoli brands, is Europe's market
leader in industrial trucks, the global number two in the industry and the
leading international supplier in China.
Further information available from
Michael Hauger
Head of Communications and Investor Relations, KION Group
Tel.: +49 (0)611 770 655
Email: michael.hauger(at)kiongroup.com
Frank Kopfinger
Head of Investor Relations, KION Group
Tel.: +49 (0)611 770 220
Email: frank.kopfinger(at)kiongroup.com
Tee Seng Chuan
Director of Strategic Marketing, KION Asia
Tel.: +86 (0)592 5533 239
Email: sc.tee(at)linde-china.com
[HUG#1419266]
--- End of Message ---
KION GROUP GmbH
Abraham-Lincoln-Strasse 21 Wiesbaden Germany
KION takes full control in KION Baoli: http://hugin.info/137240/R/1419266/369344.pdf
Unternehmensinformation / Kurzprofil:
Datum: 27.05.2010 - 12:35 Uhr
Sprache: Deutsch
News-ID 21565
Anzahl Zeichen: 0
contact information:
Town:
Wiesbaden
Kategorie:
Business News
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