Wiesbaden, Germany

Thursday, 20 Nov 2008

Kion Group looking to expand into Asia

Global manufacturer Kion is looking to expand its presence in the low-price segments in Asia.

Michael Hauger, head of communications and investor relations for Kion Group, tells Forkliftaction.com News the group is looking at potential partners in Asia and China. "We are evaluating a number of opportunities," he says.

However, he would not elaborate on "future potential strategies".

Forkliftaction.com News contacted Kion yesterday in the wake of informal reports that the group had purchased a 50% share of Chinese forklift manufacturer Baoli. The German company would not confirm the information, which Hauger rejects as "not correct".

Forkliftaction.com News also contacted Gao Zhou-Fei, vice president of Baoli, to confirm reports of the deal on the German www.flurfoerderzeuge.de website. The website reports that Germany's competition authority has been notified of Kion's intentions to take a majority stake in Baoli.

"This information is not confirmed," Gao says.

The Kion Group is a worldwide provider of forklifts, warehouse equipment and other industrial trucks, employing more than 21,000 people. Its three brands, Linde, Still and Om, experienced strong growth last year.

In September, the company noted that Asia and Eastern Europe were its "principal growth drivers".

Kion has had its own production plant in China since 1993, which also manufactures for the entire Asia Pacific region and supplies modules for the assembly lines in Europe.