Konecranes and KION Group successfully close transaction to collaborate in the container handling lift truck business
KION GROUP GmbH /
Konecranes and KION Group successfully close transaction to collaborate in the
container handling lift truck business
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* Konecranes becomes long-term supplier of container handling lift trucks to
the worldwide distribution network of KION Group's Linde Material Handling
* Konecranes acquires selected product rights for Linde's container handling
lift trucks and production will be transferred to Konecranes factories
* Konecranes will also manage container handling spare parts and after sales
support in the future
* The transaction enhances both companies' offerings of a full range of
container handling lift trucks
Wiesbaden / HyvinkÃ¤Ã¤ / Aschaffenburg / Markaryd, 3 May 2013 - Konecranes, a
world-leading group of Lifting Businesses (TM) and the KION Group, one of the
two leading global manufacturers of industrial trucks, today successfully closed
the transaction announced on 18 February 2013 to collaborate in the container
handling lift truck business.
Based on the collaboration agreement, Konecranes with immediate effect becomes
long-term supplier of container handling lift trucks to the worldwide
distribution network of Linde Material Handling, which is wholly owned by KION
Group. Both companies will continue to offer a full range of container handling
lift trucks, including reach stackers, empty container handlers and laden
In addition, Konecranes acquires certain assets including the product rights for
container handling lift trucks from Linde Material Handling, for which the value
is not disclosed. Initially, Linde Material Handling will continue to produce
container handling lift trucks. Konecranes will use these product rights to
further enhance the product range and will ultimately produce all container
handling lift trucks at their factories.
Product support and spare parts orders will be transitioned over the next
months. Once the transition is completed, distributors and customers will be
notified accordingly. The objective of this transition period is to ensure that
a high level of customer support is maintained.
The transaction will increase the global competitiveness of both group's
container handling lift truck activities and will improve economies of scale in
R&D and manufacturing.
Theodor Maurer, member of the Executive Board of KION Group and CEO of Linde
Material Handling said: "The closing of this strategic collaboration with
Konecranes, as a leading player in the container handling lift truck business,
is an important milestone in our strategy to continuously improve our product
offerings to the customers of the Linde brand."
Lars Fredin, Vice President and Head of Business Unit Lift trucks at Konecranes,
said: "We are very excited about the opportunities we now see. We expect to grow
substantially both in equipment sales and spare part sales to our partners. This
transition will prove to be very positive for our own distribution and for Linde
distributors. With this acquisition we are now positioning ourselves as one of
the biggest suppliers in our industry which fits very well into our long term
The acquired assets will be consolidated into Konecranes' financial reporting
during the second quarter 2013.
The KION Group - comprising the six brands Linde, STILL, Fenwick, OM STILL,
Baoli and Voltas - is Europe's market leader in industrial trucks, the global
number two in the industry and the leading non-domestic supplier in China. The
Linde and STILL brands serve the premium segment worldwide. Fenwick is the
largest supplier of material handling products in France, while OM STILL is a
market leader in Italy. The Baoli brand focuses on the economy segment, and
Voltas is one of the two market leaders in India. The KION Group employed more
than 21,000 people and generated revenue of Euro 4.73 billion in 2012.
Konecranes is a world-leading group of Lifting Businesses (TM), serving a broad
range of customers, including manufacturing and process industries, shipyards,
ports and terminals. Konecranes provides productivity-enhancing lifting
solutions as well as services for lifting equipment and machine tools of all
makes. In 2012, Group sales totaled EUR 2,170 million. The Group has 12,100
employees at 626 locations in 48 countries. Konecranes is listed on the NASDAQ
OMX Helsinki (symbol: KCR1V).
This press release contains forward-looking statements involving known and
unknown risks, uncertainties and other factors, many of which are outside the
control of the KION Group ('KION'), and Konecranes are difficult to predict and
may cause future developments to differ significantly from assumed developments
as expressed or implied in the forward-looking statements in this press release.
Any liability (including in respect of direct, indirect or consequential loss or
damage) of any member of KION and Konecranes with regard to the information
contained in this press release is expressly disclaimed. This press release does
not purport to contain all of the information that may be required to evaluate
any proposed transaction, and any recipient hereof should seek its own legal,
accounting and other relevant professional advice.
No member of KION and Konecranes undertakes any obligation or expects to update
or revise this press release, including forward-looking statements or any other
information contained herein, whether as a result of new information, future
events or otherwise.
For further information please contact
Head of Corporate Communications
KION Group GmbH
Tel: +49 (0)611 770Â 655
Vice President BU Lifttrucks, Konecranes
Konecranes Lifttrucks AB
Tel: +46 76Â 770 71 00
Director, Investor Relations
Tel: + 358 20 427 2050
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Source: KION GROUP GmbH via Thomson Reuters ONE