Konecranes to acquire assets of the container handling truck business of KION Group
The KION Group, one of the two leading global manufacturers of industrial trucks, and Konecranes, a world-leading group of Lifting Businesses™ today announced that Konecranes has agreed to buy certain assets of the container handling truck business of Linde Material Handling, which is wholly owned by KION Group, Konecranes reports. The two groups have also signed a long-term supply agreement and will collaborate to further increase the global competitiveness of their respective container handling truck activities. The value of the assets purchased is not disclosed. The transaction is expected to close during the 2nd quarter of 2013.
Both companies will keep reach stackers, empty container handlers and laden container handlers in their offering but after a period of time all manufacturing will take place in Konecranes factories. The assets acquired by Konecranes from Linde Material Handling include the respective product rights. In addition, Konecranes will get access to Linde Material Handling’s distribution network. The collaboration improves economies of scale in R&D and manufacturing while enabling both companies to continue to offer container handling trucks to their distribution channels.
“We are happy to work together with Konecranes. This global collaboration with one of the leaders in this segment will significantly improve our container handling offerings to the customers of the Linde brand,” said Theodor Maurer, member of the Executive Board of KION Group and CEO of Linde Material Handling. “We will maintain the highest standards in quality, delivery, performance and value – all standards to which our customers are accustomed.”
“Our lift truck business has been a strong performer within Konecranes Group. The acquisition of certain assets of Linde Material Handling’s container handling business opens wider distribution network for the combined reach stacker and empty container handler offering. We look forward to working with Linde and their distributors; together we are stronger in the market”, said Hannu Rusanen, member of the Group Executive Board of Konecranes and Head of Business Area Equipment.
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 22,000 people and generated revenue between Euro 4.65 and 4.75 billion in 2012 according to first estimates based on initial management reporting.
Konecranes is a world-leading group of Lifting Businesses™, 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 609 locations in 47 countries. Konecranes is listed on the NASDAQ OMX Helsinki (symbol: KCR1V).