Konecranes and Linde Material Handling sign agreement in container handling lift truck business
Konecranes to acquire certain assets of the container handling lift truck business of KION Group’s Linde brand Long-term supply agreement between Konecranes and Linde Material Handling. Both Konecranes and Linde Material Handling will continue to offer a full range of container handling lift trucks worldwide Wiesbaden / Helsinki / Aschaffenburg, 18 February 2013 – The KION Group, one of the two leading global manufacturers of industrial lift trucks, and Konecranes, a worldleading group of Lifting Businesses™ today announced that Konecranes has agreed to buy certain assets of the container handling lift truck business of Linde Material Handling, which is wholly owned by KION Group. 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.
“This agreement will significantly improve our worldwide container handling business and give us great possibilities to grow and support our customers even better. It will further on increase operational performance and utilization in our current facilities. It will also enabling new opportunities in our cooperation with 2/3 Linde Material Handling”, said Lars Fredin, Vice President and Head of Business Unit Lift Trucks within Konecranes. “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 Brian Butler, Managing Director of Linde Material Handling’s Heavy Trucks Division. “We will maintain the highest standards in quality, delivery, performance and value – all standards to which our customers are accustomed.” Konecranes Lift Trucks Konecranes Lift Trucks is a part of Konecranes and has a long history of working with leading container ports and terminals that are expert buyers and operators of container lift trucks and reach stackers. Konecranes Lift Trucks has two productions facilities building heavy forklift trucks, Empty and Laden Container Handlers and Reach Stackers; one in Markaryd/Sweden and one in Shanghai/China.
“One of our strategic cornerstones is growth and we are constantly looking for interesting investment possibilities, especially in the emerging markets. The joined collaboration in the container handling business with Linde Heavy Truck Division gives us a substantial possibility to volume expansion and economies of scale which makes us more than ready to go for the future!”, Lars Fredin concludes.
The companies 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).
Linde Material Handling is based in Aschaffenburg and is one of the world's leading manufacturers of trucks and warehouse vehicles. Linde Material Handling GmbH is part of the KION Group, which is the European market leader for industrial trucks and the second largest manufacturer in the world. Linde Material Handling employs approximately 13,800 people worldwide and in recorded annual sales of approx. €2.86 billion.
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.