(The following press release from Kion was received by e-mail. It was not
confirmed by the sender.)
KION Group and Konecranes collaborate in the container handling truck business
Konecranes to acquire certain assets of the container handling 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 trucks worldwide
Wiesbaden / Helsinki / Aschaffenburg, 18 February 2013 - The KION Group, one of
the two leading global manufacturers of industrial trucks, and Konecranes, a
world-leading group of Lifting Businesses(TM) 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. 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(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 609 locations in 47 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
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) 611 770 655
VP, Marketing and Communications
Tel.: + 358 20 427 2008
Director, Investor Relations
Tel.: + 358 20 427 2050
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