KION Group
 |
|
| Aktiengesellschaft | |
| Traded as | : KGX |
| Founded | 2006 |
| Headquarters | Wiesbaden, Germany |
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Area served
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Worldwide |
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Key people
|
Gordon Riske (Chief Executive Officer) |
| Products | Forklifts, warehouse equipment and industrial trucks |
| Revenue | €5,587 million (2016) |
| €434.8 million (2016) | |
| €246.1 million (2016) | |
| Total assets | €11,359 million (2016) |
| Total equity | €2,535 million (2016) |
| Owner | Consortium of Kohlberg Kravis Roberts and Goldman Sachs Capital Partners (75%) Weichai Power (25%) |
|
Number of employees
|
30,544 (full-time equivalents at 31 December 2016) |
| Website | www.kiongroup.com |
Kion Group AG (styled as KION Group) is a German multinational manufacturer of materials handling equipment, with its headquarters in Wiesbaden, Hesse, Germany. Its principal products are forklift trucks, warehouse equipment and industrial trucks. KION Group was founded in 2006 by the demerger of The Linde Group's materials handling equipment operations. It is the world's second-largest manufacturer of forklifts measured by revenues (after Toyota Industries).
"Kion" is an invented name derived from the Maasai word "Kiongozi", which means "take leadership".
On 6 September 2006 Linde AG announced a new structure following the completion of its acquisition of The BOC Group, with the gas and engineering businesses of the combined entity operating as The Linde Group and the materials handling businesses (Linde Material Handling, STILL, and OM Carrelli Elevatori S.p.A.) operating as KION Group. Linde AG sold KION Group to a partnership of Kohlberg Kravis Roberts and Goldman Sachs Capital Partners for approximately €4 billion.
In January 2009 KION Group formed a China-based forklift manufacturing joint venture, Kion Baoli (Jiangsu) Forklift, with Jiangsu Shangqi Group and Jingjiang Baoli Forklift. In May 2010 KION Group acquired full management control of Kion Baoli.
In March 2011, KION Group and the Indian engineering company Voltas agreed to form a new joint venture, Voltas Materials Handling, comprising the two companies' material handling equipment operations in India. KION Group acquired Voltas' 34% shareholding in the venture in November 2012.
In August 2012, the China-based Shandong Heavy Industry's Weichai Power subsidiary agreed to acquire a 25% stake in KION Group for €467 million, and a 70% majority stake in Kion's hydraulics business for €271 million.
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