Regulatory Filings • Aug 28, 2014
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Corporate | 28 August 2014 08:51
KION Group expands its profile in India (news with additional features)
KION GROUP AG / Key word(s): Miscellaneous
28.08.2014 / 08:51
Wiesbaden/Pune, 28 August 2014 – The KION Group is expanding its corporate profile in the key growth market of India: Voltas Material Handling, one of the country’s leading suppliers of forklift trucks and warehouse technology, will henceforth be operating under the name KION India. This marks a further step forward in the integration of Voltas Material Handling into the KION Group, which took over the company around one and a half years ago.
KION India will continue to sell both electric and IC forklift trucks as well as warehouse technology products under the established Voltas and Baoli brands in India. The city of Pune will remain the site of the company headquarters and of the Voltas plant.
“The name change symbolizes being part of the international KION family,” says Group CEO, Gordon Riske. “One of the fast-growing BRIC states, India plays a key role in our plans for growth and in the implementation of our KION Group Strategy 2020. We will continue to expand KION India in the coming years, fully exploiting the potential of this still relatively small market.”
Chief Asia Pacific Officer and KION Executive Board member Ching Pong Quek stressed: “India is one of the fastest growing economies anywhere in the world and holds enormous potential, particularly in the manufacturing sector. We are confident that we will be able to market ourselves even more effectively under the new name and that it reflects our plans for future growth and innovation.”
Voltas Material Handling Private Limited was launched in 2011 as a joint venture between the KION Group and Voltas Ltd. In November 2012 the KION Group – one of the world’s two leading suppliers of forklift trucks, warehouse technology and associated products – became the sole owner of the Indian manufacturer. KION India has a sales and service network comprising more than 40 branches and dealers with 60 touch points.
The Company
The KION Group – comprising the six brands of Linde, STILL, Fenwick, OM STILL, Baoli and Voltas – is the largest manufacturer of industrial trucks in western and eastern Europe, 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 a leading provider of industrial trucks in India. The KION Group is present in more than 100 countries and, in 2013, employed over 22,000 people and generated revenue of EUR4.5 billion.
Disclaimer
This document and the information contained herein are for information purposes only and do not constitute a prospectus or an offer to sell or a solicitation of an offer to buy any securities in the United States or in any other jurisdiction.
This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of technical studies, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. We do not undertake any responsibility to update the forward-looking statements in this release.
Further information for the media
Michael Hauger
Head of Corporate Communications
Tel.: +49 (0)611 770 655
Frank Brandmaier
Head of Corporate Media Relations
Tel.: +49 (0)611 770 752
Further information for investors
Frank Herzog
Head of Corporate Finance
Tel.: +49 (0)611 770 303
Dr Karoline Jung-Senssfelder
Head of Investor Relations and M&A
Tel.: +49 (0)611 770 450
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Additional features:
Document: http://n.equitystory.com/c/fncls.ssp?u=WFSPLYSRUS
Document title: Download Press Release as PDF
28.08.2014 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
| Language: | English |
| Company: | KION GROUP AG |
| Abraham-Lincoln-Str. 21 | |
| 65189 Wiesbaden | |
| Germany | |
| Phone: | +49 (0)611 770-0 |
| Fax: | +49 (0)611 770-690 |
| E-mail: | [email protected] |
| Internet: | www.kiongroup.com |
| ISIN: | DE000KGX8881 |
| WKN: | KGX888 |
| Indices: | SDAX |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart |
| End of News | DGAP News-Service |
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| 284315 28.08.2014 |
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