DGAP-News: KION Group takes full management control in KION Baoli

2010-05-27 / 12:34:00

KION Group takes full management control in KION Baoli

  • KION Group further strengthens its position in China
  • KION Baoli to be fully integrated into the global operations of KION Group

Wiesbaden (Germany) / Jingjiang (China), May 27, 2010 - The KION Group GmbH has taken full management control in the joint venture company KION Baoli (Jiangsu) Forklift Co., Ltd. ('KION Baoli'), which was established in January 2009 with Jiangsu Shangqi Group Co., Ltd (formerly Jiangsu Baoli Group Co., Ltd.) and Jingjiang Baoli Forklift Co. Ltd.. KION Baoli will be fully integrated into the global operations of KION Group with immediate effect.

Gordon Riske, CEO of KION Group, said: 'With the additional investment in KION Baoli we further strengthen our position as the number one international supplier of material handling equipment in China, one of the fastest growing markets for our industry. In addition KION Baoli with its highly competitive product portfolio is an important pillar of our strategy to expand our activities in the emerging markets.'

As the KION Group's fourth brand, Baoli is positioned in the economy segment worldwide. The product range of KION Baoli includes diesel/LPG, electric trucks and warehouse trucks with load capacities of 1 to 10 tonnes. KION Baoli has a comprehensive sales and service network, with presence in all provinces across China and 80 countries globally, and employs around 500 people, to provide competitive products and services to domestic and overseas customers.

Chingpong Quek, Chairman and General Manager of KION Baoli, stated that 'With the market recovery, especially in China, we have decided to further invest into KION Baoli. We have a comprehensive integration plan focusing in the areas of sales, service, product development, and production system to meet the expectations of our customers. We are confident in the future of KION Baoli.'

The KION Group has had a wholly-owned subsidiary, Linde (China) Forklift Truck Corp. Ltd. in Xiamen, since 1993. With more than 1,700 people in 80 locations all around China, Linde (China) is the Asian R&D, production, sales and servicing base of Linde Material Handling. The Linde brand in China operates mainly in the higher-end forklift truck segment but has also developed vehicles especially for the Chinese market.

The Company
The KION Group, with its Linde, STILL, OM and Baoli brands, is Europe's market leader in industrial trucks, the global number two in the industry and the leading international supplier in China.

Further information available from
Michael Hauger
Head of Communications and Investor Relations, KION Group
Tel.: +49 (0)611 770 655
Email: michael.hauger@kiongroup.com

Frank Kopfinger
Head of Investor Relations, KION Group
Tel.: +49 (0)611 770 220
Email: frank.kopfinger@kiongroup.com

Tee Seng Chuan
Director of Strategic Marketing, KION Asia
Tel.: +86 (0)592 5533 239
Email: sc.tee@linde-china.com


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