DGAP-News: KION GROUP AG: KION Group establishes new industrial truck facility in India
DGAP-News: KION GROUP AG / Key word(s): Miscellaneous
KION GROUP AG: KION Group establishes new industrial truck facility in India (news with additional features)
20.03.2019 / 09:34
The issuer is solely responsible for the content of this announcement.
KION Group establishes new industrial truck facility in India
- KION India consolidates strong position in important growth market
- Capital expenditure of around EUR15 million planned for expansion of Pune site
- More than 100 new jobs to be created
- Cutting-edge R&D center to be build
Frankfurt/Main, March 20, 2019 - KION GROUP AG continues to focus on growth and is expanding its Indian production site in Pune in the state of Maharashtra with the construction of a new industrial truck production facility. Capital expenditure on this pioneering project will amount to approximately EUR15 million. KION, a global leader in logistics, is creating more than 100 additional jobs in Pune. The new plant, which covers around 94,000 square meters, is due to be launched in early 2020. It will incorporate a cutting-edge production facility, a research and development center, a training center for service personnel and space for future growth of Dematic in India. Dematic is the most recent member of the KION Group and a global leader in intelligent supply chain, software and automation solutions. The company aims to leverage the strong market position and customer base of the KION brands, especially in warehousing and logistics.
Over the last five years, the Indian industrial truck market has grown five-fold and currently counts around 16,500 trucks per year. And there is still room for further expansion: a comparison of global new truck orders indicates considerable long-term growth potential in the market. Recent figures show that only 13 new trucks were ordered in India per one million individuals, while in China it was 313 and in Western Europe 866. The KION Group is aiming to leverage growth in the Indian intralogistics sector, particularly through its OM and OM Voltas brands. "We want to harness the potential of this fast-growing market even more effectively with our new plant while further strengthening our leading position by increasing capacity in Pune," said CP Quek, Chief Asia Pacific Officer and member of the Executive Board of KION GROUP AG, during the plant's official groundbreaking ceremony.
"The new leading-edge plant and R&D center will allow us to better serve our customers in the rapidly expanding Indian market," noted Eike Böhm, Chief Technology Officer and member of the Executive Board of KION GROUP AG.
"We want to be even more efficient in production and after sales. Our current workforce and the anticipated 100 new employees will benefit from the latest work environment while the new R&D center and the market launch of Dematic will open up further opportunities," said Sunil Gupta, President of KION India.
KION in India
The KION Group has had a presence in India, an important growth market, since 2011. KION India has been the country's leading industrial truck and warehouse technology vendor since 2016 through sales of the well-known Italian brand, OM, and its Indian-Italian brand, OM Voltas. In addition to the OM and OM Voltas products, KION India also sells industrial trucks, warehouse technology and services from Baoli in China and the German premium brand, Linde, allowing the Group to serve the premium, value and economy segments. KION has recently begun launching new automated supply chain solutions from Dematic on the Indian market.
The company has a production facility in Pune in western India as well as a countrywide sales and service network consisting of over 40 branches and dealerships with over 100 sales outlets. KION India currently employs around 400 employees.
The KION Group is a global leader in industrial trucks, related services and supply chain solutions. Across more than 100 countries worldwide, the KION Group designs, builds and supports logistics solutions that optimize material and information flow within factories, warehouses and distribution centers. The Group is the largest manufacturer of industrial trucks in Europe, the second-largest producer of forklifts globally and a leading provider of automation technology.
The KION Group's world-renowned brands are clear industry leaders. Dematic, the newest addition to the KION Group, is a global leader in automated material handling, providing a comprehensive range of intelligent supply chain and automation solutions. The Linde and STILL brands serve the premium industrial truck segment. Baoli focuses on industrial trucks in the economy segment. Among KION's regional industrial truck brand companies, Fenwick is the largest supplier of material handling products in France and OM Voltas is a leading provider of industrial trucks in India.
With an installed base of more than 1.4 million industrial trucks and over 6,000 installed systems, the KION Group's customer base includes companies in all industries and of all sizes on six continents. The Group has more than 33,000 employees and generated revenue of EUR8 billion in 2018.
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
Senior Vice President Corporate Communications
Tel: +49 (0)69 201 107 655
Cell: +49 (0)151 1686 5550
Senior Director External Communications & Group Newsroom
Telefon +49 (0)69.2 01 10-74 96
Mobil +49 (0)151 65 26 29 16
Further information for investors
Dr. Karoline Jung-Senssfelder
Senior Vice President, Corporate Strategy and Investor Relations
Tel: +49 (0)69 201 107 450
Document title: KION_Factory India_EN_pdf
20.03.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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