We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • ::COVID-19 COVERAGE::
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Subscriptions
    • Podcast
    • Webcasts
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Change Me
      • Empowering Your Performance Edge
      • The Logistics of Defense
      • Logistics Problem Solving
      • One-Off Sound Off
      • Public Sector Logistics
      • Two Sides of the Logistics Coin
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2020
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Subscriptions
    • Podcast
    • Webcasts
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Change Me
      • Empowering Your Performance Edge
      • The Logistics of Defense
      • Logistics Problem Solving
      • One-Off Sound Off
      • Public Sector Logistics
      • Two Sides of the Logistics Coin
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • MODEX 2020
    • Upload Your Video
Home » Kion AG takes minority stake in Chinese truck maker EP Equipment
newsworthy

Kion AG takes minority stake in Chinese truck maker EP Equipment

January 19, 2018
DC Velocity Staff
No Comments

German material-handling supplier KION Group AG said yesterday it will acquire a minority ownership stake in Chinese manufacturer EP Equipment Co. Ltd. as part of Kion's strategy to expand its presence, in China and worldwide, in the light-duty or "entry level" warehouse equipment segment.

The Chinese industrial truck market expanded by 40 percent in the first nine months of 2017, according to Kion. Warehouse trucks were a major factor in this growth, with the entry-level version playing a particularly important role, driven by increased demand for greater mechanization and equipment upgrades, Kion said.

In a 2016 survey, the Industrial Truck Association (ITA) ranked China third among global markets with the greatest potential for lift truck growth over the next three years, behind India and Mexico. In 2015, China ranked seventh.

The EP partnership will "allow us to extend our product offering to a much wider range of customers," said KION Group CEO Gordon Riske at a ceremony marking the signing of the agreement.

Kion is no stranger to China. In 1993 it became one of the first German companies to make direct investments in China when the Linde Group, whose material handling business was re-branded in 2006 as Kion Group, established production, sales and service, and research and development activities in Xiamen. In 2009, Kion acquired Baoli Forklift Co. to penetrate the Chinese economy lift truck segment. The "economy market" includes lift trucks that are more basic workhorse types, with a limited number of features and technology, and priced well below premium or mid-level equipment. They are often referred to as utility, standard, or value trucks. Much of the growth in that "value priced" market seems to be overseas.

Kion currently has about 4,000 employees in China, and touts itself as the largest non-Chinese company in the lift truck market.

EP Equipment was founded in 1999 by He Jinhui, who remains its chairman. The company employs more than 1,000 people around the world and is prominent in the Chinese and U.S. markets. In 2017, EP Equipment shipped more than 50,000 units, a record for the company.

Terms of the transaction, which is expected to close during the year, were not disclosed.

Material Handling Internal Movement Lift Trucks, Personnel & Burden Carriers
KEYWORDS Baoli Forklift EP Equipment KION Group The LInde Group
  • Related Articles

    Chinese lift-truck maker to make aggressive play for U.S. market

    Kion invests in automated lift trucks through deal with Chinese robotics startup

    Private equity firm buys minority stake in Uber Freight for $500 million

Recent Articles by DC Velocity Staff

Logistics gives back: April 2021

Watch that digital reef

Pandemic is just one threat to safety

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • A look into the future of robotics

  • A primer on warehouse robots

  • Roadrunner Freight bolsters LTL capabilities with $50 million in new backing

  • Southeastern Freight Lines Promotes Marty Cox to Service Center Manager in Cincinnati, Ohio

  • Pull back or go deeper—how the pandemic influenced shipper-3PL engagement

Now Playing on DCV-TV

9cddf77b a6f2 40d3 b603 004e451106fb

Dealing with Rapidly Rising Freight Costs

DCV-TV 4: Viewer Contributed
I don’t know if it’s because of our Two Minute Warnings, or the fact that shippers are experiencing the conditions we warned about in our Code Red webcasts, but lately, I’ve heard the same message from several C-Level and supply chain executives: Their companies are experiencing supply chain challenges and their...

FEATURED WHITE PAPERS

  • Special Report: Supply Chain Trends in Retail & Consumer Goods

  • Fortify Your Operational Resilience

  • Cold Storage Automation: Leveraging Advanced Technologies to Meet Increasing Demand

  • The modern warehouse: Maximizing productivity and capacity

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2021. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing