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.
    • Podcast
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Dispatches
      • Empowering Your Performance Edge
      • 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.
    • Podcast
    • Blogs
      • Analytics & Big Data
      • Best Practices
      • Dispatches
      • Empowering Your Performance Edge
      • 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 » The KION Group enters a new era
Press releases are provided by companies as is and have not been edited or checked for accuracy. Any queries should be directed to the company issuing the release.

Upload your press release

The KION Group enters a new era

November 2, 2016
No Comments

The KION Group enters a new era by successfully completing its acquisition of Dematic

* The KION Group becomes a leading global provider of supply chain solutions, with a unique, comprehensive and cutting-edge solutions portfolio

* Dematic under new management: John Baysore is the new President and CEO

* KION Group CEO Gordon Riske: "The acquisition is the dawn of a new era for the KION Group, Dematic and our customers"

* Dematic President and CEO Baysore: "We are proud that we can provide our customers with even more comprehensive support as part of the KION Group"

* The KION Group will have three segments for management and reporting purposes going forward

Wiesbaden, 1 November 2016 - Starting a new chapter in the global supply chain industry, the KION Group has successfully completed its landmark acquisition of Dematic, a leading specialist for automation and supply chain optimisation. The purchase makes the KION Group one of the world's leading providers of supply chain solutions with a unique and comprehensive portfolio of products ranging from forklift trucks to fully automated material handling solutions. The KION Group is thus ideally positioned to tap into the attractive and profitable growth driven by megatrends such as Industry 4.0, digitalization and e-commerce.

"Today marks the dawn of a new era for the KION Group, Dematic and our customers," said Chief Executive Officer of the KION Group, Gordon Riske. "The transaction brings together the world's most profitable manufacturer of forklift trucks and warehouse technology with one of the largest and fastest-growing warehouse automation and software solutions providers. Our combined global presence, intelligent and tailored material handling as well as comprehensive automation and software technology solutions, plus now more than 30,000 dedicated and highly skilled employees will enable us to deliver even more value for our customers."


Experienced management team for Dematic

The new Dematic operating unit will be led by John Baysore, previously CEO of Dematic North America, who will hold the role of President and Chief Executive Officer and has a proven track record in growing supply chain solutions business. In the newly created role of Executive Vice President International, Jeff Moss will head up Dematic's international business outside North America, which will be a key focus for expansion. The new management team will also include Frank Herzog, previously the KION Group's Head of Corporate Finance, in the role of Executive Vice President Finance and Chief Financial Officer. Business in North America will be the responsibility of Scott Watts, who has been appointed Executive Vice President North America.

"At Dematic, we are proud to move forward as part of the KION Group, which even better positions us to assist our customers with supply chain performance. The newly established solution portfolio affords our customers the ability to accommodate their ever changing business requirements and will dynamically optimize their warehouse and distribution functions," said John Baysore. "The market for system solutions is expected to grow by around 10 percent per year in the medium term. We have the innovative technology, software expertise and global network to meet the supply chain requirements of the future, such as those resulting from the rapidly growing e-commerce sector and the many other vertical markets we serve."
KION CEO Gordon Riske expressed his gratitude to the departing CEO of Dematic, Ulf Henriksson: "We are grateful to Ulf for his hard work helping build Dematic to where it is today, and thank him for leading a smooth closing process over the last several months."

The KION Group will have three segments

As a result of the transaction, the KION Group will start managing its business and reporting financials by three segments in December 2016: Industrial Trucks and Services, Supply Chain Solutions and Corporate Services. The Industrial Trucks and Services segment represents KION's business up to now and consists of four operating units: Linde Material Handling EMEA and STILL EMEA, which each concentrate on Europe, the Middle East and Africa, plus KION APAC and KION Americas, which hold cross-brand responsibility for the Asia-Pacific region and the Americas, respectively. The Supply Chain Solutions segment comprises Dematic, Egemin Automation and Retrotech, while Corporate Services includes headquarter functions and group wide services such as internal logistics and IT.
After the deduction of certain liabilities, the purchase consideration for the shares in Dematic amounts to circa US$ 2.0 billion based on an enterprise value of US$3.25 billion. The acquisition creates a leading player with pro forma revenue of more than €6.7 billion in the 2015 calendar year and a high level of profitability in the form of a combined adjusted EBIT margin of approximately 9.4 percent in the same period.

More Info: http://www.dematic.com/en-us/news-and-downloads/news-and-events/press-releases/2016/2016/11/01/13/20/2016-11-01-kion-dematic-closing/

Submit your logistics, material handling, or supply chain related company news in DC VELOCITY's Industry Press Room section or New Products section
  • Related Articles

    Blume Global Introduces a New Digital Era of Growth, Innovation and Value Creation for the Global Supply Chain Ecosystem

    KION Group to become a global leader in intralogistics solutions by acquiring Dematic

    he Era of "The New Retail" Is Here: Michael Zakkour, VP at Tompkins International Releases New Book

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

Report Abusive Comment

Most Popular Articles

  • Cold chain giant Lineage Logistics buys its own rail operator

  • Outlook 2021: What’s in store for logistics supply chain?

  • Cushman & Wakefield Brokers Sale of 170 Acres plus Lease for 1MSF Build-to-Suit for Home Improvement Retailer in Commerce City, CO.

  • Thriving in the long haul: interview with Colin Yankee

  • Capacity challenges will continue in 2021

Now Playing on DCV-TV

2mw 01 18 21 thumb

LTL Carriers Using Yield Management Techniques to Identify New Accessorial Charges

DCV-TV 4: Viewer Contributed
As we head into 2021, shippers are not too optimistic about negotiating rates with their carriers. The reason for this, as highlighted in the three CODE RED Webcasts we've hosted with our friends from CSCMP and NASSTRAC, is that in today's transportation marketplace, shippers are operating in uncharted waters. With...

FEATURED WHITE PAPERS

  • Proven Benefits: A Compendium of Slotting Optimization Success Snapshots

  • Bridging Information Gaps in Dock and Yard Operations

  • How Intelligent Sensor Solutions Turn Data Into Action

  • Order picking Solutions: Understanding Your Options

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