Storage technology devices
Kion: strategic partnership with Chinese manufacturer EP Equipment
The Kion Group is entering into an exclusive and global strategic partnership with EP Equipment, a leading Chinese manufacturer, in the dynamically growing market for low-cost warehouse technology products.
Kion signed an agreement in Anji, China, to acquire a minority stake in EP Equipment. The collaboration will enable the company to expand its product offering in the entry-level segment of light warehouse trucks in China and other global markets. The partnership aims to jointly develop products and leverage synergies along the supply chain. The transaction is subject to customary closing conditions and regulatory approvals and is expected to be completed in the course of 2018.
"We are very pleased about the strategic partnership with EP Equipment. This will enable us to offer our products to a much wider range of customers," said Gordon Riske, CEO of the Kion Group, at the signing of the agreement. "The cooperation will further strengthen our position in the booming market for warehouse equipment."
"EP Equipment has grown steadily in China and worldwide, especially in the entry-level warehouse equipment segment. The company has been able to build on its clear customer focus as well as its innovative and competitive product range," said Quek Ching Pong, Member of the Executive Board of Kion Group and Chief Asia Pacific Officer. "The partnership with EP Equipment further strengthens Kion Group's position as a leading supplier of electrically powered material handling equipment."
"This is a historic moment for EP Equipment," said He Jinhui, Chairman of EP Equipment. "I look forward to working with the Kion Group to leverage each other's strengths to capitalize on market opportunities in China and around the globe."
He Jinhui founded EP Equipment in 1999. The company employs more than 1,000 people worldwide and has a strong market presence, particularly in China and the USA. In 2017, EP Equipment recorded orders for over 50,000 devices, more than ever before.
The Chinese market is the world's largest and most important market for industrial trucks. In the first nine months of 2017, it grew by around 40 percent. Warehouse trucks have made a significant contribution to this growth, with light warehouse trucks playing a key role in the entry-level segment. This development is being driven by increasing mechanization and the modernization of equipment. kp
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