Konecranes to Collaborate with KION Group
Konecranes to buy certain assets of the container handling truck business of KION Group-owned Linde Material Handling.
• Konecranes (KNCRF) to acquire certain assets of the container handling truck business of KION Group’s Linde brand
• Long-term supply agreement between Konecranes and Linde Material Handling
• Both Konecranes and Linde Material Handling will continue to offer a full range of container handling trucks worldwide
The KION Group, a manufacturers of industrial trucks, and Konecranes, a group of Lifting Businesses™ have announced that Konecranes has agreed to buy certain assets of the container handling truck business of Linde Material Handling, which is wholly owned by KION Group. The two groups have also signed a long-term supply agreement and will collaborate to further increase the global competitiveness of their respective container handling truck activities. The value of the assets purchased is not disclosed. The transaction is expected to close during the 2nd quarter of 2013.
Both companies will keep reach stackers, empty container handlers and laden container handlers in their offering but after a period of time all manufacturing will take place in Konecranes factories. The assets acquired by Konecranes from Linde Material Handling include the respective product rights. In addition, Konecranes will get access to Linde Material Handling’s distribution network. The collaboration improves economies of scale in R&D and manufacturing while enabling both companies to continue to offer container handling trucks to their distribution channels.
“We are happy to work together with Konecranes. This global collaboration with one of the leaders in this segment will significantly improve our container handling offerings to the customers of the Linde brand,” said Theodor Maurer, member of the Executive Board of KION Group and CEO of Linde Material Handling. “We will maintain the highest standards in quality, delivery, performance and value – all standards to which our customers are accustomed.”