- May 07, 2015
KION will purchase the Handling Automation division for an enterprise value of approximately ‚Ç¨ 72 million.
May 7, 2015 - The KION Group has signed an agreement with the Belgian automation specialist Egemin Group to purchase its Handling Automation division for an enterprise value of approximately € 72 million. The transaction is subject to a number of customary conditions and is expected to be closed in the course of the third quarter of 2015.
The KION Group is one of the world's two largest suppliers of forklift trucks, warehouse technology and associated services and increases with this acquisition the number of brands in its portfolio to seven. The Wiesbaden-based company is thus significantly expanding its expertise and capabilities in system solutions for intralogistics and automation, fields that are seeing increasingly strong demand.
Egemin’s Handling Automation division offers customized solutions for the automation of logistics in warehouses, distribution centres and factories. It delivers automated warehouse systems, automated guided vehicles and in-floor chain conveyors solutions. In fiscal year 2014, the Handling Automation division of the Egemin Group generated approximately € 76 million of revenues with over 300 highly specialised employees. The Egemin Group’s other divisions (Process Automation, Life Sciences, Infra Automation and Consulting & Services) are not part of this transaction and will continue their activities under a new brand name, shortly to be disclosed. This company remains a subsidiary of Ackermans & van Haaren, listed on Euronext Brussels.
"By acquiring Egemin’s handling automation activities, the KION Group is strengthening its expertise and capabilities in the design and management of complex logistics automation projects for the future. Automated material handling solutions will play a crucial role in Industry 4.0 as they facilitate the vision of the smart warehouse and factory," said Gordon Riske, CEO of the KION Group, when the agreement was signed. "The fast-growing market for automated logistics and material flow systems is another area where we want to become a leading player. Together, Egemin Automation and the KION Group have vast potential for innovation that will enable us to provide the best possible solutions for our customers." The acquisition marks another milestone in the KION Group's implementation of its Strategy 2020. For Egemin Automation, the agreement creates huge opportunities for all its divisions. Jan Vercammen, CEO of Egemin Automation, emphasised: "Egemin Automation has been working closely with the brands of the KION Group for many years. Being part of the KION Group will open up huge growth opportunities for the Handling Automation division. And it allows the four other divisions of the Egemin Group to focus on the growth of their core activities.” Jan Vercammen will manage Egemin Automation within the KION Group and report directly to the KION CEO Gordon Riske. Egemin Automation will be integrated in the KION Group as an independent company under the brand name Egemin Automation and will be responsible for the Group's project business in the fields of system solutions and automation. Particularly the intralogistics systems (ILS) business of the KION brand STILL will be closely linked to Egemin’s handling automation activities.
The KION Group The KION Group – comprising the six brands of Linde, STILL, Fenwick, OM STILL, Baoli and Voltas – is the largest manufacturer of industrial trucks in western and eastern Europe, the global number two in the industry and the leading non-domestic supplier in China. The Linde and STILL brands serve the premium segment worldwide. Fenwick is the largest supplier of material handling products in France, while OM STILL is a market leader in Italy. The Baoli brand focuses on the economy segment, and Voltas is a leading provider of industrial trucks in India. The KION Group is present in more than 100 countries and, in 2014, employed almost 23,000 people and generated revenue of around €4.7 billion. KION GROUP AG has been listed on Deutsche Börse's Frankfurt Stock Exchange since June 2013 and was admitted to the MDAX, the German stock index for medium-sized companies, in September 2014.Learn More
Did you enjoy this great article?
Check out our free e-newsletters to read more great articles..Subscribe