While Caterpillar wants to enter the Chinese heavy truck market news, another commercial vehicle giant KION Group will also be involved in the Chinese commercial vehicle market.
Today, NetEase.com learned from the KION Group Chinese company that KION is currently seeking acquisition opportunities in the Chinese market to expand its share of the Chinese market. “We are already in touch with several acquisition targets and we will make progress at the earliest by the end of the year,†said a person from KION China.
The Kion Group, which specializes in the production of commercial vehicles such as forklifts, is the leader in the European commercial vehicle market. With annual sales of more than 4.6 billion euros, it ranks second in the world (after Toyota) and the actual owners behind are KKR and Goldman Sachs.
In 2006, KKR and Goldman Sachs bought the KION Group for a price of 4 billion euros in an attempt to create an empire that could surpass Toyota and completed the European listing of the KION Group.
In order to ensure that the KION group is more powerful, KKR and Goldman Sachs took it out of the European market. The Chinese market has naturally become one of the most important markets in the eyes of KKR and Goldman Sachs.
Currently, the KION Group has a total of four brands, including Linde, STILL, OM, and Baoli, and Linde and Breguet are mainly used in the Chinese market. (Baoli) brand.
In fact, the acquisition and integration of the KION Group in the Chinese market has been “secretly†initiated.
Korneo Group CEO Gordon Riske had a very low profile visit to China in June this year, and how to re-arrange the KION Group's blueprint for the Chinese market is one of the important tasks of Gordon Riske China Bank.
In January 2009, KION Group and Jiangsu Shangyu Group jointly established a joint venture company, KION Baoli. Netease Finance was informed that, through continuous capital injection (the specific amount is unknown), the KION Group has now fully taken over the joint venture company KION Baodi and integrated it into the KION Group's global system.
In China, the brand “Kiobo Breeze†specializes in the positioning of economical forklifts in the global logistics and transportation market. Its products cover diesel, gasoline, liquefied gas forklifts, electric forklifts, warehouse forklifts, etc., with payloads ranging from 1 to 10 tons and even more. And so on, the products are distributed in all provinces in China and more than 80 countries and regions in the world.
In the context of M&A integration in the Chinese market, Gordon Riske, chief executive officer of KION Group, said: “China is one of the fastest growing markets in the industry, accompanied by increased investment in KION Baodi, a highly competitive product portfolio. It will become an important strategic pillar for us to explore other emerging markets."
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