KION Group
| Company type | Public (AG) |
|---|---|
| Industry | Materials handling equipment, intralogistics solutions |
| Predecessor | Linde Material Handling, Still, OM Carrelli Elevatori S.p.A. |
| Founded | September 6, 2006 |
| Headquarters | Frankfurt , Germany |
Area served | Worldwide |
| Products | Industrial trucks (forklifts), automated warehouse machinery, supply chain solutions |
Number of employees | 42,325 (2024) |
| Website | www |
Kion Group AG (marketed as KION Group) is a German multinational corporation focused on manufacturing materials handling equipment, with its headquarters located in Frankfurt, Hesse, Germany. The company’s primary offerings encompass intralogistics solutions, automated warehouse machinery, and industrial trucks such as forklifts. Established in 2006 after the separation of the materials handling division from Linde, KION Group ranks as the second-largest forklift producer globally by revenue, surpassed only by Toyota Industries.
Name
The name Kion is a coined term inspired by the Swahili word "Kiongozi," which translates to "leader."
Establishment and early development
On 6 September 2006, subsequent to Linde AG's acquisition of BOC, the gas and engineering segments were consolidated under The Linde Group, while the materials handling units—including Linde Material Handling, Still, and OM Carrelli Elevatori S.p.A.—were rebranded as Kion Group. Linde AG divested Kion to a consortium led by KKR and Goldman Sachs Capital Partners for approximately €4 billion.
Growth through acquisitions and international ventures
In January 2009, Kion established a joint venture in China named Kion Baoli (Jiangsu) Forklift alongside Jiangsu Shangqi Group and Jingjiang Baoli Forklift, achieving full operational control by May 2010.
By March 2011, Kion had collaborated with Indian engineering company Voltas to form Voltas Materials Handling, targeting material handling operations within India. In November 2012, Kion acquired the remaining 34% stake from Voltas.
In August 2012, Weichai Power, a subsidiary of China's Shandong Heavy Industry, obtained a 25% equity interest in Kion for €467 million and acquired a 70% controlling share of Kion’s hydraulics division for €271 million.
In February 2013, Kion divested the product rights for Linde-branded reach stackers and container handlers to Finnish crane manufacturer Konecranes; financial details of the transaction were not disclosed.
Public listing and continued growth
Kion debuted on the Frankfurt Stock Exchange on 28 June 2013 and was subsequently included in the MDAX index in September 2014.
In September 2014, Voltas Material Handling was rebranded as Kion India, marketing forklifts powered by electric motors and combustion engines as well as warehouse technology under both Voltas and Baoli brands across the Indian market.
The company further expanded its portfolio by acquiring Belgian firm Egemin in 2015 and US-based Retrotech in 2016. In June 2016, Kion Group completed the acquisition of Dematic for €1.9 billion. The corporate headquarters relocated from Wiesbaden to Frankfurt Airport in 2017. A year later, Kion inaugurated the Kion Digital Campus in Frankfurt to foster digital innovation.
In China, Kion strengthened its presence through a strategic alliance with EP Equipment Co. Ltd in 2018, obtaining a minority stake in the Chinese manufacturer which had achieved record shipments of 50,000 units in 2017.
July 2019 saw Kion and BMZ Holdings establish an equal joint venture aimed at producing lithium-ion batteries (80V and 48V) for Kion’s vehicles at BMZ’s manufacturing site. Later that year, Kion India commenced operations at a new production facility near Pune spanning 25 hectares for manufacturing diesel and electric forklift trucks as well as battery-powered pallet and reach trucks.
In March 2020, Kion expanded its digital capabilities by acquiring UK-based Digital Applications International Limited (DAI) for an estimated €123 million.
Latest advancements
In July 2021, Kion inaugurated a manufacturing facility for industrial trucks in Kołbaskowo, near Szczecin, Poland. This plant produces counterbalance trucks for all brands within the Kion Industrial Trucks & Services division. To enhance delivery speed, production of additional product lines that were formerly exclusively manufactured in Xiamen, China, was transferred to the Kołbaskowo site in 2022.
By December 2021, Kion had established a counterbalance truck manufacturing plant in Jinan, China, covering an area of 223,000 square meters. This site incorporates research and development, training, and administrative offices, serving Linde Material Handling and Baoli brands.
Organizational framework
During the 2024 fiscal year, KION Group AG managed nearly 2,000 sales and service centers spanning over 100 countries, with an average workforce of 42,325 employees. The group reported consolidated revenues amounting to €11.5 billion (compared to €11.4 billion in 2023), an adjusted EBIT of €917 million (up from €791 million in 2023), and achieved an adjusted EBIT margin of 8.0% (versus 6.9% in 2023). Free cash flow stood at €702 million (down slightly from €715 million in 2023).
KION operates manufacturing sites and R&D facilities across Europe, North and South America, Asia, and Australia. The company maintains 25 subsidiaries within Germany and an additional 107 internationally.
In February 2025, the company unveiled a cost-efficiency initiative aimed at generating annual savings between €140 and €160 million by 2026, with anticipated one-time expenses ranging from €240 to €260 million during 2025.
Offerings and brand portfolio
The Kion Group delivers industrial trucks along with comprehensive supply chain solutions, including forklifts, warehouse trucks, and integrated automation systems.
Kion’s product lineup is marketed under six distinct brands: Dematic focuses on automated material flow solutions for supply chain automation; Linde and Still cater to the premium industrial truck market segment; Baoli addresses the economy sector. Fenwick stands as France’s leading industrial truck supplier, OM Still holds a dominant position in Italy, and OM Voltas leads the Indian market.
Innovation and development
In August 2020, Kion entered into a strategic alliance with Quicktron Intelligent Technology Co., Ltd, a Chinese manufacturer of autonomous mobile robots. This partnership facilitates global distribution of Quicktron products alongside collaborative efforts on automated vehicle development.
By October 2021, Kion secured licensing rights for an AI-powered autonomous vehicle fleet created by Fraunhofer IML designed for sorting and distribution tasks, working jointly on its further refinement.
In December 2023, Kion collaborated with Aschaffenburg Technical University to unveil research on autonomous counterbalance trucks equipped with electro-hydraulic steering systems intended for outdoor applications.
January 2025 saw Kion form partnerships with NVIDIA and Accenture to incorporate Physical AI into warehouse processes. Utilizing NVIDIA Omniverse technology to develop digital twins of warehouse environments, this project aims to improve automation capabilities, operational efficiency, and adaptability within supply chain management.
Environmental responsibility
Since early 2023, Kion has been advancing the development and production of fuel cell technology for its industrial trucks, emphasizing hydrogen propulsion systems. That year marked the commencement of manufacturing a 24-volt fuel cell system tailored for warehouse trucks as well as initiating construction of a government-supported hydrogen refuelling station featuring an electrolyser.
As part of its "Kion 2027 Strategy," the company pledged commitment to the Science Based Targets initiative (SBTi) in July 2023, aiming to achieve net zero carbon emissions no later than 2050.
Kion Battery Systems, based in Karlstein am Main, produces lithium-ion batteries utilized by electric industrial trucks (including Linde MH, Fenwick, Still, Baoli) and automated warehouse solutions. In September 2023, Kion collaborated with Li-Cycle Holding Corp. to introduce a sustainable lithium-ion battery recycling program at their Magdeburg facility. This initiative targets recovering up to 95% of critical minerals and materials with plans to recycle as much as 5,000 tonnes of battery components by the year 2030.
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