KION GROUP GmbH / KION Group continues to expand its footprint in Asia . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.
- KION South Asia: new entity based in Singapore
- Growth for Linde MH, STILL and Baoli
- Seng Chuan Tee appointed Managing Director of KION South Asia
Wiesbaden, 19 April 2012 - The KION Group is continuing to expand its footprint in the Asian material-handling market. By setting up a new entity, KION South Asia, in Singapore, KION is putting in place the organisational structure that will enable it to fully unlock the potential of the market in south Asia.
"Our goal is to continually expand our market share in south Asia and acquire new customers across the region", said CP Quek, President of KION Asia. The new legal entity will enable KION to carry on extending the local sales and service networks of the Linde, STILL and Baoli brands. As part of KION Asia, KION South Asia will help the brand companies to offer solutions tailored to the individual needs of their customers in the region, thereby contributing significantly to the success of KION's global multi-brand strategy.
Seng Chuan Tee has been appointed Managing Director of KION South Asia. He will report to CP Quek, President of KION Asia. "In this role, Seng Chuan Tee will be able to draw on the extensive experience he has gained in his previous management positions at Linde China and KION Asia", explained CP Quek. Prior to this, Mr. Tee worked in leading positions at General Electric Industrial Systems in the USA and south-east Asia and then in the Eaton Electrical Division in the Asia-Pacific region. "KION South Asia will benefit from his expertise in matters of strategy, marketing and business development."
KION South Asia will support the Linde, STILL and Baoli brands in the following countries: Afghanistan, Bangladesh, Bhutan, Brunei, Burma, Cambodia, East Timor, Indonesia, Laos, Malaysia, Maldives, Nepal, Pakistan, Philippines, Singapore, Sri Lanka, Thailand and Vietnam.
More than 2.2 billion people live in south and south-east Asia. The increasing economic output of this region coupled with rising domestic consumption are pushing up demand for intralogistics, creating excellent growth prospects for KION's Linde, STILL and Baoli brands.
The Company
The KION Group with its six brands Linde, STILL, Fenwick, OM, Baoli and Voltas is Europe's market leader in industrial trucks, the global number two in the industry and the leading international 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 one of the two market leaders in India. The KION Group employed roughly 22,000 people and generated revenue of around €4.4 billion in 2011.
Disclaimer
This press release contains forward-looking statements involving known and unknown risks, uncertainties and other factors, many of which are outside the control of the KION Group ('KION'), are difficult to predict and may cause future developments to differ significantly from assumed developments as expressed or implied in the forward-looking statements in this press release.
Any liability (including in respect of direct, indirect or consequential loss or damage) of any member of KION with a view to the information contained in this press release is expressly disclaimed. This press release does not purport to contain all of the information that may be required to evaluate any proposed transaction, and any recipient hereof should seek its own legal, accounting and other relevant professional advice.
No member of KION undertakes any obligation or expects to update or revise this press release, including forward-looking statements or any other information contained herein, whether as a result of new information, future events or otherwise.
For further information please contact
Michael Hauger
Head of Corporate Communications
Tel.: +49 (0)611 770 655
Email: michael.hauger@kiongroup.com
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: KION GROUP GmbH via Thomson Reuters ONE
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KION GROUP GmbH
Abraham-Lincoln-Strasse 21 Wiesbaden Germany
