KION GROUP GmbH / KION Group to conclude restructuring of Linde Material Handling's container handler and heavy truck business in October 2013 . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.
- Consultation period regarding potential closure of Merthyr Tydfil site ended
- Production will cease at Merthyr Tydfil during Oct 2013
- Linde Material Handling will transfer heavy truck production to contract manufacturing facility
- Linde Material Handling will continue to offer container handling and heavy forklift trucks worldwide
Wiesbaden, 23 May 2013 - The KION Group, the largest pure play manufacturer of industrial trucks in terms of revenue, today announced, following a period of consultation, the closure of its heavy truck production facility in Merthyr Tydfil (Wales, UK) by the end of October 2013. The reorganisation forms part of its continuing efforts to further improve the efficiency of its European production network.
Production of the Linde Material Handling heavy forklift trucks will be mainly transferred to a contract manufacturing facility in the Czech Republic during the coming months with full production at the new facility timetabled for October 2013. In the area of container handling trucks Linde Material Handling has already started a partnership with Konecranes.
Linde Material Handling, which is wholly owned by KION Group, and its dealer network will continue to sell a wide range of container handling products and heavy forklift trucks to customers globally. The company will maintain the highest standards in quality, delivery, performance and value - all standards that its customers are accustomed to.
The Merthyr Tydfil site employs 203 people in manufacturing, engineering, sales, service and administration. The Group has agreed an appropriate loyalty and severance package with the employees and their representatives and offers the opportunity to apply for vacant positions at other sites to the employees affected.
KION is also committed to providing as much assistance as possible to employees seeking alternative work or training.
The company
The KION Group - comprising the six brands Linde, STILL, Fenwick, OM STILL, Baoli and Voltas - is Europe's market leader in industrial trucks, 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 one of the two market leaders in India. The KION Group employed more than 21,000 people and generated revenue of €4.73 billion in 2012.
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 regard 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
Frank Brandmaier
Head of Corporate Media Relations
KION Group
Tel: +49 (0) 611 770 752
Email: frank.brandmaier@kiongroup.com (mailto:frank.brandmaier@kiongroup.com)
Manfred Hoehn
Head of Corporate Communications
Linde Material Handling
Tel: +49 (0) 6021 99 1306
Email: manfred.hoehn@linde-mh.de (mailto:manfred.hoehn@linde-mh.de)
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
