Shandong interested in Kion: China’s German shopping spree continues
Chinese manufacturer Shandong Heavy Industry Group is in advanced talks to take a 25% of the world’s second largest forklift manufacturer, Kion, according to reports in Germany. The manufacturer of Linde, OM and Voltas equipment is said to be open to an injection of $873 million in capital to help with debt and gain […]
Linde forklifts are among the brands produced by Kion
Chinese manufacturer Shandong Heavy Industry Group is in advanced talks to take a 25% of the world’s second largest forklift manufacturer, Kion, according to reports in Germany.
The manufacturer of Linde, OM and Voltas equipment is said to be open to an injection of $873 million in capital to help with debt and gain greater access to the Chinese market. Shandong in return is reportedly looking to gain access to Kion’s extensive research and development.
While several figures close to the companies have discussed the deal with local media, both have declined to comment.
Should it be confirmed, the $873 million deal will be the biggest China’s investment in a German company, outstripping the high profile Sany and Putzmeister acquisition and XCMG’s purchase of a stake in Schwing.