KION Group has sixth forklift brand with joint venture

Local News
- 24 Mar 2011 ( #506 ) - Wiesbaden, Germany and Mumbai, India
3 min read
KION CEO Gordon Riske
KION CEO Gordon Riske
KION Group and Voltas Ltd have agreed to establish a joint venture in India to develop, manufacture, market and service forklifts and warehouse equipment.

Last year, KION reinforced its interest in the Chinese low-end market after taking control of its joint venture company with Chinese manufacturer Baoli (Forkliftaction.com News #464). The group's latest joint venture with one of India's leading forklift manufacturers is expected to give Voltas technology leadership and KION a foothold in another emerging market.

Voltas, which manufactures an array of industrial products, will integrate its materials handling operations into a joint venture company, with KION Group as the majority shareholder. The new company, Voltas Material Handling (VMH), is expected to start operations in April.

KION spokesman Michael Hauger tells Forkliftaction.com News that Voltas's current management team will continue running the forklift business.

"We will start with the employees of the Voltas materials handling business," Hauger explains when asked if new staff would be hired.

He adds that KION does not intend to transfer a large number of its staff to Voltas as the company's materials handling business is already led by a highly experienced team. "Like in all our international activities, we strongly believe in the success of the local management, which is very close to customers and markets."

Hauger says Voltas forklift users will continue to enjoy the high reliability of Voltas products and employees that they are used to but can expect a larger product range in the future.

"In a first step, Voltas and KION will work on further expanding the product range especially in the area of warehouse trucks."

As KION's sixth brand, Voltas will primarily target the Indian market from its local manufacturing base. The current product range includes diesel/LPG and electric forklifts with 1.5-16 ton load capacities. VMH will have 25 branches and dealerships in India. Before the joint venture, KION had been supplying forklifts to India through its Linde Material Handling and Still brands.

KION Group CEO Gordon Riske says the joint venture is a significant step towards the company's expansion into "one of the world's most promising growth markets".

"Voltas is one of the most successful forklift manufacturers in India and will provide our group with in-depth knowledge of the forklift market in India ... As part of our long-term strategy, we intend to further invest in this joint venture to take full advantage of the potential of the Indian market."

Voltas Ltd managing director Sanjay Johri says the partnership will ensure the business's long-term sustainability as it benefits from KION's "unrivalled know-how" and technological leadership in forklifts.

KION Group will not disclose the financial details of the transaction as they are still subject to certain adjustments. With its Linde, Still, Fenwick, OM and Baoli brands, KION is the leading European forklift manufacturer and has consistently ranked second in world forklift sales, after Toyota. In 2010, the group generated revenue of over EUR3.5 billion (USD4.958 billion) and employed about 20,000 people.

Mumbai-headquartered Voltas Ltd, established in 1954, offers engineering solutions for a wide spectrum of industries in areas like heating, ventilation, air conditioning, refrigeration, textile machinery, mining and construction equipment, and materials handling equipment.
New shipping JV launched in Brazil
New shipping JV launched in Brazil 2 Nov 2023 - Brasília, Brazil - 1 min read
HELI and ZF form JV
HELI and ZF form JV 8 Mar 2018 - Hefei, China - 1 min read
Sector headed for USD148 billion
Sector headed for USD148 billion 28 Jul 2016 - Dublin, Ireland - 1 min read
Previously about:
Movers & Shakers News Story - 16 Jan 2025 - 2 min read
"Future warehouse" on show News Story - 9 Jan 2025 - Las Vegas, United States - 1 min read
Baoli launches pallet stacker News Story - 19 Dec 2024 - Milan, Italy - 1 min read
Voltas transfers forklift business News Story - 5 May 2011 - Mumbai, India - 1 min read
KION Group strengthens market position News Story - 31 Mar 2011 - Wiesbaden, Germany - 2 min read
Indian academy seeks global forklift partners News Story - 22 Jul 2010 - Pune, India - 2 min read
Do you have materials handling news? Submit your news here

Find the right machine for your business with F. Uchiyama, exporter and wholesaler of used forklifts and construction machinery. With 100 years of experience in the trade, you can leave the export procedures to us!
FOR SALE:
1999 Hitachi HX99B telescopic boom
2017 Unicarriers FD80-2 counterbalance forklift
2006 Aichi RX07B scissor lift 

Find more machines here | Contact us with enquiries 

Words of support …

I know I can count on them. They give valuable suggestions on the campaign planning, and to publish content is as easy as abc, as they take care of the material layout and check links. This is a great support.

Annalisa Castellini, Marketing Manager - Bolzoni S.p.A.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Find the right machine for your business with F. Uchiyama, exporter and wholesaler of used forklifts and construction machinery. With 100 years of experience in the trade, you can leave the export procedures to us!
FOR SALE:
1999 Hitachi HX99B telescopic boom
2017 Unicarriers FD80-2 counterbalance forklift
2006 Aichi RX07B scissor lift 

Find more machines here | Contact us with enquiries 

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

PREMIUM business

Yale Lift Truck Technologies
Yale offers a full line of forklifts to help customers adapt to today's demanding supply chain.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Of course, there’s no right time advertising without right place advertising.
And when you’re looking to target the materials handling market, Forkliftaction is the ideal place.
⇒ Reach a sizable global audience of 71,500+ business people. 
⇒ Subscribed for the latest in materials handling.
⇒ Invested in making sound decisions for their operations.

DOWNLOAD OUR MEDIA KIT for audience statistics and a concise overview of our advertising offer.