Important information: SICHUAN TELOS NEW MATERIAL TECHNOLOGY CO., LTD , https://www.sichuankenlarcutters.com
• KION and Dematic's effective complementarity and synergy, KION is the global leader in global material handling solutions • KION's largest shareholder – Weichai Power fully supports this acquisition, leveraging business opportunities in industrial automation and digital applications • KION's acquisition is fully compatible with Weichai Power's overall strategic objectives and global strategic layout, expanding the business layout of Weichai Power in the global market, especially in North America. The regional and business are more diversified, and the risk resistance capability is further enhanced in Hong Kong, 2016 6 22nd - Weichai Power Co., Ltd. ("Weichai Power" or "Company", Hong Kong Stock Exchange stock code: 2338; Shenzhen Stock Exchange stock code: 000338) announced that June 21, 2016 On the day, Weichai Power's overseas subsidiary KION GROUP AG (“KIONâ€) and Dematic Group S.à r.l. (“Dematicâ€) shareholders signed an agreement to acquire all shares of Dematic Group S.à r.l. The consideration for the acquisition will be paid in cash, with a total consideration of approximately US$2.1 billion. Upon completion of the transaction, KION will acquire all of Dematic's shares.
Dematic is a leading global provider of highly integrated automation technologies, software and services to optimize supply chains and meet customer material handling needs, with a broad portfolio of products and systems ranging from automated guided vehicles to pallet stackers and including Automated storage and retrieval systems such as retrieval systems, sorters and conveyors, to leading integrated software platforms and automation technologies. Since 2013, Dematic has grown at an average annual rate of over 12%. In 2015, operating income was $1.8 billion, and adjusted earnings before interest and taxes were $166 million. Dematic employs nearly 6,000 skilled logistics professionals – including more than 3,000 engineers in engineering, software development, technology development, project management and customer service to serve customers worldwide. Dematic has a global network of engineering centers and manufacturing sites with more than 100 locations in 22 countries around the world. With a leading position in the US, Europe and other parts of the world, it has provided more than 4,500 integrated systems for large, medium and small businesses in many industries around the world, including the fastest growing e-commerce industry.
The acquisition creates an effective complement and synergy between KION and Dematic. KION, the world's second-largest manufacturer of forklift production and warehousing technology services, and Dematic, a leading automation provider and supply chain optimization specialist, will become the world's leading provider of intelligent in-house logistics solutions. KION Power's largest shareholder, Weichai Power, fully supports this acquisition and will take advantage of business opportunities in industrial automation and digital. KION's acquisition is fully compatible with Weichai Power's overall strategic objectives and global strategic layout. It expands the business layout of Weichai Power in the global market, especially in North America. The regional and business are more diversified and the risk resistance capability is further enhanced.
In December 2012, Weichai Power invested 25% in the world's leading industrial forklift manufacturer, the German KION Group. On June 28, 2013, KION was successfully listed on the Frankfurt Stock Exchange in Germany. It is currently a German MDAX constituent and the European STOXX 600 index (the index includes the top 600 companies in Europe). Weichai Power became a single major shareholder of KION by further increasing its shareholding in KION to 38.25%, and began a comprehensive consolidated statement of KION in mid-2014. In 2015, KION achieved operating income of 5.098 billion euros, accounting for nearly 50% of Weichai Power's consolidated operating income, and achieved a net profit of 221 million euros, greatly enhancing Weichai's power performance and comprehensive strength. Weichai Power's business structure is more reasonable.
Weichai Power has always adhered to the global operation strategy of “product management + capital operation†two-wheel drive, and successfully built a powertrain (engine, gearbox, axle), complete vehicle, hydraulic control and auto parts. A new pattern of coordinated development of the four major industrial sectors. In recent years, Weichai Power actively seeks strategic transformation and structural adjustment, builds a diversified business structure oriented to the whole vehicle, accelerates the global business layout and international work coordination, and gradually gets rid of excessive dependence on investment. In the future, Weichai Power will seize opportunities such as China Manufacturing 2025, Internet+, and intelligent manufacturing to promote the company's transformation from land-based power to full-field power, from general technology to core technology, from investment to investment and consumption. From domestic development to global development, from manufacturing to service-oriented enterprises, leading China's equipment manufacturing industry to become more prominent and global.
The Chinese dream is the dream of every Chinese company, and it is also the dream of every Weichai people. Weichai Power's "Thirteenth Five-Year Plan" has established the "Chai Chai Dream", which has built a century-old enterprise and has a long-lasting foundation. KION's acquisition of Dematic will help to achieve the "Cai Chai Dream", which will build a century-old enterprise and last forever. It will help promote the transformation and upgrading of China's equipment manufacturing industry and structural adjustment.
About Weichai Power Co., Ltd. (Stock Code: 2338HK, 000338SZ)
Founded in 2002, Weichai Power is one of the most comprehensive automotive and equipment manufacturing industry groups in China. It owns Shaanxi Heavy Vehicle Co., Ltd., Shaanxi Fast Gear Co., Ltd., KION Group AG, and Linde Hydraulics. A cluster of more than 40 high-quality enterprises, such as enterprises (KG), has built a new pattern of coordinated development of four major industrial sectors: the whole vehicle plate, powertrain segment, hydraulic control segment and auto parts segment, forming a nationwide The most complete and competitive industrial chain in the automotive industry, with the core technology and products of the construction machinery industry, has developed into one of the most comprehensive automotive and equipment manufacturing industry groups in China. The company was listed on the main board of the Hong Kong Stock Exchange on March 11, 2004. On April 30, 2007, it returned to mainland A-shares through a share swap.
Issued by: Weichai Power Co., Ltd. Important notes:
This press release contains forward-looking statements relating to the Group's business prospects, forecast business plans and growth strategies. These forward-looking statements are based on information currently available to the Group and are stated here at the time of the announcement in accordance with the prospects. The statement is based on certain expectations, assumptions and preconditions, some of which are subject to our control or beyond our control. Forward-looking statements may prove to be incorrect and may not materialize in the future. Forward-looking statements involve certain risks and uncertainties. Detailed data on these risks and uncertainties are set out in our other public disclosures.