KION Group has entered into a strategic partnership and acquired a minority stake in EP Equipment to enhance its product offerings in the growing market for entry-level warehouse equipment.

Information on the Target

The KION Group has entered into an exclusive global strategic partnership with EP Equipment, a leading Chinese manufacturer specializing in light-duty warehouse equipment. The agreement, signed in Anji, China, includes KION acquiring a minority stake in EP Equipment, which is known for its strong customer focus and innovative product offerings. Founded in 1999, EP Equipment has experienced significant growth both in China and internationally, shipping over 50,000 units in 2017. The collaboration aims to enhance KION's product range in the entry-level warehouse equipment segment, benefiting both companies by leveraging their mutual strengths.

EP Equipment is particularly recognized for its electric warehouse equipment and has established production facilities in both China and the USA, along with a network of subsidiaries in Europe and Thailand. With a workforce of over 1,000 employees, the company is committed to innovation and customer service, enabling it to sustain a market-leading position in the competitive landscape.

Industry Overview in China

The Chinese market for industrial trucks has proven to be the largest and most crucial worldwide, with a reported expansion of 40 percent in the first nine months of 2017. This growth has been significantly