The KION Group has formed a joint venture with the Baoli Group to create KION Baoli, focusing on the economy segment of the forklift market in China.

Target Information

The KION Group GmbH has reached an agreement with the Chinese enterprises Jingjiang Baoli Forklift Co., Ltd and Jiangsu Baoli Group Co., Ltd to establish a new joint venture in China. This venture, named KION Baoli (Jiangsu) Forklift Co., Ltd, focuses on the development, production, distribution, and servicing of forklifts within the economy segment. KION Group holds a 60% stake in this newly formed entity, which will commence operations on January 16, 2009, in Jingjiang, Jiangsu Province. As the fourth brand of the KION Group, KION Baoli will enhance the company's product portfolio, specifically targeting the previously underserved economy segment.

KION Baoli will offer a comprehensive range of forklifts, including combustion-engine and electric models with load capacities ranging from 1 to 10 tons. The Baoli Group generates half of its revenue from international markets, with significant growth driven by the vibrant economies in Asia, Central and Eastern Europe, and Latin America. With over 40 locations across China, KION Baoli is strategically positioned to complement the existing Linde network in the region, starting with a workforce of approximately 500 employees. The founder of Baoli, Hui Yin, has been appointed as the managing director of KION Baoli.

Industry Overview in China

The forklift manufacturing industry in China has been experiencing robust growth, becoming a global powerhouse in production capacity. The country is not only a significant market for domestic sales but also a leading exporting hub for forklifts. Recent years hav