The KION Group further strengthened its market position in the first nine months of 2015 by making strategic acquisitions.
With effect from 7 August 2015, the KION Group completed its acquisition of the logistics automation division of Belgian automation specialist Agidens International NV (formerly the Egemin Group). Egemin Automation has become the seventh brand in the KION Group and is included in the Other segment. Fully consolidated from August 2015, Egemin Automation has not yet had a material effect on the segment’s business situation or financial performance.
Back in February, Linde Material Handling (LMH) had acquired 10.0 per cent of the shares in robotics specialist Balyo and entered into a strategic partnership.
On 20 July 2015, the KION Group exercised the put option vis-à-vis Weichai Power that it holds via LMH on 20.0 per cent of the shares in Linde Hydraulics. The transaction, which will reduce LMH’s stake in Linde Hydraulics to 10.0 per cent, had not been completed by the reporting date of 30 September 2015, which meant the shares continued to be recognised as assets held for sale.