The KION Group’s new plant in Stříbro near Plzeň in the Czech Republic has been designed as a smart factory with digitally connected systems. Production got under way in January 2016. The Stříbro plant is initially building reach trucks for the Linde brand. Employing around 150 people to begin with, the factory has the capacity to manufacture 12,000 trucks per year. The total capital expenditure came to €12 million.
KION Group’s renewed financing structure was completed on 15 February 2016. This included repayment ahead of schedule of the final corporate bond and the arrangement of a new credit facility that offers far more favourable terms with investment-grade characteristics.
The KION Group acquired Retrotech Inc., an established systems integrator of automated warehouse and distribution solutions headquartered in Rochester, New York State, with effect from 1 March 2016. This acquisition is enabling the KION Group and Egemin Automation to further strengthen their automated warehouse systems expertise, especially in North America. Demand in this field is increasing rapidly. In 2015, Retrotech Inc. employed over 150 highly specialised workers and generated revenue of roughly €62.0 million. In operational terms, the company is part of Egemin Automation and is included, and reported on, in the Other segment.