We are a leading global supplier of industrial trucks and we are well-positioned to capture growth opportunities in our European home market as well as across global growth regions by leveraging our leading market positions, our global sales and service network, our comprehensive product and service offering, our technological leadership and our multi-brand offerings. We are the largest manufacturer of industrial trucks in Europe and the second largest manufacturer globally in terms of unit sales. Our European market share (including Russia) amounted to approximately 33% in 2011 with a global market share of approximately 15%, and we benefit from an installed fleet of over one million trucks. We are the overall number three competitor and the largest non-domestic player in China, as well as one of the leading industrial truck brands in other important growth markets such as Eastern Europe, Asia and South and Central America. We are the largest global manufacturer focused solely on industrial trucks, and we complement our new truck business with a broad service offering.
We market through our two global brands, Linde and STILL, and through our four regional brands, Fenwick (France), OM STILL (Italy), Baoli (China and emerging markets) and Voltas (India). We operate 19 separate production sites, three of which are exclusive to our hydraulics and components business, and through more than 1,200 distributors, dealers and other sales outlets in over 100 countries. We offer a full range of products including warehouse and counter-balance trucks with both electric and internal combustion engines, across the premium, value and economy segments.
We complement our products with a comprehensive service offering geared to our customers’ specific needs, including after sales service, financial services, fleet management and software solutions. Our service activities are an essential sales support function for our new truck sales business and also generate higher margins as well as more stable revenue on a stand-alone basis. Our production and service activities are complemented by our Linde hydraulics business, which manufactures high-end hydraulic components for use within our products, as well as customized hydraulic components for external customers, across a variety of industries. In 2011, 54% of our revenue was generated from new truck sales, 42% from our service offering and 4% from hydraulics. In Q3/2012, 55% of our revenue was generated from new truck sales, 42% from our service offering and 3% from hydraulics.
On 31 August 2012, we signed an agreement to form a long-term strategic partnership with Weichai Power Co., Ltd. Weichai Power is a leading Chinese automotive and equipment manufacturing group and part of the Shandong Heavy Industry Group. Under the agreement, and subject to closing, Weichai Power will acquire 70% of KION’s hydraulic business as well as a 25% stake in the KION Group. The core of the strategic partnership is to intensify the cooperation of both companies in the field of material handling and hydraulic drive technology. The partnership also offers the opportunity to gain unique access to the Chinese and other Asian markets, while benefitting from Weichai Power’s expertise in the field of engines and drive technology.