Business performance in the Group
In January 2018, the KION Group entered into an exclusive and global strategic partnership with EP Equipment, Co., Ltd., Hangzhou, a leading Chinese manufacturer of warehouse trucks. The planned acquisition of a non-controlling interest and the future collaboration will allow the KION Group to expand its product offering in the entry-level segment for lightweight warehouse trucks and thereby improve on its position as the leading supplier of electric-powered material handling equipment. The intention is to complete the transaction with EP Equipment in late 2018.
In the Supply Chain Solutions segment, the factory in Stříbro in the Czech Republic completed at the end of 2017 commenced operations in the first quarter of 2018. It produces modules for multishuttles and modular conveyor systems for the European market.
In June 2018, the KION Group issued a further promissory note. It has a volume of €200.0 million and will mature in 2025. The resulting funds were used to repay part of the long-term tranche under the acquisition facilities agreement (AFA). In January 2018, the KION Group agreed an extension, until February 2023, to the term of the revolving credit facility of €1,150.0 million arranged under the senior facilities agreement (SFA).