Events after the reporting date
On 3 January 2020, the KION Group signed an agreement with Weichai Power Co., Ltd., Weifang, People’s Republic of China, to jointly establish a factory for the production of Linde counterbalance trucks in China. The name of the company is KION (Jinan) Forklift Co., Ltd., Jinan, People’s Republic of China. The capital expenditure at the new site is likely to amount to around €100.0 million up to 2022.
Since the start of the year, KION GROUP AG and BMZ Holding GmbH have been operating the joint venture KION Battery Systems GmbH, Karlstein am Main, with the aim of developing and manufacturing lithium-ion batteries for industrial trucks.
In January 2020, KION GROUP AG repaid all of the remaining liability of €200.0 million under the acquisition facilities agreement (AFA) earlier than planned.