China Construction Machinery Business Online
Shandong Heavy Industry to acquire 25% stake of KION Group
Post Date: 2012-08-24

It is reported that Shandong Heavy Industry Group will purchase 25% stake of the forklift truck maker Kion Group with €700m to €800m, the Germany forklift truck manufacturer, which will become China’s biggest investment in a German company.

Through the deal, Kion will be able to expand in the crucial Chinese market and Shandong Heavy Industry will have access to Kion’s expertise in industrial trucks.

The negotiations began some months ago and are now at an advanced stage with a deal expected to be signed by the end of this month, one person said. There is no guarantee a deal will be reached, however.

In spite of Europe’s debt crisis, Chinese companies continue to view Germany as an attractive investment because of its wealth of engineering talent and premium technology.

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