Germany’s Kion Group aims to become world leader of industrial trucks

March 30, 2014 Leave a comment

Germany’s Kion Group aims to become world leader of industrial trucks
FRANKFURT, March 20 (Xinhua) — Kion Group, one of the world leading truck firms, on Thursday released financial results for the year 2013 and announced it aimed to become world leader of industrial trucks.
The Kion Group based in the city of Wiesbaden in Germany, reported consolidated revenue of 4.495 billion euros (6.193 billion U.S. dollars), slightly down from 4.56 billion euros in 2012.Its operating profit, on the other hand, rose by 2 percent to its highest level of 416.5 million euros. It achieved net income of 138.4 million euros, down from 161.4 million euros in 2012.
“In 2014, we want to capitalize on our strong position in the market for new trucks and on the comprehensive network we have built up for our global service business in order to generate further profitable growth,” said Gordon Riske, Chief Executive Officer of the Kion Group.
It unveiled a plan called Strategy 2020, under which the company aimed to become the industry leader worldwide and a significantly higher return on capital employed.
“Asia, especially China, plays a central role in the Kion Group’s growth plans,” said a press release of the company.
The Kion Group has six brands of Linde, STILL, Fenwick, OM STILL, Baoli and Vol, and is the global number two in the industry.

Filed under Macro Trends

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