DGAP-News: KION brand Egemin Automation strengthens warehouse systems expertise in North America with acquisition of Retrotech (news with additional features)


DGAP-News: KION GROUP AG / Key word(s): Acquisition
KION brand Egemin Automation strengthens warehouse systems expertise in
North America with acquisition of Retrotech (news with additional features)

08.02.2016 / 07:30
The issuer is solely responsible for the content of this announcement.

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- Retrotech is an established US systems integrator for automated warehouse
  and distribution solutions

- Company is valued at around $US 40 million

- KION CEO Gordon Riske: "Retrotech is a perfect complement to the offering
  of Egemin Automation in the USA."

- Retrotech will be part of Egemin Group Inc.

Wiesbaden, 8 February 2016 - The KION Group and its automation brand Egemin
Automation further strengthen their expertise in the fast-growing market
for automated warehouse systems in North America by acquiring Retrotech, an
established US systems integrator of warehouse and distribution solutions.
The KION Group has signed an agreement to purchase the company, which is
valued at around $US 40 million, with Savoye S.A. of France. The
transaction is subject to the usual conditions precedent and is expected to
be completed in the first quarter of 2016.

Retrotech, based in Rochester in New York State, provides its customers
with a wide range of solutions for integrating and modernising complex
intralogistics systems. Retrotech specializes in systems design, customized
warehouse control software and stacker crane modernization and retrofits to
ensure that warehouse systems remain in good working order. It has around
140 employees and generated revenue of approximately $US 70 million in
2015. Retrotech will be held by Egemin Group Inc., based in Holland,
Michigan, and be an operative part of Egemin Automation. The Retrotech
brand will be retained and continue to be used in the USA to represent high
quality warehouse and distribution solutions.

"Retrotech, with its excellent reputation and industry-leading expertise in
the integration of intralogistics systems, is the perfect complement to
strengthen the automation solutions currently being supplied by our brand
company Egemin Automation in the USA," says Gordon Riske, Chief Executive
Officer of the KION Group. "This deal is an important step on our journey
to becoming a leading player in the fast-growing market for automated
logistics and material flow systems. Automated intralogistics will play a
crucial role in Industry 4.0, the digital transformation of manufacturing."

Retrotech has customers in the food, consumer goods, pharmaceutical and
automotive industries as well as in e-commerce and retail. The company was
founded in 1985 and initially focused on retrofitting hand pallet trucks
and crane systems with automation solutions.

Website: kiongroup.com/mediasite 

Twitter: @kion_group


The Company

The KION Group - comprising the seven brands of Linde, STILL, Fenwick, OM
STILL, Baoli, Voltas and Egemin Automation - is the largest manufacturer of
industrial trucks in western and eastern Europe, the global number two in
the industry and the leading non-domestic supplier in China. The Linde and
STILL brands serve the premium segment worldwide. Fenwick is the largest
supplier of material handling products in France, while OM STILL is a
market leader in Italy. The Baoli brand focuses on the economy segment, and
Voltas is a leading provider of industrial trucks in India. Egemin
Automation is a leading Belgian logistics automation specialist.

The KION Group is present in more than 100 countries and, in 2014, employed
almost 23,000 people and generated revenue of around EUR4.7 billion. KION
GROUP AG is listed on Deutsche Börse's Frankfurt Stock Exchange, the MDAX
(the German stock index for medium-sized companies) and the STOXX Europe
600 index, which comprises the 600 largest companies in Europe.


Disclaimer

This document and the information contained herein are for information
purposes only and do not constitute a prospectus or an offer to sell or a
solicitation of an offer to buy any securities in the United States or in
any other jurisdiction.

This release contains forward-looking statements that are subject to
various risks and uncertainties. Future results could differ materially
from those described in these forward-looking statements due to certain
factors, e.g. changes in business, economic and competitive conditions,
regulatory reforms, results of technical studies, foreign exchange rate
fluctuations, uncertainties in litigation or investigative proceedings, and
the availability of financing. We do not undertake any responsibility to
update the forward-looking statements in this release.


Further information for the media

Michael Hauger
Head of Corporate Communications
Tel.: +49 (0)611 770 655
michael.hauger@kiongroup.com

Frank Brandmaier
Head of Corporate Media Relations
Tel.: +49 (0)611 770 752
frank.brandmaier@kiongroup.com


Further information for investors

Frank Herzog
Head of Corporate Finance
Tel.: +49 (0)611 770 303 
frank.herzog@kiongroup.com

Dr Karoline Jung-Senssfelder
Head of Investor Relations and M&A
Tel.: +49 (0)611 770 450
karoline.jung-senssfelder@kiongroup.com


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Additional features:

Document: http://n.eqs.com/c/fncls.ssp?u=WCINRAXNPV
Document title: Download press release as PDF

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08.02.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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   Language:    English                                                     
   Company:     KION GROUP AG                                               
                Abraham-Lincoln-Str. 21                                     
                65189 Wiesbaden                                             
                Germany                                                     
   Phone:       +49 (0)611 770-0                                            
   Fax:         +49 (0)611 770-690                                          
   E-mail:      info@kiongroup.com                                          
   Internet:    www.kiongroup.com                                           
   ISIN:        DE000KGX8881                                                
   WKN:         KGX888                                                      
   Indices:     MDAX                                                        
   Listed:      Regulated Market in Frankfurt (Prime Standard); Regulated   
                Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,  
                Munich, Stuttgart                                           
 
 
   End of News    DGAP News Service  
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