Cooperation with China's Weichai Power Promotes German Truck Giant KION
The cooperation with Chinese Weichai Power should be one of the best examples of win-win result of Chinese investments in German companies, German industrial giant KION's Chief Executive Officer Gordon Riske said on Thursday.
KION Group is a leading German supplier of industrial trucks, related services and supply chain solutions.
Weichai Power, however, a Chinese enterprise that mainly produces diesel engines, started to invest in KION in 2012 and now holds more than 43 percent of the stake.
KION had very close personnel exchanges with its Chinese shareholder, keeping the corporate governance structure in good condition, said Riske.
According to the statement that the company released Thursday, the yearly revenue of KION in 2017 hit new highs, growing by 37 percent to 7.7 billion euros (9.45 billion U.S.dollars) while the net income has growing by 73 percent to 430 million euros (527 billion dollars).
However, new orders of the internal-combustion trucks made a particularly strong gain worldwide last year, primarily driven by a significant growth of over 30 percent in the Chinese market.
Ching Pong Quek, a member of the executive board of KION and chief Asia Pacific officer, said that the Chinese market is essential for KION's growth, particularly considering the growing demand for more industrial trucks and services in enormous e-commerce market.
Thanks to the positive result, the stock of KION Group has advanced by nearly 4 percent Thursday at Frankfurt Stock Exchange.
As long-term strategic partner, Wechai Power not only placed its money but also shared similar thoughts and concerns with KION in regard to R&D, production etc. of industrial trucks, Quek told Xinhua.
With Weichai Power's support, KION had accomplished the acquisition of the Luxembourg-headquartered automation and supply chain optimization company Dematic in 2016, which contributed to the significant revenue growth-up almost sixfold-in the supply chain solutions segment.
- Weichai Power Maintains a Fast Growing Momentum in Heavy-duty Truck Engine 2018-01-24
- Weichai’s Business Income Expected to Hit 220 Billion RMB in 2017 2017-12-20
- Weichai Power Joins Hands with Bosch in Developing Fuel Cells 2017-11-24
- Weichai Power Tech Innovation Center Starts Operation in Aschaffenburg 2017-11-21
- MAZ-Weichai Joint Venture Plans to Batch Produce Engines by the end of 2018 2017-09-15
- Weichai Power Set to Further Expand its Business in Southeast Asia 2017-09-14
- Weichai Laboratory Successfully Passes EPA Certificate from U.S.A. 2017-08-21
- Co-ops Between Weichai America Corp. and PSI to Bring Win-win Result 2017-06-09
- Weichai Chairman Heads a Delegation to visit MTU and MAN 2017-06-01
- Weichai Chairman Visits Europe to Discuss Global Engine Trend 2017-05-17
Submit Your Requirements, We Are Always At Your Service.
- India Commercial Vehicle OEMs See Robust Growth in February
- CEO of Geely-owned Volvo Loses Board Seat after Geely Buys Daimler 9.7% Stake
- Party Secretary of Bank of Communications Shandong Branch YuQichun Visited CNHTC
- Warren Buffett Says These 4 CEOs Are Among the Best
- Turkey Hits the Highest Level in Both Automotive, Automobile Production in 2017
- Renault Electric Trucks to Go on Sale Next Year
- China, U.S. Join Forces In EV Race
- EV Revolution in China 's Delivery & Freight Vehicles Coming
- Set Sail in 2018-XCMC Appears at PHILCONSTRUCT 2018
- Chinese Vice Premier Zhang Gaoli Inspected JAC Motors
C&C Trucks Co., Ltd.
C&C Trucks Co , Ltd (C&C Trucks), located in Sanshan Economic Development Zone, Wuhu, Anhui Province, a holding company under China International Marine Containers (Group) Co , Ltd (CIMC), is a large heavy truck enterprise integrating the research and development, production
- China Sold 162,414 Units Light Trucks in November
- Heavy-duty Trucks Sold 84,755 Units in November
- Medium-sized Trucks Sold 21,133 Units in November
- Lifan Ranks among the Top Medium Truck Sales in September
- Hongyan Ranks among the Top Heavy Trucks Sales in September
- China Sold 87,000 Units Heavy-duty Trucks in August
- Sales Volume of China’s Commercial Vehicles Reaches 293,000 Units in July
- Sales Volume of Tractors in June ,2017
- Heavy Truck Sales Expected to Pass 90,000 Mark in June
- Top 10 Sales for Light Duty Truck in May, 2017