BackVoltas to set up joint venture with Germany’s KION Group
Voltas to set up joint venture with Germany’s KION Group
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Engineering services provider Voltas Ltd. and Germany’s KION Group GmbH have agreed to established a joint venture for the development, manufacture and marketing of forklift trucks and warehousing equipment.
Voltas’ material handling operations will be integrated into a new joint venture company, where the KION Group will hold a majority share, the companies said in a joint statement.
The new joint venture company will be named Voltas Materials Handling and is expected to start operations in April. It will focus on the Indian market with trucks that have a load capacity of between 1.5 tons and 16 tons.
“As part of our long-term strategy, we intend to further invest within this joint venture to take full advantage of the potential of the Indian market," Gordan Riske, chief executive of the KION Group, said in the release.
The KION Group has been supplying forklift trucks to India through its Linde Material Handling and STILL brands and is a leading international supplier of material handling equipment to the Indian market.
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