Tuesday, 16 July 2019

Orth Kluth advises KION GROUP AG on joint venture formation with one of the leading providers of lithium-ion battery solutions

KION GROUP AG, the world's leading intralogistics supplier, and BMZ Holding GmbH are establishing a joint venture under the name KION Battery Systems GmbH to manufacture lithium-ion batteries for industrial trucks. Both partners will each hold a 50 percent share in the joint venture (JV). The aim of the JV is to expand the lithium-ion product range and production capacities in order to best meet the rapidly growing demand for lithium-ion battery systems in the field of intralogistics.

Europe's largest producer of industrial trucks and one of Europe's leading suppliers of lithium-ion battery solutions are entering into a far-reaching strategic partnership with the joint venture. The transaction is subject to approval by the relevant antitrust authorities.

The KION Group is a leading global supplier of forklift trucks, warehouse technology and related services as well as supply chain solutions. With its logistics solutions, the KION Group optimises the flow of materials and information in factories, warehouses and distribution centres in more than 100 countries. The Group is Europe's largest manufacturer of industrial trucks. The Linde and STILL brands serve the premium material handling equipment market, while Baoli concentrates on the economy segment. Under its regional industrial truck brands Fenwick is the largest material handling supplier in France, OM Voltas serves the Indian market and is a leading supplier of industrial trucks there. The group has more than 33,000 employees and generated sales of 8 billion euros in fiscal 2018.

The BMZ Group is a global player in the production of lithium-ion system solutions and operates research and development sites around the world. Around 3,000 employees work at locations in the USA, Germany, Poland, France, Japan and China in a global service network in order to be able to guarantee customers fast local support.

Orth Kluth provided KION GROUP AG with comprehensive legal advice throughout the entire transaction.