Purchasing KION Propels the Internationalization of Weichai

www.chinabuses.org: In Frankfurt at 9:21 on June 28th, CEO of KION Group Gordon Riske rang the bell to declare the trading of the world's prominent forklift manufacturer in Frankfurt Stock Exchange, with the opening price of EUR 24.19.

Weichai Power increased its shares of KION Group to 30%, a key step forward to internationalization. In 2012, Weichai Power has invested a total of EUR 738 million, including EUR 467 million paid in to acquire its 25% stake in KION through a capital increase and EUR 271 million paid to Linde Material Handling GmbH for its 70% majority stake in Linde Hydraulics.

President and CEO of Weichai Power Tan Xuguang said all the company staff are sharing the same dream-the flourishing of China's equipment manufacturing. Weichai Power enhancing its international competitiveness by overweighting the shares of KION Group and the merger of the two groups will accelerate the pace of Weichai on its way to Fortune 500.

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