The KION Group has signed an agreement to buy Belgian automation specialist Egemin Group’s handling automation division for about €72 million (US$80.3 million).
The transaction is subject to a number of customary conditions precedent and is expected to be closed in the course of the third quarter of 2015.
The KION Group is one of the world’s two largest suppliers of forklift trucks, warehouse technology and associated services and increases with this acquisition the number of brands in its portfolio to seven.
The Wiesbaden-based company is expanding its expertise and capabilities in system solutions for intralogistics and automation, fields that are seeing increasingly strong demand.
Egemin’s handling automation division offers customized solutions for the automation of logistics in warehouses, distribution centers and factories.
It delivers automated warehouse systems, automated guided vehicles and in-floor chain conveyors solutions.
In fiscal year 2014, the division generated about €76 million of revenues with more than 300 employees.
