Spend 16.3 billion! Weichai intends to merge overseas companies to enter the US market

Recently, KION, a subsidiary of Weichai Power, signed an agreement with Dematic's shareholders. KION has spent about US$2.1 billion (approximately HK$16.38 billion) to acquire all Dematic shares. The transaction will be paid in cash. Kion plans to borrow a temporary loan of 3 billion euros to pay for the acquisition. Weichai Power holds 38.3% of Kion’s equity and is the largest single shareholder of the company. Therefore, the transaction will help Weichai to enter the US market.
Weichai Power Weichai Power

Dematic is a leading global supplier of highly integrated automation technologies, software, and services to optimize the supply chain and meet the material handling needs of customers. Its product and system portfolio covers a wide range of applications, from automated guided vehicles to pallet stackers. Includes storage and sorting equipment such as automated storage retrieval systems, sorters and conveyors, leading integrated software platforms and automation technologies.

Dematic customers include Ford Motor, Harry Motor, Amazon and Wal-Mart. Dematic achieved operating revenue of US$1.8 billion in 2015, and adjusted EBIT was US$166 million. Dematic employs nearly 6,000 skilled logistics professionals. The combined annual revenue of the two companies reached 6.7 billion Euros, adjusted core profit margin was 9.4%, and 30,000 employees were employed worldwide.

Dematic has a global engineering center and manufacturing base and has more than 100 locations in 22 countries around the world. With leading position in the United States, Europe and other parts of the world, it has provided more than 4,500 integrated systems for multi-industry SMEs, including the fastest-growing e-commerce industry.

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