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KION Group & BMZ Holding to Launch JV for Lithium-ion Batteries

Metal News - Published on Tue, 16 Jul 2019

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KION GROUP AG takes another major step forward on its growth and innovation path. The leading global provider of intralogistics solutions will join forces with BMZ Holding GmbH to form a joint venture under the name of KION Battery Systems GmbH. This joint venture will manufacture lithium-ion batteries for industrial trucks in the EMEA region. The two companies now signed an agreement to this effect. KION GROUP AG and BMZ Holding GmbH will each hold a 50 percent stake in the joint venture. The objective of the JV is to broaden the lithium-ion product offering and to increase production capacity to best serve the rapidly growing demand for lithium-ion battery systems in the intralogistics market.

The production facility for the joint venture is built by BMZ Holding GmbH in Karlstein am Main, the headquarters of the BMZ Group. By 2023, the workforce of the JV is expected to grow to around 80 employees working in mainly research, development and production functions.

Both KION and BMZ have world-leading know-how in the field of lithium-ion technology. Initially, the new JV will focus on the production of 48-volt and 80-volt batteries for counterbalance trucks. Soon, the offering will be expanded to 24-volt batteries for smaller warehouse trucks.

The transaction still needs to be approved by the competent antitrust regulator.

The new business will be jointly managed by the KION Group and BMZ Holding. KION's Carsten Harnisch and Christian Hasenstab from BMZ will be appointed as managing directors of KION Battery Systems GmbH. Likewise, each founding company will appoint two members of the four-person shareholders' committee. The joint venture will be fully consolidated by KION GROUP AG.

Source :

Posted By : Ratan Singh on Tue, 16 Jul 2019
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