KION Group acquires Indian forklift manufacturer Voltas Material Handling

After co-founding in May 2011, KION becomes sole shareholder.
By Modern Materials Handling Staff
November 05, 2012 - MMH Editorial

The KION Group has today acquired Voltas Limited’s 34% minority shareholding in Voltas Material Handling Pvt. Ltd. (VMH). VMH was founded jointly by the KION Group and Voltas Limited in May 2011. The KION Group has now become the sole shareholder.

VMH will continue to use the “Voltas” brand for its products and services. Mr. Sunil K. Gupta, currently the CEO of VMH, has also been appointed as Managing Director of VMH. VMH is one of the KION Group’s six brand companies. It develops, manufactures, sells and maintains forklift trucks and warehouse trucks under the Voltas brand.

VMH’s manufacturing is based in India and its business activities focus primarily on the Indian market. Its product range includes diesel trucks, LPG trucks and electric forklift trucks with load capacities of 1.5 to 16 tonnes plus warehouse trucks. Construction of a new plant in Pune enabled VMH to double its production capacity last year. VMH has a network of 14 sales offices and 35 dealerships with which it serves the hugely populous Indian market.

“The acquisition of VMH in its entirety is another milestone in our successful global growth strategy,” said Gordon Riske, CEO of the KION Group. “This step paves the way for us to continue to tap into the Indian market and harness its attractive long-term potential for growth.”

Sunil K. Gupta, Managing Director of VMH, added: “We want to build on our leading position in India and become - and stay - the undisputed number one. The pairing of VMH’s experience of the Indian market with KION’s technology leadership puts us in the best possible position to achieve this objective.”



Subscribe to Modern Materials Handling magazine

Subscribe today. It's FREE!
Find out what the world's most innovative companies are doing to improve productivity in their plants and distribution centers.
Start your FREE subscription today!

Recent Entries

This complimentary white paper addresses areas of potential benefit to a grocery distributor considering an investment in automated case picking technology.

In 2015, a new era in shipment pricing will go into effect when major carriers implement dimensional ("dim") weight pricing for all ground packages regardless of their size. This complimentary white paper, "Dimensional Weight: Don't Let it Weigh You Down", can help you optimize your packaging operation to minimize the financial impacts of dimensional weight pricing.

Replacing older, less-efficient lift trucks at the right time can reduce your maintenance costs, improve your productivity and, most importantly, save money and maximize your return on investment. So how do you determine the right time to make a new, significant purchase? Download this complimentary white paper for guidance on how to determine the ideal time to replace lift trucks and how planned replacement can benefit your operation.

The prolonged operating hours of automated distribution operations leave limited time for maintenance. For tightly-scheduled fulfillment operations, unplanned downtime not only cuts into slim profit margins, it jeopardizes future business and customer loyalty. Download this complimentary white paper to learn five mission-critical benefits of implementing a resident maintenance program.

Debut of Pharma EXPO plays crucial role in increase.

About the Author

Josh Bond, Associate Editor
Josh Bond is an associate editor to Modern. Josh was formerly Modern’s lift truck columnist and contributing editor, has a degree in Journalism from Keene State College and has studied business management at Franklin Pierce. Contact Josh Bond

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2013 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA