Photo shows the 10th anniversary ceremony of the cooperation between China's Weichai Power and German Kion Group held in Jinan, capital of east China's Shandong Province, on October 12. (Source: Weichai Power official website)
BEIJING, Oct. 13 (Xinhua) -- China's Weichai Power and German Kion Group jointly held an event on Wednesday in Jinan, capital of east China's Shandong Province, to celebrate the 10th anniversary of their cooperation, reported China Securities Journal.
In 2012, China's Weichai Power finished the merge and acquisition of Kion Group, a leading global provider of industrial vehicles and supply chain solutions, marking the greatest direct investment in a German firm made by a Chinese company.
Relying on the powerful industrial chain resources of Weichai Power, Kion achieved a doubling of its operating income in ten years to 10.3 billion euros by 2021 and was successfully listed on the Frankfurt Stock Exchange in 2013, with business covering more than 100 countries and regions now.
At the same time, Weichai Power has built the world's leading intelligent logistics industry chain and jointly expanded the global logistics market with Kion Group, which has become a new strategic growth pole of Weichai Power.
In 2020, Kion Group invested to build a high-end new energy forklift R&D and manufacturing base and launch a global R&D center in Jinan City.
In the future, Weichai Group will fully promote Kion Group to become a global leading provider of automated warehousing and logistics solutions, and support its development in its second hometown, China, said Tan Xuguang, Chairman of Shandong Heavy Industry Group and Weichai Power.
The two sides will also deepen cooperation in areas such as the integration of information technology and manufacturing, new energy power industrial chain, and continue to develop greener and smarter material handling products and supply chain solutions to upgrade China's logistics industry.
(Edited by Gao Jingyan with Xinhua Silk Road, gaojingyan@xinhua.org)
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