In August 2012, the China-based Shandong Heavy Industry's Weichai Power subsidiary agreed to acquire a 25% stake in KION Group for €467 million, and a 70% majority stake in Kion's hydraulics business for €271 million. KION Group acquired Voltas' 34% shareholding in the venture in November 2012. In March 2011, KION Group and the Indian engineering company Voltas agreed to form a new joint venture, Voltas Materials Handling, comprising the two companies' material handling equipment operations in India.
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In May 2010 KION Group acquired full management control of Kion Baoli. In January 2009 KION Group formed a China-based forklift manufacturing joint venture, Kion Baoli (Jiangsu) Forklift, with Jiangsu Shangqi Group and Jingjiang Baoli Forklift. Linde AG sold KION Group to a partnership of Kohlberg Kravis Roberts and Goldman Sachs Capital Partners for approximately €4 billion. On 6 September 2006 Linde AG announced a new structure following the completion of its acquisition of The BOC Group, with the gas and engineering businesses of the combined entity operating as The Linde Group and the materials handling businesses (Linde Material Handling, STILL, and OM Carrelli Elevatori S.p.A.) operating as KION Group.
"Kion" is an invented name derived from the Swahili word "Kiongozi", which means "leader". Corporate headquarters in Frankfurt am Main Name
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