India's leading forklift and Material Handling Equipment manufacturer, Voltas Material Handling Private Limited will operate under the name of "KION India Private Limited". Voltas Material Handling Private Limited was launched in 2011 as a joint venture between the KION Group and Voltas Ltd.
In November 2012 the KION Group became the sole owner of the Indian manufacturer. The gross revenue of Voltas Material Handling for financial year ending March 31, 2014 was Rs194 crore. With Kion taking over, the company plans to expand its reach to a wider consumer base and spread it wings to different geographies in the country.
KION in India has well spread sales and service network comprising more than 70 customer touch points and has combined market share of around 30%. Voltas brand on standalone basis is holding no. 1 position in diesel forklift product segment commanding 53% market share among Indian manufacturers.
"India is one of the fastest growing economies anywhere in the world and holds enormous potential, particularly in the manufacturing sector. We are confident that we will be able to market ourselves even more effectively under the new name and that it reflects our plans for future growth and innovation," said CP Quek, Chief Asia Pacific Officer and Member of Executive Board, KION Group AG.
KION India, part of KION Group AG, will continue to operate the Voltas Brand and Baoli Brand of Material Handling Equipment in SAARC Regions as in prior. Furthermore, KION India will continue its manufacturing operations from its current Production Plant and Corporate Office in Pune City.
"The name change is symbolic of being part of the international KION family. While our company name is changing, all the core elements will still remain the same. We will still progress in our path to continually innovate and improve our products & services and to understand and meet the aspirations of our customers, employees, vendors and stake holders. KION India fully understands the market needs & plan to introduce series of new products with latest global technology while meeting customer desire of value for money. We will continue to invest in India during coming years, fully exploiting the potential of MH market in India," said Sunil K Gupta, CEO & MD, KION India.
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