Voltas Material Handling, India’s leading forklift and material handling equipment manufacturer, has announced that it will operate under the name of KION India. The gross revenue of Voltas Material Handling for financial year ending 31st Mar 2014 was Rs 194 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.
"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.
"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 and services and to understand and meet the aspirations of our customers, employees, vendors and stake holders,” said Sunil K Gupta, CEO & Managing Director of KION India. He added, “KION India fully understands the market needs and 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."
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 per cent. Voltas brand on standalone basis is holding no. 1 position in diesel forklift product segment commanding 53 per cent market share among Indian manufacturers.