Partnership with Weichai Power

Dear busines partner,

Our parent company KION Group and Weichai Power, a leading supplier of vehicles and vehicle components in China have agreed on a long-term strategic partnership. In this partnership Weichai Power is to take over a 25 percent share of the KION Group and a majority share of 70 in the JION hydraulics business.

Weichai Power is active in three fields of business: Drives (engines, gearboxes and axles), commerical vehicles and automotive electronics and automotive parts. The company is world market leader in high speed and high performance engines as well as heavy duty gearboxes, employs 42 000 staff worldwide and generates an annual turnover of Euro 7.5 billion.

Besides KKR and Goldman Sachs Capital Partners the KION Group will be owned by another longterm-oriented investor and increases its capital base considerably by this. The partnership will open both companies great potential of growth, because products technologies and the regional market positions perfectly augment each other. We are pleased to have another strong investor at our side with Weichai Power.

STILL is going to make consistent use of all the chances to development and global growth that arise from the new partnership of our parent company KION with Weichai Power.

Our business relation will remain unaffected by the new partnership. As an independent brand within the KION Group, STILL will remain to be your trustworthy partner in every aspect with respect to customised internal logistics, including forklift trucks and warehouse equipment as well as service and software products for your demand.

We are looking forward to continue our trustworthy collaboration.

Yours sincerely,

STILL Management Board
Bert-Jan Knoef, Thomas A. Fischer, Goran Mihajlovic, Thomas Töpfer