KION Group AG is setting up an employee share programme that will benefit its employees in Germany.

Spokesman Frank Brandmaier tells Forkliftaction.com News the programme was announced to employees in June 2012 and that kick-off is aimed for 2014. "So far, there hasn't been much feedback from employees since the programme is still being conceptualised."

This means KION can't be specific on which of its forklift brand companies or which other countries will be included in the programme, although it says the programme will eventually be rolled out outside Germany.

Preparations for the programme include the buyback of shares to be held in treasury. Between 28 August 2013 and 15 October 2013, up to 200,000 no-par-value shares will be repurchased, which is equivalent to about 0.2% of the share capital. The shares will then be offered to staff as part of the employee share programme.

Goldman Sachs International is conducting the buyback programme. According to KION, Goldman Sachs will decide on the execution of the purchase, independently and without any influence from KION Group AG. In 2006, Linde AG sold its forklift business (later renamed KION) to Kohlberg Kravis Roberts & Co and Goldman Sachs Capital Partners for EUR4 billion (USD5.082 billion) (Forkliftaction.com News #285).

"Our company's success relies on a high level of commitment from our employees," says Gordon Riske, CEO of KION Group AG. 'We want to reward this dedication with a share programme that is designed to help our employees identify with the company even more strongly."

The KION Group, comprising the six brands Linde, STILL, Fenwick, OM STILL, Baoli and Voltas, is the largest industrial truck manufacturer in Europe, the global number two in the industry and the leading non-domestic supplier in China.

It employed over 21,000 people and generated revenue of EUR4.73 billion (USD6.24 billion) in 2012. KION Group is present in more than 100 countries and has a global marketshare of about 15%.