Knapp signs framework agreement with Daifuku

Warehouse automation specialist, Knapp, has agreed a framework of co-operation with the Japanese-owned logistics company, Daifuku.

In a strategic move designed to strengthen the Austrian group's presence in Asian markets, Knapp management shareholders have sold 6 per cent of Knapp shares to Daifuku.

Knapp AG CEO, Eduard Wünscher says: "Our strategic goal is to expand our international activities continually. We are definitely ready for further growth: we are one of the global market leaders in core business areas, and our product and solution portfolio is highly innovative. With this co-operation, we have laid the foundations for increased development of Asian growth markets."

Daifuku is one of the world's largest suppliers of material handling systems, specialising in pallet and container warehouse systems. Japan is its primary target market, although the company also holds a strong market position in China and has sales and service operations in Germany, UK, Czech Republic, Russia, Sweden, the Philippines and Mexico.

The co-operation - the exact nature of which will be specified in additional contracts - is designed to provide synergies for joint market development and for several product groups, with the two companies emphasizing that they are committed to a lasting co-operation.

With the opportunities for growth in Asia having improved significantly - especially in China - Knapp's managing board is delighted to have moved the group to what it sees as a highly favourable position for developing these markets.

Knapp will also gain access to an extensive complementary product portfolio in pallet handling, which can now be used for Knapp warehouses.