Deal adds hydraulics to Weichai's engine-powertrain portfolio, along with stake in global lift trucks business. Weichai Power Co., Ltd., KION Holding 1 GmbH, along with various subsidiaries of the two companies, have announced the successful completion of their previously announced strategic partnership. This agreement is also the latest in a string of deals in which Chinese companies have bought all, or part of, German and EU industrial manufacturers, such as Sany's acquisition of Putzmeister and Weichai's own acquisition of the French engine manufacturer Moteurs Baudouin S.A. in 2009. Weichai Power is part of China's Shandong Heavy Industry Group, and Germany's KION Group is a manufacturer of industrial trucks and hydraulics. The bottom line of the deal is that Weichai now owns the majority of Linde Hydraulics, as well as a share of Linde's lift trucks business.
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