Kivnon Logística last month entered bankruptcy as the company attempts to restructure and reformulate the Spanish provider of automated guided vehicles, or AGVs. The Robot Report reached out to the company for more details on the news.
When asked about the cause of the bankruptcy, a company spokesperson said, “The AGV market has experienced notable shifts recently, particularly influenced by challenges in the automotive sector, one of the largest adopters of mobile robotics. This has created a ripple effect, slowing growth in some areas.”
“However, other industries, such as logistics and e-commerce, continue to drive demand as they look for efficient automation solutions to meet increasing operational pressures,” said the Kivnon representative.
According to The AGV Network, the company’s financial statements showed assets of €25 million ($26.4 million U.S.) against liabilities of €20 million ($21.1 million) , with €15 million ($15.8 million) owed to financial institutions.
Kivnon’s headquarters and manufacturing facilities are in Barberà del Vallès, near Barcelona. Despite generating €19 million ($20 million) in revenue in 2023, the company reported pre-tax losses of €800,000 ($845,000).
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Kivnon said it has installed over 6,000 robots worldwide since its founding in 2007, and its portfolio includes 10 different models of AGVs. The vehicles are typically deployed in material handling and logistics applications in manufacturing and warehouses.
The company said it plans to continue support for its installed base.
“Our priority is to ensure continuity for our customers,” said the spokesperson. “The goal is that their production processes remain unaffected, and they can continue their operations seamlessly, regardless of any organizational changes. This commitment will extend with the next company to take the lead.”
The future is still undetermined for Kivnon. However, according to the spokesperson, “there is a binding offer in place, but a window is now open for other companies to submit new proposals.”
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