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KraussMaffei says new owner's access to Chinese market boosts sales

PLASTICS NEWS EUROPE

Equipment maker KraussMaffei Group saw its revenue climb 8 percent to a record 1.37 billion euros 9$1.68 billion) in 2017, with the company crediting Chinese demand for playing a key part in that.

"We succeeded in beating the record we achieved in 2016 for both revenue and new orders," said CEO Frank Stieler. "Improved access to the Chinese market thanks to our owner ChemChina played an important part in this."

KraussMaffei was acquired by ChemChina in 2016, gaining improved access to the Chinese market.

"Our products in the injection molding and reaction process technology segments in particular benefited greatly from growing Chinese demand," Stieler said.

To keep up with expected continued growth in 2018, the company said in a March 20 press release it will invest about 67 million euros ($82.3 million) in capital investments, including its machine fleet, information technology infrastructure and software.

The group said that's an 81 percent increased from 2017. It also said it planned to adapt its products more to take advantage of regional requirements.

The Group also reported that its previously announced planned stock market listing is currently subject to approval by various authorities and committees in China.

 

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