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industry. Together, ChemChina and the
KraussMaffei Group will be well positio-
ned for future growth,” added Jianxin
Ren.
Growth to accelerate considerably
“Following Onex’s acquisition in late 2012
KraussMaffei Group has achieved strong
growth and had a very successful year in
2015. As part of ChemChina, we expect
to considerably accelerate our growth
strategy, especially in China and Asia, and
to further strengthen the Company in
Germany and Europe,”
emphasized Stieler. In China, the Com-
pany is expected to benefit in particular
from the trend towards higher quality and
sustainability. The machines and systems
of the three brands - KraussMaffei,
KraussMaffei Berstorff and Netstal - are
especially suited to meet more challenging
customer requirements. As a result of the
transaction, the KraussMaffei Group will be able to accelerate its
planned expansion in China.
Locations remain – increase in jobs planned for Germany in 2016
“Accelerated growth will have a sustained positive impact for
the Company globally. Our Company has a strong foundation
and we will continue to build on our strengths, and create new
jobs around the world,” said Stieler. Our brands KraussMaffei,
KraussMaffei Berstorff and Netstal will always stand for highest
quality and sustainability. The KraussMaffei Group’s headquar-
ters will remain in Munich and the operating and corporate re-
sponsibility for the Company will stay in Europe. This applies in
particular to production, technology, patents as well as research
and development. The KraussMaffei Group will continue to ope-
rate as a German company with a Supervisory Board based on
co-determination. All existing collective agreements and loca-
tion-based commitments will remain unchanged. At present, the
Company has approximately 4,500 employees globally, of which
2,800 are based in Germany. The Company intends to increase
its workforce in 2016, including in Germany.
Works council and IG Metall welcome the change in ownership
The employee representatives and IG Metall welcome the plan-
ned change in ownership. “We consider the transaction as a si-
gnificant opportunity for the KraussMaffei Group and its
employees. We are confident that through further growth the
existing jobs in Germany and Europe will be secured and ex-
panded,” commented Peter Krahl, Chairman of the works coun-
cil of the KraussMaffei Group. IG Metall is also supportive of the
change in ownership. “This change comes at the right time for
the Company and offers a good perspective for further growth,”
said Horst Lischka, Company Representative of IG Metall re-
sponsible for Munich and member of the Chairman’s Commit-
tee of the Supervisory Board of the KraussMaffei Group. “I am
pleased that the German principle of co-determination is also
enjoying greater appreciation abroad as a foundation for su-
stainable corporate success,” he added.
ChemChina focuses on management expertise
as well as on quality and value of the acquired companies
ChemChina is China’s largest chemicals group, having genera-
ted revenues of around €37 billion in 2015 with approximately
140,000 employees, of whom 45,000 are located outside China.
The group operates internationally and has a global expansion
strategy, having acquired or invested in companies in Italy,
France, Norway, the UK and Singapore in the last few years with
the most recent acquisition being the high-end tire manufactu-
rer Pirelli. When it comes to equity investments, ChemChina fo-
cuses on exceptional management expertise as well as the
quality and value of the acquired companies. Following Onex’s
acquisition in 2012 KraussMaffei Group has demonstrated su-
stained improvement in its financial and operational perfor-
mance. In 2014, the Company generated revenues of
approximately €1.1 billion and is expected to achieve year-on-
year revenue growth of approximately 10 percent for 2015. “We
thank Onex for constructively supporting our Company over the
last three years, which has allowed us to achieve record perfor-
mance in 2015 and has positioned the Company well for the
future,” commented Stieler.
“Over the past several years we’ve worked closely with Krauss-
Maffei Group’s management team to improve the performance
of the company, further strengthening its leadership position in
the global plastic and rubber processing industries,” said David
Mansell, a Managing Director of Onex. “We’d like to thank all
of KraussMaffei Group’s employees and management for their
dedication and hard work,” added Mansell.
17 Extrusion International 1/2016
(left to right): Ting Cai, Chairman and CEO of the China National Chemical Equipment
Co. Ltd. (CNCE), Dr. Frank Stieler, CEO of the KraussMaffei Group, and Chen Junwei,
CEO of the ChemChina Finance Co. Ltd