Canada fund to acquire German chem machinery firm KraussMaffei

26 September 2012 15:36  [Source: ICIS news]

TORONTO (ICIS)--Canadian private equity fund Onex has agreed to acquire Germany-based chemicals and plastics machinery manufacturer KraussMaffei for €568m ($738m), it said on Wednesday.

Munich-based KraussMaffei designs and manufactures machinery and systems for the processing of chemicals, plastics and rubber, with focus on injection moulding, extrusion and reaction processes.

KraussMaffei employs a staff of 4,000 at plants in Germany, Switzerland, Slovakia and China. For the 12 months ended 30 June, the company generated about €1.0bn in revenues.

"We're very pleased to be partnering with Onex given its track record and experience in our industry," said KraussMaffei CEO Jan Siebert.

"With Onex's backing, we intend to strengthen our global presence and build on our success at the high-end of the industry," Siebert added.

($1 = €0.77)


By: Stefan Baumgarten
+1 713 525 2653



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