Onex reports KraussMaffei sales in its Q2 report

By Bill Bregar
Senior Staff Reporter

Published: August 19, 2013 8:46 pm ET
Updated: August 19, 2013 8:55 pm ET

Related to this story

Topics Machinery
Companies & Associations KraussMaffei AG

KraussMaffei Group, the plastics machinery maker based in Munich, Germany, generated $358 million in sales for the second quarter of 2013, and $666 million through the first six months, according to a financial report from its private equity parent, Onex Corp.

Toronto-based Onex, which is traded on the Toronto Stock Exchange, released its second quarter results Aug. 12. The quarter ended June 30.

Onex completed its $732 million purchase of KraussMaffei in late December of 2012, so the report does not include any comparative data from the year-ago first or second quarters. Onex has said that KraussMaffei generated sales of about $1.3 billion in its own fiscal year 2012, which had ended June 30 of that year.

KraussMaffei makes plastics machinery.

Onex also reported numbers for the cost of sales, which includes the cost of buying raw materials and producing the machinery. According to the Onex financial report, the cost of sales at KraussMaffei was $295 million for the second quarter of 2013 and $548 million for the first six months.

In a conference call, Donald Lewtas, Onex chief financial officer, said the private equity company made six acquisitions over the last 12 months. The company has lots of capital available and no debt, executives said.

The Onex Partners III fund bought KraussMaffei. The firm has started to raise funds for Onex Partners IV.

Onex also owns plastics machinery maker Davis-Standard LLC.

 


Comments

Onex reports KraussMaffei sales in its Q2 report

By Bill Bregar
Senior Staff Reporter

Published: August 19, 2013 8:46 pm ET
Updated: August 19, 2013 8:55 pm ET

Post Your Comments


Back to story


More stories

Image

Small is beautiful in Nissei's newest press

November 21, 2014 2:14 pm ET

Responding to customer demand for flexibility, Japanese plastics-equipment manufacturer Nissei Plastic Industrial Co. Ltd. is demoing a caster-...    More

Image

Three advancements have driven injection molding technology

November 21, 2014 6:00 am ET

Injection molding technology has made major advances in the last 25 years, from largely a world of shoot-and-ship to doing as much as possible at the ...    More

Image

Renners leaving Sumitomo (SHI) Demag

November 21, 2014 10:01 am ET

Christian Renners is leaving injection molding press manufacturer Sumitomo (SHI) Demag Plastics Machinery GmbH, the company announced Nov. 21.    More

Image

Netstal, Electra Form team up for PET preform partnership

November 20, 2014 3:15 pm ET

The Netstal division of Krauss-Maffei Corp. is teaming up with Electra Form Industries in a partnership to offer PET preform machines and molds as a...    More

Image

High pressure RTM systems moving from Europe to Mexico

November 20, 2014 4:24 pm ET

Engel Holding GmbH's subsidiary in Mexico says it has sold the first high pressure resin transfer machine system (HP-RTM) in the Americas to a Mexican...    More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events