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

Haitian builds system for Renault's new China auto assembly plant

April 24, 2015 11:10 am ET

A late-comer to the world's largest auto market, French carmaker Renault SA is currently building its first factory in China.    More

Image

Court approves Bekum's European reorganization

April 23, 2015 5:04 pm ET

Blow molding machinery maker Bekum Maschinenfabriken GmbH has announced it received court approval for the reorganization plan it proposed in...    More

Image

3-D printing firm MakerBot closing retail shops, cutting jobs

April 23, 2015 10:33 am ET

The 3-D printing pioneer MakerBot is downsizing.    More

Image

Engel, VW working on joint research into high volume composites in auto

April 23, 2015 9:40 am ET

Engel, the Austria-based manufacturer of injection molding machines, is building one of its largest machines for a research center looking into...    More

Billion shows molding cells

April 22, 2015 9:23 am ET

At NPE 2015, French injection press builder Billion SAS showed fully automated multishot molding of two hollow bodies fitted with a TPE seal and four ...    More

Market Reports

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 Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

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

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events