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Onex reports KraussMaffei sales in its Q2 report

By: Bill Bregar

August 19, 2013

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.