Krauss-Maffei Corp. has sold its 120,000-square-foot building in Florence, and the supplier of injection presses, extruders and polyurethane processing equipment will lease it back from the new owners.
Kentucky Venture LLC and Indianapolis Churchman Holding LLC paid $6.65 million for the industrial building, according to a Cincinnati Enquirer report on commercial property transfers.
``This is just a sale and lease-back and nothing else,'' said Matthias Andreesen, spokesman for Krauss Maffei GmbH at company headquarters in Munich, Germany, in a telephone interview.
Krauss Maffei is owned by Madison Capital Partners, a Chicago investment group.
KM will remain in Florence, Andreesen said.
``Nothing has changed in matters of strategy and supporting us 100 percent. This is just daily business in the industry,'' Andreesen said.