The German daily newspaper Financial Times Deutschland reported on July 7 that investment bank Goldman Sachs Group Inc. is preparing plastics machinery producer Krauss-Maffei AG for an initial public offering.
The newspaper reported that there is a possibility that an IPO for the Munich, Germany-based firm will happen in 2008, quoting a source saying ``the project is lying on ice now; we will look at it again after the summer break.''
Krauss-Maffei corporate communication manager Matthias Andreesen declined to comment. Financial Times Deutschland reported that KM's present owner, investment company Madison Capital Partners in Chicago, had also declined to comment.
The newest reports follow a similar story from Frankfurter Allgemeine Zeitung newspaper in January. The FTD report said the IPO had been delayed by the poor stock market climate.
A source quoted by the FTD also referred to the unsure position of the German machinery industry, with ``signs of years of boom now weakening.''