KraussMaffei AG, the plastics machinery group that includes KraussMaffei, Netstal and Berstorff brands, reported sales of 1.05 billion euros ($1.5 billion) for its fiscal year ended Sept. 30, an increase of 11 percent from the prior year.
Dietmar Straub, chief executive officer, released the sales numbers Oct. 15, at a news conference during the Fakuma show in Friedrichshafen.
Incoming orders grew about 3 percent, to around 1.1 billion euros ($1.58 billion).
Straub said profit levels grew from the prior fiscal year, but he declined to give specific numbers.
The group makes injection molding machines, extruders and polyurethane processing equipment. The diversity of equipment offerings — as well as the ability to combine several processes into one production cell — will help KraussMaffei ``maintain its excellent market position,'' even during the economic slowdown, Straub said.
German press makers overall reported a 7 percent decline in orders from January through June of this year, he said. KraussMaffei is doing better than the total market.
Straub outlined markets around the world for the Munich, Germany-based machinery group.
``The U.S. really started facing a recession last year, and we noticed that in our business,'' he said. Business also has softened in Western Europe.
Strong business in Russia and Eastern Europe more than made up for the U.S. slowdown, Straub said. The company sold several large pipe extrusion lines to the Middle East.
China is slowing off, following the U.S. downturn, he said.