KraussMaffei AG of Munich, Germany, has promoted Paul Caprio to president of its U.S. subsidiary, KraussMaffei Corp., with full responsibility for the company's three technologies of injection molding, extrusion and polyurethane processing machines.
Caprio became president of Florence, Ky.-based KraussMaffei Corp. on April 1.
He has held several executive positions covering injection molding machinery since joining the company in 1994.
Caprio was promoted in 2001 from sales and marketing manager to executive vice president.
During that time, KraussMaffei has grown its U.S. market share significantly, the company said.
KraussMaffei officials emphasize the strength from one company offering all three technologies, sometimes combined into a single manufacturing cell.
Naming one executive to supervise injection, extrusion and reaction process machinery makes sense, said Dietmar Straub, chief executive officer and chairman of the German parent company.
We're driving ahead with implementing our 'Technology to the Power of Three' strategy in North America. The appointment of Paul Caprio as president of KraussMaffei Corp. will reinforce our market presence in North America and is giving KraussMaffei a unique selling point in this region, Straub said.
Caprio called the strategy a competitive advantage.
It has to start at the top that everything is looking at all opportunities, he said. It will help spread the opportunity among the company.
KraussMaffei Corp. generates about $150 million in sales annually from the three technologies.