MUNICH, GERMANY (July 31, 12:15 p.m. ET) — The extension of KraussMaffei Group's production plant in Slovakia is proceeding faster than planned, and production in the second assembly hall will therefore commence at the end of 2012.
The company, which is rumored to be for sale, announced the progress on the project on July 31.
The German machinery company said the extension of its production plant in China is also going to plan. KraussMaffei is doubling its production capacities at both plants.
The 13,000 square meter (currently 6,600 square meter) plant in Sucany, Slovakia, which only came on stream in autumn 2010, will manufacture reaction processing and part trimming machines and systems, robots, and injection molding machines.
“By extending our production capacities, we want to cater even more in future for the increasing demand for KraussMaffei electric machines”, said Hans Ulrich Golz, president of injection molding machinery.
In China, the existing production area of 12 000 square meters will be increased to around 22 000 square meters by spring 2013. In addition to extending the existing production capacities for reaction process and extrusion machines and systems, the plant in Haiyan will also manufacture injection molding machines for PET applications under the Netstal and KraussMaffei brands.
Bloomberg reported on June 19 that Madison Capital Partners is exploring the sale of KraussMaffei Group, the world's largest manufacturer of plastics equipment. The report cited people familiar with the matter, which the global news service did not identify.