Updated: KraussMaffei Group says it is manufacturing injection molding machines at its Haiyan, China, plant in accordance with global quality standards, and there's growing interest in the presses from American customers.
CEO Frank Stieler said KM was proud to “be able to satisfy those customers” who normally have a higher skepticism of imports from China.
Stieler spoke at an April 24 news conference in Shanghai, in advance of Chinaplas. He also talked about the company's change in ownership. China National Chemical Corp.'s purchase of KM will provide the machinery company “with opportunities the company didn't have under the previous ownership,” he said.
ChemChina has “access to customers and markets that we do not have access to at the same level. This is not just a match on the private ownership of the companies, but also a match of the economy and the targets of the government here in China,” Stieler said.
“The transaction will allow us to expand our portfolio past just plastic machinery,” he said, pointing specifically to rubber tires as a future direction for the Munich-based company.
ChemChina's wholly owned subsidiary China National Chemical Equipment Co. Ltd. already makes rubber equipment, including vulcanizers, mixers and tire machines.
ChemChina's purchase of KM from Toronto-based investment firm Onex Corp. closed on April 29.
Stieler added that manufacturing in China, for China and other markets, is a good move.
“After having seen the current fluctuations in the Chinese market, we believe this allows us to ramp up and grow this factory more independent of turbulence. We believe we will benefit from this concept,” Stieler said.
In 2015, KM grew its business by 9 percent, with most of the growth in the NAFTA region in the automotive market.
KM is a global plastics machinery company that makes KraussMaffei and Netstal injection presses and Berstorff extrusion technology and polyurethane machinery.
At K 2016 in Düsseldorf, Germany, KraussMaffei is exhibiting at Hall 15, Booth B27; C24 and D24.