KraussMaffei Group saw its revenue climb to 8 percent to 1.37 billion euros ($1.68 billion) in 2017, while growth in new orders, at 6 percent, was also solid, the company said in a March 20 news release.
Both sales and orders topped the records KraussMaffei saw in 2016, said CEO Frank Stieler, who pointed to China as the driver for the company's performance.
And to keep up with expected continued growth in 2018, the company will invest about 67 million euros ($82.3 million) in capital investments, including its machine fleet, information technology infrastructure and software.
KraussMaffei was acquired by ChemChina in 2016, gaining improved access to the Chinese market.
"Our products in the injection molding and reaction process technology segments in particular benefited greatly from growing Chinese demand,” Stieler said.
During NPE2018 in Orlando, Fla., KraussMaffei will show its new products at Booth W403.
The Group also reported that its previously announced planned stock market listing is currently subject to approval by various authorities and committees in China.
