Munich-based machinery supplier KraussMaffei Group is expanding its portfolio and digital offering with a stake in the German second-hand machinery start-up Gindumac GmbH.
Gindumac took part in KraussMaffei's open house event at KM headquarters in Munich.
KraussMaffei declined to give further details on the size of the investment or the stake acquired in correspondence with PNE.
The German machinery giant said the investment will provide it with the potential to win new customers and enter the second-hand machinery market with digital sales solutions.
Additionally, KraussMaffei is introducing an “old for new" concept, which it expects will benefit its existing costumers.
Under the concept when KraussMaffei customers buy a new machine, Gindumac will guarantee a "fair market price" for their used machine.
According to KraussMaffei, Gindumac is able to evaluate the current market value of any machine within less than 48 hours on the basis of an intelligent data algorithm
“The investment fits very well into our concept of marketing second-hand machinery internationally," said Frank Stieler, CEO of the KraussMaffei Group.
"We are not only expanding our portfolio but are also strengthening our digital platform-based offering and are establishing the right prerequisites for further growth," he added.
KraussMaffei expects to be able to “fully map the life cycle of used plastics processing machinery” through the investment.
KraussMaffei also will expand its offerings by offering rental model for second-hand machinery.
At the 2017 Fakuma show, KraussMaffei rolled out a leasing program for KM and Netstal injection molding machines with up to 300 metric tons of clamping force, saying at that time that the company wanted to look beyond just buying and selling of machines.
Headquartered in Kaiserslautern, Germany, Gindumac was founded in 2016 and is now a leading company in the international used machinery trading market. The name is an acronym that stands for Global Industrial Machinery Cluster. Gindumac operates globally with a wide network of used machinery experts and offices in Germany, Spain and India.