KraussMaffei Group for sale?

Germany-based plastics equipment manufacturer KraussMaffei Group is working with investment company Goldman Sachs Group Inc. to find a buyer, according to the Bloomberg global news agency.

KraussMaffei, which employs almost 4,000 workers, may fetch as much as 700 million euros (US$883 million) based on an initial assessment, the Bloomberg report said. The Bloomberg story added that relevant information about KraussMaffei has already been sent out to potential bidders.

Formerly known as MPM Mannesmann Plastics Machinery GmbH, KraussMaffei was sold to Madison Capital Partner in 2006.