Orders and sales are up for KraussMaffei Group
The German processing machinery maker is also expanding its business model as well as digital services and products, and introducing a new speed-to-market program for European customers.
October 16, 2018 by Canadian Plastics
This is a busy time for KraussMaffei Group GmbH: the German manufacturer of injection molding machines, machines for plastics extrusion technology, and reaction process machinery is in the middle of an orders and sales boom, is implementing a new business strategy, and has just launched a new speed-to-market program for standard injection molding machines.
In the first three quarters of 2018, incoming orders for the Munich-based company amounted to 1.05 billion euros (US$1.21 billion), which is an increase of 2.5 per cent compared with the same period last year. “Sales amounted to 973 million euros (US$1.12 billion), which corresponds to an increase in sales of 15 million euros or 1.6 per cent,” Dr. Frank Stieler, CEO of the KraussMaffei Group, said in a statement.
The number of employees at the company has also increased significantly. “Today, the Group employs almost 5,500 people (including apprentices) – a record number,” Stieler said. “Since the end of 2016 alone, 618 new jobs have been created worldwide. This means a 13 per cent increase in the number of employees within just under two years.”
Under the name “Compass”, meanwhile, the company has developed a two-pillar strategy. “In addition to classic plastics machinery construction this new strategy aims at intensifying and accelerating the development of digital services and products, as well as new business models,” Stieler said. “We established a new Digital Service Solutions business unit in July, and it’s expected to make a substantial contribution to our sales in the future. The new strategy is initially designed for a period of five years until 2023.”
Finally, for its European customers, KraussMaffei Group has just initiated anew speed-to-tarket program to supplement its recently introduced machine rental program. “The new European stock machine program includes standard injection molding machines of the CX, GX and PX series, which can be delivered immediately ex stock,” Stieler said. “If the model the customer wants is not in stock, our production is designed to build one in a short period of time.”
Together with its Rent-It business model, the speed-to-market program is designed to offer additional benefits, Stieler said. “It allows customers to rent the desired injection molding machine instead of buying it,” he said. “Maintenance and other services are also included in the Rent-It program.”