Record sales and orders for KraussMaffei in 2017
The Munich, Germany-based company said its 2017 revenue was up 8 per cent over 2016, to 1.37 billion euros, while growth in new orders was up 6 per cent.
Processing machinery maker KraussMaffei Group reported record sales and orders in 2017, the company has announced.
In a statement, the Munich, Germany-based company said its 2017 revenue was up 8 per cent over 2016, to 1.37 billion euros (US$1.7 billion), while growth in new orders was up 6 per cent.
Both sales and orders topped the records KraussMaffei set in 2016.
“We succeeded in beating the record we achieved in 2016 for both revenue and new orders,” KraussMaffei Group CEO Frank Stieler said. “Improved access to the Chinese market thanks to our owner ChemChina played an important part in this. Our products in the injection molding and reaction process technology segments in particular benefited greatly from growing Chinese demand. We intend to adapt our product series more to take account of regional requirements.”
KraussMaffei was bought by ChemChina in 2016, gaining improved access to the Chinese market.
KraussMaffei also plans to invest about 67 million euros (US$82 million) in capital investments in 2018, including its machine fleet, information technology infrastructure, and software. “This represents an increase [in capital investments] of 81 per cent compared to the previous year,” Stieler said.
KraussMaffei Group builds and sells processing machinery under the KraussMaffei, KraussMaffei Berstorff and Netstal brands.