KraussMaffei, once the largest global producer of plastics processing machinery, will substantially increase its Chinese footprint under ChemChina, which acquired the iconic German company last year.
Capacity and employment at an existing plant in Haiyan, China will be increased over the next two years, a KM spokesperson told The Molding Blog.
The GX and MX series injection molding machines and the ZE Performance KM Berstorff twin extruder are now made in Haiyan.
Additionally, tire and rubber manufacturing operations of a sister Chinese company will be integrated at the Haiyan site.
KraussMaffei premiered a locally made GX press at the Chinaplas trade show in Shanghai last April. The company’s emphasis in China is on large machines (400 to 3200 tons of clamping force), avoiding competition with the lower priced Chinese-based machine manufacturers.
The GX series, with a dry cycle time of only 2.3 seconds, is described as the fastest two-platen injection molding machine in Asia, and targets applications in automotive, packaging and medical markets.
Christian Blatt, CEO of the KraussMaffei Group in China, said: “We want to better serve our customers in their partner network, since both mold makers in China as well as end customers of plastics processors are operating on increasingly tight schedules.”
Look for KM to accelerate design changes that make machines simpler to operate and maintain as a result of its growing Chinese presence.
ChemChina’s acquisition of KM helped stabilize the company’s at one-time shaky employment situation in Germany. “The further improved access to the Chinese market will continue to generate growth through which existing jobs in Germany and Europe will be secured”, said Peter Krahl, Chairman of the works council of KraussMaffei. Horst Lischka, Company Representative of the IG Metall responsible for Munich and member of the Chairman’s Committee of the Supervisory Board of KraussMaffei, commented: “Under the new ownership, KraussMaffei is on a clear course. Most recently the 5,000th employee was hired. ChemChina is a reliable partner.”
Global employment grew 350 this year while revenue for fiscal 2016 rose 5 percent to 1.27 billion Euros and are expected to top 1.3 billion Euros in 2017.
Recently, ChemChina placed KM into its Qingdao Tianhua Institute of Chemistry Engineering Co. Ltd. Subsidiary, so that it could be quickly listed on the Shanghai stock exchange, giving the company improved access to Chinese capital.
“KraussMaffei’s business would make up about 85 percent of the listed company”, said CEO Frank Stieler, CEO. KM will still be based in Munich,
The Qingdao Tianhua Institute of Chemistry Engineering Co. Ltd. is currently listed on the Shanghai stock exchange under the ticker symbol 600579.SS. Trading has been halted for the past five months in accordance with Chinese regulation.