Photo by KraussMaffei Group From left: Ting Cai, Cchairman and CEO China National Chemical Equipment Co. Ltd., Frank Stieler, KraussMaffei and Chen Junwei, CEO of ChemChina Finance Co. Ltd.
KraussMaffei Group says it is manufacturing injection moulding machines at its Haiyan, China, plant in accordance with global quality standards, and there’s growing interest in the presses from American customers.
CEO Frank Stieler said KM was proud to “be able to satisfy those customers” who normally have a higher skepticism of imports from China.
Stieler spoke at an April 24 news conference in Shanghai, in advance of Chinaplas. He also talked about the company’s pending change in ownership. China National Chemical Corp.’s purchase of KM will provide the machinery company “with opportunities the company didn’t have under the previous ownership,” he said.
ChemChina has “access to customers and markets that we do not have access to at the same level. This is not just a match on the private ownership of the companies, but also a match of the economy and the targets of the government here in China,” Stieler said.
“The transaction will allow us to expand our portfolio past just plastic machinery,” he said, pointing specifically to rubber tires as a future direction for the Munich-based company.
ChemChina’s wholly owned subsidiary China National Chemical Equipment already makes rubber equipment, including vulcanizers, mixers and tire machines.
Stieler said the deal will likely close in late April or early May.
Stieler added that manufacturing in China, for China and other markets, is a good move.
“After having seen the current fluctuations in the Chinese market, we believe this allows us to ramp up and grow this factory more independent of turbulence. We believe we will benefit from this concept,” Stieler said.
In 2015, KM grew its business by 9%, with most of the growth in the NAFTA region in the automotive market.
KM is a global plastics machinery company that makes KraussMaffei and Netstal injection presses and Berstorff extrusion technology and polyurethane machinery.
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