According to the figures presented today, revenue for the KraussMaffei Group increased 8 percent to €1.37 billion, in 2017, while growth in new orders, at 6 percent, was also solid. Both results were higher than the record achieved in 2016, said Frank Stieler, CEO of the KraussMaffei Group, who pointed to China as the driver for the Group’s performance.
KraussMaffei was acquired by ChemChina in 2016, gaining improved acess to the Chinese market. “Our products in the injection molding and reaction process technology segments in particular benefited greatly from growing Chinese demand”, said Stieler.
Over the longer term, KraussMaffei will continue to focus on digitalization, automation, and regional markets, a focus which will necessarily be accompanied by substantial investment the Group’s machine fleet, IT infrastructure, and software during the current fiscal year. Capital investment of about €67 million is planned for 2018, representing an increase of 81 percent compared to the previous year.
The Group also reported that its previously announced planned stock market listing is currently subject to approval by various authorities and committees in China.