Corporate press releases

KraussMaffei Group with new strategy
– The KraussMaffei Group expands its business model as well as digital services and products
– Orders and sales above previous year
– Number of employees and apprentices at record level
– Approval procedure for listing on Shanghai Stock Exchange close to completion

(Munich, October 17, 2018) The KraussMaffei Group is repositioning itself. Under the name "Compass", 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. To this end, the new Digital Service Solutions business unit was established in July, and is expected to make a substantial contribution to the Group's sales in the future. The new strategy is initially designed for a period of five years until 2023.

The KraussMaffei Group is thus continuing its growth course. The share of digital services and products, as well as new services such as the "Rent It" machine rental model, will be steadily increased in the coming years. For this purpose the new business unit Digital Service Solutions was established in July. "We are positioning KraussMaffei as a company that is consistently focusing on customer needs in the age of digitization. In the coming years, we will significantly expand our business model and add digital excellence to our high level of mechanical expertise. This means that in future we will not only sell our customers high-quality machines as usual, but also create added value around the machine. We want to provide our customers with excellent service around the globe and around the clock – and make them attractive offers," explains Dr. Frank Stieler, CEO of the KraussMaffei Group.

Positive business development in 2018

A positive development is anticipated for the current financial year. In the first three quarters, incoming orders amounted to 1.05 billion euros. This corresponds to an increase of 2.5 percent compared with the same period in the previous year. Sales amounted to 973 million euros. This corresponds to an increase in sales of 15 million euros or 1.6 percent.

The number of employees has also increased significantly. Today, the Group employs almost 5,500 people (including apprentices) – a record number. Since the end of 2016 alone, 618 new jobs have been created worldwide. This means a 13 percent increase in the number of employees within just under two years. "I am particularly pleased that we are currently qualifying 310 apprentices for their future professional careers - more than ever before," says Dr. Stieler.

Listing procedure on the Shanghai Stock Exchange nearing completion

The planned listing on the Shanghai Stock Exchange is due to be approved this year. The Chinese authorities are currently reviewing the application from KraussMaffei's parent company China National Chemical Corporation. CEO Stieler: "The listing process is going according to plan. We expect the China Securities Regulatory Commission to give the green light in the coming weeks."