news KraussMaffei sold to Onex
Canadian private equity group Onex Corporation is to buy plastics machinery group KraussMaffei from Madison Capital for €568m. The deal is expected to close by the end of March next year. KraussMaffei is a major supplier of injection moulding machinery, owning both the KraussMaffei and Netstal brands. It is also a significant player in the plastics and rubber extrusion and PU processing systems market. The group generated sales of around €1bn in its last financial year and has manufacturing operations in Germany, Switzerland, Slovakia and China. Onex is one of North
America’s longest established private equity firms managing around €14bn of funds. The company’s businesses generate revenues of $34bn. The Canadian company has
a track record in the plastics machinery sector. Current investments include the US extrusion machinery maker
KraussMaffei CEO Jan Siebert
Davis-Standard, which it acquired at the end of 2011. Earlier that year it sold the Canadian injection moulding systems group Husky Interna- tional, which it had bought in 2007. “We’re very pleased to be partnering with Onex given its track record and experience in our industry,” said Jan Siebert, CEO of KraussMaffei. “With Onex’s backing, we intend to strengthen our global presence and build on our success at the high-end of the industry.” Madison Capital acquired
KraussMaffei – then known as Mannesmann Plastics Machinery – in 2006 from former private equity owner KKR. l In a separate move, KraussMaffei said it is relocating its Netstal operation in the US from Massachussetts to the KraussMaffei site at Florence in Kentucky. The company said the brands will continue to operate indepen- dently on the market, with former Netstal USA president Mike Sansoucy becoming general manager for Netstal sales and aftermarket activities in the country. This is the latest in a string
of moves that bring the group’s brands closer together. Earlier this year, KraussMaffei set up a group-wide Injection Moulding Machinery segment under the leadership of Hans Ulrich Golz. Last year it combined the Netstal and KraussMaffei PET preform businesses. ❙
www.kraussmaffei.com ❙
www.onex.com
Solvay ups capacity for PEEK
Solvay has announced a 70% capacity expansion for production of its KetaSpire PEEK (polyetheretherk- etone) and AvaSpire PAEK (polyaryletherketone) polymers at its facility at Panoli in India. Panoli is the company’s
largest production unit for the two polymers, which are used in demanding applications in industries such as automotive, healthcare and electronics. “Solvay is delighted with
the growth of its line of polyketone materials and we are very excited to be adding capacity for this business,” said Augusto Di Donfrancesco, general manager of the company’s global Specialty Polymers business. The expansion will be
completed by the middle of 2013, the company said. ❙
www.solvayplastics.com
Elasto Müller adds TPE line in Germany
Hexpol’s, Elasto Müller Kunststoffe TPE business is expanding capacity with the installation of a sixth line at its plant at Lichtenfels in Germany (pictured). The new twin screw
extrusion line will come on stream early in 2013 and will add 4,600 tonnes of new capacity, taking the total production capacity at the plant to 55,000 tonnes a year. “This project will ensure
www.injectionworld.com
business expansion by increasing capacity to meet growing customer demand
both in our home markets and worldwide,” said Ralph Wokener, president Europe and
Asia at Hexpol Compounding. Hexpol is also currently
installing a new TPE production line at its existing TPE com- pounding facility at Foshan in the Guangzhou region of China. In July, Elasto Müller
Kunststoffe acquired Germa- ny-based European Plastic Sealants (EPS) a manufacturer of specialty sealing com- pounds for the caps and closures market. ❙
www.mueller-kunststoffe.com
October 2012 | INJECTION WORLD 5
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