TPT March 2016

14 / 192

12 March 2016
I NDUS T RY
1-306-791-7557
Visit us in Hall 05 Stand No: 5G15
WE BUILD
CONFIDENCE.
For over 30 years, industry has trusted
Brandt’s team of experts for end-to-end
technical solutions for tube & pipe mills
around the world.
Our comprehensive understanding of plant
operations and automation combined with
world-class manufacturing standards and
proven equipment designs ensures maximum
value throughout the life-cycle of a facility and
total confidence in a job well-done.
That’s Powerful Value. Delivered.
Chinese
chemicals
group to
acquire
KraussMaffei
CHEMICALS group China National
Chemical Corporation (ChemChina)
has agreed to acquire KraussMaffei
Group from Onex Corporation for a cash
enterprise value of €925mn.
The transaction is subject to closing
conditions including customary regula-
tory approvals. The KraussMaffei Group
is a manufacturer of machinery and
systems for producing and processing
plastics and rubber.
The transaction is expected to
accelerate the growth of the company
in light of potential business synergies.
ChemChina will make the acquisition
together with Guoxin International
Investment Corporation and AGIC
Capital.
“With ChemChina, we have found
a strategic and long-term oriented
investor who has been interested in our
company for many years,” said Frank
Stieler, CEO of the KraussMaffei Group.
The company will continue to operate
in its current corporate structure.
ChemChina chairman Jianxin Ren
commented, “We are strengthening our
company with one of the leading global
engineering groups, encompassing a
178-year corporate history. In doing so,
we expect that KraussMaffei Group will
maintain its identity and independence.
We are investing in the company’s strong
management team and its technological
expertise, which we believe will benefit
our Chinese subsidiaries and position
the chemical machinery business of
ChemChina, which builds and sells
equipment for the rubber and chemical
industry, to become a pioneer in
achieving the ‘Made in China 2025’
programme.”
Dr Stieler added that the KraussMaffei
Group’s headquarters will remain in
Munich, Germany, and the operating and
corporate responsibility for the company
will stay in Europe. “This applies to
production, technology, patents as well
as research and development. The
KraussMaffei Group will continue to
operate as a German company with
a supervisory board based on co-
determination. All existing agreements
and location-based commitments will
remain unchanged.
“At present, the company has 4,500
employees globally, of which 2,800 are
based in Germany. The company intends
to increase its workforce in 2016.”
ChemChina – China
Email:
Website:
KraussMaffei Technologies GmbH –
Germany
Website:
(from left) Ting Cai, chairman and CEO of China National Chemical Equipment Co Ltd;
Dr Frank Stieler, CEO of the KraussMaffei Group; and Chen Junwei, CEO of ChemChina
Finance Co Ltd