MUNICH, Germany (July 31)—Siemens A.G. has agreed to sell majority ownership of its Mannesmann Plastics Machinery A.G. business unit—which includes the rubber extruder producer Berstorff GmbH and polyurethane processing equipment maker Krauss-Maffei Kunststofftechnik—to an investment company. New York-based Kohlberg Kravis Roberts & Co. L.P. will pay nearly $1.7 billion for 81-percent control of MPM and five other business units. Altogether the businesses reported sales of more than $3 billion last year. Siemens retains a 19-percent stake in Demag Holding S.A.R.L., a Luxemburg holding company set up to effect the purchase
Siemens includes Berstorff, Krauss -Maffei in sale
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