Investment firm to hold onto Mannesmann Plastics Machinery

FRIEDRICHSHAFEN, Germany (Oct. 23)—Equity investment firm Kohlberg Kravis Roberts & Co. plans to hold onto Mannesmann Plastics Machinery GmbH for five to seven years, then sell it or take it public, KKR officials said recently. Among KKR's holdings are rubber machinery maker Berstorff GmbH and polyurethane processing equipment maker Krauss-Maffei Kunststofftechnik GmbH. KKR said it plans to make acquisitions in injection molding and strengthen cooperation among member companies. Company officials, speaking at the Fakuma 2002 trade show in Friedrichshafen, stressed that KKR wants to protect MPM's "entrepreneurial stability" and will give continued long-term support of the six MPM brands.