TORONTO (Sept. 26, 2012)—Canadian investment firm Onex Corp. has bought rubber and plastic processing equipment maker KraussMaffei A.G. for about $730 million. The transaction is due to be completed by March 31, 2013, subject to approvals.
KraussMaffei of Munich, Germany, designs and manufactures machinery and systems for the processing of plastics and rubber. The company makes machinery for the injection molding, extrusion and reaction process segments. Its rubber arm, KraussMaffei Berstorff, is based in Hanover, Germany.
KraussMaffei employs about 4,000 and operates key manufacturing facilities in Germany, Switzerland, Slovakia and China.