MUNICH, Germany—German machinery maker KraussMaffei celebrated its 175th anniversary on March 20, and while reflecting on its history, company executives said the firm looks forward to the challenges of the future.
Founded in Munich—where it remains headquartered today—on March 20, 1838, the company makes injection molding machines, extruders and reaction process machinery for plastics and polyurethane parts manufacturing. It has plants in four countries, worldwide sales of nearly $1.3 billion and employs 4,000.
Chief Executive Jan Siebert said the firm can look back on more than a century and a half of leadership in innovative mechanical engineering and has a reputation for high quality and performance for its three brands, KraussMaffei, KraussMaffei Berstoff and Netstal.
The firm is "well equipped to meet the challenges of the future" and increase its presence in growth markets, he said.
Onex Corp. bought the firm recently for $732 million from another private equity firm, Madison Capital Partners of Chicago.