Chinese group reportedly makes $1.1 billion offer for KraussMaffei

A Chinese group has reportedly made a bid for KraussMaffei, a leading plastics machines manufacturer with main headquarters in Germany. According to an exclusive report by Reuters which cited unnamed sources, the potential buyer is hoping to close the deal with KraussMaffei's owner, Canada's Onex Corp, before the Chinese New Year in early February. But the deal may not work out or another counter offer may appeal more to Onex. Onex has not made any announcement on this matter.

Onex acquired KraussMaffei from Chicago-based Madison Capital Partners in late 2012 in a deal worth  568 million euros. That time, several other Asian companies showed interest to purchase KraussMaffei like ChemChina., Haitian, Sumitomo and Milacron.
 

KraussMaffei provides cross-technology system and process solutions in injection molding machinery, reaction process machinery and automation. As a complete supplier across industries, KraussMaffei is characterized by its individual, modular or standardized products and a wide range of customized services. KraussMaffei combines decades of expertise in the manufacture of plastics machinery with its origins in Munich..

In October 2015 at Fakuma, KraussMaffei reported that its January-June 2015 sales reached  576 million euros, up nearly 11 percent from 521 million euros in the first half of 2014. Based on Onex’s annual report, KraussMaffei reported full year 2014 sales of 1.1 billion euros ($1.47 billion).