By Bill Bregar, Plastics News Staff
Friedrichshafen, Germany -- KraussMaffei AG, the plastics machinery group that includes KraussMaffei, Netstal and Berstorff brands, reported sales of Euros 1050 million ($1500 million) for its fiscal year ended 30 Sept, an increase of 11 percent from the prior year.
Dietmar Straub, chief executive officer, released the sales numbers 15 Oct, at a news conference during the Fakuma show in Friedrichshafen.
Incoming orders grew about 3 percent, to around Euro 1100 million ($1580 million). Straub said profit levels grew from the prior fiscal year, but he declined to give specific numbers.
The group makes polyurethane processing equipment as well as injection moulding machines and extruders. The diversity of equipment offerings - as well as the ability to combine several processes into one production cell - will help KraussMaffei "maintain its excellent market position," even during the economic slowdown, Straub said.
German press makers overall reported a 7-percent decline in orders from January through June of this year, he said. KraussMaffei is doing better than the total market.
Straub outlined markets around the world for the Munich, Germany-based machinery group.
"The US really started facing a recession last year, and we noticed that in our business," he said. Business also has softened in Western Europe.
Strong business in Russia and eastern Europe more than made up for the US slowdown, Straub said. The company sold several large pipe extrusion lines to the Middle East.
China is also slowing, following the US downturn, he said.