By Bill Bregar, Plastics News
Munich, Germany - KraussMaffei Group, the plastics and polyurethane machinery maker based in Munich, Germany, generated $358 million in sales for the second quarter of 2013, and $666 million in the first six months, according to a financial report from its private equity parent, Onex Corp.
Toronto-based Onex, which is traded on the Toronto Stock Exchange, released its second quarter results 12 August. The quarter ended 30 June.
Onex completed its $732 million purchase of KraussMaffei in late December 2012
Onex also reported numbers for the cost of sales, which includes the cost of buying raw materials and producing the machinery. According to the Onex financial report, the cost of sales at KraussMaffei was $295 million for the second quarter of 2013 and $548 million for the first six months.
In a conference call, Donald Lewtas, Onex chief financial officer, said the private equity company made six acquisitions over the last 12 months. The company has lots of capital available and no debt, executives said.
