Skip to main content
Sister Publication Links
  • Automotive News
  • Rubber News
  • European Rubber Journal
Subscribe
  • Login
  • Register
  • Subscribe
  • Current Issue
  • BEST PLACES TO WORK
  • News
    • MID YEAR REPORT
    • TIRE MAKERS
    • HUMANITARIAN
    • COMMERCIAL TIRE
    • GOVERNMENT & LAW
    • MERGERS & ACQUISITIONS
    • OBITUARIES
    • OPINION
    • SERVICE ZONE
  • ADAS
  • Data
    • DATA STORE
  • Custom
    • SPONSORED CONTENT
  • Events
    • ASK THE EXPERT
    • LIVESTREAMS
    • WEBINARS
    • SEMA LIVESTREAMS
    • RUBBER NEWS EVENTS
  • Resources
    • ADVERTISE
    • AWARDS
    • CLASSIFIEDS
    • DIRECTORY
    • SHOP FLOOR
    • Best Places to Work
    • BALANCING
    • DEMOUNTING
    • SAFETY
    • TIRE REPAIR
    • TPMS
    • TRAINING
    • VEHICLE LIFTING
    • WHEEL TORQUE
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
May 26, 2016 02:00 AM

KraussMaffei to target tire sector after ChemChina takeover

Shahrzad Pourriahi, Crain News Service
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print
    KraussMaffei photo

    MUNICH, Germany (May 26, 2016) — China National Chemical Corp.'s (ChemChina) acquisition of KraussMaffei Group will allow the German plastics and rubber processing machinery company to expand its activities in the tire machinery market.

    ChemChina, as the company is known, will integrate its rubber machinery and related business with Munich-based KraussMaffei, the Chinese company said recently. ChemChina announced its deal to buy KraussMaffei in January, for $1.01 billion.

    The German group will take the “necessary steps” to initiate that, KraussMaffei CEO Frank Stieler said.

    “We are expanding our existing product portfolio, especially in the field of machines for the production of tires,” Mr. Stieler added.

    ChemChina claims to be the leading rubber and chemical machinery manufacturer in China, providing services to the top 10 global tire manufacturers.

    The transaction, according to Mr. Stieler, will enable KraussMaffei to gain stronger access to the market of the Greater China Region.

    “We intend to accelerate our growth in Asia and particularly in China, which will also strengthen our company both in Germany and in the rest of Europe,” he noted.

    ChemChina Chairman Jianxin Ren said KraussMaffei would become “the principal business entity” in the company's machinery segment.

    “KraussMaffei will instill the robust German Industry 4.0 gene…into ChemChina's advanced manufacturing segment,” Mr. Ren said.

    KraussMaffei will help ChemChina offer integrated systems to its customers, particularly in the emerging markets, he added.

    KraussMaffei Berstorff provides a range of high-performance machines and systems for manufacturing extruded rubber products, including the Berstorff lines of extruders for tire profiles, roller-head systems and cap-strip systems.

    ChemChina's tire machinery portfolio includes internal mixers, vulcanizers, tire-building machines and twin–screw extruders, produced by ChemChina's Yiyang Rubber & Plastics Machinery Group and Guilin Rubber Machinery business units.

    Neither CHemChina nor KraussMaffei commented on what they expect the combined businesses' annual sales/revenue to be.

    This report appeared on the website of European Rubber Journal, a United Kingdom-based sister publication of Tire Business.

    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Tire Business would love to hear from you. Email your letter to Editor Don Detore at [email protected].

    Most Popular
    1
    Fire at Poland plant will cut Goodyear sales by up to $40M
    2
    Canada court rules for Michelin in tire trademark case
    3
    Tire Business ranks the Top 75 Tire Makers of 2023
    4
    FullSpeed hires Laura Sasser to oversee retail stores
    5
    Goodyear tabs distributors for Australia, New Zealand
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Newsletter Center

    Staying current is easy with Tire Business delivered straight to your inbox.

    SUBSCRIBE TODAY

    Subscribe to Tire Business

    SUBSCRIBE
    Connect with Us
    • Facebook
    • LinkedIn
    • Twitter
    • Instagram
    • RSS

    Our Mission

    Tire Business is an award-winning publication dedicated to providing the latest news, data and insights into the tire and automotive service industries.

    Reader Services
    • Staff
    • About Us
    • Site Map
    • Industry Sites
    • Order Reprints
    • Customer Service: 877-320-1716
    Partner Sites
    • Rubber News
    • European Rubber Journal
    • Automotive News
    • Plastics News
    • Urethanes Technology
    RESOURCES
    • Advertise
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Media Guide
    • Editorial Calendar
    • Classified Rates
    • Digital Edition
    • Careers
    • Ad Choices
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • BEST PLACES TO WORK
    • News
      • MID YEAR REPORT
      • TIRE MAKERS
      • HUMANITARIAN
      • COMMERCIAL TIRE
      • GOVERNMENT & LAW
      • MERGERS & ACQUISITIONS
      • OBITUARIES
      • OPINION
      • SERVICE ZONE
    • ADAS
    • Data
      • DATA STORE
    • Custom
      • SPONSORED CONTENT
    • Events
      • ASK THE EXPERT
      • LIVESTREAMS
      • WEBINARS
      • SEMA LIVESTREAMS
      • RUBBER NEWS EVENTS
    • Resources
      • ADVERTISE
      • AWARDS
        • Best Places to Work
      • CLASSIFIEDS
      • DIRECTORY
      • SHOP FLOOR
        • BALANCING
        • DEMOUNTING
        • SAFETY
        • TIRE REPAIR
        • TPMS
        • TRAINING
        • VEHICLE LIFTING
        • WHEEL TORQUE
    • DIGITAL EDITION