The machinery firm reported sales up 18% in the first half

The machinery firm reported sales up 18% in the first half

Krauss-Maffei has grown its plastics machinery business sales 18% to E283m during the first six months of its financial year, compared with the same period last year, a rate said to exceed the German industry average.

Spokesman for the board Josef Mдrtl said yesterday KM’s plastics machinery business turnover should break records in the full financial year ending 30 September. Among its activities in injection moulding, extrusion and reaction technology machinery, it was the latter that stood out with an exceptionally high 72% growth of incoming orders, compared with the same period last year, amounting to E58m.

The incoming orders for reaction machinery came mainly from Eastern Europe, the UK and the USA. The growth has come from the automotive industry, where KM has a well established position, and the electric white goods industry, where it has been more active since acquisition of Elastogran’s machinery business in 2002.

Injection moulding machinery, KM’s most important business representing 70% of its turnover, achieved 19% growth in order intake to E196m on account of strong demand for large machines from the automotive industry and complete production cells.

Injection moulding machinery sales rose 24% to E213m. Mдrtl told PRW.com the newly acquired Neureder automation business had contributed E25m to the sales.