The German KraussMaffei Group has held a groundbreaking ceremony for its new factory in Jiaxing, Zhejiang Province, China. According to KraussMaffei, it is a key strategy of the company to make more investments in the Chinese market.
In August 2018, KraussMaffei signed an investment agreement with the government of Jiaxing Economic and Technological Development Zone, which is at the core of Hangzhou Bay at the Yangtze River Delta, entrusting the government to make a plan on building a new manufacturing factory. The factory (phase I) covers an area of about 85 mu and its production capacity is expected to double by 2020 compared with the existing capacity.
The factory offers injection moulding machines, extruders and reaction injection moulding machines, various manipulators and integrated automatic systems of KraussMaffei, as well as intelligent manufacturing equipments and digital product services and technologies for the rubber and plastics industry. Meanwhile, KraussMaffei will establish its second global base for product research and development to meet the needs of the emerging market segments.
The manufacturing base will be built into the operation centre of KraussMaffei in China and undertake the tasks of scientific & technological research and development, production design and manufacturing, product display, training, supply chain management and strategic procurement, etc. It is expected to significantly drive the upstream and downstream industrial chains, gradually form mature industrial chains in the neighboring markets, get closer to and provide services for such markets as automotive, home appliances, consumer electronics, medical and packaging, and attract moulding and plastic modification companies.
As a leading rubber and plastics processing equipment and system provider, KraussMaffei established a factory in 2005 in Haiyan, China, which mainly produced plastics pipes and profile extrusion equipments at first. Over the past decade, it has gradually grown and set up a complete production system and quick and efficient technological service capabilities covering extrusion, reaction injection moulding and injection moulding, so as to meet the needs of the Chinese and foreign markets.
Since the company was acquired by ChemChina in 2016, KraussMaffei has kept increasing its investments in China and experienced in-depth business integration with the equipment manufacturing enterprises under ChemChina. At the end of 2018, KraussMaffei was listed in China's A-share market and successfully entered the capital market of the country. In the future, KraussMaffei will continue to expand its business operations in Germany, while gradually enhancing its level and production capacity in China, further exploring the markets in China and other developing countries, thereby accelerating its growth on a long and mid-term basis, according to ChemChina.