on march 15, german kraussmaffei group (kraussmaffei) held a groundbreaking ceremony for its new factory in jiaxing, zhejiang province.
it is a key move of kraussmaffei, the first german firm that was got listed in china's a-shares market, to give higher priority to and make more investments in the chinese market.
in august of the last year, 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 modern intelligent 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 molding machine, extruder and reaction injection molding machine, 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 so as to meet the needs of the emerging market segments.
the manufacturing base will be built into the operation center 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 molding and plastic modification companies.
as a global leading rubber and plastics processing equipment and system provider, kraussmaffei established a factory in 2005 in haiyan, china, and the factory mainly produced plastics pipes and profile extrusion equipments at its early period. over the past decade, kraussmaffei has gradually grew and set up a complete production system and quick and efficient technological service capabilities covering extrusion, reaction injection molding and injection molding, so as to meet the needs of the chinese and foreign markets.
since it 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 enhance its level and production capacity in china, further explore the markets in china and other developing countries, thereby accelerating its growth on a long and mid-term basis. the commencement of the construction f the new factory in jiaxing is undoubtedly another move of kraussmaffei's strategy in china.
present at the groundbreaking ceremony were leaders of the development zone, high-level executives of kraussmaffei and guests.
