ChemChina to list KraussMaffei on Shanghai exchange

Munich, Germany – China National Chemical Corp. (ChemChina) is moving forward with plans to list KraussMaffei Group GmbH on the Shanghai Stock Exchange.

ChemChina bought the Munich-based plastics & rubber processing machinery maker for €925 million in April 2016.

In an 11 Dec news release, ChemChina said KraussMaffei will become a subsidiary of Qingdao Tianhua Institute of Chemistry Engineering Co. Ltd., a Chinese industrial equipment manufacturer that also supplies the tire and rubber industries.

Qingdao Tianhua, a subsidiary of ChemChina, is listed on the Shanghai Stock Exchange and reported…

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