The KraussMaffei brand has its origins in 1838, when merchant Joseph Anton von Maffei (1790—1870) founded the "Eisenwerk Hirschau" in Munich-Schwabing. Maffei started receiving competition from Georg von Krauss in 1866, who also operated from a location in Munich. Within a few decades, Krauss began to define the international railroad market with his technical innovations. The foundations of KraussMaffei Group emerged when the Krauss plant combined with the Maffei plant around 1930.
The company continuously expanded in the following decades thanks to its diversified portfolio and brought many technical milestones to the market.
You can read more about the development of the company here.