- ChemChina injected its shares in the KraussMaffei Group into its listed majority owned subsidiary (stock exchange symbol “THY”)
- The so called “asset injection” on the Shanghai stock exchange was completed on the 28./29. December 2018
- Dr. Frank Stieler and Dr. Harald Nippel, CEO and CFO of KraussMaffei, will lead the listed company
- The combined business will operate under the brand KraussMaffei
- ChemChina remains majority shareholder of the listed company and thereby also of the KraussMaffei Group
- The company headquarters of the KraussMaffei Group remain in Munich, Germany
- Employee representatives and the German union IG Metall welcome this step