— By Plasteurope.com staff — 

Chinese chemicals giant Sinochem (Beijing; www.sinochem.com) is delisting the mechanical engineering company KraussMaffei (KM, Munich, Germany; www.kraussmaffei.com) from the stock exchange by converting a shareholder loan into equity.

The transaction, which had already been announced in August 2024, would provide the company with “additional financial resources” worth almost EUR 480 mn, KM announced. The company emphasised that this “formalised process” would have no impact on the operating business with customers or suppliers.

Related: Incoming orders increase for KraussMaffei, but company remains in the red

However, it is still unclear when the conversion of loans into equity will actually take place. With the delisting from the Shanghai stock exchange, KM will also no longer be subject to numerous reporting and disclosure obligations. This is unlikely to increase the transparency of the business figures for outsiders and therefore not make it any easier to assess the company’s economic situation. The mechanical engineering company recently reported a smaller loss for the first half of 2024, but also a decline in revenue. On the plus side, however, incoming orders had risen by almost 5% to EUR 539 mn.