China's leading chemicals group, China National Chemical Corporation (ChemChina), has agreed to acquire the KraussMaffei Group from Onex Corporation. "With ChemChina, we have found a strategic and long-term oriented investor who has been interested in our company for many years," said Frank Stieler, CEO of the KraussMaffei Group. The KraussMaffei Group will continue to operate in its current corporate structure. "We are strengthening our company with one of the leading global engineering groups, encompassing a 178-year corporate history.
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