On 27 July Frank Stieler will become the new CEO of plastics machinery producer KraussMaffei Group (KM, Munich / Germany; www.kraussmaffei.com). He succeeds Jan Siebert, who served as chief executive for the past three years (see Plasteurope.com of 06.10.2011) and is leaving the company at his own request, KM said.

Stieler has more than 20 years of experience in German industrial companies, including at Lurgi, Siemens and Hochtief. Commenting on his appointment, Kurt Kinzius, chairman of KM’s supervisory board, said, “Leveraging his expertise and track record, Stieler will advance the KraussMaffei Group, recognise and accelerate the company’s growth potential and further strengthen its position in international markets.”

KM lifted revenues by 5% year-on-year in 2014 to EUR 1.1 bn, the financial report of majority shareholder Onex (Toronto / Canada; www.onex.com) shows. The figures indicate that KM posted gains across all business segments, with particularly strong growth in the automotive and infrastructure divisions. EBITDA came to EUR 117m.