ChemChina Agrees to Buy German Machinery Maker KraussMaffei

  • Acquisition of KraussMaffei values co. at about $1 billion
  • ChemChina emerging as one of nation's most acquisitive firms

China National Chemical Corp. agreed to buy German machinery maker KraussMaffei Group from Canada’s largest buyout firm in a deal valued at about $1 billion to help the Chinese state-controlled company upgrade its expertise in manufacturing plastics and rubber.

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