Smart Molding International 4-2022

13 www.smart-molding.com newsfeed The KraussMaffei Group, one of the world's leading suppliers of cutting- edge technology, digital applications for plastics processing, and recycling techniques, has successfully restruc- tured its external corporate financing. As a result, the financing conditions were significantly improved. Chief Financial Officer Jörg Bremer explains: "The successful refinanc- ing at more favorable conditions and improved credit terms guarantee our company a stable financial foundation for the coming years. This enables KraussMaffei to focus on the future - for example, through further invest- ments in our new and state-of-the-art locations in Parsdorf and Laatzen." The total external financing amounts to around 500 million euros and com- prises three instruments: a multi-year term loan to secure liquidity - par- ticularly for the high investment re- quirements of the new Parsdorf and Laatzen sites - and a revolving credit line that can be drawn down flexibly to cover peaks when needed. In ad- dition, a bilateral credit line has been concluded with several long-standing partners from European banks for the trade finance business. These credit lines cover in particular the necessary guarantees for the increasing demand for KraussMaffei products and the as- sociated growth, especially abroad. The previous financing of the KraussMaffei Group with a total of 14 participating banks has been re- placed by the improved refinancing structure. This further consolidates the long-term security for the com- pany in an overall challenging market environment. KraussMaffei www.kraussmaffei.com On 17 October 2022, Vanessa Malena, previously Chief Operations Officer (COO) of ENGEL Machinery Inc. in York, Pennsylvania, took over as President of the North American headquarters of the Austrian injec- tion moulding machine manufacturer and system solutions supplier ENGEL. Vanessa Malena started at ENGEL North America in 2017 as Key Account Manager and then moved into a Re- gional Vice President of Sales role. She was appointed to the manage- ment board in 2021 as COO responsi- ble for After Sales Support, Engineer- ing, Purchasing and Automation. As President, she will head the manage - ment team of ENGEL Machinery Inc. beginning in mid-October and will continue to strategically develop the subsidiary. She took over from Mark Sankovitch, who will remain Regional President of ENGEL in North America. "We are delighted to be able to fill this important position from our own ranks," emphasised Stefan Engleder, CEO of the ENGEL Group. "Vanessa Malena is a proven expert in the in- jection moulding industry. With her planned change, we are ensuring a seamless transition for both employ- ees and our customers." Vanessa Malena studied mechanical engineering and has held responsible positions in plastics machinery sales for almost 30 years. With the orderly handover by Mark Sankovitch to Vanessa Malena, ENGEL is taking the next step for fur- ther growth in the important North American market. ENGEL www.engelglobal.com KraussMaffei Group completely realigns external corporate financing ENGEL North America with new President KraussMaffei Chief Financial Officer Jörg Bremer (photo: KraussMaffei) Vanessa Malena is President of ENGEL Machinery Inc. in York, Pennsylvania, USA as of 17 October 2022 (photo: ENGEL)