French industrial engineering group, Fives, is acquiring MAG Americas, a global supplier of high performance machining solutions and composite processing.
Article From: 5/6/2013 Production Machining
French industrial engineering group, Fives, is acquiring MAG Americas, a global supplier of high performance machining solutions and composite processing. MAG is a high-profile exhibitor at IMTS and other global manufacturing technology trade shows.
A subsidiary of the MAG Group, MAG Americas specializes in the high-end segment of large and complex parts machining solutions and composite processing. It has a strong presence in many industries, including aerospace, oil and gas, mining, agriculture and off-road vehicles.
“We are enthusiastic about joining Fives because our capabilities, technologies and businesses are complementary, with virtually no overlap,” says Dan Janka, president, MAG Americas. “We are eager to expand our own capabilities and those of Fives with this combination, which will bring extensive advantages and a broader range of solutions to our customers.”
This acquisition encompasses several business units: Giddings & Lewis, Cincinnati and Forest-Liné, specializing in composite processing and large metalcutting machines, as well as a unit dedicated to aftermarket services.