MAG Completes Sale of Non-Automotive Business Unit
MAG has completed the sale of its industrial equipment business unit to the Fair Friend Group and plans to expand further globally.
MAG IAS GmbH (Göppingen, Germany) has completed the sale of its industrial equipment business unit to the Fair Friend Group. The business units included in the sale are locations in Mosbach, Taunusstein, Chemnitz, Offenburg, Witten, as well as the related service business. With the divestiture, MAG will focus on the global automotive and truck OEM supplier business.
MAG develops and produces manufacturing systems and engineers solutions for the Automotive business. Its core technologies include solutions for the machining of engine blocks, cylinder heads and crankshafts. In the future, the customer focus will be expanded towards other powertrain components and automotive suppliers. MAG has operations and production sites in Germany, Hungary, the USA, India and China.
At the EMO show in September, MAG introduced a new breakthrough, patented technology for its new series of crankshaft machines to the market, while at the same time developing new technological features which will reduce energy levels. The new dual spindle SPECHT machines are targeted to cylinder block and head as well as gearboxes and crankshaft. The company will further globalize its structure, strengthen the service and enhance its footprint in China and India and looks forward to growth in the 2014.