Broetje-Automation Takes Over Composites Division from MAG
This divestiture of the Composites unit completes MAG’s refocusing on its core business in the automotive sector.
MAG IAS GmbH (MAG; Göppingen, Germany) and BA Composites GmbH (Wiefelstede, Germany), a company of the Broetje-Automation group, have signed an agreement on the sale of MAG business unit Composites to BA Composites GmbH. The agreement will become effective after meeting the usual requirements and obtaining approval from the antitrust authorities. It has been agreed not to disclose any details.
With a sales volume of approximately €6 million in 2013 and seven total employees, the Composites business unit represents only a peripheral business area. This sale completes MAG’s refocusing on its core business in the automotive sector.