MAG targets renewable energy businesses

Machine tool builder MAG Industrial Automation Systems has formed a new bus ines s uni t to target manufacturers of solar panels and wind turbine components. MAG's renewable energy business operations are centered in Schaffhausen, Switzerland, and Hebron, Ky., and are headed by Dr. Siegfried Schmalzried in Europe/Asia and Joe Jones in the Americas. MAG is a holding company for a number of brands of machine tools, including brands, such as Cincinnati, Cross H黮ler, Fadal, Giddings & Lewis, H黮ler Hille, Witzig & Frank, Hessapp, Ex-Cell-O, Honsberg, and Boehringer. "In recent months, we have secured $30 million in contracts, which represent s an approximate 30% share of our targeted market, putting us on track for our goal to produce 10 percent of MAG's annual revenue," Jones stated. "While our business unit is new, MAG itself is already firmly established in the renewable energy sector, having quietly built a worldwide leadership position in automated manufacturing systems for solar panels, not to mention composites processing," he added.Designers Sneakers