MAG completes sale of non-automotive business unit

AG supplies advanced technology for world-wide Automotive OEMs and suppliers. Bookings targets for 2013 have been reached.

On December 20th, the sale of MAG IAS GmbH′s Industrial Equipment business unit to the Fair Friend Group was formally completed. 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 (Eislingen, G?ppingen and Rottenburg), Hungary (Kecskemet), USA (Sterling Heights), India (Bangalore) and China (Changchun).

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. MAG will further globalize its structure, strengthen the service and enhance its footprint in China and India. MAG has a strong order book which will provide for profitable growth in 2014.