Fives acquires machine tool company MAG Americas

The French industrial engineering group Fives has acquired MAG Americas, a global supplier of high-performance machining solutions and composite processing.

MAG Americas is a subsidiary of the MAG Group, and enjoys a unique position in the high-end segment of large and complex parts machining solutions and composite processing.

Some of the industries it serves include aerospace, oil and gas, mining, agriculture and off-road vehicles. In 2012, it had a turnover of $400m, with 67 per cent of that generated in North America.

Frédéric Sanchez, Chairman of the Executive Board of Fives, said in a statement, “MAG Americas perfectly matches Fives’ strategy to focus on high value-adding industries, such as aerospace.

“Through this combination, we are also reinforcing our exposure to a well positioned North American industry and opening to new opportunities for development in emerging countries.”

This acquisition encompasses several business units: Giddings & Lewis, Cincinnati and Forest-Liné, specializing in composite processing and large metal cutting machines, as well as a unit dedicated to aftermarket services. It also comprises a portfolio of more than 100 patents.