MAG, a provider of turnkey production plants and machines for the mechanical processing of engine and chassis components for the automotive industry, includes brands Boehringer, Cross Hüller, Ex-Cell-O, and Lamb. MAG has approximately 1,500 employees with manufacturing, sales and service locations in Germany, the UK (MAG Industrial Automation Systems, Birmingham), USA, China, India and Hungary. It expects to generate €500 million in its 2015 financial year.
With MAG’s seven production facilities, FFG increases the number of machine tool factories to 51 across the globe, now covering Taiwan, Germany, Italy, Hungary, Japan, South Korea, China, Switzerland, India and the USA with a total of 32 brands. With over 6,000 employees, the machine tool division of FFG, including the MAG Group, generates an annual turnover of more than USD 2.3 billion.
Among them is the European FFG Europe group, which consists of Italian brands Jobs, Sachman, Rambaudi and Sigma. A main constituent of this is German subsidiary FFG Werke GmbH: VDF Boehringher (turning), Hessapp (vertical turning), H üller Hille (machining centres), Honsberg (transfer lines), Modul (gear hobbing), Witzig & Frank (rotary transfer machines; multi-spindle machining centres).
In May FFG Group bought Swiss group Pfiffner, the world's leading manufacturer of rotary transfer machines; it is now also subsumed in FFG Werke.
In the UK, FFG Europe and Feeler are represented by Dynamic Machine Tools. Leadwell is represented by Lead Precision Machine Tools; FFG Werke brands by FFG Werke GmbH based in Liverpool.
Dr. Reiner Beutel, CEO of MAG, says: "We are proud to become part of FFG group, one of the world’s leading machine tool groups. MAG will benefit from the global footprint and financial strength of FFG, while our customers will benefit from the sharing of know-how and technology between our companies, increased production capabilities as well as local service wherever they are. With our combined offering both groups will increase their attractiveness as business partners."
Luigi Maniglio, chairman of FFG Europe, who will also join the MAG management board, adds: "This acquisition is an ideal and complementary strategic fit for both FFG’s machine tool division and MAG. FFG will strengthen its machine tool offering in the automotive industry and its footprint in Europe, while MAG Group will increase its access especially to Asian markets. Now that the transaction has been completed, we can start to implement the benefits of the combined businesses which will position itself among the top 3 machine tool makers in the world."
The company says that under FFG ownership, the MAG brand will remain unchanged.
The parties agreed confidentiality on financial details of the transaction.
UPDATED: Corrected UK distributors.
