Machine Tools FFG takes over MAG Group
Taiwan/Germany - With the acquisition of MAG Group, the international Fair Friend Group (FFG) will become one of the largest machine tool companies in the world.
The international Fair Friend Group and the shareholders of MAG Group have signed a notarised agreement regarding the acquisition of MAG Group, including 100% of the shares of MAG IAS GmbH, by FFG. The agreement became effective as of 17 June 17 2015.
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According to the the companies, signing of the relevant documentation between FFG and the shareholders of MAG Group is planned before August, closing of the transaction is expected before October 2015. The companies intend to present their combined offering together at the EMO trade fair in Milano in October.