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M&A Fives to purchase machining centre supplier MAG Americas

Editor: Eric Culp

The rest of the company is to be sold to Chinese state-owned firm Sinomach, our sources say.

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China’s Sinomach is expected to purchase MAG’s European operations such as this factory for car produciton systems in Göppingen, Germany.
China’s Sinomach is expected to purchase MAG’s European operations such as this factory for car produciton systems in Göppingen, Germany.
(Source: MAG)

France’s Fives, Paris, has entered into a definitive agreement to buy MAG Americas, according to the target company’s parent MAG Group.

MAG Americas supplies high-end machines for processing large, complex parts and composites, and the announcement follows our article about the deal in January. As we also reported, China’s state-owned Sinomach is expected to purchase MAG’s European production operations as well as the company’s automobile business in the United States.

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MAG Group said the Fives deal encompasses several business units including Giddings & Lewis, Cincinnati and Forest-Liné, which specialises in composite processing and large metal cutting machines. MAG Americas employs some 1,000 workers.

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