ERLANGER, Ky., May 19, 2011 (GLOBE NEWSWIRE) -- MAG reinforces its global technology leadership in metal cutting and composites processing by acquiring the highly respected French company, Forest Liné Industries Group (FLI). Forest Liné specializes in manufacturing systems for aerospace applications, dies/molds, large parts, titanium and composites processing. The company is a technology leader in composite wing and wing box applications, and operates sites in France, Germany, China and Canada, employing about 300. Mr. Jean Bertrand Prot will continue as President and CEO of FLI and join the MAG Executive Board.
"This acquisition gives MAG another significant point of access to aerospace composites technology, manufacturing resources and demonstration facilities, as well as additional market and customer segments," said Dan Janka, President of MAG Global Industrial Systems. "Liné has always been an innovator, and its technology portfolio is highly complementary with our own, so we anticipate a wide range of new opportunities to result from this acquisition."
Like MAG, Liné is a supplier of both automated tape laying and fiber placement systems. Lightweight and rigid composites are widely used throughout the aerospace industry and in renewable energy systems, such as wind turbines. "MAG enthusiastically looks forward to increasing demand in the wind industry over the next few years, and has strongly positioned itself for growth in all segments of renewable energy, as well as the automotive sector, for which we have developed new composites production technology," Janka added.
MAG, through its European business, MAG Europe GmbH, with headquarters in Göppingen, Germany, has acquired 100 percent of the shares in the Forest Liné Group.
About MAG
MAG is a leading machine tool and systems company serving the durable goods industry worldwide with complete manufacturing solutions for metal cutting and composites applications. With a strong foundation based upon renowned brands such as Boehringer, Cincinnati, Cross Hüller, Ex-Cell-O, Fadal, Giddings & Lewis, Hessapp, Honsberg, Hüller Hille and Witzig & Frank, MAG is recognized as the preeminent provider of tailored production solutions based on state-of-the-art technology. Key industrial markets served include aerospace, automotive and truck, heavy equipment, oil and gas, rail, solar energy, wind turbine production and general machining.
With manufacturing and support operations strategically located worldwide, MAG offers comprehensive lines of equipment and technologies including turning, milling, hobbing, grinding, honing, systems integration, composites processing, maintenance, automation and software, tooling and fluids, and core components.
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CONTACT: Mark Logan MAG IAS, LLC 859-534-4883 mark.logan@mag-ias.com or Ray Kemble Kemble & Rude Communications, Inc. 513-871-4042 rkemble@kemblerude.com
