Fives to Acquire MAG Americas
The acquisition will expand Fives’ influence in North America.
Industrial engineering group Fives (Paris, France) has agreed to acquire MAG Americas, a subsidiary of the MAG Group. MAG Americas provides large and complex parts machining solutions and composite processing for the aerospace, oil and gas, mining, agriculture, and off-road-vehicle industries. The 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. The acquisition will enable Fives to grow its business in the North American domestic industrial markets.