By: Bill Bregar
March 8, 2013
PARIS—Groupe Fives, an industrial engineering company based in Paris, will buy MAG Americas, a global supplier of machining for large composites parts and metal cutting equipment.
MAG Americas makes equipment and machine tools for aerospace, oil and gas, mining, agriculture and off-road vehicles. Its business units include Giddings & Lewis, Cincinnati and Forest-Liné, specializing in composite processing and large metal-cutting, as well as a unit dedicated to aftermarket services. It employs 1,000 people in the United States, France, Canada, China and South Korea.
Fives designs and manufactures process equipment, production lines and aluminum, steel, glass automotive, logistics, cement and energy sectors.
Erlanger, Ky.-based MAG Americas generated $400 million in sales in 2012, 67 percent of from North America.