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MAG acquires French aerospace and composite production specialist Forest Liné

05-20-2011 07:38 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: MAG Europe GmbH

/ PR Agency: PRX
Logo MAG Europe

Logo MAG Europe

Publication of a quasi ad hoc news under the Bondm regulations

Göppingen, May 19, 2011 – MAG reinforces its commitment to global technology leadership as a provider of manufacturing solutions for metal cutting and composite machines by acquiring the recognized French Forest Liné Industries Group (FLI). Forest Liné specializes in manufacturing equipment for the aerospace, die and mold industries, large part machining, titanium and composites processing. The company is the technology leader in composite wing and wing box applications and operates sites in France, Germany, China and Canada, employing about 300 staff. Mr. Jean Bertrand Prot will continue as President and CEO of FLI and join the Executive Board of MAG.

The combined company provides MAG and FLI with another significant point of access to aerospace composite technology plus new market and customer segments. As they are lightweight and rigid, composites are widely used throughout the aerospace industry and in renewable energy systems such as wind power generators. MAG enthusiastically looks forward to increasing demand in this area over the next few years. MAG IAS GmbH has been operating a Composites Center for advanced composites applications in Göppingen since 2009, also developing new fiber-cutting technologies for applications in the automotive industry. Within the international MAG Group, US affiliates of MAG IAS GmbH are global leaders in the area of composites technology.

MAG Europe GmbH, with headquarters in Göppingen, is the holding company responsible for MAG Group’s European activities and has acquired 100 percent of shares in the Forest Liné Group. To finance the acquisition, MAG IAS GmbH will give a loan to MAG Europe GmbH at an interest rate above the company’s bond’s rate. To secure the claims derived from the loan, shares in Forest Liné Industries Holding will be pledged to MAG IAS GmbH.

The issuer has provided the following information and explanations in reference to this message:
With regard to statements made about the future: Some statements made in this message refer to the future; such statements are based on assumptions, predictions and estimates on the part of the management of MAG IAS GmbH. Although we assume that the assumptions, predictions and estimates on which the statements referring to the future are based are realistic, we cannot guarantee that these assumptions, predictions and estimates will turn out to be correct in the future. By their nature, assumptions, predictions and estimates are associated with risk and uncertainty, which can mean that actual results differ significantly from the statements made in reference to the future. Some of the factors that can lead to such deviations include: Changes in the economic and commercial environment, fluctuating exchange and interest rates, introduction of competitor products, lack of acceptance of new products or services, and changes in the business strategy. MAG IAS GmbH assumes no special obligations of any kind to update the statements about the future made here and/or to correct and/or to confirm them, or to publish updates/corrections about any statement made about the future which deal with circumstances or announcements that occur after today's date of publication.

About MAG IAS GmbH (ISIN DE000A1H3EY2)
MAG IAS GmbH, headquartered in Göppingen, is part of the global MAG group, a leading provider of manufacturing solutions. It currently operates five production sites in Germany employing about 1600 employees in total.
Since February 2011, MAG IAS GmbH has been listed on the “Bondm” segment of Boerse Stuttgart (stock exchange) and has issued bonds amounting to 50 million euro. The proceeds of the issue will primarily go to finance the growth of MAG, especially towards expanding the areas of aerospace and renewable energies. Additionally, MAG created a new group, Delta 4, whose purpose is to create product optimization, increase overall efficiency and enhance profit to its customers.

Press contacts:

Joachim Jäckl
PR Manager
MAG Europe GmbH
Stuttgarter Straße 50
73033 Göppingen
Tel.: + 49 7161 201 4083
Fax: + 49 7161 201 4120

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