Fives Acquires MAG Americas
Fives entered into a definitive agreement to acquire MAG Americas, a global supplier of high-performance machining solutions and composite processing. A subsidiary of the MAG Group, the company has developed strong relationships within the key industries it serves, including aerospace, oil & gas, mining, agriculture and off-road vehicles. This acquisition encompasses several business units, including Giddings & Lewis and Forest-Liné. The end-markets addressed by MAG Americas offer strong potential for development, notably through an increased use of composite materials. MAG Americas employs approximately 1,000 people in the U.S., Canada, France, China and South Korea and comprises a portfolio of more than 100 patents.