DGAP-News

MAG IAS GmbH: Fair Friend Group completes acquisition of MAG Group and strengthens position as one of the world's leading machine tool suppliers

DGAP-News: MAG IAS GmbH / Key word(s): Mergers & Acquisitions/Strategic
Company Decision
MAG IAS GmbH: Fair Friend Group completes acquisition of MAG Group and
strengthens position as one of the world's leading machine tool suppliers

30.11.2015 / 19:35
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

Fair Friend Group completes acquisition of MAG Group and strengthens
position as one of the world's leading machine tool suppliers

- Closing of transaction completed having received all required
regulatory approvals

- MAG joins one of the largest and fastest growing machine tool groups
and will benefit from FFG's global footprint and financial strength

- Established MAG brand will become one of FFG's key brands in the field
of automotive applications

- FFG's machine tool division to generate annual sales of more than USD
2.3 billion (including MAG Group)

Taipei/Eislingen, November 30, 2015. The international Fair Friend Group
("FFG") and MAG Group today announced that the acquisition of MAG Group by
FFG has been completed, having received all required regulatory approvals.

Taiwan based FFG is a world leading industrial conglomerate operating in
the fields of Machine Tool Technology, PCB (Printed Circuit Board),
Industrial Equipment and Green Technology. With the acquisition of MAG
Group, a leading machine tool manufacturer for the automotive industry,
FFG's machine tool division strengthens its position as one of the premier
global machine tool suppliers. The acquisition is complementary to the
existing portfolio, and will broaden FFG's machine tool offering in the
automotive industry.

FFG's machine tool division covers a large variety of industries, including
Aerospace, Railway, Mould and Die, Electronics, and Automotive. With MAG's
seven production facilities, FFG increases the number of machine tool
factories to 51 across the globe, now covering Taiwan, Germany, Italy,
Hungary, Japan, South Korea, China, Switzerland, India and the USA with a
total of 32 brands. With over 6000 employees, the machine tool division of
FFG, including the MAG Group, generates an annual turnover of more than USD
2.3 billion.

Dr. Reiner Beutel, CEO of MAG, said: 'We are proud to become part of FFG
group, one of the world's leading machine tool groups. MAG will benefit
from the global footprint and financial strength of FFG, while our
customers will benefit from the sharing of know-how and technology between
our companies, increased production capabilities as well as local service