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MAG IAS GmbH: Fair Friend Group completes acquisition of MAG Group and strengthens position as one of the world's leading machine tool suppliers - Seite 2

wherever they are. With our combined offering both groups will increase
their attractiveness as business partners."

Jimmy Chu, Founder and Chairman of the Fair Friend Group, said: "I am happy
to welcome MAG and its employees to our large family. I am confident that
the integration of MAG into FFG will be beneficial for all of us, and for
our customers and suppliers."

Luigi Maniglio, chairman of FFG Europe, who will also join the MAG
management board, added: "This acquisition is an ideal and complementary
strategic fit for both FFG's machine tool division and MAG. FFG will
strengthen its machine tool offering in the automotive industry and its
footprint in Europe, while MAG Group will increase its access especially to
Asian markets. Now that the transaction has been completed, we can start to
implement the benefits of the combined businesses which will position
itself among the top 3 machine tool makers in the world." Under the
ownership of FFG, the MAG brand will remain unchanged. Maniglio added: "MAG
is a well-known and established brand for machine tools for the automotive
industry, with market-leading technology, loyal customers and excellent
employees. We are glad to add this strong brand to our portfolio and,
together with the MAG team, develop it further under the FFG umbrella."

The parties agreed confidentiality on financial details of the transaction.
FFG has been advised by KPMG (Corporate Finance) and Beiten Burkhardt
(Legal) in course of the transaction. MAG has been advised by Freitag & Co
(Corporate Finance) and P+P Pöllath + Partners
(Legal).

About MAG
MAG is one of the world's largest and technologically most advanced
providers of turnkey production plants and machines for the mechanical
processing of engine and chassis components for the automotive industry.
MAG has approx. 1,500 employees with manufacturing, sales and service
locations in Germany, USA, China, India, Hungary and the UK. MAG expects
revenues of approx. EUR 500 million for fiscal year 2015.
MAG offers machine tools, manufacturing systems, and services including
turning, milling, honing, systems integration, automation & software,
services, retrofit, core components, and e-learning. As full scale
supplier, MAG manufacturing solutions include a comprehensive range of
equipment and technologies, process capability and full turnkey systems.
With an in-depth knowledge of applications and manufacturing requirements,
MAG partners with its customers to continuously reduce their production
costs.
www.mag-ias.com

About Fair Friend Group
The Taiwan based Fair Friend Group is a world leading industrial
conglomerate, generating an annual turnover of USD 3.8 billion (including
MAG Group) with over 80 companies operating in the fields of Machine Tool
Technology, PCB, Industrial Equipment and Green Technology. Founded in 1979
in Taiwan, FFG developed into the largest local machine tool manufacturer
with major brands like Feeler and Leadwell. From 1989, the growth strategy
included international acquisitions in the USA, Italy, Germany, Japan,
South Korea, and Switzerland. The acquisitions included leading
manufacturing technology companies like VDF Boehringer, Hessapp, Honsberg,
Hüller Hille, Ikegai, Jobs, MAG Group, Modul, Pfiffner, Rambaudi, Sachman,
Sigma, Witzig & Frank.

Press Contact:

Joachim Jäckl
[phone]
[e-mail]


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30.11.2015 Dissemination of a Corporate News, transmitted by DGAP - a
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419721 30.11.2015