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MAG Industrial Automation Systems Appoints President

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MAG IAS, LLC

Olympic Corporate Center I 3940 Olympic Boulevard, Erlanger, KY, 41018, USA

Original Press Release

MAG Industrial Automation Systems Appoints President

Press release date: May 14, 2007

STERLING HEIGHTS, MI - May 14, 2007 - Global manufacturing system producer MAG Industrial Automation Systems (MAG IAS), Sterling Heights, Michigan, has appointed Dr. Robert Wassmer president. MAG IAS has global revenues of approximately 1.5 billion USD and employs nearly 4,500 worldwide.

Dr. Wassmer comes to MAG IAS from Bombardier Transportation where he was director of the research and development section of the Locomotive & Freight division (July 2000 to January 2003), and then managed Bombardier's bogie division, including facilities in western/eastern Europe, China and India (February 2003 until his move to MAG IAS). Other past experience includes ADTRANZ (later DaimlerChrysler Railsystems), where he helped coordinate international development projects and introduced standardized engineering processes and IT systems. Prior, at Mercedes-Benz, he took part in the buildup of a production facility for the M-Class models.

Wassmer earned his doctorate in mechanical engineering at the University of Karlsruhe (Technical University), with a focus on product engineering.

Through strategic acquisitions since 2005, MAG IAS has assembled a group of premier machine tool companies and respective brands with long-standing, international recognition within the durable goods manufacturing industries. MAG IAS now consists of four groups.

MAG Powertrain (Cross Hüller, Ex-Cell-O and Lamb) supplies mainly to the automotive industry. MAG Advanced Technologies (Cincinnati Machine, Giddings & Lewis, Cincinnati Automation & Test, Hüller Hille and Fadal) develops high performance metalcutting, automation and composite systems primarily for the aerospace, heavy equipment and power generation industries. This group also produces highly-reliable CNC vertical turning centers and machining centers. MAG Special Machines (Boehringer, +FMS+, Hessapp, Witzig & Frank and Turmatic Systems) manufactures horizontal and vertical turning machines, multi-way rotary transfer machines, and multi-station manufacturing systems for highly-precise, high performance applications. MAG Maintenance Technologies is a unique worldwide service/support organization that helps extend equipment life and maximize return on capital investment.

"These long-standing leaders in the machine tool and manufacturing system industry operate independently, yet capitalize together on their combined engineering experience," said Dr. Wassmer. "Joint projects within our group are already benefiting from these synergies." A leading expert in engineering and manufacturing applications, Dr. Wassmer's vision is to expand the MAG IAS organization pragmatically.

About MAG Industrial Automation Systems:

MAG Industrial Automation Systems (MAG IAS), Sterling Heights, MI is a group of leading machine tool and systems companies serving the durable-goods industry, worldwide, with a large portfolio of highly-recognized and well-respected brands. With manufacturing operations on five continents, MAG IAS ranks as a leader in the global metalworking capital equipment market.

For more information on MAG IAS, visit www.mag-ias.com or contact: Mark Logan at 859.534.4883 Mark_Logan@cinmach.com

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