Ricardo - MAG Collaboration Aims to Combine World-Class Propulsion System Engineering and Manufacturing
VAN BUREN TWP., Mich., Aug. 7 - Ricardo, Inc. and MAG Manufacturing today announced the signing of a Memorandum of Understanding (MoU) to collaborate on offering cost-effective engineering and manufacturing programs for low to medium volume propulsion systems. The collaboration combines the respective strengths of both companies in technology, innovative powertrain system design and advanced manufacturing tools, systems and processes. In so doing, the two companies are setting a new standard for development and manufacture of components and systems, offering vehicle and powertrain OEM's robust "design through manufacturing" solutions.
Ricardo, Inc., the premier global eco-innovation technology firm, is the North American subsidiary of Ricardo plc, a leader in the development and application of new technologies and a partner to global transportation sector OEMs in the creation of new vehicles, powertrains, controls/electronics and new-energy technologies. The company's expertise ranges from concept design and strategic consulting through to prototype production and manufacturing implementation. Ricardo's skill base represents the state-of-the-art in low emissions and fuel-efficient powertrain technology, and can be best summarized: "Ricardo is Fuel Economy."
MAG Industrial Automation Systems is a multi-national group of machine tool and manufacturing systems companies, which serve a range of sectors including the worldwide transportation sector. A leader in the global metalworking and processing market, MAG has a large portfolio of highly recognized and well-respected machine tool brands including Hueller Hille, Excello, Lamb, Cincinnati and many others. In addition to its impressive breadth of industrial coverage, MAG also has key capabilities in areas such as the machining of compacted graphite iron (CGI), which is being used widely in the design of cylinder blocks for the next generation of high performance automotive diesel and spark ignition engines.
Together, Ricardo and MAG will offer their customers a comprehensive design-through-production solution for production of low to medium volume powertrains systems and components. The MoU signed by Ricardo and MAG provides a collaboration framework within which the two companies will operate to provide this new level of service to powertrain customers in all parts of the world, yet allows the companies to respond flexibly and independently as customer and market requirements may dictate.
Commenting on the announcement of the MoU president of Ricardo, Inc., Dean Harlow, said: "This agreement leverages synergies between two leading companies to the benefit of our shared automotive, commercial/military and off-highway customers. In particular, as the number of OEM vehicle models and propulsion systems has proliferated, the average volume per combination has decreased. Together, we can provide robust and cost-effective concept-to-production solutions for these low to medium volume applications. These products will combine the ultimate in innovative powertrain technology with the latest thinking in manufacturing technology and processes and will be available to OEMs at more competitive prices than from traditional high volume manufacturers."
Paul Leskiw, President of MAG Manufacturing added: "MAG is a leader in the field of automotive component machining and manufacture with a global footprint and a comprehensive range of machine tool and service brands. The combination of our production capabilities, using advanced manufacturing technologies, with Ricardo's skill base in engineering the latest powertrain and vehicle systems will provide an unparalleled level of cost-effective service to worldwide automakers and other transportation sector companies for their increasingly important low to medium volume products."
With technical centers and offices throughout Europe, the US and Asia, Ricardo plc posted sales of $320 million in financial year 2006 and is a constituent of the FTSE techMark 100 index - a group of innovative technology companies listed on the London Stock Exchange. For more information, visit www.ricardo.com.
Source: Ricardo, Inc. and MAG Manufacturing
CONTACT:
Anthony Smith,
Ricardo Media Office,
+44 1273 382710,
media@ricardo.com; or
Jeremy Burne,
NSJ International, Inc,
+1-248-822-3977,
Jbftauto@aol.com
Web site: www.ricardo.com/
