MAG Receives Two New Orders Totaling More Than $26 Million for Machine Tools, Tooling and Support Services


Machines Headed for Europe and China to Make Parts for the Energy and Heavy Construction Industries; Two Orders Involve Wide Variety of Machines, Tooling, Engineering Services and Support

ERLANGER, Ky., May 12, 2011 - MAG IAS has received two new orders, valued at more than $26 million, from customers in the energy and heavy construction equipment sectors in Europe and China.

The orders include an array of MAG machine tools, tooling, engineering and support services. The machines will be produced at MAG manufacturing plants in North America and Europe.

A 12-machine order for more than $21-million from an energy sector customer includes horizontal boring mills, vertical and horizontal turning centers and machining centers for a new plant in Europe. The project includes tooling, engineering services, production ramp up support and long-term technical support, reflecting MAG's total solutions approach.

"MAG has been a trusted supplier to manufacturers in core market sectors like heavy construction and traditional and renewable energy for many years," said Mark Logan, Vice President, MAG Business Development & Marketing. "The company has invested heavily in new product development and global manufacturing and support facilities to provide advanced machine tool technology, as well as tooling, value-added services and processing know-how. As a result, the marketplace is responding and we are enjoying unprecedented success in supporting the development and expansion of global manufacturing capacity in all sectors."

The second order is valued at more than $5 million, and includes two MAG FTR 3500 horizontal boring mills (HBM) to be installed at a customer's new facility in China for production of large construction equipment components. The order also includes MAG tooling and support services.

One of MAG's newest products, the FTR 3500 floor-type horizontal boring mill (HBM) is a versatile machine, capable of a full 2 m (6.56 ft) reach inside parts with a ram-supported spindle. This workhorse machine tool is ideal for "heavy metal" milling, as well as precision multi-axis contouring, boring, drilling and tapping on large parts.

For more information about MAG's machine tool and service solutions, please visit www.mag-ias.com.

About MAG

MAG is a leading machine tool and systems company serving the durable goods industry worldwide with complete manufacturing solutions for metal cutting and composites applications. MAG is recognized as the preeminent provider of tailored production solutions based on state-of-the-art technology. Key industrial markets served include aerospace, automotive and truck, heavy equipment, oil and gas, rail, solar energy, wind turbine production and general machining.

With manufacturing and support operations strategically located worldwide, MAG offers comprehensive lines of equipment and technologies including turning, milling, hobbing, grinding, honing, systems integration, composites processing, maintenance, automation and software, tooling and fluids, and core components.

For more information about MAG, please visit: www.mag-ias.com

CONTACT: Linda Kieckhafer

MAG IAS

920 906 2328

linda.kieckhafer@mag-ias.com

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