On November 22, 2006, MAG Industrial Automation System (MAG-IAS) announced the signing of an M&A contract for the German Boehringer company under the IWKA Group. The two parties did not disclose the details of the contract. According to the approval of the German antitrust agency Bundeskartellamt, the merger will be completed by the end of 2006. This acquisition is the fourth large-scale merger of MAG-IAS Group in the global manufacturing industry, bringing the number of manufacturing departments under MAG-IAS Group to 16.

Mr. Mo Meidar, Chairman and CEO of MAG-IAS Group, said: "I sincerely welcome Boehringer to join the MAG-IAS family. Boehringer's products complement our production line very well. , Especially enriching the products and capabilities of the powertrain department."

Boehringer is a global supplier of machining equipment with leading technology in crankshaft machining. Including turning technology, turning broaching technology, broaching technology, internal grinding technology, high-speed external grinding technology and other technologies. The acquisition covers Boehringer's factories and offices in four countries (Germany, the United States, Switzerland and Canada). In 2005, Boehringer had sales of approximately 140 million euros.

The acquisition is one of MAG-IAS`s global strategies to build the world`s number one construction machinery manufacturer and customer service team. It follows the acquisition of Cincinnati Lamb, a subsidiary of Unofa Group in April 2005, After the acquisition of ThyssenKrupp Cutting Group in February 2006 and the acquisition of Exero Company under the IWKA Group in February 2006, another major move was taken.

Currently, MAG-IAS` business units include: Cincinnati Automation, Cincinnati USA, Cincinnati UK, Fadao, Giddings Lewis, Hessup, Wheelock, Witsch Frank, Maintenance Technology Company and MAG Powertrain Companies (Klaus Wheeler, Exero and Lamb), etc.

As a group company with the world's leading technology, MAG-IAS can provide comprehensive and complete machining solutions for industries such as automotive, heavy industry, aerospace and general processing.

MAG-IAS mainly serves powertrain users in the automotive industry (it is the main supplier of many automotive industry users, such as: Ford, DaimlerChrysler, General Motors, Volvo) , Hyundai (Hyundai), etc.), and his business also includes providing services for some powertrain and non-powertrain primary and secondary suppliers.

In the heavy industry industry, MAG-IAS and users such as Caterpillar, Cummins, International, etc. complete the processing of diesel engine parts and meet the processing needs of users for other products. .

In the field of aerospace, MAG-IAS has the latest top-level composite materials and metal cutting technology to help users complete the manufacture of large civil and military aircraft. Users include: Boeing, Airbus, Vought ), Alenia, etc.

For the global general processing industry, MAG-IAS has a wide range of metal cutting equipment, from small standard processing centers to large special machine systems.