MAG Group to Explore Strategic Options

Erlanger, KY, USA and Göppingen, Germany, March 22, 2012 – The owners of MAG IAS, LLC and MAG Europe GmbH (together the “MAG Group”) have appointed Goldman Sachs to assist in evaluating strategic alternatives for MAG Group, including the potential sale of the group or parts thereof. According to MAG, the global automotive business will remain together as one unit across Europe, the Americas and Asia.

            MAG is a global market leader in the machine tool industry, providing products, services and systems for the aerospace, automotive and truck, heavy equipment, oil and gas, rail, solar energy, wind turbine production and general machining industries.

            For 2011, MAG Group generated revenues of over $1.2 billion and had approximately 3,200 employees at 34 facilities in the USA, Canada, Germany, France, China, India, Russia, UK, Switzerland and Hungary. For more information about MAG, please visit: www.mag-ias.com

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News Source:             Mark Logan                                                                          Jeff Drum (Agency)

                                       MAG IAS, LLC                                                                      Kemble & Rude Communications

                                       859 534 4883                                                                       513 871 4042

                                       mark.logan@mag-ias.com                                                 jdrum@kemblerude.com