NewsDesk Deals, Openings, Acquisitions, Partnerships, Orders, Expansions, Awards
Unsold MAG Assets Form 5ME O
n July 29, Fives (Paris) completed the acquisition of MAG Americas (Erlanger, KY). With the acquisition, Fives became one of the global leaders in high-preci- sion machine tools, used to manufacture large complex equip- ment and high-performance composite processing machines. On that same day, a new company, 5ME, was formed out of the three business units that MAG Americas did not sell. They are part of a larger vision President Horwarth has for the new company to become an industry leader in providing total pro- ductivity and efficiency solutions to manufacturers of all sizes. The three legs of the new 5ME business include: • Cryogenics. 5ME’s unique multipatented cryogenic machining process is a breakthrough technology that enables higher cutting speeds for increased material re- moval and longer tool life by transmitting liquid nitrogen at -321°F (-196°C) through the spindle/turret and tool body, direct to the cutting edge. The process promises a variety of environmental, production and cost benefits. The technology was instrumental in achieving cost- reduction goals for the F-35 Joint Strike Fighter.
• Productivity Solutions. A comprehensive portfolio of manufacturing consumables such as tooling, tool holders and coolants, as well as process technology solutions ranging from process optimization, work-holding / fixture design, clamping and automation, and turnkey systems. 5ME owns the CYCLO COOL and CYCLO CUT brands.
• Software Solutions for manufacturing and main- tenance excellence. Freedom eWARE, a suite of sofstware focused on manufacturing efficiency that
With the sale of the MAG machinery units, 5ME services and products pledge to be “brand agnostic,” allowing solu- tions to be applied to all types of machinery and manufactur- ing systems. 5ME derives its name from the five critical “M” components it aims to address—man, material, machines, methods and metrics—to improve a manufacturing enter- prise’s efficiency (the “E”).
Pete Tecos, 5ME’s Executive Vice President for Market- ing and Product Strategy, said that the non-machinery part of MAG that was not sold to Fives was growing in strategic importance.
“Our side of the business was not as visible as MAG’s machinery business, but we are well known to leaders such
New company, 5ME, launches with unsold MAG business units: Pledges to help manufacturers maximize efficiency and profits
integrates seamlessly into production and business systems, provides full transparency into manufactur- ing processes such as asset utilization, performance, quality, OEE, in addition to machine health, process health, and energy consumption.
as Caterpillar, Lockheed Martin and others,” Tecos said. “Our eLOG software, for example, has made Caterpillar’s manu- facturing assets, and its production potential, completely transparent in real time to all levels of management, complete with performance metrics.”
October 2013 |
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