AMAG to acquire a 70% stake in Aircraft Philipp Group.

AMAG Austria Metall, a supplier of aluminum flat-rolled products, agreed to acquire a 70% stake in Aircraft Philipp Group, a manufacturer of assembly-ready metal parts for the aviation and aerospace industry. Financial terms were not disclosed. “With the acquisition of ACP we are extending the AMAG value chain to the benefit of our customers. For the first time, in addition to rolled, semi-finished products, we are now also offering mechanically processed finished products. Based on a stable ownership structure, the aim is to further expand the joint product portfolio and in the future to also make these offerings available to additional sectors and industries,” Gerald Mayer, AMAG CEO.