MAG Forms Renewable Energy Business Unit

MAG Industrial Automation Systems, a machine tool and systems company serving the durable goods industry, has launched a renewable energy business unit to design and build automated manufacturing systems for solar panels and wind turbine components.

The new business's operations are based in Schaffhausen, Switzerland, and Hebron, Ky., and are headed by Dr. Siegfried Schmalzried in Europe and Asia and Joe Jones in the Americas.

‘In recent months, we have secured $30 million in contracts, which represents an approximate 30 percent share of our targeted market, putting us on track for our goal to produce 10 percent of MAG's annual revenue,’ notes Jones.

SOURCE: MAG

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