MAAG Gear AG (Turbo and Marine Gear divisions) Shall Be Sold To RENK AG

Under this newly-formed subsidiary, the existing Maag Gear Winterthur group shall be renamed Renk-Maag GmbH. New and spare products (i.e. Turbogears) sold under the Renk-Maag GmbH name shall be based on original Maag technology and manufacturing techniques. Engineering, design, assembling, and testing operations for these products shall remain in Winterthur Switzerland.

Maag Gear AG continues to focus and expand under Copenhagen-based FLSmidth in the cement and minerals industry.

Artec Machine Systems retains its strong position under this new arrangement.

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