Retained MAG Assets Form 5MEMarch 29, 2013
On July 29, Fives (Paris) completed the acquisition of MAG Americas (Erlanger, KY). With the acquisition, Fives became one of the global leaders in high-precision machine tools, used to manufacture large complex equipment 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 productivity 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 removal 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 maintenance excellence. Freedom eWARE, a suite of software focused on manufacturing efficiency that integrates seamlessly into production and business systems, provides full transparency into manufacturing processes such as asset utilization, performance, quality, OEE, in addition to machine health, process health, and energy consumption.
With the sale of the MAG machinery units, 5ME services and products pledge to be “brand agnostic,” allowing solutions to be applied to all types of machinery and manufacturing 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 enterprise’s efficiency (the “E”).