News Release:
December 10, 2007
President and CEO Mr. Anthony Giordano confirmed today that recent negotiations have been concluded with a business unit of MAG-IAS (Industrial Automation Systems) of Sterling Hts Michigan for a complete factory package of technology for Fluid, Filtration and Chip Handling technology.
The plant being constructed in Michigan will manufacture a portion of new engine for General Motors. This system is uniquely designed to incorporate the "Best In-Class" technology from several international vendors and will be integrated to meet MAGs Strategic Manufacturing Partnership objectives Mr. Giordano stated. The multi-million dollar order (Phase One) will bring to this facility a level of performance, cleanliness and life cycle savings the big three have envisioned for their own factories for years, added Mr. Giordano.
By incorporating this innovative technology and harmonizing it around MAG-IAS requirements we look forward to this plant being benchmarked against current designs for years to come, and for the management team at MAG-Manufacturing to enjoy a world class installation.
Contact:
Anthony Giordano
Phone: 312 842 0400
Asset Recovery & Management Group LTD
1900 S. Clark Street Suite 408
Chicago, IL 60616
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