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With the acquisition of the GF Machining Solutions Division of Georg Fischer AG, the UNITED GRINDING Group has expanded its portfolio to 15 brands. The new group operates under the name UNITED MACHINING SOLUTIONS and, with total sales of over $1.5 billion, has become one of the largest machine tool manufacturers in the world, the group reported. It retains its headquarters in Bern, Switzerland.

Stephan Nell, CEO of the new group and the UNITED GRINDING Group, said: "There has been a long-standing desire to merge the two companies. Lead shareholders Rosmarie and Martin Ebner expressed their full confidence in this strategically important step within the world of global machine tool manufacturing, authorizing the necessary capital increase to make this vision into reality. It is rare for two companies to complement each other as well as UNITED GRINDING and GF Machining Solutions. This applies not only to our product portfolios, our international alignment and our understanding of quality, but also to the culture and mindset of our employees. I am convinced that we can make a big difference together, for the benefit of our customers."

"It is the best decision we could make," confirmed Ivan Filisetti, CEO of GF Machining Solutions and a member of the new group's Management Board. "Our products do not overlap; they complement each other. This makes integration much easier. And as a Swiss company, we share the same culture with a strong commitment to innovation and digitalization. We will also keep after our goal of being the preferred partner for our customers, always ready with customized solutions and comprehensive expertise-in other words, able to offer much more than just high-end machines. The group helps us with its strong international alignment, employees on site at our customers' premises and our breadth of technological expertise."

In R&D, collaboration is not only beneficial for the company and its customers in the development of innovative solutions. Synergies can also be leveraged with regard to new standards and regulations, which are becoming increasingly important and require machine manufacturers to respond in order to keep their machines fit for the future.

The group will primarily present itself to the outside world through its individual brands.

The two divisions UNITED GRINDING and UNITED MACHINING fall under the umbrella name of the group, UNITED MACHINING SOLUTIONS. UNITED GRINDING includes the brands MÄGERLE, BLOHM, JUNG, STUDER, SCHAUDT, MIKROSA, WALTER, EWAG and IRPD. With their expertise in the technologies of surface and profile grinding, cylindrical grinding, tool machining and additive manufacturing, they continue to offer broad application knowledge, an extensive product portfolio and a distinct range of services for the manufacture of high-precision components.

GF Machining Solutions is a provider of precision engineering and advanced manufacturing technologies for high-precision components and tooling industry. These competencies and technologies will be incorporated into the new group in the UNITED MACHINING division. The group's portfolio will be expanded to include the brands AGIE CHARMILLES, CHARMILLES, MIKRON MILL, LIECHTI, STEP TEC and SYSTEM 3R. This includes machines for high-speed milling, EDM, laser texturing and laser micro-machining. In addition, the division offers state-of-the-art spindles as well as solutions for automation and digitization, backed by global customer and application support.

The management team at UNITED MACHINING SOLUTIONS consists of four people with a long history in the respective companies: Stephan Nell, Ivan Filisetti, Michael Horn and Heinz Poklekowski. Stephan Nell, CEO of the UNITED GRINDING Group, has spent 22 years within the group. He now takes over as Chairman of the Management Board and strategic leadership for Sales and Customer Care. Ivan Filisetti, President of GF Machining Solutions and affiliated with the company for 23 years, is responsible for establishing the long-term vision of the new group's technology area and remains CEO of UNITED MACHINING. Michael Horn, who is responsible for Operations and IT, brings his many years of experience in machine tool engineering and most recently as a member of the board of DMG MORI AG to the new group. Heinz Poklekowski, who has been a group member for 35 years, his most recent role being CFO for the UNITED GRINDING Group, will assume responsibility for Finance and Group Services.

For more information contact:

UNITED GRINDING North America Inc.

2100 UNITED GRINDING Blvd.

Miamisburg, OH 45342

937-859-1975

info@grinding.com

UNITED MACHINING

560 Bond St.

Lincolnshire, IL 60069

800-282-1336