AMAG to buy 70% stake in Germany's Aircraft Philipp Gruppe

AMAG Austria Metall Ag will acquire a 70% stake in German aerospace and aviation components manufacturer Aircraft Philipp Gruppe (ACP), the Austrian aluminium cast and flat rolled products company said.

The deal is expected to be concluded in late autumn, with ACP to be retained as an entity which will operate and be managed as an independent company. ACP current owner Rolf Philipp will retain a 30% share and be involved in further strategic developments in the aviation sector, the company added.

“AMAG and...

Published

Andrea Hotter

August 17, 2020

14:33 GMT

New York