Austria Metal AG (AMAG) has acquired a majority stake in Aircraft Philipp (ACP), an aerospace parts manufacturer, based in Chiemsee, Germany. 

 

According to AMAG’s media statement on Monday, the move is aimed at integrating ACP’s aluminum and titanium mechanical processing abilities into the former’s business operations. 

 

Gerald Mayer, AMAG’s chief executive officer, indicated that the company is moving toward value-added products to extend its services to the aviation sector. He said that the takeover will expand the joint product portfolio of the organizations and serve additional sectors of the global economy. 

 

ACP will be operated as an independent subsidiary, in close coordination with Rolf Phillip, the sole owner, to develop future strategies for supplying raw material to the aerospace sector. 

 

AMAG is an aluminum recycler, which uses milling by-products such as plate off-cuts and chips from manufacturing industries. The company uses this recycled material to produce flat-rolled and semi-finished products. It shipped 203,000mt of aluminum products in H1 2020 and posted an EBIT profit of €17.6mn ($20.88mn) in the same period. 

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