Maxcor, Inc. to Acquire Leading Manufacturing Solutions Provider, Cinc

    Business Editors

    NEW YORK--(BUSINESS WIRE)--March 21, 2005--Maxcor, Inc., in partnership with Silver Point Finance, LLC, announced today that it has agreed to purchase the global operations of UNOVA's (NYSE:UNA) Cincinnati Lamb Group. The transaction is expected to close during the next 30 days.
    Cincinnati Lamb, a company formed by the union of Cincinnati Machine and Lamb Technicon (2002), will operate under Maxcor's MAG Industrial Automation Systems business segment. Under the terms of the agreement, the Cincinnati Lamb Group will be purchased for approximately $60 million, subject to closing balance sheet adjustments. The transaction consists of cash, notes, and assumption of certain long term liabilities.
    "Cincinnati Lamb has a long tradition of assisting customers in key manufacturing sectors to achieve higher productivity while driving production costs down," said Mo Meidar, Chairman and CEO, Maxcor, Inc. "Maxcor is dedicated to building on that tradition by utilizing our expertise to foster greater product innovation and development as well as to continue the successful track record of unmatched customer service and product life cycle support."
    For more information, please visit www.maxcorinc.com or call Michael McKee (941) 907-3068 or Greg Vereschagin (212) 400-2661.

    About Maxcor, Inc.

    Maxcor, Inc. is an operations management and acquisitions organization with emphasis on operational improvement and growth strategies. The company has strong expertise in manufacturing, automation, distribution and industrial services. Maxcor and its team of experienced professionals have created value by focusing on quality, performance and customer satisfaction while taking a hands-on approach to achieving goals.

    About Cincinnati Lamb:

    Cincinnati Lamb designs, builds and integrates high-volume and flexible machining as well as stand-alone production equipment for global aerospace, automotive, heavy equipment and general machining markets. The company offers technology-driven solutions that include composites processing equipment, profilers, routers, and five-axis CNC machining centers; horizontal and vertical machining centers and turning centers; and automated assembly and test machines and systems. Additionally, the company provides the manufacturing industry's most comprehensive package of service and support through its PLUS program.
    Cincinnati Lamb is headquartered in Warren, Michigan. Other Operations include Machesney Park, IL; Hebron, KY; Windsor, Canada; Mildenhall, England; Solihull, England; Birmingham, England; Remscheid, Germany; and Asian Operations in China and Korea.

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CONTACT: French & Rogers Nancy Lesinski, 248/641-0044

KEYWORD: WASHINGTON MICHIGAN FLORIDA NEW YORK INDUSTRY KEYWORD: AUTOMOTIVE AEROSPACE/DEFENSE MANUFACTURING MERGERS/ACQ SOURCE: Maxcor, Inc.

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