Maxcor Completes Purchase of Ex-Cell-O

NEW YORK--Feb. 1, 20067, 2006--Maxcor, Inc. announced today that it has completed the purchase of the global operations of Ex-Cell-O, which includes locations in the U.S.A., U.K., Germany, France and China.

Ex-Cell-O, a producer of machine tools and systems specializing in manufacturing solutions primarily for automotive chassis and powertrain components, will operate as part of Maxcor's MAG Industrial Automation Systems (MAG) business segment. Under MAG, Maxcor operates a group of leading manufacturing solutions companies that ranks in the top five of global machine tool builders.

The acquisition is part of Maxcor's overall strategy to create a premier global engineering, manufacturing and customer service group. More specifically, the addition of Ex-Cell-O will further expand MAG's portfolio of world-class companies providing machines, systems and solutions designed for the global powertrain customer base.

"We are committed to meeting the needs of manufacturers around the world," said Mo Meidar, Chairman and CEO of Maxcor, Inc. "The Ex-Cell-O companies align very well with MAG's powertrain group and enable us to better serve this key market."

About Maxcor, Inc.:

Maxcor, Inc. is an acquisitions and operations management 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.

Notably, Maxcor operates a business unit, MAG Industrial Automation Systems, that provides technology-driven solutions for the global manufacturing base. MAG Industrial Automation Systems companies include Cincinnati Machine, CL Automation, CrossHuller Lamb, Ex-Cell-O, Fadal Machining Centers, Giddings & Lewis Machine Tools, Hessapp, Huller Hille and Witzig & Frank.

About Ex-Cell-O:

Ex-Cell-O is a major producer of machine tools and systems for the global market. In addition to a leading role in the production of automotive chassis and powertrain components, Ex-Cell-O machines and systems are also used in a broad spectrum of industries to manufacture complex, precision parts to exacting quality standards.

Note to Editors: In the text above, there should be an umlaut over the "u" in "CrossHuller" and also over the "u" in "Huller Hille."