P 11 In January 2005, the Magne cs Group of Precision Cast Parts was offered for sale and Arnold was purchased by a private equity firm (Audax Group) and management as a result of the acquisi on of SPS Technologies by Precision Castparts Corpora on. In mid 2005, Arnold acquired total ownership of Jade Magne cs Ltd and integrated it into the Arnold Magne cs Ltd organiza on. The assembly opera ons were relocated to a modern factory and the business was renamed the Precision Assembly Group. This same factory complex became home to the Bonded Magnet Group when Arnold's injec on molding opera ons were relocated there star ng in 2005 and completed in 2006. On February 20, 2007, Arnold Magne c Technologies completed an acquisi on of Precision Magne cs with opera ons in Sheffield, England; Lupfig, Switzerland; and Wayne, New Jersey. The Wayne, New Jersey facility was relocated to Rochester, NY in October 2007. Arnold also closed the Swi Levick facility and merged the alnico business into the Alnico facility in Marengo, IL, the SmCo business and equipment into Lupfig, Switzerland and the remaining business to Walesbar near Sheffield, UK. Arnold Magne c Technologies AG of Lupfig, Switzerland developed a Joint Venture with GQD of Ganzhou, China which produces Samarium Cobalt and other rare earth raw materials and blocks for the Asian market. In 2010, Arnold sold the Powder Cores business to MicroMetals. AML - Shenzhen