Automatic Product Group Creation.

I'm wondering if I can create Product Groups automatically.  My problem is that I have 110 Product groups in Excel and they are assigned to 2500 materials. Now I want to move to have those product groups in SAP. Creating "PROD" material and then assigning them in MC86 is painfull.
Is it possible to do it with LSMW or someting like that? If yes please provide step by step tutorial.
Thanks

sure it is possible with LSMW, is there anything that cannot be loaded with LSMW?
LSMW is well documented:
http://help.sap.com/saphelp_nw70/helpdata/en/4d/455035082e2271e10000009b38f889/frameset.htm

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