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MENOMONEE FALLS, WI—March
19, 2004—Magnetek today announced the final stage in the reorganization plan for their Mondel Engineering division. Magnetek acquired Mondel Engineering of Mississauga, Ontario, a premier designer and manufacturer of industrial drum and disc brakes serving a variety of material handling applications, in 1999. Magnetek also owns Electromotive Systems and Telemotive Industrial Controls, both companies that design and manufacture control products for the material handling industry. According to Perry Pabich, VP of Sales and Marketing for Magnetek, "Over time Magnetek has worked to leverage the synergies in market and operations between the three companies. We have consolidated the sales forces and are implementing a common operating system to link sales, finance, and operations. "The company announced today the U.S. sales, application, quoting and customer service for Mondel Brakes will now be handled out of the Menomonee Falls Magnetek office. Mondel brakes will also be stocked in Menomonee Falls as part of the company's Quick Ship Program. Previously these functions were handled out of a combination of the Canadian Mondel office and Magnetek's Pittsburgh office.
The Mondel Canada office will continue to handle all Canadian sales, applications and quoting for Mondel products, as well as manufacturing. "We feel that, long term, consolidating the U.S. brake sales, applications, customer service and quoting in one central U.S. location will allow us to better serve our U.S. customer's needs," stated Mr. Pabich. "The divisions share many common customers. Consolidation to one U.S. location allows us to offer our customers one-stop-shopping for all their material handling control needs."
Mondel Engineering, Electromotive Systems and Telemotive Industrial Controls are part of the Magnetek Power Control Sytems division of Magnetek, Inc. (Los Angeles, CA), a leading designer and manufacturer of digital power and control products. Magnetek, Inc. is listed on the New York Stock Exchange (NYSE: MAG) and reported revenues of $201.8 million for its fiscal year ended June 30, 2003. For additional information, visit Magnetek's web site at www.magnetek.com.
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