For More Information Contact
Magnetek
Ed Butte
VP, Strategic Initiatives
262/252-2905
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FOR
IMMEDIATE RELEASE
Magnetek Relocating Telecom Power Systems Operations to
Wisconsin
Menomonee Falls, WI December 19, 2006 – Magnetek, Inc. (NYSE: MAG) today announced it is in the
process of moving its Telecom Power Systems production and
engineering from Dallas, TX to the Company’s headquarters and
largest manufacturing center, located in Menomonee Falls, WI.
The Company has secured 44,000 square feet, with an option to
lease an additional 30,000 square feet to support future
expansion, in a facility near its Menomonee Falls headquarters.
The majority of the leased space will house manufacturing for
the Telecom Power Systems business, as well as administrative
offices. Magnetek has already begun producing power systems at
the new Menomonee Falls facility, having shipped its first 40
remote battery back-up power systems for wireless communications
sites.
The relocation of the Company’s entire Telecom Power Systems
production operations will be completed by the end of January,
2007. A staff of approximately 15 Magnetek Telecom Power Systems
sales and support personnel will remain in the Dallas area,
relocating to new offices.
The previously announced relocation of Magnetek’s corporate
headquarters and the move of its Telecom Power Systems
production and engineering operations to Menomonee Falls is
expected to bring an additional 60 employment opportunities to
the Greater Milwaukee area, according to Peter McCormick,
Magnetek’s Executive Vice President and Chief Operating Officer.
Magnetek manufactures digital power and motion control systems
used in the material handling, people moving, mining,
alternative energy, and communications industries. In addition
to Menomonee Falls, Magnetek operates manufacturing plants in
Pittsburgh, PA and Mississauga, Ontario, Canada. Listed on the
New York Stock Exchange (NYSE: MAG), Magnetek currently employs
approximately 300 people in the Milwaukee area. The Company
reported revenue of $83.1 million for its 2006 fiscal year,
ended on July 2, 2006(a).
(a) Magnetek's fiscal quarters end on the Sundays nearest
September 30, December 31, March 31 and June 30.
-30- This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements regarding the Company's expectations
regarding sales of and markets for its products and services.
These forward-looking statements are subject to a number of
risks and uncertainties, many of which cannot be predicted or
quantified and are beyond the Company's control. Future events
and actual results may differ materially from those set forth
in, contemplated by, or underlying these forward-looking
statements. Other factors that could cause actual results to
differ materially from expectations are described in the
Company's reports filed with the Securities and Exchange
Commission pursuant to the Securities Exchange Act of 1934.
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