Magnetek Receives Order for Wireless Controls from Mobile Hydraulic Industry Leader
MENOMONEE FALLS, Wis. - December 7, 2009 - Magnetek, Inc. (NYSE: MAG) today announced the receipt of an order for over 1,000 wireless control systems valued at over $750,000. The systems, which incorporate Magnetek’s Enrange™ Flex Pro transmitters and mobile hydraulic receivers, will be used to remotely control the lifting motion of truck mounted cranes and provide control scheme intelligence. The systems are scheduled for delivery throughout calendar year 2010.
According to Perry Pabich, vice president and general manager of the Company’s material handling business, “this order is Magnetek’s first large design project on behalf of a major mobile hydraulic manufacturer and reflects our commitment to becoming a leading provider of wireless control systems to the expanding mobile hydraulic equipment industry.”
Magnetek offers wireless controls for mobile hydraulic applications such as tow trucks, cement trucks, boom trucks, truck cranes, concrete mixers, drill rigs, mining equipment and more. Applied to hydraulic equipment, wireless technology provides operators with greater versatility, enhanced safety and improved efficiency.
“With over 100,000 industrial radio control systems operating in overhead material handling and process control applications, Magnetek has a proven track record of product performance,” states Pabich. “Now we are leveraging our core wireless control technology to serve the needs of the growing mobile hydraulic industry, an industry that is moving toward more sophisticated control systems.”
Magnetek, Inc. is a leading provider of digital power and motion control systems used in overhead material handling, elevator, and energy delivery applications. The Company is North America’s largest supplier of digital drive systems for industrial cranes, hoists and monorails, and provides Energy Engineered™ drives, radio remote controls, motors, and braking and collision avoidance subsystems to North America’s foremost overhead material handling crane builders. Magnetek is also the world’s largest independent builder of highly integrated digital motion control systems for high-rise, high-speed elevators. In energy delivery, the Company develops and markets digital power inverters that connect renewable energy sources to the utility grid, and is a leading independent supplier of digital motion control systems for underground coal mining applications. Magnetek is headquartered in Menomonee Falls, Wis. in the greater Milwaukee area and operates manufacturing facilities in Pittsburgh, Pa., and Canonsburg, Pa., as well as Menomonee Falls.
Director, Marketing Communications
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 anticipated financial results for its fiscal year ending June 27, 2010. These forward-looking statements are based on the Company's expectations and are subject to risks and uncertainties that cannot be predicted or quantified and are beyond the Company's control. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying these forward-looking statements. These include, but are not limited to, economic conditions in general, business conditions in material handling, elevator, mining, and alternative energy markets, operating conditions, competitive factors such as pricing and technology, risks associated with acquisitions and divestitures, legal proceedings and the risk that the Company’s ultimate costs of doing business exceed present estimates. 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.