Magnetek: Distribution in China

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 Magnetek, Inc. announced that it is expanding international distribution of its radio control products in China. The Company has signed a distribution agreement with Beijing Asiastars Electronic Technologies Co., LTD (AET). Under terms of the agreement, AET will serve as the exclusive distributor of Magnetek’s radio control products to the material handling and mobile hydraulic industries in the People’s Republic of China. Founded in 2005 and headquartered in Beijing, China, AET supplies electronic technology to material handling and mobile hydraulic equipment manufacturers and end users through its network of sales offices and resellers. Magnetek and AET will introduce Magnetek’s radio control products to the Chinese marketplace at Bauma China, the International Trade Fair for Construction Machinery, Building Material Machines, Construction Vehicles and Equipment, taking place Nov. 27-30, 2012 in the Shanghai New International Expo Centre (SNIEC).
“We are extremely pleased to announce this international distribution agreement with AET. We believe radio control products provide an important growth opportunity for Magnetek, and expansion of our distribution channel to reach new customers outside North America is a key strategic growth initiative,” said Peter McCormick, president and chief executive officer for Magnetek. “This fast-growing market provides significant opportunity as Chinese manufacturers recognize the benefits of using radio control to improve productivity and safety.”
About Magnetek
Magnetek, Inc. provides 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. Magnetek provides Energy Engineered® drives, radio remote controls, motors, and braking and collision avoidance subsystems to North America’s foremost overhead material handling crane builders. The Company is also the world’s largest independent builder of highly integrated digital motion control systems for high-rise, high-speed elevators. In energy delivery, Magnetek 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 Bridgeville, Pa., as well as Menomonee Falls.
Contact:
Magnetek, Inc.
Marty Schwenner
Chief Financial Officer
mschwenner@magnetek.com (Link entfernt)
262.703.4282
or
Lynn Bostrom
Director, Communications
lbostrom@magnetek.com (Link entfernt)
262.252.2903
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