News | August 24, 2000

MagneTek clarifies divestiture statement

Source: MagneTek Inc
MagneTek Lighting Products Group (Nashville, TN) — a manufacturer of magnetic and electronic ballasts and controls — further explains MagneTek Inc's statement issued July 28, 2000.

In May 2000, MagneTek Corporation announced its pursuit of strategic alternatives for its Lighting Products Group in order to focus exclusively on its core power electronics business. The Corporation announced its intent to sell the Lighting Products Group and other electrical components on July 28, 2000. The Lighting Products Group, however, will continue its role in the industry as a manufacturer, developer and supplier of high quality lighting ballasts.

"MagneTek Lighting Products Group continues to be a vibrant, aggressive, growth-oriented and technology-driven business and will continue its role as a leader in the lighting industry," commented Pat Sullivan, Vice President and General Manager of MagneTek Lighting Products Group. "The Lighting Products Group is not `exiting' the ballast business."

The Lighting Products Group will continue to focus its efforts on service, growth, technology and exciting new product innovations for the lighting industry with emphasis on its fifty plus years of experience in the business with its Universal and Triad ballast product lines.

Edited by Jerry R. Borland, P.E.
Managing Editor, EC Online