Yaskawa Electric America acquires MagneTek’s drives business unit
Announced Jan. 29, 2001, Yaskawa Electric America Inc. (YEA) has acquired ownership and operation of MagneTek Inc.'s (New Berlin, Wis.) drive products business. This business unit sells, modifies, and services general-purpose and high-performance ac drives, and was a part of MagneTek Drives & Systems group.
Announced Jan. 29, 2001, Yaskawa Electric America Inc. (YEA) has acquired ownership and operation of MagneTek Inc.’s (New Berlin, Wis.) drive products business. This business unit sells, modifies, and services general-purpose and high-performance ac drives, and was a part of MagneTek Drives & Systems group. The move is one of Yaskawa Electric Corp.’s (Tokyo, Japan) strategies to increase global market share of ac inverter drives-one of its three major core businesses. Global market share of 20% is the goal, up from the present level of 13%, according to Yaskawa. AC drives manufactured by YEA are currently sold under the MagneTek name. The acquisition includes MagneTek facilities in New Berlin, plus branch sales/service offices in Los Angeles, Detroit, and Cincinnati. However, sales representation and distribution will remain unchanged.
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