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POWER-ONE & MAGNETEK Form Strategic Alliance to Market Commercial & Residental Alternative Energy
Power-One, Inc. and Magnetek, Inc. jointly announced an agreement to promote and distribute commercial and residential solar as well as small wind alternative energy inverters. This alliance will allow both companies to drive new growth opportunities and provide superior service and application support to alternative energy customers. By combining Power-One’s state-of-the-art product development and manufacturing capabilities with Magnetek’s well established distribution channels and proven applications and customer support expertise, the alliance will accelerate the availability of highly efficient power inverters to the industry.
Components of the Agreement •Magnetek will have exclusive distribution rights for the Commercial Photovoltaic (Solar) Aurora® product line in North America, and will market them under the Magnetek brand label.
•Magnetek will have non-exclusive distribution rights for Power-One’s Residential Photovoltaic Aurora® product line.
•Magnetek will also have non-exclusive worldwide distribution rights for Power-One’s Aurora® Small Wind Inverter product line.
Bill Yeates, Power-One’s CEO, commented, “We are pleased to be partnering with Magnetek in the area of Alternative Energy inverters. They have been very successful in North America, and have established distribution channels and proven applications expertise to effectively target this geographic market. This is definitely a win-win for both companies. With our products, many of which have the highest efficiencies currently rated by the CEC (California Energy Commission), and Magnetek’s channel to the market, we can together capitalize on this fast-growing market.”
David Reiland, CEO of Magnetek commented, “Magnetek will provide all pre- and post-sales support, areas in which we’ve proven ourselves for over a decade. Combined with Power-One’s expertise in design and production, this will benefit customers by connecting high-volume manufacturing and leading-edge R&D to local market support and applications expertise.”
About Power-One
Power-One products power high-availability infrastructure applications such as: alternative energy, routers, data storage and servers, wireless communications, optical networking, medical diagnostics, railway controls, and semiconductor test equipment. Power-One, with headquarters in Camarillo, CA, has global sales offices and manufacturing and R&D operations in China, the Dominican Republic, Hungary, Ireland, Italy, Slovakia, Switzerland, and the United States. Please visit www.power-one.com for more information.
About Magnetek
Magnetek, Inc. manufactures digital power and motion control systems used in material handling, people moving, wireless communications and energy delivery, including its own line of multi-megawatt E-Force™ large wind power inverters designed and produced for wind turbine manufacturers. The Company is headquartered in Menomonee Falls, WI in the greater Milwaukee area and operates manufacturing facilities in Pittsburgh, PA and Mississauga, Ontario, Canada as well as Menomonee Falls. Magnetek reported revenues of $103.8 million for its 2007 fiscal year ended July 1, 2007. Please visit www.magnetek.com for more information.