MagneTek Forms Joint Venture to Build Generators in China.NASHVILLE, Tenn.--(BUSINESS WIRE)--Jan. 17, 1996--MagneTek, Inc. (NYSE NYSE See: New York Stock Exchange :MAG) today announced it has formed a joint venture with Fujian Fufa Company Limited (Fufa), Fuzhou, Fujian, People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China, to build electric generators in the Far East. The announcement was made by Brian R. Dundon, president of MagneTek's Motors & Controls group and Chen Guo Xiang Guo Xiang or Kuo Hsiang (died 312, China) Chinese Neo-Daoist philosopher. He was a high government official who adapted and completed another philosopher's unfinished commentary on the writings of Zhuangzi. , chairman of the board and general manager of Fufa. The joint venture will supply generators primarily to Caterpillar Inc. for use in Caterpillar power generation products manufactured in China. MagneTek has been the largest supplier of generators to Caterpillar in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. for more than three decades. The joint venture company, MagneTek Fuzhou Generator Company Limited (MFGC MFGC Missouri Forage and Grassland Council MFGC Minnesota Forage and Grassland Council (St. Paul, MN) MFGC Mammalian Functional Genome Centre MFGC Micromachined Finite Ground Coplanar ), is 55-percent owned by MagneTek, which is providing technical, training and financial support to the venture, with the balance owned by Fufa, which is providing plant, equipment and capitalization to the venture. Fufa is China's largest builder of electric generators, and is the only Chinese generator manufacturer that is publicly held and traded on the Shenzhen (China) Stock Exchange. A leading U.S. manufacturer of Energy Engineered(TM) electrical equipment A piece of electrical equipment is a machine, powered by electricity and usually consists of an enclosure, a variety of electrical components and often a power switch. Examples of Electrical Equipment
CONTACT: MagneTek, Inc., Nashville Robert Murray, 615/316-5270 |
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