MagneTek signed deal to make motors in Hungary.

MagneTek signed deal to make motors in Hungary Hungary, Hung. Magyarország, officially Republic of Hungary, republic (2005 est. pop. 10,007,000), 35,919 sq mi (93,030 sq km), central Europe.

WEST LOS ANGELES

West Los Angeles, Los Angeles, California, a neighborhood of Los Angeles
West Los Angeles (region), a popularly identified region of Los Angeles, incorporating the neighborhood above

-- MagneTek Inc., a manufacturer of equipment for electric utilities companies, will manufacture motors in Hungary, the company announced.

In a 50-50 joint venture with Egesult Villemosgepgyar of Budapest, Hungary, MagneTek expects to generate $16 million in revenues in the first year of production there.

The company will import and export components to and from Hungary for the venture, said MagneTek President Frank Perna Jr.

MagneTek, a 6-year-old LBO LBO

See: Leveraged buyout

LBO

See leveraged buyout (LBO). company formed from the old Magnetics division of Litton Industries Named after inventor Charles Litton Sr., Litton Industries was a large defense contractor in the United States, bought by the Northrop Grumman Corporation in 2001. Inc., reported 1989 sales of $962 million.

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Publication:	Los Angeles Business Journal
Date:	May 14, 1990
Words:	96
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Topics:	Electric motor industry Contracts

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