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Magnetek Establishes Solar Power Distribution Network in Emerging Italian and Spanish Markets

Posted on: Wednesday, 26 April 2006, 15:00 CDT

Magnetek, Inc. (NYSE:MAG) announced today that it has secured distribution agreements for its Aurora(TM) solar photovoltaic (PV) power inverters with channel partners in Italy and Spain valued at more than $3 million in sales during calendar 2006, subject to demand and availability. Italy and Spain each have adopted aggressive incentive programs aimed at installing up to 100-megawatts (MW) of new solar capacity, thus emerging as the fourth and fifth largest potential solar power markets in the world.

In Italy, where Magnetek's European operations are headquartered, the Company has assembled a geographically diverse network of distributors and system integrators, including: DEA (www.deasrl.it); Enerpoint (www.enerpoint.it); Fedi Impainti (www.fedimpianti.it); Leitner (www.leitner-online.it); and Tecnolario (www.tecnolario.it). In Spain Magnetek is working with Solener (www.solener.com) and Ibersolar (www.ibersolar.com).

Magnetek's transformerless 2.0 and 3.6 kilowatt Aurora photovoltaic (PV) inverters recently passed compliance tests qualifying them for connectivity to the utility power grid in Germany and Italy. Indoor as well as outdoor versions of both inverter models passed VDEW and VDE0126 (Germany) and DK5950 (Italy) requirements, expanding the power range of Aurora inverters available for grid-interface installation in Europe.

Listed on the New York Stock Exchange (NYSE:MAG), Magnetek designs and builds digital power products and systems for applications ranging from telecommunications to alternative energy, including power inverters and interfaces for solar PV installations, wind turbines and fuel cells. The Company operates manufacturing and research facilities worldwide and reported total revenue of $242 million for its 2005 fiscal year, ended July 3, 2005.

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding sales of and markets for its products and services, such as power conditioners for alternative energy sources such as solar arrays. These forward-looking statements are subject to a number of risks and uncertainties, many of which cannot be predicted or quantified and are beyond the Company's control. Future events and actual results may differ materially from those set forth in, contemplated by, or underlying these forward-looking statements.

Source: Business Wire

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