NYSE accepts Magnetek’s continued listing plan
Menomonee Falls-based Magnetek Inc. has announced that the New York Stock Exchange has accepted the company’s proposed plan for continued listing. The company’s stock will continue to be listed on the NYSE, pending quarterly reviews to assess progress against the plan. The company has until June 2011 to regain compliance with the NYSE’s continued listing standards.
Magnetek previously received a notice from the NYSE that it was considered "below criteria" because the company’s total average market capitalization over a consecutive 30-day trading period and its most recently reported stockholders’ equity each amounted to less than $50 million.
Magnetek manufactures digital power and motion control systems used in material handling, people moving and energy delivery.
