Magnetek receives large order for 2010; Modine to sell Korean subsidiary for $14 million; Oshkosh Corp. picks up another military contract
Magnetek receives large order for 2010
Menomonee Falls-based Magnetek Inc. has received an order to produce more than 1,000 wireless control systems, with a total value of the contract estimated at more than $750,000.
The systems, which incorporate Magnetek’s Enrange Flex Pro transmitters and mobile hydraulic receivers, will be used to remotely control the lifting motion of truck mounted cranes and provide control scheme intelligence. The systems are scheduled for delivery throughout calendar year 2010.
According to Perry Pabich, vice president and general manager of Magnetek’s material handling business, "This order is Magnetek’s first large design project on behalf of a major mobile hydraulic manufacturer and reflects our commitment to becoming a leading provider of wireless control systems to the expanding mobile hydraulic equipment industry."
Magnetek offers wireless controls for mobile hydraulic applications such as tow trucks, cement trucks, boom trucks, truck cranes, concrete mixers, drill rigs, mining equipment and more. Applied to hydraulic equipment, wireless technology provides operators with greater versatility, enhanced safety and improved efficiency.
"With over 100,000 industrial radio control systems operating in overhead material handling and process control applications, Magnetek has a proven track record of product performance," Pabich said. "Now we are leveraging our core wireless control technology to serve the needs of the growing mobile hydraulic industry, an industry that is moving toward more sophisticated control systems."
Modine to sell Korean subsidiary for $14 million
Modine Manufacturing Co., a Racine-based producer of thermal management technology and solutions, has entered into an agreement to sell 100 percent of the shares of Modine Korea LLC, its Korean-based vehicular HVAC business, to KB Synthetics for approximately $14 million.
The sale is expected to close by the end of December and will enable KB Synthetics and its affiliates to expand their product offering of quality parts to the Korean automotive, commercial vehicle and off-highway markets.
Thomas Marry, Modine regional vice president of Asia and commercial products, said, "KB Synthetics is focused on growing their presence in the Korean market with the acquisition of Modine Korea. Modine Korea provides them with a standalone vehicular HVAC research and development, testing, application engineering and manufacturing business. We are committed to the successful completion of the sale process and to a smooth transition of the business thereafter."
Oshkosh Corp. picks up another military contract
Oshkosh Corp. has received an additional $175 million order from the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) to deliver 400 MRAP All Terrain Vehicles (M-ATV). To date, Oshkosh has received six awards valued at $3.3 billion to deliver a total of 6,619 M-ATVs.
Oshkosh has ramped up production to produce 1,000 vehicles per month in December and this new award will extend production into May 2010.
“We are honored to build these M-ATVs that will help save Warfighters’ lives in Afghanistan. Our employees understand the importance of this program,” said Robert G. Bohn, chairman and CEO of Oshkosh. “With world-class manufacturing capabilities, available capacity and a highly skilled workforce, we continue to be prepared to meet the needs of the U.S. Armed Forces for the M-ATV and other programs, however large the order or complex the vehicle.”
