Magnetek Venture in Hungary: The Los Angeles-based...
From Times Staff and Wire Reports
Magnetek Venture in Hungary: The Los Angeles-based motor manufacturer said it has entered into a joint-venture agreement with the Hungarian firm Egesult Villemosgepgyar for the manufacture and sale of electric motors. The venture, to be known as Magnetek EVIG Kft., will make integral horsepower motors ranging from 1 to 50 horsepower in Hungary for commercial and industrial applications. EVIG’s horsepower motor sales total $12 million annually. First-year revenue from the joint venture is expected to be about $16 million.
