OTHER NEWS - Jan. 7, 1994
From Times Staff and Wire Reports
Magnetek Will Restructure, Divest 6 Non-Core Units: The troubled Los Angeles manufacturer of electrical equipment said its board has approved a plan to shed operations that now account for about 29% of its revenue. The restructuring will bring a second-quarter charge of not more than $60 million, the company said. Magnetek Inc., which grew dramatically in large part from sales of energy-efficient fluorescent lighting ballasts, reported a loss of $40.4 million, or $1.65 a share, on sales of $372 million for the second quarter ended Dec. 31, 1992.
