Tennessee Firm Buying Omega Power Systems
Omega Power Systems, a Chatsworth-based manufacturer of high-tech power supplies for telecommunications systems and main frame computers, is being acquired by MagneTek of Nashville, Tenn., for $28 million.
Omega, which had $20 million in sales in fiscal year 1997, will be wholly owned by MagneTek, a high-tech electronics manufacturer that had $1.2 billion in sales last year.
As part of the deal, the company will be renamed MagneTek, Chatsworth.
Avi Bernstein, who retains the title of president of the Chatsworth operation, said no layoffs are anticipated and none of the 200 jobs at the Chatsworth facility will be moved to Nashville.
The products will still carry the Omega brand name.