Magnetek, 2 Soviet Firms to Sell Large Generators and Turbines
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A Los Angeles company that makes equipment for dams and other electrical power-generating facilities has entered into a joint venture with two Soviet companies to market large Soviet-built generators and turbines in the United States.
Magnetek Inc. is the No. 1 builder of medium-power transformers in the United States, but does not manufacture the industry’s biggest power devices--generators and turbines.
For those, it has hooked up with Electrosila and Leningradsky Metallichesky Zavod, both of Leningrad. Electrosila is the Soviet Union’s largest maker of generators and LMZ the largest maker of turbines.
Magnetek will own 51% of the joint venture with the Soviet companies, which will be called Magnetek Power Inc.
Although it does not make large power-generating devices, Magnetek repairs and rebuilds them. It also is the No. 3 maker of electric motors in the United States.
Magnetek, which has 16,000 employees worldwide, earned $33.23 million on sales of $1.1 billion last year.
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