Scott S. Cramer Appointed Vice President, General Counsel and Corporate Secretary for Magnetek
MENOMONEE FALLS, Wis. - March 1, 2010 - Magnetek, Inc. (NYSE:MAG) today announced the appointment of Scott S. Cramer as Vice President, General Counsel and Corporate Secretary. Mr. Cramer will succeed Vice President Legal Affairs and Corporate Secretary, Ms. Jolene Shellman, who is retiring from the Company.
Mr. Cramer has served as general counsel for publicly held firms worldwide, including most recently as Senior Vice President and general Counsel for Bucyrus International, South Milwaukee, Wis. Mr. Cramer’s previous experience includes appointments as Senior Legal Counsel for Regal Beloit Corporation, Beloit, Wis., and as General Counsel and Assistant Secretary for Superior Services, Milwaukee, Wis.
“We are extremely pleased to welcome Scott Cramer as Vice President, General Counsel and Corporate Secretary,” said Magnetek’s Chief Executive Officer, Peter McCormick. “Scott’s extensive and broad-based background, which includes successful execution of mergers, acquisitions, and financial transactions; resolution of complex legal issues; and negotiation of worldwide product sales and distribution issues, will be invaluable to Magnetek as we continue to build and grow our business. I would also like to take this opportunity to thank Ms. Shellman for her years of service to Magnetek, and we wish Jolene all the best in her retirement.”
Mr. Cramer holds a Bachelor of Arts in Political Science from the University of Colorado at Boulder, a Master of Science in International Relations from the London School of Economics and Political Science, and a Juris Doctorate from the University of Houston Law Center.
Magnetek, Inc. is a leading provider of digital power and motion control systems used in overhead material handling, elevator, and energy delivery applications. The Company is North America’s largest supplier of digital drive systems for industrial cranes, hoists and monorails, and provides Energy Engineered™ drives, radio remote controls, motors, and braking and collision avoidance subsystems to North America’s foremost overhead material handling crane builders. Magnetek is also the world’s largest independent builder of highly integrated digital motion control systems for high-rise, high-speed elevators. In energy delivery, the Company develops and markets digital power inverters that connect renewable energy sources to the utility grid, and is a leading independent supplier of digital motion control systems for underground coal mining applications. Magnetek is headquartered in Menomonee Falls, Wis., in the greater Milwaukee area and operates manufacturing facilities in Pittsburgh, Pa., and Canonsburg, Pa., as well as Menomonee Falls. More information about Magnetek is available on its website at www.magnetek.com.
Director, Marketing Communications
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s anticipated financial results for future periods, including the fiscal year ending June 27, 2010.These forward-looking statements are based on the Company’s expectations and are subject to risks and uncertainties that cannot be predicted or quantified and are beyond the Company’s control. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying these forward-looking statements. These include, but are not limited to, economic conditions in general, business conditions in material handling, elevator, mining, communications and alternative energy markets, operating conditions, competitive factors such as pricing and technology, risks associated with acquisitions and divestitures, legal proceedings and the risk that the company’s ultimate costs of doing business exceed present estimates. Other factors that could cause actual results to differ materially from expectations are described in the Company’s reports filed with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934.