Magnetek, Inc. manufactures power control products and systems for communications, data processing, industrial automation, consumer products, transportation, alternative energy, utility grid monitoring and other applications requiring highly reliable, precise, energy-efficient power.
Los Angeles, April 26, 2005 ─ Magnetek, Inc. (NYSE: MAG), a leading manufacturer of digital power supplies and systems, today announced the election of Stephen R. Torres as Executive Vice President of the Corporation. According to Magnetek's Chairman, Andrew Galef, Mr. Torres will be responsible for strategizing and guiding the development of the Company's newly formed Alternative Energy business group as its President & General Manager.
Mr. Torres, 40, comes to Magnetek from FuelCell Energy, Inc. (Nasdaq: FCEL), Danbury, CT, where he served as Vice President, responsible for marketing, project development, application resource allocation/deployment, financing, equipment and service contract negotiations, site construction and equipment installation and commissioning activities since 2001. Before that, he was director of business development, channel management and Latin America marketing for Capstone Turbine Corporation (Nasdaq: CPST), Chatsworth, CA for three years, prior to which he was Manager, Manufacturing Practice, with Deloitte Consulting Group for five years, focusing on marketing, supply chain processes and operations improvement. Previously, he served in brand management and technical sales with Procter & Gamble and General Electric.
Mr. Torres holds an MBA from UCLA's Anderson Graduate School of Management (1994), a Bachelor of Science Degree in Mechanical Engineering from the University of Washington (1987), and is a graduate of General Electric's Technical Sales & Marketing Program.
"We are delighted to welcome Stephen to Magnetek," Mr. Galef said. "He brings to the Company breadth of experience plus specific knowledge of emerging international energy markets -- a unique combination indeed. These attributes will be critical in order to capitalize on what we believe to be one of Magnetek's greatest growth opportunities, based on present and projected growth rates in alternative energy markets and proprietary power conversion products that we are now introducing for solar and wind power markets."
Magnetek's Alternative Energy Group builds power conditioners for renewable energy sources, such as solar and wind, as well as auxiliary and back-up power units. Its products include: 2.0-to-3.6 kilowatt Aurora' solar power inverters for grid-tied, residential applications; 4.6-kilowatt MWI' multimode inverters for stand-alone and grid-tied wind generators; and for commercial wind farms its modular 625-kilowatt Marin' power converters that can be installed in "clusters" to accommodate utility-scale wind turbines.
During the past decade, Magnetek has designed and built power conditioners up to 375 kilowatts for some 160 commercial fuel cell installations totaling over 32 megawatts, making it the world's leading supplier of power conditioners for large stationary fuel cells. The Company also integrates microturbine-based auxiliary power units for back-up and mobile power applications.