Rea and Viakable plan to create JV to market magnet wire in North America

摘要

The Rea Magnet Wire Company (Rea) and Magnekon, a division of Viakable, announced that they plan to form a joint venture to serve magnet wire customers, primarily in North America. A press release said that the JV - to be called Rea Magnekon, and headquartered in Fort Wayne, Indiana - will combine the NAFTA assets of both companies, as well as leverage operational and supply chain synergies. It also includes an enamel manufacturing plant, Kemek, that is part of Magnekon. Rea will own a majority interest in the JV. "This agreement represents each organization's strong commitment to provide customers with the best overall value in magnet wire and related wire products and will better enable us to meet the expressed needs of our North American customers," said Rea CEO/President Scott Harrison.