BOYNE CITY, Mich. (PRWEB) February 18, 2021
Industrial Magnetics, Inc. announces the acquisition of substantially all of the assets of Walker Magnetics Group, Inc., North America’s oldest industrial magnet manufacturer.
Founded in 1896 in Worcester, MA upon the invention of the electromagnetic chuck by Oakley S. Walker, Walker Magnetics has grown into a market-leading provider of custom and standard magnetic products for workholding, lifting, material handling, scrap magnets and separation applications. Over its 125-year history, a diverse range of industries have come to recognize Walker Magnetics products’ reliability across a broad spectrum of unique and general manufacturing applications.
According to Dennis O’Leary, Industrial Magnetics’ Chief Business Development Officer, “The acquisition of Walker Magnetics marks Industrial Magnetics’ next step in expanding our permanent, electromagnetic and electro-permanent magnetic technology and systems for industrial applications. It also broadens our industry-best roster of lift magnets and establishes Industrial Magnetics as a leader in the workholding segment with a complete lineup of permanent, electromagnetic, and electro-permanent magnetic chucks. With strong brand recognition and highly complementary products, we are excited about the opportunities to grow both businesses while maintaining our industry-best lead time, reliability, and quality. Industrial Magnetics intends to be a thoughtful steward to the Walker Magnetics legacy, history, and brand with continued investment in its long-term growth.”
About Industrial Magnetics: Since 1961, Industrial Magnetics, Inc., has been an industry leader providing best-in-class customer service, on-time delivery, and innovative permanent and electromagnetic solutions to meet the exact needs of any application. For additional information or to request a catalog, visit IMI online at http://www.magnetics.com or call 231.582.3100.
About Walker Magnetics: Walker Magnetics, founded in Worcester, MA in 1896, is a globally recognized manufacturer of highly engineered industrial magnetic products. Throughout its history, the business has served thousands of customers in 190 countries worldwide, including steel mills, the rail industry, scrap processors, recycling centers, foundries, mining companies, machine shops, fabrication plants, shipyards, casting plants, machine tool distributors, automotive suppliers and steel services centers. Visit Walker Magnetics’ brand online at http://www.walkermagnet.com.