Magnetek, Inc. has been notified by the New York Stock Exchange that it fails to meet continued listing standards, the company has announced. The stock exchange has listed the Chatsworth digital power control manufacturer as “below criteria” because Magnetek’s market capitalization over a consecutive 30-day trading period and its most recently reported total shareholder equity were both below $75 million. Magnetek expects to submit a business plan within 45 days to regain compliance with NYSE listing criteria. Magnetek, Inc. manufactures digital power control products and systems used in applications requiring very reliable, precise, energy-efficient power, including communications, industrial automation, information technology, consumer products, alternative energy, transportation and energy management.
