Another South Milwaukee manufacturer has been acquired.
This time, it’s Magnum Fitness, which is headquartered at 2201 12th Ave. downtown. Taiwan-based Johnson Health Tech announced on Tuesday that it has acquired the firm.
See the Business Journal story here. From it:
In addition to rounding out the existing product portfolio, the acquisition of Magnum also provides production capabilities in North America.
Over the next 12 months Johnson Health Tech management will evaluate how to best integrate the existing Magnum team, product lines, distributors and facilities into its existing operations. Ron Carringi, director of engineering, will serve as general manager of the manufacturing facility.
The company will still be present in Wisconsin with JHT’s global product development, marketing and engineering based in Cottage Grove.
Let’s hope that this is good news for Magnum and South Milwaukee — the similar hope I had/have for Bucyrus (now Caterpillar), Cooper Power (soon to be owned by Eaton), Appleton Electric and Vilter (owned by Emerson) and Ladish (owned by Allegheny Technology Inc.).