Wirenet Image Band
wirenet.org mobile image band

Wire Journal News

Elektrisola has acquired the assets of Rea North American Magnet Wire

Elektrisola announced that it has acquired Rea’s North American magnet wire assets, including its five manufacturing plants in Indiana, Connecticut, Virginia and Mexico as well as its leased corporate offices in Fort Wayne, Indiana.

A press release said that Elektrisola plans to continue operating the business under the well-known brand of Rea Magnet Wire, and will continue to employ the current employees. “Rea is a great addition to complement our magnet wire activities in North America and to continue the successful growth of the Elektrisola Group,” said Elektrisola Managing Owner Detlef Schildbach.

“When you assess our complementary strengths, Rea and Elektrisola are a perfect match,” said Jim Shea, a former major shareholder of Rea Magnet Wire. “Customers will directly benefit from our combined operational excellence and technological expertise in systems and products.”
Elektrisola notes that the company is the world’s largest manufacturer of enameled copper wire finer than 0.15 mm. Founded in 1948 in Germany, Elektrisola currently has 14 plants in seven countries with approximately 4,000 employees.

Rea Magnet Wire Company, the largest privately held magnet wire company in the world serving the motor, generator and transformer industries, was founded in 1933 in Fort Wayne, Indiana. It supplies a diverse selection of alloys and tempers. Its five plants in North America have approximately 800 employees.

Read 555 times Last modified on May 3, 2023