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plans to acquire substantially all of the assets of Walker Magnetics Group Inc., North America’s oldest industrial magnet manufacturer.

Founded in 1896 upon Oakley S. Walker’s invention of the electromagnetic chuck, Walker Magnetics has grown into a 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 utilized Walker Magnetics’ products across a broad spectrum of unique and general manufacturing applications.

“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,” says Dennis O’Leary, Industrial Magnetics’ chief business development officer. “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.”