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Bunting Magnetics Company Acquires Magnet Applications Group Ltd.

April 4, 2008

The Bunting Magnetics Company has acquired Magnet Applications Group Ltd. (MAGL). Founded in 1955 and currently with manufacturing operations in Dubois, PA and Berkhamsted, England, MAGL manufactures and distributes a wide variety of technical bonded magnets, precision magnetic assemblies, and complementary magnet products.

Robert J. Bunting, president of Bunting Magnetics, said, “This acquisition represents a strategic combination that significantly expands Bunting’s product and market scope. MAGL has outstanding market recognition as a premier manufacturer of bonded NdFeB magnets and technical assemblies. We are pleased that all of MAGL’s experienced management team will continue on with the business and we are confident that our newly combined enterprise will maintain the highest performance level serving our valued customers.”

According to Mike Miller, MAGL’s vice president of sales, “There will be no noticeable change to our customers, employees, or suppliers. This association with Bunting Magnetics provides a great opportunity for us, making both companies stronger in the worldwide marketplace.”

With its main manufacturing facility is in Newton, KS, Bunting serves manufacturers of plastic components, metal products, printing labels, food products, automobiles, and electronic equipment. The company manufactures magnetic separation equipment, and magnetic and non-magnetic conveyors for use in food, plastics, chemical, manufacturing, and recycling industries. The Newton facility also manufactures magnetic die cutting and printing cylinders for use in flexographic printing presses. Bunting also has a manufacturing and distribution facility in Elk Grove Village, IL that sells a full range of magnets, including magnetic assemblies, cut magnets, flexible magnetic rubber, and magnetic tools.