Research and development of the new Magna Tech product line commenced in May 1989 in a 7,000 square foot metal building with five employees dedicated to "Towing." One month later Magna Tech sold its first product in the towing market. The following November the company introduced its entirely new product line at the Nashville International Towing Association Trade Show.
With the success of the new product line in late 1989, Magna Tech expanded twice. First, in November an additional 10,000 square feet of manufacturing space was added to the Brooklyn plant, and in January the offices moved to a new building across from the manufacturing plant. Spring brought forth a new season of growth, and that March the company transformed itself from a joint venture into an incorporated entity in the State of Iowa.
Four days had past since Magna Tech's incorporation on March 1, 1990, when fire struck at the Victor plant, burning the new 10,000 square foot building and causing $200,000 in damage. Yet, a mere three weeks later Magna Tech succeeded in beginning production of the Century Towing Line for the Century Wrecker Corporation. This not only generated significant sales but also underscored Magna Tech's presence in the OEM Towing Accessories market.
Much has changed since that first year, as growth and development have been steady and continual occurrences at Magna Tech. Not only has Magna Tech expanded its presence in domestic markets. It has established a reputation around the world as a manufacturer which utilizes the highest-quality and most-modern technological processes and materials. Foreign sales have contributed much to the company's success.
In August 1990, Magna Tech formed Magna Transportation as a wholly-owned division of Magna Tech to deliver products and carry freight across the United States. "Growth" at Magna Tech has since then signified adding value to our products not only by utilizing and developing superior technology, but also by providing efficient and affordable services to our customers. It is for this reason Magna Tech manufactures "The Next Generation" of towing accessories, and Magna Transportation confidently travels with the slogan, "Delivering The Finest In Technology."
Sometimes opportunities come in big sizes, and that's exactly what happened to Magna Tech in 1996 when Tolle Products of Chanute, Kansas had gone bankrupt. Seizing on a chance to expand its operation, Magna Tech purchased Tolle's patents and designs and moved its operation from Iowa to a larger building in the Safari Industrial Park in Chanute, Kansas. The added space afforded by our new building is providing Magna Tech with growing room, for in this last year we have commenced production on our RV Accessories product line and on a new, exciting OEM contract with the JAM'n Fitness Corp.
Internet commerce is shaping all industries as they plan for the future, and Magna Tech is no exception. Forward looking and nimble, we are working to align our services with the promise of ubiquitous and instant access to information that the so-called 'Information Age' promises. In this cycle we have re-vamped our internet presence with a new look and feel on our web site. We have secured our own domain name, staking out a niche in the vast cyberspace. We have added over 700 products to our on-line database and are making it easier for individuals, distributors and OEM Partners to place orders electronically. In terms of product information, watch for additional on-line product manuals and tear sheets over the next few months.
Looking forward, Magna Tech has more exciting product lines in development, and when the time is ripe we'll make announcements on this web site and elsewhere. (more history)