Magna Industries, INC. - History
Magna International Corporation was founded as a manufacturer of industrial application infrared heating systems powered by propane fuel. In the early 1970s, under the ownership of Paul Cozel, the company made their retail debut by designing and producing a new portable propane powered heater and tool for the consumer market. Magna International developed various markets for the infrared tool, including the United States Government.
In 1979, Larry Whited and David Davidson bought the company and renamed it Magna Industries, Inc. The following year, this partnership launched “Tru-Grit Flashlights” as the first official product under their ownership. In 1981, the partnership split, and “Tru-Grit Flashlight” was sold. Larry Whited, as the owner, maintained Magna Industries, Inc. and in 1982 Magna released the first propane torch into the retail market. The torch sold well and became the foundation of the company
In 1985, Magna purchased Insto-Impala Products/Waywick Corporation's assets and name from
Chapter 11. The company proved profitable as a result of their expertise and ingenuity in the industry, and they were able to move locations of their manufacturing facilities to Cleveland. Magna Industries, Inc. purchased the product
lines from the oldest manufacturer of propane torches for the professional and industrial market and Magna expanded tremendously since its birth over 70 years ago.
Magna Industries, Inc. is currently represented on an international level. Further, the
original company that solely produced torches in its inception now has incorporated three separate divisions.
These divisions manufacture and/or sell almost 200 products.
In 1996, Magna launched their Sand & Kleen Division, and the following year sold to the first of
several major retailers. MagTorch Division brand name was launched in 1999 on the heels of Todd Whited, Larry's son, who joined the company as VP of Sales and Marketing. Most recently, Magna Industries, Inc. purchased a building
that houses their corporate headquarters, located at 2233 West 110th Street in Cleveland, Ohio. With this purchase, Magna has expanded the offices and warehouse facilities.
Magna Industries, Inc. brings to the market place a greatly diversified group of products for the consumer and professional user market. Magna continues to grow on the foundation instilled by their "family-run" corporation.
Major Lines of Business: Retail and Industrial Market: Propane torches and Accessories; Torch and Plumbing Repair Tools Retail Market: Sand & Kleen "Dustless Drywall Sanding Systems" and Drywall Tool