Bunting® Magnetics Restructures Financial Organization

NEWTON, KS - Bunting® Magnetics Co. has made two important organizational changes to its' Finance Department to accommodate the increasing global scale of the company. Molly Taiclet was promoted to Division Controller for Bunting® Magnetics Co. and Robert Turner, ACA, was elevated to Financial Director of Magnet Applications, Ltd (MAL).

Molly has been with Bunting® since 1995 when she started as the Accounting Supervisor. Most recently, she was the company's Accounting Manager. In her new role, Molly will increasingly focus on the integration of the accounting operations for the recent acquisitions made by Bunting®. She is a graduate of Drury College in Springfield, MO with a double major in Business Administration and Accounting.

"I appreciate the skills and dedication Molly brings to the company," stated Douglas E. Donaghue, Chief Financial Officer for Bunting®. "Molly's ability to take on new challenges as the company's operations have grown over the years has been a key factor in the continued success of Bunting®."

Robert, who joined MAL in 1998, will be focused on the regulatory and financial reporting for Bunting's United Kingdom operations. Robert, a graduate of Nottingham University, is a Chartered Accountant and a member of the Institute of Chartered Accountants in England and Wales (ICAEW).

"Robert brings a diverse background to the company with experience at Ernst & Young and within the industrial sector," Donaghue said. "As we move forward to completing the merger between the two companies, I will rely heavily on Robert to make it seamless."

Bunting® Magnetics Co. is a major U.S.-based manufacturer of magnetic assemblies and equipment. The company's product line serves global markets and includes a broad range of magnetic materials and components, magnetic separation systems, material handling equipment, magnetic printing cylinders, flexible dies and metal detection equipment. Magnet Applications is a UK manufacturer of Permanent Magnets and Magnetic Assemblies and has been supplying industry for over 40 years.

For more information, write Bunting® Magnetics Co., 500 S. Spencer Avenue, P.O. Box 468, Newton, KS 67114-0468, USA; call 1-800-835-2526 (US & Canada) or 316-284-2020; or send e-mail to bmc@buntingmagnetics.com. Visit Bunting's Web site at www.buntingmagnetics.com

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