INC 500 Press Release-May 2006
MagnaDrive Recognized for Second Consecutive Year as One of America’s
Fastest Growing Private Companies
Growth Confirms Value Offered By MagnaDrive’s Technology
Bellevue, Washington, May 15, 2006 – MagnaDrive Corporation
announced today that the company was honored by Inc. Magazine as
one of the fastest growing private companies in America for the
second consecutive year.
The twenty-fourth annual Inc. 500 rankings were based on the
percentage growth in revenue over the last three years. MagnaDrive
achieved over 340% growth during this period – averaging more than
100% growth in sales each year.
“It’s fantastic that the hard work of the MagnaDrive employees and distributors is again generating this
kind of national recognition from such a prestigious source,” stated Jim Cich, President & CEO of
MagnaDrive Corporation. “It is an honor to lead an organization filled with such energetic and capable
colleagues.” Cich commented that a key element of MagnaDrive’s extraordinary growth rate was the
unique value offered by its technology. “MagnaDrive’s revolutionary disconnected torque-transfer
technology reduces total cost of ownership by lowering maintenance and operating costs, increasing
process availability, and improving system reliability.”
“With unprecedented global competition, companies have to be able to turn on a dime and discover
innovative new ways of doing business,” said Jim Melloan, project manager for the Inc. 500.
“Increasingly, it’s the smaller, agile companies like those on the Inc. 500 that are best equipped to meet
these challenges.” Current industry powerhouses to make past Inc. 500 lists include Microsoft,
Timberland, Oracle, Dominos Pizza, E*Trade and Intuit.
Bellevue-based MagnaDrive Corporation was founded in 1999. The company’s breakthrough magnetic
technology provides a cost effective solution to increase reliability and lower maintenance expense while
achieving energy savings and process control. The technology is protected by 20 domestic patents and
over 150 international patents. The impact and potential of the technology was recognized by Industry
Week magazine, which selected MagnaDrive as a Technology of the Year in 2001. More information
about MagnaDrive is available at www.magnadrive.com. For a self-paced online tutorial about
MagnaDrive’s technology, please see the MagnaDrive Education System at
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