Magna Electric Honored in Canada’s Best Managed Company Top 50 Ranking for Third Consecutive Year

REGINA, Saskatchewan - March 27, 2014 - PRLog -- REGINA, SK – On March 25^th in the National Post, Magna Electric was recognized as one of the 2013 winners of Canada’s Best Managed Companies program (http://www.canadas50best.com/) for having demonstrated outstanding business performance and innovative management.

A Deloitte program established in 1993, Canada's Best Managed Companies is the country’s leading business awards program, recognizing excellence in Canadian-owned and -managed companies with revenues over $10 million.Every year, hundreds of entrepreneurial companies compete for this designation in a rigorous and independent process that evaluates the caliber of management abilities and practices. The top 50 ranking pays tribute to Canadian-owned businesses that have outperformed competitors, created thousands of jobs,achieved sustainable growth and have excelled both at home and abroad.

“We are proud of this designation and will continue to focus on the fundamentals of our business to best serve our client-base and, hopefully, continue to stay ranked in this fine program,” said Kerry Heid, president of Magna Electric. “It is truly an honor to be among the exemplary companies that have made this list.”

Magna Electric was acquired by Shermco Industries in late 2013, expanding its depth of resources and capabilities by forming the largest independent electrical testing and maintenance service company in North America, serving energy, industrial and utility customers across the U.S., Canada and other select international markets.

ABOUT MAGNA ELECTRIC

Based in Saskatchewan, Magna Electric Corporation is a leading Canadian electrical power system engineering, testing, construction, manufacturing and commissioning service company. MEC is a division of Shermco Industries, North America’s leading independent provider of electrical services to energy, utility, infrastructure and industrial companies. With service centers located throughout North America, certified technicians and engineers focus on servicing both scheduled and unexpected projects for large commercial, industrial and utility customers.  MEC and Shermco, lead in electrical safety and technical training as well as industrial electrical contracting, utility, wind turbine maintenance and disaster recovery services. Both are members in good standing with governing and standards entities such as the CSA, Electrical Apparatus Service Association, American Wind Energy Association, Professional Electrical Apparatus Recyclers League, and the InterNational Electrical Testing Association. For more information, visit www.magnaelectric.com or www.shermco.com