Modine Manufacturing Co., a leader in thermal management technology and solutions, said Wednesday that its Board of Directors approved funding for a $16 million manufacturing facility in China. The Board also approved $20 million for Modine’s previously announced new facility in Mexico. The Chinese facility is expected to be operational in early 2008, and the Mexican plant is expected to be completed in April 2008.
“This facility, our third plant in China, allows us to capitalize on one of the fastest growing economies in the world. It supports our global customers’ needs for localized manufacturing capabilities, and provides opportunities to reach new customers and markets,” said David B. Rayburn, president and CEO. “This facility will also provide a low cost country sourcing alternative to Modine with the ability to develop a sale manufacturing footprint in Asia.”
Wisconsin-based Modine’s products are used in light, medium and heavy-duty vehicles, HVAC equipment, industrial equipment, refrigeration systems, fuel cells and electronics.