From MEMA Industry News
Modine Manufacturing Co. said on Thursday its electronics coolings group unit would close its plant in Guaymas, Mexico, in an effort to reduce operating expenses.
Modine, a maker of heating and cooling products, said it would move the business from the Mexican plant to other North American and Asian facilities. The move will be completed in four months, it said.
The Racine, Wisc.-based company estimated that the financial impact of the plant closing would be about $3 million on a pretax basis. That amount likely will be recognized in the first half of the company’s fiscal year, it said.
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