RACINE, WI — Modine Manufacturing Co. has received the largest condenser order in the company’s 88-year history, from the European automobile manufacturer PSA Peugeot Citroen. The condensers will be used in several models for PSA, which has been one of the fastest-growing carmakers in the past five years.
Modine will start production in 2006 for the anticipated $15 million order, approximately half of which represents incremental business. The air conditioning condensers will be manufactured in a highly specialized facility in Austria, which started in 1984 as a joint venture. It became wholly owned by Modine in 1994, and now employs approximately 350 people. Modine Austria supports other European automotive carmakers like BMW, DaimlerChrysler and Fiat with air conditioning condensers.
The condensers will be used on PSA Platform “BVH1”, with models C3, C2, Pluriel and several future models. These successful high-volume products mean a shift in market shares for Modine-Europe and world-wide.
More information about Modine can be found at: www.modine.com.
Click here to view the rest of today’s headlines.