Production of its EVantage thermal management systems family will be expanded for the growing global commercial EV market.
The businesses manufacture exhaust gas recirculation coolers, radiators and other parts for ICE applications in Europe.
Thermal management solutions from Modine keep EV systems in optimal temperature ranges.
The new solution delivers a complete, plug-and-play system suited to the harsh environments of off-highway machines.
New plug-and-play systems for EV battery and power electronics thermal management integrates easily into a wide range of vehicles.
Both parties agreed it is no longer in the best interest of either company for Dana to acquire a portion of Modine’s Light-Vehicle Thermal Business.
The sale marks a key step in Modine’s exit from the automotive business.
Improving market conditions and cost reductions result in higher margins, earnings and cash flow, company says.
Transaction enhances Power Technologies business with complementary products.
Thomas Burke stepping down; Michael B. (Mick) Lucareli appointed interim president and CEO.
The award was driven by Modine’s Euro 6 Bus Program proposal consisting of a “frameless” cooling module.
This decision comes in the wake of record-setting sales in its non-automotive industrial segments.