The facility manufactures air handling units
for the hyperscale market
RACINE,
Wis., Oct. 28, 2024 /PRNewswire/ -- Modine
(NYSE: MOD), a diversified global leader in thermal management
technology and solutions, today announced the opening of a new
23,200m² (~250,000ft²) facility in Calgary, Canada. The facility will manufacture
Airedale by Modine™ precision cooling equipment to meet the
increased demand from data center customers, particularly in the
hyperscale market.
"We are excited to open this new facility in Calgary in support of our global expansion
strategy," said Eric McGinnis,
President, Climate Solutions. "Following the recent announcement of
the opening of our facility in Bradford,
UK, we are well-positioned to serve data center customers
worldwide. With the full range of Airedale by Modine technologies,
customers have a one-stop shop for mission-critical cooling
solutions."
Modine acquired Canada-based
Scott Springfield Manufacturing in February and promptly broke
ground on a third facility to manufacture advanced air handling
units for hyperscale data center customers under the Airedale by
Modine brand. This new facility expands Modine's ability to provide
customers with cooling equipment from a global manufacturing
footprint that includes facilities in Spain, the UK, and the U.S. The first Airedale
by Modine units from the new Calgary facility are expected to be delivered
by the end of 2024.
"Earlier this year, Modine committed to expanding capacity and
driving growth in the data center equipment market," said
Javier Vazquez, General Manager.
"It's impressive to see such a quick operational turnaround from
the planning stages to execution and setup of the new facility. The
team involved did an amazing job to get us to this point."
Watch a video of the new facility or learn more at
Scott Springfield by Modine.
About Modine
At Modine, we are Engineering a Cleaner, Healthier World™.
Building on more than 100 years of excellence in thermal
management, we provide trusted systems and solutions that improve
air quality and conserve natural resources. More than 11,000
employees are at work in every corner of the globe, delivering the
solutions our customers need, where they need them. Our Climate
Solutions and Performance Technologies segments support our purpose
by improving air quality, reducing energy and water consumption,
lowering harmful emissions and enabling cleaner running vehicles
and environmentally-friendly refrigerants. Modine is a global
company headquartered in Racine,
Wisconsin (U.S.), with operations in North America, South
America, Europe and
Asia. For more information about
Modine, visit www.modine.com.
Investor Contact:
Kathleen
Powers
(262) 636-1687
kathleen.t.powers@modine.com
Media Contacts:
Canada:
SMacDuff@scottspringfield.ca
US: pr@modine.com
Forward-Looking Statements
This press release contains statements, including information
about future financial performance and market conditions,
accompanied by phrases such as "believes," "estimates," "expects,"
"plans," "anticipates," "intends," "projects," and other similar
"forward-looking" statements, as defined in the Private Securities
Litigation Reform Act of 1995. Modine's actual results, performance
or achievements may differ materially from those expressed or
implied in these statements because of certain risks and
uncertainties, including, but not limited to those described under
"Risk Factors" in Item 1A of Part I of the Company's Annual Report
on Form 10-K for the year ended March 31,
2024 and under Forward-Looking Statements in Item 7 of Part
II of that same report and in the Company's Quarterly Report on
Form 10-Q for the quarter ended June 30,
2024. Other risks and uncertainties include, but are not
limited to, the following: the impact of potential adverse
developments or disruptions in the global economy and financial
markets, including impacts related to inflation, energy costs,
supply chain challenges or supplier constraints, logistical
disruptions, tariffs, sanctions and other trade issues or
cross-border trade restrictions; the impact of other economic,
social and political conditions, changes and challenges in the
markets where we operate and compete, including foreign currency
exchange rate fluctuations, changes in interest rates, tightening
of the credit markets, recession or recovery therefrom,
restrictions associated with importing and exporting and foreign
ownership, public health crises, and the general uncertainties,
including the impact on demand for our products and the markets we
serve from regulatory and/or policy changes that have been or may
be implemented in the U.S. or abroad, including those related to
tax and trade, climate change, public health threats, and military
conflicts, including the current conflicts in Ukraine and in the Middle East and heightened tensions in the Red
Sea; the overall health and pricing focus of our customers; our
ability to successfully realize anticipated benefits, including
improved profit margins and cash flow, from our strategic
initiatives and our application of 80/20 principles across our
businesses; our ability to be at the forefront of technological
advances and the impacts of any changes in the adoption rate of
technologies that we expect to drive sales growth; our ability to
accelerate growth organically and through acquisitions and
successfully integrate acquired businesses; our ability to
effectively and efficiently manage our operations in response to
sales volume changes, including maintaining adequate production
capacity to meet demand in our growing businesses while also
completing restructuring activities and realizing benefits thereof;
our ability to fund our global liquidity requirements efficiently
and comply with the financial covenants in our credit agreements;
operational inefficiencies as a result of product or program
launches, unexpected volume increases or decreases, product
transfers and warranty claims; the impact on Modine of any
significant increases in commodity prices, particularly aluminum,
copper, steel and stainless steel (nickel) and other purchased
components and related costs, and our ability to adjust product
pricing in response to any such increases; our ability to recruit
and maintain talent in managerial, leadership, operational and
administrative functions and to mitigate increased labor costs; our
ability to protect our proprietary information and intellectual
property from theft or attack; the impact of any substantial
disruption or material breach of our information technology ("IT")
systems; the impact of a material weakness identified in our
internal controls related to IT system access in Europe on our financial reporting process;
costs and other effects of environmental investigation, remediation
or litigation and the increasing emphasis on environmental, social
and corporate governance matters; our ability to realize the
benefits of deferred tax assets; and other risks and uncertainties
identified in our public filings with the U.S. Securities and
Exchange Commission. Forward-looking statements are as of the date
of this release, and we do not assume any obligation to update any
forward-looking statements.
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SOURCE Modine