Modine divests from ICE-based components production in Germany
By Bradley Osborne - 2nd October 2023
USA / Germany – Modine Manufacturing Company, a manufacturer of thermal management systems based in Racine, Wisconsin, USA, has announced the sale of multiple businesses in Germany as it moves away from automotive HVAC technologies based on the internal combustion engine.
Modine was the owner of businesses based in three German cities: one in Neuenkirchen, North Rhine-Westphalia; one in Pliezhausen, Baden-Württemberg; and one in Wackersdorf, Bavaria. These subsidiaries are specialists in the manufacture of exhaust gas recirculation coolers, radiators, and charge air cooler modules for automotives power by internal combustion. In fiscal year 2023, these businesses were worth between USD80m and USD90m altogether.
