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Modine Completes Purchase of Brazilian Joint Venture

6 August 1998

Modine Completes Purchase of Brazilian Joint Venture

    RACINE, Wis.--Aug. 6, 1998--Modine Manufacturing Company (MODI, NASDAQ) has completed the acquisition of a 50-percent interest in Radiadores Visconde Ltda., a Brazilian heat-transfer company. Modine had previously signed a letter of intent to enter this joint venture on June 11.
    Visconde employs about 750 people at facilities in Sao Paulo. It produces heat-exchanger components, assemblies, and modules primarily for the aftermarket, but also for sale to original-equipment customers in the truck, engine, agricultural-tractor, hydraulic-system, compressor, marine, construction-equipment, power-generator, and industrial markets.
    Modine is a world leader at solving heating and cooling problems in vehicles, buildings, and off-highway and industrial equipment. Modine, whose consolidated sales are more than a billion dollars per year, has 8,500 employees at more than 50 locations worldwide.