Modine Opening New Facility in Northern Italy
17 March 2000
Modine Opening New Facility in Northern Italy
PONTEVICO, Italy--March 17, 2000--Modine Europe GmbH, Filderstadt-Bernhausen, Germany, a leading international manufacturer of heat-transfer technology and cooling systems, has opened its first Southern European facility here. At the newly opened location, Modine will produce cooling modules, water-cooling systems, intercoolers, oil coolers, and air-conditioning condensers for Fiat, DaimlerChrysler, and VW.Total investment in the construction of the Pontevico production facility amounted to 25 million DM (US$ 12.4 million). The number of employees is currently seventy, but will be increased to 200-250 in the future.
The reason for building the new production facility, which is being put into operation today after two years of construction, is the general growth of the European market and the resulting necessity for increased capacities. The new plant will enable Modine to strengthen its position in the European market, which generates about 30 percent of the company's revenues.
"The new production facility allows us to be closer to our customers and to react more flexibly to the demands of the market" explains Stefano Castelli, manager of the new facility at the opening event. "We have chosen Pontevico not only because it is centrally located, but also because of Northern Italy's good reputation as an industrial region. The active support we received from the community of Pontevico also helped us in making our decision."
A decisive factor in the decision for the construction of the new plant was the company's "small-plant philosophy," according to which no more than about 350 people should be employed at each production facility. This concept has proven successful for Modine, ensuring flexibility in the long term and allowing reduced costs through higher transparency.
About Modine
Modine Europe GmbH is a subsidiary of the Modine Manufacturing Company, Racine, Wisconsin, USA, a world leader at solving heating and cooling problems in vehicles, buildings, and off-highway and industrial equipment. The company had annual sales of more than 1.1 billion US-$ (2,2 billion DM) in 1999 and has about 8.600 employees worldwide. One focus of Modine is on the European market where 2.300 people are employed, about 1.000 in the Stuttgart region. Modine can be found on the Internet at www.modine.com