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Rockbridge County company expanding, creating 60 new jobs Modine Manufacturing Company is investing $7 million to build a manufacturing facility Published: Tags: Modine Manufacturing Company (Modine Manufacturing Company) ROCKBRIDGE COUNTY, Va. – More jobs will be coming to Rockbridge County as a long-time employer is growing its footprint in the county. Modine Manufacturing Company will invest $7 million to establish a manufacturing facility in Rockbridge County, Gov. Ralph Northam announced on Thursday. “Virginia boasts the largest data center market in the country, and this growing industry requires state-of-the-art cooling systems manufactured by leaders like Modine,” said Northam. “We are grateful that this longtime Virginia employer has decided to deepen its roots in our Commonwealth, creating 21st-century jobs and producing a high-demand, world-class product right here in the Shenandoah Valley.” ....
Modine has signed a definitive agreement with Schmid Metall, an affiliate of Rupert Fertinger, to sell a portion of the company s European air-cooled automotive business, including its manufacturing facility located in Kottingbrunn, Austria. The transaction is expected to close in the first half of 2021, following receipt of regulatory approvals and other customary closing conditions. The sale will allow the company to avoid significant liabilities and future cash investments in the business. This is an important step in our strategic exit of the automotive segment businesses, allowing us to further fuel and grow our remaining business, said Modine CEO, Neil Brinker. ....
Wasserman DENVER and FORT COLLINS Yuval Wasserman will retire from his post as CEO of power controls maker Advanced Energy Industries Inc. (Nasdaq: AEIS) at the end of the month after 14 years with the company. In a statement accompanying its quarterly earnings, the company said it will hire Steve Kelley as its new CEO and board member starting March 1. Kelley was most recently CEO of semiconductor product developer Amkor Technology Inc. (Nasdaq: AMKR) from 2013 to last June. In a call with analysts Wednesday morning, Wasserman said he is turning 67 this year and wishes to spend more time with family and on personal interests. He had planned to retire as part of a prepared succession plan. ....
Modine Announces Organizational Changes Share this article Share this article RACINE, Wis., Jan. 7, 2021 /PRNewswire/ Modine Manufacturing Company (NYSE: MOD), a diversified global leader in thermal management technology and solutions, today announced that it has eliminated a senior executive position that previously served as Vice President, Commercial and Industrial Solutions ( CIS ) and Chief Operating Officer. Along with this change, the Company announced the departure of Scott Bowser, who previously held this combined position. Global operations will be managed by Tom Drahos, who is currently Vice President of Operations. Mr. Drahos has vast experience leading global operations teams during his 27 years with Modine. Scott Miller will assume responsibility for the CIS business segment. Mr. Miller has been with Modine for 22 years, including numerous business leadership roles and most recently serving as Vice President, Global Coils and Coolers in Modin ....