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RACINE, Wis. - Modine (NYSE:MOD), a thermal management technology company with a market capitalization of $7.4 billion and annual revenue of $2.6 billion, announced Monday that Jeremy Patten has been appointed as President of its Performance Technologies segment.
In his new role, Patten will lead the company’s Heavy-Duty Equipment and On-Highway Applications product groups, which provide heat exchangers and cooling modules for power generation, agriculture, construction equipment markets and commercial vehicles.
Patten brings more than 20 years of experience to the position, most recently serving as President of the Packaging and Food Technology Group at ATS Corp. His prior experience includes vice president roles at two IDEX companies and operations positions at Danaher.
"Jeremy brings a strong track record of industrial leadership and operational excellence," said Neil D. Brinker, Modine’s Chief Executive Officer, in a press release statement. "His strategic mindset and experience with 80/20 make him exceptionally well-suited to streamline operations, unlock business value, and drive toward our margin targets for this segment."
Patten holds a bachelor’s degree in environmental engineering from the U.S. Military Academy at West Point and served five years in the U.S. Army. He also has a master’s degree in business administration.
Modine, headquartered in Racine, Wisconsin, employs more than 11,000 people worldwide across its Climate Solutions and Performance Technologies segments. According to InvestingPro data, the company maintains strong financial health with liquid assets exceeding short-term obligations and has delivered an impressive 75% return over the past six months, despite a recent 8% pullback last week. For deeper insights into Modine’s financial performance and growth prospects, investors can access the comprehensive Pro Research Report, which provides detailed analysis of what matters most for informed investment decisions.
In other recent news, Modine Manufacturing reported strong financial results for the first quarter of fiscal year 2026, surpassing analysts’ expectations. The company achieved earnings per share of $1.06, exceeding the projected $0.95, while revenue reached $682.8 million, outpacing the anticipated $652.76 million. Additionally, Modine Manufacturing has expanded its global footprint by opening a new 100,000 square foot facility in Chennai, India, to produce data center cooling equipment for the Asia-Pacific region. In corporate governance developments, shareholders elected four directors to the board, including Neil D. Brinker and Katherine C. Harper, among others, during a recent meeting. Analyst firm KeyBanc raised its price target for Modine Manufacturing to $160, maintaining an Overweight rating due to strong demand trends in the data center cooling market. DA Davidson also reiterated its Buy rating on the company, setting a price target of $185. These recent developments highlight Modine Manufacturing’s strategic growth and positive market reception.
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