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CHENNAI, India - Modine (NYSE:MOD), a thermal management technology company with a market capitalization of $7.1 billion and an impressive 56% stock price gain over the past six months, officially opened a new 100,000 square foot manufacturing facility in Chennai, India on Thursday. The facility will produce Airedale by Modine data center cooling equipment to serve growing demand across the Asia-Pacific (APAC) region.
The facility has begun production with the AireWall ONE fan wall, with plans to expand manufacturing to additional product ranges. The opening included a tree-planting ceremony and remarks from company leadership.
"Launching our Chennai facility is a significant milestone in our global growth strategy," said Eric McGinnis, President, Climate Solutions at Modine. "The data center market in India and across the region is growing rapidly."
This new facility complements Modine’s recently announced expansion of U.S. production capacity. The company attributes increased demand for its cooling solutions partly to the growth of AI applications, which require specialized thermal management.
Modine’s data center product portfolio includes chillers, indoor air systems, liquid cooling technologies, controls, and building management systems.
The company, headquartered in Racine, Wisconsin, employs over 11,000 people globally across its Climate Solutions and Performance Technologies segments.
This article is based on information from a company press release.
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, which exceeded the forecasted $0.95 by 11.58%. Additionally, Modine’s revenue reached $682.8 million, outperforming the anticipated $652.76 million by 4.6%. These results indicate a robust start to the fiscal year for the company. In further developments, KeyBanc has raised its price target for Modine Manufacturing to $160 from $150, maintaining an Overweight rating. This adjustment reflects KeyBanc’s increased confidence in Modine’s potential to benefit from strong demand trends in the data center cooling market. These recent developments highlight Modine Manufacturing’s positive financial performance and the optimistic outlook from analysts.
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