Modine Manufacturing Co. recently announced its intention to close its manufacturing facility in McHenry, Ill. The closure is expected to impact approximately 135 full-time employees and generate annual savings of at least $5 million.
The company plans to transfer the McHenry production to other facilities in North America, including those in Mexico, Tennessee and Missouri. The McHenry plant makes parallel flow and serpentine condensers, oil coolers and radiators for the automotive, commercial vehicle, off-highway and building HVAC markets.
Plans call for the plant to close over an approximate 18-month period. Modine will provide the affected employees severance benefits and work closely with the Illinois Department of Labor and other state and local agencies to offer employment assistance and other services.
"Closing operations is never easy," said Scott Wollenberg, Modine's regional vice president. "However, our analysis of Modine's global product lines and North American manufacturing strategy led us to conclude that the best long-term solution for Modine and its shareholders is to consolidate all North American parallel flow heat exchanger manufacturing into other North American facilities. Closing the McHenry plant will help us rationalize production, maintain the scale we need in our manufacturing operations and improve our overall competitiveness and profitability."
Headquartered in Racine, Wis., Modine specializes in thermal management systems and components.
For more information, visit www.modine.com.
