WisBusiness.com
Racine-based Modine Manufacturing Co. said today that disappointing sales are forcing it to consider restructuring and plant closures next year. Officials are blaming a “slower-than-anticipated heavy-duty truck market recovery and a difficult business climate.”
The company, which makes thermal management systems and components, said its Original Equipment-North America business “continues to experience unfavorable operating results… The current outlook for this business is below the company’s previous expectations.”
Officials said the company will provide details on the restructuring and cost reduction plans in its third quarter results report to be issued in late January.
See release: http://www.wisbusiness.com/index.iml?Article=113064
