Racine-based
Modine Manufacturing Co. is adding a new building at its production facility in Sremska, Serbia. The company, which specializes in thermal management systems and components, is adding space to meet growing demand from the heat pump market in Europe.
Once completed, the new facility will manufacture coils for commercial and residential pump applications.
"The market for heat pumps is experiencing tremendous growth in Europe and we want our manufacturing centers closer to our key customers,” said
Eric McGinnis, Modine’s president of Climate Solutions. “Serving them with best-in-class heat transfer technology that reduces energy consumption and lowers harmful emissions is one way.”
Modine’s Serbian facility was established in 2014 to manufacture heat transfer coils used primarily in commercial refrigeration and HVAC applications. Over the years, the facility received new investment and was expanded in 2019 to support the growing heat pump market. The new facility will be located next to the existing plant.
Modine reported increased sales in its Climate Solutions segment of 9% for the fiscal third quarter of 2023. The segment saw sales of $248.6 million compared to $227.3 million last year. This increase was driven by higher sales of data center cooling, heat transfer and HVAC and refrigeration products. The company also reported that the heat pump market is currently experiencing “significant” double-digit growth.
"The new production facility in Serbia underscores Modine's commitment to providing the highest quality coils to our customers,” said
Mike Postma, Modine's vice president and general manager, Heat Transfer Products. “We look forward to working with our customers and suppliers as we expand our operations in the region.”
