Air Quality In Schools - Modine Bolsters Product Offering Via Napps Technology Acquisition
Portfolio Pulse from Shivani Kumaresan
Modine Manufacturing Company (NYSE:MOD) has acquired Napps Technology, a manufacturer of air- and water-cooled chillers, condensing units and heat pumps for the K-12 school market. The acquisition is expected to enhance Modine's offerings to the K-12 school market and generate $6 million - $8 million in revenue this year, with a forecast to double within two years. Modine plans to continue manufacturing in Longview, Texas, and Sam Neale, current president of Napps Technology, will join Modine.
July 06, 2023 | 3:09 pm
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Modine Manufacturing's acquisition of Napps Technology is expected to enhance its product offerings and generate significant revenue. However, the company's shares are currently trading lower.
The acquisition of Napps Technology by Modine Manufacturing is a strategic move to enhance its product offerings in the K-12 school market. This is expected to generate significant revenue for the company, which could positively impact its financial performance. However, the company's shares are currently trading lower, which indicates a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100