Modine Announces Sale Of Coatings Aftermarket Application Facilities In California And Florida, To Protecall; No Financial Terms Disclosed
Portfolio Pulse from Happy Mohamed
Modine (NYSE:MOD) has announced the sale of its coatings aftermarket application facilities in California and Florida to Protecall. The sale is part of Modine's strategy to grow its coatings business through strategic licensing agreements. The company will continue to own and license the spray-applied coatings used in aftermarket applications.
August 29, 2023 | 8:37 pm
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Modine's sale of its facilities to Protecall is part of its strategy to focus on profitable growth through product licensing. This could potentially lead to increased revenues and profitability for the company.
The sale of the facilities is part of Modine's strategic shift towards product licensing, which could potentially lead to increased revenues and profitability. The company's continued ownership and licensing of the spray-applied coatings used in aftermarket applications indicates a focus on a potentially lucrative aspect of its business.
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