Benzinga | Sep 16, 2021 02:29PM EDT

Modine Manufacturing Creates Electric Vehicle Business Unit

* Modine Manufacturing Co (NYSE:MOD) is establishing a separate business unit to focus exclusively on thermal management systems for electric vehicles.

* The company plans to name a dedicated leader to this group and invest in the people and technology to support the fast-developing market.

* Modine currently produces complete electric vehicle heat exchange systems that regulate powertrain temperatures within optimal ranges under all operating conditions.

* Modine's products are suited for transit and school buses, specialty vehicles, and trucks, including those used for last-mile delivery.

* Price Action: MOD shares are trading higher by 0.26% at $11.43 on the last check Thursday.