RTTNews | Nov 2, 2020 07:09AM EST

07:08 Monday, November 2, 2020 (RTTNews.com) - Modine Manufacturing Company (MOD) has signed a definitive agreement with Dana Incorporated to sell the liquid-cooled portion of its automotive business. The transaction is expected to close in the first half of 2021.

Modine Interim CEO, Michael Lucareli, said: "This transaction accelerates Modine's transformation to become a diversified industrial company with higher operating margins, lower capital intensity and greater free cash flow generation. The enhanced operating profile resulting from this transaction is a critical component of our strategic objectives and will allow us to provide additional capital and resources to accelerate the growth of our commercial HVAC and data center businesses."

Read the original article on RTTNews ( https://www.rttnews.com/3141906/modine-manufacturing-company-announces-sale-of-automotive-business-to-dana.aspx)

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