Modine Manufacturing to expand presence in heat pump market

Racine-based company acquires Geofinity Manufacturing of B.C.


Racine, Wis.-based Modine Manufacturing Company will acquire privately-held Geofinity Manufacturing of Surrey, British Columbia. “This acquisition will provide Modine with a full line of innovative geothermal heat pumps in both water-to-water and water-to-air models,” company officials said in a press release. The deal is expected to close by mid-summer, 2012.

Geofinity extends Modine’s current geothermal heat pump product range beyond school-only applications to a wider market, one which has grown at a rate of nearly 15% annually, according to Tom Marry, Modine executive vice president and chief operating officer.

“Acquiring Geofinity helps us expand our offerings to the growing commercial HVAC business while extending our focus on the residential market,” Marry said. “We have seen – and expect more – growth from our Commercial Products Group and this acquisition will help us build further on this success.”

 “The Modine brand is trusted by distributors, engineers, contractors and end users within the commercial HVAC market,” said Matt McBurney, vice president of the commercial products group. “We see Geofinity as an extension of our well-established ideals to these same customers, with an added emphasis on the residential market. As such, we will be well positioned to take advantage of the increasing shift to geothermal solutions.”

Modine, with fiscal 2011 revenues of $1.4 billion, specializes in thermal management systems and components, bringing heating and cooling technology and solutions to diversified global markets. 

No comments
The Top Plant program honors outstanding manufacturing facilities in North America. View the 2015 Top Plant.
The Product of the Year program recognizes products newly released in the manufacturing industries.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
Safety for 18 years, warehouse maintenance tips, Ethernet and the IIoT, GAMS 2016 recap
2016 Engineering Leaders Under 40; Future vision: Where is manufacturing headed?; Electrical distribution, redefined
Strategic outsourcing delivers efficiency; Sleeve bearing clearance; Causes of water hammer; Improve air quality; Maintenance safety; GAMS preview
SCADA at the junction, Managing risk through maintenance, Moving at the speed of data
Safety at every angle, Big Data's impact on operations, bridging the skills gap
The digital oilfield: Utilizing Big Data can yield big savings; Virtualization a real solution; Tracking SIS performance
Applying network redundancy; Overcoming loop tuning challenges; PID control and networks
Driving motor efficiency; Preventing arc flash in mission critical facilities; Integrating alternative power and existing electrical systems
Package boilers; Natural gas infrared heating; Thermal treasure; Standby generation; Natural gas supports green efforts

Annual Salary Survey

Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.

There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.

But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.

Read more: 2015 Salary Survey

Maintenance and reliability tips and best practices from the maintenance and reliability coaches at Allied Reliability Group.
The One Voice for Manufacturing blog reports on federal public policy issues impacting the manufacturing sector. One Voice is a joint effort by the National Tooling and Machining...
The Society for Maintenance and Reliability Professionals an organization devoted...
Join this ongoing discussion of machine guarding topics, including solutions assessments, regulatory compliance, gap analysis...
IMS Research, recently acquired by IHS Inc., is a leading independent supplier of market research and consultancy to the global electronics industry.
Maintenance is not optional in manufacturing. It’s a profit center, driving productivity and uptime while reducing overall repair costs.
The Lachance on CMMS blog is about current maintenance topics. Blogger Paul Lachance is president and chief technology officer for Smartware Group.
This article collection contains several articles on the vital role of plant safety and offers advice on best practices.
This article collection contains several articles on the Industrial Internet of Things (IIoT) and how it is transforming manufacturing.
This article collection contains several articles on strategic maintenance and understanding all the parts of your plant.
click me