Fedders acquires 80% of Islandaire

Fedders Corp. purchased 80 percent of the stock of Islandaire Inc. (a PTAC and heat pump manufacturer) from its founder, renaming it Fedders Islandaire Co., and intends to buy the remaining 20% within three years. Islandaire's 2004 sales were approximately $26 million.

“Fedders Corp. has purchased 80 percent of the stock of Islandaire Inc. from its founder and sole shareholder, Robert E. Hansen Jr.”

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