Fedders acquires 80% of Islandaire

Fedders Corp. bought an 80% stake in PTAC/heat-pump maker Islandaire from its founder, renaming it Fedders Islandaire Co., with plans to buy the remaining 20% within three years.

“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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