Modine Divests Performance Technologies Business via Spin-Off

Modine will separate its Performance Technologies business into a new subsidiary, Platinum SpinCo Inc., and then distribute all shares of SpinCo to Modine shareholders in a pro rata spin-off. This divestiture is a step in the larger combination with Gentherm.

“First, the Company will separate (the “Separation”) the Performance Technologies Business from the remainder of the Company’s businesses so that the Performance Technologies Business is held by Platinum SpinCo Inc., a Delaware corporation and a wholly owned subsidiary of the Company (“SpinCo”).”

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