Modine to Spin Off Performance Technologies Segment and Merge with Gentherm

Modine Manufacturing Company announced its intention to spin off its Performance Technologies segment into a separate entity (SpinCo) and merge it with Gentherm Incorporated. Following the transaction, Modine's Climate Solutions segment will remain a standalone publicly traded company, sharpening its focus on data centers, commercial HVAC, and refrigeration.

“Today, we announced our intention to spin off our Performance Technologies segment and merge it with Gentherm, a premier provider of solutions for the automotive and medical industries. Following this transaction, our Climate Solutions segment together with our Corporate functions will remain a standalone, publicly traded company.”

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