Modine sells AIAC Air Conditioning South Africa to management team

Modine Manufacturing Company signed an agreement to sell its South African subsidiary AIAC Air Conditioning South Africa (Pty) Ltd to the existing management team led by Andrew Koeslag. The business, based in Johannesburg, manufactures precision air conditioning systems and had FY2017 sales of just under $3 million.

“Modine Manufacturing Company has signed an agreement to sell its South African business operation, AIAC Air Conditioning South Africa (Pty) Ltd, to the current management team.”investors.modine.com

• 1 source
• investors.modine.comModine Manufacturing Company - Modine Signs Agreement to Sell AIAC Air Conditioning South Africa (Pty) Ltd to Existing Management TeamJun 11, 2018

Summarized from public sources; check the original articles before acting on it.