(RTTNews) - Modine (MOD) announced a $100 million investment over the next 12-18 months to expand U.S. manufacturing capacity for its Airedale by Modine™ data center cooling solutions.
The expansion includes new and upgraded facilities in Dallas, TX; Grenada, MS; and potential redevelopments in Franklin, WI, and Jefferson City, MO. This move aims to meet growing demand in the data center sector, enhance engineering and product development capabilities, and generate new jobs.
Modine CEO Neil Brinker said the company's increased manufacturing capacity positions it to potentially reach $2 billion in data center revenue by fiscal 2028. Eric McGinnis, President of Modine's Climate Solutions segment, added that the investment strengthens Modine's regional capacity and supports hyperscale and colocation customers with modular and scalable solutions.
Art Laszlo, Group VP of Global Data Centers, noted that the growth is driven by AI and high-density computing, and Modine is aligning with those evolving needs through innovative cooling technologies.
Tuesday MOD closed at $111.95 or 6.10% higher on the NYSE.
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