Modine Names Gina Bonini as General Manager, Electric Vehicles

Rhea-AI Summary

Modine Manufacturing Company (NYSE: MOD) announced the appointment of Gina Bonini as General Manager of its newly established Electric Vehicle business unit. This unit aims to develop thermal management systems for electric vehicles, focusing on optimal powertrain temperature regulation. Modine is currently in discussions with over 30 customers, in production on three programs, and has secured five additional programs set to launch in the next year. CEO Neil D. Brinker emphasized the importance of this growth market, aiming to enhance battery range and longevity through innovative technology.

Positive

• Appointment of Gina Bonini as General Manager for Electric Vehicles to drive growth.
• Development discussions with over 30 customers indicate strong market interest.
• Production on three programs indicates operational momentum.
• Five additional programs launching within the next 12 months signal future growth opportunities.

Negative

• None.

RACINE, Wis., Sept. 21, 2021 /PRNewswire/ -- Modine Manufacturing Company (NYSE: MOD or the "Company"), a diversified global leader in thermal management technology and solutions, today announced Gina Bonini has been appointed General Manager, Electric Vehicles.  In this role, Ms. Bonini will lead the Company's newly established Electric Vehicle business unit, which provides thermal management systems that regulate powertrain temperatures within optimal ranges under all operating conditions.  These systems are especially suited for transit and school buses, specialty vehicles, and trucks, including those used for last mile delivery.  Modine is currently in development discussions with more than 30 customers, is in production on three programs and has been awarded five additional programs that are launching in the next 12 months.

Ms. Bonini most recently served as the General Manger, Component Solutions Organization for Tektronix, a leader in test, measurement and monitoring technology.  During her 13 years at Tektronix, she held roles of increasing responsibility, including Director of Marketing for the U.S., Canada and Latin America.  Prior to that, Ms. Bonini spent 11 years with Agilent Technologies/Hewlett Packard in various product development, business development and marketing leadership roles.

"I am thrilled to welcome Gina to Modine as the leader of our newly formed Electric Vehicle business unit," said Modine Chief Executive Officer, Neil D. Brinker.  "As recently announced, this is an important growth market for us, and we have decided to manage it separately from our legacy internal combustion engine business.  The goal of this organization is to develop customer relationships and design systems using our proprietary controls and software to regulate the temperature of the vehicles' operating system without draining battery power, extending battery range and life.  Gina's success driving profitable growth and marketing expertise make her the perfect leader for this organization."

About Modine

Modine, with fiscal 2021 revenues of $1.8 billion, specializes in thermal management systems and components, bringing highly engineered heating and cooling components, original equipment products, and systems to diversified global markets through its four complementary segments: BHVAC, CIS, HDE, and Automotive. Modine is a global company headquartered in Racine, Wisconsin (USA), with operations in North America, South America, Europe and Asia. For more information about Modine, visit www.modine.com.

Investor & Media Contact

Kathleen Powers
(262) 636-1687
kathleen.t.powers@modine.com

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SOURCE Modine Manufacturing Company

FAQ

What is Modine's new Electric Vehicle business unit focusing on?

Modine's Electric Vehicle business unit focuses on developing thermal management systems to regulate powertrain temperatures, enhancing battery range and longevity.

Who is leading the Electric Vehicle division at Modine?

Gina Bonini has been appointed as the General Manager of the Electric Vehicle division at Modine.

How many customers is Modine currently in discussions with for Electric Vehicle systems?

Modine is currently in discussions with over 30 customers regarding its electric vehicle thermal management solutions.

What programs has Modine secured for its Electric Vehicle technologies?

Modine is in production on three electric vehicle programs and has secured five additional programs launching in the next year.

What was Modine's revenue for fiscal 2021?

Modine's revenue for fiscal 2021 was $1.8 billion.