Modine Names Mario Signorini as General Manager, Global Refrigeration & Industrial Coolers

Rhea-AI Summary

Modine Manufacturing Company (NYSE: MOD) has appointed Mario Signorini as the new General Manager for its Global Refrigeration & Industrial Coolers segment. Signorini, formerly Vice President at Westinghouse Electric, will oversee Modine's coolers business and report to Adrian I. Peace. The company aims to leverage its strong position in the commercial refrigeration market, particularly with CO2 refrigeration systems, which feature lower global warming potential. Modine reported $1.8 billion in revenues for fiscal 2021, emphasizing its growth in Europe and North America.

Positive

• Appointment of Mario Signorini as General Manager expected to enhance leadership in Refrigeration & Industrial Coolers segment.
• Strong market position in commercial refrigeration and growing presence in North America.
• Leading position in the use of CO2 refrigerants, aligned with market trends towards natural refrigerants.

Negative

• None.

RACINE, Wis., Nov. 15, 2021 /PRNewswire/ -- Modine Manufacturing Company (NYSE: MOD or the "Company"), a diversified global leader in thermal management technology and solutions, today announced that Mario Signorini has been appointed General Manager, Global Refrigeration & Industrial Coolers. In this role, Mr. Signorini will lead the Company's Coolers business and will report to Adrian I. Peace, Vice President, Commercial and Industrial Solutions. Modine produces evaporator unit coolers, remote condensers, gas coolers, and dry and brine coolers for the commercial and industrial refrigeration market under the ECO™ brand name and industrial heat transfer products such as transformer oil coolers, air unit heaters and motor and generator coolers under the COILTECH™ brand name.

Mr. Signorini most recently served as the Vice President Global Non-Nuclear Sales at Westinghouse Electric Company and as President and Chief Executive Officer of Mangiarotti SpA, a subsidiary of Westinghouse Electric. Prior to that, Mr. Signorini spent 14 years at IDEX corporation in roles of increasing responsibility, including President of IDEX Italy and IDEX France. He also held sales and operations positions for Ruud Lighting. 

"I am thrilled to have Mario join the Modine team," said Peace. "Modine has a strong position in the commercial and industrial refrigeration market in Europe, and a growing presence in North America. The move towards natural refrigerants presents a clear opportunity, as we have a leading position in the use of CO₂ for the refrigeration and air-conditioning markets. Systems that use CO₂ as a refrigerant offer very high heat exchange performance at a fraction of the global warming potential (GWP) of chemical refrigerants. These systems are increasingly the first choice of many of our customers and we are in a strong position to capitalize on this trend."

For more information about Modine Refrigeration, visit www.modinecoolers.com.   

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

Who is the new General Manager of Modine's Global Refrigeration & Industrial Coolers?

Mario Signorini has been appointed as the new General Manager.

What is Modine's focus in the refrigeration market?

Modine focuses on using CO2 as a refrigerant, which offers lower global warming potential.

What were Modine's revenues for fiscal 2021?

Modine reported revenues of $1.8 billion for fiscal 2021.

Where is Modine Manufacturing Company headquartered?

Modine is headquartered in Racine, Wisconsin.

What is the stock symbol for Modine Manufacturing Company?

The stock symbol for Modine is MOD.