Modine Names Michael S. Postma as General Manager, Coils

Rhea-AI Summary

Modine Manufacturing Company (NYSE: MOD) has appointed Michael S. Postma as General Manager of its Coils business unit, reporting to Adrian I. Peace. Postma, formerly President of LA Darling and other Marmon Holdings subsidiaries, brings extensive P&L leadership experience to this complex segment. Modine aims to enhance commercial execution and operational efficiency within its coils division, a critical component of its $1.8 billion revenue base. The company operates globally, manufacturing specialized thermal management solutions.

Positive

• Appointment of Michael S. Postma as General Manager expected to enhance operational efficiency.
• Postma's experience in P&L leadership is likely to drive growth and profitability in the coils business.
• Modine aims to simplify operations using 80/20 methodologies to improve margins.

Negative

• None.

RACINE, Wis., Sept. 13, 2021 /PRNewswire/ -- Modine Manufacturing Company (NYSE: MOD or the "Company"), a diversified global leader in thermal management technology and solutions, today announced Michael S. Postma has been appointed General Manager, Coils. In this role, Mr. Postma will lead the Company's Coils business unit, and will report to Adrian I. Peace, Vice President, Commercial and Industrial Solutions (CIS). Modine designs and manufactures thermal coils in a variety of materials to meet the most demanding applications. Operating under the Heatcraft^® brand, Modine is the largest independent coil producer, offering some of the most diverse and highly specialized ranges of metal products available anywhere in the world.

Mr. Postma most recently served as the President of LA Darling, Streater & Unarco Industries, subsidiaries of Marmon Holdings. During his 15 years at Marmon, he held roles of increasing responsibility, including serving as President of other group businesses, and in senior financial roles.   

"Mike is a great addition to the Modine team, and I am confident that he will drive significant commercial and operational execution in our coils business," said Adrian I. Peace, Vice President, CIS. "Coils is a significant component of our product portfolio, but it is also a very complex business. We pride ourselves on developing and manufacturing custom heat transfer products for many end markets, delivering precise and reliable solutions. Utilizing 80/20 methodologies, we will focus on reducing complexity and driving margin improvements.  Mike's P&L leadership experience and financial background position him well to drive growth and profitability in the coils business."

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 Coils business unit?

Michael S. Postma has been appointed as the General Manager of Modine's Coils business unit.

What are Modine's fiscal 2021 revenues?

Modine reported fiscal 2021 revenues of $1.8 billion.

What is the significance of the coils business for Modine?

The coils business is a significant component of Modine's product portfolio, which consists of custom heat transfer products.

What experience does Michael S. Postma bring to Modine?

Postma brings over 15 years of experience at Marmon Holdings, including roles in financial leadership and operational management.

How does Modine plan to improve its coils business?

Modine plans to focus on reducing complexity and driving margin improvements in its coils business.