United States. Modine Manufacturing Company announced the signing of a strategic partnership and licensing agreement with Advancoat LLC, an engineering firm dedicated to providing corrosion protection and indoor air quality solutions for the HVAC/R industry located in Pompano Beach, FL. This agreement allows Advancoat to provide Insitu® coating services to the South Florida market.
As part of this agreement, Modine will close its facility in Pompano Beach, FL. This decision is in line with the company's strategy to grow its coatings business by entering into strategic licensing agreements with high-quality partners. This strategy will enable geographic expansion of coating product and service delivery, while allowing internal resources to focus on new product development and overall channel management.
"This is an important and timely step in our global Coatings growth strategy," said Mike Powell, vice president of Modine CIS Coatings. "Partnering with a well-established company like Advancoat ensures that all of our South Florida customers will continue to have uninterrupted access to Insitu® corrosion protection products and receive the high-quality coating services they expect. In addition, Modine will continue to manage our important OEM national account customer through our network of licensees."
This announcement follows a very active period in Modine's licensing growth, which has resulted in more than 90 licensed applicators in the Americas region.
