Modine Wins $45M Contract to Supply Volvo with Exhaust Gas Recirculation Coolers to Meet New U.S. EPA Emissions Standards

July 5, 2006

The EGR cooler is part of the exhaust after treatment system that will make the engines meet the new 2007 United States Environmental Protection Agency requirements of 90 percent lower emissions for heavy-duty diesel engines starting in January, 2007.

The 170 employees at Modine’s Joplin, Missouri plant will produce the EGR coolers. “Modine has used disciplined APQP (Advanced Product Quality Planning) processes for a smooth development of EGR coolers that are both high-performing and durable combating the extreme conditions brought about by U.S. 2007 emissions requirements. We’re glad the high standards we employ to create and manufacture our products are valued by our customers,” said Jon Hitt, Modine’s Program Manager.

About Modine

Founded in 1916, with fiscal 2006 revenues from continuing operations of $1.6 billion, Modine specializes in thermal management systems and components, bringing highly engineered heating and cooling technology and solutions to diversified global markets. Modine products are used in light, medium and heavy-duty vehicles, HVAC (heating, ventilating, air conditioning) equipment, industrial equipment, refrigeration systems, fuel cells, and electronics. Based in Racine, Wisconsin, the company has approximately 8,000 employees at 34 facilities in 15 countries worldwide. For information about Modine, visit www.modine.com.

Statements made in this press release regarding future matters are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including those regarding a positive impact from new business programs, exploitation of technology, expansion into niche markets, incremental business and continuing market strength are based on Modine’s current expectations. Modine’s actual results, performance or achievements may differ materially from those expressed or implied in these statements because of certain risks and uncertainties including, but not limited to, market acceptance and demand for products and technologies; successful launch by Modine of the above described program; success of the above described platform in which Modine’s products are included; non-cancellation of the platform or Modine as a supplier; the ability of Modine, its customers and suppliers to achieve projected sales and production levels and avoid unanticipated product or manufacturing difficulties; and other factors affecting Modine’s business prospects discussed in filings made by Modine, from time to time, with the SEC including the factors discussed in the “Cautionary Factors” section in Item 7 of the Company’s most recent Annual Report on Form 10-K and its periodic reports on Form 10-Q. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact:
Modine Manufacturing Company
Investor Contact:
Wendy Wilson, 262-636-8434
w.wilson@na.modine.com
or
Media Contact:
Lori Stafford, 262-636-1001
l.stafford@na.modine.com


Source: Modine Manufacturing Company

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