International. Modine Manufacturing Company recently announced its intention to close its manufacturing facility in Gailtal, Austria. The company explains that this action reflects its proactive focus on constantly strengthening its business by reducing excess capacity and operating production facilities at scale around the world.
The closure is estimated to affect approximately 142 employees.
The Gailtal, Austria, plant historically manufactured coils for a variety of end markets and had annual sales of approximately €20 million. Modine will provide affected employees with compensation benefits and will work closely with local government and works councils to comply with all local regulations and find the best solution for affected employees.
"Making the decision to close a facility is never easy," said Dennis Appel, vice president of Commercial and Industrial Solutions. "However, our Strengthen, Diversify and Grow strategy remains a fundamental element of our business, and as a result, we continue to look for opportunities to reduce excess capacity. Therefore, we have made the difficult decision to consolidate our European operations by closing our manufacturing facility in Gailtal, Austria. In addition, we are committed to making the transition as seamless as possible for our customers and to helping our affected employees during the transition."
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