Lennox to sell Kysor Warren refrigeration business
USA: Lennox has announced plans to sell Kysor Warren, its US refrigerated display case manufacturing business.
The move follows last year’s divestment of its refrigeration businesses in Australia, Asia and South America.
Announcing record revenues and profit in 2018, Lennox International chairman and CEO Todd Bluedorn said: “We plan another divestiture in 2019 with the sale of the Kysor Warren business within our refrigeration segment to focus on our businesses that have strong market positions and fit our growth profile.”
Established over 135 years and based in Columbus, Georgia, Kysor Warren operates as a subsidiary of Heatcraft Refrigeration Products LLC. The business was acquired by Lennox in 2011 from Manitowoc.
“Lennox International posted a record year for revenue, profitability, and cash generation in 2018 while working through the challenges from tornado damage at a large manufacturing facility and further focusing our business portfolio with refrigeration divestitures in Australia, Asia and South America,” said chairman and CEO Todd Bluedorn.
Lennox’s adjusted revenue for the full year, excluding the impact from divestitures, was $3.81bn, up 4%. The tornado which hit its Marshalltown, Iowa, air conditioning factory last July had a negative 3% impact on revenue growth for the full year.
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