Modine to close Florida plant after signing coating license deal
USA: Modine is to close its coil coating plant in Pompano Beach, Florida, after signing a strategic partnership and license agreement with Advancoat LLC.
Founded in 2011 and based in nearby Boca Raton, Advancoat provides corrosion protection and IAQ solutions for the HVACR industry. The agreement allows Advancoat to provide Modine’s Insitu coatings services to the South Florida market.
Operating under the Heatcraft brand, Modine is the largest independent coil producer, offering some of the most diverse and highly specialised ranges of metal products available anywhere in the world.
As part of this agreement, Modine will close its Pompano Beach facility. The company says that this is in line with its strategy to expand its coatings business through strategic licensing agreements.
The Pompano Beach factory was acquired along with the purchase of Luvata HTS in 2016.
“This strategy will allow for the geographic expansion of the delivery of coatings products and services, while allowing internal resources to focus on new product development and overall channel management,” Modine says in a press statement.
“This is an important and timely step in our global coatings growth strategy,” said Modine CIS Coatings VP Mike Powell. “Partnering with a well-established firm like Advancoat ensures that all of our South Florida customers will continue to have uninterrupted access to the Insitu corrosion protection products and to receive the high quality coating services they have come to expect. In addition, Modine will continue to manage our important OEM national account customer through our licensee network.”
This announcement follows a very active period in Modine licensee growth, which has resulted in more than 90 licensed applicators in the Americas region.