Modine unveils new infrared heaters for commercial use By Investing.com
RACINE, Wis. – Modine (NYSE:) Manufacturing Company (NYSE: MOD), known for its HVAC industry solutions, has expanded its range of heating products with the introduction of two new infrared heaters, the MEQ and MES series. These heaters are designed to provide efficient heating for both indoor and outdoor spaces, including patios, restaurants, workshops, and studios.
The company’s Vice President and General Manager of the Heating business, Jon Schlemmer, emphasized Modine’s commitment to meeting the heating needs of both commercial and residential customers. The MEQ series features a high-intensity, low-light Tungsten bulb that delivers instantaneous directional heat, ideal for windy environments. It is encased in a weatherproof enclosure suitable for both indoor and outdoor applications and comes with a remote control. The MEQ heaters are capable of power outputs up to 4800 watts, making them a viable option for restaurant patios and similar settings.
On the other hand, the MES series is designed to provide long-wave radiant and convective heat, which is consistent and powerful yet operates without light. This makes the MES series suitable for moderate climates and enclosed or partially enclosed spaces, such as solariums and workshops, where minimal wind exposure is expected.
Both the MEQ and MES heaters operate quietly and can be mounted on walls or ceilings. Their modern design includes powder-coated aluminum bodies that are resistant to corrosion and deformation over time, ensuring durability and longevity.
The introduction of these new heating solutions is part of Modine’s ongoing efforts to expand its electric portfolio and maintain its position in the market as a provider of innovative heating solutions.
This announcement is based on a press release statement from Modine Manufacturing Company.
Modine Manufacturing Company (NYSE: MOD) has recently broadened its product offerings with the launch of the MEQ and MES series infrared heaters, targeting diverse heating needs. As Modine strengthens its position in the HVAC market, let’s look at some key insights from InvestingPro that may interest investors:
InvestingPro Data highlights a solid financial foundation for Modine, with a market capitalization of $3.82 billion USD and a Price/Earnings (P/E) ratio of 17.04, indicating investor confidence in the company’s earnings potential. Additionally, the company’s revenue growth over the last twelve months as of Q3 2024 stands at 7.46%, reflecting a steady upward trajectory in sales.
InvestingPro Tips suggest that Modine is experiencing significant stock price movements, with a high return over the last year of 224.09%. This volatility might attract investors looking for growth opportunities. Moreover, the company’s liquid assets surpassing short-term obligations, paired with a moderate level of debt, indicates a stable financial position, which could reassure potential investors about the company’s ability to manage its finances effectively.
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