Over 27 million euros were invested in the factory, employing over 350 people, with an expected annual export surpassing 100 million euros and over 700 employees in the next three years

SREMSKA MITROVICA, April 23, 2024 - Modine Manufacturing Company, a diversified global leader in thermal management and technology solutions, proudly opened a new facility in Serbia. This expansion aims to meet the growing demand from the heat pump market in Europe and will focus on dedicated manufacturing of coils for commercial and residential heat pump applications.

The new production facility was symbolically inaugurated by the Minister of Defense, Miloš Vučević, the Ambassador of the United States of America, Christopher Hill, the President and Chief Executive Officer of Modine Manufacturing Company, Neil Brinker, and the Serbian Director of the company, Dejan Nestorović, by cutting the ceremonial ribbon.

Neil Brinker, the President and Chief Executive Officer of Modine, emphasized the company's commitment to innovative heating and cooling solutions, enhancing products used daily by people.

"Modine is dedicated to to advancing technology solutions with sustainable impacts," Brinker stated.

Ambassador Christopher Hill highlighted the importance of workforce in during today's ceremony. He noted Serbia's significant historical experience in manufacturing, attributing Modine's reinvestment choice to Sremska Mitrovica's plant to this expertise.

Addressing the attendees, Minister Vučević hailed the economic success not only for the American company but for the entire Serbia, Srem district, and Sremska Mitrovica.

"Today, we are gathered here thanks to the new investment of Modine in Sremska Mitrovica, witnessing the triumph of will, knowledge, partnership, and the dream that we can create an economic environment highly competitive within Southeast Europe and beyond," Vučević remarked.

He reminded that over 27 million euros were invested in the factory, with an expected annual export surpassing 100 million euros and over 700 employees in the next three years.

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, heating, ventilation and air conditioning equipment, off-highway and industrial equipment and refrigeration systems. Modine is a global company headquartered in Racine, USA. Modine operates on five continents and currently employs over 11,500 workers worldwide. Its Serbian plant focuses on manufacturing heat exchangers for heat pumps, currently employing 448 workers.

PHOTO:TANJUG/ MARIJANA JANKOVIĆ