Modine launches coil production unit at Serbian factory

The new unit will manufacture coils for commercial and residential heat pump applications, the agency said in a press release on Tuesday.

Modine's Serbian factory has a staff of 448 which it plans to expand to 700 within the next three years.

The U.S. company has invested over 27 million euro ($28.9 million) in its Serbian factory so far.

It expects its exports to bring in over 100 million euro in the next three years.

Modine set foot in Serbia in November 2016 by acquiring the factory of Finnish company Luvata in Sremska Mitrovica. The company designs, manufactures and tests heat transfer products for a wide variety of applications and markets.

($ = 0.9357 euro)