On May 16, Racine, Wisconsin-based Modine Manufacturing Company — a manufacturer of heat transfer coils — announced it is expanding operations at its current location in Sremska, Serbia, to meet growing demand from the heat pump market in Europe.
When finished later this year, the new facility is expected to be a dedicated manufacturer of coils for commercial and residential heat pump applications, Modine said in a news release.
“We are excited to expand our manufacturing operations in Serbia to serve our key customers in Europe and beyond,” said Eric McGinnis, President of Climate Solutions for Modine. “The market for heat pumps is experiencing tremendous growth in Europe and we want our manufacturing centers closer to our key customers. Serving them with best-in-class heat transfer technology that reduces energy consumption and lowers harmful emissions is one way Modine lives out our purpose of engineering a cleaner, healthier world.”
Government regulation to reduce fossil fuel consumption and greenhouse gas emissions across industries has led to “increased policy support and incentives to install heat pumps,” Modine said. The International Energy Agency forecasts that yearly heat pump sales in the European Union will reach 7 million units by 2030, according to the news release.
“The new production facility in Serbia underscores Modine’s commitment to providing the highest quality coils to our customers,” said Modine Mike Postma, Vice President and General Manager, Heat Transfer Products. “We look forward to working with our customers and suppliers as we expand our operations in the region. At the same time, we are proud to be part of the Serbian business community and excited about the new jobs we are creating.”