Fedders Acquires Polenz GmbH

LIBERTY CORNER, N.J — Fedders Corporation, a leading global manufacturer of air treatment products, including air conditioners, air cleaners, dehumidifiers and humidifiers, and thermal technology products, announced that it has acquired Polenz GmbH, the premier air treatment products distributor in Germany, from Senior plc.

Headquartered in Norderstedt, Polenz distributes a broad line of heating, ventilating, and air conditioning products.

Polenz has ten sales offices and service centers located throughout Germany and distributes products under leading industry brand names as well as under its own brands.

Commenting on the acquisition, Fedders Chief Executive Officer, Sal Giordano, Jr. stated, “Polenz’s well-established distribution of air treatment products in Germany should enable Fedders to expand sales of its commercial and industrial products, including cleanroom fan filter units for the semi-conductor, medical, and pharmaceutical industries, environmental control systems for the wireless telecom industry, and advanced electronic air cleaning and humidification systems.”

Ulrich Thaufelder, Managing Director of Polenz GmbH, commented, “We are pleased to be a part of Fedders Corporation, a company that has over 100 years experience in heat transfer. Fedders products perfectly complement our existing products and distribution and we look forward to serving a broader part of the air treatment market.”

Polenz had 54 million DM (US$25.6 million) in revenues in 2000. The purchase price was not disclosed.


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