Fedders to Increase China Investments

March 20, 2001 — LIBERTY CORNER, NJ — Fedders Corporation, a global manufacturer of air treatment products, including air conditioners, air cleaners, dehumidifiers and humidifiers, and thermal technology products is planning a major expansion of activities and an increase in its investments in China.

These include, but are not limited to:

Fedders subsidiary, Envirco Corporation, will establish a 100 percent owned factory to produce filtering systems for cleanrooms used in the production of semi-conductors and hard drives as well as for the biotech, medical and pharmaceutical industries.

“Going forward, the great majority of fabrication facilities for the production of microprocessors will be built in Asia, especially China. This new facility will enable us to be closer to our customers,” said Dr. Daryl Erbs, senior vice president, international.

Melcor Corporation, Fedders’ thermal technology company, will enter a joint venture to increase production of thermoelectric coolers, which precisely control temperature in applications such as fiber optics, microprocessor testing and DNA research.

A research and development facility will be built in China to support all of Fedders’ air treatment and thermal technology products. This will be Fedders’ only R&D center, which supports all of the company’s operating units. The location of the three new facilities has not been finalized.

“In order to support these new activities as well as existing operations, I am pleased to announce the appointment of Michael Shiu as Country Manager for China. Mr. Shiu has also been appointed a corporate officer,” Erbs said. “In addition to his new responsibilities, Mr. Shiu will continue as president, Fedders Xinle Co. Ltd., Fedders Corporation’s air conditioner joint venture in Ningbo, China.”


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