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Lennox to sell another refrigeration business to focus on stronger purchases

kysorwarren

Lennox has announced plans to sell Kysor Warren, its US refrigerated display case manufacturing business.

The move follows last year’s divestment of its refrigeration businesses in Australia, Asia and South America. 

Announcing record revenues and profit in 2018, Todd Bluedorn, chairman and CEO at Lennox International, said: “We plan another divestiture in 2019 with the sale of the Kysor Warren business within our refrigeration segment to focus on our businesses that have strong market positions and fit our growth profile.”

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Established over 135 years and based in Columbus, Georgia, Kysor Warren operates as a subsidiary of Heatcraft Refrigeration Products LLC. The business was acquired by Lennox in 2011 from Manitowoc.

Bluedorn said: “Lennox International posted a record year for revenue, profitability, and cash generation in 2018 while working through the challenges from tornado damage at a large manufacturing facility and further focusing our business portfolio with refrigeration divestitures in Australia, Asia and South America.”

Lennox’s revenue was up by 4% to $3.8bn for the full year, excluding the impact from divestitures. The tornado which hit its air conditioning factory in Marshalltown, Iowa, last year had a negative impact of 3% on revenue growth for the full year.

Lennox International Inc. is an intercontinental provider of climate control products for the heating, ventilation, air conditioning, and refrigeration markets.

Tags : divestmentKysor WarrenLennoxRefrigerationselling
Carly Hacon

The author Carly Hacon

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