"Despite difficult global market conditions, Baltimore Aircoil is on track to post outstanding results for fiscal-year 2003," stated Steven S. Duerwachter, president. "Our success this year, and for the past 65 years, can be attributed to an unwavering commitment to research and development and a relentless pursuit of operational efficiency. These efforts have enabled our products to lead the industry in technology and cost effectiveness."

The new corporate headquarters, R&D facility, and plant expansions are key to BAC's growth initiatives, Duerwachter added. When completed in 2004, the R&D facility will be one of the most advanced in the industry, he noted. It will feature an extensive array of environmental testing labs for the development of refrigeration, evaporative heat rejection, and thermal storage technology, and will incorporate state-of-the-art measurement and data acquisition capability.

The Delaware and Illinois plant expansions come on the heels of similar manufacturing growth at plants in Heist-op-den-Berg, Belgium, and Chiuro, Italy. The Milford and Paxton expansions will eliminate duplicate manufacturing facilities on the East Coast, effectively transferring 150 jobs. As a result, BAC will begin to transfer production out of the Baltimore plant in October, with complete phaseout scheduled for Jan. 1, 2004.

"These growth initiatives will enable Baltimore Aircoil to continue serving our customers effectively both here and abroad," Duerwachter said. "Our goal is simple — to provide customers with innovative product technology at market-competitive prices. We are poised to accomplish this goal and maintain our leadership position in the industry."

For more information, visit www.baltimoreaircoil.com.

Publication date: 07/07/2003