Lennox International Inc. (Dallas, TX) recently held its first-ever annual shareholder meeting as a public company. In reviewing its 1999 financial performance, the company announced total company revenue growth of 30%. Earnings before interest and taxes were up nearly 49% for the year, and net income increased nearly 40% to a new record level for the firm of over $73 million.
Lochinvar Corp. (Nashville, TN) announced that its fan-assisted copper products have received certification from the South Coast Air Quality Management District (AQMD) regarding NOx emissions, per Rule 1146.2 Administrative Certification Program. The purpose of the rule is to reduce NOx emissions from commercial water heaters, small industrial boilers, and process heaters. Lochinvar says that it is the first manufacturer to obtain certification.
Wirsbo Co. (Apple Valley, MN) is celebrating the American Lung Association’s Breathe Easy® Month, promoting that radiant floor heating is a healthy choice because it improves air quality.
Modine Airsystems (St. Paul, MN), a subsidiary of Modine Manufacturing Co., earned a Governor’s Safety Award from the Minnesota Safety Council for excellence in the workplace for safety and health.
Amaircare Corp. (Toronto, ON, Canada) announced that it has moved into a new, larger facility in Mississauga, ON. The new facility will enable the company to double production of its line of whole-house and portable HEPA filter systems.
Nortek, Inc. (Providence, RI) has announced a donation of $225,000, over four years, to the Heritage Harbor Museum toward its $34 million community campaign. Heritage Harbor is being developed on the Providence downtown riverfront. Nortek's pledge will help fund the construction of a full-scale recreation of a Rhode Island "Triple Decker" home that will educate visitors about early 20th century domestic life, housing, living conditions, and other aspects of neighborhood history.
Dectron Internationale Inc.
Dectron Internationale Inc. (Montreal, PQ, Canada) announced the results for its year ended January 31, 2000. Revenues for the year were $31,402,954 (U.S.), a 53.2% increase over prior year revenues of $20,495,340. Net earnings per common share, basic and diluted, was $.40 per share based on 2,795,000 shares outstanding as compared to $.54 per share based on 2,082,781 shares outstanding for the comparable period.
Buderus Group, AG
Buderus Group, AG (Wetzlar, Germany) announced financial results for the first half of financial year 1999-2000. The company increased sales by 5% and pre-tax profit by 37% from the corresponding previous year's period. Sales amounted to DM 1,693 million (Euro 866 million), and pre-tax profit amounted to DM 111 million (Euro 57 million).
In this issue of The NEWS, we present the Residential Heating Showcase, featuring the latest heating equipment to hit residential HVAC. We also discuss developments in the tools and test instruments market.