LIBERTY CORNER, N.J., and Shanghai, China, Jan. 23 /PRNewswire-FirstCall/
-- Fedders Corporation (NYSE: FJC), a leading global manufacturer of air
treatment products, including air conditioners, air cleaners, dehumidifiers
and humidifiers and thermal technology products, announced today it is
establishing a research and development center in China.
The R & D Center will be located in the Qingpu District of Shanghai. Alex
T. Lim, Vice President, International Design Centers for Fedders stated, "This
location is ideal because of its proximity to Fedders' five Yangtze River
Delta manufacturing facilities, our new International Headquarters in downtown
Shanghai, and to University City. Some of the many advantages of this
location are closer proximity to our supplier base and access to a large group
of talented engineers."
The R & D Center will be state-of-the-art, with the capability for full
product development and testing of the Company's residential and commercial
air conditioning and heating products, which are sold in markets around the
world. The new R & D Center will consolidate existing engineering facilities
located in Singapore and Ningbo and Nanjing, China into one central location.
Ground breaking is scheduled for this month with the opening ceremony
scheduled for later this year. Mr. Yu Hai Ping, General Manager, Shanghai
Qingpu Industrial Development Co., Ltd. said, "We are very pleased that the
leading producer of air conditioners in China has chosen our industrial park
for its new research and development center. As a truly global company with
nine facilities already in China, we are delighted that Fedders will now have
an important presence in the district of Qingpu."
This news release includes forward-looking statements that are covered
under the "Safe-Harbor" clause of the Private Securities Litigation Reform Act
of 1995. Such statements are based upon current expectations and assumptions.
Actual results could differ materially from those currently anticipated as a
result of known and unknown risks and uncertainties including, but not limited
to, weather and economic, political, market and industry conditions and
reliance on key customers. Such factors are described in Fedders' SEC
filings, including its most recently filed annual report on Form 10-K. The
company disclaims any obligation to update any forward-looking statements to
incorporate developments occurring after release of this announcement. Visit
the Fedders investor information website at http://www.fedders.com to access
additional information on Fedders.
SOURCE Fedders Corporation
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Related links:
http://www.fedders.com
CONTACT:
Michael Giordano of Fedders Corporation,
+1-908-604-8686, investorrelations@fedders.com
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