Modine (MOD) Up-Beat In Meeting - Modine Manufacturing (NYSE:MOD)

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Modine Manufacturing Company (NYSE: MOD) management highlighted a new company culture, new products, and a recovery in end markets during its meeting with JPMorgan analysts in Philadelphia. The management of the Overweight-rated company declared their goal to achieve a 50% share of the €250MM European cooling market over the next five years, powered by its Origami technology. Carrying a $140MM revolver that expires next summer and a $140MM term loan at 10.375%, they plan to renegotiate all their debt in 60 days.This plan will save 300+bps on interest and releasing current debt-holder constraints. MOD will also continue to hedge commodities and renegotiate with customers for quarterly price adjustments.

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