Modine Manufacturing Company (NYSE: MOD), a global leader in designing and developing heating and cooling solutions for a diversified group of markets announced today that it has closed its acquisition of Radiadores Visconde Ltda. On April 20, 2006, Modine announced a tentative agreement to acquire the remaining 50 percent of Radiadores Visconde it did not already own. Modine paid $17 million - approximately 3.6 times EBITDA - and has an agreement to pay an additional $4 million based on certain performance goals. This acquisition is accretive immediately.
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