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Fedders Corporation, a leading global manufacturer of air treatment products, including air-conditioners, air cleaners, dehumidifiers, and humidifiers, and thermal technology products, and Jiangsu Xingrong Hi-Tech Company Limited, a leading Chinese engineering and
manufacturing company specializing in the production of non-ferrous metal fabricating equipment and the production of copper tubing, announced the formation of a joint venture in Changzhou City, China to design, produce and market heat exchangers used in air-conditioners.
Mr. Xiao Kejian, chairman of the Board of Jiangsu Xingrong Hi-Tech Company Limited, said, "We look forward to partnering with Fedders Corporation, a leader in heat exchange technology for over 100 years."
Sal Giordano, Jr., chairman and chief executive officer, Fedders Corporation, said, "We are extremely pleased to partner with the leading producer of copper tubing manufacturing equipment in China. The state-of-the-art heat exchangers produced by this joint-venture will help keep Fedders at the forefront of air-conditioner heat exchange technology."
Fedders and Xingrong will each have a 50-percent interest in the joint venture, named Fedders Xingrong (Changzhou) Air Conditioner Components Co., Ltd.
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