Fedders Names Peter Gasiewicz Senior Vice
President, Fedders Corporation and President,
Fedders North America
CONTACT:
Robert Laurent, Jr.
(908) 604-8686
investorrelations@fedders.com
LIBERTY
CORNER, New Jersey -- April 18, 2005 --
Fedders Corporation (NYSE: FJC), a leading global
manufacturer of air treatment products, including
air conditioners, air cleaners, dehumidifiers
and humidifiers, and thermal technology products,
today announced that it has appointed Peter
Gasiewicz, Senior Vice President, Fedders Corporation
and President, Fedders North America.
Mr.
Gasiewicz will have direct responsibility for
the company's Commercial HVAC, Residential HVAC,
and Indoor Air Quality operating units and sales
activities in North America and is charged with
more closely aligning these businesses and their
respective product lines to maximize growth
and profitability.
Mr.
Gasiewicz has extensive residential and commercial
HVAC and indoor air quality experience gained
throughout his career in the air treatment industry.
He has held positions of increasing responsibility
with Melco, ZoneAire, American Air Filter and
from 1987, with International Comfort Products/Carrier
Corporation (ICP), a division of United Technologies.
In 2003 he was appointed Vice President and
General Manager of ICP, with responsibility
for the company's substantial market share and
revenue. Prior to 2003, he held various positions
including Vice President, Sales and Marketing
for ICP's global operations from 2000 to 2002,
Vice President, U.S. Sales from 1997 to 2000
and from 1996 to 1997, Vice President of National
Accounts and Company-Owned Branches. Mr. Gasiewicz
has a Bachelor's degree in Economics from Ramapo
College in New Jersey, various industry technical
certifications and is a Vietnam Era Veteran
of the United States Marine Corps.
Commenting
on the appointment of Mr. Gasiewicz, Fedders'
President, Michael Giordano said, "Pete
is a proven HVAC industry veteran who brings
to Fedders a wealth of experience. Fedders is
well-positioned, with a broad line of air treatment
products, including residential and commercial
air conditioning and gas heating products, and
residential, commercial and industrial air cleaning
and humidification products to grow the business.
With our extensive mass production facilities
in Asia, a new state-of-the-art research and
development center in China, and flexible manufacturing
and design facilities in the US, we intend to
continue our significant expansion in the broader
North American HVAC market under Pete's leadership."
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 announcement. Visit the Fedders
investor information website at http://www.fedders.com
to access additional information on Fedders.
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