LIBERTY
CORNER, New Jersey and SHANGHAI, China --
July 18, 2005 -- Fedders Corporation,
a leading global manufacturer of air treatment
products, including air conditioners, air
cleaners, dehumidifiers and humidifiers, announced
that the Grand Opening of its new Air Treatment
Research and Development Center took place
on July 16, 2005.
Located
in the Qingpu District of Shanghai, the new
research and development center, which is
now Fedders' largest, joins nine other Fedders
research, engineering and lab facilities around
the world and more than doubles the company's
global engineering capabilities. In addition
to its proximity to Fedders five Yangtze River
Delta manufacturing facilities, the Center
is strategically located to enable collaboration
with local universities and research institutes
on special projects and will also enable closer
collaboration with the best suppliers of components
and raw materials in the industry.
Speaking
at the Grand Opening Ceremony, Fedders' President,
Michael Giordano commented, "Together
with Fedders' nine other R&D facilities,
our extensive, state-of-the-art, design and
testing facilities at Qingpu will enable us
to bring to market faster, new residential
and commercial air conditioning and heating
products, including room air conditioners,
central ducted air conditioners and gas heating
products, as well as residential, commercial
and industrial air cleaners, dehumidifiers
and humidification products. The new R&D
center will enable us to accelerate the development
of next generation products for all of the
markets we serve, and represents our commitment
to bringing Fedders' global customers world-class
products and services with the latest innovations,
the highest quality and the best value."
In
addition to the extensive design capabilities
in Qingpu, Fedders has relocated the headquarters
for its international supply chain operations,
including Quality, Manufacturing Engineering
and Global Sourcing, to the Qingpu facility,
to support the company's manufacturing facilities
around the world.
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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