Corporate News Releases
Fedders Engages The Blackstone Group
for Possible Sale of IAQ Businesses
CONTACT:
Robert Laurent, Jr.
(908) 604-8686
investorrelations@fedders.com
LIBERTY CORNER, New Jersey -- July 27, 2006 --Liberty Corner, NJ, - July 27, 2006- Fedders Corporation (NYSE: FJC), today announced that it has engaged The Blackstone Group to explore the possible sale of the company’s global indoor air quality (IAQ) businesses. The IAQ businesses are not core to the company’s principal global residential and commercial HVAC businesses.
Included in a possible sale would be the company’s North American IAQ production facility located in North Carolina, two factories in Suzhou, China and sales offices located in the U.S., the U.K., Germany, China, Malaysia and India.
This news release may include 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 www.fedders.com to access additional information on Fedders.
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