Corporate News Releases
Fedders Corporation Sells Polenz GmbH to ACE Klimatechnik
CONTACT:
Robert L. Laurent
Fedders Corporation
(908) 604-8686
http://www.fedders.com
LIBERTY CORNER, New Jersey -- December 22, 2006 -- Fedders Corporation (Pink Sheets: FJCC), a leading global manufacturer of air treatment products, announced that the sale of its German distribution company, Polenz GmbH, to ACE Klimatechnik, a subsidiary of Electra Consumer Products Ltd., was completed today. As previously announced, the purchase price was 5.5 million Euros in cash. The divestiture is in keeping with Fedders' plan to focus on its core markets in North America and Asia.
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 this announcement. Visit the Fedders investor information website at http://www.fedders.com to access additional information on Fedders.
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