Fedders Engages The Blackstone Group for Possible Sale of IAQ Businesses
July 27 2006 - 7:42PM
PR Newswire (US)
LIBERTY CORNER, N.J., July 27 /PRNewswire-FirstCall/ -- 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 principle 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 http://www.fedders.com/ to access additional
information on Fedders. DATASOURCE: Fedders Corporation CONTACT:
Robert Laurent, Jr. of Fedders Corporation, +1-908-604-8686, Web
site: http://www.fedders.com/
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