NEW YORK, July 11 (Reuters) - Modine Manufacturing Co. said on Monday its board has set July 21 as the date to spin off its aftermarket business.
Modine, the maker of radiators and other car and truck parts, said the afterparts business will merge into Transpro Inc. to form a new company, Proliance International Inc.
Modine shareholders will receive 0.24 Proliance shares for every Modine share held on July 21. Modine shareholders will own 52 percent of the new company, ...
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