LIBERTY CORNER, N.J. and EAST SETAUKET, N.Y., Jan. 18 /PRNewswire-FirstCall/ -- Fedders Corporation, a leading global manufacturer of air treatment products, announced that it has sold the assets of its Fedders Islandaire, Inc. ("Islandaire") subsidiary to Robert E. Hansen, Jr., President of Islandaire.
The sale was completed today, following yesterday's approval by the US Bankruptcy Court overseeing Fedders' Chapter 11 proceedings. Islandaire is a manufacturer of packaged terminal air conditioners and will now operate under the name, Islandaire, Inc.
For more information about Fedders and the reorganization, visit http://www.fedders.com/.
About Fedders:
Founded in 1896, Fedders Corporation is a leading global manufacturer of air treatment products, including air conditioners, furnaces, air cleaners and humidifiers for residential, commercial and industrial markets.
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 this announcement. Visit the Fedders investor information website at http://www.fedders.com/ to access additional information on Fedders.
