Modine signs $45 million Volvo contract

The 170 employees at the company’s Joplin plant will produce the EGR coolers, according to a news release.

The EGR cooler is part of an exhaust treatment system that will make the Volvo engines meet the new 2007 U.S. Environmental Protection Agency requirements to cut heavy-duty diesel engine emissions by 90 percent starting in January 2007.

“Modine has used disciplined (Advanced Product Quality Planning) processes for smooth development of EGR coolers that are both high-performing and durable, combating the extreme conditions brought about by U.S. 2007 emissions requirements,” said Jon Hitt, Modine’s program manager, in the release. “We’re glad the high standards we employ to create and manufacture our products are valued by our customers.”

Shares of Racine, Wisc.-based Modine (NYSE: MOD) closed down 81 cents at $22.51 on Wednesday, compared to a 52-week range of $21.88 to $37.98.