Fedders Creates Unitary Products Operating Unit; Mark Eubank Named President, Unitary Products

Apr 26, 2001, 01:00 ET from Fedders Corporation

    LIBERTY CORNER, N.J., April 26 /PRNewswire/ -- Fedders Corporation
 (NYSE:   FJC), a leading global manufacturer of air treatment products,
 including air conditioners, air cleaners, dehumidifiers and humidifiers, and
 thermal technology products, announced today that it has created a unitary
 products business unit to expand further its North American presence in the
 residential and commercial heating, ventilating, and air conditioning (HVAC)
 market.  Effective May 1, 2001, Fedders will be organized around the following
 four operations:  Fedders Unitary Products, Fedders Appliances, Fedders
 Engineered Products, and Fedders International.
     The new unitary operating unit is comprised of two sub-units from Fedders
 Engineered Products and two sub-units from Fedders North America.  From
 Engineered Products are Eubank Manufacturing Enterprises, Inc., a manufacturer
 of unitary and telecommunications air conditioners and Sun Air Conditioning,
 Inc., a manufacturer of telecommunications air conditioners.  From Fedders
 North America are Columbia Specialties, Inc., a components manufacturer and
 the regional sales force which is responsible for sales to HVAC distributors
 of air conditioners, humidifiers and air cleaners.  The other operations of
 Fedders North America, now to be called Fedders Appliances, will focus on the
 manufacture and sale of room air conditioners, dehumidifiers and appliance air
 cleaners for the United States and Canada.
     In conjunction with the reorganization, Mark Eubank, currently President
 of Eubank Manufacturing, will become president of the new unitary products
 unit.  Mr. Eubank has also been elected a corporate officer of Fedders.
     Commenting on the reorganization plan, Vice Chairman and Chief Executive
 Officer, Sal Giordano, Jr. stated, "The realignment of our businesses is a
 response to our successful acquisition program, which has created additional
 opportunities for the company's products in the air treatment industry."  Mark
 Eubank added, "The unitary products market globally is a $7 billion market,
 $5 billion of which is in the U.S.  The creation of a focused unitary products
 unit will enable us to capitalize on these opportunities."
 
     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 announcement. Visit the
 Fedders investor information website at http://www.fedders.com to access
 additional information on Fedders.
 
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SOURCE Fedders Corporation
    LIBERTY CORNER, N.J., April 26 /PRNewswire/ -- Fedders Corporation
 (NYSE:   FJC), a leading global manufacturer of air treatment products,
 including air conditioners, air cleaners, dehumidifiers and humidifiers, and
 thermal technology products, announced today that it has created a unitary
 products business unit to expand further its North American presence in the
 residential and commercial heating, ventilating, and air conditioning (HVAC)
 market.  Effective May 1, 2001, Fedders will be organized around the following
 four operations:  Fedders Unitary Products, Fedders Appliances, Fedders
 Engineered Products, and Fedders International.
     The new unitary operating unit is comprised of two sub-units from Fedders
 Engineered Products and two sub-units from Fedders North America.  From
 Engineered Products are Eubank Manufacturing Enterprises, Inc., a manufacturer
 of unitary and telecommunications air conditioners and Sun Air Conditioning,
 Inc., a manufacturer of telecommunications air conditioners.  From Fedders
 North America are Columbia Specialties, Inc., a components manufacturer and
 the regional sales force which is responsible for sales to HVAC distributors
 of air conditioners, humidifiers and air cleaners.  The other operations of
 Fedders North America, now to be called Fedders Appliances, will focus on the
 manufacture and sale of room air conditioners, dehumidifiers and appliance air
 cleaners for the United States and Canada.
     In conjunction with the reorganization, Mark Eubank, currently President
 of Eubank Manufacturing, will become president of the new unitary products
 unit.  Mr. Eubank has also been elected a corporate officer of Fedders.
     Commenting on the reorganization plan, Vice Chairman and Chief Executive
 Officer, Sal Giordano, Jr. stated, "The realignment of our businesses is a
 response to our successful acquisition program, which has created additional
 opportunities for the company's products in the air treatment industry."  Mark
 Eubank added, "The unitary products market globally is a $7 billion market,
 $5 billion of which is in the U.S.  The creation of a focused unitary products
 unit will enable us to capitalize on these opportunities."
 
     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 announcement. Visit the
 Fedders investor information website at http://www.fedders.com to access
 additional information on Fedders.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X86588655
 
 SOURCE  Fedders Corporation