DALLAS, Feb. 4 /PRNewswire-FirstCall/ -- Lennox International Inc. (NYSE:
LII) today announced that its Allied Air Enterprises subsidiary plans to
consolidate operations from Blackville, South Carolina into its current
operations in Orangeburg, South Carolina and its LII United Products facility
in Saltillo, Mexico. Lennox International expects to incur restructuring
charges related to these activities of approximately $12 million, primarily in
the first quarter of 2009, and expects annual savings of $5 million beginning
in 2011. The transition of production from Blackville to the other facilities
will take place in phases starting in 2009 and is expected to be completed
within two years.
"In this challenging market environment, consolidating our Blackville
factory operations into Orangeburg and Saltillo is necessary to further
improve our operating efficiency, eliminate redundant fixed costs, and provide
our customers with improved service," said Doug Young, President and COO, LII
Residential.
"This decision is not based on the performance of our Blackville
workforce, but on the challenging market conditions," said Dan Seaman, vice
president and general manager, Allied Air Enterprises. "We are committed to
treating our employees fairly and equitably throughout this process, and we
will work with them to help ease the transition."
Allied Air Enterprises manufactures and markets the popular Armstrong Air,
Ducane, AirEase, Magic-Pak(R), and Concord brands of air conditioning and
heating equipment, sold primarily through wholesale distribution to HVAC,
plumbing, and other dealers and contractors. Allied Air Enterprises is a
subsidiary of Lennox International Inc. Through its subsidiaries, Lennox
International Inc. is a global leader in the heating, ventilation, air
conditioning, and refrigeration markets. Lennox International stock is traded
on the New York Stock Exchange under the symbol "LII." Additional information
is available at: www.lennoxinternational.com or by contacting Ozzie Buckler,
director, communications and public relations, at 972-497-7456.
SOURCE: Lennox International Inc.
CONTACT:
Ozzie Buckler, director, communications and public relations of
Lennox International Inc.
+1-972-497-7456
Web Site:
http://www.lennoxinternational.com/