Modine Signs Volvo Pact

Modine Manufacturing (MOD Quote), a designer of heating and cooling equipment, said Wednesday that it signed a three-year, $45 million contract to supply exhaust gas recirculation coolers to Volvo for use in heavy-duty diesel engines.

The EGR coolers will help the engines meet the new 2007 U.S. Environmental Protection Agency requirements for lower emissions.

"We're glad the high standards we employ to create and manufacture our products are valued by our customers," Modine said.

Shares of Modine were down 65 cents, or 2.8%, to $22.67.