Fedders Purchases Majority Of Islandaire, Introduces Air Conditioner
Islandaire, which will now be Fedders Islandaire Co., manufactures and markets a line of specialized through-the-wall packaged terminal air conditioners (PTACs) and heat pumps.
It will be managed as an individual business unit, with Hansen remaining as president. Fedders intends to purchase the remaining 20% of the stock within three years. Islandaire sales in 2004 were approximately $26 million.