Nortek Inc (NTK) is a global manufacturer and distributor of air management and technology solutions for residential and commercial applications. The company operates in two segments, Residential and Commercial.
The Residential segment provides air conditioning systems, indoor air quality products, heating and cooling solutions, ventilation products, and air handlers. The Commercial segment offers custom air handling solutions, environmental control systems, and other air management products for data centers, hospitals, schools, commercial buildings, and other applications.
Nortek was founded in 1967 and is headquartered in Providence, Rhode Island. The company has manufacturing and distribution facilities in North America, Europe, and Asia, and employs approximately 10,000 people worldwide.
In recent years, Nortek has undergone a number of significant changes. In 2016, the company was acquired by Melrose Industries PLC, a UK-based manufacturing and engineering company. In 2018, Nortek announced that it would be divesting its air distribution and industrial ventilation businesses in order to focus on its core businesses in residential and commercial air management solutions.
Nortek faces competition from a range of companies in the air management and technology solutions industry, including Johnson Controls, Carrier, Daikin, Trane, and Lennox International, among others.
Investors in Nortek can expect to closely monitor the company's financial performance, including its revenue growth, profitability, and cash flow generation, as well as its ability to successfully navigate the ongoing market and competitive pressures in the air management and technology solutions industry.
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