rack systems. These products preserve food and other perishables in supermarkets, convenience stores, restaurants, warehouses and distribution centers. In addition, its products are used to cool various industrial processes, including data centers, machine tooling, and other critical cooling applications. The company provides application engineering for consulting engineers, contractors, store planners, end customers and others to support the sale of commercial refrigeration products. In addition to providing refrigeration systems and display cases, it provides turnkey installations for its supermarket customers in Mexico. International: In international markets, the company manufactures and markets refrigeration products, including condensing units, unit coolers, air-cooled condensers, fluid coolers, compressor racks and industrial process chillers. The company has manufacturing locations in Germany, France, Brazil and China. In Australia and New Zealand, the company engages in wholesale distribution business and serves the heating, ventilation, air conditioning and refrigeration industry with approximately 60 locations serving its customers, which also includes the sale of refrigerant. In addition, the company owns a 50% common stock interest in a joint venture in Mexico that produces unit coolers, air-cooled condensers, condensing units, compressors and compressorized racks of the same design and quality as those manufactured by its U.S. business. This joint venture product line is complemented with imports from the U.S., which are sold through the joint venture's distribution network. Business Strategy The company’s business strategy is to sustain and expand its premium market position, as well as offer a spectrum of products to meet its customers' needs. The key elements of the company’s strategy include innovating product and system solutions; manufacturing and sourcing excellence; investing resources in expanding its distribution network; and growing its business by extending its successful business model and product knowledge into domestic and international markets. Marketing and Distribution The company’s products and services are sold through a combination of direct sales, distributors and company-owned parts and supplies stores. Dedicated sales forces and manufacturers' representatives are deployed across its business segments and brands in a manner designed to maximize its ability to service each distribution channel. The company uses three distinct distribution approaches in this market: the company-owned distribution system, the independent distribution system, and direct sales to end-users. The company distributes its Lennox and Aire-Flo brands in a company-owned process directly to independent dealers that install these heating and cooling products. Also, the company sells its products directly to customers through its Lennox PartsPlus stores. The company distributes its Armstrong Air, Ducane, Air-Ease, Concord, Magic-Pak and ADP Advanced Distributor Products brands through the traditional independent distribution process pursuant to which it sells its products to distributors who, in turn, sell the products to installing contractors. The company utilizes the Dave Lennox image in mass media advertising, as well as in various locally produced dealer advertisements, open houses and trade events. Seasonality The company’s markets are driven by seasonal weather patterns. Heating, ventilation and air conditioning products and services are sold year round, but the volume and mix of product sales and service change significantly by season. The industry ships roughly twice as many units during June as it does in December. Between the heating season (roughly November through February) and cooling season (roughly May through August) are periods commonly referred to as shoulder seasons when the distribution channel transitions its buying patterns from one season to the next. These seasonal fluctuations in mix and volume drive the company’s sales and related segment profit, resulting in somewhat higher sales in the second and third quarters (year ended December 31, 2015) due to the higher v
lennox international inc (LII:New York)
2140 Lake Park Boulevard
Richardson, TX 75080
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