A Cooling Play That's Heating UpBy
York International is a creation of the 1980s. Spun off by parent Borg-Warner in 1986, York became a publicly traded company only to be swallowed up two years later by an investor group in a leveraged buyout. Well, guess what? York International, maker of heating, air-conditioning, and refrigeration products, is back, taken public again last October by its owners at $23 a share. The surprise is that even though York's business is tied to housing and construction, its stock has been doing very well indeed--trading now at 34.
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