Clarcor buys Filter Resources Group
Published on by Water Network Research, Official research team of The Water Network in Business
Clarcorannounced thatit has Filter Resources, Inc., Filtration Inc. and Fabrication Specialties, Inc. - relatedcompanies that manufacture and distribute filters to the petrochemical and refining industries
The acquired business has annualrevenue of approximately $20 million and will be part of CLARCOR's PECOFacet group ofcompanies, which is included within CLARCOR's Industrial/Environmental Filtration segment.The acquisition is not anticipated to be materially accretive or dilutive to CLARCOR's 2015earnings.Christopher L. Conway, CLARCOR's Chairman, President and Chief Executive Officercommented, "Filter Resources is a long-time distributor of PECOFacet products with localmanufacturing capabilities and strong customer relationships throughout the gulf coast regionearned through their timely order fulfillment and excellent customer service. We look forward toleveraging these strengths to allow PECOFacet to better support the petrochemical and refiningmarkets, markets which have unique and demanding filtration needs. We believe that thecombination of Filter Resources and PECOFacet will allow us to deliver even more value andbetter filtration solutions to refineries and petrochemical customers throughout the gulf coast."
CLARCOR is based in Franklin, Tennessee, and is a diversified marketer and manufacturer ofmobile, industrial and environmental filtration products and consumer and industrial packagingproducts sold in domestic and international markets. Common shares of CLARCOR are traded onthe New York Stock Exchange under the symbol CLC. F
Source : Clarcor company wesite
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