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The Carideo Group Inc.
1250 One Financial Plaza
120 South Sixth Street
Minneapolis, MN 55402
Tony Carideo
(612) 317-2880
tony@carideogroup.com |
Donaldson Company, Inc.
P.O. Box 1299
Minneapolis, MN 55440
(NYSE: DCI)
Rich Sheffer
(952) 887-3753
rsheffer@mail.donaldson.com
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MINNEAPOLIS, August 02 Donaldson Company, Inc. (NYSE:DCI) announced today it would add a second production line at its Cresco, Iowa, manufacturing facility to produce its ground-breaking PowerCore filtration technology used in automotive, truck and off-road applications.
"After considering several locations for this project, Donaldson has determined that the plant in Cresco is the right place for the PowerCore line," said Cary Olson, general manager of air filtration. "A number of factors led to this decision including the support of the Iowa Department of Economic Development, the Howard County Economic Development Agency and the Cresco Industrial Development Corporation."
The new line, which will be completed this month, will result in total PowerCore production capacity of an estimated 1.5 million filters per year. To date, the Cresco facility has manufactured the 1.2 million PowerCore filters the company has sold. Cresco also produces axial seal, radial seal and V-pack air filters. The plant employs approximately 400 workers.
"We're delighted that Donaldson chose the Cresco plant for this new line," said Jacque Hahn, executive director, Howard County Economic Development. "We've tried to be very aggressive in attracting new economic development to our community and we're very pleased that we were able to work together to make this happen."
About Donaldson Company, Inc.
Donaldson Company, Inc., headquartered in Minneapolis, is a leading worldwide provider of filtration systems and replacement parts. Founded in 1915, Donaldson is a technology-driven company committed to satisfying customer needs for filtration solutions through innovative research and development. Donaldson serves customers in the industrial and engine markets including dust collection, power generation, specialty filtration, compressed air purification, off-road equipment, industrial compressors, and trucks. Our 10,000 employees contribute to the company's success at over 30 manufacturing locations around the world. In fiscal year 2003, Donaldson reported sales of more than $1.2 billion and achieved its 14th consecutive year of double-digit earnings growth. Donaldson is a member of the S&P MidCap 400 Index and Donaldson shares are traded on the New York Stock Exchange under the symbol DCI. Additional company information is available at www.donaldson.com