Donaldson Company, Inc. (NYSE:DCI) today announced that it has completed
the previously-announced acquisition of Northern Technical L.L.C., a
manufacturer of gas turbine inlet air filtration systems and replacement
filters. The acquisition is expected to be accretive to earnings in
FY15. For reporting purposes, Northern Technical's results will be
included in the Company's Gas Turbine Products within the Industrial
Products segment.
"We would like to welcome the Northern Technical employees to the
Donaldson family," said Tod Carpenter, Donaldson's Chief Operating
Officer. "Northern Technical is a great strategic fit with our existing
Gas Turbine business as it will broaden our global product portfolio and
provide us with the opportunity to leverage their strong Customer
relationships in the Middle East, the world's largest gas turbine
market. The acquisition also helps us with three of our long-standing
diversification strategies by helping us to expand our presence in
industrial markets, focus on replacement parts, and add international
revenue."
About Donaldson Company
Donaldson is a leading worldwide provider of filtration systems that
improve people's lives, enhance our Customers' equipment performance,
and protect our environment. We are a technology-driven Company
committed to satisfying our Customers' needs for filtration solutions
through innovative research and development, application expertise, and
global presence. Our approximately 12,800 employees contribute to the
Company's success by supporting our Customers at our more than 140
sales, manufacturing, and distribution locations around the world.
Donaldson is a member of the S&P MidCap 400 and Russell 1000 indices,
and our shares trade on the NYSE under the symbol DCI. Additional
information is available at www.donaldson.com.
SAFE HARBOR STATEMENT UNDER THE SECURITIES REFORM ACT OF 1995
The Company desires to take advantage of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995 (the "Act") and is
making this cautionary statement in connection with such safe harbor
legislation. This announcement contains forward-looking statements,
including, without limitation, forecasts, plans, trends, and projections
relating to our business and financial performance and global economic
conditions, which involve uncertainties that could materially impact
results. All statements other than statements of historical fact are
forward-looking statements. These statements do not guarantee future
performance.
The Company wishes to caution investors that any forward-looking
statements are subject to uncertainties and other risk factors that
could cause actual results to differ materially from such statements,
including but not limited to risks associated with: world economic
factors and the ongoing economic uncertainty, the reduced demand for
hard disk drive products with the increased use of flash memory,
currency fluctuations, commodity prices, political factors, our
international operations, highly competitive markets, governmental laws
and regulations, including the impact of the various economic stimulus
and financial reform measures, the implementation of our new information
technology systems, information security and data breaches, potential
global events resulting in market instability including financial
bailouts and defaults of sovereign nations, military and terrorist
activities, including political unrest in the Middle East and Ukraine,
health outbreaks, natural disasters, and all of the other risk factors
included in our Annual Report on Form 10-K and Quarterly Reports on Form
10-Q. We undertake no obligation to publicly update or revise any
forward-looking statements.
Donaldson Company, Inc.
Rich Sheffer, 952-887-3753
Sep 30, 2014