MINNEAPOLIS--(BUSINESS WIRE)--
Donaldson Company, Inc. (NYSE: DCI) today announced that it has
completed the previously announced acquisition of certain business
assets from Industrias Partmo, S.A., in Bucaramanga, Colombia, through
its new wholly owned subsidiary, Filtros Partmo, S.A.S.
“We are excited to complete the Partmo acquisition, and we welcome
Partmo’s customers and employees,” said Guillermo Briseño, Donaldson’s
vice president for Latin America. “Partmo® is a leading brand
of replacement filters in Colombia and other countries in Latin America.
Their product lines and distribution partners will complement
Donaldson’s existing business in the region.”
“The acquisition of Partmo represents another milestone as we continue
to make investments throughout Latin America,” said Tod Carpenter,
president and chief executive officer. “In recent years we have opened
distribution centers in Chile, Peru and Colombia, and expanded our
manufacturing operations in Mexico and Brazil. The Partmo operation
expands our sales, engineering and manufacturing capabilities in
Colombia. Partmo is also our first production plant for engine liquid
filters in South America.”
Partmo has a 54-year tradition of manufacturing and distributing air,
lube and fuel filters for medium- and heavy-duty engines. Donaldson
expects the acquisition will contribute annual revenue of approximately
$14 million to its Engine Products segment.
Miscellaneous
Donaldson previously announced the acquisition of Industrias Partmo,
S.A. in July, 2015. For more information about Donaldson, visit the
Investor Relations website at IR.Donaldson.com.
Statements in this release regarding future events and expectations,
such as forecasts, plans, trends and projections relating to the
Company’s business and financial performance, are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, and are identified by words or phrases such as
“estimate,” “project,” “believe,” “expect,” “anticipate,” “forecast,”
and similar expressions. These forward-looking statements speak only as
of the date such statements are made and are subject to risks and
uncertainties that could cause the Company’s results to differ
materially from these statements. These factors include, but are not
limited to, world economic factors and the ongoing economic uncertainty,
currency fluctuations, commodity prices, political factors, the
Company’s international operations, highly competitive markets and
governmental laws and regulations. These risks and uncertainties are
described in the Company’s Annual Report on Form 10-K and interim
financial reports on Form 10-Q. Donaldson undertakes no obligation to
publicly update or revise any forward-looking statements.
About Donaldson Company
Founded in 1915, Donaldson Company (NYSE: DCI) is a global leader in the
filtration industry with approximately 140 sales, manufacturing and
distribution locations in 44 countries. Donaldson’s innovative
filtration technologies improve people’s lives, enhance customers’
equipment performance and protect the environment. For more information,
visit www.Donaldson.com.
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Source: Donaldson Company, Inc.