Donaldson Company, Inc. (NYSE: DCI), announced today that it has entered into a definitive agreement to sell Ultratroc Gmbh, a manufacturer of compressed air dryers located in Flensburg, Germany, to IJW Anlagenbau Gmbh (IJW).
The sale of the Flensburg manufacturing facility will be effective 23 September. Jan Weiner, the Plant Manager of Ultratroc Gmbh until 2010, is a co-owner of IJW and returns as Manager of the Flensburg facility and its 38 employees. He brings many years of experience in the dryer business and will help ensure a smooth transition for Ultratroc’s current Customers, suppliers, employees, and the local Flensburg community.
The Ultratroc business is currently part of Donaldson’s Industrial Products segment. Under the terms of the agreement, Donaldson will continue selling Ultratroc’s compressed air dryers and will retain the naming rights to the brand names “Donaldson Ultrafilter” and “Ultrafilter.” Additional terms of the sale were not disclosed. The sale will not have a material impact on Donaldson’s financial results.
About Donaldson Company, Inc.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 12,500 employees contribute to the Company’s success by supporting our Customers at our more than 100 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.