In order to expand across Europe and Asia and improve its
) recently acquired the Bekaert Advanced Filtration business
which is engaged in the same line of business as its subsidiary
Purolator EFP. CLARCOR bought this business from NV Bekaert SA
for about $8 million. However, the acquisition is not expected to
have any material impact on CLARCOR's 2014 earnings.
The business, renamed Purolator Advanced Filtration, is expected
to record sales of approximately $20 million in 2013. The
transaction also includes a supply contract under which the
combined business can continue to purchase Bekipor metal fiber
filtration media from Bekaert.
Bekaert is a world market leader in steel wire transformation and
coatings and is well recognized for its engineering capabilities
and premium product quality. The acquisition is expected to
expand the technical capabilities of Purolator EFP and extend its
global footprint with improved product offerings.
On the other hand, Bekaert will focus on its strength of
providing advanced metal filtration media. The transaction,
therefore, is a win-win situation for both companies.
Based in Franklin, TN, CLARCOR is a diversified marketer and
manufacturer of mobile, industrial and environmental filtration
products and consumer and industrial packaging products sold in
domestic and international markets.
CLARCOR currently has a Zacks Rank #3 (Hold). Other stocks
that look promising and are worth a look in the industry include
Hutchison Whampoa Ltd
Raven Industries Inc
), each carrying a Zacks Rank #2 (Buy).
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