CLARCOR Acquires Assets of TDC Filter

FRANKLIN, Tenn.--(BUSINESS WIRE)--CLARCOR Inc. (NYSE: CLC) today announced that a subsidiary of its CLARCOR Industrial Air division has acquired the operational and intangible assets of TDC Filter Manufacturing, Inc. (“TDC”), a leading U.S. manufacturer and supplier of pleated filter bags, dust collection cartridges and gas turbine air filters, for a purchase price of approximately $11 million. TDC had approximately $17 million of revenue in 2015. Under the terms of the transaction, CLARCOR Industrial Air will assume open purchase orders from TDC and move TDC’s operational assets into CLARCOR Industrial Air’s facilities in Slater, Missouri, and will not acquire any real property or assume any employee-related liabilities. The transaction is not anticipated to be materially accretive or dilutive to CLARCOR’s 2016 earnings.