CLARCOR (CLC) Acquires Nat Gas Filtration Product Maker Modular Engineering
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CLARCOR Inc. (NYSE: CLC) has acquired 100% of the shares of Modular Engineering Pty Ltd., a manufacturer of natural gas filtration products and distributor of aftermarket elements based in Henderson, Australia, outside of Perth. A long-time supplier to CLARCOR’s PECOFacet division whose former owners will remain with the business following the closing, Modular will become a part of CLARCOR’s PECOFacet division, which is included within CLARCOR’s Industrial/Environmental Filtration segment. Terms of the acquisition were not disclosed, and although the acquisition is expected to be accretive to CLARCOR’s earnings in 2012, it is not expected to be material to the Company’s 2012 results.
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