Donaldson Company, Inc. has completed the acquisition of Northern Technical L.L.C. The filtration systems specialist announced that it would be purchasing the UAE-based manufacturer of gas turbine inlet air filtration systems and replacement filters in August 2014.
According to Donaldson, the acquisition is expected to be accretive to FY15 earnings. For reporting purposes, Northern Technical's results will be incorporated in ‘Gas Turbine Products’ within the ‘Industrial Products Segment’.
“We would like to welcome the Northern Technical employees to the Donaldson family,” said Tod Carpenter, Donaldson's Chief Operating Officer. “Northern Technical is a great strategic fit with our existing Gas Turbine business as it will broaden our global product portfolio and provide us with the opportunity to leverage their strong Customer relationships in the Middle East, the world's largest gas turbine market. The acquisition also helps us with three of our long-standing diversification strategies by helping us to expand our presence in industrial markets, focus on replacement parts, and add international revenue.”
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/africa-middle-east/01102014/donaldson-completes-acquisition-of-northern-technical-586/