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10/13/2003
FROM:
The Carideo Group Inc.
1250 One Financial Plaza
120 South Sixth Street
Minneapolis, Minnesota 55415
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FOR:
Donaldson Company, Inc.
P.O. Box 1299
Minneapolis, Minnesota 55440
(NYSE: DCI)
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CONTACTS:
Tony Carideo
(612) 317-2880
E-mail: tony@carideogroup.com
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Rich Sheffer
(952) 887-3753
E-mail: rsheffer@mail.donaldson.com
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FOR IMMEDIATE RELEASE
DONALDSON COMPANY ACQUIRES LHA INDUSTRIAL HYDRAULIC BUSINESS FROM BERENDSEN FLUID POWER, INC.
MINNEAPOLIS--(BUSINESS WIRE)--Oct. 13, 2003--Donaldson Company, Inc. (NYSE: DCI), today announced that it has acquired the assets of the LHA industrial hydraulic business from Tulsa, Oklahoma-based Berendsen Fluid Power, Inc. Terms of the acquisition were not disclosed.
The LHA business, with roughly $5 million in sales in the U.S., assembles and sells a line of industrial hydraulic filters and accessory parts. Products are sold primarily through distributors.
"The LHA business complements our existing industrial hydraulic business well," said Jim Giertz, Donaldson Company's senior vice president, commercial and industrial. "LHA broadens our product offering and enhances our distribution network for industrial hydraulics. This acquisition also reinforces our long relationship with Berendsen, who will remain an important customer for industrial hydraulic products."
About Donaldson Company, Inc.
Donaldson Company, Inc., headquartered in Minneapolis, is a leading worldwide provider of filtration systems and replacement parts. Founded in 1915, Donaldson is a technology-driven company committed to satisfying customer needs for filtration solutions through innovative research and development. Donaldson serves customers in the industrial and engine markets including dust collection, power generation, specialty filtration, compressed air purification, off-road equipment, industrial compressors, and trucks. Our 9,000 employees contribute to the company's success at over 30 manufacturing locations around the world. In fiscal year 2003, Donaldson reported sales of more than $1.2 billion and achieved its 14th consecutive year of double-digit earnings growth. Donaldson is a member of the S&P MidCap 400 Index and Donaldson shares are traded on the New York Stock Exchange under the symbol DCI. Additional company information is available at www.donaldson.com.
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