CLARCOR to Build New U.S. Distribution Center at Baldwin Filters
FRANKLIN, Tenn. -- January 31, 2013
The Board of Directors of CLARCOR Inc. (NYSE: CLC) has approved an
approximately $40 million investment by its subsidiary Baldwin Filters, Inc.
to build a new 400,000 square foot warehouse and distribution center adjacent
to Baldwin’s current manufacturing facility in Kearney, Nebraska. The project
is anticipated to take approximately two years to complete.
Chris Conway, CLARCOR’s Chairman and Chief Executive Officer, stated, “Our
Baldwin business is a principal driver of CLARCOR’s success, and we are
excited to expand Baldwin’s capacity to handle anticipated growth over the
next decade. Baldwin has become the leading North American supplier of heavy
duty aftermarket engine filters precisely because of its product breadth and
its demonstrated ability to meet its customers’ expectations for product
quality, performance, and on time delivery. Efficient distribution
capabilities and excellent customer service are the lifeblood of Baldwin, and
our new facility should ensure that Baldwin retains these competitive
advantages for years to come.
“Not only will we improve our warehousing and distribution capabilities, but
the new facility should allow us to address inefficiencies with off-site
storage and free up additional manufacturing space so that Baldwin can make an
even broader array of products, achieve greater production efficiencies and
advance its efforts to develop new and exciting engine filtration
technologies. We expect to see capacity and efficiency gains as a result of
Groundbreaking for the new facility is expected to take place in the spring of
2013 with the anticipated opening of the facility in the spring of 2015.
Approximately $20 million of the total investment is anticipated to be made in
fiscal year 2013 and has been included in CLARCOR’s 2013 capital expenditure
budget. The remainder of the approximately $40 million total investment is
expected to be made in fiscal years 2014 and 2015.
CLARCOR is based in Franklin, Tennessee and 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. Common shares of the Company are traded on the New York Stock
Exchange under the symbol CLC.
David J. Fallon, 615-771-3100
Chief Financial Officer
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