CLARCOR To Invest In New Innovation Center
18 Juni 2014 - 11:29PM
Business Wire
CLARCOR Inc. (NYSE: CLC), a global provider of filtration
products, systems, and services, announced that it has entered into
an agreement to acquire a facility in Columbia, Tennessee to house
a state-of-the-art Innovation Center to support the company’s
global growth and innovation initiatives. CLARCOR plans to invest
more than $10 million and create 35 new jobs in Middle Tennessee
over the next five years.
The CLARCOR Innovation Center will house research scientists and
engineers, along with the Company’s Advanced Filtration Solutions
group, and will serve as CLARCOR’s central R&D center in
support of CLARCOR operating companies around the world. The
facility will include research laboratories, high-end testing
equipment, pilot and semi-works production lines, and a learning
center. Immediately following its purchase of the Columbia
facility, CLARCOR will begin remodeling activities and relocating
assets from a smaller R&D facility in Ohio.
CLARCOR’s Chairman, President and CEO, Chris Conway, stated,
“Our strategy with the Innovation Center is to complement the
talented scientists and innovators working in our various operating
companies around the world with a centralized resource to better
leverage our significant synergies and launch more best in class
filtration products and technologies across CLARCOR. The Innovation
Center will focus on developing unique filtration media, advancing
our nanofiber capabilities, and creating innovative processes and
differentiated filtration products that can deliver increased value
to our customers, employees and shareholders.
“The CLARCOR Innovation Center will be located a half hour from
the Company’s corporate headquarters in Franklin, Tennessee, which
we believe is the perfect place for us to operate and to be able to
recruit top level talent, both internally and externally. Of
course, we could not have secured such an ideal location without
the strong support we received from the State of Tennessee
Department of Economic & Community Development, the Tennessee
Valley Authority, the city of Columbia and Maury County, and we
deeply appreciate the efforts their people made to make this
project possible. We expect that this facility will be as much a
source of pride for the local community as it will be for
CLARCOR.”
CLARCOR Inc. is based in Franklin, Tennessee, and is a
manufacturer of mobile, industrial and environmental filtration
products sold in domestic and international markets. Common shares
of CLARCOR are traded on the New York Stock Exchange under the
symbol CLC.
Forward-Looking Statements
All statements made in this press release other than statements
of historical fact are forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
A reader should not place undue reliance on any forward-looking
statements, all of which involve known and unknown risks and
uncertainties. These forward-looking statements speak only as of
the date of this press release, and except as otherwise required by
applicable laws, the Company undertakes no obligation to publicly
update or revise any forward-looking statements or any of the
matters described in this press release, whether as a result of new
information, future events, changed circumstances or any other
reason.
CLARCOR Inc.David J. Fallon, 615-771-3100Vice President - Chief
Financial Officer
Clarcor (NYSE:CLC)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Clarcor (NYSE:CLC)
Historical Stock Chart
Von Jul 2023 bis Jul 2024