Donaldson Co. (NYSE:DCI) announced this week it has reached an agreement to sell Ultratroc, its maker of compressed airdryers located in Flensburg, Germany, to German firm IJW Anlagenbau. The deal will be effective Sept. 23. The terms of the sale were not disclosed but the company said the sale would not have a material impact on Donaldson's financial results.
Although Donaldson will no longer be Ultratroc's parent, it will continue to sell the firm's products. The American company will also retain the "naming rights" to the brands Donaldson Ultrafilter and Ultrafilter.
Donaldson said Jan Weiner, the plant manager of Ultratroc Gmbh until 2010, is a co-owner of IJW and will be returning as manager of the Flensburg facility and its 38 employees.
Donaldson is scheduled to release its Q4 results on the morning of Aug. 27.