CAMARILLO, CA, Oct. 1, 2008 -- Meissner Filtration Products Inc. announced that it has closed escrow on a 172,077 square foot facility in Camarillo, CA, which is ideally suited for use as its corporate headquarters. The building will be leased back to its current occupant for the next 2 1⁄2 years, at which point Meissner will consolidate two locations into the new facility.
"By making the acquisition at this time, we are assured that we can sustain growth without experiencing space limitations," stated Christopher Meissner, CEO. "With land becoming scarce for large industrial facilities in Ventura County, there is an extremely limited inventory of facilities capable of meeting our needs. With this acquisition, we have solved our need not only for additional manufacturing space, but also for laboratory space. Furthermore, with 68,000 square feet of office space, the new facility is well suited to meet our requirements for R&D, engineering, quality and training."
Meissner's ability to secure financing in the current uncertain financial environment is a testament to the strength of the company's balance sheet, cash flows and growth prospects. Bank of America financed the transaction.
Meissner manufactures advanced microfiltration products, and also meets the critical filtration needs of the semiconductor, chemical, and food and beverage industries.