HEBRON, Ohio, June 4, 2001 — MPW Industrial Services Group, Inc. today announced that it has completed the sale of its Filtration Group to CLARCOR Inc. The purchase price was approximately $31 million, subject to final closing adjustments.
Monte Black, MPW's Chairman and CEO said, "The sale of our Filtration Group completes the final component of our re-positioning strategy which was intended to reduce debt and strengthen our balance sheet. We will focus our services going forward on the Company's three remaining service lines, industrial cleaning and facility maintenance, industrial water purification and industrial container cleaning services." According to Mr. Black, each of these three businesses has solid growth opportunities and long-tenured client relationships serving a diversified group of industries.
MPW Industrial Services Group, Inc. is a provider of integrated, technically based industrial cleaning and related facilities support services in North America. MPW offers three principal service lines that are integral to a wide variety of manufacturing processes. These three service lines are industrial cleaning and facility maintenance, industrial container cleaning and industrial process water purification.
