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DistributionNOW signs international agreement with Kimray
IN BRIEF/NEWS
In Brief • ITT Inc’s Goulds Pumps, PRO Services and Bornemann brands have celebrated the sixth annual Pump Appreciation Day, a global event to raise awareness of the value of pumps and to honour those who make pumps possible. This year, 17 organizations and their representatives were presented with Heart and Pulse of Industry Awards. The online World of Pumps Quiz attracted almost 11 000 unique visitors from 90 countries in the months leading up to Pump Appreciation Day on 11 April 2017. www.itt.com, www.gouldspumps. com, www.bornemann.com and www. ittproservices.com • Pentair plc has published its 2016 Corporate Responsibility (CR) Report which focuses on the company’s activities in sustainable products and solutions, operational excellence, employee engagement, community involvement and philanthropic giving, and governance. In the report, Pentair gives examples of how the company is delivering products, services and solutions to help customers make the best use of resources. Sixty five percent of Pentair’s solutions from its Water segment, for example, support water efficiency, helping to reduce, reuse or recover water, directly or indirectly. The report also highlights initiatives that Pentair is taking to reduce the environmental impact of its own operations, including the company’s annual “Environmental Treasure Hunt” during which site-level teams look for creative ways to drive efficiencies in energy and water use, as well as to reduce waste and emissions. In 2016, Pentair implemented 55 employee solutions, generating US$714 000 in resource efficiency savings. The Pentair report can be viewed and downloaded at www.pentair.com/en/investors/annualand-other-reports • Registration and housing are now open for WEFTEC 2017, the Water Environment Federation’s annual conference and exhibition that takes place 30 September–4 October 2017 in Chicago, Illinois, USA. WEFTEC is the world’s largest annual water quality event. This year, the Water Environment Federation is celebrating 90 years of WEFTEC. www.weftec.org
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Pump Industry Analyst
PumpMan buys Alyan Pump
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umpMan Holdings LLC has completed the acquisition of Alyan Pump LLC, a Folcroft, Pennsylvania, USA-based provider of specialty packaged pump systems and column and submersible sump and sewage packages. Founded in 1955, Alyan serves customers in the municipal, commercial, industrial and residential markets in the Philadelphia area and across the mid-Atlantic region. The company will continue to operate with the Alyan brand under PumpMan Holdings ownership. Don Devine, president and CEO of PumpMan Holdings, said: “Alyan is an important next step in building a national leading specialty packaged pump system and service and repair company focused on the industrial, commercial and municipal water segments.” PumpMan Holdings, a Soundcore Capital Partners LLC portfolio company, was formed in 2016 following the acquisition of Baldwin Park, California-based PumpMan Inc. With roots dating to 1976, PumpMan provides onsite pump system maintenance, repairs and other field services to municipal, commercial, industrial and residential customers.
For further information, visit www.pumpman.com, www.alyanpump.com and www.soundcorecap.com
Flowserve sells Gestra to Spirax-Sarco Engineering
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lowserve Corp has entered into a conditional sale and purchase agreement to sell Gestra AG and associated businesses to Spirax-Sarco Engineering plc in a E186 million deal. Gestra, which is headquartered in Bremen, Germany, designs and produces valves and control systems for steam and fluid process control. In 2016, the Gestra business had revenues of approximately E92.5 million and earnings before interest and taxes of E15.2 million. Flowserve says that the sale of Gestra is part of an ongoing effort to better align and optimize its product portfolio and manufacturing footprint, focusing on core business objectives that will allow the
company to be more competitive when key industry markets return. “Our decision to divest the Gestra AG product line is consistent with our ongoing efforts to drive long-term shareholder value,” said John Lenander, president, Flowserve Flow Control Division. “While Gestra has been a solid business unit for Flowserve, we believe it is highly complementary to a company like Spirax that has the intent to expand the customer base, invest in the organic business and fully utilize the infrastructure already in place. We are pleased to see our Gestra team members integrated into an industry-leading, steam-focused business like Spirax.” Nicholas Anderson, chief executive of Spirax-Sarco Engineering plc, said: “We are delighted to be bringing Gestra, its management and employees into the Spirax Sarco family. Our businesses are highly complementary; Gestra will enhance the market and product offering of Spirax Sarco and will benefit from our global footprint and broader product range. We believe that this combination will deliver enhanced value to both customers and shareholders.” The sale is expected to be completed during the second quarter of 2017, subject to certain customary conditions. For further information, visit www.flowserve.com and www.spiraxsarcoengineering.com
DistributionNOW signs international agreement with Kimray
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OW Inc’s US subsidiary DNOW LP has entered into an exclusive international distribution agreement with Kimray Inc. DistributionNOW will distribute and service Kimray’s line of regulators, control valves, glycol pumps and liquid level controls across the eastern hemisphere. Robert Workman, president and CEO of NOW Inc, said: “We are excited to expand our decades-long relationship with Kimray in North America to include exclusive distribution rights in the major international oil and gas markets.” “Kimray is grateful for the international partnership that is beginning with DistributionNOW as we look to leverage their supply chain and customer service expertise to make a difference in the lives of more customers,” said Dustin Anderson, vice president of sales and marketing at Kimray.
April 2017
NEWS/DIVIDENDS “This partnership solidifies Kimray’s distribution network and firmly establishes brand presence in major oil and gas plays across the globe.” For further information, visit www.distributionnow.com and www.kimray.com
further driving the adoption and installation of these products across the GCC. Our knowledge and experience within the region, as well as the oil and gas industry will further bolster the execution and delivery of this innovative technology to an increasing number of plants and operators.”
further information, visit www.energyrecovery.com Energy Recovery enters For and www.alderley.com into licencing agreement with Alderley for Haskel invests in centrifugal products new test cell room
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nergy Recovery Inc has signed a new licencing agreement with Alderley plc, a global supplier of integrated modular skid systems for oil and gas applications. The 10-year licencing agreement will give Alderley exclusive rights to sell and promote the Energy Recovery centrifugal line of products, including the IsoBoost and IsoGen systems for gas processing and pipeline applications in the Middle East region, including Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, Oman, Iraq and Iran. In return, Energy Recovery will receive a one-time royalty for each IsoBoost or IsoGen unit sold. The agreement is designed to generate more predictable and profitable revenue streams for Energy Recovery within the centrifugal product line. The partnership with Alderley also aims to accelerate a critical mass of installations for the IsoBoost and IsoGen product lines in the Gulf Cooperation Council countries (GCC). “This agreement is yet another step toward realizing and unlocking the value of our long term strategy, moreover evidence of the continued evolution of Energy Recovery’s business model to that of a licencor of differentiated and disruptive technology,” said Energy Recovery’s president and CEO Joel Gay. Mark Colebrook, CEO of Alderley plc, added: “Alderley is excited to be working with Energy Recovery Inc in the selling and promotion of the company’s innovative and proven centrifugal products, as well as
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underland, UK-based Haskel has engineered and built a £100 000 high pressure test facility that the company believes will further improve safety and deliver productivity. Built with clear Lexan polycarbonate, the room is equipped with an external control console enabling an extensive range of proof and performance high-pressure tests, up to 60 000 PSI, to be carried out and recorded safely and efficiently. The new room eradicates hazards such as chemical injection type injuries or lacerations from loose hoses; and is backed up by an intelligent control system which can identify leaks and other dangers. “We already have an excellent health and safety record, and this system further mitigates against any of the risks that come with testing from behind a screen or hood rather than in an enclosure,” said Dave Angus, Haskel’s quality, health, safety and environmental manager. “There are many companies around the world that would benefit from this type of chamber, and we would be happy to share our experiences and expertise. It can be built to accommodate testing on a large scale for any piece of engineering that involves pressurised valves or pipelines, such as a car or aerospace equipment,” added Angus. The Haskel products produced in Sunderland are sold into a number of European export markets, including France, Spain, Norway and Denmark.
Dividends • Idex Corp’s board of directors has approved a 9% increase in the company’s regular quarterly cash dividend to US$0.37 per common share. The next dividend will be paid on 31 May 2017 to shareholders of record on 15 May 2017. This dividend represents the company’s 90th consecutive regular quarterly cash dividend payment. www.idexcorp.com • Franklin Electric Co Inc has raised its quarterly cash dividend by US$0.10 to US$0.1075 per share. The increased dividend is payable on 18 May 2017, to shareowners of record on 4 May 2017. www.fele.com • At Andritz AG’s 110th Annual General Meeting, shareholders agreed to raise the dividend to E1.50 euros per share for the 2016 business year, from 2015’s E1.35 per share. www.andritz.com • Crane Co’s regular quarterly dividend of US$0.33 per share for the second quarter of 2017 is payable on 9 June 2017 to shareholders of record on 31 May 2017. www.craneco.com • Pentair paid dividends of US$0.345 per share in the first quarter of 2017. The company announced last December that its board had approved a 3% increase in the company’s regular annual cash dividend rate for 2017 to US$1.38 from US$1.34. 2017 marks the 41st consecutive year that Pentair has increased its dividend. www.pentair.com • Sulzer Ltd has distributed an ordinary dividend of CHF3.50 per share to its shareholders for 2016. www.sulzer.com • The Indutrade AB Annual General Meeting approved a 2016 dividend of SEK3.20 per share. www.indutrade.com
For further information, visit www.haskel.com
A SUBSCRIPTION INCLUDES: • Online access for 5 users • An archive of back issues
8 April 2017
www.pumpindustryanalyst.com
Pump Industry Analyst
13
In Brief • ITT Inc’s Goulds Pumps, PRO Services and Bornemann brands have celebrated the sixth annual Pump Appreciation Day, a global event to raise awareness of the value of pumps and to honour those who make pumps possible. This year, 17 organizations and their representatives were presented with Heart and Pulse of Industry Awards. The online World of Pumps Quiz attracted almost 11 000 unique visitors from 90 countries in the months leading up to Pump Appreciation Day on 11 April 2017. www.itt.com, www.gouldspumps. com, www.bornemann.com and www. ittproservices.com • Pentair plc has published its 2016 Corporate Responsibility (CR) Report which focuses on the company’s activities in sustainable products and solutions, operational excellence, employee engagement, community involvement and philanthropic giving, and governance. In the report, Pentair gives examples of how the company is delivering products, services and solutions to help customers make the best use of resources. Sixty five percent of Pentair’s solutions from its Water segment, for example, support water efficiency, helping to reduce, reuse or recover water, directly or indirectly. The report also highlights initiatives that Pentair is taking to reduce the environmental impact of its own operations, including the company’s annual “Environmental Treasure Hunt” during which site-level teams look for creative ways to drive efficiencies in energy and water use, as well as to reduce waste and emissions. In 2016, Pentair implemented 55 employee solutions, generating US$714 000 in resource efficiency savings. The Pentair report can be viewed and downloaded at www.pentair.com/en/investors/annualand-other-reports • Registration and housing are now open for WEFTEC 2017, the Water Environment Federation’s annual conference and exhibition that takes place 30 September–4 October 2017 in Chicago, Illinois, USA. WEFTEC is the world’s largest annual water quality event. This year, the Water Environment Federation is celebrating 90 years of WEFTEC. www.weftec.org
12
Pump Industry Analyst
PumpMan buys Alyan Pump
P
umpMan Holdings LLC has completed the acquisition of Alyan Pump LLC, a Folcroft, Pennsylvania, USA-based provider of specialty packaged pump systems and column and submersible sump and sewage packages. Founded in 1955, Alyan serves customers in the municipal, commercial, industrial and residential markets in the Philadelphia area and across the mid-Atlantic region. The company will continue to operate with the Alyan brand under PumpMan Holdings ownership. Don Devine, president and CEO of PumpMan Holdings, said: “Alyan is an important next step in building a national leading specialty packaged pump system and service and repair company focused on the industrial, commercial and municipal water segments.” PumpMan Holdings, a Soundcore Capital Partners LLC portfolio company, was formed in 2016 following the acquisition of Baldwin Park, California-based PumpMan Inc. With roots dating to 1976, PumpMan provides onsite pump system maintenance, repairs and other field services to municipal, commercial, industrial and residential customers.
For further information, visit www.pumpman.com, www.alyanpump.com and www.soundcorecap.com
Flowserve sells Gestra to Spirax-Sarco Engineering
F
lowserve Corp has entered into a conditional sale and purchase agreement to sell Gestra AG and associated businesses to Spirax-Sarco Engineering plc in a E186 million deal. Gestra, which is headquartered in Bremen, Germany, designs and produces valves and control systems for steam and fluid process control. In 2016, the Gestra business had revenues of approximately E92.5 million and earnings before interest and taxes of E15.2 million. Flowserve says that the sale of Gestra is part of an ongoing effort to better align and optimize its product portfolio and manufacturing footprint, focusing on core business objectives that will allow the
company to be more competitive when key industry markets return. “Our decision to divest the Gestra AG product line is consistent with our ongoing efforts to drive long-term shareholder value,” said John Lenander, president, Flowserve Flow Control Division. “While Gestra has been a solid business unit for Flowserve, we believe it is highly complementary to a company like Spirax that has the intent to expand the customer base, invest in the organic business and fully utilize the infrastructure already in place. We are pleased to see our Gestra team members integrated into an industry-leading, steam-focused business like Spirax.” Nicholas Anderson, chief executive of Spirax-Sarco Engineering plc, said: “We are delighted to be bringing Gestra, its management and employees into the Spirax Sarco family. Our businesses are highly complementary; Gestra will enhance the market and product offering of Spirax Sarco and will benefit from our global footprint and broader product range. We believe that this combination will deliver enhanced value to both customers and shareholders.” The sale is expected to be completed during the second quarter of 2017, subject to certain customary conditions. For further information, visit www.flowserve.com and www.spiraxsarcoengineering.com
DistributionNOW signs international agreement with Kimray
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OW Inc’s US subsidiary DNOW LP has entered into an exclusive international distribution agreement with Kimray Inc. DistributionNOW will distribute and service Kimray’s line of regulators, control valves, glycol pumps and liquid level controls across the eastern hemisphere. Robert Workman, president and CEO of NOW Inc, said: “We are excited to expand our decades-long relationship with Kimray in North America to include exclusive distribution rights in the major international oil and gas markets.” “Kimray is grateful for the international partnership that is beginning with DistributionNOW as we look to leverage their supply chain and customer service expertise to make a difference in the lives of more customers,” said Dustin Anderson, vice president of sales and marketing at Kimray.
April 2017
NEWS/DIVIDENDS “This partnership solidifies Kimray’s distribution network and firmly establishes brand presence in major oil and gas plays across the globe.” For further information, visit www.distributionnow.com and www.kimray.com
further driving the adoption and installation of these products across the GCC. Our knowledge and experience within the region, as well as the oil and gas industry will further bolster the execution and delivery of this innovative technology to an increasing number of plants and operators.”
further information, visit www.energyrecovery.com Energy Recovery enters For and www.alderley.com into licencing agreement with Alderley for Haskel invests in centrifugal products new test cell room
E
nergy Recovery Inc has signed a new licencing agreement with Alderley plc, a global supplier of integrated modular skid systems for oil and gas applications. The 10-year licencing agreement will give Alderley exclusive rights to sell and promote the Energy Recovery centrifugal line of products, including the IsoBoost and IsoGen systems for gas processing and pipeline applications in the Middle East region, including Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, Oman, Iraq and Iran. In return, Energy Recovery will receive a one-time royalty for each IsoBoost or IsoGen unit sold. The agreement is designed to generate more predictable and profitable revenue streams for Energy Recovery within the centrifugal product line. The partnership with Alderley also aims to accelerate a critical mass of installations for the IsoBoost and IsoGen product lines in the Gulf Cooperation Council countries (GCC). “This agreement is yet another step toward realizing and unlocking the value of our long term strategy, moreover evidence of the continued evolution of Energy Recovery’s business model to that of a licencor of differentiated and disruptive technology,” said Energy Recovery’s president and CEO Joel Gay. Mark Colebrook, CEO of Alderley plc, added: “Alderley is excited to be working with Energy Recovery Inc in the selling and promotion of the company’s innovative and proven centrifugal products, as well as
S
underland, UK-based Haskel has engineered and built a £100 000 high pressure test facility that the company believes will further improve safety and deliver productivity. Built with clear Lexan polycarbonate, the room is equipped with an external control console enabling an extensive range of proof and performance high-pressure tests, up to 60 000 PSI, to be carried out and recorded safely and efficiently. The new room eradicates hazards such as chemical injection type injuries or lacerations from loose hoses; and is backed up by an intelligent control system which can identify leaks and other dangers. “We already have an excellent health and safety record, and this system further mitigates against any of the risks that come with testing from behind a screen or hood rather than in an enclosure,” said Dave Angus, Haskel’s quality, health, safety and environmental manager. “There are many companies around the world that would benefit from this type of chamber, and we would be happy to share our experiences and expertise. It can be built to accommodate testing on a large scale for any piece of engineering that involves pressurised valves or pipelines, such as a car or aerospace equipment,” added Angus. The Haskel products produced in Sunderland are sold into a number of European export markets, including France, Spain, Norway and Denmark.
Dividends • Idex Corp’s board of directors has approved a 9% increase in the company’s regular quarterly cash dividend to US$0.37 per common share. The next dividend will be paid on 31 May 2017 to shareholders of record on 15 May 2017. This dividend represents the company’s 90th consecutive regular quarterly cash dividend payment. www.idexcorp.com • Franklin Electric Co Inc has raised its quarterly cash dividend by US$0.10 to US$0.1075 per share. The increased dividend is payable on 18 May 2017, to shareowners of record on 4 May 2017. www.fele.com • At Andritz AG’s 110th Annual General Meeting, shareholders agreed to raise the dividend to E1.50 euros per share for the 2016 business year, from 2015’s E1.35 per share. www.andritz.com • Crane Co’s regular quarterly dividend of US$0.33 per share for the second quarter of 2017 is payable on 9 June 2017 to shareholders of record on 31 May 2017. www.craneco.com • Pentair paid dividends of US$0.345 per share in the first quarter of 2017. The company announced last December that its board had approved a 3% increase in the company’s regular annual cash dividend rate for 2017 to US$1.38 from US$1.34. 2017 marks the 41st consecutive year that Pentair has increased its dividend. www.pentair.com • Sulzer Ltd has distributed an ordinary dividend of CHF3.50 per share to its shareholders for 2016. www.sulzer.com • The Indutrade AB Annual General Meeting approved a 2016 dividend of SEK3.20 per share. www.indutrade.com
For further information, visit www.haskel.com
A SUBSCRIPTION INCLUDES: • Online access for 5 users • An archive of back issues
8 April 2017
www.pumpindustryanalyst.com
Pump Industry Analyst
13