- Email: [email protected]
Pall links up with Bechtel Jacobs
Filtration Industry Analyst
May 1999
VIVENDI WINS CONTROL OF US FILTER has Vivendi successfully completed the tender offer to acquire the common stock of US Filter at US$31.50 net per share in cash (see Filtration Industry Analyst, April 1999). Approximately 174.7 million shares of US Filter common stock were tendered before Vivendi’s tender offer expired at midnight on 22 April. This represents about 95.7 per cent of US Filter shares currently outstanding. Vivendi has purchased the tendered shares and expects to acquire the remaining US Filter shares through a merger where such shares will be converted into rights to receive US$3 1SO net per share in cash. The transaction is valued at approximately US$6.2 billion.
ALFA LAVAL TARGETS SECOND-HAND MARKET Alfa Lava1 is to increase its presence in the market for factory-reconditioned separators and decanters. A new business centre has been formed at Alfa Lava1 Separation’s
headquarters
in Sweden
at
to co-ordinate the purchase, reconditioning. sale and distribution of second-hand centrifuges worldwide. Before Alfa Lava1 releases a factory reconditioned secthe ond-hand centrifuge, machine will be completely inspected and dismantled, reconditioned at one of the company’s repair shops. Worn parts and faulty components are replaced and the machine is upgraded to include the latest features possible for that design. Each machine will be reconditioned to the quality levels required for the application and process in which it is to be used. Tumba
When the separator or decanter leaves the repair shop, it will have been tested and quality-assured in an IS0 9001 approved work shop and will be ready for installation. Spare parts, tools, documentation, user’s manual, control programme and control pane1 are all included. A warranty for the entire machine completes the package. A selection of factory reconditioned machines currently available can be found on Alfa Laval’s web site at www.alfalaval.com under Customer Services and Products.
NAME CHANGE FOR BTR SIEBE Shareholders in BTR Siehe plc have voted to change the name of the group to Invensys pk. An international advertising campaign to generate awareness of the new name has already been launched. The new identity will be adopted across the group. Lord Marshall, chairman of Invensys. said the new name was suggestive of the three keys to the group’s future success: invention, innovation and systems solutions. The London Stock Exchange symbol has changed to ISYS. while the US ADR symbol remains as BTSBY for the moment. The web site address has also changed to www.invensys.com. Following the merger of BTR plc and Siebe plc, the company is carrying out a strategy review of its business portfolio. External advisors are helping the company to assess options for certain operations.
JOHNS MANVILLE SHELVES SALE PLANS Johns Manville Corporation and its majority shareholder, the Manville Personal Injury Settlement Trust, say that
discussions between their financial advisors and potentially interested parties did not result in an acceptable offer for the sale or merger of the company. In January this year, Johns Manville said it was to explore strategic alternatives, including the possible sale or merger of the company, to maximise Johns Manville’s shareholder value. However, Johns Manville and the Manville Trust are continuing to explore other options, including a secondary public offering by the Trust of a portion of its Johns Manville stock, as well as a buyback of stock by Johns Manville. The Trust currently owns approximately 79 per zent of Johns Manville’s outstanding stock.
PALL LINKS UP WITH BECHTEL JACOBS Pall Corporation has signed options and licensing agreements with Bechtel Jacobs Company LLC of Oak Ridge, Tennessee, allowing Pall to manufacture and ship love1 inorganic membranes which are developed under various Cooperative Re;earcb and Development lgreements (CRADAs) with the US Department of Energy (DOE). The first product is a seamless, porous stainless steel membrane, which will be integrated into filtration and separation systems for sale to industry. With a near term market potential of US$lOO million and a long range potential of US$2 billion, this product is targeted for use by petroleum refineries, chemical and petrochemical producers, as well as power plants, incinerators and other off-gas applications. Additional novel membranes are in different stages of development and should be launched over the next 12-36 months.
02207 Printed
Editorial Office Elsevier Advanced Technology PO Box 1.50 Kidlington Oxford OX5 1AS United Kingdom Tel: +44 (0)1865 843695 Fax: +44 (0)1865 843971 E-mail: r.reidyQelsevier.co.uk
Editor Roisin Reidy Permissions may be sought directly from Elsevier Science Ri hts & Permissions Department, Pi: Box 600, Oxford OX5 1DX. UK; phone: (+44) 1865 843830, fax: (+44) 1865 853333, e-mail: permissions @elsevier.co.uk. You may also contact Rights & Permissions directly through Elsevier’s home page (http://www.elsevier.nl), selecting first ‘Customer Support’, then ‘General Information’. then Permissions Query Form’. In the USA, users may clear permissions and make ayments through the Copyright E learance Center, Inc., 222 Rosewood Drive, Danvers. MA 01923, USA; phone: (978) 7506400, fax: (978) 7504744, and in the UK through the Copyright Licensing Agency Rapid Clearance Service (CLARCS), 90 Tottenham Court Road, London Wl P OLP, UK; phone: (+44) 171 436 5931; fax: (+44) 171 436 3986. Other countries may have a local reprwraphic rights agency for payments. Derivative Works Subscribers may reproduce tables of contents or prepare lists of articles including abstracts for internal circulation within their institutions. Permtssion of the publisher is required for resale or distribution outside the Institution. Permission of the publisher IS required for all other derivative works, including compilations and translations. Electronic Storage or Usage Permission of the publisher is required to store or use electronically any material contained in this journal, including any article or part of an article. Contact the publisher at the address indicated. Except as outlined above, no part of this publication may be reproduced, stored in a retrieval system or transmitted In any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission of the publisher. Address permlssions requests to: Elsevier Science Rights 8 Permissions Department, at the mail, fax and e-mail addresses noted above. Notice No responsibility is assumed by the Publisher for any injury and/or damage to persons or property as a matter of products liability, negligence or otherwise, or from any use or operation of any methods, products, instructions or ideas contained in the material herein. Because of rapid advances in the medical sciences, in particular, Independent verification of diagnoses and drug dosages should be made. Although all advertising material is expected to conform to ethical (medical) standards, inclusion in this publication does not constitute a guarantee or endorsement of the quality or value of such product or of the claims made of it by its manufacturer.
by May&Id
Press
(Oxford)
Limited
May 1999
VIVENDI WINS CONTROL OF US FILTER has Vivendi successfully completed the tender offer to acquire the common stock of US Filter at US$31.50 net per share in cash (see Filtration Industry Analyst, April 1999). Approximately 174.7 million shares of US Filter common stock were tendered before Vivendi’s tender offer expired at midnight on 22 April. This represents about 95.7 per cent of US Filter shares currently outstanding. Vivendi has purchased the tendered shares and expects to acquire the remaining US Filter shares through a merger where such shares will be converted into rights to receive US$3 1SO net per share in cash. The transaction is valued at approximately US$6.2 billion.
ALFA LAVAL TARGETS SECOND-HAND MARKET Alfa Lava1 is to increase its presence in the market for factory-reconditioned separators and decanters. A new business centre has been formed at Alfa Lava1 Separation’s
headquarters
in Sweden
at
to co-ordinate the purchase, reconditioning. sale and distribution of second-hand centrifuges worldwide. Before Alfa Lava1 releases a factory reconditioned secthe ond-hand centrifuge, machine will be completely inspected and dismantled, reconditioned at one of the company’s repair shops. Worn parts and faulty components are replaced and the machine is upgraded to include the latest features possible for that design. Each machine will be reconditioned to the quality levels required for the application and process in which it is to be used. Tumba
When the separator or decanter leaves the repair shop, it will have been tested and quality-assured in an IS0 9001 approved work shop and will be ready for installation. Spare parts, tools, documentation, user’s manual, control programme and control pane1 are all included. A warranty for the entire machine completes the package. A selection of factory reconditioned machines currently available can be found on Alfa Laval’s web site at www.alfalaval.com under Customer Services and Products.
NAME CHANGE FOR BTR SIEBE Shareholders in BTR Siehe plc have voted to change the name of the group to Invensys pk. An international advertising campaign to generate awareness of the new name has already been launched. The new identity will be adopted across the group. Lord Marshall, chairman of Invensys. said the new name was suggestive of the three keys to the group’s future success: invention, innovation and systems solutions. The London Stock Exchange symbol has changed to ISYS. while the US ADR symbol remains as BTSBY for the moment. The web site address has also changed to www.invensys.com. Following the merger of BTR plc and Siebe plc, the company is carrying out a strategy review of its business portfolio. External advisors are helping the company to assess options for certain operations.
JOHNS MANVILLE SHELVES SALE PLANS Johns Manville Corporation and its majority shareholder, the Manville Personal Injury Settlement Trust, say that
discussions between their financial advisors and potentially interested parties did not result in an acceptable offer for the sale or merger of the company. In January this year, Johns Manville said it was to explore strategic alternatives, including the possible sale or merger of the company, to maximise Johns Manville’s shareholder value. However, Johns Manville and the Manville Trust are continuing to explore other options, including a secondary public offering by the Trust of a portion of its Johns Manville stock, as well as a buyback of stock by Johns Manville. The Trust currently owns approximately 79 per zent of Johns Manville’s outstanding stock.
PALL LINKS UP WITH BECHTEL JACOBS Pall Corporation has signed options and licensing agreements with Bechtel Jacobs Company LLC of Oak Ridge, Tennessee, allowing Pall to manufacture and ship love1 inorganic membranes which are developed under various Cooperative Re;earcb and Development lgreements (CRADAs) with the US Department of Energy (DOE). The first product is a seamless, porous stainless steel membrane, which will be integrated into filtration and separation systems for sale to industry. With a near term market potential of US$lOO million and a long range potential of US$2 billion, this product is targeted for use by petroleum refineries, chemical and petrochemical producers, as well as power plants, incinerators and other off-gas applications. Additional novel membranes are in different stages of development and should be launched over the next 12-36 months.
02207 Printed
Editorial Office Elsevier Advanced Technology PO Box 1.50 Kidlington Oxford OX5 1AS United Kingdom Tel: +44 (0)1865 843695 Fax: +44 (0)1865 843971 E-mail: r.reidyQelsevier.co.uk
Editor Roisin Reidy Permissions may be sought directly from Elsevier Science Ri hts & Permissions Department, Pi: Box 600, Oxford OX5 1DX. UK; phone: (+44) 1865 843830, fax: (+44) 1865 853333, e-mail: permissions @elsevier.co.uk. You may also contact Rights & Permissions directly through Elsevier’s home page (http://www.elsevier.nl), selecting first ‘Customer Support’, then ‘General Information’. then Permissions Query Form’. In the USA, users may clear permissions and make ayments through the Copyright E learance Center, Inc., 222 Rosewood Drive, Danvers. MA 01923, USA; phone: (978) 7506400, fax: (978) 7504744, and in the UK through the Copyright Licensing Agency Rapid Clearance Service (CLARCS), 90 Tottenham Court Road, London Wl P OLP, UK; phone: (+44) 171 436 5931; fax: (+44) 171 436 3986. Other countries may have a local reprwraphic rights agency for payments. Derivative Works Subscribers may reproduce tables of contents or prepare lists of articles including abstracts for internal circulation within their institutions. Permtssion of the publisher is required for resale or distribution outside the Institution. Permission of the publisher IS required for all other derivative works, including compilations and translations. Electronic Storage or Usage Permission of the publisher is required to store or use electronically any material contained in this journal, including any article or part of an article. Contact the publisher at the address indicated. Except as outlined above, no part of this publication may be reproduced, stored in a retrieval system or transmitted In any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior written permission of the publisher. Address permlssions requests to: Elsevier Science Rights 8 Permissions Department, at the mail, fax and e-mail addresses noted above. Notice No responsibility is assumed by the Publisher for any injury and/or damage to persons or property as a matter of products liability, negligence or otherwise, or from any use or operation of any methods, products, instructions or ideas contained in the material herein. Because of rapid advances in the medical sciences, in particular, Independent verification of diagnoses and drug dosages should be made. Although all advertising material is expected to conform to ethical (medical) standards, inclusion in this publication does not constitute a guarantee or endorsement of the quality or value of such product or of the claims made of it by its manufacturer.
by May&Id
Press
(Oxford)
Limited