NEWS
Cardo to delist from Stockholm stock exchange
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ardo AB (publ) is to be delisted from the NASDAQ OMX Stockholm stock exchange. The last trading day of the shares will be 21 April 2011. ASSA ABLOY’s public offer for Cardo was declared unconditional on 10 March 2011 (see Pump Industry Analyst, t December 2010). The Swedish lock maker now controls more than 90% of the shares in Cardo AB. As a result of the delisting of the share, Cardo AB has decided not to publish the company’s quarterly report for January–March 2011. For further information, visit www.cardo.com and www.assaabloy.com
HMS repays RUB3.3bn of indebtedness
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ussian pump manufacturer The HMS Group has repaid RUB3.3 billion of its outstanding indebtedness. The HMS Group financed the payments out of its net proceeds from its initial public offering (IPO) on the London Stock Exchange in February (see Pump Industry Analyst, t February and January 2011). The IPO resulted in aggregate proceeds of US$360 million. For further information, visit www.grouphms.com
Atlas Copco seals JC Carter acquisition
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tlas Copco Mafi-Trench has completed the acquisition of JC Carter’s pump business (see Pump Industry Analyst, t February 2011). Headquartered in California, USA, JC Carter produces cryogenic submerged motor pumps, which are used mainly in liquid natural gas regasification and liquefaction plants, and natural gas liquid processing. 12
Pump Industry Analyst
The pump company had revenues of approximately US$25 million in 2009 and around 70 employees. The newly acquired business will become part of Atlas Copco’s Gas and Process Division. For further information, visit www.atlascopco.com and www.jccarterpumps.com
Watson-Marlow pumps up sales and profits
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atson-Marlow Pumps Group has posted a 23% increase in 2010 sales and a 38% rise in its operr ating profit. The positive displacement pump manufacturer has seen 2010 sales increase to £103.0 million, up from £83.8 million in 2009. Sales benefited from a full year of contribution from the MasoSine part of the business which was acquired in August 2009 and added 7% to the sales growth. Watson-Marlow’s operating profit of £30.8 million in 2010 was up from £22.3 million in 2009. Sales in Watson-Marlow’s EMEA region were well ahead of last year, with good increases spread across the UK and Continental Europe due to much higher demand from OEM customers. Shipments of the company’s Bredel products rebounded well in 2010 on a weak 2009. Sales in the Americas were also well ahead of 2009 levels, with good growth for Watson-Marlow in the USA from the recovery in the general industrial and water treatment markets. Watson–Marlow’s sales growth in the Asia Pacific region was strong, albeit from a relatively small base. Mike Sullivan, group marketing manager at Watson-Marlow, said: “We invested in the business through the recession in 2009 to improve manufacturing efficiency, accelerate new product development and increase penetration of our markets. We have continued to do so in 2010 thereby stepping up our investments in market development. These figures are extremely impressive and this is good news for our staff, our customers and the manufacturing sector in general.” Watson-Marlow is part of Spirax-Sarco Engineering plc. For further information, visit www.watson-marlow.com
ClydeUnion Pumps establishes joint venture in Indonesia
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lydeUnion Pumps has set up a joint venture with PT Duraquipt Cemerlang in Indonesia. PT ClydeUnion Pumps Indonesia (PT CUPI) will package and test pumps from the ClydeUnion Pumps range, and offer service and support for products in the field. PT Duraquipt Cemerlang currently imports pumps and pump parts and combines them with locally made accessories. This is the first joint venture in South East Asia for ClydeUnion Pumps. Headquartered in Glasgow, UK, ClydeUnion Pumps specialises in the upstream and downstream oil, nuclear power, conventional power, water, industrial, minerals and mining sectors. Clyde Pumps was formed in May 2007 when the Weir Pumps (Glasgow) business was acquired from the Weir Group plc, and Union Pump was acquired in 2008. For further information, visit www.clydeunion.com and www.ptdqc.com
Asia to account for 43% of world pump market in 2011
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orty three percent of industrial pumps sold this year will be installed in Asia. This is the latest forecast in the McIlvaine Co’s Pumps World Market, an online continually updated report on the pump market. Asia will account for pump purchases of just under US$15 billion this year, with China leading the way with major investments in pumps for power, water, wastewater and many basic industries. McIlvaine estimates that the world market for industrial pumps will be worth just under US$35 billion in 2011. Municipal wastewater plants will account for 23% of the total purchases, while municipal drinking water systems will account for 16%. For further information on Pumps World Market, t visit www.mcilvainecompany.com/brochures/water. html#N019
March 2011