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3M to acquire Swiss filtration supplier
NEWS/IN BRIEF continue to maintain a strong marketing, sales, service and technical support presence based in the Netherlands to serve customers throughout Europe, the Middle East and Africa. “This action is designed to keep a strong sales and service presence in Europe, while significantly leveraging existing infrastructure and overhead in our Minntech subsidiary,” explained Andrew Krakauer, Cantel’s president. This streamlining should be completed by the end of this year and is expected to result in annual pre-tax savings of more than US$1 million. Cantel expects to incur severance costs of US$550 000, asset impairment charges of US$200 000–300 000 and inventory write-down and other associated costs of US$200 000. Additionally, the company intends to sell its facility in the Netherlands, generating an expected gain of US$300 000. For further information, visit www.cantelmedical.com
3M to acquire Swiss filtration supplier
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M has entered into a definitive agreement to acquire Ligacon AG, a Switzerland-based manufacturer and supplier of filtration systems and filter elements for the pharmaceutical, biotech and general industrial markets. “The combination of 3M’s technology leadership and Ligacon’s broad customer reach and customization capabilities will accelerate growth and enable us to deliver the right solutions to meet the needs of the filtration industry,” said Tony Theunissen, vice president and general manager of 3M’s Cuno Inc. “The acquisition of Ligacon allows 3M to offer complete filtration system solutions and better serve our customers in Switzerland and beyond,” said Reza Vaziri, managing director, 3M Switzerland. “As part of 3M Cuno Filtration, Ligacon will gain access to 3M technologies and developments, which will allow improved offerings to the market and provide an excellent base for attractive growth and opening up new market segments,” said Juerg Roell, CEO and co-owner, Ligacon. Ligacon, a distributor of Cuno products, employs about 20 people at its headquarters in Tagelswangen, Switzerland. Founded in
August 2008
1977, Ligacon is owned by the Roell family. The deal is expected to close in the third quarter of this year. For further information, visit www.3M.com and www. ligacon.ch
Shareholders meet to consider new Peerless holding company
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eerless Mfg Co is planning a special shareholder meeting on 14 August 2008 to approve a reorganization of Peerless into a Delaware holding company structure. In the reorganization, Peerless would become a wholly owned subsidiary of PMFG Inc, a newly formed Delaware corporation. The current business, operations and management of Peerless will not change as a result of the planned reorganization. Under that reorganization, the shareholders of Peerless would receive two shares of PMFG common stock for each share of Peerless common stock that they own. As a result, the reorganization will have the same effect as a two-for-one stock split. The shares of PMFG common stock are expected to trade on the Nasdaq Global Market under the ticker symbol “PMFG,” the same ticker symbol under which shares of Peerless common stock currently trade. Shareholders of record on 1 July 2008 will be entitled to attend and vote at the special meeting to approve the reorganization.
For further information, visit www.peerlessmfg.com
Dow to build global water technology development centre in Spain
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ow Water Solutions is building a water technology development centre at the company’s plant in Tarragona, Spain. The centre will include product application development and component testing facilities, and is designed to accelerate the commercialization of Dow’s membrane and ultrafiltration technologies.
In Brief • Kim Webster, a senior buyer and longterm employee from Donaldson Co’s Leicester, UK plant, will ring The Closing Bell at the New York Stock Exchange on 4 September 2008 to celebrate the achievement of the company’s first US$2 billion sales year (see Filtration Industry Analyst, July 2008). Webster was randomly selected from the 150 employees who correctly guessed 30 June 2008 as the date that Donaldson would reach US$2 billion in sales in their “Guess the Date We Hit US$2 billion” event. Actual fourth quarter and full year results will be announced on 2 September 2008. www.donaldson.com • Millipore Corp has awarded Dr Jeanne Loring PhD a US$150 000 grant for her work in stem cell research at The Scripps Research Institute of California. www.millipore.com. • Membrana has launched fully-functional website portals in Chinese and German at www.liqui-cel.cn and www. liqui-cel.de. A Japanese portal was launched in April to support the LiquiCel degassing products. www.liqui-cel.com • Ahlstrom has announced price increases on filter media products, as a result of rising raw material prices and energy costs. The price increase will affect filtration grades produced by Ahlstrom globally and will be effective from 1 August 2008. www.ahlstrom.com • From 1 August 2008, Johns Manville is increasing its prices for filter media products because of increased energy costs and raw material prices. www.jm.com • Porvair plc has acquired Seal Analytical Ltd, a manufacturer of water quality analysis equipment for environmental and industrial laboratories. Seal is being acquired from its shareholders who include The South East Growth Fund and Tim Brittain, Seal’s managing director. For the financial year ended 30 June 2008, Seal is expected to report revenues of £7.6 million and profit before tax of £0.5 million. Seal is based in the UK and has larger operations in the USA and Germany. www.porvair.com
Filtration Industry Analyst
3
3M to acquire Swiss filtration supplier
3
M has entered into a definitive agreement to acquire Ligacon AG, a Switzerland-based manufacturer and supplier of filtration systems and filter elements for the pharmaceutical, biotech and general industrial markets. “The combination of 3M’s technology leadership and Ligacon’s broad customer reach and customization capabilities will accelerate growth and enable us to deliver the right solutions to meet the needs of the filtration industry,” said Tony Theunissen, vice president and general manager of 3M’s Cuno Inc. “The acquisition of Ligacon allows 3M to offer complete filtration system solutions and better serve our customers in Switzerland and beyond,” said Reza Vaziri, managing director, 3M Switzerland. “As part of 3M Cuno Filtration, Ligacon will gain access to 3M technologies and developments, which will allow improved offerings to the market and provide an excellent base for attractive growth and opening up new market segments,” said Juerg Roell, CEO and co-owner, Ligacon. Ligacon, a distributor of Cuno products, employs about 20 people at its headquarters in Tagelswangen, Switzerland. Founded in
August 2008
1977, Ligacon is owned by the Roell family. The deal is expected to close in the third quarter of this year. For further information, visit www.3M.com and www. ligacon.ch
Shareholders meet to consider new Peerless holding company
P
eerless Mfg Co is planning a special shareholder meeting on 14 August 2008 to approve a reorganization of Peerless into a Delaware holding company structure. In the reorganization, Peerless would become a wholly owned subsidiary of PMFG Inc, a newly formed Delaware corporation. The current business, operations and management of Peerless will not change as a result of the planned reorganization. Under that reorganization, the shareholders of Peerless would receive two shares of PMFG common stock for each share of Peerless common stock that they own. As a result, the reorganization will have the same effect as a two-for-one stock split. The shares of PMFG common stock are expected to trade on the Nasdaq Global Market under the ticker symbol “PMFG,” the same ticker symbol under which shares of Peerless common stock currently trade. Shareholders of record on 1 July 2008 will be entitled to attend and vote at the special meeting to approve the reorganization.
For further information, visit www.peerlessmfg.com
Dow to build global water technology development centre in Spain
D
ow Water Solutions is building a water technology development centre at the company’s plant in Tarragona, Spain. The centre will include product application development and component testing facilities, and is designed to accelerate the commercialization of Dow’s membrane and ultrafiltration technologies.
In Brief • Kim Webster, a senior buyer and longterm employee from Donaldson Co’s Leicester, UK plant, will ring The Closing Bell at the New York Stock Exchange on 4 September 2008 to celebrate the achievement of the company’s first US$2 billion sales year (see Filtration Industry Analyst, July 2008). Webster was randomly selected from the 150 employees who correctly guessed 30 June 2008 as the date that Donaldson would reach US$2 billion in sales in their “Guess the Date We Hit US$2 billion” event. Actual fourth quarter and full year results will be announced on 2 September 2008. www.donaldson.com • Millipore Corp has awarded Dr Jeanne Loring PhD a US$150 000 grant for her work in stem cell research at The Scripps Research Institute of California. www.millipore.com. • Membrana has launched fully-functional website portals in Chinese and German at www.liqui-cel.cn and www. liqui-cel.de. A Japanese portal was launched in April to support the LiquiCel degassing products. www.liqui-cel.com • Ahlstrom has announced price increases on filter media products, as a result of rising raw material prices and energy costs. The price increase will affect filtration grades produced by Ahlstrom globally and will be effective from 1 August 2008. www.ahlstrom.com • From 1 August 2008, Johns Manville is increasing its prices for filter media products because of increased energy costs and raw material prices. www.jm.com • Porvair plc has acquired Seal Analytical Ltd, a manufacturer of water quality analysis equipment for environmental and industrial laboratories. Seal is being acquired from its shareholders who include The South East Growth Fund and Tim Brittain, Seal’s managing director. For the financial year ended 30 June 2008, Seal is expected to report revenues of £7.6 million and profit before tax of £0.5 million. Seal is based in the UK and has larger operations in the USA and Germany. www.porvair.com
Filtration Industry Analyst
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