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Abtech Holdings secures US$3.7mn equity funding to pay down debt
NEWS/DIVIDENDS commercial director, Dow Water & Process Solutions (DW&PS), Europe, Middle East and Africa. Earlier this year, Dow and SWCC signed a memorandum of understanding to pursue joint development activities in desalination technologies. For further information, visit www. dowwaterandprocess.com and www.dow.com
Xylem included in Dow Jones Sustainability Indexes
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n its first year as a standalone company, Xylem Inc has been included in the Dow Jones Sustainability World Index and the Dow Jones Sustainability North America Index. Xylem is one of 340 companies recognised on this year’s World Index and one of 140 companies on this year’s North America Index. “This is a major acknowledgment of all of the work we’ve done to advance sustainable business practices and solutions, and report our progress transparently over time,” said Gretchen McClain, Xylem’s president and CEO. “Xylem’s selection to the World and North America Indexes is an important benchmark and validates the focus we’re putting on our sustainability initiatives.”
For further information, visit www.xyleminc.com and www.sustainability-index.com
GKD expands in Latin America
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KD – Gebr Kufferath AG has established a joint venture subsidiary in Chile with Eco Inversiones Limitada. GKD LatAm SA, based in Santiago de Chile, will handle development, production and commercialisation of filter media, process belts, architectural and design mesh, as well as systems technology for defined solid-liquid filtration markets. GKD has a 70% stake in the new company which will cater for many local filtration technology requirements including vertical pressure leaf filter elements, re-screenable
September 2012
plate filtration elements for local vegetable oil filtration, filter media for fish processing and high-precision woven solutions for complex processes in the chemical industry’s solid-liquid separation operations. “Our goal with GKD LatAm is to expand the strong market position we already enjoy in the fields of architecture and process belt meshes, and to drive forward introduction of filter media for demanding applications,” said Dr Stephan Kufferath, a director at GKD, which has been represented in Chile since the 1980s. The new 1400 sq m production site is a full state-of-the-art manufacturing unit with loom, straightening unit and complete product finishing area. Spiral mesh production will be relocated from Spain to Chile and there is also potential to set up an automated production facility for NeverLeak filter plates. GKD LatAm currently has ten members of staff, with Enrique Celedón assuming general management duties. For further information, visit www.gkd.de
Abtech Holdings secures US$3.7mn equity funding to pay down debt
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btech Holdings Inc has completed a US$3.73 million private placement with the sale of approximately 4.84 million shares of its restricted common stock priced at US$0.77 per share to accredited investors, including participation by a member of its board of directors. The investors also received five-year warrants that are exercisable into a total of 484 083 shares (10% warrant coverage) of the company’s common stock at US$0.90 per share. Axiom Capital Management Inc acted as the placement agent for the transaction. The company plans to use the proceeds from the private placement to repay any of its outstanding convertible debt that does not convert into shares of common stock. For further information, visit www.abtechindustries.com
Dividends UÊ Xylem Inc paid a third quarter dividend of US$0.1012 per share on 19 September 2012 to shareholders of record on 27 August 2012. The Xylem board has also authorised the repurchase of up to two million shares of common stock with no expiration date. The program is designed to offset dilution associated with various Xylem employee stock plans by acquiring shares in the open market from time to time. www.xyleminc.com UÊ Metso Corp’s board is to convene an Extraordinary General Meeting on 12 October 2012 to decide on an extra dividend. The board will propose an extra dividend of E0.50 per share for the financial year ended 31 December 2011 in addition to the E1.70 per share dividend already paid. In February 2012, Metso announced that it would consider recommending payment of an extra dividend later in the year and the board believes that the company’s sound financial position now enables the payment of such a dividend. The extra dividend will be payable on 24 October 2012 to shareholders of record on 17 October 2012. All Metso shares are entitled to the dividend except those held by the company. www.metso.com UÊ Esco Technologies Inc’s next quarterly cash dividend of US$0.08 per share will be paid on 19 October 2012 to stockholders of record on 5 October 2012. The company’s board has also authorised an expanded stock repurchase program where management may repurchase shares of its outstanding stock in the open market and otherwise up to 30 September 2013. www.escotechnologies.com UÊ SPX Corp’s board has declared a quarterly dividend of US$0.25 per common share payable on 3 October 2012 to shareholders of record on 14 September 2012. www.spx.com UÊ ITT Corp will pay a cash dividend of US$0.091 per share for the third quarter of 2012 on 1 October 2012, to shareholders of record on 31 August 2012. www.itt.com
Filtration Industry Analyst
5
Xylem included in Dow Jones Sustainability Indexes
I
n its first year as a standalone company, Xylem Inc has been included in the Dow Jones Sustainability World Index and the Dow Jones Sustainability North America Index. Xylem is one of 340 companies recognised on this year’s World Index and one of 140 companies on this year’s North America Index. “This is a major acknowledgment of all of the work we’ve done to advance sustainable business practices and solutions, and report our progress transparently over time,” said Gretchen McClain, Xylem’s president and CEO. “Xylem’s selection to the World and North America Indexes is an important benchmark and validates the focus we’re putting on our sustainability initiatives.”
For further information, visit www.xyleminc.com and www.sustainability-index.com
GKD expands in Latin America
G
KD – Gebr Kufferath AG has established a joint venture subsidiary in Chile with Eco Inversiones Limitada. GKD LatAm SA, based in Santiago de Chile, will handle development, production and commercialisation of filter media, process belts, architectural and design mesh, as well as systems technology for defined solid-liquid filtration markets. GKD has a 70% stake in the new company which will cater for many local filtration technology requirements including vertical pressure leaf filter elements, re-screenable
September 2012
plate filtration elements for local vegetable oil filtration, filter media for fish processing and high-precision woven solutions for complex processes in the chemical industry’s solid-liquid separation operations. “Our goal with GKD LatAm is to expand the strong market position we already enjoy in the fields of architecture and process belt meshes, and to drive forward introduction of filter media for demanding applications,” said Dr Stephan Kufferath, a director at GKD, which has been represented in Chile since the 1980s. The new 1400 sq m production site is a full state-of-the-art manufacturing unit with loom, straightening unit and complete product finishing area. Spiral mesh production will be relocated from Spain to Chile and there is also potential to set up an automated production facility for NeverLeak filter plates. GKD LatAm currently has ten members of staff, with Enrique Celedón assuming general management duties. For further information, visit www.gkd.de
Abtech Holdings secures US$3.7mn equity funding to pay down debt
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btech Holdings Inc has completed a US$3.73 million private placement with the sale of approximately 4.84 million shares of its restricted common stock priced at US$0.77 per share to accredited investors, including participation by a member of its board of directors. The investors also received five-year warrants that are exercisable into a total of 484 083 shares (10% warrant coverage) of the company’s common stock at US$0.90 per share. Axiom Capital Management Inc acted as the placement agent for the transaction. The company plans to use the proceeds from the private placement to repay any of its outstanding convertible debt that does not convert into shares of common stock. For further information, visit www.abtechindustries.com
Dividends UÊ Xylem Inc paid a third quarter dividend of US$0.1012 per share on 19 September 2012 to shareholders of record on 27 August 2012. The Xylem board has also authorised the repurchase of up to two million shares of common stock with no expiration date. The program is designed to offset dilution associated with various Xylem employee stock plans by acquiring shares in the open market from time to time. www.xyleminc.com UÊ Metso Corp’s board is to convene an Extraordinary General Meeting on 12 October 2012 to decide on an extra dividend. The board will propose an extra dividend of E0.50 per share for the financial year ended 31 December 2011 in addition to the E1.70 per share dividend already paid. In February 2012, Metso announced that it would consider recommending payment of an extra dividend later in the year and the board believes that the company’s sound financial position now enables the payment of such a dividend. The extra dividend will be payable on 24 October 2012 to shareholders of record on 17 October 2012. All Metso shares are entitled to the dividend except those held by the company. www.metso.com UÊ Esco Technologies Inc’s next quarterly cash dividend of US$0.08 per share will be paid on 19 October 2012 to stockholders of record on 5 October 2012. The company’s board has also authorised an expanded stock repurchase program where management may repurchase shares of its outstanding stock in the open market and otherwise up to 30 September 2013. www.escotechnologies.com UÊ SPX Corp’s board has declared a quarterly dividend of US$0.25 per common share payable on 3 October 2012 to shareholders of record on 14 September 2012. www.spx.com UÊ ITT Corp will pay a cash dividend of US$0.091 per share for the third quarter of 2012 on 1 October 2012, to shareholders of record on 31 August 2012. www.itt.com
Filtration Industry Analyst
5