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Ahlstrom agrees €250mn Revolving Credit Facility
NEWS opportunity to reach the North American municipal market through a well-established and professional organization,” said Terje Andersen, CEO of Biowater Technology. “Biowater’s innovative solutions fit well with Parkson’s current product offerings, and our companies have a shared goal of maximizing water reuse and energy savings, while minimizing costs.” Biowater has also developed a complete package system that can be installed for wastewater treatment applications. Packed into a shipping container, these systems can be transported around the world and set up to process wastewater and release clean, safe effluent into the environment. Parkson already has experience with this technology, with more than 60 MBBR packaged plants built to serve its customers in the oil and gas industry. For further information, visit www.parkson.com and www.biowatertechnology.com
Nalco and Ecolab to merge
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ater treatment specialist Nalco Holding Co is to merge with a subsidiary of food safety and healthcare company Ecolab Inc in a transaction valued at approximately US$8 billion, including assumed Nalco net debt. The deal will see Ecolab pay approximately US$5.4 billion, valuing Nalco stock at US$38.80 per share. “Through our participation in the water sector and our strategic planning work, we identified water management as a key future growth segment for us given its growth characteristics and importance to our customers,” said Douglas Baker, Ecolab’s chairman, president and CEO. “Nalco’s deep industry expertise, strong brands and leading market positions will add important products and services to Ecolab, creating a strong, combined platform for future growth,” added Baker. Erik Fyrwald, Nalco’s chairman, president and CEO, said: “This is a compelling strategic transaction that delivers an immediate premium to our shareholders and the opportunity to participate in the significant upside potential of the combined organization. We have long admired Ecolab, and we share similar cultures and business models. We look forward to working together to realize the 4
Filtration Industry Analyst
benefits for all of our stakeholders, including our shareholders, customers and employees.” For further information, visit www.nalco.com and www.ecolab.com
Memstar ready for mass-production of TIPS membrane products
S
ingapore membrane company Memstar Technology Ltd is ready for large-scale production of its newly launched TIPS PVDF hollow fibre membrane and related products. Memstar CEO Dr Ge Hailin says the new TIPS hollow fibre membrane will greatly improve the performance and efficiency of PVDF hollow fibre membrane for water and wastewater treatment. Memstar PVDF hollow fibre membrane products have been widely used on various water/wastewater treatment projects in China, South East Asia, Taiwan, Europe and North/South America. The Memstar PVDF membrane has recently been certified by NSF for drinking water applications, which Memstar says allows it to compete for large international drinking water projects.
For further information, visit www.memstar.conm.sg
Ahlstrom agrees E250mn Revolving Credit Facility
F
ilter media manufacturer Ahlstrom Corp has entered into a new E250 million five year Revolving Credit Facility. The new committed credit facility, which is to be used for general corporate purposes, refinances Ahlstrom’s existing E200 million Revolving Credit Facility dated 15 July 2009. Mandated lead arrangers and bookrunners were DnB NOR Bank ASA, Merchant Banking, Skandinaviska Enskilda Banken AB (publ), Nordea, Pohjola Bank plc, Sampo Bank plc, and Swedbank AB (publ). BNP Paribas Corporate & Investment Banking and Crédit Agricole Corporate and Investment Bank acted as lead arrangers.
Meanwhile Ahlstrom has revised down its operating profit forecasts for 2011. The company now expects its 2011 operating profit excluding non-recurring items (NRI) to be E75 million–95 million instead of the previous estimate of E90 million–110 million, due to continuing cost inflation in raw materials prices. Ahlstrom says its sales volumes have been developing as expected, but because of challenging market conditions it has not been able to fully pass on the increases in raw material costs to its selling prices. The company is maintaining the current outlook for net sales of E1920 million–2080 million. Ahlstrom will continue to proactively manage its selling prices in order to compensate for the increases in raw materials prices. The company says that it will also take action to further streamline its cost structure to gain efficiencies in the supply chain, particularly in manufacturing and sourcing. For further information, visit www.ahlstrom.com
Aker Solutions forms solids control sales and services JV
O
il services company Aker Solutions is expanding in the solids control and drilling waste management services market by establishing a new company that will offer services to the global onshore and offshore drilling market. STEP Oiltools is a joint venture between Aker Solutions’ wholly-owned subsidiary STEP Offshore, and Chris Pianca, a 40 yearveteran of the drilling waste management business. The initial focus of the new company will be on representing the Derrick Equipment Co in Russia, the Caspian Sea region and West Africa. STEP Oiltools will also service and lease solids control equipment and filtration products in Russia, the Caspian Sea region, Asia and the Middle East. Long term, the company will offer a fully integrated package including the full range of solids control, drilling waste management and filtration services supported by a worldwide service organisation. For further information, visit www.akersolutions.com
July 2011
Nalco and Ecolab to merge
W
ater treatment specialist Nalco Holding Co is to merge with a subsidiary of food safety and healthcare company Ecolab Inc in a transaction valued at approximately US$8 billion, including assumed Nalco net debt. The deal will see Ecolab pay approximately US$5.4 billion, valuing Nalco stock at US$38.80 per share. “Through our participation in the water sector and our strategic planning work, we identified water management as a key future growth segment for us given its growth characteristics and importance to our customers,” said Douglas Baker, Ecolab’s chairman, president and CEO. “Nalco’s deep industry expertise, strong brands and leading market positions will add important products and services to Ecolab, creating a strong, combined platform for future growth,” added Baker. Erik Fyrwald, Nalco’s chairman, president and CEO, said: “This is a compelling strategic transaction that delivers an immediate premium to our shareholders and the opportunity to participate in the significant upside potential of the combined organization. We have long admired Ecolab, and we share similar cultures and business models. We look forward to working together to realize the 4
Filtration Industry Analyst
benefits for all of our stakeholders, including our shareholders, customers and employees.” For further information, visit www.nalco.com and www.ecolab.com
Memstar ready for mass-production of TIPS membrane products
S
ingapore membrane company Memstar Technology Ltd is ready for large-scale production of its newly launched TIPS PVDF hollow fibre membrane and related products. Memstar CEO Dr Ge Hailin says the new TIPS hollow fibre membrane will greatly improve the performance and efficiency of PVDF hollow fibre membrane for water and wastewater treatment. Memstar PVDF hollow fibre membrane products have been widely used on various water/wastewater treatment projects in China, South East Asia, Taiwan, Europe and North/South America. The Memstar PVDF membrane has recently been certified by NSF for drinking water applications, which Memstar says allows it to compete for large international drinking water projects.
For further information, visit www.memstar.conm.sg
Ahlstrom agrees E250mn Revolving Credit Facility
F
ilter media manufacturer Ahlstrom Corp has entered into a new E250 million five year Revolving Credit Facility. The new committed credit facility, which is to be used for general corporate purposes, refinances Ahlstrom’s existing E200 million Revolving Credit Facility dated 15 July 2009. Mandated lead arrangers and bookrunners were DnB NOR Bank ASA, Merchant Banking, Skandinaviska Enskilda Banken AB (publ), Nordea, Pohjola Bank plc, Sampo Bank plc, and Swedbank AB (publ). BNP Paribas Corporate & Investment Banking and Crédit Agricole Corporate and Investment Bank acted as lead arrangers.
Meanwhile Ahlstrom has revised down its operating profit forecasts for 2011. The company now expects its 2011 operating profit excluding non-recurring items (NRI) to be E75 million–95 million instead of the previous estimate of E90 million–110 million, due to continuing cost inflation in raw materials prices. Ahlstrom says its sales volumes have been developing as expected, but because of challenging market conditions it has not been able to fully pass on the increases in raw material costs to its selling prices. The company is maintaining the current outlook for net sales of E1920 million–2080 million. Ahlstrom will continue to proactively manage its selling prices in order to compensate for the increases in raw materials prices. The company says that it will also take action to further streamline its cost structure to gain efficiencies in the supply chain, particularly in manufacturing and sourcing. For further information, visit www.ahlstrom.com
Aker Solutions forms solids control sales and services JV
O
il services company Aker Solutions is expanding in the solids control and drilling waste management services market by establishing a new company that will offer services to the global onshore and offshore drilling market. STEP Oiltools is a joint venture between Aker Solutions’ wholly-owned subsidiary STEP Offshore, and Chris Pianca, a 40 yearveteran of the drilling waste management business. The initial focus of the new company will be on representing the Derrick Equipment Co in Russia, the Caspian Sea region and West Africa. STEP Oiltools will also service and lease solids control equipment and filtration products in Russia, the Caspian Sea region, Asia and the Middle East. Long term, the company will offer a fully integrated package including the full range of solids control, drilling waste management and filtration services supported by a worldwide service organisation. For further information, visit www.akersolutions.com
July 2011