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Akastor to sell Fjords Processing to National Oilwell Varco
NEWS/DIVIDENDS “To us at Process Partner, the acquisition brings a stable owner, with a vast experience in the process industry and the financial strength to grow the business. Our product portfolios complement each other well in our traditional markets and therefore present interesting synergies. With this acquisition we also see a great possibility to extend our customer base and gain increased market share,” said Per Kristian Vaagland, managing director of Process Partner. For further information, visit www.axflow.com and www.processpartner.no
Pentair completes Vaki purchase
P
entair Aquatic Eco-Systems Inc has acquired Vaki Aquaculture Systems Ltd, the Icelandic aquaculture equipment manufacturer (see Pump Industry Analyst, October 2016). Vaki designs and manufactures fish handling, counting and grading solutions for a range of aquaculture applications, including the Heathro fish pump. Vaki also develops technology for biomass estimation in aquaculture systems. The addition of Vaki is expected to strengthen Pentair Aquatic Eco-Systems’ business by broadening its range of systems, products and services in the growing aquaculture market space.
For further information, visit www.vaki.is, www. pentairaes.com and www.pentair.com
Aker Solutions to acquire majority interest in Brazil’s CSE
A
ker Solutions is buying a 70% stake in Brazil’s CSE Mecânica e Instrumentação Ltda. CSE, which had revenue of BRL322 million in 2015, provides maintenance,
November 2016
assembly, commissioning and crane operation services at offshore and onshore facilities. The acquisition gives Aker Solutions access to Brazil’s growing market for servicing existing oil and gas fields. “Aker Solutions has established a solid presence and reputation in Brazil’s oil and gas market over the past 40 years and entry into the country’s brownfield segment is an attractive growth opportunity,” said Aker Solutions CEO Luis Araujo. “Joining forces with a successful local player like CSE fits well with the internationalization of our services business, allowing us to bring our competence, knowledge and experience within this field to this important and growing region.” The agreement includes an option to purchase the remaining 30% of the company three years after the transaction closes. For further information, visit www.akersolutions.com and www.csemil.com.br
Akastor to sell Fjords Processing to National Oilwell Varco
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orwegian oil services investment company Akastor ASA has entered into a definitive agreement to sell Fjords Processing to National Oilwell Varco (NOV) in a NOK1200 million deal. Oslo-headquartered Fjords Processing specializes in process support systems for gas, oil and water. Technologies include filtration, separation, flotation, dehydration and desalting. Clay Williams, CEO of NOV, said “We see significant potential in combining the capabilities of Fjords technology with our existing NOV platform, which includes complementary solutions and services, as well as a broad infrastructure to enable market expansion and significant cost reductions.” The deal is expected to close this year, pending clearance from Norwegian and Korean competition authorities.
Dividends • At its 27 October 2016 meeting, the Gorman-Rupp Co’s board of directors announced a 9.5% increase in its quarterly cash dividend to US$0.115 per share on the common stock of the company. Payable on 9 December 2016, this will mark the 267th consecutive quarterly dividend paid by Gorman-Rupp and the 44th consecutive year of increased dividends paid to its shareholders. www.gormanrupp.com • Roper Technologies Inc’s board has declared a quarterly cash dividend of US$0.35 per share, payable on 23 January 2017 to stockholders of record on 9 January 2017. This represents a US$0.05, or 17%, per share increase over the dividend paid in each quarter of 2016, as well as the 24th consecutive year in which Roper’s dividend has increased. www.ropertech.com • National Oilwell Varco Inc’s next regular quarterly cash dividend of US$0.05 per share of common stock is payable on 16 December 2016 to each stockholder of record on 2 December 2016. www.nov.com • Curtiss-Wright Corp will pay a dividend of US$0.13 per share on the company’s common stock, on 9 December 2016 to stockholders of record on 28 November 2016. www.curtisswright.com • The next regular Dover Corp quarterly cash dividend of US$0.44 per share is payable on 15 December 2016. www.dovercorporation.com • CECO Environmental Corp’s board has authorised a quarterly dividend of US$0.066 per share. The dividend will be paid on 30 December 2016 to all stockholders of record on 16 December 2016. www.cecoenviro.com • Baker Hughes Inc paid a regular quarterly cash dividend of US$0.17 per share of common stock on 18 November 2016. www.bakerhughes.com
For further information, visit www.fjordsprocessing.com
Pump Industry Analyst
13
Pentair completes Vaki purchase
P
entair Aquatic Eco-Systems Inc has acquired Vaki Aquaculture Systems Ltd, the Icelandic aquaculture equipment manufacturer (see Pump Industry Analyst, October 2016). Vaki designs and manufactures fish handling, counting and grading solutions for a range of aquaculture applications, including the Heathro fish pump. Vaki also develops technology for biomass estimation in aquaculture systems. The addition of Vaki is expected to strengthen Pentair Aquatic Eco-Systems’ business by broadening its range of systems, products and services in the growing aquaculture market space.
For further information, visit www.vaki.is, www. pentairaes.com and www.pentair.com
Aker Solutions to acquire majority interest in Brazil’s CSE
A
ker Solutions is buying a 70% stake in Brazil’s CSE Mecânica e Instrumentação Ltda. CSE, which had revenue of BRL322 million in 2015, provides maintenance,
November 2016
assembly, commissioning and crane operation services at offshore and onshore facilities. The acquisition gives Aker Solutions access to Brazil’s growing market for servicing existing oil and gas fields. “Aker Solutions has established a solid presence and reputation in Brazil’s oil and gas market over the past 40 years and entry into the country’s brownfield segment is an attractive growth opportunity,” said Aker Solutions CEO Luis Araujo. “Joining forces with a successful local player like CSE fits well with the internationalization of our services business, allowing us to bring our competence, knowledge and experience within this field to this important and growing region.” The agreement includes an option to purchase the remaining 30% of the company three years after the transaction closes. For further information, visit www.akersolutions.com and www.csemil.com.br
Akastor to sell Fjords Processing to National Oilwell Varco
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orwegian oil services investment company Akastor ASA has entered into a definitive agreement to sell Fjords Processing to National Oilwell Varco (NOV) in a NOK1200 million deal. Oslo-headquartered Fjords Processing specializes in process support systems for gas, oil and water. Technologies include filtration, separation, flotation, dehydration and desalting. Clay Williams, CEO of NOV, said “We see significant potential in combining the capabilities of Fjords technology with our existing NOV platform, which includes complementary solutions and services, as well as a broad infrastructure to enable market expansion and significant cost reductions.” The deal is expected to close this year, pending clearance from Norwegian and Korean competition authorities.
Dividends • At its 27 October 2016 meeting, the Gorman-Rupp Co’s board of directors announced a 9.5% increase in its quarterly cash dividend to US$0.115 per share on the common stock of the company. Payable on 9 December 2016, this will mark the 267th consecutive quarterly dividend paid by Gorman-Rupp and the 44th consecutive year of increased dividends paid to its shareholders. www.gormanrupp.com • Roper Technologies Inc’s board has declared a quarterly cash dividend of US$0.35 per share, payable on 23 January 2017 to stockholders of record on 9 January 2017. This represents a US$0.05, or 17%, per share increase over the dividend paid in each quarter of 2016, as well as the 24th consecutive year in which Roper’s dividend has increased. www.ropertech.com • National Oilwell Varco Inc’s next regular quarterly cash dividend of US$0.05 per share of common stock is payable on 16 December 2016 to each stockholder of record on 2 December 2016. www.nov.com • Curtiss-Wright Corp will pay a dividend of US$0.13 per share on the company’s common stock, on 9 December 2016 to stockholders of record on 28 November 2016. www.curtisswright.com • The next regular Dover Corp quarterly cash dividend of US$0.44 per share is payable on 15 December 2016. www.dovercorporation.com • CECO Environmental Corp’s board has authorised a quarterly dividend of US$0.066 per share. The dividend will be paid on 30 December 2016 to all stockholders of record on 16 December 2016. www.cecoenviro.com • Baker Hughes Inc paid a regular quarterly cash dividend of US$0.17 per share of common stock on 18 November 2016. www.bakerhughes.com
For further information, visit www.fjordsprocessing.com
Pump Industry Analyst
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