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Aviall to distribute Sofrance filtration products
DIVIDENDS/NEWS
Dividends UÊ Parker Hannifin Corp’s board of directors has increased the company’s regular quarterly cash dividend by 5% to US$0.43 per share of common stock. The dividend will be paid on 1 March 2013 to shareholders of record on 8 February 2013. This is the company’s 251st consecutive quarterly dividend, resulting in a total distribution to shareholders of US$64 million. “This increase reflects the board’s confidence in our financial strength and our continued ability to generate strong cash flows despite uncertain macroeconomic conditions,” said Jon Marten, Parker Hannifin executive vice president - Finance and Administration and chief financial officer. “By focusing on the initiatives defined by the Win Strategy we have been able to maintain a strong balance sheet while having the flexibility to return value to our shareholders in the form of a consistently increasing dividend payout.” www.parker.com UÊ / iÊ Donaldson Co Inc board has increased the quarterly common stock cash dividend by 11%, from US$0.09 per share to US$0.10 per share. The regular cash dividend will be paid on 8 March 2013 to shareholders of record on 15 February 2013. As of 31 December 2013, there were 146.6 million shares outstanding. This is the 230th consecutive quarterly cash dividend paid by Donaldson over 57 years. www.donaldson.com UÊ Cummins Inc will pay a quarterly common stock cash dividend of US$0.50 per share on 1 March 2013 to shareholders of record on 22 February 2013. www.cummins.com UÊ Met-Pro Corp’s quarterly US$0.0725 per share dividend will be paid on 15 March 2013 to shareholders of record on 1 March 2013. This is the 22nd consecutive year that Met-Pro has paid a cash dividend. www.metpro.com UÊ Pall Corp distributed a quarterly dividend of US$0.25 per share on 22 February 2013. The Pall board also increased the company’s authorisation to repurchase shares of its common stock by US$250 million, with no time restriction. www.pall.com
4
Filtration Industry Analyst
Aviall to distribute Sofrance filtration products
A
viall Services Inc has entered into a distribution agreement to market and distribute spare filtration products designed and manufactured by Sofrance. Dallas-headquartered Aviall, a subsidiary of The Boeing Co, will market and distribute Sofrance aftermarket products to customers in the commercial sector from its 40 global customer service centres in North America, Europe and Asia-Pacific. Sofrance, a subsidiary of Safran Group, develops solutions to filter fluids and gases to protect equipment in aeronautics, industry, defence and space. The company supports a large variety of airframes, engines, operators, and MROs in the aerospace industry. “We are pleased to announce that Sofrance has selected Aviall to help distribute its products,” said Dan Komnenovich, president and CEO of Aviall Inc. “The Sofrance line of products complements our existing market basket enabling us to expand our product offerings and better serve our customers around the world.” “We are very pleased to announce the appointment of Aviall as a worldwide distributor of our products,” said Pierre Farrenq, CEO of Sofrance. “We look forward to our mutual growth as a result of this strategic partnership.” For further information, visit www.aviall.com and www.sofrance.com
SKF seals Blohm + Voss acquisition
S
wedish bearings maker SKF has completed the acquisition of the German ship component manufacturer Blohm + Voss Industries (see Filtration Industry Analyst, January 2013). SKF paid around E80 million for Hamburg-based Blohm + Voss and assumed net loans of E18 million. Blohm + Voss makes and services equipment for critical marine applications, including shaft components (seals and bearings), stabilizers and oily water separators. The company has around 400 employees and annual sales of E100 million.
The Blohm + Voss operating margin is in line with the SKF Group. For further information, visit www.skf.com
Xylem plans new HQ
X
ylem Inc is to relocate its headquarters to a larger facility in Westchester County, New York later this year. The water technology company has signed a 10-year lease to rent the second and third floors of a building in Rye Brook, New York. Xylem, which had considered moving to other tri-state locations, received US$1.35 million in Excelsior Jobs Program tax credits and a US$1 million Capital Grant through Empire State Development. The new, expanded 67 145 sq ft space will be a Xylem-branded, world-class headquarters designed to encourage collaboration and training, as well as housing an innovation centre. Construction will begin in the second quarter of 2013. The move is expected to be completed in the fourth quarter of 2013, marking the company’s second anniversary as a standalone company following the spinoff of ITT Corp’s water businesses in October 2011. Xylem is currently headquartered in White Plains, New York.
For further information, visit www.xyleminc.com
Mitsubishi Rayon signs MBR distribution agreement in Vietnam
M
itsubishi Rayon Co Ltd has entered into a distributor agreement with the Vietnamese engineering firm Greentech Environment Joint Stock Co in order to strengthen its water treatmentrelated business in Vietnam. Through Greentech, Mitsubishi Rayon will market membrane bio-reactor (MBR) hollow fibre membranes for use in wastewater treatment equipment installed in hospitals, hotels, factories and other facilities. Mitsubishi Rayon aims to expand the Vietnamese MBR market in cooperation with universities, research institutes and other organisations.
For further information, visit www.mrc.co.jp and www.greentechvietnam.com
February 2013
Dividends UÊ Parker Hannifin Corp’s board of directors has increased the company’s regular quarterly cash dividend by 5% to US$0.43 per share of common stock. The dividend will be paid on 1 March 2013 to shareholders of record on 8 February 2013. This is the company’s 251st consecutive quarterly dividend, resulting in a total distribution to shareholders of US$64 million. “This increase reflects the board’s confidence in our financial strength and our continued ability to generate strong cash flows despite uncertain macroeconomic conditions,” said Jon Marten, Parker Hannifin executive vice president - Finance and Administration and chief financial officer. “By focusing on the initiatives defined by the Win Strategy we have been able to maintain a strong balance sheet while having the flexibility to return value to our shareholders in the form of a consistently increasing dividend payout.” www.parker.com UÊ / iÊ Donaldson Co Inc board has increased the quarterly common stock cash dividend by 11%, from US$0.09 per share to US$0.10 per share. The regular cash dividend will be paid on 8 March 2013 to shareholders of record on 15 February 2013. As of 31 December 2013, there were 146.6 million shares outstanding. This is the 230th consecutive quarterly cash dividend paid by Donaldson over 57 years. www.donaldson.com UÊ Cummins Inc will pay a quarterly common stock cash dividend of US$0.50 per share on 1 March 2013 to shareholders of record on 22 February 2013. www.cummins.com UÊ Met-Pro Corp’s quarterly US$0.0725 per share dividend will be paid on 15 March 2013 to shareholders of record on 1 March 2013. This is the 22nd consecutive year that Met-Pro has paid a cash dividend. www.metpro.com UÊ Pall Corp distributed a quarterly dividend of US$0.25 per share on 22 February 2013. The Pall board also increased the company’s authorisation to repurchase shares of its common stock by US$250 million, with no time restriction. www.pall.com
4
Filtration Industry Analyst
Aviall to distribute Sofrance filtration products
A
viall Services Inc has entered into a distribution agreement to market and distribute spare filtration products designed and manufactured by Sofrance. Dallas-headquartered Aviall, a subsidiary of The Boeing Co, will market and distribute Sofrance aftermarket products to customers in the commercial sector from its 40 global customer service centres in North America, Europe and Asia-Pacific. Sofrance, a subsidiary of Safran Group, develops solutions to filter fluids and gases to protect equipment in aeronautics, industry, defence and space. The company supports a large variety of airframes, engines, operators, and MROs in the aerospace industry. “We are pleased to announce that Sofrance has selected Aviall to help distribute its products,” said Dan Komnenovich, president and CEO of Aviall Inc. “The Sofrance line of products complements our existing market basket enabling us to expand our product offerings and better serve our customers around the world.” “We are very pleased to announce the appointment of Aviall as a worldwide distributor of our products,” said Pierre Farrenq, CEO of Sofrance. “We look forward to our mutual growth as a result of this strategic partnership.” For further information, visit www.aviall.com and www.sofrance.com
SKF seals Blohm + Voss acquisition
S
wedish bearings maker SKF has completed the acquisition of the German ship component manufacturer Blohm + Voss Industries (see Filtration Industry Analyst, January 2013). SKF paid around E80 million for Hamburg-based Blohm + Voss and assumed net loans of E18 million. Blohm + Voss makes and services equipment for critical marine applications, including shaft components (seals and bearings), stabilizers and oily water separators. The company has around 400 employees and annual sales of E100 million.
The Blohm + Voss operating margin is in line with the SKF Group. For further information, visit www.skf.com
Xylem plans new HQ
X
ylem Inc is to relocate its headquarters to a larger facility in Westchester County, New York later this year. The water technology company has signed a 10-year lease to rent the second and third floors of a building in Rye Brook, New York. Xylem, which had considered moving to other tri-state locations, received US$1.35 million in Excelsior Jobs Program tax credits and a US$1 million Capital Grant through Empire State Development. The new, expanded 67 145 sq ft space will be a Xylem-branded, world-class headquarters designed to encourage collaboration and training, as well as housing an innovation centre. Construction will begin in the second quarter of 2013. The move is expected to be completed in the fourth quarter of 2013, marking the company’s second anniversary as a standalone company following the spinoff of ITT Corp’s water businesses in October 2011. Xylem is currently headquartered in White Plains, New York.
For further information, visit www.xyleminc.com
Mitsubishi Rayon signs MBR distribution agreement in Vietnam
M
itsubishi Rayon Co Ltd has entered into a distributor agreement with the Vietnamese engineering firm Greentech Environment Joint Stock Co in order to strengthen its water treatmentrelated business in Vietnam. Through Greentech, Mitsubishi Rayon will market membrane bio-reactor (MBR) hollow fibre membranes for use in wastewater treatment equipment installed in hospitals, hotels, factories and other facilities. Mitsubishi Rayon aims to expand the Vietnamese MBR market in cooperation with universities, research institutes and other organisations.
For further information, visit www.mrc.co.jp and www.greentechvietnam.com
February 2013