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CECO Environmental makes Chinese acquisition
news/dividends
H2O Innovation begins trading on OTCQX marketplace
H
2O Innovation Inc’s common shares are now trading on the OTCQX marketplace in the United States under the ticker symbol “HEOFF”. The Canadian company continues to trade on the TSX Venture Exchange under its existing symbol “HEO” and on Euronext/ Alternext (France) under “ALHEO”. “We are confident that trading in the United States on OTCQX is an important milestone in our growth strategy and shall increase significantly our visibility with the US investor community,” said Frédéric Dugré, president and CEO of H2O Innovation. “The United States represents an important part of our business activities since a great portion of our employees are based over there and work in our major manufacturing and engineering premises located in Minnesota and California. In addition, a significant part of our sales backlog as well as existing customers are also located throughout the United States. These factors add to the relevancy to trade our common shares on OTCQX.” “H2O Innovation is not a start-up company anymore, since our growth has reached a certain level of maturity. Thus, as we are expecting growth in revenues and profitability in the coming years, we believe it is important to position the company on the right market at the right price,” added Dugré. H2O Innovation is also proposing to consolidate its common shares on the basis of one post-consolidated common share for every five pre-consolidation common shares. The proposed share consolidation is subject to the approval of H2O Innovation shareholders, by special resolution, and to the approval of the TSX Venture Exchange.
For further information, visit www.h2oinnovation.com and www.otcmarkets.com
CECO Environmental makes Chinese acquisition
C
ECO Environmental Corp has acquired SAT Technology Inc,
October 2014
a provider of Volatile Organic Compound (VOC) abatement solutions for the Chinese air pollution control (APC) market. Based in Shanghai, China, SAT Technology has annual revenues of approximately US$5 million and 17 employees. CECO Environmental will retain the entire SAT Technology organization, including its president Leo Liau who will join the CECO Environmental China and Asian leadership team. “One of our key strategic growth initiatives is to expand our operations in China both organically and through acquisitions and we are excited to welcome the SAT Technology team into the CECO China organization. We believe SAT is an excellent fit that strengthens our product portfolio and will enable us to better compete in the fast growing Chinese air pollution control (APC) market,” said Jeff Lang, CECO Environmental’s CEO. “SAT Technology is highly complementary to our Adwest Technology unit and brings an incremental technology as well as strengthening our relationships with Chinese customers. China is likely to become the world’s largest APC market in a few years and we are taking a number of steps to ensure we are well positioned to benefit from this market opportunity both today, and in the future.” For further information, visit www.cecoenviro.com
Porvair launches product validation service
P
orvair Filtration Group has introduced an in-process, product validation service for its range of polymeric cartridge filters for use within the pharmaceutical industry. Process validation of cartridge filters specific to a product is mandatory within the pharmaceutical industry to ensure compliance with standards set by regulatory authorities including the United States FDA, European Pharmacopeia and ISO 13408-2. In collaboration with FDA approved laboratories, Porvair Filtration is now offering to undertake independent testing for chemical compatibility, extractables, leachables, and bacterial retention.
For further information, visit www.porvairfiltration.com
Dividends • GEA Group has decided to increase its target dividend payout ratio from 33% to 40–50%. “Certainly, the planned increase in the dividend payout ratio to between 40% and 50% of our net income will be attractive to our shareholders. Thus, from now on, our shareholders will receive a much higher share of GEA’s profits than ever before,” said GEA Group CEO Jürg Oleas. www.gea.com • Pall Corp’s board of directors has declared an almost 11% increase in the company’s quarterly dividend from the current rate of US$0.275 to US$0.305 per share. The US$0.305 dividend is payable on 10 November 2014 to shareholders of record on 20 October 2014. www.pall.com • GE’s regular US$0.22 per share dividend on the outstanding common stock of the company is payable on 27 October 2014. www.ge.com • Pentair plc will pay a regular quarterly cash dividend of US$0.30 per share on 7 November 2014 to shareholders of record on 24 October 2014. Earlier this year Pentair shareholders approved an ordinary cash dividend of US$1.20 per share in four equal quarterly installments of US$0.30 in each of the third and fourth quarters of 2014 and the first and second quarters of 2015. Pentair paid dividends of US$0.96 per share in 2013. The company has increased its dividend for 38 consecutive years. www.pentair.com • The Cummins Inc quarterly common stock cash dividend of US$0.78 per share will be paid on 1 December 2014 to shareholders of record on 20 November 2014. www.cummins.com • ITT Corp has announced a fourthquarter cash dividend of US$0.11 per share on the company’s outstanding stock. This cash dividend will be paid on 31 December 2014, to shareholders of record on 12 December 2014. www.itt.com • Xylem Inc’s fourth quarter US$0.1280 per share dividend will be paid on 3 December 2014 to shareholders of record on 29 October 2014. www.xyleminc.com
Filtration Industry Analyst
5
H2O Innovation begins trading on OTCQX marketplace
H
2O Innovation Inc’s common shares are now trading on the OTCQX marketplace in the United States under the ticker symbol “HEOFF”. The Canadian company continues to trade on the TSX Venture Exchange under its existing symbol “HEO” and on Euronext/ Alternext (France) under “ALHEO”. “We are confident that trading in the United States on OTCQX is an important milestone in our growth strategy and shall increase significantly our visibility with the US investor community,” said Frédéric Dugré, president and CEO of H2O Innovation. “The United States represents an important part of our business activities since a great portion of our employees are based over there and work in our major manufacturing and engineering premises located in Minnesota and California. In addition, a significant part of our sales backlog as well as existing customers are also located throughout the United States. These factors add to the relevancy to trade our common shares on OTCQX.” “H2O Innovation is not a start-up company anymore, since our growth has reached a certain level of maturity. Thus, as we are expecting growth in revenues and profitability in the coming years, we believe it is important to position the company on the right market at the right price,” added Dugré. H2O Innovation is also proposing to consolidate its common shares on the basis of one post-consolidated common share for every five pre-consolidation common shares. The proposed share consolidation is subject to the approval of H2O Innovation shareholders, by special resolution, and to the approval of the TSX Venture Exchange.
For further information, visit www.h2oinnovation.com and www.otcmarkets.com
CECO Environmental makes Chinese acquisition
C
ECO Environmental Corp has acquired SAT Technology Inc,
October 2014
a provider of Volatile Organic Compound (VOC) abatement solutions for the Chinese air pollution control (APC) market. Based in Shanghai, China, SAT Technology has annual revenues of approximately US$5 million and 17 employees. CECO Environmental will retain the entire SAT Technology organization, including its president Leo Liau who will join the CECO Environmental China and Asian leadership team. “One of our key strategic growth initiatives is to expand our operations in China both organically and through acquisitions and we are excited to welcome the SAT Technology team into the CECO China organization. We believe SAT is an excellent fit that strengthens our product portfolio and will enable us to better compete in the fast growing Chinese air pollution control (APC) market,” said Jeff Lang, CECO Environmental’s CEO. “SAT Technology is highly complementary to our Adwest Technology unit and brings an incremental technology as well as strengthening our relationships with Chinese customers. China is likely to become the world’s largest APC market in a few years and we are taking a number of steps to ensure we are well positioned to benefit from this market opportunity both today, and in the future.” For further information, visit www.cecoenviro.com
Porvair launches product validation service
P
orvair Filtration Group has introduced an in-process, product validation service for its range of polymeric cartridge filters for use within the pharmaceutical industry. Process validation of cartridge filters specific to a product is mandatory within the pharmaceutical industry to ensure compliance with standards set by regulatory authorities including the United States FDA, European Pharmacopeia and ISO 13408-2. In collaboration with FDA approved laboratories, Porvair Filtration is now offering to undertake independent testing for chemical compatibility, extractables, leachables, and bacterial retention.
For further information, visit www.porvairfiltration.com
Dividends • GEA Group has decided to increase its target dividend payout ratio from 33% to 40–50%. “Certainly, the planned increase in the dividend payout ratio to between 40% and 50% of our net income will be attractive to our shareholders. Thus, from now on, our shareholders will receive a much higher share of GEA’s profits than ever before,” said GEA Group CEO Jürg Oleas. www.gea.com • Pall Corp’s board of directors has declared an almost 11% increase in the company’s quarterly dividend from the current rate of US$0.275 to US$0.305 per share. The US$0.305 dividend is payable on 10 November 2014 to shareholders of record on 20 October 2014. www.pall.com • GE’s regular US$0.22 per share dividend on the outstanding common stock of the company is payable on 27 October 2014. www.ge.com • Pentair plc will pay a regular quarterly cash dividend of US$0.30 per share on 7 November 2014 to shareholders of record on 24 October 2014. Earlier this year Pentair shareholders approved an ordinary cash dividend of US$1.20 per share in four equal quarterly installments of US$0.30 in each of the third and fourth quarters of 2014 and the first and second quarters of 2015. Pentair paid dividends of US$0.96 per share in 2013. The company has increased its dividend for 38 consecutive years. www.pentair.com • The Cummins Inc quarterly common stock cash dividend of US$0.78 per share will be paid on 1 December 2014 to shareholders of record on 20 November 2014. www.cummins.com • ITT Corp has announced a fourthquarter cash dividend of US$0.11 per share on the company’s outstanding stock. This cash dividend will be paid on 31 December 2014, to shareholders of record on 12 December 2014. www.itt.com • Xylem Inc’s fourth quarter US$0.1280 per share dividend will be paid on 3 December 2014 to shareholders of record on 29 October 2014. www.xyleminc.com
Filtration Industry Analyst
5