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Emergency Filtration Products, Applied Nanoscience to merge
DIVIDENDS/NEWS
Dividends • The board of directors of diversified industrial manufacturer Eaton Corp has declared a second quarter dividend of US$0.43 per common share payable on 24 August 2007, to shareholders of record at the close of business on 6 August 2007. In January of this year, Eaton announced a quarterly dividend increase of 10% from US$0.39 to US$0.43 per share. Eaton has paid dividends on common shares every year since 1923. www.eaton.com • Kaydon Corp’s board of directors has declared a 25% increase in its regular quarterly dividend, to US$0.15 per share from US$0.12. The dividend is payable on 1 October 2007 to shareholders of record as of the close of business on 10 September 2007. The indicated annual dividend rate will now be US$0.60 per share for the upcoming year. The company expects to periodically re-evaluate the cash dividend in future periods and will consider its future earnings and cash flow, on-going capital needs and alternatives for shareholder returns when determining the actual amount of future dividends. www.kaydon.com • Donaldson Co Inc’s board of directors has increased the company’s quarterly common stock cash dividend by 11%, marking the 21st consecutive year of dividend increases. The board declared a regular cash dividend of US$0.10 per share, payable on 7 September 2007 to shareholders of record on 17 August 2007. As of 30 June 2007, there were approximately 78.9 million Donaldson shares outstanding. The current declaration is the 208th consecutive quarterly cash dividend paid by Donaldson over 52 years. www.donaldson.com • Pentair Inc’s regular quarterly cash dividend of US$0.15 per share was paid on 10 August 2007 to shareholders of record on 27 July 2007. www.pentair.com • 3M - parent company of Cuno Inc will pay a US$0.48 per share dividend for the third quarter of 2007, on 12 September 2007, to shareholders of record at the close of business on 24 August 2007. www.cuno.com 4
Filtration Industry Analyst
trial, commercial and residential applications. In 1970 the company made the first small, disposable, inline carbon filter. Agion Technologies, based in Wakefield, Massachusetts, provides customised, natural, antimicrobial solutions based on silver that continuously inhibit the growth of bacteria, mold and fungus. Agion’s antimicrobial technology is used in consumer, industrial and healthcare industries and has been incorporated into a variety of products including water filters. For further information visit www.omnipure.com and www.agion-tech.com
Emergency Filtration Products, Applied Nanoscience to merge
E
mergency Filtration Products Inc and Applied Nanoscience Inc have entered into a letter of intent to combine the two companies in an all stock transaction. EFP shareholders will receive 0.77 shares of Applied Nanoscience for every one share of EFP. As a result, EFP shareholders will own approximately 62% of the combined resulting company. EFP will name three members to the combined company’s board of directors and ANI will have two. EFP is a filtration technology company that has a micro-particle air filter designed for medical filtration, as well as related products suitable and adaptable to a variety of applications outside the medical products industry, including the Vapor Isolation Valve, Respaide, the Series One Breathing Circuit Filter and the NanoMask. ANI is the owner of NEFT (Nanoparticle - Enhanced - Filtration - Technology), which enables filtration media to not only filter bacteria and viruses from the air, but also act as a destructive adsorbent to destroy microorganisms that come in contact. The nanoparticle-enhanced media has been successfully tested by several BSL-3 laboratories, and ANI believes it can be customised to many specific applications which will initiate advancement and provide competitive advantage to companies in major consumer markets. EFP has a license to utilise ANI’s NEFT technology for military and environmental/personal protection mask applications. “The merger of these two companies will result in a number of advantages that can
produce superior value to the shareholders of both companies,” said Philip Dascher, EFP CEO. “Since the bulk of the intellectual property resides with Applied Nanoscience, it makes eminent sense to merge and have both a potentially imminent commercial product application of the technology - the NanoMask - plus the many possible applications to incorporate nanoparticle-enhanced filter media, which include emergency response, home air quality, and transportation (automotive, rail and air).” “Joining forces with Applied Nanoscience should produce a number of significant recurring cost savings by creating a single corporate entity whose product and intellectual property portfolio will make it easier to access capital markets. We expect this merger and the resulting benefits to enable us to build a significant business within a relatively short time,” added Dascher. “The proposed merger with Emergency Filtration Products will benefit our shareholders as it will allow us to more closely align with a company which will produce the first commercial validation of our technology,” said Thomas Allen, president/CEO of ANI. “Moreover, as we continue to grow our intellectual property and build the related technology, we will be in a position to use EFP’s resources to commercialise quickly and get our products to market sooner,” added Allen. “Perhaps most important, this merger will culminate in a company that can access the financial, technical and management resources necessary to build a highly successful enterprise.” For further information, visit www.emergencyfiltration. com
Toray to expand Romembra RO membrane capacity
T
oray Industries has started work on extending the production facilities for its Romembra reverse osmosis (RO) membrane elements at its Ehime plant in Japan and at Toray Membrane USA Inc’s (TMUS) facility in the suburbs of San Diego, California, USA. The company plans to install state-ofthe-art high-speed polyamide composite membrane production equipment and automated element rolling machines at the
August 2007
Dividends • The board of directors of diversified industrial manufacturer Eaton Corp has declared a second quarter dividend of US$0.43 per common share payable on 24 August 2007, to shareholders of record at the close of business on 6 August 2007. In January of this year, Eaton announced a quarterly dividend increase of 10% from US$0.39 to US$0.43 per share. Eaton has paid dividends on common shares every year since 1923. www.eaton.com • Kaydon Corp’s board of directors has declared a 25% increase in its regular quarterly dividend, to US$0.15 per share from US$0.12. The dividend is payable on 1 October 2007 to shareholders of record as of the close of business on 10 September 2007. The indicated annual dividend rate will now be US$0.60 per share for the upcoming year. The company expects to periodically re-evaluate the cash dividend in future periods and will consider its future earnings and cash flow, on-going capital needs and alternatives for shareholder returns when determining the actual amount of future dividends. www.kaydon.com • Donaldson Co Inc’s board of directors has increased the company’s quarterly common stock cash dividend by 11%, marking the 21st consecutive year of dividend increases. The board declared a regular cash dividend of US$0.10 per share, payable on 7 September 2007 to shareholders of record on 17 August 2007. As of 30 June 2007, there were approximately 78.9 million Donaldson shares outstanding. The current declaration is the 208th consecutive quarterly cash dividend paid by Donaldson over 52 years. www.donaldson.com • Pentair Inc’s regular quarterly cash dividend of US$0.15 per share was paid on 10 August 2007 to shareholders of record on 27 July 2007. www.pentair.com • 3M - parent company of Cuno Inc will pay a US$0.48 per share dividend for the third quarter of 2007, on 12 September 2007, to shareholders of record at the close of business on 24 August 2007. www.cuno.com 4
Filtration Industry Analyst
trial, commercial and residential applications. In 1970 the company made the first small, disposable, inline carbon filter. Agion Technologies, based in Wakefield, Massachusetts, provides customised, natural, antimicrobial solutions based on silver that continuously inhibit the growth of bacteria, mold and fungus. Agion’s antimicrobial technology is used in consumer, industrial and healthcare industries and has been incorporated into a variety of products including water filters. For further information visit www.omnipure.com and www.agion-tech.com
Emergency Filtration Products, Applied Nanoscience to merge
E
mergency Filtration Products Inc and Applied Nanoscience Inc have entered into a letter of intent to combine the two companies in an all stock transaction. EFP shareholders will receive 0.77 shares of Applied Nanoscience for every one share of EFP. As a result, EFP shareholders will own approximately 62% of the combined resulting company. EFP will name three members to the combined company’s board of directors and ANI will have two. EFP is a filtration technology company that has a micro-particle air filter designed for medical filtration, as well as related products suitable and adaptable to a variety of applications outside the medical products industry, including the Vapor Isolation Valve, Respaide, the Series One Breathing Circuit Filter and the NanoMask. ANI is the owner of NEFT (Nanoparticle - Enhanced - Filtration - Technology), which enables filtration media to not only filter bacteria and viruses from the air, but also act as a destructive adsorbent to destroy microorganisms that come in contact. The nanoparticle-enhanced media has been successfully tested by several BSL-3 laboratories, and ANI believes it can be customised to many specific applications which will initiate advancement and provide competitive advantage to companies in major consumer markets. EFP has a license to utilise ANI’s NEFT technology for military and environmental/personal protection mask applications. “The merger of these two companies will result in a number of advantages that can
produce superior value to the shareholders of both companies,” said Philip Dascher, EFP CEO. “Since the bulk of the intellectual property resides with Applied Nanoscience, it makes eminent sense to merge and have both a potentially imminent commercial product application of the technology - the NanoMask - plus the many possible applications to incorporate nanoparticle-enhanced filter media, which include emergency response, home air quality, and transportation (automotive, rail and air).” “Joining forces with Applied Nanoscience should produce a number of significant recurring cost savings by creating a single corporate entity whose product and intellectual property portfolio will make it easier to access capital markets. We expect this merger and the resulting benefits to enable us to build a significant business within a relatively short time,” added Dascher. “The proposed merger with Emergency Filtration Products will benefit our shareholders as it will allow us to more closely align with a company which will produce the first commercial validation of our technology,” said Thomas Allen, president/CEO of ANI. “Moreover, as we continue to grow our intellectual property and build the related technology, we will be in a position to use EFP’s resources to commercialise quickly and get our products to market sooner,” added Allen. “Perhaps most important, this merger will culminate in a company that can access the financial, technical and management resources necessary to build a highly successful enterprise.” For further information, visit www.emergencyfiltration. com
Toray to expand Romembra RO membrane capacity
T
oray Industries has started work on extending the production facilities for its Romembra reverse osmosis (RO) membrane elements at its Ehime plant in Japan and at Toray Membrane USA Inc’s (TMUS) facility in the suburbs of San Diego, California, USA. The company plans to install state-ofthe-art high-speed polyamide composite membrane production equipment and automated element rolling machines at the
August 2007