- Email: [email protected]
Emissions cuts agreed at Kyoto conference
News product ranges of Lips and John Crane Marine are complementary and TI hopes it can now will move towards a world leader position in integrated marine propulsion systems. Contact: TI Group, Lambourn Court, Abingdon. Oxon, OX14 lUH, UK. Tel: +44 1235 555570; Fax: +44 1235 555818.
Carbone Lorraine Seals to be sold Coltec Industries says it has entered the last stage of discussions to acquire the Sealing Division of Groupe Carbone Lorraine. The division, with facilities in Saint Etienne and Montbrison, in France, and Columbia, South Carolina in the US, will have 1997 sales of approximately $38 million. It produces high-technology metallic gaskets used in the nuclear, petroleum and chemical industries. Coltec, which also owns Garlock Sealing Technology, says the acquisition provides it with an entry into the French sealing marketplace. In addition, it expands Coltec’s manufacturing presence in Europe, increases its sealing expertise in the nuclear power industry and complements its high-technology metal sealing business in North America. The deal is expected to close early in the first quarter of 1998. Contact: Coltec Industries, 3 Coliseum Centre, 2550 West Tyvola Road, Charlotte, North Carolina 28217, USA. Tel: +l 704 423 7000.
Federal-Mogul buy Fe&Pro
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Auto parts maker Federal-Mogul is to buy the gasket company Fel-Pro for $720 million. The acquisition price includes $495 million in cash and US$225 million in stock and is expected to expand FederalMogul’s sales a further 10%. to approximately USS5.5 billion annually. The deal means Federal-Mogul is a step closer to being able to offer complete valve train and engine sealing systems, which could pass savings on to automakers. Job losses are expected, as the three companies’ combined 40 000 workforce may be cut by 2000. This is the second acquisition Federal-Mogul has announced since it stated its intent to focus on its core engine and sealing systems businesses. Recently it began proceedings to acquire the British T&N engineering group.
Emissions cuts agreed at Kyoto conference Following stormy negotiations. delegates at the United Nations global warming conference in Kyoto, Japan, agreed an average cut of 5% in greenhouse gas emissions. If ratified, the treaty would tie most developed countries to cutting greenhouse emissions early in the next century, in most cases by 8% from 1990 levels. However, the inclusion of economic and social factors in determining each country’s commitment has resulted in a large variation in the targeted reduction. German industry is committed to a voluntary cut in carbon dioxide emissions of 25% by 2005, America has until 2012 to reduce emissions by 7% below 1990 levels and Australia is one of three countries allowed to increase green‘house gas emissions. Reaction to the treaty was mixed, with many countries fearing the targets will threai.en economic growth.
Gencorp set for growth in vehicle sealing Gencorp has announced that its 1997 full year and fourth quarter figures for continuing businesses have substantially improved over 1996. Automotive segment sales were $100.8 million in the 1997 fourth quarter, against $108 million in the same 1996 quarter. The company reports that vehicle sealing sales increased in North America but declined in Europe. Earnings for automotive operations, however, were USS8.9 million, versus US$8 million in the 1996 quarter, an 11% increase. Operating profit margins also improved to %8.8%against 7.4% during the same period in 1996. Operational excellence initiatives, including Six Sigma, and aggressive actions to reduce costs and boost productivity contributed to the improvements. The Vehicle Sealing business entered 1998 with 13 new launches in its North American and European operations, which strongly positions the business for growth into the next century. Contact: Gencorp, 7221 Engle Road, Suite 240 , Fort Wayne, Indiana 46804. USA. Tel: +1 219 434 9700; Fax: + 1 219 434 9750.
Contact: Federal-Mogul, 26555 Northwestern Highway, Southfield, Michigan 48034, USA. Tel: +l 810 354 1916; Fax: +l 810 354 8103.
Sealing Technology
No. 49
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Carbone Lorraine Seals to be sold Coltec Industries says it has entered the last stage of discussions to acquire the Sealing Division of Groupe Carbone Lorraine. The division, with facilities in Saint Etienne and Montbrison, in France, and Columbia, South Carolina in the US, will have 1997 sales of approximately $38 million. It produces high-technology metallic gaskets used in the nuclear, petroleum and chemical industries. Coltec, which also owns Garlock Sealing Technology, says the acquisition provides it with an entry into the French sealing marketplace. In addition, it expands Coltec’s manufacturing presence in Europe, increases its sealing expertise in the nuclear power industry and complements its high-technology metal sealing business in North America. The deal is expected to close early in the first quarter of 1998. Contact: Coltec Industries, 3 Coliseum Centre, 2550 West Tyvola Road, Charlotte, North Carolina 28217, USA. Tel: +l 704 423 7000.
Federal-Mogul buy Fe&Pro
to
Auto parts maker Federal-Mogul is to buy the gasket company Fel-Pro for $720 million. The acquisition price includes $495 million in cash and US$225 million in stock and is expected to expand FederalMogul’s sales a further 10%. to approximately USS5.5 billion annually. The deal means Federal-Mogul is a step closer to being able to offer complete valve train and engine sealing systems, which could pass savings on to automakers. Job losses are expected, as the three companies’ combined 40 000 workforce may be cut by 2000. This is the second acquisition Federal-Mogul has announced since it stated its intent to focus on its core engine and sealing systems businesses. Recently it began proceedings to acquire the British T&N engineering group.
Emissions cuts agreed at Kyoto conference Following stormy negotiations. delegates at the United Nations global warming conference in Kyoto, Japan, agreed an average cut of 5% in greenhouse gas emissions. If ratified, the treaty would tie most developed countries to cutting greenhouse emissions early in the next century, in most cases by 8% from 1990 levels. However, the inclusion of economic and social factors in determining each country’s commitment has resulted in a large variation in the targeted reduction. German industry is committed to a voluntary cut in carbon dioxide emissions of 25% by 2005, America has until 2012 to reduce emissions by 7% below 1990 levels and Australia is one of three countries allowed to increase green‘house gas emissions. Reaction to the treaty was mixed, with many countries fearing the targets will threai.en economic growth.
Gencorp set for growth in vehicle sealing Gencorp has announced that its 1997 full year and fourth quarter figures for continuing businesses have substantially improved over 1996. Automotive segment sales were $100.8 million in the 1997 fourth quarter, against $108 million in the same 1996 quarter. The company reports that vehicle sealing sales increased in North America but declined in Europe. Earnings for automotive operations, however, were USS8.9 million, versus US$8 million in the 1996 quarter, an 11% increase. Operating profit margins also improved to %8.8%against 7.4% during the same period in 1996. Operational excellence initiatives, including Six Sigma, and aggressive actions to reduce costs and boost productivity contributed to the improvements. The Vehicle Sealing business entered 1998 with 13 new launches in its North American and European operations, which strongly positions the business for growth into the next century. Contact: Gencorp, 7221 Engle Road, Suite 240 , Fort Wayne, Indiana 46804. USA. Tel: +1 219 434 9700; Fax: + 1 219 434 9750.
Contact: Federal-Mogul, 26555 Northwestern Highway, Southfield, Michigan 48034, USA. Tel: +l 810 354 1916; Fax: +l 810 354 8103.
Sealing Technology
No. 49
3