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ESCO electronics sees Q1 earnings rise
Filtration
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Industry Analyst
Pall Corp has closed a US$3 million investment in VI Technologies Inc. The trigger to the closing was the enrollment of the first patient in the Phase I red blood cell clinical trial of a novel bacterial and viral inactivation technology. Pall and Vitex are partners in the development of the new technology and Pall has exclusive global rights to market the resulting technology. Trigen-Cinergy Solutions (TCS) has expanded its utilities services with Equistar Chemicals in Tuscola, Illinois, USA, to include water and wastewater treatment services. The 20 year agreement includes the sale of the existing water treatment plant to Trigen-Cinergy Solutions. The project also includes the installation of a reverse osmosis treatment system to produce high quality water for the boilers and other critical systems at reduced costs. The Viet Thang Textile Co, Vicotex, Vietnam, has inaugurated a US$2.5 million wastewater treatment facility. The company’s general director Le Quang Thu says it is the first such facility developed by a state-owned company under the Ministry of Industry. The water is treated through a step-bystep process of screening, balancing, chemical conditioning, dissolving air flotation, aerobic biological treatactivated carbon ment, filtration, and effluent buffer. Nonwovens manufacturer Isolyser Co In& board of directors has authorised the repurchase of up to 5% of the company’s currently outstanding common stock in open market or private transactions over the next year beginning after the company’s announcement of yearend operating results.
January 2000
DESALINATION SYSTEM GETS FUNDING Spectrum-Arabieh Inc, Bakersfield, California, USA, has received US$SOO 000 in investment funding from BKR Partners, Dallas, Texas. The money is to be used for commercial production and continued sales efforts of its laser-based desalination system. The company’s PIMA (photonic ionization, manipulation and augmentation) desalination technology reportedly uses lasers to process fresh water from the ocean without addition of heat, highpressure, or toxic chemicals. Spectrum-Arabieh claims that its technology produces fresh water at a fraction of the cost associated with reverse osmosis. It says that scientists at the Saudi Arabian Desalination Research Institute verified the effectiveness of the technology.
ISRAEL TO BENEFIT FROM DESALINATION TECHNOLOGY Tokito Ltd, Tel Aviv, Israel, has been made sales agents for Spectrum-Arabieh Inc’s PIMA desalination technology, and will present the company’s clean water solution to government agencies, investment groups, private parties and companies within the state of Israel. This import/export trade group will seek out viable contracts, joint ventures and any other appropriate arrangements that will assist the rapid commercialisation of Spectrum’s water treatment technology. Anticipating significant upward movement of Spectrum’s stock price, Tokito Ltd. secured an option to purchase Spectrum stock over a 24 month period. The floor price of the option is 80% over the
closing price on 2 December 1999, equaling US$O.468 per share. Following Ceco Environmental Carp’s acquisition of Kirk & Blum Manufacturing Co and KBD Technic Inc, Rick Blum, president of Kirk & Blum, will assume the position of president of the renamed company CECO Group. William Cook has been named chief executive offtcer of Severn Trent Services Inc, a provider of water purification products. Cook will also serve on the Severn Trent Services’ board of directors and will be responsible for establishing and implementing strategies for the Sevem Trent Services businesses worldwide. = Arvin Industries has announced that William Daniel has been promoted to president of Arvin Replacement Products Business Group which NW, includes the company’s Purolator filters product range. In this capacity he will be responsible for ARP business activities worldwide and will report to Arvin Industries’ chairman William Hunt. This appointment follows Leon Viars retirement as president of ARP. Viars will continue to assist Arvin in a consulting capacity over the next two years as he adjusts to his retirement. Pentair Inc has elected Randall Hogan (44) as president and chief operating officer. Winslow Buxton (60) remains chairman and chief executive officer. In his new role, Hogan will reinforce efforts to boost levels of internal growth. including integration of the company’s two recent acquisitions and e-business activities. Hogan will also assume executive responsibility for all three of Pentair’s operating segments. l
VIVENDI FORMS STOCK OPTION PLAN Vivendi’s hoard of directors has set up a stock option plan that will benefit all permanent employees of the Vivendi Group’s environmental services and communications divisions worldwide. Around 250 000 employees will receive ten stock options. The plan represents about 0.4% of Vivendi’s capital stock and will make use of the remaining authorisations already granted by the 1998 shareholders’ meeting.
ESCO ELECTRONICS SEES Ql EARNINGS RISE Filtration and fluid flow equipment manufacturer ESCO Electronics Corp expects fiscal 2000 first quarter earnings of US$O.16-0.18 per share. The company had earlier announced that ongoing repositioning activities would have an adverse impact on its first half earnings. However, it says that it sees little change in the repositioning costs, but some improvement in the ongoing operating costs resulting from the repositioning actions. ESCO also said that operating profits for the first two months of fiscal 2000 are ahead of plan. The company expects earnings for fiscal 2000 in the range of US$O.85 to US$l per share, and sales in the range of US$255-270 million. Earnings are expected to accelerate throughout the coming year as a result of higher sales of disposable water filter cartridges and leukoreduction blood fill ters in its filtration/fluid flow business.
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Industry Analyst
Pall Corp has closed a US$3 million investment in VI Technologies Inc. The trigger to the closing was the enrollment of the first patient in the Phase I red blood cell clinical trial of a novel bacterial and viral inactivation technology. Pall and Vitex are partners in the development of the new technology and Pall has exclusive global rights to market the resulting technology. Trigen-Cinergy Solutions (TCS) has expanded its utilities services with Equistar Chemicals in Tuscola, Illinois, USA, to include water and wastewater treatment services. The 20 year agreement includes the sale of the existing water treatment plant to Trigen-Cinergy Solutions. The project also includes the installation of a reverse osmosis treatment system to produce high quality water for the boilers and other critical systems at reduced costs. The Viet Thang Textile Co, Vicotex, Vietnam, has inaugurated a US$2.5 million wastewater treatment facility. The company’s general director Le Quang Thu says it is the first such facility developed by a state-owned company under the Ministry of Industry. The water is treated through a step-bystep process of screening, balancing, chemical conditioning, dissolving air flotation, aerobic biological treatactivated carbon ment, filtration, and effluent buffer. Nonwovens manufacturer Isolyser Co In& board of directors has authorised the repurchase of up to 5% of the company’s currently outstanding common stock in open market or private transactions over the next year beginning after the company’s announcement of yearend operating results.
January 2000
DESALINATION SYSTEM GETS FUNDING Spectrum-Arabieh Inc, Bakersfield, California, USA, has received US$SOO 000 in investment funding from BKR Partners, Dallas, Texas. The money is to be used for commercial production and continued sales efforts of its laser-based desalination system. The company’s PIMA (photonic ionization, manipulation and augmentation) desalination technology reportedly uses lasers to process fresh water from the ocean without addition of heat, highpressure, or toxic chemicals. Spectrum-Arabieh claims that its technology produces fresh water at a fraction of the cost associated with reverse osmosis. It says that scientists at the Saudi Arabian Desalination Research Institute verified the effectiveness of the technology.
ISRAEL TO BENEFIT FROM DESALINATION TECHNOLOGY Tokito Ltd, Tel Aviv, Israel, has been made sales agents for Spectrum-Arabieh Inc’s PIMA desalination technology, and will present the company’s clean water solution to government agencies, investment groups, private parties and companies within the state of Israel. This import/export trade group will seek out viable contracts, joint ventures and any other appropriate arrangements that will assist the rapid commercialisation of Spectrum’s water treatment technology. Anticipating significant upward movement of Spectrum’s stock price, Tokito Ltd. secured an option to purchase Spectrum stock over a 24 month period. The floor price of the option is 80% over the
closing price on 2 December 1999, equaling US$O.468 per share. Following Ceco Environmental Carp’s acquisition of Kirk & Blum Manufacturing Co and KBD Technic Inc, Rick Blum, president of Kirk & Blum, will assume the position of president of the renamed company CECO Group. William Cook has been named chief executive offtcer of Severn Trent Services Inc, a provider of water purification products. Cook will also serve on the Severn Trent Services’ board of directors and will be responsible for establishing and implementing strategies for the Sevem Trent Services businesses worldwide. = Arvin Industries has announced that William Daniel has been promoted to president of Arvin Replacement Products Business Group which NW, includes the company’s Purolator filters product range. In this capacity he will be responsible for ARP business activities worldwide and will report to Arvin Industries’ chairman William Hunt. This appointment follows Leon Viars retirement as president of ARP. Viars will continue to assist Arvin in a consulting capacity over the next two years as he adjusts to his retirement. Pentair Inc has elected Randall Hogan (44) as president and chief operating officer. Winslow Buxton (60) remains chairman and chief executive officer. In his new role, Hogan will reinforce efforts to boost levels of internal growth. including integration of the company’s two recent acquisitions and e-business activities. Hogan will also assume executive responsibility for all three of Pentair’s operating segments. l
VIVENDI FORMS STOCK OPTION PLAN Vivendi’s hoard of directors has set up a stock option plan that will benefit all permanent employees of the Vivendi Group’s environmental services and communications divisions worldwide. Around 250 000 employees will receive ten stock options. The plan represents about 0.4% of Vivendi’s capital stock and will make use of the remaining authorisations already granted by the 1998 shareholders’ meeting.
ESCO ELECTRONICS SEES Ql EARNINGS RISE Filtration and fluid flow equipment manufacturer ESCO Electronics Corp expects fiscal 2000 first quarter earnings of US$O.16-0.18 per share. The company had earlier announced that ongoing repositioning activities would have an adverse impact on its first half earnings. However, it says that it sees little change in the repositioning costs, but some improvement in the ongoing operating costs resulting from the repositioning actions. ESCO also said that operating profits for the first two months of fiscal 2000 are ahead of plan. The company expects earnings for fiscal 2000 in the range of US$O.85 to US$l per share, and sales in the range of US$255-270 million. Earnings are expected to accelerate throughout the coming year as a result of higher sales of disposable water filter cartridges and leukoreduction blood fill ters in its filtration/fluid flow business.
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