- Email: [email protected]
Framatome ANP opens pump, motor service centre
IN BRIEF/DIVIDENDS/NEWS
Pump Industry Analyst
October 2004
IN BRIEF
DIVIDENDS
• New Zealand’s Skellmax Industries Ltd is planning to relocate most of its pump production to China. The company is currently in discussions with the Engineers Union and the staff employed by Flomax International Ltd about a proposed relocation of the major part of the Flomax pump manufacturing facility, which is currently located in Mt Wellington, Auckland, to China. Eighteen of the 43 staff currently employed at the Mt Wellington site would be affected by these changes. Flomax International markets rotary vane vacuum pumps under the Masport brand. • The Elliott Co and Wood Group Heavy Industrial Turbines Division (WGHIT), part of the John Wood Group plc, are forming an alliance to deliver enhanced services for rotating equipment operators in the USA. The goal of the alliance will be to combine the established network of experienced rotating equipment repair facilities of both Elliott and WGHIT, and WGHIT’s strong field service presence throughout the US, and to provide outstanding service excellence to the companies’ combined customer base. • In order to better service and support its customers in China, ViscoTec has linked up with Euro-Me (www.euro-me.com) based in Shenzhen, Dalian and Xi’an. Euro-Me acts as a representative for a number of European and American manufacturers of capital equipment. Forty five technical Euro-me employees offer service and consulting for all ViscoTec products, including dosing pumps.
• Scotland’s Weir Group plc will pay an interim dividend of £0.0345 (2003: £0.0335) on 12 November 2004 to shareholders on the company’s register at the close of business on 15 October 2004. This is a 3% increase on last year’s interim dividend payment. • Idex Corp’s regular quarterly cash dividend of US$0.12 per common share represents the company’s 40th consecutive regular quarterly cash dividend payment. The dividend will be paid on 29 October 2004, to shareholders of record as of 15 October 2004. • The Graco Inc board of directors has declared a regular quarterly dividend of US$0.0933 per common share which is payable on 3 November 2004, to shareholders of record at the close of business on 18 October 2004. Graco has approximately 69.1 million shares outstanding. • The Curtiss-Wright Corp board of directors has declared a dividend of US$0.09 per share on common stock and Class B common stock, payable on 27 October 2004 to stockholders of record as of 13 October 2004. • Spirax-Sarco directors have declared an interim dividend of £0.063 (2003: £0.06) per ordinary share, an increase of 5%, which will be paid on 12 November 2004 to shareholders on the register at the close of business on 15 October 2004. • South Africa’s Howden Africa Holdings Ltd - parent company of Denorco paid an interim dividend of R0.04 per share on 27 September 2004. The record date was 23 September 2004.
12
FRAMATOME ANP OPENS PUMP, MOTOR SERVICE CENTRE Framatome ANP, a joint subsidiary between AREVA and Siemens, has opened a 70 000 sq ft pump and motor service centre at its facility in Lynchburg, Virginia, USA. The US$12 million service centre is part of Framatome ANP’s overall US$32 million expansion plan announced last year. The service centre will inspect, repair and refurbish nuclear power plant primary and auxiliary pumps, motors and seals. The new facility will help Framatome ANP meet a growing demand for pump and motor services within the nuclear power industry, where utilities are upgrading ageing plant equipment to increase efficiency, improve reliability, and extend the operating life of their plants. Framatome ANP has manufactured more than 200 reactor coolant pumps and motors worldwide and completed more than 50 pump and motor projects in the USA. In France, the company’s Somanu facility can service more than 20 reactor coolant pump hydraulic systems and motors annually.
LAYNE CHRISTENSEN BUYS BEYLIK ASSETS Layne Christensen Co has acquired almost all of the drilling and pump repair assets of Beylik Drilling and Pump Service Inc in a US$14.5 million deal. According to Layne Chistensen, Beylik’s facilities in LaHabra and Barstow, California, together with Layne’s Fontana and Woodland, California offices, make it the second largest water well drilling company in the USA. Including Beylik, Layne
Christensen’s water resources division will have annual revenues of approximately US$200 million. Greg Aluce, president of Layne Christensen’s water resources division, described the purchase of Beylik as a very important strategic move for the division. “We have long considered Beylik, with its talented group of dedicated professionals, to be Layne’s most formidable competitor in the deep production well drilling business and are extremely excited about the opportunities of this combination.” The California market provides over one-third of Layne Christensen’s water division earnings and is one of the largest water markets in the world.
HI LAUNCHES EDUCATIONAL INITIATIVE The Hydraulic Institute (HI) has approved a national pump systems educational initiative called Pump Systems Matter. The program will focus on pump systems education and outreach, addressing energy savings and total cost of pump ownership. The primary goal of the education initiative will be to transform the market for pump systems and services from equipment first costs to one based on system life cycle costs.
PENTAIR CLOSES TOOLS GROUP SALE Pentair Inc has completed the sale of its Tools Group to The Black & Decker Corp for approximately US$775 million. The sale proceeds have been used to pay down the US$850 million bridge loan associated with Pentair’s acquisition of Wicor Industries earlier this year. The Tools Group sale completes the
Pump Industry Analyst
October 2004
IN BRIEF
DIVIDENDS
• New Zealand’s Skellmax Industries Ltd is planning to relocate most of its pump production to China. The company is currently in discussions with the Engineers Union and the staff employed by Flomax International Ltd about a proposed relocation of the major part of the Flomax pump manufacturing facility, which is currently located in Mt Wellington, Auckland, to China. Eighteen of the 43 staff currently employed at the Mt Wellington site would be affected by these changes. Flomax International markets rotary vane vacuum pumps under the Masport brand. • The Elliott Co and Wood Group Heavy Industrial Turbines Division (WGHIT), part of the John Wood Group plc, are forming an alliance to deliver enhanced services for rotating equipment operators in the USA. The goal of the alliance will be to combine the established network of experienced rotating equipment repair facilities of both Elliott and WGHIT, and WGHIT’s strong field service presence throughout the US, and to provide outstanding service excellence to the companies’ combined customer base. • In order to better service and support its customers in China, ViscoTec has linked up with Euro-Me (www.euro-me.com) based in Shenzhen, Dalian and Xi’an. Euro-Me acts as a representative for a number of European and American manufacturers of capital equipment. Forty five technical Euro-me employees offer service and consulting for all ViscoTec products, including dosing pumps.
• Scotland’s Weir Group plc will pay an interim dividend of £0.0345 (2003: £0.0335) on 12 November 2004 to shareholders on the company’s register at the close of business on 15 October 2004. This is a 3% increase on last year’s interim dividend payment. • Idex Corp’s regular quarterly cash dividend of US$0.12 per common share represents the company’s 40th consecutive regular quarterly cash dividend payment. The dividend will be paid on 29 October 2004, to shareholders of record as of 15 October 2004. • The Graco Inc board of directors has declared a regular quarterly dividend of US$0.0933 per common share which is payable on 3 November 2004, to shareholders of record at the close of business on 18 October 2004. Graco has approximately 69.1 million shares outstanding. • The Curtiss-Wright Corp board of directors has declared a dividend of US$0.09 per share on common stock and Class B common stock, payable on 27 October 2004 to stockholders of record as of 13 October 2004. • Spirax-Sarco directors have declared an interim dividend of £0.063 (2003: £0.06) per ordinary share, an increase of 5%, which will be paid on 12 November 2004 to shareholders on the register at the close of business on 15 October 2004. • South Africa’s Howden Africa Holdings Ltd - parent company of Denorco paid an interim dividend of R0.04 per share on 27 September 2004. The record date was 23 September 2004.
12
FRAMATOME ANP OPENS PUMP, MOTOR SERVICE CENTRE Framatome ANP, a joint subsidiary between AREVA and Siemens, has opened a 70 000 sq ft pump and motor service centre at its facility in Lynchburg, Virginia, USA. The US$12 million service centre is part of Framatome ANP’s overall US$32 million expansion plan announced last year. The service centre will inspect, repair and refurbish nuclear power plant primary and auxiliary pumps, motors and seals. The new facility will help Framatome ANP meet a growing demand for pump and motor services within the nuclear power industry, where utilities are upgrading ageing plant equipment to increase efficiency, improve reliability, and extend the operating life of their plants. Framatome ANP has manufactured more than 200 reactor coolant pumps and motors worldwide and completed more than 50 pump and motor projects in the USA. In France, the company’s Somanu facility can service more than 20 reactor coolant pump hydraulic systems and motors annually.
LAYNE CHRISTENSEN BUYS BEYLIK ASSETS Layne Christensen Co has acquired almost all of the drilling and pump repair assets of Beylik Drilling and Pump Service Inc in a US$14.5 million deal. According to Layne Chistensen, Beylik’s facilities in LaHabra and Barstow, California, together with Layne’s Fontana and Woodland, California offices, make it the second largest water well drilling company in the USA. Including Beylik, Layne
Christensen’s water resources division will have annual revenues of approximately US$200 million. Greg Aluce, president of Layne Christensen’s water resources division, described the purchase of Beylik as a very important strategic move for the division. “We have long considered Beylik, with its talented group of dedicated professionals, to be Layne’s most formidable competitor in the deep production well drilling business and are extremely excited about the opportunities of this combination.” The California market provides over one-third of Layne Christensen’s water division earnings and is one of the largest water markets in the world.
HI LAUNCHES EDUCATIONAL INITIATIVE The Hydraulic Institute (HI) has approved a national pump systems educational initiative called Pump Systems Matter. The program will focus on pump systems education and outreach, addressing energy savings and total cost of pump ownership. The primary goal of the education initiative will be to transform the market for pump systems and services from equipment first costs to one based on system life cycle costs.
PENTAIR CLOSES TOOLS GROUP SALE Pentair Inc has completed the sale of its Tools Group to The Black & Decker Corp for approximately US$775 million. The sale proceeds have been used to pay down the US$850 million bridge loan associated with Pentair’s acquisition of Wicor Industries earlier this year. The Tools Group sale completes the