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GE Capital invests in South Korea's Finetex EnE
NEWS/IN BRIEF to accelerate future growth. LG Electronics announced plans to enter the water treatment business earlier this year (see Filtration Industry Analyst, September 2010) and has recently launched its first wastewater treatment solution the Green Membrane Bioreactor (G-MBR) process (see New Product Developments, page 14). For further information, visit www.lg.com
GE Capital invests in South Korea’s Finetex EnE
G
E Capital is investing US$10 million in Finetex EnE Inc, a South Korea based manufacturer of electrospun nano fibers, through a private issue of Convertible Bonds. “We’re thrilled at the confidence expressed by GE in our vision to become a world-leading company in providing nano-structured material,” said JC Park, president and CEO of Finetex. Donald Cho, executive vice president and chief marketing officer of Finetex, said that nano fiber is the next generation of filtration technology in a variety of industries, such as energy, water, transportation and healthcare. “We look forward to working with GE to explore the many applications of this technology and accelerate the development of our business,” said Cho. For further information, visit www.gecapital.com and http://ftene.com
Mar Cor Purification teams up with Lyons Filter for beverage projects
M
ar Cor Purification has signed an agreement with Lyons Filter to jointly pursue projects in the beverage market. The agreement will combine the strengths of both companies to supply custom turnkey water systems to beverage customers in North America for both purified water and carbonated soft drink production. “This agreement is an ideal combination of experience and capabilities that will benefit the beverage industry with turnkey solu-
December 2010
tions. Through our experience with purified bottled water installations, we have clearly seen that the beverage market place is moving toward membrane based technologies that are designed to produce consistent high quality water while minimizing the use of water,” said Ben Roczniak, vice president of Sales for Mar Cor Life Science. “We’re excited about this agreement with Mar Cor and the opportunity to jointly offer our clients the latest in water treatment technology,” said D John Baumhover, executive manager of Lyons Filter. Plymouth, Minnesota-headquartered Mar Cor supplies membrane based water treatment systems for the Life Science and High Purity market with sales and service offices in 22 cities in the US & Canada. Established in 1998 and based in Frederick, Colorado, Lyons Filter supplies and services conventional water treatment systems for North American beverage customers. For further information, visit www.mcpur.com, www.cantelmedical.com and www.lyonsfilter.com
ProSep partners with South Korea’s Kolon
P
roSep Inc is entering into a joint venture agreement with the Kolon Group, a large South-Korea-based integrated construction, chemical and advanced materials company and Korea’s largest water treatment group. ProSep Kolon Co Ltd will manufacture and commercialise ProSep’s process solutions for the growing Korean and Chinese oil and gas supply industries. “Because of its growing reputation for highly competitive engineering and fabrication knowhow, Korea has become one of the world’s leading engineering, procurement and construction markets serving the global oil and gas industry. By joining hands with one of the country’s most recognised industrial groups and creating Korea’s first technology-focused process equipment provider, we expect to quickly penetrate this promising market,” said Jacques Drouin, ProSep president and CEO. ProSep will use the net proceeds from a private placement with Kolon Glotech Inc, a wholly-owned subsidiary of Kolon Group Inc, to fund the acquisition of a 51% interest in ProSep Kolon. UÊ i>Ü i]Ê*À-i«Ê >ÃÊiÌiÀi`ÊÌÊ>Ê collaboration agreement with Bandariyah
In Brief UÊ iV>Ê`ÃÌÀLÕÌÀÊ1Û>ÀÊ >ÃÊÃ}i`Ê an agreement with GE Water & Process Technologies to become the company’s official distributor of their water treatment products, starting initially in Italy and Southern Europe and extending throughout Europe. Univar will be distributing products across five categories: boiler treatment, membrane separation, odour control, dust control and closed loop internal treatment. The private equity investment firm Clayton, Dubilier & Rice recently acquired a 42.5% ownership interest in Univar. www.univar.com and www.ge.com UÊ Ê >]ÊFlottweg Shanghai recently celebrated its 10th anniversary with a visit by members of the Flottweg AG supervisory board and the board of managers. www.flottweg.de UÊ GEA Process Engineering China Ltd has expanded its workshop in Shijiazhuang, northern China by another 2000 sq m to 6800 sq m. GEA Process Engineering China produces a range of equipment including evaporators, bag filters, chambers, vessels, IBC tanks, fluid bed dryers and blenders. www.niro.com UÊ 3M, parent company of Cuno Inc, is anticipating sales of US$29 billion–US$30.5 billion, with organic sales volumes growing 5.5–7.5%, currency effects adding 1–2% and acquisitions adding 4–6% to sales for the year. 3M also expects that 2011 earnings will be between US$5.90– US$6.10 per share, which includes a US$0.27 per share year-on-year increase in pension expense. The company continues to expect 2010 earnings per share to be in the range of US$5.59–US$5.63 per share. Speaking at a recent institutional investor and analyst meeting in New York, 3M chairman, president and CEO George Buckley said that the company’s continuing strong performance clearly demonstrates that its growth strategy is working. “Developing markets currently represent one-third of 3M sales and will likely reach 45% by 2015,” Buckley added. www.3m.com
Filtration Industry Analyst
5
GE Capital invests in South Korea’s Finetex EnE
G
E Capital is investing US$10 million in Finetex EnE Inc, a South Korea based manufacturer of electrospun nano fibers, through a private issue of Convertible Bonds. “We’re thrilled at the confidence expressed by GE in our vision to become a world-leading company in providing nano-structured material,” said JC Park, president and CEO of Finetex. Donald Cho, executive vice president and chief marketing officer of Finetex, said that nano fiber is the next generation of filtration technology in a variety of industries, such as energy, water, transportation and healthcare. “We look forward to working with GE to explore the many applications of this technology and accelerate the development of our business,” said Cho. For further information, visit www.gecapital.com and http://ftene.com
Mar Cor Purification teams up with Lyons Filter for beverage projects
M
ar Cor Purification has signed an agreement with Lyons Filter to jointly pursue projects in the beverage market. The agreement will combine the strengths of both companies to supply custom turnkey water systems to beverage customers in North America for both purified water and carbonated soft drink production. “This agreement is an ideal combination of experience and capabilities that will benefit the beverage industry with turnkey solu-
December 2010
tions. Through our experience with purified bottled water installations, we have clearly seen that the beverage market place is moving toward membrane based technologies that are designed to produce consistent high quality water while minimizing the use of water,” said Ben Roczniak, vice president of Sales for Mar Cor Life Science. “We’re excited about this agreement with Mar Cor and the opportunity to jointly offer our clients the latest in water treatment technology,” said D John Baumhover, executive manager of Lyons Filter. Plymouth, Minnesota-headquartered Mar Cor supplies membrane based water treatment systems for the Life Science and High Purity market with sales and service offices in 22 cities in the US & Canada. Established in 1998 and based in Frederick, Colorado, Lyons Filter supplies and services conventional water treatment systems for North American beverage customers. For further information, visit www.mcpur.com, www.cantelmedical.com and www.lyonsfilter.com
ProSep partners with South Korea’s Kolon
P
roSep Inc is entering into a joint venture agreement with the Kolon Group, a large South-Korea-based integrated construction, chemical and advanced materials company and Korea’s largest water treatment group. ProSep Kolon Co Ltd will manufacture and commercialise ProSep’s process solutions for the growing Korean and Chinese oil and gas supply industries. “Because of its growing reputation for highly competitive engineering and fabrication knowhow, Korea has become one of the world’s leading engineering, procurement and construction markets serving the global oil and gas industry. By joining hands with one of the country’s most recognised industrial groups and creating Korea’s first technology-focused process equipment provider, we expect to quickly penetrate this promising market,” said Jacques Drouin, ProSep president and CEO. ProSep will use the net proceeds from a private placement with Kolon Glotech Inc, a wholly-owned subsidiary of Kolon Group Inc, to fund the acquisition of a 51% interest in ProSep Kolon. UÊ i>Ü i]Ê*À-i«Ê >ÃÊiÌiÀi`ÊÌÊ>Ê collaboration agreement with Bandariyah
In Brief UÊ iV>Ê`ÃÌÀLÕÌÀÊ1Û>ÀÊ >ÃÊÃ}i`Ê an agreement with GE Water & Process Technologies to become the company’s official distributor of their water treatment products, starting initially in Italy and Southern Europe and extending throughout Europe. Univar will be distributing products across five categories: boiler treatment, membrane separation, odour control, dust control and closed loop internal treatment. The private equity investment firm Clayton, Dubilier & Rice recently acquired a 42.5% ownership interest in Univar. www.univar.com and www.ge.com UÊ Ê >]ÊFlottweg Shanghai recently celebrated its 10th anniversary with a visit by members of the Flottweg AG supervisory board and the board of managers. www.flottweg.de UÊ GEA Process Engineering China Ltd has expanded its workshop in Shijiazhuang, northern China by another 2000 sq m to 6800 sq m. GEA Process Engineering China produces a range of equipment including evaporators, bag filters, chambers, vessels, IBC tanks, fluid bed dryers and blenders. www.niro.com UÊ 3M, parent company of Cuno Inc, is anticipating sales of US$29 billion–US$30.5 billion, with organic sales volumes growing 5.5–7.5%, currency effects adding 1–2% and acquisitions adding 4–6% to sales for the year. 3M also expects that 2011 earnings will be between US$5.90– US$6.10 per share, which includes a US$0.27 per share year-on-year increase in pension expense. The company continues to expect 2010 earnings per share to be in the range of US$5.59–US$5.63 per share. Speaking at a recent institutional investor and analyst meeting in New York, 3M chairman, president and CEO George Buckley said that the company’s continuing strong performance clearly demonstrates that its growth strategy is working. “Developing markets currently represent one-third of 3M sales and will likely reach 45% by 2015,” Buckley added. www.3m.com
Filtration Industry Analyst
5