pumpindustry ANALYST
ISSN 1359-6128 October 2013
www.pumpindustryanalyst.com
ITT invests US$34mn in new South Korean plant to produce and test Goulds pumps
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TT Corp has inaugurated a new manufacturing facility in Chungcheongbuk-do county in South Korea that will produce, package and test highly engineered pumps under the Goulds Pumps brand. Located in the Oksan Industrial Complex, the US$34 million factory is three times larger than the original ITT pump manufacturing plant in Cheong-won and has a stateof-the-art test facility for both vertical and horizontal pumps. Serving as ITT’s Eastern Hemisphere Energy Centre of Excellence, the new South Korean facility will enable the company to better serve customers in Asia Pacific, Europe, the Middle East and Africa by manufacturing a wide range of horizontal and vertical engineered centrifugal pumps to both API and ANSI industry standards. “This official opening is a major milestone for ITT and our Industrial Process business and reflects our ongoing commitment to being a leader in the global oil and gas industry,” said Denise Ramos, ITT’s CEO and president.
“Twenty-three years ago, we built our first chemical process pump in Korea under the Goulds Pumps brand in our Cheong-won factory. We have come a long way since then,” said Robert Pagano Jr, president of ITT’s Industrial Process business. The new facility has expanded ITT’s global capability to manufacture, test and package high energy pumps for critical applications in the oil and gas, mining, petrochemical and power industries.
Contents Company Profile Energy Recovery
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KSB 6
Company Watch Colfax 7 Flowserve 7 GLV 8 Gorman-Rupp 8 IDEX 9 Roper 9
Diary
15
Dividends
13
Exchange Rates
14
Financial Calendar
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COMMENT
In Brief
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With energy a key global end market for ITT, the US pump company has made a substantial investment in this new manufacturing facility, which will serve not only the growing South Korean market, but also customers around the world. n
New Product Developments
For further information, visit www.itt.com and www.gouldspumps.com
Market Prospects
2–4 14
News ITT invests US$34mn in new South Korean plant to produce and test Goulds pumps 1 Grundfos builds 4th Hungarian factory
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KETO Pumps makes Australian acquisition 12 Flux-Geräte adds new warehouse to Maulbronn site
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Grundfos builds 4th Hungarian factory
Xylem teams up with Mekorot’s WaTech
12
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Flowrox establishes Russian subsidiary
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Edwards shareholders approve acquisition 12 by Atlas Copco
rundfos has opened a new plant in Székesfehérvár, Hungary, that will manufacture products mainly for the water utility and wastewater markets. The new 30 000 sq m Grundfos facility in Székesfehérvár includes production, research and development and office space. It will also house the plant’s development & engineering function, a technology centre and state-ofthe-art test facilities. Grundfos now has four factories in Hungary: two in Székesfehérvár and two in Tatabánya. The Danish pump company established its first factory in Hungary in
2000 and today employs around 2150 people in the country. “The expansion in Hungary is an important step in our efforts to make Grundfos an even bigger player within large pump solutions. We gather a range of specific competencies within development and production of products and solutions for the project market. This will give Grundfos a better possibility of fulfilling the needs from the market, which will emerge in the future,” said Grundfos group executive vice president Lars Aagaard. For further information, visit www.grundfos.com
SPP Pumps partners with SKF Bearings
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Grundfos buys Italian water disinfection company 13 Sulzer Pumps acquires Finnish seal maker Tartek 16 DESMI expands in US
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Pentair opens Eastern European hub in Moscow
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Wilo USA launches Guaranteed Pump Shipment program
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Orders & Contracts
10
People & Appointments
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Stock Watch
15
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