- Email: [email protected]
Grundfos partners with Novozymes for clean water
NEWS/DIVIDENDS innovative solutions enabled by cutting-edge technologies.” For further information, visit www.xyleminc.com and https://puretechltd.com/
Porvair: 2017 revenues up 6%
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orvair plc, the filtration and environmental technologies specialist, says that revenue growth was 6% for the year ended 30 November 2017 and that full year earnings are expected to be ahead of management’s expectations. In a trading update, Porvair said that group underlying revenue growth for the year was 11%, with 13% in the Microfiltration division and 1% in the Metals Filtration division. Net cash at 30 November 2017 was £9.7 million, down from 2016’s £13.6 million, after capital and acquisition expenditure of around £11 million. The company, which will announce its preliminary results for the year ended 30 November 2017 on 29 January 2018, says that group order books for the start of the 2018 financial year are healthy. Porvair will have a new management and reporting structure from 2018, with three new divisions, serving distinct markets: Aerospace & Industrial; Laboratory; and Molten Metals. The new Laboratory division, which will focus on filtration and sample preparation products, has recently acquired Rohasys BV, a Dutch robotic sample handling company.
For further information, visit www.porvair.co.uk and www.rohasys.com
Huber expands in India through JV
G
ermany’s Huber SE has signed a joint venture agreement with India’s ATE Group.
December 2017
Huber has a 30% minority interest in the new ATE Huber Envirotech Private Ltd joint venture company which will manufacture Huber products in India, through ATE’s plants in Vasai, Maharashtra, and serve the Indian and Bangladeshi markets. Georg Huber, CEO of Huber SE, said: “Through this partnership, Huber brings in its technologies in the fields of solid liquid separation, membrane filtration and sludge management with an installed base of 40 000 installations.” “As India is building its infrastructure and industry, we need new approaches and products for wastewater management,” said Anuj Bhagwati, head of ATE Group. “This joint venture will serve India and Bangladesh with products from Huber and cater to industrial wastewater treatment projects in major international markets, leveraging their network. We have had a partnership for five years and now the JV will strengthen our presence.” For further information, visit www.huber.de and www. ategroup.com
Grundfos partners with Novozymes for clean water
G
rundfos and the Danish biotechnology company Novozymes have entered into an open innovation collaboration to find new solutions to the world’s water challenges. The partnership takes place on HelloScience.io, an online platform launched by Novozymes in September 2017 where entrepreneurs, startups and others can connect with industry. Four specific challenges will be posted online, allowing the HelloScience community to pitch their ideas on how to secure clean water for more people. Novozymes and Grundfos are looking for solutions to remove polluting chemicals from water and improve the cleaning of
Dividends • Pentair plc’s board of directors has approved a 1% increase in the company’s regular cash dividend rate from US$0.345 per share to US$0.35 per share. The company will pay its next cash dividend of US$0.35 per share on 9 February 2018 to shareholders of record at the close of business on 26 January 2018. 2018 will mark the 42nd consecutive year that Pentair has increased its dividend. www.pentair.com • Graco Inc has declared a regular quarterly dividend of US$0.3975 per common share, an increase of 10.4%, payable on 7 February 2018, to shareholders of record on 22 January 2018. With the 3-for-1 split of the company’s common stock on 27 December 2017, the dividend will be US$0.1325 per post-split share (see In Brief, page 4). www.graco.com • Irrigation systems and infrastructure products provider Lindsay Corp will pay a regular quarterly cash dividend of US$0.30 per share on 28 February 2018, to shareholders of record on 14 February 2018. www.lindsay.com • Esco Technologies Inc’s next quarterly cash dividend of US$0.08 per share will be paid on 19 January 2018 to stockholders of record on 4 January 2018. www.escotechnologies.com • Filter media company Neenah Paper Inc has announced an 11% increase in the cash dividend on the company’s common stock. The quarterly dividend will increase from US$0.37 per share to US$0.41 (US$1.64 per share on an annual basis) with the first payment at the new rate beginning in the first quarter of 2018. Neenah Paper Inc is changing its corporate name to Neenah Inc effective 1 January 2018 (see News, page14). The company’s ticker symbol on the New York Stock Exchange will remain “NP” and the names of subsidiaries will not be affected. www.neenah.com
Filtration Industry Analyst
3
IN BRIEF/NEWS
In Brief • The College of Business at the University of Illinois at Urbana-Champaign will be known as the Gies College of Business after a US$150 million naming gift from alumnus Larry Gies and his wife Beth. Larry Gies is the founder, president and CEO of Madison Industries. Filtration Group is an affiliate of Madison Industries. “The College of Business at the University of Illinois at UrbanaChampaign is a very special place to me. It is on this campus that I developed a foundation for success. We are honoured to give back to the college that gave so much to us and I hope our choice to make a decisive investment encourages others to do the same,” said Larry Gies. www.madison.net, www.filtrationgroup.com and https://business.illinois.edu/ • Mann+Hummel has signed a global strategic partnership with the World Green Building Council (WorldGBC) to jointly promote its initiative Better Places for People focusing on better indoor air quality for buildings and offices. www.mann-hummel.com and www.worldgbc.org • Ceco Environmental’s Ceco Peerless business has entered into a representative agreement with Ras Al Hamra LLC to market the US company’s products in Oman. www.cecoenviro.com and www.rasalhamra.com • Graco Inc has declared a 3-for-1 split of the company’s common stock, to be distributed on 27 December 2017, for shareholders of record on 18 December 2017. This is the twelfth split of the company’s common stock since it was first publicly offered in 1969. www.graco.com • The UK specialist engineering company IMI plc has agreed to acquire Bimba Manufacturing Co, an Illinois, USAbased manufacturer of pneumatic, hydraulic and electric motion solutions. Bimba will nearly double the size of IMI Precision Engineering’s US Industrial Automation business. “Bimba is a terrific company which is perfectly aligned with IMI’s strategic objectives and we are delighted to welcome all of its employees to the Group,” said Mark Selway, chief executive of IMI. www.imiplc.com and www.bimba.com
4
Filtration Industry Analyst
wastewater, including better filtering, less sludge and the recovery of phosphate from wastewater. “This is a great opportunity. Partnering with Grundfos opens new possibilities for Novozymes, the HelloScience platform and its users. Until now, we have been able to connect the startups and academics, who are part of this network, with our knowledge about enzymes and microorganisms, and allowing them to use samples in their work, but now we can also connect them with Grundfos’ expertise in water treatment,” said Claus Crone Fuglsang, senior vice president, Research & Technology at Novozymes. “This is an excellent chance to see what we can do in combination with Novozymes. Adding biotechnology to what we can do in for instance digital dosing might very well open brand-new possibilities for example water treatment,” said Lars Enevoldsen, group vice president, Technology & Innovation at Grundfos. “And while we strengthen our connection with Novozymes, we also get an opportunity to review fresh takes on the water challenges from all over the world. We need new partnerships to solve these great challenges, and this is another step down that road.” For further information, visit www.grundfos.com, www.novozymes.com and www.helloscience.io
“Our history dates back to 1978 and since then, the group has kept some fundamental principles that still applies - decentralization, entrepreneurship and profitable growth,” said Bo Annvik, president and CEO of Indutrade. “For almost 40 years, these principles have characterized the development of our group, and they will continue to characterize the development also in the future.” As a result of the new business areas, there will also be changes to group management. Bo Annvik remains president and CEO of Indutrade; Patrik Johnson will take up his position as CFO by 1 July 2018; Jonas Halvord becomes head of acquisition and business development; while Morgan O’Brien takes charge of Flow Technology and becomes a new member of group management. Göte Mattsson continues to run Fluids & Mechanical Solutions; Joakim Skantze heads up Industrial Components; and Patrik Stolpe leads Measurement & Sensor Technology. Robert Timmer takes charge of Benelux; Markus Rueedin of DACH, Juha Kujala of Finland and Peter Rowlands of UK. Susann Nyberg remains head of group finance. As part of a structured succession process, Peter Eriksson, currently head of the Flow Technology business area, will become advisor to the CEO. For further information, visit www.indutrade.se
Indutrade to reorganise into 8 business areas
F
rom 1 January 2018, the Indutrade Group will be organised around eight business areas, instead of the current six. The eight business areas will be Flow Technology; Fluids & Mechanical Solutions; Industrial Components; Measurement & Sensor Technology; Benelux; DACH; Finland (formerly Engineering & Equipment); and UK. The company currently operates with six business areas: Engineering & Equipment; Flow Technology; Fluids & Mechanical Solutions; Industrial Components; Measurement & Sensor Technology and Special Products. Indutrade says that the changes are designed to strengthen its platform for continued profitable growth, to maintain a high acquisition pace and to better utilize its international skills.
Ahlstrom-Munksjö signs up to UN Global Compact
F
ilter media manufacturer Ahlstrom-Munksjö has committed to the United Nations Global Compact’s ten principles for ethical business practices. As a signatory, the company commits to continue to improve business operations so that the UN Global Compact and the principles become part of strategy, culture and day-to-day operations. AhlstromMunksjö will also communicate annually with its stakeholders on efforts to implement the principles, and post this Communication on Progress (COP) on the UN Global Compact website to support transparency. For further information, visit www.ahlstrom-munksjo. com and www.unglobalcompact.org
December 2017
Porvair: 2017 revenues up 6%
P
orvair plc, the filtration and environmental technologies specialist, says that revenue growth was 6% for the year ended 30 November 2017 and that full year earnings are expected to be ahead of management’s expectations. In a trading update, Porvair said that group underlying revenue growth for the year was 11%, with 13% in the Microfiltration division and 1% in the Metals Filtration division. Net cash at 30 November 2017 was £9.7 million, down from 2016’s £13.6 million, after capital and acquisition expenditure of around £11 million. The company, which will announce its preliminary results for the year ended 30 November 2017 on 29 January 2018, says that group order books for the start of the 2018 financial year are healthy. Porvair will have a new management and reporting structure from 2018, with three new divisions, serving distinct markets: Aerospace & Industrial; Laboratory; and Molten Metals. The new Laboratory division, which will focus on filtration and sample preparation products, has recently acquired Rohasys BV, a Dutch robotic sample handling company.
For further information, visit www.porvair.co.uk and www.rohasys.com
Huber expands in India through JV
G
ermany’s Huber SE has signed a joint venture agreement with India’s ATE Group.
December 2017
Huber has a 30% minority interest in the new ATE Huber Envirotech Private Ltd joint venture company which will manufacture Huber products in India, through ATE’s plants in Vasai, Maharashtra, and serve the Indian and Bangladeshi markets. Georg Huber, CEO of Huber SE, said: “Through this partnership, Huber brings in its technologies in the fields of solid liquid separation, membrane filtration and sludge management with an installed base of 40 000 installations.” “As India is building its infrastructure and industry, we need new approaches and products for wastewater management,” said Anuj Bhagwati, head of ATE Group. “This joint venture will serve India and Bangladesh with products from Huber and cater to industrial wastewater treatment projects in major international markets, leveraging their network. We have had a partnership for five years and now the JV will strengthen our presence.” For further information, visit www.huber.de and www. ategroup.com
Grundfos partners with Novozymes for clean water
G
rundfos and the Danish biotechnology company Novozymes have entered into an open innovation collaboration to find new solutions to the world’s water challenges. The partnership takes place on HelloScience.io, an online platform launched by Novozymes in September 2017 where entrepreneurs, startups and others can connect with industry. Four specific challenges will be posted online, allowing the HelloScience community to pitch their ideas on how to secure clean water for more people. Novozymes and Grundfos are looking for solutions to remove polluting chemicals from water and improve the cleaning of
Dividends • Pentair plc’s board of directors has approved a 1% increase in the company’s regular cash dividend rate from US$0.345 per share to US$0.35 per share. The company will pay its next cash dividend of US$0.35 per share on 9 February 2018 to shareholders of record at the close of business on 26 January 2018. 2018 will mark the 42nd consecutive year that Pentair has increased its dividend. www.pentair.com • Graco Inc has declared a regular quarterly dividend of US$0.3975 per common share, an increase of 10.4%, payable on 7 February 2018, to shareholders of record on 22 January 2018. With the 3-for-1 split of the company’s common stock on 27 December 2017, the dividend will be US$0.1325 per post-split share (see In Brief, page 4). www.graco.com • Irrigation systems and infrastructure products provider Lindsay Corp will pay a regular quarterly cash dividend of US$0.30 per share on 28 February 2018, to shareholders of record on 14 February 2018. www.lindsay.com • Esco Technologies Inc’s next quarterly cash dividend of US$0.08 per share will be paid on 19 January 2018 to stockholders of record on 4 January 2018. www.escotechnologies.com • Filter media company Neenah Paper Inc has announced an 11% increase in the cash dividend on the company’s common stock. The quarterly dividend will increase from US$0.37 per share to US$0.41 (US$1.64 per share on an annual basis) with the first payment at the new rate beginning in the first quarter of 2018. Neenah Paper Inc is changing its corporate name to Neenah Inc effective 1 January 2018 (see News, page14). The company’s ticker symbol on the New York Stock Exchange will remain “NP” and the names of subsidiaries will not be affected. www.neenah.com
Filtration Industry Analyst
3
IN BRIEF/NEWS
In Brief • The College of Business at the University of Illinois at Urbana-Champaign will be known as the Gies College of Business after a US$150 million naming gift from alumnus Larry Gies and his wife Beth. Larry Gies is the founder, president and CEO of Madison Industries. Filtration Group is an affiliate of Madison Industries. “The College of Business at the University of Illinois at UrbanaChampaign is a very special place to me. It is on this campus that I developed a foundation for success. We are honoured to give back to the college that gave so much to us and I hope our choice to make a decisive investment encourages others to do the same,” said Larry Gies. www.madison.net, www.filtrationgroup.com and https://business.illinois.edu/ • Mann+Hummel has signed a global strategic partnership with the World Green Building Council (WorldGBC) to jointly promote its initiative Better Places for People focusing on better indoor air quality for buildings and offices. www.mann-hummel.com and www.worldgbc.org • Ceco Environmental’s Ceco Peerless business has entered into a representative agreement with Ras Al Hamra LLC to market the US company’s products in Oman. www.cecoenviro.com and www.rasalhamra.com • Graco Inc has declared a 3-for-1 split of the company’s common stock, to be distributed on 27 December 2017, for shareholders of record on 18 December 2017. This is the twelfth split of the company’s common stock since it was first publicly offered in 1969. www.graco.com • The UK specialist engineering company IMI plc has agreed to acquire Bimba Manufacturing Co, an Illinois, USAbased manufacturer of pneumatic, hydraulic and electric motion solutions. Bimba will nearly double the size of IMI Precision Engineering’s US Industrial Automation business. “Bimba is a terrific company which is perfectly aligned with IMI’s strategic objectives and we are delighted to welcome all of its employees to the Group,” said Mark Selway, chief executive of IMI. www.imiplc.com and www.bimba.com
4
Filtration Industry Analyst
wastewater, including better filtering, less sludge and the recovery of phosphate from wastewater. “This is a great opportunity. Partnering with Grundfos opens new possibilities for Novozymes, the HelloScience platform and its users. Until now, we have been able to connect the startups and academics, who are part of this network, with our knowledge about enzymes and microorganisms, and allowing them to use samples in their work, but now we can also connect them with Grundfos’ expertise in water treatment,” said Claus Crone Fuglsang, senior vice president, Research & Technology at Novozymes. “This is an excellent chance to see what we can do in combination with Novozymes. Adding biotechnology to what we can do in for instance digital dosing might very well open brand-new possibilities for example water treatment,” said Lars Enevoldsen, group vice president, Technology & Innovation at Grundfos. “And while we strengthen our connection with Novozymes, we also get an opportunity to review fresh takes on the water challenges from all over the world. We need new partnerships to solve these great challenges, and this is another step down that road.” For further information, visit www.grundfos.com, www.novozymes.com and www.helloscience.io
“Our history dates back to 1978 and since then, the group has kept some fundamental principles that still applies - decentralization, entrepreneurship and profitable growth,” said Bo Annvik, president and CEO of Indutrade. “For almost 40 years, these principles have characterized the development of our group, and they will continue to characterize the development also in the future.” As a result of the new business areas, there will also be changes to group management. Bo Annvik remains president and CEO of Indutrade; Patrik Johnson will take up his position as CFO by 1 July 2018; Jonas Halvord becomes head of acquisition and business development; while Morgan O’Brien takes charge of Flow Technology and becomes a new member of group management. Göte Mattsson continues to run Fluids & Mechanical Solutions; Joakim Skantze heads up Industrial Components; and Patrik Stolpe leads Measurement & Sensor Technology. Robert Timmer takes charge of Benelux; Markus Rueedin of DACH, Juha Kujala of Finland and Peter Rowlands of UK. Susann Nyberg remains head of group finance. As part of a structured succession process, Peter Eriksson, currently head of the Flow Technology business area, will become advisor to the CEO. For further information, visit www.indutrade.se
Indutrade to reorganise into 8 business areas
F
rom 1 January 2018, the Indutrade Group will be organised around eight business areas, instead of the current six. The eight business areas will be Flow Technology; Fluids & Mechanical Solutions; Industrial Components; Measurement & Sensor Technology; Benelux; DACH; Finland (formerly Engineering & Equipment); and UK. The company currently operates with six business areas: Engineering & Equipment; Flow Technology; Fluids & Mechanical Solutions; Industrial Components; Measurement & Sensor Technology and Special Products. Indutrade says that the changes are designed to strengthen its platform for continued profitable growth, to maintain a high acquisition pace and to better utilize its international skills.
Ahlstrom-Munksjö signs up to UN Global Compact
F
ilter media manufacturer Ahlstrom-Munksjö has committed to the United Nations Global Compact’s ten principles for ethical business practices. As a signatory, the company commits to continue to improve business operations so that the UN Global Compact and the principles become part of strategy, culture and day-to-day operations. AhlstromMunksjö will also communicate annually with its stakeholders on efforts to implement the principles, and post this Communication on Progress (COP) on the UN Global Compact website to support transparency. For further information, visit www.ahlstrom-munksjo. com and www.unglobalcompact.org
December 2017