- Email: [email protected]
Hamworthy interims on track
NEWS/DIVIDENDS filters worldwide, with a smaller number of media manufacturers. A number of large companies such as GE have entered the market place. Consolidating companies such as Pentair have also created large players in the field. However, the market remains fragmented by geography, application and product types. For more information on Cartridge Filters: World Markets, visit www.mcilvainecompany.com//brochures/water.html#nO24
SPX Process Equipment opens Dubai office
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PX Process Equipment has opened an office in Dubai. This new facility extends the company’s activities in the Middle East and Gulf region, where it has had a permanent local presence for more than 10 years. “The diversification of industry in the Middle East is resulting in a considerable increase in demand for our products and engineered process solutions, which is why we are now investing in a greater range of technical and human resources. This will enable us to achieve our objective of providing a faster response to enquiries at a local level as well as providing enhanced technical support facilities,” said Mahar Soubra. For further information, visit www.spxprocessequipment.com
Hamworthy interims on track
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amworthy plc says it has made progress in all of its principal product areas and is performing in line with expectations. In a trading update, Hamworthy’s order book at 31 August 2007 stood at £301 million for delivery over the next three years compared with £270 million as at 30 June 2007. Joe Oatley, who succeeded Kelvyn Derrick as chief executive on 3 September 2007, said he was pleased to report good progress across the business. Hamworthy will announce its interim results on 19 November 2007. For further information, visit www.hamworthy.co.uk
November 2007
GE enters strategic partnership with Canadian province
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E Water & Process Technologies is to collaborate with Canada’s Alberta government to find technological solutions to challenges facing the province. A Memorandum of Understanding signed by the two companies focuses on longterm cooperative research and development (R&D) initiatives in water-related areas such as mitigating pipeline corrosion. “This is the right time in Alberta to focus on building a strategic partnership with a key industry leader, like GE. Increasing research efforts and technology commercialization is a growing priority for the province,” said Doug Horner, Minister of Advanced Education and Technology. The partnership creates a foundation for the Alberta government and GE to work with Alberta’s researchers, scientists and businesses in water-related research and development projects in areas such as oil sands technologies and water management, energy management including gasification, biofuels and greenhouse gas emissions, nanotechnology and healthcare technologies. “We are excited about this partnership that will explore ways to protect Alberta’s natural resources through sound water management,” said Jeff Garwood, president and CEO of GE Water & Process Technologies. “This collaborative effort will focus on innovative approaches to help meet today’s growing water and wastewater needs in power, oil and gas, healthcare, and various other industries.” For further information, visit www.ge.com
TSS specifies DuPont media
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otal Separation Solutions (TSS) has specified DuPont’s Hybrid Membrane Technology (HMT) media for its filters that will be used to clean oil field completion fluids. “The need for effective filtration of completion fluids is a key issue for the oil and gas industry, particularly in offshore drilling where unusable fluids must be stored in holding
Dividends • The Parker Hannifin Corp board of directors has declared a regular quarterly cash dividend of US$0.21 per share of common stock to shareholders of record on 15 November 2007. The dividend is payable on 30 November 2007. This is Parker’s 230th consecutive quarterly dividend and involves a distribution of approximately US$35 million. The company has increased its annual dividends paid to shareholders for 51 consecutive years, which is among the top five longest-running dividend-increase records in the Standard & Poor’s 500 Index. www.parker.com • Eaton Corp has declared a quarterly dividend of US$.43 per common share payable on 23 November 2007, to shareholders of record on 5 November 2007. In January of this year, Eaton announced a 10% quarterly dividend increase from US$0.39 to US$0.43 per share. Eaton has paid dividends on common shares every year since 1923. www.eaton.com • The Met-Pro Corp board has authorized an 8.6% cash dividend increase and also approved a four-for-three stock split which will be paid on 14 November 2007. The increased quarterly dividend is payable on 10 December 2007. This is the 33rd consecutive year that MetPro has paid either a cash or stock dividend. “We are executing our strategic plan and remain committed to creating long-term sustainable value and growth for our shareholders. With these things in mind, we believe that this is a good time to reward our loyal shareholders for their confidence in our company by increasing our dividend payment. We believe the stock split will improve the liquidity of our stock, help broaden the stock’s distribution, and also make it more attractive to investors,” said Raymond De Hont, chairman and CEO of Met-Pro. www.met-pro.com • Crane Co’s regular quarterly dividend of US$.18 per share for the fourth quarter of 2007 will be paid on 10 December 2007 to shareholders of record on 30 November 2007. www.craneco.com
Filtration Industry Analyst
5
SPX Process Equipment opens Dubai office
S
PX Process Equipment has opened an office in Dubai. This new facility extends the company’s activities in the Middle East and Gulf region, where it has had a permanent local presence for more than 10 years. “The diversification of industry in the Middle East is resulting in a considerable increase in demand for our products and engineered process solutions, which is why we are now investing in a greater range of technical and human resources. This will enable us to achieve our objective of providing a faster response to enquiries at a local level as well as providing enhanced technical support facilities,” said Mahar Soubra. For further information, visit www.spxprocessequipment.com
Hamworthy interims on track
H
amworthy plc says it has made progress in all of its principal product areas and is performing in line with expectations. In a trading update, Hamworthy’s order book at 31 August 2007 stood at £301 million for delivery over the next three years compared with £270 million as at 30 June 2007. Joe Oatley, who succeeded Kelvyn Derrick as chief executive on 3 September 2007, said he was pleased to report good progress across the business. Hamworthy will announce its interim results on 19 November 2007. For further information, visit www.hamworthy.co.uk
November 2007
GE enters strategic partnership with Canadian province
G
E Water & Process Technologies is to collaborate with Canada’s Alberta government to find technological solutions to challenges facing the province. A Memorandum of Understanding signed by the two companies focuses on longterm cooperative research and development (R&D) initiatives in water-related areas such as mitigating pipeline corrosion. “This is the right time in Alberta to focus on building a strategic partnership with a key industry leader, like GE. Increasing research efforts and technology commercialization is a growing priority for the province,” said Doug Horner, Minister of Advanced Education and Technology. The partnership creates a foundation for the Alberta government and GE to work with Alberta’s researchers, scientists and businesses in water-related research and development projects in areas such as oil sands technologies and water management, energy management including gasification, biofuels and greenhouse gas emissions, nanotechnology and healthcare technologies. “We are excited about this partnership that will explore ways to protect Alberta’s natural resources through sound water management,” said Jeff Garwood, president and CEO of GE Water & Process Technologies. “This collaborative effort will focus on innovative approaches to help meet today’s growing water and wastewater needs in power, oil and gas, healthcare, and various other industries.” For further information, visit www.ge.com
TSS specifies DuPont media
T
otal Separation Solutions (TSS) has specified DuPont’s Hybrid Membrane Technology (HMT) media for its filters that will be used to clean oil field completion fluids. “The need for effective filtration of completion fluids is a key issue for the oil and gas industry, particularly in offshore drilling where unusable fluids must be stored in holding
Dividends • The Parker Hannifin Corp board of directors has declared a regular quarterly cash dividend of US$0.21 per share of common stock to shareholders of record on 15 November 2007. The dividend is payable on 30 November 2007. This is Parker’s 230th consecutive quarterly dividend and involves a distribution of approximately US$35 million. The company has increased its annual dividends paid to shareholders for 51 consecutive years, which is among the top five longest-running dividend-increase records in the Standard & Poor’s 500 Index. www.parker.com • Eaton Corp has declared a quarterly dividend of US$.43 per common share payable on 23 November 2007, to shareholders of record on 5 November 2007. In January of this year, Eaton announced a 10% quarterly dividend increase from US$0.39 to US$0.43 per share. Eaton has paid dividends on common shares every year since 1923. www.eaton.com • The Met-Pro Corp board has authorized an 8.6% cash dividend increase and also approved a four-for-three stock split which will be paid on 14 November 2007. The increased quarterly dividend is payable on 10 December 2007. This is the 33rd consecutive year that MetPro has paid either a cash or stock dividend. “We are executing our strategic plan and remain committed to creating long-term sustainable value and growth for our shareholders. With these things in mind, we believe that this is a good time to reward our loyal shareholders for their confidence in our company by increasing our dividend payment. We believe the stock split will improve the liquidity of our stock, help broaden the stock’s distribution, and also make it more attractive to investors,” said Raymond De Hont, chairman and CEO of Met-Pro. www.met-pro.com • Crane Co’s regular quarterly dividend of US$.18 per share for the fourth quarter of 2007 will be paid on 10 December 2007 to shareholders of record on 30 November 2007. www.craneco.com
Filtration Industry Analyst
5