- Email: [email protected]
Hollingsworth & Vose increases filtration prices
NEWS
Enertech partners with CCI Thermal Technologies on nuclear filtration
C
urtiss-Wright Flow Control Co’s Enertech business unit and CCI Thermal Technologies Inc have signed an agreement to work together to provide heating and filtration solutions and products to the nuclear industry worldwide. Enertech will sell and market CCI Thermal Technologies’ Caloritech Engineered Electric Heat and 3L Filters Engineered Filtration Systems used in safety- and nonsafety-related applications for nuclear power plants and other facilities performing nuclear-related activities. “This partnership with CCI Thermal Technologies marks a new direction in the development of Enertech’s capabilities,” said David Linton, president, CurtissWright Flow Control Company and cochief operating officer, Curtiss-Wright Corp. “We are now able to focus on the details of plant systems providing custom solutions that are beyond the individual component level.” “Our objective is to provide customers with fully integrated nuclear solutions,” said Alejandro Maldonado, chief technical officer, CCI Thermal Technologies. “Through this partnership, we have solidified our position to serve this important market.” For further information, visit www.cwfc.com, http:// enertech.cwfc.com, and www.ccithermal.com
Tri-Tech acquires US water technology company
C
hina’s Tri-Tech Holding Inc has acquired the operating assets of J&Y International Inc, a company based in Menomonee Falls, Wisconsin, USA, which designs and manufactures industrial chemical water recovery systems, desalination plants, domestic and industrial wastewater treatment systems and reverse osmosis filtration systems.
June 2011
The purchase price of up to US$1.5 million will be paid in up to four installments of cash and Tri-Tech stock, subject to an earn-out purchase price payment to be made based on J&Y’s earnings before interest, taxes, depreciation and amortisation through to 31 December 2012. Tri-Tech president Phil Fan said: “J&Y has developed superior desalination technology, which has enormous market potential. With this acquisition, Tri-Tech will have the technology to expand into the rapidly growing markets for seawater desalination, water reuse, and zero liquid discharge (ZLD), driven by increased scarcity of water resources. We expect the marketing power of Tri-Tech combined with J&Y’s superior technology will result in synergies that will enhance our overall competitive advantage. Tri-Tech is systematically acquiring unique technologies globally and building its technology portfolio and capabilities in the advanced water treatment and purification, and reuse fields.” “This further underscores our determination to build a major global company in the water treatment industry. J&Y brings technology and engineering experience for our company that will enable us to expand our business in a major way in not just desalination but also industrial wastewater, water treatment and other related fields,” said TriTech CEO Warren Zhao. For further information, visit www.tri-tech.cn and www.jyint.com
Hollingsworth & Vose increases filtration prices
H
ollingsworth & Vose has announced price increases of up to 17% for its High Efficiency & Specialty Filtration business, which serves HVAC, clean room, facemask, appliance, analytical and other markets. The company blamed the continued escalation in synthetic and fiberglass raw materials, and freight costs. The new prices for glass and synthetic filter media will be effective by 1 August 2011 or as contracts allow. The increase will vary by product, grade, and region depending on cost escalation. For further information, visit www.hollingsworth-vose. com
Lydall secures US$35mn revolving line of credit
L
ydall Inc has a new five-year, US$35 million revolving credit facility with Bank of America NA. The new credit facility replaces Lydall’s prior US$35 million asset-based lending facility with another lender that was scheduled to expire in March 2012. The new bank agreement includes lower interest rates and other improved terms, such as fewer borrowing restrictions. “This new credit facility represents Bank of America’s confidence in Lydall, and we look forward to partnering with them in the coming years. The flexibility that this agreement offers the company will support both our operating needs and our strategic growth initiatives throughout its term,” said Lydall president and CEO Dale Barnhart. The facility is subject to customary covenants, including meeting EBITDA milestones and liquidity ratios. Lydall had no outstanding borrowings at 16 June 2011. For further information, visit www.lydall.com
AAF International celebrates 90th anniversary
A
ir filter manufacturer AAF International is celebrating its 90th anniversary this year. The company was founded by William Reed in Louisville, Kentucky in 1921 to manufacture the Reed Air Filter. In 1929, Reed combined with six other air filter companies to create American Air Filter Co Inc. AAF International was acquired by Japan’s Daikin Industries Ltd in 2006. “Reaching this milestone in our company’s history is a true testament to our employees, who have worked together to make this company what it is today. We are very proud of the achievements that have taken place over the last 90 years,” said Kevin Lynch, AAF International chief operating officer. “This is an opportunity to acknowledge the accomplishments of the past, while more importantly focusing on continually improving our operations,
Filtration Industry Analyst
3
Enertech partners with CCI Thermal Technologies on nuclear filtration
C
urtiss-Wright Flow Control Co’s Enertech business unit and CCI Thermal Technologies Inc have signed an agreement to work together to provide heating and filtration solutions and products to the nuclear industry worldwide. Enertech will sell and market CCI Thermal Technologies’ Caloritech Engineered Electric Heat and 3L Filters Engineered Filtration Systems used in safety- and nonsafety-related applications for nuclear power plants and other facilities performing nuclear-related activities. “This partnership with CCI Thermal Technologies marks a new direction in the development of Enertech’s capabilities,” said David Linton, president, CurtissWright Flow Control Company and cochief operating officer, Curtiss-Wright Corp. “We are now able to focus on the details of plant systems providing custom solutions that are beyond the individual component level.” “Our objective is to provide customers with fully integrated nuclear solutions,” said Alejandro Maldonado, chief technical officer, CCI Thermal Technologies. “Through this partnership, we have solidified our position to serve this important market.” For further information, visit www.cwfc.com, http:// enertech.cwfc.com, and www.ccithermal.com
Tri-Tech acquires US water technology company
C
hina’s Tri-Tech Holding Inc has acquired the operating assets of J&Y International Inc, a company based in Menomonee Falls, Wisconsin, USA, which designs and manufactures industrial chemical water recovery systems, desalination plants, domestic and industrial wastewater treatment systems and reverse osmosis filtration systems.
June 2011
The purchase price of up to US$1.5 million will be paid in up to four installments of cash and Tri-Tech stock, subject to an earn-out purchase price payment to be made based on J&Y’s earnings before interest, taxes, depreciation and amortisation through to 31 December 2012. Tri-Tech president Phil Fan said: “J&Y has developed superior desalination technology, which has enormous market potential. With this acquisition, Tri-Tech will have the technology to expand into the rapidly growing markets for seawater desalination, water reuse, and zero liquid discharge (ZLD), driven by increased scarcity of water resources. We expect the marketing power of Tri-Tech combined with J&Y’s superior technology will result in synergies that will enhance our overall competitive advantage. Tri-Tech is systematically acquiring unique technologies globally and building its technology portfolio and capabilities in the advanced water treatment and purification, and reuse fields.” “This further underscores our determination to build a major global company in the water treatment industry. J&Y brings technology and engineering experience for our company that will enable us to expand our business in a major way in not just desalination but also industrial wastewater, water treatment and other related fields,” said TriTech CEO Warren Zhao. For further information, visit www.tri-tech.cn and www.jyint.com
Hollingsworth & Vose increases filtration prices
H
ollingsworth & Vose has announced price increases of up to 17% for its High Efficiency & Specialty Filtration business, which serves HVAC, clean room, facemask, appliance, analytical and other markets. The company blamed the continued escalation in synthetic and fiberglass raw materials, and freight costs. The new prices for glass and synthetic filter media will be effective by 1 August 2011 or as contracts allow. The increase will vary by product, grade, and region depending on cost escalation. For further information, visit www.hollingsworth-vose. com
Lydall secures US$35mn revolving line of credit
L
ydall Inc has a new five-year, US$35 million revolving credit facility with Bank of America NA. The new credit facility replaces Lydall’s prior US$35 million asset-based lending facility with another lender that was scheduled to expire in March 2012. The new bank agreement includes lower interest rates and other improved terms, such as fewer borrowing restrictions. “This new credit facility represents Bank of America’s confidence in Lydall, and we look forward to partnering with them in the coming years. The flexibility that this agreement offers the company will support both our operating needs and our strategic growth initiatives throughout its term,” said Lydall president and CEO Dale Barnhart. The facility is subject to customary covenants, including meeting EBITDA milestones and liquidity ratios. Lydall had no outstanding borrowings at 16 June 2011. For further information, visit www.lydall.com
AAF International celebrates 90th anniversary
A
ir filter manufacturer AAF International is celebrating its 90th anniversary this year. The company was founded by William Reed in Louisville, Kentucky in 1921 to manufacture the Reed Air Filter. In 1929, Reed combined with six other air filter companies to create American Air Filter Co Inc. AAF International was acquired by Japan’s Daikin Industries Ltd in 2006. “Reaching this milestone in our company’s history is a true testament to our employees, who have worked together to make this company what it is today. We are very proud of the achievements that have taken place over the last 90 years,” said Kevin Lynch, AAF International chief operating officer. “This is an opportunity to acknowledge the accomplishments of the past, while more importantly focusing on continually improving our operations,
Filtration Industry Analyst
3