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New divisional HQ for John Crane
NEWS/IN BRIEF
New divisional HQ for John Crane
S
miths Group plc is breaking up its Specialty Engineering division. From 1 August 2008, John Crane, currently managed and operated as two separate units by teams in the UK and the US, will be unified under Paul Cox as president and will have its headquarters at the Morton Grove facility close to Chicago, Illinois. The other Specialty Engineering businesses, Smiths Interconnect and FlexTek, will continue to be run from their existing US locations. The presidents of all three businesses will report directly to the Smiths Group chief executive Philip Bowman. The changes are part of Smiths Group’s restructuring of its corporate and divisional headquarters to improve customer focus and reduce costs. Smiths Group currently has three divisions: Smiths Detection, Smiths Medical, and Smiths Specialty Engineering. In a recent interim management statement, Smiths Group said trading for the first nine months was in line with management’s expectations, with strong performances from Detection and Specialty Engineering offseting a flat performance in Medical. John Crane has benefited from the high levels of investment by the petrochemical industry. The integration of Dutch filtration company Indufil BV and Fiber Composite Co Inc (Fiberod), a Texas-based specialist in oil and gas lifting equipment, into John Crane’s global sales and service network is underway and both are trading ahead of their performance in the same period last year. For further information, visit www.smiths.com and www.johncrane.com
KSB donates to cyclone and earthquake victims
K
SB is supporting the victims of the cyclone in Burma and of the earthquake in China with financial aid and donations. For Burma, KSB is providing 20 well pumps from India for the supply of drinking water. In addition, ten petrol-driven
June 2008
drainage pump sets are also being sent to Burma. KSB employees have also collected money for food and donated clothing. A KSB contact in Burma is coordinating the local delivery of the donations. The Myanmar Red Cross has also ordered 50– 100 drainage pumps from KSB Singapore, which are being financed by donations to the relief organisation. KSB has donated 50 000 to the victims of the Chinese earthquake. Additional donations are expected from KSB companies in the Asia/Pacific Region. The company has two production facilities and seven sales branches in China. In the earthquake zone, KSB has an office in Chengdu, the capital of the province Sichuan. No KSB employees have been directly affected by the earthquake, and the office building is intact. For further information, visit www.ksb.com
GE to reduce fresh water use by 20% by 2012
G
E chairman and CEO Jeff Immelt has launched a new ecomagination commitment with a companywide absolute 20% fresh water reduction target by 2012. The new initiative is expected to save 7.4 million cubic meters of fresh water – enough water to fill more than 3000 Olympic-sized swimming pools. In 2006, GE used approximately 37 million cubic meters of fresh water. GE expects to implement water reuse technologies and/or process efficiencies at over 100 company facilities to meet the target. “Harnessing our technologies and global capabilities, GE’s commitment sets the standard for water footprint reductions,” said Immelt. “We will use our broad portfolio to reduce water consumption, ensure long-term supplies and increase operational returns at GE facilities around the world.” As part of the water reduction target, GE will also use its water assessment tools to help customers evaluate water use, identify efficiency goals and metrics and deliver solutions that meet customers’ environmental and regulatory goals.
For further information, visit www.ge.com/ecomagination
Dividends • Flowserve Corp’s board of directors has authorized the payment of a quarterly cash dividend of US$0.25 per share on the company’s outstanding shares of common stock. The dividend is payable on 9 July 2008, to shareholders of record on 25 June 2008. www.flowserve.com • The Curtiss-Wright board has declared a dividend of US$0.08 per share for common stock, payable on 18 July 2008 to stockholders of record on 3 July 2008. www.curtisswright.com • The board of Dover Corp has declared a regular quarterly cash dividend of US$0.20 per share, payable on 15 June 2008 to shareholders of record on 31 May 2008. www.dovercorporation.com • Roper Industries Inc’s board has approved a dividend of US$0.07250 per share payable on 31 July 2008 to stockholders of record on 11 July 2008. www.roperind.com • Crane Co’s regular quarterly dividend of US$0.18 per share for the second quarter of 2008 is payable on 10 June 2008 to shareholders of record on 30 May 2008. www.craneco.com • The Gorman-Rupp Co board will pay a quarterly cash dividend of US$0.10 per share on the company’s common stock, on 10 June 2008, to shareholders of record on 15 May 2008. This marks the 233rd consecutive dividend paid by Gorman-Rupp. www.gorman-rupp.com • On 16 May 2008, Andrews Sykes Group plc paid a second interim dividend of £0.271 per ordinary share in the company, a total dividend payment of almost £12.1 million. www.andrews-sykes.com • The ITT board has declared a cash dividend of US$0.175 per share for the second quarter of 2008, an increase of 25% on last year. This cash dividend will be paid on 1 July 2008 to shareholders of record on 23 May 2008. www.itt.com
Pump Industry Analyst
13
New divisional HQ for John Crane
S
miths Group plc is breaking up its Specialty Engineering division. From 1 August 2008, John Crane, currently managed and operated as two separate units by teams in the UK and the US, will be unified under Paul Cox as president and will have its headquarters at the Morton Grove facility close to Chicago, Illinois. The other Specialty Engineering businesses, Smiths Interconnect and FlexTek, will continue to be run from their existing US locations. The presidents of all three businesses will report directly to the Smiths Group chief executive Philip Bowman. The changes are part of Smiths Group’s restructuring of its corporate and divisional headquarters to improve customer focus and reduce costs. Smiths Group currently has three divisions: Smiths Detection, Smiths Medical, and Smiths Specialty Engineering. In a recent interim management statement, Smiths Group said trading for the first nine months was in line with management’s expectations, with strong performances from Detection and Specialty Engineering offseting a flat performance in Medical. John Crane has benefited from the high levels of investment by the petrochemical industry. The integration of Dutch filtration company Indufil BV and Fiber Composite Co Inc (Fiberod), a Texas-based specialist in oil and gas lifting equipment, into John Crane’s global sales and service network is underway and both are trading ahead of their performance in the same period last year. For further information, visit www.smiths.com and www.johncrane.com
KSB donates to cyclone and earthquake victims
K
SB is supporting the victims of the cyclone in Burma and of the earthquake in China with financial aid and donations. For Burma, KSB is providing 20 well pumps from India for the supply of drinking water. In addition, ten petrol-driven
June 2008
drainage pump sets are also being sent to Burma. KSB employees have also collected money for food and donated clothing. A KSB contact in Burma is coordinating the local delivery of the donations. The Myanmar Red Cross has also ordered 50– 100 drainage pumps from KSB Singapore, which are being financed by donations to the relief organisation. KSB has donated 50 000 to the victims of the Chinese earthquake. Additional donations are expected from KSB companies in the Asia/Pacific Region. The company has two production facilities and seven sales branches in China. In the earthquake zone, KSB has an office in Chengdu, the capital of the province Sichuan. No KSB employees have been directly affected by the earthquake, and the office building is intact. For further information, visit www.ksb.com
GE to reduce fresh water use by 20% by 2012
G
E chairman and CEO Jeff Immelt has launched a new ecomagination commitment with a companywide absolute 20% fresh water reduction target by 2012. The new initiative is expected to save 7.4 million cubic meters of fresh water – enough water to fill more than 3000 Olympic-sized swimming pools. In 2006, GE used approximately 37 million cubic meters of fresh water. GE expects to implement water reuse technologies and/or process efficiencies at over 100 company facilities to meet the target. “Harnessing our technologies and global capabilities, GE’s commitment sets the standard for water footprint reductions,” said Immelt. “We will use our broad portfolio to reduce water consumption, ensure long-term supplies and increase operational returns at GE facilities around the world.” As part of the water reduction target, GE will also use its water assessment tools to help customers evaluate water use, identify efficiency goals and metrics and deliver solutions that meet customers’ environmental and regulatory goals.
For further information, visit www.ge.com/ecomagination
Dividends • Flowserve Corp’s board of directors has authorized the payment of a quarterly cash dividend of US$0.25 per share on the company’s outstanding shares of common stock. The dividend is payable on 9 July 2008, to shareholders of record on 25 June 2008. www.flowserve.com • The Curtiss-Wright board has declared a dividend of US$0.08 per share for common stock, payable on 18 July 2008 to stockholders of record on 3 July 2008. www.curtisswright.com • The board of Dover Corp has declared a regular quarterly cash dividend of US$0.20 per share, payable on 15 June 2008 to shareholders of record on 31 May 2008. www.dovercorporation.com • Roper Industries Inc’s board has approved a dividend of US$0.07250 per share payable on 31 July 2008 to stockholders of record on 11 July 2008. www.roperind.com • Crane Co’s regular quarterly dividend of US$0.18 per share for the second quarter of 2008 is payable on 10 June 2008 to shareholders of record on 30 May 2008. www.craneco.com • The Gorman-Rupp Co board will pay a quarterly cash dividend of US$0.10 per share on the company’s common stock, on 10 June 2008, to shareholders of record on 15 May 2008. This marks the 233rd consecutive dividend paid by Gorman-Rupp. www.gorman-rupp.com • On 16 May 2008, Andrews Sykes Group plc paid a second interim dividend of £0.271 per ordinary share in the company, a total dividend payment of almost £12.1 million. www.andrews-sykes.com • The ITT board has declared a cash dividend of US$0.175 per share for the second quarter of 2008, an increase of 25% on last year. This cash dividend will be paid on 1 July 2008 to shareholders of record on 23 May 2008. www.itt.com
Pump Industry Analyst
13