IN BRIEF/NEWS
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iÊ >}i`>Ê vÀÊ Aker Solutions ASA’s Extraordinary General Meeting on 12 August 2014 were adopted (see Pump Industry Analyst, May and July 2014). http://akersolutions.com/EGM-2014 UÊ The Weir Group plc has terminated its joint corporate broker engagement with Bank of America Merrill Lynch because of an “undisclosed conflict of interest arising from its engagement as broker by another company.” The Scottish engineering group continues to engage UBS as its corporate broker. www.weir.co.uk UÊ Curtiss-Wright Corp celebrated the 85th anniversary of its listing on the New York Stock Exchange (NYSE) with executive chairman Martin Benante, and president and CEO David Adams ringing The Closing Bell on 22 August 2014. The company began trading on the NYSE on 22 August 1929. Curtiss-Wright was formed in July 1929 by the merger of companies founded by aviation pioneers Glenn Curtiss and the Wright brothers. Curtiss-Wright is among the 65 longestlisted companies on the NYSE. www.curtisswright.com and https://new. livestream.com/NYSE/CurtissWright UÊ Xylem Inc’s new global headquarters in Rye Brook, New York have achieved Leadership in Energy and Environmental Design (LEED) Gold certification. www.xyleminc.com UÊ ,i}ÃÌÀ>ÌÊ ÃÊ ÜÊ «iÊ vÀÊ Ì
iÊ Hydraulic Institute’s (HI) 2014 Fall Meeting which will take place 8–10 October 2014 in St Louis, Missouri, USA. This year’s Fall Meeting will focus on the Department of Energy test procedures, integrated educational marketing and standards development. The Fall meeting is open to HI members, associate members and standards partners, as well as utilities and energy efficiency NGOs who are sponsors of Pump Systems Matter. Eligible prospective members are welcome to attend with advance approval. Young engineers are particularly encouraged to attend. HI is offering a 50% discount on registration to individuals at member companies who are under 35 and have served less than 10 years in the pump industry. www.Pumps.org/14Fall
New divisional structure for FLSmidth
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LSmidth will have a new organisational structure from 1 January 2015, with four divisions: Minerals, Cement, Customer Services and Product Companies. The current Material Handling and Mineral Processing divisions will be merged into a Minerals division. Cement and Customer Services will be maintained as separate divisions, while a new Product Companies division will be created. The Minerals division will focus on delivering systems to the coal, copper, gold, iron ore and fertilizer mining industries. The business covers mineral processing and material handling technologies. With the dedicated Cement division, FLSmidth will provide complete plants and product lines, and engineering, procurement and construction (EPC) services. The Customer Services division will continue to develop the Operations & Maintenance (O&M) business and sell wear parts, consumables and new service concepts to the minerals and cement industries. FLSmidth will also separate a number of product companies from the project divisions to form a stand-alone Product Companies division. The new division will serve FLSmidth’s six key industries: copper, coal, iron ore, gold, fertilizer and cement, as well as the Minerals and Cement divisions and related industries. The Product Companies division will include ABON, Buffalo, Pfister, Ventomatic, Krebs, MAAG Gear, Airtech, Möller and Automation. FLSmidth says that the new structure increases operational efficiency as each division will have a more homogeneous business model, segmented customer approach and distinct management focus. As a result of the reorganisation FLSmidth believes that it will be well positioned to reap the benefits of being in cyclical industries. “This is an organisational improvement that prepares FLSmidth for the coming upturn by increasing operational efficiency, simplifying the structure, refining management focus and laying out the foundation for globalising our product companies. This gives us a strong platform for future value creation,” said FLSmidth Group CEO Thomas Schulz. For further information, visit www.flsmidth.com
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Pump Industry Analyst
OneSubsea to set up well intervention alliance with Helix and Schlumberger
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neSubsea, Helix Energy Solutions Group Inc and Schlumberger are forming an alliance to develop technologies and deliver services to optimise the cost and efficiency of subsea well intervention systems. A joint venture between Cameron and Schlumberger, OneSubsea manufactures and supplies subsea well intervention equipment and services, including pumps. Helix is a leading subsea well intervention provider, with a large fleet of well intervention vessels, while Schlumberger supplies technology and services to oilfields, including conveyance systems and in-well technologies for subsea applications. The alliance will provide a fully integrated offering, combining marine support with well access and control technologies. Objectives include the expansion of applications enabled by subsea well-access technology, and specific solutions for deep and ultradeepwater basins and higher well pressure environments. “This unique alliance will drive optimization in the complete subsea well intervention value chain. Together, we will develop leading technology to reduce operational risk, increase efficiency, improve recovery, and lower the overall cost of subsea well intervention operations for our clients,” said Cameron chairman, president and CEO Jack Moore. Schlumberger CEO Paal Kibsgaard added: “This alliance reinforces our commitment, along with our OneSubsea joint venture company partner Cameron, to help our customers improve production and recovery from their subsea developments. We are determined to drive further integration of our leading technology portfolio, backed by improved reliability and greater efficiency, to create a stepchange in performance throughout the E&P value chain.” For further information, visit www.onesubsea.com, www.helixesg.com, www.slb.com and www.c-a-m.com
August 2014