- Email: [email protected]
NOV closes Fjords Processing acquisition
DIVIDENDS/NEWS
Dividends • Parker Hannifin Corp’s board of directors has increased the company’s regular quarterly cash dividend to US$0.66 per share of common stock. This represents a 5% increase over the previous quarterly cash dividend of US$0.63 per common share and is the company’s 267th consecutive quarterly dividend. The latest dividend is payable on 3 March 2017 to shareholders of record on 10 February 2017. www.parker.com • At its December 2016 meeting, the Clarcor Inc board declared a regular quarterly dividend of US$0.25 per share of common stock. The dividend will be paid on 10 February 2017 to shareholders of record on 30 January 2017. Late last year, Parker Hannifin announced that it had entered into a definitive agreement to acquire Clarcor in a cash deal valued at US$4.3 billion (see Filtration Industry Analyst, December 2016). www.clarcor.com • Donaldson Co Inc will pay a regular cash dividend of US$0.175 per share on 3 March 2017, to shareholders of record on 14 February 2017. The US filtration company has paid a cash dividend every quarter for the past 61 years. www.donaldson.com • GE’s board of directors has raised the company’s quarterly dividend by 4%, or US$0.01, to US$0.24 per outstanding share of common stock. “This dividend increase is in line with our multi-year capital allocation framework to have a dividend payout ratio of 45–50% and then grow the dividend in line with earnings,” said GE chairman and CEO Jeff Immelt. GE is currently exploring the sale of its Water & Process Technologies business (see Filtration Industry Analyst, November 2016). www.ge.com • Lindsay Corp’s regular quarterly cash dividend of US$0.29 per share is payable on 28 February 2017, to shareholders of record on 14 February 2017. At 31 August 2016 Lindsay had approximately 10.6 million shares outstanding. These shares are traded on the New York Stock Exchange under the symbol LNN. www.lindsay.com
4
Filtration Industry Analyst
headquarters in Kongens Lyngby, Denmark is now in place. The new plant will enable Aquaporin to expand production capacity considerably in 2017, and can scale up existing and new Aquaporin Inside products. The company says that the first focus in production will be tap water reverse osmosis (TWRO) Aquaporin Inside membranes. Peter Holme Jensen, CEO of Aquaporin A/S, said: “The new production facilities represent a significant milestone ahead of worldwide market entry. Our product portfolio offers solutions to a wide range of applications for several segments in the water purification industry. It is crucial that we are now able to supply Aquaporin Inside products in large quantities to the market – this will be a major focus for the entire Aquaporin Group in 2017.” Aquaporin moved into its current premises in 2016, where it has research labs, offices and now a full-scale production plant. For further information, visit www.aquaporin.dk
Gabelli’s 27th Annual Pump, Valve & Water Systems Symposium
G
abelli & Co will host its 27th Annual Pump, Valve & Water Systems Symposium on 1 March 2017 in New York City. The research meeting will feature presentations, fireside chats, and one-onone meetings with senior management of a number of industrial companies, with an emphasis on infrastructure spending and global energy markets. Participating companies with filtration interests include AquaVenture Holdings Ltd, Crane Co, Graco Inc, ITT Corp, Layne Christensen Co, Watts Water Technologies Inc and Xylem Inc. For further information, visit www.gabelli.com
Pentair awards 2016 community grants
T
he Pentair Foundation has awarded grants totalling more than US$750 000 to 41 communitybased organizations around the world that are focused on providing services related to water, food and education.
“As a global company with the resources, technologies and values to make a positive impact, we are committed to helping improve the quality of life of people around the world,” said Randall Hogan, chairman and CEO of Pentair. “The community grant program is one initiative within the Pentair Foundation aimed at supporting the communities where our employees live and work.” Community grants recipients included Science Buddies, Water for People, Friends of Africa Education, Opportunity International, EPICS, and multiple chapters of the Boys & Girls Clubs, among others. Established in 1998, the Pentair Foundation has donated more than US$55 million to philanthropic causes, strengthening the communities in which it operates, and providing sustainable solutions for safe, clean water to 3 million people around the developing world. The Pentair Foundation focuses its philanthropic efforts on supporting the communities where its employees live and work, and helping solve some of the world’s biggest challenges, including food, water, and education. For further information, visit www.pentair.com
NOV closes Fjords Processing acquisition
N
ational Oilwell Varco Inc (NOV) has completed the acquisition of Fjords Processing from Akastor ASA (see Filtration Industry Analyst, October 2016). Fjords specialises in process support systems for gas, oil and water, including filtration, separation, flotation, dehydration and desalting technologies. NOV says that the Fjords Processing acquisition provides complementary technology for several of NOV’s existing business units, including Process and Flow Technology, which currently provide production and process solutions. Clay Williams, NOV’s chairman, president and CEO, said: “We are excited to bring the Fjords Processing capabilities into NOV. The technology that Fjords has developed will further allow our customers to enhance their production and separation business, while also benefiting from our global service and support network that customers have come to know and trust.”
For further information, visit www.fjordsprocessing. com, www.nov.com and www.akastor.com
January 2017
Dividends • Parker Hannifin Corp’s board of directors has increased the company’s regular quarterly cash dividend to US$0.66 per share of common stock. This represents a 5% increase over the previous quarterly cash dividend of US$0.63 per common share and is the company’s 267th consecutive quarterly dividend. The latest dividend is payable on 3 March 2017 to shareholders of record on 10 February 2017. www.parker.com • At its December 2016 meeting, the Clarcor Inc board declared a regular quarterly dividend of US$0.25 per share of common stock. The dividend will be paid on 10 February 2017 to shareholders of record on 30 January 2017. Late last year, Parker Hannifin announced that it had entered into a definitive agreement to acquire Clarcor in a cash deal valued at US$4.3 billion (see Filtration Industry Analyst, December 2016). www.clarcor.com • Donaldson Co Inc will pay a regular cash dividend of US$0.175 per share on 3 March 2017, to shareholders of record on 14 February 2017. The US filtration company has paid a cash dividend every quarter for the past 61 years. www.donaldson.com • GE’s board of directors has raised the company’s quarterly dividend by 4%, or US$0.01, to US$0.24 per outstanding share of common stock. “This dividend increase is in line with our multi-year capital allocation framework to have a dividend payout ratio of 45–50% and then grow the dividend in line with earnings,” said GE chairman and CEO Jeff Immelt. GE is currently exploring the sale of its Water & Process Technologies business (see Filtration Industry Analyst, November 2016). www.ge.com • Lindsay Corp’s regular quarterly cash dividend of US$0.29 per share is payable on 28 February 2017, to shareholders of record on 14 February 2017. At 31 August 2016 Lindsay had approximately 10.6 million shares outstanding. These shares are traded on the New York Stock Exchange under the symbol LNN. www.lindsay.com
4
Filtration Industry Analyst
headquarters in Kongens Lyngby, Denmark is now in place. The new plant will enable Aquaporin to expand production capacity considerably in 2017, and can scale up existing and new Aquaporin Inside products. The company says that the first focus in production will be tap water reverse osmosis (TWRO) Aquaporin Inside membranes. Peter Holme Jensen, CEO of Aquaporin A/S, said: “The new production facilities represent a significant milestone ahead of worldwide market entry. Our product portfolio offers solutions to a wide range of applications for several segments in the water purification industry. It is crucial that we are now able to supply Aquaporin Inside products in large quantities to the market – this will be a major focus for the entire Aquaporin Group in 2017.” Aquaporin moved into its current premises in 2016, where it has research labs, offices and now a full-scale production plant. For further information, visit www.aquaporin.dk
Gabelli’s 27th Annual Pump, Valve & Water Systems Symposium
G
abelli & Co will host its 27th Annual Pump, Valve & Water Systems Symposium on 1 March 2017 in New York City. The research meeting will feature presentations, fireside chats, and one-onone meetings with senior management of a number of industrial companies, with an emphasis on infrastructure spending and global energy markets. Participating companies with filtration interests include AquaVenture Holdings Ltd, Crane Co, Graco Inc, ITT Corp, Layne Christensen Co, Watts Water Technologies Inc and Xylem Inc. For further information, visit www.gabelli.com
Pentair awards 2016 community grants
T
he Pentair Foundation has awarded grants totalling more than US$750 000 to 41 communitybased organizations around the world that are focused on providing services related to water, food and education.
“As a global company with the resources, technologies and values to make a positive impact, we are committed to helping improve the quality of life of people around the world,” said Randall Hogan, chairman and CEO of Pentair. “The community grant program is one initiative within the Pentair Foundation aimed at supporting the communities where our employees live and work.” Community grants recipients included Science Buddies, Water for People, Friends of Africa Education, Opportunity International, EPICS, and multiple chapters of the Boys & Girls Clubs, among others. Established in 1998, the Pentair Foundation has donated more than US$55 million to philanthropic causes, strengthening the communities in which it operates, and providing sustainable solutions for safe, clean water to 3 million people around the developing world. The Pentair Foundation focuses its philanthropic efforts on supporting the communities where its employees live and work, and helping solve some of the world’s biggest challenges, including food, water, and education. For further information, visit www.pentair.com
NOV closes Fjords Processing acquisition
N
ational Oilwell Varco Inc (NOV) has completed the acquisition of Fjords Processing from Akastor ASA (see Filtration Industry Analyst, October 2016). Fjords specialises in process support systems for gas, oil and water, including filtration, separation, flotation, dehydration and desalting technologies. NOV says that the Fjords Processing acquisition provides complementary technology for several of NOV’s existing business units, including Process and Flow Technology, which currently provide production and process solutions. Clay Williams, NOV’s chairman, president and CEO, said: “We are excited to bring the Fjords Processing capabilities into NOV. The technology that Fjords has developed will further allow our customers to enhance their production and separation business, while also benefiting from our global service and support network that customers have come to know and trust.”
For further information, visit www.fjordsprocessing. com, www.nov.com and www.akastor.com
January 2017