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OriginClear seals Progressive Water Treatment deal
NEWS/DIVIDENDS simultaneously improving overall treatment process efficiency. The technology is especially critical for ultrafiltration (UF) water treatment plants to minimise membrane fouling, and thus, highly complementary to H2O Innovation’s project business. H2O Innovation will also acquire Clearlogx’s business related to the sale of coagulants for conventional and membrane filtration systems. The Clearlogx control technology will be added to H2O Innovation’s systems group offering while the specialty coagulants business will join the PWT speciality chemicals group. “This acquisition fits perfectly with H2O Innovation’s vision to complement its offering to its customers and to create synergies between its different business lines. Moreover, this transaction will be accretive from day one to our earning with current sales of approximately US$1.2 million per year and an EBITDA level reaching 15% to 25% of Clearlogx’s revenues. This new business unit will undoubtedly contribute to the growth and profitability of H2O Innovation by complementing its offering, generating more recurrent sales and bringing differentiation,” said Frédéric Dugré, president and CEO of H2O Innovation. The purchase will be financed by a secured long-term debt of US$2 million with a Canadian chartered bank. For further information, visit www.h2oinnovation.com
OriginClear seals Progressive Water Treatment deal
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riginClear Inc has completed the acquisition of Dallas-based Progressive Water Treatment Inc (PWT), a designer, builder and service provider for industrial water treatment applications. This is the first transaction in OriginClear’s corporate strategy to rapidly acquire US water service companies focused on specialised water treatment (see Filtration Industry Analyst, August 2015). PWT expects to report 2015 revenues of more than US$6 million. Based on the current backlog of orders, PWT believes it will achieve revenues of more than US$7 million in 2016.
October 2015
“Industrial users are increasingly outsourcing their water treatment, but it is a very fragmented business,” said Riggs Eckelberry, CEO of OriginClear. “We believe that there is value in building a single group of water service companies, each with a specific and complementary focus. PWT is a great first acquisition in this process. We plan at least four more in the next two years.” “By joining the OriginClear Group of Companies, we believe we have a major opportunity to grow our existing water services business and penetrate new markets,” said Marc Stevens, PWT’s president. “OriginClear’s business aligns perfectly with Progressive Water Treatment’s, and we look forward to continued expansion together.” For further information, visit www.originclear.com and www.progressivewater.com
ITT brands partner to serve Mexican offshore energy market
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TT Corp’s C’treat and Bombas Goulds de Mexico (BGM) brands have formed an alliance to deliver largescale seawater, potable water and high-purity water solutions to the offshore energy industry in Mexico. Under the alliance, BGM is now an authorised sales representative of C’treat products and services with exclusive territory rights in the offshore market in Mexico. BGM and C’treat also plan to open an office in Cuidad del Carmen, Campeche, Mexico to provide customer project sales support, aftermarket parts and offshore-qualified service. C’treat specialises in offshore reverse osmosis seawater desalination systems, while Goulds Pumps’ BGM manufacturing plant near Mexico City supplies API pumping systems to markets in Latin America. “This strategic ITT alliance demonstrates our growing commitment to supporting the world oil and gas market and the offshore industry, in particular,” said Aris Chicles, president of ITT’s Industrial Process business. “The Mexican offshore market is growing rapidly and this alliance will allow us to enhance our presence and bring our customers additional support and services through a onestop solution for offshore platforms.” For further information, visit www.itt.com, www.ctreat.com and www.gouldspumps.com
Dividends UÊ Cantel Medical Corp’s board of directors has approved a 20% increase in its semiannual cash dividend from US$0.05 to US$0.06 per outstanding share of the company’s common stock. The dividend is payable on 29 January 2016 to shareholders of record on 15 January 2016. The increased dividend will raise Cantel Medical’s annual dividend payment from US$0.10 to US$0.12 per share. Charles Diker, chairman of the Cantel Medical board, said: “The 20% increase in our dividend demonstrates Cantel’s strong financial position and our confidence in Cantel’s future performance.” www.cantelmedical.com UÊ Clarcor Inc is increasing the company’s regular quarterly dividend by 10%, from US$0.20 to US$0.22 per share of common stock. The company paid the new US$0.22 per share dividend to shareholders on 23 October 2015. Clarcor has increased its dividends every year since 1983. www.clarcor.com UÊ / iÊCummins Inc board has declared a quarterly common stock cash dividend of US$0.975 per share which will be payable on 1 December 2015, to shareholders of record on 20 November 2015. www.cummins.com UÊ Xylem Inc will pay a fourth quarter dividend of US$0.1408 per share on 2 December 2015 to shareholders of record on 4 November 2015. www.xylem.com UÊ / iÊ Schlumberger Ltd board has announced a quarterly dividend of US$0.50 per share of outstanding common stock. The dividend is payable on 8 January 2016 to stockholders of record on 2 December 2015. www.slb.com UÊ ITT Corp’s fourth-quarter cash dividend of US$0.1183 per share on the company’s outstanding stock will be payable on 31 December 2015, to shareholders of record on 11 December 2015. www.itt.com UÊ / iÊ Ài}Õ>ÀÊ Pentair plc quarterly cash dividend of US$0.32 per share will be paid on 6 November 2015 to shareholders of record on 23 October 2015. Pentair is paying an annual cash dividend of US$1.28 per share, up from US$1.10 per share in 2014. The company has increased its dividend for 39 consecutive years. www.pentair.com
Filtration Industry Analyst
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OriginClear seals Progressive Water Treatment deal
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riginClear Inc has completed the acquisition of Dallas-based Progressive Water Treatment Inc (PWT), a designer, builder and service provider for industrial water treatment applications. This is the first transaction in OriginClear’s corporate strategy to rapidly acquire US water service companies focused on specialised water treatment (see Filtration Industry Analyst, August 2015). PWT expects to report 2015 revenues of more than US$6 million. Based on the current backlog of orders, PWT believes it will achieve revenues of more than US$7 million in 2016.
October 2015
“Industrial users are increasingly outsourcing their water treatment, but it is a very fragmented business,” said Riggs Eckelberry, CEO of OriginClear. “We believe that there is value in building a single group of water service companies, each with a specific and complementary focus. PWT is a great first acquisition in this process. We plan at least four more in the next two years.” “By joining the OriginClear Group of Companies, we believe we have a major opportunity to grow our existing water services business and penetrate new markets,” said Marc Stevens, PWT’s president. “OriginClear’s business aligns perfectly with Progressive Water Treatment’s, and we look forward to continued expansion together.” For further information, visit www.originclear.com and www.progressivewater.com
ITT brands partner to serve Mexican offshore energy market
I
TT Corp’s C’treat and Bombas Goulds de Mexico (BGM) brands have formed an alliance to deliver largescale seawater, potable water and high-purity water solutions to the offshore energy industry in Mexico. Under the alliance, BGM is now an authorised sales representative of C’treat products and services with exclusive territory rights in the offshore market in Mexico. BGM and C’treat also plan to open an office in Cuidad del Carmen, Campeche, Mexico to provide customer project sales support, aftermarket parts and offshore-qualified service. C’treat specialises in offshore reverse osmosis seawater desalination systems, while Goulds Pumps’ BGM manufacturing plant near Mexico City supplies API pumping systems to markets in Latin America. “This strategic ITT alliance demonstrates our growing commitment to supporting the world oil and gas market and the offshore industry, in particular,” said Aris Chicles, president of ITT’s Industrial Process business. “The Mexican offshore market is growing rapidly and this alliance will allow us to enhance our presence and bring our customers additional support and services through a onestop solution for offshore platforms.” For further information, visit www.itt.com, www.ctreat.com and www.gouldspumps.com
Dividends UÊ Cantel Medical Corp’s board of directors has approved a 20% increase in its semiannual cash dividend from US$0.05 to US$0.06 per outstanding share of the company’s common stock. The dividend is payable on 29 January 2016 to shareholders of record on 15 January 2016. The increased dividend will raise Cantel Medical’s annual dividend payment from US$0.10 to US$0.12 per share. Charles Diker, chairman of the Cantel Medical board, said: “The 20% increase in our dividend demonstrates Cantel’s strong financial position and our confidence in Cantel’s future performance.” www.cantelmedical.com UÊ Clarcor Inc is increasing the company’s regular quarterly dividend by 10%, from US$0.20 to US$0.22 per share of common stock. The company paid the new US$0.22 per share dividend to shareholders on 23 October 2015. Clarcor has increased its dividends every year since 1983. www.clarcor.com UÊ / iÊCummins Inc board has declared a quarterly common stock cash dividend of US$0.975 per share which will be payable on 1 December 2015, to shareholders of record on 20 November 2015. www.cummins.com UÊ Xylem Inc will pay a fourth quarter dividend of US$0.1408 per share on 2 December 2015 to shareholders of record on 4 November 2015. www.xylem.com UÊ / iÊ Schlumberger Ltd board has announced a quarterly dividend of US$0.50 per share of outstanding common stock. The dividend is payable on 8 January 2016 to stockholders of record on 2 December 2015. www.slb.com UÊ ITT Corp’s fourth-quarter cash dividend of US$0.1183 per share on the company’s outstanding stock will be payable on 31 December 2015, to shareholders of record on 11 December 2015. www.itt.com UÊ / iÊ Ài}Õ>ÀÊ Pentair plc quarterly cash dividend of US$0.32 per share will be paid on 6 November 2015 to shareholders of record on 23 October 2015. Pentair is paying an annual cash dividend of US$1.28 per share, up from US$1.10 per share in 2014. The company has increased its dividend for 39 consecutive years. www.pentair.com
Filtration Industry Analyst
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