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Parker Hannifin celebrates 100th anniversary
NEWS/DIVIDENDS Less than three years after Donaldson launched the Downflo Evolution dust collector, a metal fabricator in California has officially ordered the 1000th unit. “We set out to meet our customers’ demands for effective filtration with a lower cost of ownership,” said John Woolever, Market Specialist Manager at Donaldson. “With advanced airflow management, breakthrough cleaning, and an innovative new filter design, the Downflo Evolution collector delivers better air circulation, fewer filters, and easier maintenance. Our customers have loved the new design and have gotten on board.” Donaldson says that the collector’s smaller footprint and reduced energy consumption have helped drive demand within the metal fabrication, pharmaceutical, mining, grain food, and bulk powder handling industries. “Customer feedback was incorporated into each phase of development,” said Woolever. “So selling the 1000th collector is a true affirmation of how listening to your customers pays dividends. We will continue to evolve the DFE as our customers’ needs change.” Donaldson’s Downflo Evolution collectors are being installed at a rate of approximately 450 per year throughout the Americas, Asia Pacific, Europe, Middle East and North Africa regions. For further information, visit www.donaldson.com and www.donaldsontorit.com
Parker Hannifin celebrates 100th anniversary
P
arker Hannifin Corp has celebrated the 100th anniversary of its founding on 13 March 1917. The Parker Appliance Company, a manufacturer of pneumatic brake systems and leak-free fittings, was founded by Arthur L Parker and developed in the early years with his business partner Carl Klamm in a small loft in Cleveland, Ohio. The first patent issued in Arthur Parker’s name details a hydraulic device which regulates the speed of electric generators. In the 100 years since, the company has been granted more than 8000 patents in a wide range of diversified industrial and aerospace markets, including life sciences, oil and gas, construction and agriculture. “This year we honour the past and the great achievements that have come before us, and celebrate the people, culture and values that have made Parker the company it is
March 2017
today,” said Tom Williams, Parker Hannifin chairman and CEO. “Our remarkable team members are the foundation of Parker’s success, and they will continue to drive the company’s growth as we look ahead to a promising future over the next 100 years.” Parker Hannifin is planning to celebrate its centennial milestone through a series of events throughout the year to honour its team members, customers, shareholders and communities. This will include localized company birthday parties, a commemorative book detailing Parker Hannifin’s first century, a travelling display featuring company memorabilia and products and community service initiatives. For further information, visit www.parker.com and www.parker.com/centennial
Sales and profits grow at Grundfos
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strong second half of the year helped Grundfos achieve organic growth of 0.5% in 2016, measured in local currencies and net of divestments. While Grundfos’s 2016 net turnover slipped 0.5% to DKK24.7 billion, earnings before interest and tax (EBIT) increased approximately DKK200 million to DKK2.2 billion in 2016. When adjusted for nonperformance related items in 2015 and 2016, performance EBIT increased 25% on 2015. “Going into 2016, one of our top priorities was to continue the financial turnaround. With 25% increase in underlying EBIT, we are satisfied with the results we have achieved,” said Grundfos Group president and CEO Mads Nipper. “It is estimated that the global pump market served by Grundfos stayed flat in 2016. Our modest full-year sales growth therefore means that we have bolstered our position as the globally leading pump solutions provider. After a challenging first half of 2016, we are particularly happy that sales regained momentum in the second half of 2016.” Grundfos saw full year growth in Germany, China, the UK and a number of other European and Asian markets. However, Russia and the Greater Middle East continued to experience low activity levels driven by reduced oil prices and financial uncertainty. The US market showed a decline in sales on the back of strong growth in 2015.
Dividends • The Ahlstrom Corp board of directors has resolved on the payment of a dividend of E0.49 per outstanding share, representing approximately E23 million in total. The dividend is being paid on 27 March 2017, prior to the completion of the merger between Ahlstrom and Munksjö Oyj, which is expected to take place on or about 1 April 2017. www.ahlstrom.com • Ceco Environmental Corp’s board has approved a quarterly dividend of US$0.075 per share, an increase of 13.6% over the previous quarter. The dividend will be paid on 31 March 2017. www.cecoenviro.com • Metso Corp’s recent Annual General Meeting (AGM) decided on a dividend of E1.05 per share for the financial year ended 31 December 2016. It will be paid on 4 April 2017. www.metso.com • GE will pay a US$0.24 per share dividend on the outstanding stock of the company on 25 April 2017. www.ge.com • At Indutrade AB’s AGM on 20 April 2017, the board will propose a dividend of SEK3.20 per share. The dividend is expected to be distributed on 4 May 2017. www.indutrade.com • ITT Inc is increasing its quarterly dividend to US$0.128 per share on the company’s outstanding stock. The ITT board has approved the cash dividend for the first quarter of 2017, which will be payable on 3 April 2017, to shareholders of record on 13 March 2017. www.itt.com • Lanxess AG’s board of management and the supervisory board will be proposing to the Annual Stockholders’ Meeting on 26 May 2017, that the company’s dividend should be increased by 17% on the prior year to E0.70. This would result in a total dividend payout of around E64 million. www.lanxess.com • The Hyflux Ltd board has proposed a final dividend of S$0.0025 per ordinary share. Together with an interim dividend of S$0.002 per ordinary share paid in September 2016, this brings the total dividend for 2016 to S$0.0045 per ordinary share. www.hyflux.com
For further information, visit www.grundfos.com
Filtration Industry Analyst
5
Parker Hannifin celebrates 100th anniversary
P
arker Hannifin Corp has celebrated the 100th anniversary of its founding on 13 March 1917. The Parker Appliance Company, a manufacturer of pneumatic brake systems and leak-free fittings, was founded by Arthur L Parker and developed in the early years with his business partner Carl Klamm in a small loft in Cleveland, Ohio. The first patent issued in Arthur Parker’s name details a hydraulic device which regulates the speed of electric generators. In the 100 years since, the company has been granted more than 8000 patents in a wide range of diversified industrial and aerospace markets, including life sciences, oil and gas, construction and agriculture. “This year we honour the past and the great achievements that have come before us, and celebrate the people, culture and values that have made Parker the company it is
March 2017
today,” said Tom Williams, Parker Hannifin chairman and CEO. “Our remarkable team members are the foundation of Parker’s success, and they will continue to drive the company’s growth as we look ahead to a promising future over the next 100 years.” Parker Hannifin is planning to celebrate its centennial milestone through a series of events throughout the year to honour its team members, customers, shareholders and communities. This will include localized company birthday parties, a commemorative book detailing Parker Hannifin’s first century, a travelling display featuring company memorabilia and products and community service initiatives. For further information, visit www.parker.com and www.parker.com/centennial
Sales and profits grow at Grundfos
A
strong second half of the year helped Grundfos achieve organic growth of 0.5% in 2016, measured in local currencies and net of divestments. While Grundfos’s 2016 net turnover slipped 0.5% to DKK24.7 billion, earnings before interest and tax (EBIT) increased approximately DKK200 million to DKK2.2 billion in 2016. When adjusted for nonperformance related items in 2015 and 2016, performance EBIT increased 25% on 2015. “Going into 2016, one of our top priorities was to continue the financial turnaround. With 25% increase in underlying EBIT, we are satisfied with the results we have achieved,” said Grundfos Group president and CEO Mads Nipper. “It is estimated that the global pump market served by Grundfos stayed flat in 2016. Our modest full-year sales growth therefore means that we have bolstered our position as the globally leading pump solutions provider. After a challenging first half of 2016, we are particularly happy that sales regained momentum in the second half of 2016.” Grundfos saw full year growth in Germany, China, the UK and a number of other European and Asian markets. However, Russia and the Greater Middle East continued to experience low activity levels driven by reduced oil prices and financial uncertainty. The US market showed a decline in sales on the back of strong growth in 2015.
Dividends • The Ahlstrom Corp board of directors has resolved on the payment of a dividend of E0.49 per outstanding share, representing approximately E23 million in total. The dividend is being paid on 27 March 2017, prior to the completion of the merger between Ahlstrom and Munksjö Oyj, which is expected to take place on or about 1 April 2017. www.ahlstrom.com • Ceco Environmental Corp’s board has approved a quarterly dividend of US$0.075 per share, an increase of 13.6% over the previous quarter. The dividend will be paid on 31 March 2017. www.cecoenviro.com • Metso Corp’s recent Annual General Meeting (AGM) decided on a dividend of E1.05 per share for the financial year ended 31 December 2016. It will be paid on 4 April 2017. www.metso.com • GE will pay a US$0.24 per share dividend on the outstanding stock of the company on 25 April 2017. www.ge.com • At Indutrade AB’s AGM on 20 April 2017, the board will propose a dividend of SEK3.20 per share. The dividend is expected to be distributed on 4 May 2017. www.indutrade.com • ITT Inc is increasing its quarterly dividend to US$0.128 per share on the company’s outstanding stock. The ITT board has approved the cash dividend for the first quarter of 2017, which will be payable on 3 April 2017, to shareholders of record on 13 March 2017. www.itt.com • Lanxess AG’s board of management and the supervisory board will be proposing to the Annual Stockholders’ Meeting on 26 May 2017, that the company’s dividend should be increased by 17% on the prior year to E0.70. This would result in a total dividend payout of around E64 million. www.lanxess.com • The Hyflux Ltd board has proposed a final dividend of S$0.0025 per ordinary share. Together with an interim dividend of S$0.002 per ordinary share paid in September 2016, this brings the total dividend for 2016 to S$0.0045 per ordinary share. www.hyflux.com
For further information, visit www.grundfos.com
Filtration Industry Analyst
5