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PMFG and EEC form alliance
May 2000
P M F G AND EEC F O R M ALLIANCE Peerless Manufacturing Co (PMFG) and Environmental Elements Corp (EEC) have announced a cooperative marketing alliance.
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PMFG is a provider of Selective Catalytic Reduction (SCR) and ammonia delivery systems with over 140 installations. EEC has the only patented and commercially available technology for on-site urea based ammonia generation systems known as AmmoniaOn-Demand (AOD). The purpose of the alliance is to jointly market SCR, AOD and other more traditional ammonia storage and delivery systems. Both companies feel that the strength of this alliance will be the unique technology and strong position and reputation that each company currently enjoys in its respective core markets. EEC has a leading position with its current air pollution control technologies in the fossil fuel based power generation market. PMFG is recognized for its NO x related technologies for the rapidly expanding gas turbine market and ammonia supply systems in the fossil fuel based power generation market. The overall market for the collective product lines to be offered by the alliance is expected to further their growth with the market, possibly exceeding US$100 million per year for these combined technologies.
BHA A N N O U N C E S HEPA AGREEMENT BHA Group Holdings Inc has announced that its subsidiary, BHA Technologies Inc, has entered into a multiyear agreement to supply High Efficiency Particulate Air (HEPA) rated filtration products to a major North American manufacturer. The HEPA filters supplied by BHA Technologies will be
Filtration Industry Analyst
used in consumer-related products. The agreement between the parties denotes the pricing and estimated quantities of the first generation of product to be supplied under the agreement that extends through January of 2003. President and chief executive officer of BHA Group Holdings Inc, James Lund said, "This agreement to supply HEPA filtration products is an exciting part of BHA Technologies' efforts to secure business outside of our traditional air pollution control markets. The estimated volume of HEPA filter elements to be provided under the agreement is a positive sign that this business will be able to establish meaningful positions in the new markets it is pursuing. BHA Technologies expects to find new opportunities like this one in a wide variety of industrial and consumer applications."
SARTORIUS ACHIEVES RECORD EARNINGS According to the first overview of the earnings in the fiscal year 1999, Sartorius Corp has achieved operating profits of over DM34 million. This represents a growth of around 13% against the value of the preceding year of DM30.2 million. Profit before tax increased by above 25% to over DM35 million. The earnings before interest and taxes (EBIT) improved by around 19% to over DM35 million, the earnings before interest, taxes, depreciation and amortization (EBITDA) also grew by around 19% to DM60 million. Sartorius' turnover in 1999 increased by DM43.9 million to DM523.5 million. This represents an increase against the preceding year by 9.2%. The turnover of the Separation Technology Division grew by 12.8%, the turnover of the Weighing Technology Division increased by 7.7%. The turn-
over of the Hydrodynamic Bearings Division fell by 9.8%. The balance sheet structure of Sartorius is presently extremely robust. The corporate equity ratio was above 58% as of 31 December 1999. These numbers still require official endorsement and examination by the advisory board and the auditors. The earnings and turnover of Sartorius were better in the fourth quarter of 1999 than the comparative values of the fourth quarter of 1998 and were also significantly better than the respective earnings of the three preceding quarters of the fiscal year 1999. This confirms the trend of continuous improvement of the earnings during the year. This trend has continued into 2000. The turnover and the order intake were well above the planned figures in January 2000 and also significantly higher than in January 1999. Against the background of this economic vitality and with new products and further measures to improve the operating performance, the management expects that the earnings of the fiscal year 2000 will be higher than those of 1999.
SEC MOVES EFP'S SHARES Emergency Filtration Products Inc (EFP) says that as a result of reaching the Securities and Exchange Commission's (SEC) No Comment period regarding its Form 10SB filing, trading of the company's shares has been moved back to the Over the Counter Bulletin Board. The National Association of Securities Dealers (NASD) approved the company's shares for trading on the bulletin board as of 15 March 2000. The move will make EFP shares more accessible and improve the speed and accuracy of trading information.
IN BRIEF • Wisconsin Energy Corp and Wicor Inc have received notification from the US Federal Trade Commission (FFC) that it has closed its investigation into the proposed acquisition of Wicor by Wisconsin Energy. Both companies are moving ahead to complete regulatory reviews and currently expect to complete the transaction early this month Wisconsin Energy and Wicor announced the proposed transaction on 28 June 1999. • Triad Innovation is launching a Pilot Module Test Programme for its Advanced Centrifugal Separation Technology (ACST). The company's chief executive officer James LaPorte says that the decision to proceed has been triggered by a number of factors, including the positive results that have been achieved in the preliminary feasibility studies in air/particulate separations and the significant commercial potential for such a process. • Pentair Inc's equipment businesses - - DeVilbiss Air Power Co (DAPC), Jackson, TN, and Century Manufacturing, Bloomington, MN, have been named recipients of the Sears' 1999 Partners in Progress Award. This is the ninth time that DAPC has won the Partners in Progress award; Century has won the award four times. • The board of directors of
Cummins Engine Co Inc has declared a quarterly common stock cash dividend of US$0.30 per share. This is payable on 15 June 2000 to shareholders of record on 1 June 2000. • Esco Electronics Corp has acquired Eaton's space products business, which manufactures specialty valves and other fluid flow components for satellite launch vehicles.
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P M F G AND EEC F O R M ALLIANCE Peerless Manufacturing Co (PMFG) and Environmental Elements Corp (EEC) have announced a cooperative marketing alliance.
i
PMFG is a provider of Selective Catalytic Reduction (SCR) and ammonia delivery systems with over 140 installations. EEC has the only patented and commercially available technology for on-site urea based ammonia generation systems known as AmmoniaOn-Demand (AOD). The purpose of the alliance is to jointly market SCR, AOD and other more traditional ammonia storage and delivery systems. Both companies feel that the strength of this alliance will be the unique technology and strong position and reputation that each company currently enjoys in its respective core markets. EEC has a leading position with its current air pollution control technologies in the fossil fuel based power generation market. PMFG is recognized for its NO x related technologies for the rapidly expanding gas turbine market and ammonia supply systems in the fossil fuel based power generation market. The overall market for the collective product lines to be offered by the alliance is expected to further their growth with the market, possibly exceeding US$100 million per year for these combined technologies.
BHA A N N O U N C E S HEPA AGREEMENT BHA Group Holdings Inc has announced that its subsidiary, BHA Technologies Inc, has entered into a multiyear agreement to supply High Efficiency Particulate Air (HEPA) rated filtration products to a major North American manufacturer. The HEPA filters supplied by BHA Technologies will be
Filtration Industry Analyst
used in consumer-related products. The agreement between the parties denotes the pricing and estimated quantities of the first generation of product to be supplied under the agreement that extends through January of 2003. President and chief executive officer of BHA Group Holdings Inc, James Lund said, "This agreement to supply HEPA filtration products is an exciting part of BHA Technologies' efforts to secure business outside of our traditional air pollution control markets. The estimated volume of HEPA filter elements to be provided under the agreement is a positive sign that this business will be able to establish meaningful positions in the new markets it is pursuing. BHA Technologies expects to find new opportunities like this one in a wide variety of industrial and consumer applications."
SARTORIUS ACHIEVES RECORD EARNINGS According to the first overview of the earnings in the fiscal year 1999, Sartorius Corp has achieved operating profits of over DM34 million. This represents a growth of around 13% against the value of the preceding year of DM30.2 million. Profit before tax increased by above 25% to over DM35 million. The earnings before interest and taxes (EBIT) improved by around 19% to over DM35 million, the earnings before interest, taxes, depreciation and amortization (EBITDA) also grew by around 19% to DM60 million. Sartorius' turnover in 1999 increased by DM43.9 million to DM523.5 million. This represents an increase against the preceding year by 9.2%. The turnover of the Separation Technology Division grew by 12.8%, the turnover of the Weighing Technology Division increased by 7.7%. The turn-
over of the Hydrodynamic Bearings Division fell by 9.8%. The balance sheet structure of Sartorius is presently extremely robust. The corporate equity ratio was above 58% as of 31 December 1999. These numbers still require official endorsement and examination by the advisory board and the auditors. The earnings and turnover of Sartorius were better in the fourth quarter of 1999 than the comparative values of the fourth quarter of 1998 and were also significantly better than the respective earnings of the three preceding quarters of the fiscal year 1999. This confirms the trend of continuous improvement of the earnings during the year. This trend has continued into 2000. The turnover and the order intake were well above the planned figures in January 2000 and also significantly higher than in January 1999. Against the background of this economic vitality and with new products and further measures to improve the operating performance, the management expects that the earnings of the fiscal year 2000 will be higher than those of 1999.
SEC MOVES EFP'S SHARES Emergency Filtration Products Inc (EFP) says that as a result of reaching the Securities and Exchange Commission's (SEC) No Comment period regarding its Form 10SB filing, trading of the company's shares has been moved back to the Over the Counter Bulletin Board. The National Association of Securities Dealers (NASD) approved the company's shares for trading on the bulletin board as of 15 March 2000. The move will make EFP shares more accessible and improve the speed and accuracy of trading information.
IN BRIEF • Wisconsin Energy Corp and Wicor Inc have received notification from the US Federal Trade Commission (FFC) that it has closed its investigation into the proposed acquisition of Wicor by Wisconsin Energy. Both companies are moving ahead to complete regulatory reviews and currently expect to complete the transaction early this month Wisconsin Energy and Wicor announced the proposed transaction on 28 June 1999. • Triad Innovation is launching a Pilot Module Test Programme for its Advanced Centrifugal Separation Technology (ACST). The company's chief executive officer James LaPorte says that the decision to proceed has been triggered by a number of factors, including the positive results that have been achieved in the preliminary feasibility studies in air/particulate separations and the significant commercial potential for such a process. • Pentair Inc's equipment businesses - - DeVilbiss Air Power Co (DAPC), Jackson, TN, and Century Manufacturing, Bloomington, MN, have been named recipients of the Sears' 1999 Partners in Progress Award. This is the ninth time that DAPC has won the Partners in Progress award; Century has won the award four times. • The board of directors of
Cummins Engine Co Inc has declared a quarterly common stock cash dividend of US$0.30 per share. This is payable on 15 June 2000 to shareholders of record on 1 June 2000. • Esco Electronics Corp has acquired Eaton's space products business, which manufactures specialty valves and other fluid flow components for satellite launch vehicles.
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