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Polypore IPO raises US$285mn
NEWS/IN BRIEF Reactivated carbon performance can be measured with ASTM (American Society for Testing and Materials) and AWWA (American Water Works Association) standard test methods to measure properties such as iodine/butane number, abrasion/hardness number, particle size distribution (mesh size), apparent density and moisture content. An increase of more than 70% in the cost of virgin carbon is due to a tariff by the US Department of Commerce on imports of activated carbon from China. For further information, visit www.water.siemens.com
Polypore IPO raises US$285mn
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olypore International Inc has raised US$285 million in an initial public offering (IPO) at US$19 per share. Polypore’s stock began trading on the New York Stock Exchange under the symbol “PPO” on 28 June 2007. The 15 million-share offering had a forecast range of US$20–22 per share. Polypore is a global high technology filtration company specializing in microporous membranes. Polypore’s flat sheet and hollow fiber membranes are used in specialized applications that require the removal or separation of various materials from liquids, primarily in the ultrafiltration and microfiltration markets. For further information, visit www.polypore.net
Whatman’s Chinese JV starts trading
H
angzhou Whatman-Xinhua Filter Paper Co Ltd, the joint venture (JV) between Whatman plc and Hangzhou Xinhua Paper Industry Co Ltd, has started trading (see Filtration Industry Analyst, January 2007).
July 2007
The JV company is constructing a purpose-built manufacturing facility in the Zhejiang Hangzhou Tonglu Economic Development Zone, in South-East China, which should be completed in mid 2008. “We have spent the last six months ensuring all procedures are successfully in place and with the support of our Chinese partner we are pleased to announce the first day of trading of our joint venture. I am confident that our combined sales force, together with our broadened distribution network, will accelerate expansion in this fast growing Chinese market,” said Whatman CEO Kieran Murphy. “We have been working very closely and successfully with Whatman in obtaining all the necessary approvals and licenses in the last few months. I am delighted to see that we can start selling as one team and one company in China,” said Li Qun, president and general manager of the Xinhua Group. The JV is ownwd 75% by Whatman and 25% by Xinhua. For further information, visit www.whatman.com
Calgon Carbon to raise prices on Chinese imports
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esponding to the elimination of a value added tax (VAT) refund previously granted by the Chinese government on activated carbon exports, Calgon Carbon Corp has raised its prices globally on activated carbon products that it imports from China. “Since the Chinese Ministry of Finance’s decision to eliminate the VAT refund will result in a significant increase in our product costs on activated carbon that we import from China, we are compelled to pass on these additional costs to our customers,” said John Stanik, Calgon Carbon’s president and CEO.
For further information, visit www.calgoncarbon.com
In Brief • Amiad hosted a three days Spanish-speaking International Filtration Seminar in Santiago, Chile on 6 June 2007. The 45 participants came from Panama, Nicaragua, Peru, Argentina, Chile and Brazil. The International Filtration Seminar included visits to a number of agriculture installations in the Santiago area, to observe Amiad filtration solutions for grape crops and avocado and kiwi plantations. www.amiad.com • The Clarcor board of directors has authorised a US$250 million stock repurchase program. As a result, Clarcor may purchase shares from time to time in the open market or through privately negotiated transactions over the next three years. This authorization replaces Clarcor’s previous share repurchase authorisation which expired on 17 June 2007. www.clarcor.com • H2O Innovation (2000) Inc has closed a C$15.5 million equity financing. The proceeds of the private placement will be used to complete the acquisition of a US based wastewater equipment company and for other working capital purposes. www.h2oinnovation.com • The Porvair board has declared an unchanged interim dividend of 1.0p to be paid on 14 September 2007 to shareholders on the register at the close of business on 17 August 2007. www.porvair.com • Parker Hannifin Corp has reported a 6% increase in total orders for the month of June on a year ago. Orders increased 1% in the Industrial North America segment and 17% in the Industrial International segment. www.parkerhannifin.com • Midwesco Filter Resources Inc, part of MFRI Inc, is adding an e-commerce platform to its website from 1 August 2007. The M2M VIP enterprise portal lets Midwesco share information with customers and prospects in real-time – directly from the Made2Manage system currently in place. www.midwescofilter.com
Filtration Industry Analyst
5
Polypore IPO raises US$285mn
P
olypore International Inc has raised US$285 million in an initial public offering (IPO) at US$19 per share. Polypore’s stock began trading on the New York Stock Exchange under the symbol “PPO” on 28 June 2007. The 15 million-share offering had a forecast range of US$20–22 per share. Polypore is a global high technology filtration company specializing in microporous membranes. Polypore’s flat sheet and hollow fiber membranes are used in specialized applications that require the removal or separation of various materials from liquids, primarily in the ultrafiltration and microfiltration markets. For further information, visit www.polypore.net
Whatman’s Chinese JV starts trading
H
angzhou Whatman-Xinhua Filter Paper Co Ltd, the joint venture (JV) between Whatman plc and Hangzhou Xinhua Paper Industry Co Ltd, has started trading (see Filtration Industry Analyst, January 2007).
July 2007
The JV company is constructing a purpose-built manufacturing facility in the Zhejiang Hangzhou Tonglu Economic Development Zone, in South-East China, which should be completed in mid 2008. “We have spent the last six months ensuring all procedures are successfully in place and with the support of our Chinese partner we are pleased to announce the first day of trading of our joint venture. I am confident that our combined sales force, together with our broadened distribution network, will accelerate expansion in this fast growing Chinese market,” said Whatman CEO Kieran Murphy. “We have been working very closely and successfully with Whatman in obtaining all the necessary approvals and licenses in the last few months. I am delighted to see that we can start selling as one team and one company in China,” said Li Qun, president and general manager of the Xinhua Group. The JV is ownwd 75% by Whatman and 25% by Xinhua. For further information, visit www.whatman.com
Calgon Carbon to raise prices on Chinese imports
R
esponding to the elimination of a value added tax (VAT) refund previously granted by the Chinese government on activated carbon exports, Calgon Carbon Corp has raised its prices globally on activated carbon products that it imports from China. “Since the Chinese Ministry of Finance’s decision to eliminate the VAT refund will result in a significant increase in our product costs on activated carbon that we import from China, we are compelled to pass on these additional costs to our customers,” said John Stanik, Calgon Carbon’s president and CEO.
For further information, visit www.calgoncarbon.com
In Brief • Amiad hosted a three days Spanish-speaking International Filtration Seminar in Santiago, Chile on 6 June 2007. The 45 participants came from Panama, Nicaragua, Peru, Argentina, Chile and Brazil. The International Filtration Seminar included visits to a number of agriculture installations in the Santiago area, to observe Amiad filtration solutions for grape crops and avocado and kiwi plantations. www.amiad.com • The Clarcor board of directors has authorised a US$250 million stock repurchase program. As a result, Clarcor may purchase shares from time to time in the open market or through privately negotiated transactions over the next three years. This authorization replaces Clarcor’s previous share repurchase authorisation which expired on 17 June 2007. www.clarcor.com • H2O Innovation (2000) Inc has closed a C$15.5 million equity financing. The proceeds of the private placement will be used to complete the acquisition of a US based wastewater equipment company and for other working capital purposes. www.h2oinnovation.com • The Porvair board has declared an unchanged interim dividend of 1.0p to be paid on 14 September 2007 to shareholders on the register at the close of business on 17 August 2007. www.porvair.com • Parker Hannifin Corp has reported a 6% increase in total orders for the month of June on a year ago. Orders increased 1% in the Industrial North America segment and 17% in the Industrial International segment. www.parkerhannifin.com • Midwesco Filter Resources Inc, part of MFRI Inc, is adding an e-commerce platform to its website from 1 August 2007. The M2M VIP enterprise portal lets Midwesco share information with customers and prospects in real-time – directly from the Made2Manage system currently in place. www.midwescofilter.com
Filtration Industry Analyst
5