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Porvair: 2017 revenues up 6%
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Porvair: 2017 revenues up 6%
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orvair plc, the filtration and environmental technologies specialist, says that revenue growth was 6% for the year ended 30 November 2017 and that full year earnings are expected to be ahead of management’s expectations. In a trading update, Porvair said that group underlying revenue growth for the year was 11%, with 13% in the Microfiltration division and 1% in the Metals Filtration division. Net cash at 30 November 2017 was £9.7 million, down from 2016’s £13.6 million, after capital and acquisition expenditure of around £11 million. The company, which will announce its preliminary results for the year ended 30 November 2017 on 29 January 2018, says that group order books for the start of the 2018 financial year are healthy. Porvair will have a new management and reporting structure from 2018, with three new divisions, serving distinct markets: Aerospace & Industrial; Laboratory; and Molten Metals. The new Laboratory division, which will focus on filtration and sample preparation products, has recently acquired Rohasys BV, a Dutch robotic sample handling company.
For further information, visit www.porvair.co.uk and www.rohasys.com
Huber expands in India through JV
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ermany’s Huber SE has signed a joint venture agreement with India’s ATE Group.
December 2017
Huber has a 30% minority interest in the new ATE Huber Envirotech Private Ltd joint venture company which will manufacture Huber products in India, through ATE’s plants in Vasai, Maharashtra, and serve the Indian and Bangladeshi markets. Georg Huber, CEO of Huber SE, said: “Through this partnership, Huber brings in its technologies in the fields of solid liquid separation, membrane filtration and sludge management with an installed base of 40 000 installations.” “As India is building its infrastructure and industry, we need new approaches and products for wastewater management,” said Anuj Bhagwati, head of ATE Group. “This joint venture will serve India and Bangladesh with products from Huber and cater to industrial wastewater treatment projects in major international markets, leveraging their network. We have had a partnership for five years and now the JV will strengthen our presence.” For further information, visit www.huber.de and www. ategroup.com
Grundfos partners with Novozymes for clean water
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rundfos and the Danish biotechnology company Novozymes have entered into an open innovation collaboration to find new solutions to the world’s water challenges. The partnership takes place on HelloScience.io, an online platform launched by Novozymes in September 2017 where entrepreneurs, startups and others can connect with industry. Four specific challenges will be posted online, allowing the HelloScience community to pitch their ideas on how to secure clean water for more people. Novozymes and Grundfos are looking for solutions to remove polluting chemicals from water and improve the cleaning of
Dividends • Pentair plc’s board of directors has approved a 1% increase in the company’s regular cash dividend rate from US$0.345 per share to US$0.35 per share. The company will pay its next cash dividend of US$0.35 per share on 9 February 2018 to shareholders of record at the close of business on 26 January 2018. 2018 will mark the 42nd consecutive year that Pentair has increased its dividend. www.pentair.com • Graco Inc has declared a regular quarterly dividend of US$0.3975 per common share, an increase of 10.4%, payable on 7 February 2018, to shareholders of record on 22 January 2018. With the 3-for-1 split of the company’s common stock on 27 December 2017, the dividend will be US$0.1325 per post-split share (see In Brief, page 4). www.graco.com • Irrigation systems and infrastructure products provider Lindsay Corp will pay a regular quarterly cash dividend of US$0.30 per share on 28 February 2018, to shareholders of record on 14 February 2018. www.lindsay.com • Esco Technologies Inc’s next quarterly cash dividend of US$0.08 per share will be paid on 19 January 2018 to stockholders of record on 4 January 2018. www.escotechnologies.com • Filter media company Neenah Paper Inc has announced an 11% increase in the cash dividend on the company’s common stock. The quarterly dividend will increase from US$0.37 per share to US$0.41 (US$1.64 per share on an annual basis) with the first payment at the new rate beginning in the first quarter of 2018. Neenah Paper Inc is changing its corporate name to Neenah Inc effective 1 January 2018 (see News, page14). The company’s ticker symbol on the New York Stock Exchange will remain “NP” and the names of subsidiaries will not be affected. www.neenah.com
Filtration Industry Analyst
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Porvair: 2017 revenues up 6%
P
orvair plc, the filtration and environmental technologies specialist, says that revenue growth was 6% for the year ended 30 November 2017 and that full year earnings are expected to be ahead of management’s expectations. In a trading update, Porvair said that group underlying revenue growth for the year was 11%, with 13% in the Microfiltration division and 1% in the Metals Filtration division. Net cash at 30 November 2017 was £9.7 million, down from 2016’s £13.6 million, after capital and acquisition expenditure of around £11 million. The company, which will announce its preliminary results for the year ended 30 November 2017 on 29 January 2018, says that group order books for the start of the 2018 financial year are healthy. Porvair will have a new management and reporting structure from 2018, with three new divisions, serving distinct markets: Aerospace & Industrial; Laboratory; and Molten Metals. The new Laboratory division, which will focus on filtration and sample preparation products, has recently acquired Rohasys BV, a Dutch robotic sample handling company.
For further information, visit www.porvair.co.uk and www.rohasys.com
Huber expands in India through JV
G
ermany’s Huber SE has signed a joint venture agreement with India’s ATE Group.
December 2017
Huber has a 30% minority interest in the new ATE Huber Envirotech Private Ltd joint venture company which will manufacture Huber products in India, through ATE’s plants in Vasai, Maharashtra, and serve the Indian and Bangladeshi markets. Georg Huber, CEO of Huber SE, said: “Through this partnership, Huber brings in its technologies in the fields of solid liquid separation, membrane filtration and sludge management with an installed base of 40 000 installations.” “As India is building its infrastructure and industry, we need new approaches and products for wastewater management,” said Anuj Bhagwati, head of ATE Group. “This joint venture will serve India and Bangladesh with products from Huber and cater to industrial wastewater treatment projects in major international markets, leveraging their network. We have had a partnership for five years and now the JV will strengthen our presence.” For further information, visit www.huber.de and www. ategroup.com
Grundfos partners with Novozymes for clean water
G
rundfos and the Danish biotechnology company Novozymes have entered into an open innovation collaboration to find new solutions to the world’s water challenges. The partnership takes place on HelloScience.io, an online platform launched by Novozymes in September 2017 where entrepreneurs, startups and others can connect with industry. Four specific challenges will be posted online, allowing the HelloScience community to pitch their ideas on how to secure clean water for more people. Novozymes and Grundfos are looking for solutions to remove polluting chemicals from water and improve the cleaning of
Dividends • Pentair plc’s board of directors has approved a 1% increase in the company’s regular cash dividend rate from US$0.345 per share to US$0.35 per share. The company will pay its next cash dividend of US$0.35 per share on 9 February 2018 to shareholders of record at the close of business on 26 January 2018. 2018 will mark the 42nd consecutive year that Pentair has increased its dividend. www.pentair.com • Graco Inc has declared a regular quarterly dividend of US$0.3975 per common share, an increase of 10.4%, payable on 7 February 2018, to shareholders of record on 22 January 2018. With the 3-for-1 split of the company’s common stock on 27 December 2017, the dividend will be US$0.1325 per post-split share (see In Brief, page 4). www.graco.com • Irrigation systems and infrastructure products provider Lindsay Corp will pay a regular quarterly cash dividend of US$0.30 per share on 28 February 2018, to shareholders of record on 14 February 2018. www.lindsay.com • Esco Technologies Inc’s next quarterly cash dividend of US$0.08 per share will be paid on 19 January 2018 to stockholders of record on 4 January 2018. www.escotechnologies.com • Filter media company Neenah Paper Inc has announced an 11% increase in the cash dividend on the company’s common stock. The quarterly dividend will increase from US$0.37 per share to US$0.41 (US$1.64 per share on an annual basis) with the first payment at the new rate beginning in the first quarter of 2018. Neenah Paper Inc is changing its corporate name to Neenah Inc effective 1 January 2018 (see News, page14). The company’s ticker symbol on the New York Stock Exchange will remain “NP” and the names of subsidiaries will not be affected. www.neenah.com
Filtration Industry Analyst
3