- Email: [email protected]
Pursuit rejects exclusivity request
STRONG Q1 BOOKINGS FOR FLOWSERVE Flowserve says that preliminary results for the first quarter show stronger bookings and backlog in each of its three business segments compared with the year-ago period coupled with continued good cash flow. “We are seeing continued strong activity in our upstream petroleum-related business and improved activity in our refinery-, chemical-, and partsrelated businesses,” said Flowserve CEO Scott Greer. Due to the length of time needed to complete its 2003 financial statements, Flowserve now expects to report first quarter 2004 results in May instead of April.
HI, DOE TEAM UP FOR PUMP TRAINING The Hydraulic Institute (HI) is offering its members - and other interested parties a chance to earn recognition as a qualified pump system specialist by participating in the HI and US Department of Energy’s (DOE) Pumping System Assessment Tool (PSAT) Qualification Workshop. PSAT was developed by DOE with HI support to assist engineers and facility operators in conducting preliminary assessments of how efficiently their pumping systems operate. HI and the DOE are holding the qualification workshops on 23–24 June, preceding HI’s Spring Technical Meeting in Indianapolis, Indiana, and on 20–21 October, preceding its Fall Technical Meeting in Charlotte, North Carolina. “In most settings, pumps, fans, compressed air and refrigeration devices account for nearly 37% of the industrial motor population, while they account for 61% of industrial
Pump Industry Analyst
motor energy,” noted Robert Asdal, executive director of HI. “Through this training, we hope to have many more HI members become “Qualified Specialists” so that they can support pump users in evaluating their facilities to address opportunities for energy savings and pump system optimization. Some of the top graduates from this program will be invited to become PSAT Qualified Instructors and, hopefully, go on to train larger audiences of industry end-users to address pump systems issues in their plants and facilities. The savings opportunities are very significant.”
PURSUIT REJECTS EXCLUSIVITY REQUEST Pursuit Dynamics plc has declined a request from a major soft drinks and confectionery manufacturer to extend the period of exclusivity between the two companies in certain areas (see Pump Industry Analyst, March 2004). Pursuit Dynamics directors expect talks to continue on a non-exclusive basis, and the company is therefore now free to enter commercial negotiations with other significant interested parties. “We believe that the commercial costs to us of further extensions of this exclusivity period outweigh the benefits,” said John Heathcote, Pursuit Dynamics’ CEO. As a company, Pursuit Dynamics continues to expand and develop. Pursuit Food Processing Ltd was formed in February 2004 to accelerate the commercialization of food process applications; a US representative office has just opened in Darien, Connecticut; while Pursuit Fire Ltd has been formed to advance the commercialization of the company’s water mist technology.
IN BRIEF • Construction work has started on Cardo Pump’s new production facility in Vadstena, Sweden. The current pump production in Mölndal and Vadstena will move to the new manufacturing unit during the first half of 2005 (see Pump Industry Analyst, November 2003). • In the UK, Grundfos has launched an incentive scheme to reduce the environmental impact of its staff commuting to and from work. The initiative offers a daily cash incentive to staff who choose to walk or cycle to work. Car sharing is encouraged by offering a per mile reimbursement, while public transport users receive an 80% reimbursement of their fare. • Pentair Inc has retained public relations firm Carmichael Lynch Spong (CLS) as the company expands its position in the water technologies and enclosures industries. Pentair initially hired CLS in January to help communicate the planned acquisition of Wicor Industries (see Pump Industry Analyst, February 2004). • BOC Edwards has launched a new on-line web shop for customers. The site is accessed through w w w. b o c e d wa r d s . c o m . Once registered, customers can search for products and check their account terms before ordering, and then track order status. Currently available in English only, French and German versions of the site will be available in June 2004. • John Crane’s new £300 000 service centre in Dammam, Saudi Arabia, is housed in a purpose-built extension to the premises of partner company Hamed A Al-Zamil & Brothers Co.
Financial Calendar June 2004 Ebara Shareholders' General Meeting 7 June 2004 KSB Annual General Meeting 2004 9 June 2004 Johnson Pump Annual General Meeting 16 June 2004 Pfeiffer Vacuum Annual General Meeting 24 June 2004 Gévelot SA Annual Shareholders Meeting July 2004 GUD Holdings Preliminary Results for 2003/04 15 July 2004 Sulzer Order Intake 6 Months 2004 28 July 2004 Metso Interim Review for January–June 2004 August 2004 KSB Interim Report January–June 2004 3 August 2004 Pfeiffer Vacuum Half Year Results 2004 6 August 2004 Andritz Q2 2004 Results 10 August 2004 Cardo Interim Report January–June 2004 16 August 2004 Alfa Laval Second Quarter Report 25 August 2004 Sulzer Semi-Annual Closing 2004 September 2004 Wood Group Interim Results 22 October 2004 Alfa Laval Third Quarter Report 25 October 2004 Sulzer Order Intake 9 Months 2004 28 October 2004 Metso Interim Review January–September 2004 2 November 2004 Cardo Interim Report JanuarySeptember 2004 Pfeiffer Vacuum Nine Months Results 2004 8 November 2004 Andritz Q3 2004 Results
13
NEWS/IN BRIEF/CALENDAR
May 2004
HI, DOE TEAM UP FOR PUMP TRAINING The Hydraulic Institute (HI) is offering its members - and other interested parties a chance to earn recognition as a qualified pump system specialist by participating in the HI and US Department of Energy’s (DOE) Pumping System Assessment Tool (PSAT) Qualification Workshop. PSAT was developed by DOE with HI support to assist engineers and facility operators in conducting preliminary assessments of how efficiently their pumping systems operate. HI and the DOE are holding the qualification workshops on 23–24 June, preceding HI’s Spring Technical Meeting in Indianapolis, Indiana, and on 20–21 October, preceding its Fall Technical Meeting in Charlotte, North Carolina. “In most settings, pumps, fans, compressed air and refrigeration devices account for nearly 37% of the industrial motor population, while they account for 61% of industrial
Pump Industry Analyst
motor energy,” noted Robert Asdal, executive director of HI. “Through this training, we hope to have many more HI members become “Qualified Specialists” so that they can support pump users in evaluating their facilities to address opportunities for energy savings and pump system optimization. Some of the top graduates from this program will be invited to become PSAT Qualified Instructors and, hopefully, go on to train larger audiences of industry end-users to address pump systems issues in their plants and facilities. The savings opportunities are very significant.”
PURSUIT REJECTS EXCLUSIVITY REQUEST Pursuit Dynamics plc has declined a request from a major soft drinks and confectionery manufacturer to extend the period of exclusivity between the two companies in certain areas (see Pump Industry Analyst, March 2004). Pursuit Dynamics directors expect talks to continue on a non-exclusive basis, and the company is therefore now free to enter commercial negotiations with other significant interested parties. “We believe that the commercial costs to us of further extensions of this exclusivity period outweigh the benefits,” said John Heathcote, Pursuit Dynamics’ CEO. As a company, Pursuit Dynamics continues to expand and develop. Pursuit Food Processing Ltd was formed in February 2004 to accelerate the commercialization of food process applications; a US representative office has just opened in Darien, Connecticut; while Pursuit Fire Ltd has been formed to advance the commercialization of the company’s water mist technology.
IN BRIEF • Construction work has started on Cardo Pump’s new production facility in Vadstena, Sweden. The current pump production in Mölndal and Vadstena will move to the new manufacturing unit during the first half of 2005 (see Pump Industry Analyst, November 2003). • In the UK, Grundfos has launched an incentive scheme to reduce the environmental impact of its staff commuting to and from work. The initiative offers a daily cash incentive to staff who choose to walk or cycle to work. Car sharing is encouraged by offering a per mile reimbursement, while public transport users receive an 80% reimbursement of their fare. • Pentair Inc has retained public relations firm Carmichael Lynch Spong (CLS) as the company expands its position in the water technologies and enclosures industries. Pentair initially hired CLS in January to help communicate the planned acquisition of Wicor Industries (see Pump Industry Analyst, February 2004). • BOC Edwards has launched a new on-line web shop for customers. The site is accessed through w w w. b o c e d wa r d s . c o m . Once registered, customers can search for products and check their account terms before ordering, and then track order status. Currently available in English only, French and German versions of the site will be available in June 2004. • John Crane’s new £300 000 service centre in Dammam, Saudi Arabia, is housed in a purpose-built extension to the premises of partner company Hamed A Al-Zamil & Brothers Co.
Financial Calendar June 2004 Ebara Shareholders' General Meeting 7 June 2004 KSB Annual General Meeting 2004 9 June 2004 Johnson Pump Annual General Meeting 16 June 2004 Pfeiffer Vacuum Annual General Meeting 24 June 2004 Gévelot SA Annual Shareholders Meeting July 2004 GUD Holdings Preliminary Results for 2003/04 15 July 2004 Sulzer Order Intake 6 Months 2004 28 July 2004 Metso Interim Review for January–June 2004 August 2004 KSB Interim Report January–June 2004 3 August 2004 Pfeiffer Vacuum Half Year Results 2004 6 August 2004 Andritz Q2 2004 Results 10 August 2004 Cardo Interim Report January–June 2004 16 August 2004 Alfa Laval Second Quarter Report 25 August 2004 Sulzer Semi-Annual Closing 2004 September 2004 Wood Group Interim Results 22 October 2004 Alfa Laval Third Quarter Report 25 October 2004 Sulzer Order Intake 9 Months 2004 28 October 2004 Metso Interim Review January–September 2004 2 November 2004 Cardo Interim Report JanuarySeptember 2004 Pfeiffer Vacuum Nine Months Results 2004 8 November 2004 Andritz Q3 2004 Results
13
NEWS/IN BRIEF/CALENDAR
May 2004