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Sector sell-off discouraged by low tenders
News i n v e s t m e n t by the p a r t i c i p a n t s is given in the table below...
Organisation BHR Group CETIM Neles-Jamesbury Oy Chesterton ESA ELF AFIR
Total
kECU (ECU~$O.78)
Country
166 132 105.5 90 50 50 20 613.5
UK France Finland Ireland France France
The ESA a n d AFIR (Association of F r e n c h Valve M a n u f a c t u r e r s ) will be r e s p o n s i b l e for the d i s s e m i n a t i o n of the project findings to as m u c h of the valve a n d seals i n d u s t r y , a n d as m a n y end u s e r s as possible. T h u s far the project h a s b e e n a s s i g n e d a p r o p o s a l n u m b e r , b u t a decision is n o t a n t i c i p a t e d for some time. Contact: European Sealing Association, Bowerham H o u s e , T h e Grove, L a n c a s t e r LAI 3AL, UK. Tel: + 4 4 1 5 2 4 8 4 4 2 2 2 ; Fax: + 4 4 1 5 2 4 8 4 4 2 2 2 .
BTR chief to head TI polymers TI G r o u p h a s c h o s e n the chief executive of BTR's polymer operation, Clive S t e a r n e s , 52, to r u n the p o l y m e r division of J o h n Crane. Following its a c q u i s i t i o n in late 1996, Mr S t e a r n e s faces the j o b of i n t e g r a t i n g F o r s h e d a , the Swedish s e a l s - m a k e r . The p u r c h a s e saw TI G r o u p ' s polymer b u s i n e s s a n n u a l t u r n o v e r rise to £300m. BTR's b u s i n e s s h a s sales a p p r o a c h i n g £ 4 0 0 m a year. C o n t a c t : TI Group, L a m b o u r n e Court, A b i n g d o n B u s i n e s s Park, A b i n g d o n , O x o n O X I 4 IUH, UK. Tel: + 4 4 171 4 9 9 9 1 3 1 ; Fax: + 4 4 171 4 9 3 6 5 3 3 .
Sector sell-off discouraged by low tenders C a r b o n e Lorraine officially r e p o r t s t h a t it h a s decided to i n t e r r u p t the divestiture p r o c e s s of its Sealing Division which w a s i n i t i a t e d in the b e g i n n i n g of 1996. Bids received from the m a r k e t , a l t h o u g h p e r m i t t i n g a significant c a p i t a l gain, were n o t j u d g e d compatible
2
with the level of profitability of this b u s i n e s s . Carbone Lorraine i n t e n d s to c o n t i n u e to play its role of s h a r e h o l d e r by investing in the c o m m e r c i a l a n d i n d u s t r i a l d e v e l o p m e n t of its Sealing Division as it h a s in the past. The F r e n c h o p e r a t i o n s (Cefilac), until now doing b u s i n e s s as a Division of C a r b o n e Lorraine France, will b e c o m e a wholly owned s u b s i d i a r y of C a r b o n e Lorraine in 1997. Helicoflex will r e m a i n a s u b s i d i a r y of C a r b o n e Lorraine North America. C o n t a c t : Carbone Lorraine, Cefllac E t a n c h e i t e , 9 0 R u e de la R o c h e du Geai, 4 2 0 2 9 S a i n t - E t i e n n e C e d e x , F r a n c e . Tel: + 3 3 4 7 7 4 3 5 1 0 0 ; Fax: + 3 3 4 7 7 435151.
EG&G president resigns Dr Fred B P a r k s a n n o u n c e d he h a s resigned as p r e s i d e n t a n d chief o p e r a t i n g officer of EG & G effective F r i d a y 10 J a n u a r y 1997. "Dr P a r k s h a s m a d e s u b s t a n t i a l c o n t r i b u t i o n s to the s u c c e s s of EG&G, especially the positioning of our commercial b u s i n e s s e s for the growth t h a t they are c u r r e n t l y experiencing," said J o h n M K u c h a r s k i , c h a i r m a n of the b o a r d . "The m a n a g e m e n t s t r u c t u r e effected by Dr Parks the f r s t of this y e a r will facilitate the s m o o t h t r a n s i t i o n to a new Chief O p e r a t i n g Officer." Dr P a r k s j o i n e d EG&G in 1976, a n d held several positions in technical a n d executive m a n a g e m e n t . As executive vice p r e s i d e n t a n d later as p r e s i d e n t , he h a d overall r e s p o n s i b i l i t y for the p r o d u c t s a n d services provided by EG&G b u s i n e s s s e g m e n t s . C o n t a c t : EG&G, I n c . , 4 5 W i l l i a m S t r e e t , W e l l e s l e y , MA 0 2 1 8 1 , USA. Tel: +1 6 1 7 2 3 7 5 1 0 0 ; Fax: +1 6 1 7 431 4255.
BW/IP board appoints corporate controller The b o a r d of directors of BW/IP Inc h a s elected Charles F Cargile, 32, c o r p o r a t e controller. Mr Cargile m o s t recently served as B W / I P ' s director of corporate accounting. He j o i n e d the c o m p a n y in 1992 as m a n a g e r of o p e r a t i o n s a n d financial analysis. Prior to BW/IP, Mr Cargile h a d held s e n i o r a c c o u n t i n g positions with the a c c o u n t i n g firm of Coopers & L y b r a n d a n d with ARCO. A certified public a c c o u n t a n t , he holds a M a s t e r s
Sealing Technology No. 3 7
Organisation BHR Group CETIM Neles-Jamesbury Oy Chesterton ESA ELF AFIR
Total
kECU (ECU~$O.78)
Country
166 132 105.5 90 50 50 20 613.5
UK France Finland Ireland France France
The ESA a n d AFIR (Association of F r e n c h Valve M a n u f a c t u r e r s ) will be r e s p o n s i b l e for the d i s s e m i n a t i o n of the project findings to as m u c h of the valve a n d seals i n d u s t r y , a n d as m a n y end u s e r s as possible. T h u s far the project h a s b e e n a s s i g n e d a p r o p o s a l n u m b e r , b u t a decision is n o t a n t i c i p a t e d for some time. Contact: European Sealing Association, Bowerham H o u s e , T h e Grove, L a n c a s t e r LAI 3AL, UK. Tel: + 4 4 1 5 2 4 8 4 4 2 2 2 ; Fax: + 4 4 1 5 2 4 8 4 4 2 2 2 .
BTR chief to head TI polymers TI G r o u p h a s c h o s e n the chief executive of BTR's polymer operation, Clive S t e a r n e s , 52, to r u n the p o l y m e r division of J o h n Crane. Following its a c q u i s i t i o n in late 1996, Mr S t e a r n e s faces the j o b of i n t e g r a t i n g F o r s h e d a , the Swedish s e a l s - m a k e r . The p u r c h a s e saw TI G r o u p ' s polymer b u s i n e s s a n n u a l t u r n o v e r rise to £300m. BTR's b u s i n e s s h a s sales a p p r o a c h i n g £ 4 0 0 m a year. C o n t a c t : TI Group, L a m b o u r n e Court, A b i n g d o n B u s i n e s s Park, A b i n g d o n , O x o n O X I 4 IUH, UK. Tel: + 4 4 171 4 9 9 9 1 3 1 ; Fax: + 4 4 171 4 9 3 6 5 3 3 .
Sector sell-off discouraged by low tenders C a r b o n e Lorraine officially r e p o r t s t h a t it h a s decided to i n t e r r u p t the divestiture p r o c e s s of its Sealing Division which w a s i n i t i a t e d in the b e g i n n i n g of 1996. Bids received from the m a r k e t , a l t h o u g h p e r m i t t i n g a significant c a p i t a l gain, were n o t j u d g e d compatible
2
with the level of profitability of this b u s i n e s s . Carbone Lorraine i n t e n d s to c o n t i n u e to play its role of s h a r e h o l d e r by investing in the c o m m e r c i a l a n d i n d u s t r i a l d e v e l o p m e n t of its Sealing Division as it h a s in the past. The F r e n c h o p e r a t i o n s (Cefilac), until now doing b u s i n e s s as a Division of C a r b o n e Lorraine France, will b e c o m e a wholly owned s u b s i d i a r y of C a r b o n e Lorraine in 1997. Helicoflex will r e m a i n a s u b s i d i a r y of C a r b o n e Lorraine North America. C o n t a c t : Carbone Lorraine, Cefllac E t a n c h e i t e , 9 0 R u e de la R o c h e du Geai, 4 2 0 2 9 S a i n t - E t i e n n e C e d e x , F r a n c e . Tel: + 3 3 4 7 7 4 3 5 1 0 0 ; Fax: + 3 3 4 7 7 435151.
EG&G president resigns Dr Fred B P a r k s a n n o u n c e d he h a s resigned as p r e s i d e n t a n d chief o p e r a t i n g officer of EG & G effective F r i d a y 10 J a n u a r y 1997. "Dr P a r k s h a s m a d e s u b s t a n t i a l c o n t r i b u t i o n s to the s u c c e s s of EG&G, especially the positioning of our commercial b u s i n e s s e s for the growth t h a t they are c u r r e n t l y experiencing," said J o h n M K u c h a r s k i , c h a i r m a n of the b o a r d . "The m a n a g e m e n t s t r u c t u r e effected by Dr Parks the f r s t of this y e a r will facilitate the s m o o t h t r a n s i t i o n to a new Chief O p e r a t i n g Officer." Dr P a r k s j o i n e d EG&G in 1976, a n d held several positions in technical a n d executive m a n a g e m e n t . As executive vice p r e s i d e n t a n d later as p r e s i d e n t , he h a d overall r e s p o n s i b i l i t y for the p r o d u c t s a n d services provided by EG&G b u s i n e s s s e g m e n t s . C o n t a c t : EG&G, I n c . , 4 5 W i l l i a m S t r e e t , W e l l e s l e y , MA 0 2 1 8 1 , USA. Tel: +1 6 1 7 2 3 7 5 1 0 0 ; Fax: +1 6 1 7 431 4255.
BW/IP board appoints corporate controller The b o a r d of directors of BW/IP Inc h a s elected Charles F Cargile, 32, c o r p o r a t e controller. Mr Cargile m o s t recently served as B W / I P ' s director of corporate accounting. He j o i n e d the c o m p a n y in 1992 as m a n a g e r of o p e r a t i o n s a n d financial analysis. Prior to BW/IP, Mr Cargile h a d held s e n i o r a c c o u n t i n g positions with the a c c o u n t i n g firm of Coopers & L y b r a n d a n d with ARCO. A certified public a c c o u n t a n t , he holds a M a s t e r s
Sealing Technology No. 3 7