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Senate to look at asbestos legislation
NEWS
IN BRIEF Dana receives waiver extensions Ohio-based Dana Corporation has announced that it has received a continuation and extension of waivers related to its five-year bank facility until 31 May 2006. The new waivers provide for early termination if the company is not able to deliver its restated financial statements by 30 December 2005. It expects to file these statements with the Securities and Exchange Commission prior to this date. Price of silicones increased Rhodia Silicones has announced price increases of between 5% and 10% for the company’s major products. These include core intermediates, sealants and elastomers. The increases are partly to offset the increasing costs of energy, raw materials and transportation. These increases are necessary even though the company has invested to increase productivity and reduce manufacturing costs. EPDM prices rise Dow Europe GmbH has recently announced price increases for its Nordel hydrocarbon rubber. Mechanical seals cooperation to increase Eagle Industry Co Ltd of Japan and Burgmann Industries GmbH & Co KG in Germany have agreed to discuss and promote a capital and business alliance in partnership with NOK Corporation and Freudenberg & Co. And another dry piston ring material is introduced The latest in the new piston ring materials announced by France Compressor Products is FHP 3005. This material is for reciprocating compressor piston rings, rider bands and packing rings for ‘bone-dry’ applications. It is said to be particularly suitable for ethylene, hydrogen and also other applications where conditions exceed 275 bar and 160°C.
Baker Hughes acquires Scottish technology company US-based Baker Hughes has acquired all of the outstanding share capital of Zeroth Technology Ltd, (Zertech), a privately owned company based in Aberdeen, Scotland. The company has developed and patented a unique, non-elastomer, expandable metal sealing element that is marketed for well intervention applications. It was recently awarded the International Coiled Tubing Association’s European Chapter Award for Innovation and Technology. Contact: Baker Hughes Inc, 3900 Essex Lane, Suite 1200, Houston, TX 77027-5177, USA. Tel: +1 713 439 8600, Fax: +1 713 439 8699, Email: [email protected], Web: www.bakerhughes.com
The Zertech Z-seal expandable metal seal, manufactured by Zeroth Technology, which has been acquired by Baker Hughes.
Talbros eyes markets in US and Europe
New development director appointed at Simrit Simrit, the industrial sealing products division of Freudenberg-NOK in the US, has named Clive J. Hill as development director of heavy-duty hydraulics. In his new position, Hill is responsible for expanding the North American business base of the Merkel Freudenberg Fluidtechnic brand in a variety of specialized industrial markets. Hill has worked for Simrit in the UK since 1996. Actuant tightens bolting companies Earlier this year, bolting integrity company Hedley Purvis and Hydratight Sweeney, a manufacturer of hydraulic bolt tightening equipment, were both acquired by the Actuant Corporation. The process of combining the two businesses is under way. Both businesses will in future trade under the name Hydratight with a new logo. Modernization project starts A groundbreaking ceremony has been held to mark the start of the first phase of the Palmyra Modernization Project at Garlock Sealing Technologies. The five-year project is designed to develop a world-class manufacturing facility at the Palmyra, New York manufacturing complex. The completed project will result in new, state-of-the-art production facilities and reduce the number of buildings on the site from 26 to seven.
Corporation of Japan. It has also set up a production unit under the joint venture at Manesar, Haryana, India. TACL plans to invest Rs503.9 million (US$11m) on expansion, including the joint venture with Nippon Leakless, according to an India Business Insight report. The company will spend Rs94.6m (US$2m) on expanding the gasket making facilities. The joint venture with Nippon Leakless will cater mainly for Honda in India.
Talbros Automotive Components Ltd (TACL), one of the leading automotive components companies in India, is planning to reach out to the US and European markets, according to the Business Standard of India. The company is also planning to acquire automotive components companies outside India. To increase exports the company is planning to set up marketing offices in the US and Europe. At present, Talbros gaskets are exported to more than 25 countries around the world. To meet the requirements of Japanese automobile manufacturers in the Indian and global markets, the company recently entered into a technical agreement with Nippon Leakless
Contact: Talbros Automotive Components Ltd, 14/1 Delhi – Mathura Road, Faridabad 121003, Haryana, India. Tel: +91 129 227 5434, Fax: +91 129 227 7240, Email: [email protected], Web: www.talbros.com
who have had increasingly less to do with asbestos exposure,’ says the journal. ‘This has also marginalized real asbestos victims, who can’t have cases heard due to the onslaught of lawyer-driven claims that make up in volume what they lack in merit.’
The article uses as an example Monroe Rubber and Gasket Co in Monroe, Louisiana, which has 75 asbestos lawsuits pending against the company although it has never manufactured asbestos products.
Senate to look at asbestos legislation In the US, Senate Majority Leader Bill Frist has recently announced that ‘asbestos reform will be the first major piece of legislation that we consider in late January when we return,’ according to the journal Human Events. 4
The problem to be addressed appears to be the huge number of spurious asbestos-related lawsuits. ‘For many years we have been operating in a system in which people who aren’t sick are demanding compensation from a pool of defendants
Sealing Technology January 2006
IN BRIEF Dana receives waiver extensions Ohio-based Dana Corporation has announced that it has received a continuation and extension of waivers related to its five-year bank facility until 31 May 2006. The new waivers provide for early termination if the company is not able to deliver its restated financial statements by 30 December 2005. It expects to file these statements with the Securities and Exchange Commission prior to this date. Price of silicones increased Rhodia Silicones has announced price increases of between 5% and 10% for the company’s major products. These include core intermediates, sealants and elastomers. The increases are partly to offset the increasing costs of energy, raw materials and transportation. These increases are necessary even though the company has invested to increase productivity and reduce manufacturing costs. EPDM prices rise Dow Europe GmbH has recently announced price increases for its Nordel hydrocarbon rubber. Mechanical seals cooperation to increase Eagle Industry Co Ltd of Japan and Burgmann Industries GmbH & Co KG in Germany have agreed to discuss and promote a capital and business alliance in partnership with NOK Corporation and Freudenberg & Co. And another dry piston ring material is introduced The latest in the new piston ring materials announced by France Compressor Products is FHP 3005. This material is for reciprocating compressor piston rings, rider bands and packing rings for ‘bone-dry’ applications. It is said to be particularly suitable for ethylene, hydrogen and also other applications where conditions exceed 275 bar and 160°C.
Baker Hughes acquires Scottish technology company US-based Baker Hughes has acquired all of the outstanding share capital of Zeroth Technology Ltd, (Zertech), a privately owned company based in Aberdeen, Scotland. The company has developed and patented a unique, non-elastomer, expandable metal sealing element that is marketed for well intervention applications. It was recently awarded the International Coiled Tubing Association’s European Chapter Award for Innovation and Technology. Contact: Baker Hughes Inc, 3900 Essex Lane, Suite 1200, Houston, TX 77027-5177, USA. Tel: +1 713 439 8600, Fax: +1 713 439 8699, Email: [email protected], Web: www.bakerhughes.com
The Zertech Z-seal expandable metal seal, manufactured by Zeroth Technology, which has been acquired by Baker Hughes.
Talbros eyes markets in US and Europe
New development director appointed at Simrit Simrit, the industrial sealing products division of Freudenberg-NOK in the US, has named Clive J. Hill as development director of heavy-duty hydraulics. In his new position, Hill is responsible for expanding the North American business base of the Merkel Freudenberg Fluidtechnic brand in a variety of specialized industrial markets. Hill has worked for Simrit in the UK since 1996. Actuant tightens bolting companies Earlier this year, bolting integrity company Hedley Purvis and Hydratight Sweeney, a manufacturer of hydraulic bolt tightening equipment, were both acquired by the Actuant Corporation. The process of combining the two businesses is under way. Both businesses will in future trade under the name Hydratight with a new logo. Modernization project starts A groundbreaking ceremony has been held to mark the start of the first phase of the Palmyra Modernization Project at Garlock Sealing Technologies. The five-year project is designed to develop a world-class manufacturing facility at the Palmyra, New York manufacturing complex. The completed project will result in new, state-of-the-art production facilities and reduce the number of buildings on the site from 26 to seven.
Corporation of Japan. It has also set up a production unit under the joint venture at Manesar, Haryana, India. TACL plans to invest Rs503.9 million (US$11m) on expansion, including the joint venture with Nippon Leakless, according to an India Business Insight report. The company will spend Rs94.6m (US$2m) on expanding the gasket making facilities. The joint venture with Nippon Leakless will cater mainly for Honda in India.
Talbros Automotive Components Ltd (TACL), one of the leading automotive components companies in India, is planning to reach out to the US and European markets, according to the Business Standard of India. The company is also planning to acquire automotive components companies outside India. To increase exports the company is planning to set up marketing offices in the US and Europe. At present, Talbros gaskets are exported to more than 25 countries around the world. To meet the requirements of Japanese automobile manufacturers in the Indian and global markets, the company recently entered into a technical agreement with Nippon Leakless
Contact: Talbros Automotive Components Ltd, 14/1 Delhi – Mathura Road, Faridabad 121003, Haryana, India. Tel: +91 129 227 5434, Fax: +91 129 227 7240, Email: [email protected], Web: www.talbros.com
who have had increasingly less to do with asbestos exposure,’ says the journal. ‘This has also marginalized real asbestos victims, who can’t have cases heard due to the onslaught of lawyer-driven claims that make up in volume what they lack in merit.’
The article uses as an example Monroe Rubber and Gasket Co in Monroe, Louisiana, which has 75 asbestos lawsuits pending against the company although it has never manufactured asbestos products.
Senate to look at asbestos legislation In the US, Senate Majority Leader Bill Frist has recently announced that ‘asbestos reform will be the first major piece of legislation that we consider in late January when we return,’ according to the journal Human Events. 4
The problem to be addressed appears to be the huge number of spurious asbestos-related lawsuits. ‘For many years we have been operating in a system in which people who aren’t sick are demanding compensation from a pool of defendants
Sealing Technology January 2006