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Sinomem sees strong Q1 gains
DIVIDENDS/NEWS
Dividends UÊ Parker Hannifin Corp has increased its quarterly dividend by 4% to US$0.26 per share. The company’s next dividend will be paid on 4 June 2010 to shareholders of record on 20 May 2010. This is Parker Hannifin’s 240th consecutive quarterly dividend, resulting in a total distribution to shareholders of approximately US$42 million. “We are encouraged by the board’s confidence in our ability to consistently generate strong free cash flows while simultaneously maintaining a strong balance sheet,” said Tim Pistell, Parker Hannifin executive vice president – finance and administration and chief financial officer. www.parker.com UÊ Esco Technologies Inc’s next quarterly cash dividend of US$0.08 per share will be paid on 20 July 2010 to stockholders of record on 6 July 2010. www.escotechnologies.com UÊ / iÊL>À`ÊvÊ`ÀiVÌÀÃÊvÊITT Corp has declared a cash dividend of US$0.25 per share for the second quarter of 2010. The dividend will be paid on 1 July 2010 to shareholders of record on 21 May 2010. Earlier this year, ITT raised its quarterly dividend by 18% from US$0.2125 per share to its current US$0.25 per share. www.itt.com UÊ Ê µÕ>ÀÌiÀÞÊ `Û`i`Ê vÊ 1-fä°£ÈÊ «iÀÊ share was paid on 14 May 2010 to Pall Corp shareholders of record on 7 May 2010. www.pall.com UÊ Ê `Û`i`Ê `ÃÌÀLÕÌÊ vÊ E0.40 per share will be proposed for approval at BWT Group’s annual general meeting on 26 May 2010. Last year the Austrian company paid a dividend of E0.38 per share. www.bwt-group.com UÊ Nalco’s board has declared a quarterly cash dividend payment of US$0.035 per share which will be payable on 2 July 2010, to shareholders of record on 16 June 2010. www.nalco.com UÊ Nederman Holding AB’s Annual General Meeting in April approved the proposal from the company’s board of directors and the president not to pay a dividend to shareholders. www.nederman.com 4
Filtration Industry Analyst
water solutions, has acquired the exclusive right to use IDE Technologies’ thermal desalination technologies in defined regions within the Middle East, North Africa (MENA) and Southeast Asia. Israel’s IDE will transfer the technology over a specified time period and AquaSwiss has agreed not to compete with IDE outside the defined regions. “We are extremely pleased to have secured IDE’s technology and know-how as a means for bringing superior desalination solutions to some of the world’s largest desalination markets that are closed to IDE for political reasons,” said Sanjeev Varma, CEO of AquaSwiss AG. “By acquiring the right to use IDE’s thermal MED technologies in these markets, we believe we can outperform the solutions currently available in these markets in terms of efficiency and price, an advantage that will position us to secure a prominent market share. We are planning on expanding our operations through additional technology acquisitions that will allow us to strengthen our delivery capabilities”. “This agreement is a practical solution that enables us to capitalise on the technological assets that we have built through more than four decades of R&D,” added Avshalom Felber, IDE’s CEO. “We believe it represents an optimal path for benefiting from the demand of large markets that have been closed to us, and thereby to increase IDE’s value and benefit our shareholders.” AquaSwiss AG was founded in early 2009 by a group of entrepreneurs and investors. The group says it has identified a clear market space for an additional solution provider in the MENA and Southeast Asia desalination markets. For further information, visit www.aquaswiss.eu and www.ide-tech.com
Cummins on track for long-term growth
C
ummins Inc continues to perform well despite the global economic downturn and is positioned for a period of sustained profitable growth once the recovery takes hold. That’s the view of Cummins chairman and CEO Tim Solso, who told shareholders at the company’s annual meeting that the actions taken by the company over the past 18 months have allowed it to remain
profitable, generate significant cash and continue to invest in critical technologies for the future. Speaking from the company’s engine plant in Columbus, Ohio, Solso said Cummins expects sales to increase 11% in 2010 to US$12 billion, and earnings before interest and taxes (EBIT), excluding restructuring and other charges, of 10% of sales. The company also expects to invest US$400 million in capital projects in 2010, mostly to support new products and capacity expansions. Solso expects Cummins to reach US$20 billion revenue with an EBIT margin of 12.5% in 2014. “We have a lot of trends working in our favour as we look forward and we are beginning to aggressively prepare for what we think will be a period of sustained growth,” Solso said. “I am confident that we have the plans and the people in place to take advantage of our opportunities, and will continue to deliver significant value to our shareholders in the long term.” For further information, visit www.cummins.com
Sinomem sees strong Q1 gains
S
inomem Technology Ltd has delivered a 39% increase in first-quarter 2010 net profit to S$6.9 million, and a 55% revenue gain to S$32.4 million. The company’s membrane process & engineering and water treatment segments reported a 41% increase in revenues to S$22.8 million. First quarter earnings per share from continuing operations were S$0.0137, up from S$0.0107 a year earlier. Sinomem’s managing director Dr Lan Weiguang remains optimistic about the Group’s future expansion plans. “The global demand for water and wastewater treatment services continues to swell and we see immense opportunities for us to grow both in China and abroad. With our strong track record and integrated business model, we are now well poised to capitalise on these opportunities and develop into a global integrated water solution provider. We expect our recurrent income base to increase when all our BOT projects come on stream, further boosting the robustness of our business model.”
For further information, visit www.sinomem.com
May 2010
Dividends UÊ Parker Hannifin Corp has increased its quarterly dividend by 4% to US$0.26 per share. The company’s next dividend will be paid on 4 June 2010 to shareholders of record on 20 May 2010. This is Parker Hannifin’s 240th consecutive quarterly dividend, resulting in a total distribution to shareholders of approximately US$42 million. “We are encouraged by the board’s confidence in our ability to consistently generate strong free cash flows while simultaneously maintaining a strong balance sheet,” said Tim Pistell, Parker Hannifin executive vice president – finance and administration and chief financial officer. www.parker.com UÊ Esco Technologies Inc’s next quarterly cash dividend of US$0.08 per share will be paid on 20 July 2010 to stockholders of record on 6 July 2010. www.escotechnologies.com UÊ / iÊL>À`ÊvÊ`ÀiVÌÀÃÊvÊITT Corp has declared a cash dividend of US$0.25 per share for the second quarter of 2010. The dividend will be paid on 1 July 2010 to shareholders of record on 21 May 2010. Earlier this year, ITT raised its quarterly dividend by 18% from US$0.2125 per share to its current US$0.25 per share. www.itt.com UÊ Ê µÕ>ÀÌiÀÞÊ `Û`i`Ê vÊ 1-fä°£ÈÊ «iÀÊ share was paid on 14 May 2010 to Pall Corp shareholders of record on 7 May 2010. www.pall.com UÊ Ê `Û`i`Ê `ÃÌÀLÕÌÊ vÊ E0.40 per share will be proposed for approval at BWT Group’s annual general meeting on 26 May 2010. Last year the Austrian company paid a dividend of E0.38 per share. www.bwt-group.com UÊ Nalco’s board has declared a quarterly cash dividend payment of US$0.035 per share which will be payable on 2 July 2010, to shareholders of record on 16 June 2010. www.nalco.com UÊ Nederman Holding AB’s Annual General Meeting in April approved the proposal from the company’s board of directors and the president not to pay a dividend to shareholders. www.nederman.com 4
Filtration Industry Analyst
water solutions, has acquired the exclusive right to use IDE Technologies’ thermal desalination technologies in defined regions within the Middle East, North Africa (MENA) and Southeast Asia. Israel’s IDE will transfer the technology over a specified time period and AquaSwiss has agreed not to compete with IDE outside the defined regions. “We are extremely pleased to have secured IDE’s technology and know-how as a means for bringing superior desalination solutions to some of the world’s largest desalination markets that are closed to IDE for political reasons,” said Sanjeev Varma, CEO of AquaSwiss AG. “By acquiring the right to use IDE’s thermal MED technologies in these markets, we believe we can outperform the solutions currently available in these markets in terms of efficiency and price, an advantage that will position us to secure a prominent market share. We are planning on expanding our operations through additional technology acquisitions that will allow us to strengthen our delivery capabilities”. “This agreement is a practical solution that enables us to capitalise on the technological assets that we have built through more than four decades of R&D,” added Avshalom Felber, IDE’s CEO. “We believe it represents an optimal path for benefiting from the demand of large markets that have been closed to us, and thereby to increase IDE’s value and benefit our shareholders.” AquaSwiss AG was founded in early 2009 by a group of entrepreneurs and investors. The group says it has identified a clear market space for an additional solution provider in the MENA and Southeast Asia desalination markets. For further information, visit www.aquaswiss.eu and www.ide-tech.com
Cummins on track for long-term growth
C
ummins Inc continues to perform well despite the global economic downturn and is positioned for a period of sustained profitable growth once the recovery takes hold. That’s the view of Cummins chairman and CEO Tim Solso, who told shareholders at the company’s annual meeting that the actions taken by the company over the past 18 months have allowed it to remain
profitable, generate significant cash and continue to invest in critical technologies for the future. Speaking from the company’s engine plant in Columbus, Ohio, Solso said Cummins expects sales to increase 11% in 2010 to US$12 billion, and earnings before interest and taxes (EBIT), excluding restructuring and other charges, of 10% of sales. The company also expects to invest US$400 million in capital projects in 2010, mostly to support new products and capacity expansions. Solso expects Cummins to reach US$20 billion revenue with an EBIT margin of 12.5% in 2014. “We have a lot of trends working in our favour as we look forward and we are beginning to aggressively prepare for what we think will be a period of sustained growth,” Solso said. “I am confident that we have the plans and the people in place to take advantage of our opportunities, and will continue to deliver significant value to our shareholders in the long term.” For further information, visit www.cummins.com
Sinomem sees strong Q1 gains
S
inomem Technology Ltd has delivered a 39% increase in first-quarter 2010 net profit to S$6.9 million, and a 55% revenue gain to S$32.4 million. The company’s membrane process & engineering and water treatment segments reported a 41% increase in revenues to S$22.8 million. First quarter earnings per share from continuing operations were S$0.0137, up from S$0.0107 a year earlier. Sinomem’s managing director Dr Lan Weiguang remains optimistic about the Group’s future expansion plans. “The global demand for water and wastewater treatment services continues to swell and we see immense opportunities for us to grow both in China and abroad. With our strong track record and integrated business model, we are now well poised to capitalise on these opportunities and develop into a global integrated water solution provider. We expect our recurrent income base to increase when all our BOT projects come on stream, further boosting the robustness of our business model.”
For further information, visit www.sinomem.com
May 2010