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Sumitomo signs strategic alliance with VA Tech Wabag
DIVIDENDS/NEWS
Dividends UÊ General Electric Co has increased its quarterly dividend by 17% from US$0.12 to US$0.14 per outstanding share of the company’s common stock. The dividend is payable on 25 January 2011 to shareowners of record on 27 December 2010. “We are able to increase the GE dividend for the second time this year because of continued strong cash generation, accelerated recovery at GE Capital and solid underlying performance in our Industrial businesses through year-end 2010,” said GE CEO Jeff Immelt. “In addition, the company plans to continue capitalizing on complementary and financially attractive inorganic growth opportunities, opportunistic share repurchases and investing in innovation as part of our thoughtful capital-allocation efforts.” www.ge.com UÊ Donaldson Co Inc’s board of directors has raised the company’s quarterly common stock cash dividend by 4%, marking the 25th consecutive year of dividend increases for the filter manufacturer. A regular cash dividend of US$0.13 per share will be paid on 17 December 2010 to shareholders of record on 6 December 2010. At 31 October 2010, Donaldson had approximately 76.5 million shares outstanding. The current declaration is the 221st consecutive quarterly cash dividend paid by Donaldson over 55 years. www.donaldson.com UÊ / iÊ 3M Inc board has declared a dividend on the company’s common stock of US$0.525 per share for the fourth quarter of 2010, payable on 12 December 2010, to shareholders of record at the close of business on 19 November 2010. This cash dividend is the 377th consecutive quarterly dividend paid by 3M. As of 30 September 2010, 3M had 714 859 083 common shares outstanding and 107 259 shareholders of record. www.3m.com UÊ SPX Corp’s board has declared a quarterly dividend of US$0.25 per common share which is payable on 4 January 2011, to shareholders of record on 15 December 2010. www.spx.com 6
Filtration Industry Analyst
International Group, a supplier to the oil & gas and petrochemical industries in Saudi Arabia. The agreement with Bandariyah gives ProSep a strong local partner to support its marketing, sales and after sales activities in the region. “Management of oil and water resources are major concerns in Saudi Arabia. After almost two years of testing and field trials in the region, our solutions have proven they can reduce consumption of water and chemicals in the treatment of oil, gas and produced water. With the support of Bandariyah International’s extensive network and expertise in introducing new technologies in the Kingdom, ProSep can now actively pursue this promising market,” said Drouin. For further information, visit www.prosepinc.com, www.kolon.com and www.bandariyah.com
Eriez Hydroflow relocates to new facility in Ohio
E
riez Hydroflow has moved to a new, state-of-the-art sales and engineering office in Maumee, Ohio. Eriez recently acquired Hydroflow Filtration Systems and the Systems Equipment Division of fluid recycling products from The Andersons Inc (see Filtration Industry Analyst, September 2010). Eriez Hydroflow Filtration Systems and Fluid Recycling Equipment provides a complete line of standard and custom design filtration and fluid recycling products to the metalworking, aerospace, medical, automotive, bearings/gear and power generation industries. Barry Nehls, general manager for the Eriez Hydroflow product line, said his team is excited about the recent changes. “Moving to our new office begins a fantastic, new chapter for us as Eriez Hydroflow, and we are excited about the opportunities that brings,” said Nehls.
For further information, visit www.eriez.com
Sumitomo signs strategic alliance with VA Tech Wabag
J
apan’s Sumitomo Corp has entered into a strategic alliance agreement with Indian water treatment company
VA Tech Wabag Ltd which will see the two companies cooperate within the water infrastructure industry. Under the alliance agreement, Sumitomo intends to broaden its global water infrastructure assets, increase its operational capabilities and enter the Indian water sector. Wabag wants to expand into the capital intensive concession business and is interested in using Sumitomo’s project investment and large scale project finance structuring expertise as well as its global network. For further information, visit www.sumitomocorp.co.jp and www.wabag.com
Revenue and EBIT gains for BWT
T
he BWT Group’s consolidated revenues increased by 16.3% from E296.9 million to E345.2 million in the January to September 2010 period. Revenues in the point-of-entry business were up 14.3% in the first nine months, while revenues in the point-of-use business saw a 44.4% gain. Earnings before interest and taxes (EBIT) were E26.5 million at the end of September, a 7.6% improvement on the previous year’s E24.6 million. BWT’s consolidated earnings after minority interests in the first three quarters of 2010 were E20.0 million, a decline of 9.7% compared with the previous year. Andreas Weissenbacher, CEO of the BWT Group, said they were on track with realising their strategic goal to transform the BWT brand into a consumer brand. Looking ahead, Weissenbacher said that individual regions such as Spain and Eastern Europe continue to exhibit adverse market conditions. “Furthermore, strikes carried out recently in France pose a threat to the economic recovery of this important country. In spite of the positive results thus far in 2010 and the currently good order situation, it remains a challenge to compensate the strong financial results achieved in the previous year, which were brought about by the sale of an investment, with operating growth thus reaching last year’s consolidated net earnings,” said Weissenbacher.
For further information, visit www.bwt.at
December 2010
Dividends UÊ General Electric Co has increased its quarterly dividend by 17% from US$0.12 to US$0.14 per outstanding share of the company’s common stock. The dividend is payable on 25 January 2011 to shareowners of record on 27 December 2010. “We are able to increase the GE dividend for the second time this year because of continued strong cash generation, accelerated recovery at GE Capital and solid underlying performance in our Industrial businesses through year-end 2010,” said GE CEO Jeff Immelt. “In addition, the company plans to continue capitalizing on complementary and financially attractive inorganic growth opportunities, opportunistic share repurchases and investing in innovation as part of our thoughtful capital-allocation efforts.” www.ge.com UÊ Donaldson Co Inc’s board of directors has raised the company’s quarterly common stock cash dividend by 4%, marking the 25th consecutive year of dividend increases for the filter manufacturer. A regular cash dividend of US$0.13 per share will be paid on 17 December 2010 to shareholders of record on 6 December 2010. At 31 October 2010, Donaldson had approximately 76.5 million shares outstanding. The current declaration is the 221st consecutive quarterly cash dividend paid by Donaldson over 55 years. www.donaldson.com UÊ / iÊ 3M Inc board has declared a dividend on the company’s common stock of US$0.525 per share for the fourth quarter of 2010, payable on 12 December 2010, to shareholders of record at the close of business on 19 November 2010. This cash dividend is the 377th consecutive quarterly dividend paid by 3M. As of 30 September 2010, 3M had 714 859 083 common shares outstanding and 107 259 shareholders of record. www.3m.com UÊ SPX Corp’s board has declared a quarterly dividend of US$0.25 per common share which is payable on 4 January 2011, to shareholders of record on 15 December 2010. www.spx.com 6
Filtration Industry Analyst
International Group, a supplier to the oil & gas and petrochemical industries in Saudi Arabia. The agreement with Bandariyah gives ProSep a strong local partner to support its marketing, sales and after sales activities in the region. “Management of oil and water resources are major concerns in Saudi Arabia. After almost two years of testing and field trials in the region, our solutions have proven they can reduce consumption of water and chemicals in the treatment of oil, gas and produced water. With the support of Bandariyah International’s extensive network and expertise in introducing new technologies in the Kingdom, ProSep can now actively pursue this promising market,” said Drouin. For further information, visit www.prosepinc.com, www.kolon.com and www.bandariyah.com
Eriez Hydroflow relocates to new facility in Ohio
E
riez Hydroflow has moved to a new, state-of-the-art sales and engineering office in Maumee, Ohio. Eriez recently acquired Hydroflow Filtration Systems and the Systems Equipment Division of fluid recycling products from The Andersons Inc (see Filtration Industry Analyst, September 2010). Eriez Hydroflow Filtration Systems and Fluid Recycling Equipment provides a complete line of standard and custom design filtration and fluid recycling products to the metalworking, aerospace, medical, automotive, bearings/gear and power generation industries. Barry Nehls, general manager for the Eriez Hydroflow product line, said his team is excited about the recent changes. “Moving to our new office begins a fantastic, new chapter for us as Eriez Hydroflow, and we are excited about the opportunities that brings,” said Nehls.
For further information, visit www.eriez.com
Sumitomo signs strategic alliance with VA Tech Wabag
J
apan’s Sumitomo Corp has entered into a strategic alliance agreement with Indian water treatment company
VA Tech Wabag Ltd which will see the two companies cooperate within the water infrastructure industry. Under the alliance agreement, Sumitomo intends to broaden its global water infrastructure assets, increase its operational capabilities and enter the Indian water sector. Wabag wants to expand into the capital intensive concession business and is interested in using Sumitomo’s project investment and large scale project finance structuring expertise as well as its global network. For further information, visit www.sumitomocorp.co.jp and www.wabag.com
Revenue and EBIT gains for BWT
T
he BWT Group’s consolidated revenues increased by 16.3% from E296.9 million to E345.2 million in the January to September 2010 period. Revenues in the point-of-entry business were up 14.3% in the first nine months, while revenues in the point-of-use business saw a 44.4% gain. Earnings before interest and taxes (EBIT) were E26.5 million at the end of September, a 7.6% improvement on the previous year’s E24.6 million. BWT’s consolidated earnings after minority interests in the first three quarters of 2010 were E20.0 million, a decline of 9.7% compared with the previous year. Andreas Weissenbacher, CEO of the BWT Group, said they were on track with realising their strategic goal to transform the BWT brand into a consumer brand. Looking ahead, Weissenbacher said that individual regions such as Spain and Eastern Europe continue to exhibit adverse market conditions. “Furthermore, strikes carried out recently in France pose a threat to the economic recovery of this important country. In spite of the positive results thus far in 2010 and the currently good order situation, it remains a challenge to compensate the strong financial results achieved in the previous year, which were brought about by the sale of an investment, with operating growth thus reaching last year’s consolidated net earnings,” said Weissenbacher.
For further information, visit www.bwt.at
December 2010