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Toray to take majority stake in Woongjin Chemical
NEWS
Toray to take majority stake in Woongjin Chemical
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oray Industries Inc subsidiary Toray Advanced Materials Korea Inc has agreed to buy a 56.2% stake in South Korea’s Woongjin Chemical Co Ltd for KWn430 billion from Woongjin Holdings Co Ltd (see Filtration Industry Analyst, October 2013). The acquisition of a majority stake gives the Toray Group control of Woongjin Chemical’s main fibres and textiles business as well as its growing water treatment filter activities. Woongjin Chemical’s CSM filter division produces reverse osmosis, nanofiltration, ultrafiltration and microfiltration membrane products. Earlier this year, Silicon Valley startup Porifera Inc closed Series A financing and a development, manufacturing and commercialisation agreement with Woongjin Chemical (see Filtration Industry Analyst, August 2013). Toray Advanced Materials Korea manufactures and distributes PET film, polyester fibres, nonwoven fabric, processed film products, materials for printed circuits, water treatment membrane modules and carbon fibres. Its predecessor, Toray Saehan Inc, was a joint venture established in 1999 by Toray and South Korea’s Saehan Industries. In 2010, Toray acquired the entire stake held by Saehan Industries and made the company a wholly owned subsidiary. Woongjin Chemical used to be known as Saehan Industries, until it was acquired by the Woongjin group in 2008 and subsequently renamed. Toray Advanced Materials Korea and Woongjin Chemical have plants in the same premises and already have a close working relationship. The share acquisition is scheduled for January 2014. For further information, visit www.toray.com, www.wjchemical.com and www.csmfilter.com
ProSep assets sold to Produced Water Absorbents
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roSep Inc has completed the sale of substantially all of its assets to a wholly-owned subsidiary of 4
Filtration Industry Analyst
Produced Water Absorbents Inc (PWA), a technology company that provides waste treatment solutions and services to the oil and gas industry, for C$9.2 million. As a result of the sale, ProSep no longer has any commercial activities and will change its name to 2907160 Canada Inc. The business of ProSep’s subsidiaries will be carried on by PWA. The ProSep subsidiaries will continue to fulfill their obligations to their customers and suppliers. ProSep is currently under creditor protection pursuant to the Companies’ Creditors Arrangement Act (Canada). It is expected that there will be no recovery for the company’s shareholders after settlement of creditors’ claims. When the distribution of the net proceeds is completed, the existing directors of the company will resign and it is intended that the company will be dissolved. For further information, visit www.prosep.com and www.pwasystems.com
PECOFacet expands in the Middle East
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larcor Inc subsidiary PECOFacet has opened a new office in Dubai. Located in the Dubai Airport Free Trade Zone, the new office’s opening ceremony was attended by key customers and distributors, as well as PECOFacet’s president, vice president of Europe, Middle East and Africa, and vice president of global sales. PECOFacet president Scott Thompson said: “While PECOFacet has been providing innovative solutions throughout the Middle East for many years, our new office brings the next level of responsiveness and service to our customers in the Middle East.” Clarcor CEO Chris Conway said: “PECOFacet’s new office in Dubai represents our commitment to the Middle East and is another step in our strategy of making Clarcor the world’s leading oil, gas, chemical and fuel filtration provider.”
non-governmental organisations including Water Missions International, Action Against Hunger and the American Red Cross to rapidly deploy funds and technology for clean water to those affected by Typhoon Haiyan. “As a global company with the resources, technology and values to make a positive impact, we are mobilising to help,” said Randall Hogan, chairman and CEO of Pentair. “Through our Project Safewater efforts, we have formed long-term relationships with strategic partners to develop emergency clean water systems and hygiene protocols that can be rapidly deployed in times of crisis. We are grateful to be able to utilise our resources and expertise to support those affected by this massive disaster.” Pentair has contributed US$200 000 to ensure the delivery of 20 Living Water Treatment Systems to the Philippines, providing emergency water needs for over 100 000 people. Pentair has also committed to match all donations up to US$50 000 to Action Against Hunger, a global organisation and Pentair strategic partner, with a strong presence in the Philippines. The funds raised will be dedicated to the distribution of emergency clean water and hygiene kits. The Pentair Foundation is matching, dollar for dollar, all donations by Pentair employees to the American Red Cross’s Typhoon Haiyan disaster program, up to a total of US$100 000. For further information, visit www.pentair.com
Pervatech purchases Dutch ceramic disc manufacturer
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Pentair reaches out to the Philippines
embrane specialist Pervatech BV has acquired fellow Dutch company Cobra Technologies BV, a manufacturer of ceramic discs. Pervatech, a producer of membranes, membrane modules and separation systems for pervaporation and vapour permeation applications, recently secured the necessary financial support to fund its planned expansion (see Filtration Industry Analyst, September 2013).
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For further information, visit www.pervatech.com and www.cobraceramicdiscs.com
For further information, visit www.pecofacet.com and www.clarcor.com
entair and The Pentair Foundation are working with
November 2013
Toray to take majority stake in Woongjin Chemical
T
oray Industries Inc subsidiary Toray Advanced Materials Korea Inc has agreed to buy a 56.2% stake in South Korea’s Woongjin Chemical Co Ltd for KWn430 billion from Woongjin Holdings Co Ltd (see Filtration Industry Analyst, October 2013). The acquisition of a majority stake gives the Toray Group control of Woongjin Chemical’s main fibres and textiles business as well as its growing water treatment filter activities. Woongjin Chemical’s CSM filter division produces reverse osmosis, nanofiltration, ultrafiltration and microfiltration membrane products. Earlier this year, Silicon Valley startup Porifera Inc closed Series A financing and a development, manufacturing and commercialisation agreement with Woongjin Chemical (see Filtration Industry Analyst, August 2013). Toray Advanced Materials Korea manufactures and distributes PET film, polyester fibres, nonwoven fabric, processed film products, materials for printed circuits, water treatment membrane modules and carbon fibres. Its predecessor, Toray Saehan Inc, was a joint venture established in 1999 by Toray and South Korea’s Saehan Industries. In 2010, Toray acquired the entire stake held by Saehan Industries and made the company a wholly owned subsidiary. Woongjin Chemical used to be known as Saehan Industries, until it was acquired by the Woongjin group in 2008 and subsequently renamed. Toray Advanced Materials Korea and Woongjin Chemical have plants in the same premises and already have a close working relationship. The share acquisition is scheduled for January 2014. For further information, visit www.toray.com, www.wjchemical.com and www.csmfilter.com
ProSep assets sold to Produced Water Absorbents
P
roSep Inc has completed the sale of substantially all of its assets to a wholly-owned subsidiary of 4
Filtration Industry Analyst
Produced Water Absorbents Inc (PWA), a technology company that provides waste treatment solutions and services to the oil and gas industry, for C$9.2 million. As a result of the sale, ProSep no longer has any commercial activities and will change its name to 2907160 Canada Inc. The business of ProSep’s subsidiaries will be carried on by PWA. The ProSep subsidiaries will continue to fulfill their obligations to their customers and suppliers. ProSep is currently under creditor protection pursuant to the Companies’ Creditors Arrangement Act (Canada). It is expected that there will be no recovery for the company’s shareholders after settlement of creditors’ claims. When the distribution of the net proceeds is completed, the existing directors of the company will resign and it is intended that the company will be dissolved. For further information, visit www.prosep.com and www.pwasystems.com
PECOFacet expands in the Middle East
C
larcor Inc subsidiary PECOFacet has opened a new office in Dubai. Located in the Dubai Airport Free Trade Zone, the new office’s opening ceremony was attended by key customers and distributors, as well as PECOFacet’s president, vice president of Europe, Middle East and Africa, and vice president of global sales. PECOFacet president Scott Thompson said: “While PECOFacet has been providing innovative solutions throughout the Middle East for many years, our new office brings the next level of responsiveness and service to our customers in the Middle East.” Clarcor CEO Chris Conway said: “PECOFacet’s new office in Dubai represents our commitment to the Middle East and is another step in our strategy of making Clarcor the world’s leading oil, gas, chemical and fuel filtration provider.”
non-governmental organisations including Water Missions International, Action Against Hunger and the American Red Cross to rapidly deploy funds and technology for clean water to those affected by Typhoon Haiyan. “As a global company with the resources, technology and values to make a positive impact, we are mobilising to help,” said Randall Hogan, chairman and CEO of Pentair. “Through our Project Safewater efforts, we have formed long-term relationships with strategic partners to develop emergency clean water systems and hygiene protocols that can be rapidly deployed in times of crisis. We are grateful to be able to utilise our resources and expertise to support those affected by this massive disaster.” Pentair has contributed US$200 000 to ensure the delivery of 20 Living Water Treatment Systems to the Philippines, providing emergency water needs for over 100 000 people. Pentair has also committed to match all donations up to US$50 000 to Action Against Hunger, a global organisation and Pentair strategic partner, with a strong presence in the Philippines. The funds raised will be dedicated to the distribution of emergency clean water and hygiene kits. The Pentair Foundation is matching, dollar for dollar, all donations by Pentair employees to the American Red Cross’s Typhoon Haiyan disaster program, up to a total of US$100 000. For further information, visit www.pentair.com
Pervatech purchases Dutch ceramic disc manufacturer
M
Pentair reaches out to the Philippines
embrane specialist Pervatech BV has acquired fellow Dutch company Cobra Technologies BV, a manufacturer of ceramic discs. Pervatech, a producer of membranes, membrane modules and separation systems for pervaporation and vapour permeation applications, recently secured the necessary financial support to fund its planned expansion (see Filtration Industry Analyst, September 2013).
P
For further information, visit www.pervatech.com and www.cobraceramicdiscs.com
For further information, visit www.pecofacet.com and www.clarcor.com
entair and The Pentair Foundation are working with
November 2013