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Tsurumi invests in USA, China
IN BRIEF/NEWS
In Brief • Pentair Inc says that it is rationalising three international and three US factories within its Water segment. The production at these sites will shift to Mexico, China and other US facilities. The company is also planning to undertake an operational restructuring plan for its Spa/Bath business. www.pentair.com • Colfax Corp is launching a quarterly e-newsletter to share knowledge about pump technology and best fluid-management practices for the power generation industry. The new publication is targeted at engineers, architects, turbine maintenance engineers, designers and managers of power generation facilities. The first issue of PowerLine will be published later this summer. “We want to establish an interactive dialogue with the key players in the market,” said Sean McCandless, Colfax Power Generation market manager and the editor of the e-newsletter. To receive PowerLine, visit www.colfaxcorp.com/powgen/signup2. html • Clyde Pumps, incorporating Weir Pumps Glasgow, has renewed its ASME Certificates of Authorisation used in the supply of ‘N’, ‘NPT’ and ‘NS’ equipment. This successful renewal means that Clyde Pumps has 31 years of experience operating to the high standards required by ASME for the supply of safety related equipment to the nuclear industry. www.clydepumps.com • Kirloskar Brothers Ltd has completed the acquisition of The Kolhapur Steel Ltd (TKSL), an Indian manuafcturer of alloy steel castings for pumps and valves. www.kbl.co.in • BZ Engineering Briefings has launched Pump Industry Briefing 2008, a new report that analyses the world’s leading pump manufacturers. The 190-page report, priced at £675, profiles 40 companies, and includes an overview of the present state of the pump industry. www.bzengineeringbriefings.com 12
Pump Industry Analyst
Tsurumi invests in USA, China
T
surumi (America) Inc, a whollyowned subsidiary of Tsurumi Manufacturing Co Ltd, has acquired full ownership of Tsurumi Distributors Inc (TDI), creating its first branch office in the United States - Tsurumi America West. TDI was a former distributor of Tsurumi (America) in the western region of the US. With the acquisition, Tsurumi is hoping to capture more of the growing US mining market. Meanwhile the Japanese pump manufacturer has also increased its stake in Tsurumi Vacuum Engineering (Shanghai) Co Ltd, a joint venture company between Tsurumi and other parties including a Japanese trading house. Tsurumi now has management control of the Chinese company, which manufactures condensers and compressors for the power plant and petrochemical industries.
For further information, visit www.tsurumipump. co.jp and www.tsurumipump.com
Tecumseh Products sells MP Pumps to Lionheart Ventures
T
ecumseh Products Co has completed the sale of its centrifugal pumps business operation, MP Pumps Inc, to MP Pumps Acquisition Corp, an indirect subsidiary of US private equity group Lionheart Ventures. The purchase price was US$14.6 million in cash and is subject to certain customary post-closing adjustments. The deal includes MP Pumps’ manufacturing facility in Fraser, Michigan. “This sale of a solid, but non-strategic, operation is another milestone in our effort to focus on our core brand and product strengths in the refrigeration/freezer and commercial/distribution markets worldwide,” said Ed Buker, Tecumseh Products president and CEO. “We are excited to complete the acquisition of our third platform company and enter the global pumps industry. MP
Pumps Inc has a dynamic leadership team driving the company and we look forward to supporting their strategic plans for continued growth,” said David Bovenizer, Lionheart Ventures founder and CEO. Formed in 1942, MP Pumps manufactures engineered centrifugal pumps serving mainly the industrial, transportation, agricultural and marine industries. Lionheart Ventures says that MP Pumps will serve as a platform company for its Fluid Handling Products companies. For further information, visit www.tecumseh.com, www.lionheartventures.com and www.mppumps.com
AmeriPumps relocates HQ to Virginia
A
meriPumps LLC, a manufacturer of portable water pumps used in the construction and mining industries, hurricane recovery and on ships and boats, is investing US$4.6 million to move its headquarters and manufacturing facility from Chattanooga, Tennessee, to Hillsville, Virginia in the USA. The company will assemble, ship and service water pumps in Hillsville, creating 125 jobs.
For further information, visit www.ameripumps.com
Interpump secures 100mn loan for future acquisitions
I
taly’s Interpump Group SpA has arranged a 100 million syndicated loan with the option to increase to 120 million. The syndicated loan has an average duration of 4.5 years, with reimbursements beginning in the 17th month and ending in the 71st month. The loan is granted with no guarantee and finalised for future acquisitions. Interpump’s pump interests include General Pump, Hammelmann, NLB and Pratissoli.
For further infornmation, visit www.interpumpgroup.it
August 2008
In Brief • Pentair Inc says that it is rationalising three international and three US factories within its Water segment. The production at these sites will shift to Mexico, China and other US facilities. The company is also planning to undertake an operational restructuring plan for its Spa/Bath business. www.pentair.com • Colfax Corp is launching a quarterly e-newsletter to share knowledge about pump technology and best fluid-management practices for the power generation industry. The new publication is targeted at engineers, architects, turbine maintenance engineers, designers and managers of power generation facilities. The first issue of PowerLine will be published later this summer. “We want to establish an interactive dialogue with the key players in the market,” said Sean McCandless, Colfax Power Generation market manager and the editor of the e-newsletter. To receive PowerLine, visit www.colfaxcorp.com/powgen/signup2. html • Clyde Pumps, incorporating Weir Pumps Glasgow, has renewed its ASME Certificates of Authorisation used in the supply of ‘N’, ‘NPT’ and ‘NS’ equipment. This successful renewal means that Clyde Pumps has 31 years of experience operating to the high standards required by ASME for the supply of safety related equipment to the nuclear industry. www.clydepumps.com • Kirloskar Brothers Ltd has completed the acquisition of The Kolhapur Steel Ltd (TKSL), an Indian manuafcturer of alloy steel castings for pumps and valves. www.kbl.co.in • BZ Engineering Briefings has launched Pump Industry Briefing 2008, a new report that analyses the world’s leading pump manufacturers. The 190-page report, priced at £675, profiles 40 companies, and includes an overview of the present state of the pump industry. www.bzengineeringbriefings.com 12
Pump Industry Analyst
Tsurumi invests in USA, China
T
surumi (America) Inc, a whollyowned subsidiary of Tsurumi Manufacturing Co Ltd, has acquired full ownership of Tsurumi Distributors Inc (TDI), creating its first branch office in the United States - Tsurumi America West. TDI was a former distributor of Tsurumi (America) in the western region of the US. With the acquisition, Tsurumi is hoping to capture more of the growing US mining market. Meanwhile the Japanese pump manufacturer has also increased its stake in Tsurumi Vacuum Engineering (Shanghai) Co Ltd, a joint venture company between Tsurumi and other parties including a Japanese trading house. Tsurumi now has management control of the Chinese company, which manufactures condensers and compressors for the power plant and petrochemical industries.
For further information, visit www.tsurumipump. co.jp and www.tsurumipump.com
Tecumseh Products sells MP Pumps to Lionheart Ventures
T
ecumseh Products Co has completed the sale of its centrifugal pumps business operation, MP Pumps Inc, to MP Pumps Acquisition Corp, an indirect subsidiary of US private equity group Lionheart Ventures. The purchase price was US$14.6 million in cash and is subject to certain customary post-closing adjustments. The deal includes MP Pumps’ manufacturing facility in Fraser, Michigan. “This sale of a solid, but non-strategic, operation is another milestone in our effort to focus on our core brand and product strengths in the refrigeration/freezer and commercial/distribution markets worldwide,” said Ed Buker, Tecumseh Products president and CEO. “We are excited to complete the acquisition of our third platform company and enter the global pumps industry. MP
Pumps Inc has a dynamic leadership team driving the company and we look forward to supporting their strategic plans for continued growth,” said David Bovenizer, Lionheart Ventures founder and CEO. Formed in 1942, MP Pumps manufactures engineered centrifugal pumps serving mainly the industrial, transportation, agricultural and marine industries. Lionheart Ventures says that MP Pumps will serve as a platform company for its Fluid Handling Products companies. For further information, visit www.tecumseh.com, www.lionheartventures.com and www.mppumps.com
AmeriPumps relocates HQ to Virginia
A
meriPumps LLC, a manufacturer of portable water pumps used in the construction and mining industries, hurricane recovery and on ships and boats, is investing US$4.6 million to move its headquarters and manufacturing facility from Chattanooga, Tennessee, to Hillsville, Virginia in the USA. The company will assemble, ship and service water pumps in Hillsville, creating 125 jobs.
For further information, visit www.ameripumps.com
Interpump secures 100mn loan for future acquisitions
I
taly’s Interpump Group SpA has arranged a 100 million syndicated loan with the option to increase to 120 million. The syndicated loan has an average duration of 4.5 years, with reimbursements beginning in the 17th month and ending in the 71st month. The loan is granted with no guarantee and finalised for future acquisitions. Interpump’s pump interests include General Pump, Hammelmann, NLB and Pratissoli.
For further infornmation, visit www.interpumpgroup.it
August 2008