Cameron Posts Strong Earnings per Share in Third Quarter

(10/30/08) Cameron reported net income of $166.3 million, or $0.73 per diluted share, for the quarter ended Sept. 30, 2008, compared with net income of $150.7 million, or $0.65 per diluted share, for the third quarter of 2007. The third quarter 2007 results included a gain of $19.8 million, or $0.09 per share, related to the favorable resolution of certain tax matters. Excluding that gain, the company's earnings were $0.56 per diluted share for the third quarter of 2007.

"The $850 million booking for the initial phase of BP's Block 31 development offshore West Africa marked the largest single order in Cameron's history, and resulted in subsea orders totaling nearly $1 billion in the quarter. This, coupled with a record level of drilling orders, resulted in Drilling & Production Systems posting the highest quarterly orders in its history at $1.95 billion," Cameron President and CEO Jack B. Moore said. "In addition, Valves & Measurement recorded its highest orders quarter to date, with each of its business lines reaching new highs." More…

Curtiss-Wright Reports 2008 Third Quarter and Nine Month Financial Results

(10/29/08) Curtiss-Wright Corp. reported financial results for the third quarter and nine months that ended Sept. 30, 2008. Net sales for the third quarter of 2008 increased 10% to $435.7 million from $396.3 million in the third quarter of 2007. Operating income in the third quarter of 2008 increased 8% to $48.2 million, up from $44.5 million in the third quarter of 2007.

Curtiss-Wright Flow Control sales for the third quarter of 2008 were $216.2 million, up 13% over the comparable prior year period due to solid organic growth and the incremental contribution from a third quarter 2007 acquisition amounting to $9.8 million. Organic sales growth was 8% in the third quarter of 2008 over the comparable prior year period. This organic sales growth was led by higher sales to the power generation market, driven by revenues for CWFC's AP1000 reactor coolant pumps. In addition, the general industrial market growth was due to increased sales of mission critical motor-controls and protection product solutions. More…

Flowserve Has Record Third Quarter, Led By Bookings

(10/28/08) Flowserve Corp. had a record third quarter performance including earnings per share, sales and bookings. The company announced third quarter fully diluted EPS of $2.04, up 86%, and operating income of $163.6 million, up 51%, both over the third quarter of 2007. This earnings growth significantly outpaced strong quarterly sales growth of 26%, compared to the same quarter of 2007, which was driven by a third quarter operating margin improvement of 240 basis points, to 14.2%.

Flowserve also posted record third quarter bookings of $1.37 billion, up 30%, 22% on an organic basis, over the prior year period, driven by continued strong growth of both its original equipment and aftermarket business. The company indicated that the bookings growth was led by the Flowserve Pump Division bookings increase of 44%, 35% on an organic basis. Flow Control Division bookings for the third quarter of 2008 increased to $368 million, up $44 million, or 14%, including currency benefits of approximately $14 million; while the Flow Solutions Divisions bookings for the third quarter of 2008 increased to $173 million, up $14 million, or 9%, including currency benefits of approximately $6 million. More…

Tyco’s Crosby Valves & Controls Looking to Build New Facility

(10/23/08) Mansfield News & Enterprise -- Crosby Valves and Controls, part of Tyco Flow Control, has been growing by leaps and bounds in recent years. In order to support their growing pressure valve production and testing capabilities, they're looking to build a new facility in Mansfield, MA. Crosby is currently located in nearby Wrentham. More…

Emerson Process Management Announce Strategic Alliance with Beamex

(10/22/08) Emerson Process Management and Beamex have announced a new strategic alliance that will deliver integrated asset management and calibration in regulated industries. The alliance combines Emerson's AMS Suite: Intelligent Device Manager with Beamex CMX Calibration Software to enable manufacturers to comply with industry regulations such as ISO 9001:2000, 21 CFR Part 11 and IEC 61511.

Beamex is an international provider of calibration solutions for process instrumentation, offering products and services ranging from portable calibrators to workstations, calibration accessories, calibration software, industry-specific solutions and professional services. It has more than 10,000 customers worldwide, with products and services available in more than 60 countries. More…

Quadrant EPP, Newest VMA Associate Member

VMA is pleased to welcome a new supplier member: Quadrant EPP. Established in 1996, Quadrant develops, manufactures and distributes high-performance polymer materials in the form of semi-finished and finished products.

The company's official VMA rep is Eric Edwards, Global Market Segment Manager. Quadrant is located at 2120 Fairmont Ave., Reading, PA 77478 (phone: 281-565-6071). We look forward to meeting Eric and his colleagues at future VMA events!

ITT Reports Strong Third Quarter Earnings

(10/24/08) ITT Corp. reported third quarter 2008 income from continuing operations of $204.5 mln, or $1.11 per share. Adjusted to exclude special items, income from continuing operations for the quarter grew to $205.1 mln, or $1.12 per share, up 26% compared to the third quarter of 2007. Third quarter revenue was $2.9 bln, up 32% in total on a comparable basis, comprising 8% organic revenue growth, a 22% benefit from recent acquisitions, and 2% from foreign exchange. Excellent working capital has contributed to year-to-date free cash flow generation of $759 mln, representing a 127% conversion of income from continuing operations.

In Fluid Technology, third quarter revenues for the segment reached $949 mln, representing year-over-year growth of 11%. Top-line growth in the segment was driven by organic revenue growth of 8% compared to the third quarter of 2007, with balanced global contributions from North American and international markets. Order growth for the segment grew 6%, led by strength in the Industrial Process business. Segment operating income for the quarter was up 19% year-over-year, to $132 mln. More…

Flowserve's Cookeville Facility Receives Nuclear Quality Assurance Level 1 Qualification

(10/20/08) Flowserve Corp. announced that its Cookeville, TN plant has achieved Nuclear Quality Assurance Level 1 (NQA-1) qualification. This qualification enables Flowserve's valves to be used in the cleanup, or remediation, of contaminated facilities. The contaminants are collected and pumped to facilities where the vitrification process concentrates and fuses the radioactive materials into impermeable glassy solids, which can then be stored safely for thousands of years as the isotopes decay and ultimately become harmless. More…

ASCO Numatics Announces Winners of Industrial Automation Engineering Scholarships

(10/17/08) ASCO Numatics announced the winners of the 2008 ASCO Numatics Industrial Automation Engineering Scholarships. Michael J. Denk of Milwaukee, WI and Bradley A. Perry of Kirtland, OH will each receive a $5,000 scholarship. Additionally, ASCO Numatics will make $1,000 grants to the engineering departments of Marquette University and the University of Miami, where Denk and Perry are enrolled.

The scholarships were awarded on the potential for leadership and for making a significant contribution to the engineering and automation professions, particularly as they relate to the application of fluid control and fluid power technology. More…

Parker Hannifin Reports Record First Quarter Sales

(10/16/08) Parker Hannifin reported record first quarter sales, net income, earnings per diluted share and cash flow from operations for the quarter ending Sept. 30, 2008. Fiscal 2009 first quarter sales were $3.1 bln, an increase of 10% from $2.8 bln in the same quarter a year ago. Net income increased 9% to $250.2 mln from $229.6 mln in the first quarter of fiscal 2008. Earnings per diluted share increased 13.1% to $1.50 compared with $1.33 in last year's first quarter. Cash flow from operations was $307.3 mln, or 10% of sales.

In the Climate & Industrial Controls segment, first quarter sales increased 1.1% to $255.9 mln, and operating income remained the same at $15.5 mln, compared with the same period a year ago. Orders increased 5% in the Climate and Industrial Controls segment, compared with the same quarter a year ago. More…

Hemiwedge Enters Exclusive Licensing Agreement

(10/16/08) Shumate Industries, Inc. announced yesterday that its wholly-owned subsidiary, Hemiwedge Valve Corporation, has closed an exclusive worldwide licensing agreement with Tejas Research & Engineering and its affiliates in exchange for a one-time, upfront cash consideration of $3.5 million to HVC at closing. The agreement grants Tejas the exclusive use of HVC's Hemiwedge technology worldwide in the defined markets of sub sea and offshore, drilling and workover, above 5,000 psi, surface safety valves and all downhole applications.

In connection with this Agreement, HVC keeps its exclusivity on all of HVC's currently targeted markets for its Hemiwedge Cartridge valve product line, defined by HVC's ANSI class and API 6D certified products in markets such as process, petrochemical, chemical and onshore oil and gas applications. Tejas will take over responsibility for itself and its clients the development of the Hemiwedge technology in the Combined Fields of Use, while HVC will maintain a strategic alliance with Tejas for potential future technology development activities and engineering support.

Ken Chickering, CEO of Shumate Industries and former VMA Board Chairman, added, "We are pleased to announce this Hemiwedge technology transfer deal with Tejas and their affiliated companies. HVC also benefits from this deal as the capital received from this transaction will enable our company to focus growing our Hemiwedge Cartridge valve product line, without giving up any of the target markets that HVC has selected to focus in." More…

Cameron Valves Funding Approved for Louisiana Expansion

(10/14/08) According to WBRZ in Louisiana, the state will contribute "more than $7 mln to the major expansion of Cameron's valve manufacturing facility at the Ward 1 Industrial Park near Ville Platte," for a project that includes "construction of a 125,000-square-foot storage building." And thanks to a ruling by a local police jury, "Cameron could realize upward of $400,000 in tax breaks over a 10- to 15-year period." More…

Metso Delivering Automation Systems to Russian Pulp & Paper Mill

(10/14/08) Metso will supply several control systems and upgrades to the existing automation of Mondi Syktyvkar pulp and paper mill in Russia as a part of an extensive modernization project. The delivery includes software, project management and engineering, both factory and site testing, installation supervision and start-up assistance. Metso will also deliver approximately 900 control and automated on/off valves as well as 2,400 manual valves to the project. Mondi Syktyvkar is one of the largest producers in the Russian pulp and paper industry with one board machine and three paper machines. More…

Emerson Posts Big Profits in Latin America

(10/06/08) Emerson won't release its full fiscal year 2008 results until November but, according to the Latin Business Chronicle, their revenues in Latin America have shown a 15% increase during the first three quarters. In the Emerson Process Management segment, "sales increased by 23%, which was the highest growth anywhere worldwide and better than the company total of 18%."

"This is an excellent time to be in Latin America," says Leo Rodriguez, Emerson's Latin America president. More…

Garlock Completes Second Phase of Major Modernization Project

(10/02/08) Garlock Sealing Technologies has completed construction of a new facility for the production of its GYLON restructured PTFE industrial gasketing products. The new facility, which also will serve to consolidate all shipping and receiving activity for the company's Palmyra operations, will meet global demand for its GYLON products with the potential for significant expansion.

Begun in August 2007, the new plant represents the second major phase of a five-year, $30 mln modernization program of Garlock's 100-year-old industrial complex. The first phase, a new building for production of its Klozure dynamic oil seals, was completed in December 2006. More…

Rotork Controls Featured in Financial Times

(10/05/08) The U.K.'s Financial Times recently sat down with Peter France, CEO and managing director of VMA member Rotork Controls, to discuss the company's recent success in the U.S. amidst an impending recession.

"We are having a fantastic year in the U.S.," said France. "Of course, a period of weaker demand could be creeping up on us, that we just cannot see, but in most of the markets we are in, the number of projects we are working on is higher than a year ago."

"The world is short of energy and water," he said. "Demand for new equipment in these sectors is very strong. I feel we have a lot of opportunities in the next few years." More…

Emerson Process Management Monitoring More Than 180 Oil Wells

(10/01/08) Emerson Process Management has received orders from PDVSA, the Venezuelan state-owned oil company, for the first two phases of a program to install the company's wireless technology in the Morichal District oil fields. The orders include monitoring of over 180 wells by more than 600 Emerson devices in a self-organizing wireless network to help Morichal meet its government-mandated crude oil production goal of 150,000 bbl per day. More…

Curtiss-Wright Acquires UK's Mechetronics Ltd.

(10/01/08) Curtiss-Wright Corp. announced that it has acquired Mechetronics Ltd for $2.8 million. Mechetronics develops and supplies solenoids and solenoid valves for OEMs The business will become part of Curtiss-Wright's Motion Control segment.

Originally founded in 1918, Mechetronics is a leading solenoid supplier in the U.K. with expected sales of $11 million in 2008. Operations are headquartered in a 27,000 square-foot facility in Bishop Auckland, U.K., and include a new production facility opened in Zhuhai, China in 2007. Mechetronics employs 65 people. More…

Parker Hannifin Acquires Three Companies

(10/01/08) Parker Hannifin Corp. has acquired three companies whose total sales for their most recently reported fiscal years approaches a half-billion dollars: Legris, SA; Origa Group; and Hargraves Technology Corp.

Legris SA, headquartered in Rennes, France, is a manufacturer of fluid circuit components and systems for pneumatic, hydraulic and chemical processing applications. Origa Group is a manufacturer of rodless pneumatic actuators, electric actuators, FRLs (filter regulator lubricator), pneumatic cylinders and valves used in the transportation, semiconductor, packaging and conveying markets. And Hargraves Technology Corp. of Mooresville, NC, designs and manufactures miniature liquid and pneumatic diaphragm pumps, control valves and system solutions. More…

Crane Energy Flow Solutions Vincent Buffa Named New President

(10/01/08) Crane Energy Flow Solutions, a Crane Co. Company, is pleased to announce the appointment of Vincent Buffa to the position of president, Crane Energy Flow Solutions. Vince joined Crane in December 2007 as president, Crane Pumps & Systems where he has led targeted, customer- focused marketing strategies and directed Operational Excellence tools. Prior to coming to Crane last year, Vince had leadership roles in the Aerospace and Defense industries for Rexnord Aerospace, Honeywell, Smiths Aerospace and Allied Signal.

Flowserve Joins S&P 500

(09/29/08) Flowserve Corporation has been named to join the membership of the S&P 500 Index. The S&P 500 Index, according to Standard & Poor's, is widely regarded as the single best gauge of the U.S. equity markets. S&P has announced that companies selected for inclusion in the index are "not only considered leaders in their respective industry segments but also have been determined to add value to the worldwide equity markets." The S&P website states that investors, financial market analysts, government officials and others use the S&P 500 Index as a performance barometer of the equity markets and the U.S. economy as a whole.

"We consider Flowserve's inclusion in the S&P 500 as a reflection of our company's overall strength, continued strong performance and successful execution against our global strategy," said Lewis Kling, president and CEO. "Our strong position in our core markets has positioned us well to capitalize on the robust growth we continue to see in the global infrastructure markets." More…

Louisiana Governor Attends Cameron Valves Groundbreaking

(09/25/08) Last week, LA Gov. Bobby Jindal and Cameron Valves and Measurement President Jim Wright announced a $49 million valve manufacturing facility expansion in Louisiana's Evangeline Parish. In addition to the new 125,000-square-foot building in Ville Platte, the expansion will increase Cameron's large-bore valve capacity, streamline manufacturing processes and improve efficiency.

"This expansion project is Cameron's second largest manufacturing capital investment worldwide. The expansion will secure Ville Platte's future in the valve manufacturing industry," said Cameron Valves and Measurement Plant Manager Josh Stanford. More…

ITT Introduces ITT Watermark

(09/24/08) With ITT Watermark, ITT is committing $3 million over the next three years to bring safe water, sanitation and hygiene education to 300 schools in water-stressed regions of the developing world-a pledge that will ultimately improve the lives of more than 100,000 children and their families.

In 2008, Water For People, a leading non-profit organization, will begin this work with ITT in 40 schools in West Bengal, India; Quiche, Guatemala; and Yoro, Honduras. Schools in these areas were identified by Water For People because of their current lack of safe water infrastructure and adequate sanitation facilities. ITT's support will help build new local infrastructure to bring water and sanitation to remote rural areas, update existing systems in need of repair and assist in developing innovative hygiene education techniques. More…

Emerson Process Management Announces New Executive Appointments

(09/22/08) John M. Berra, president of Emerson Process Management, announced that Steven A. Sonnenberg (pictured) will become executive vice president of Emerson and business leader of Emerson Process Management, serving as president. Berra, who has been business leader since 2000, is taking a new role as chairman of Emerson Process Management to focus on strategic planning, technology, key customer relationships and organizational planning.

Michael H. Train, president of Emerson Process Management Asia Pacific, will become president of Rosemount and will return to the U.S. from Singapore. Gene Shanahan, group vice president for the Emerson Process Management Flow Group, will retire Oct. 1, 2008 after 21 years of service to Emerson. Larry W. Flatt will replace Shanahan effective Oct. 1, 2008. More…

Metso Automation Acquires Paper Quality Control Business

(09/17/08) Metso has acquired a paper quality control business from Finnish Fastpap Oy Ab. The company has been manufacturing and assembling the measuring scanners used in Metso's Quality Control Systems (QCS) as well as providing after- sales services. The Ylöjärvi, Finland-based business operations will be integrated into Metso Automation's Process Automation business line. Manufacturing will continue in Ylöjärvi after the acquisition, and the unit's 11 employees will continue working for Metso Automation. More…

Crane Acquires Delta Fluid Products

(09/15/08) Crane Co. has purchased all of the capital stock of Delta Fluid Products Limited, a designer and manufacturer of regulators and fire safe valves for the gas industry, and safety valves and air vent valves for the building services market, for a purchase price of approximately $28 million in cash on a debt-free basis.

Delta Fluid Products' office and manufacturing operation is located in St. Helens, England, where it employs approximately 220 people. Delta's 2008 sales are estimated to be approximately $37 million. More…

VanAire Names Sanville New CEO

(09/13/08) In the wake of the unexpected death of founder and former president and chief executive officer, Richard "Dick" VandeVusse, VanAire has announced that Mike Sanville has taken over as the company's CEO. The Daily Press in Escanaba, MI writes, "Sanville was previously vice president of VanAire's environmental systems group. He said there is currently a booming market for companies with an environmental focus."

"It's been going very smoothly, Mike stepped right in," said Beverly VandeVusse, president of VanAire since her husband Richard's death. "His abilities and his strengths helped during the difficulty of that time after Richard's death." More…

Lew Babbidge Memoriam Postponed Due to Hurricane

The Lew Babbidge celebration, originally scheduled to take place on Saturday, Sept. 13, has been postponed because of Hurricane Ike. The tentative new date is Sunday, Oct. 5, 2 to 4 pm, at the same location (16500 Houston National Blvd., Houston, TX 77095). We will verify this date with the folks at the Score Group next week, and let you know for certain in next week's QuickRead, as well as posting the final date on the Members Only page of VMA.org.

Tyco Increases Quarterly Dividend By 33%

(09/09/08) Tyco International's Board of Directors approved an increase in the company's quarterly dividend to 20 cents per share for the first quarter of fiscal 2009. The new quarterly dividend represents a 33% increase over the current quarterly dividend of 15 cents and follows a 36% dividend increase announced in September 2007. The new 20-cent dividend for the first quarter of fiscal 2009 will be payable on Nov. 3, 2008 to shareholders of record on Oct. 1, 2008. More…

Parker Hannifin Acquires Composites Technology Company

(09/04/08) Parker Hannifin Corp. has acquired Lingk & Sturzebecher of Stuhr, Germany. The acquired company, known regionally as L&S, is a manufacturer of lightweight carbon fiber high-pressure cylinders and actuators, including those based on composite technologies, for aerospace, mobile and industrial markets. This composite material technology will enable Parker to develop hydraulic components with significantly reduced energy burden for the power systems of machines equipped with hydraulics.

Terms of the transaction were not disclosed. L&S will become part of the global operations of Parker's hydraulic technology business. More…

Mueller Water Products Names Robert Leggett Chief Operating Officer

(09/02/08) Robert G. Leggett has been named chief operating officer of Mueller Water Products, the company announced this week. He will be responsible for the day-to-day operations of Mueller Water Products' three divisions: Mueller Co., U.S. Pipe and Anvil, Int'l., with the division presidents reporting directly to him.

Leggett, 49, has more than 25 years of general management experience, including operations, marketing and new product development, with a demonstrated ability to drive organic growth, strengthen channels of distribution and improve profitability. Most recently, Leggett was senior vice president Americas & Europe for Armstrong Building Products, the $1.2 bln division of Armstrong World Industries. More…

Hans D. Baumann Honored for Lifetime of Service to Valve Industry

(08/29/08) The ISA Honors and Awards Committee has bestowed the honor of Honorary Member on Dr. Hans D. Baumann, P.E., a consultant for H.B. Services Partners LLC. The citations reads: "For contributions in the advancement of the arts and sciences of automation throughout a five decade career of invention, design, writing, consulting and business leadership."

Baumann is well known throughout the valve community. He served as Senior VP of Fisher Controls International-Emerson Process Controls and in 1977 started his own control valve manufacturing company, which he later sold to Emerson Corp. In addition, he served in managerial capacities for valve companies in the US, France and Germany. He is credited with over 150 worldwide patents, 120 publications and is author of a number of books, mostly related to valve design and applications. An awards ceremony will be held on Oct. 13, 2008 in Houston, TX.

Flowserve Forms Joint Venture with Linde Group

(08/28/08) Flowserve Corp. has entered into a joint venture agreement with The Linde Group, a world-leading gases and engineering company, to commercialize and deploy iKompressor natural gas and biogas refueling systems. Called Flowserve Compression Systems GmbH, the joint venture plans to deliver at least 70 iKompressor refueling systems by 2009 to Germany, Austria and neighboring European Union countries. More…

Former VMA Man-of-the-Year Lew Babbidge Passes Away

With deep sadness we report the passing of Lew Babbidge, VMA's 1990 Man-of-the-Year. Lew was currently employed by the U.S. Division of the Score Group and was visiting the company's head office in Peterhead, Scotland when he died of a heart attack. His wife Bay was with him when he passed away.

Previous to working for Score, Lew was employed by VMA members Tom Wheatley Valve and Daniel Industries. He was very active in VMA's committee structure and instrumental a number of years ago with our tabletop programs.

Because of the difficulties associated with transportation of a body from Scotland to Houston, the family decided to have him cremated, as was his wish, in Scotland. His son and daughter joined his wife in Scotland where a memorial service was held. A similar service will be held in Houston at a date and time to be determined. VMA will forward details when the details have been finalized.

Velan Reports 2008 Fiscal Results, Announces Expansion

(08/22/08) Velan Inc. reported financial results for the fiscal year ended May 31, 2008, with net earnings of $12.5 million, or $0.56 per share, compared to $18.4 million, or $0.82 per share in the preceding year. For the fourth quarter, net earnings amounted to $7.3 million, or $0.33 per share, versus $6.9 million, or $0.31 per share, in the preceding year.

Sales for the year reached $470.7 million, the highest sales in the company's history, and an increase of 12.5% over last year. This growth was achieved despite the continued strengthening of the Canadian dollar, which increased an average of 12.1% against the U.S. dollar, the currency of most of the sales. The global demand for valves continues to be strong in the company's main markets. More…

(08/28/08) Velan Inc. also announced an important expansion of its three Montreal plants in Saint-Laurent, which will include additional plant facilities, machinery and equipment to increase capacity, improve productivity and enhance the company's R&D capabilities. The total cost of this project will be approximately $25 million over the next three years. More…

Emerson Process Management Opens Marine & Offshore Engineering Center in Oslo

(08/25/08) Emerson Process Management is opening a new engineering center in Oslo, Norway, responsible for providing front-end engineering services and project management expertise to the Marine and Offshore industry. The center will build on experiences gained from hundreds of offshore installations to provide installations that reduce the time and cost to extract oil and improve the performance on board. More…

McJunkin Red Man Planning $750 mln Public Stock Offering

(08/22/08) The Associated Press is reporting that valve distributor McJunkin Red Man Holding Corp. "is planning a $750 million initial public stock offering to capitalize on the market for energy stocks."

Tudor Pickering analyst Jeff Tillery says selling pipes, valves and the like to the energy industry is a relatively small slice of the oil and gas pie. "It's fairly low margin, but it can be decent returns," he said.

In the SEC filing, McJunkin says it has "become the largest North American distributor of pipes, valves and fittings and related products and services." More…

ITT Calls for Investment, Cooperation at World Water Week in Stockholm

(08/20/08) ITT Corporation executives emphasized the need for greater investment in infrastructure, education and new technology solutions for emerging economies, as well as encouraged dialogue among key stakeholders at the World Water Week conference in Stockholm.

"Responsible management of the water cycle has global implications as water resources become scarcer," said Gretchen McClain, president of ITT's fluid technology business. "Business, government and other interested stakeholders must be in a position to invest in infrastructure and technology to provide clean water, and to educate citizens on the importance of clean water and sanitation. The benefits of sustainable water management will be felt across society and around the world, through healthier populations and stronger economies. It's critical that all key stakeholders maintain an ongoing dialogue to ensure efficient use of financial and natural resources to bring clean water and sanitation to more people." More…

Curtiss-Wright Awarded Large Contract for Automated Coke Drum Unheading Systems

(08/18/08) Global Supplies has awarded Curtiss-Wright Corporation a multi- million dollar contract for 10 top and bottom DeltaGuard automated coke drum unheading systems. The units are expected to be installed at the Essar Oil Vadinar Refinery located in Gujarat, India by October 2009.

Global Supplies of Dubai, UAE is the international procurement arm of Essar Global Limited, a diversified corporation with a portfolio of assets in a variety of manufacturing and services sectors. Essar Oil Limited is a fully integrated oil company in the corporation's energy sector. More…

Emerson Process Management Honored by MBT

(08/01/08) Manufacturing Business Technology has awarded Emerson Process Management, along with Honeywell Process Solutions, an MBT Innovation Insight Award in the product category for Emerson's Smart Wireless network.

"Wireless technology certainly isn't new. Warehouse workers have been using handheld scanners for years to track goods. And with the advent of smart phones, executives can do everything from access email to monitor performance by tapping into enterprise and business intelligence solutions. What makes the Emerson and Honeywell wireless networks unique is their ability to work consistently and reliably in areas previously considered impossible." More…

SPX Revenues Up 29%, Segment Income Up 40%

(07/30/08) SPX revenues increased 28.8% to $1.56 bln from $1.21 bln in the year-ago quarter. Organic revenue growth was 3.7%, while completed acquisitions and the impact of currency fluctuations increased reported revenues by 20.6% and 4.5%, respectively.

Flow Technology revenues for the second quarter of 2008 were $546.5 mln compared to $278.1 mln in the second quarter of 2007, an increase of $268.4 mln, or 96.5%. Additionally, organic revenue growth was 14.4% in the quarter, driven primarily by strong demand in the power, oil and gas, and sanitary markets. The impact of currency fluctuations increased revenues by 3.5% from the year-ago quarter. More…

Curtiss-Wright Flow Control Names Clifton D. Jacobs VP of Operational Excellence

Curtiss-Wright Flow Control (CWFC) has named Clifton D. Jacobs its new Vice President of Operational Excellence. He will report directly to CWFC President David Linton and will be responsible for developing and implementing operational excellence initiatives and programs to drive business improvement across the organization and augment the company's plans to transform each of its business units into world-class performers.

Jacobs has more than 25 years of management experience. From 1999 to 2001, he served as General Manager of the Domestic Commercial Enterprise of Hamilton Sundstrand Electric Systems based in Rockford, IL, where he led the electric power generation business serving Boeing Commercial Aircraft Company. Most recently, he was Vice President and General Manager of Hamilton Sundstrand Electric Systems, where he was responsible for leading the aviation electric power business supplying all major commercial and military OEMs.

The Weir Group Reports Higher Orders, Revenues Than 2007

(08/12/08) The Weir Group's 2008 first half order input of £734 mln was 32% above the prior year period, and revenues from continuing operations increased 46% to £632 mln. Order input for the Power & Industrial division, which includes the valve group, grew 52% to £158 mln.

The Power & Industrial Division revenue increased 10% to £100 mln with significant growth in the power markets in China, North America and the UK increasing power-related sales to £45 mln against £32 mln in the first half of last year. Operating profit increased 41% to £6.2 mln while margins increased to 6.2% against 4.9% in the same period in 2007. More…

Emerson Process Management Posts Strong Third Quarter Results

(08/05/08) Emerson Process Management's sales increased 18% and margin for the segment expanded 170 basis points for the third quarter. Underlying sales were up 13%, favorable currency translation added 6% and a divestiture, net of an acquisition subtracted 1%. Global demand continued to be strong, with underlying growth of 12% in the United States, 5% in Europe, 21% in Asia, 14% in Middle East/Africa, and 28% in Latin America.

Orders grew at a double-digit pace throughout the quarter driven by strength in the energy sectors, strong global positioning and market leading technologies. The margin expanded to 20%, driven by leverage on higher volume and reduced litigation expense versus the prior year quarter. More…

Garlock Sealing Technology Boosts EnPro's Second Quarter Sales

(08/05/08) Second quarter sales in EnPro Industries' Sealing Products segment reached $136.9 million, 16% better than the second quarter a year ago. Strong growth in a number of industrial sealing markets and contributions from acquisitions combined to provide about 11 percentage points of the growth, while favorable foreign exchange accounted for about 5 percentage points.

At Garlock Sealing Technologies, increased demand from power generation, hydrocarbon production and processing, and metals and mining markets, both in the United States and the rest of the world, benefited sales. Profits in the segment grew by 41%, to $31.2 million and margins increased to 22.8% from 18.7% a year ago as the segment benefited from better performances at Garlock. More…

Rotork Controls Revenue Up 15%, Operating Profit Up 24%

(08/05/08) Rotork Controls revenue increased by 15% to £91m compared with the prior period, with operating profit rising by 24% to £26m. Significant growth was recorded from offices in the UK, Spain, USA, Canada, Malaysia, China and Australia. Although the company experienced some cost pressures during this period, Rotork has continued to receive benefits from its procurement activities and operational gearing. As a result, the operating margin has increased to 28.4%. At the end of the half year, the order book was up 38% compared to 2007 year end.

In North America the company has seen increased investment in hydrocarbons reflecting the price of oil and the drive to increase capacity, improve refining efficiency and increase output. In addition the need to improve safety levels is encouraging plant owners to invest in automation. The water utilities--a significant part of Rotork's business in the US--continue to invest. The company has also increased its presence in the power market. Earlier in the period Rotork re- branded Jordan Controls as Rotork Process Control. More…

Parker Hannifin Surpasses $12 Billion in Sales

(07/31/08) Parker Hannifin Corporation reported results for the fourth quarter and for the fiscal year ended June 30, 2008. These results mark all-time records for Parker in annual sales, earnings and cash flow from operating activities. For the 2008 fiscal year, the company surpassed $12 billion in sales for the first time in its 90-year history. Sales reached a record $12.1 billion, an increase of 13.3% from the previous year, including 4.8% organic growth.

In the Climate & Industrial Controls segment, fourth- quarter sales decreased 0.8% to $289.5 million, and operating income decreased 19.8% from the prior year to $20.3 million. For the full year, Climate & Industrial Controls sales decreased 1.6% to $1.1 billion, and operating income decreased 27.7% from the prior year to $59.5 million. More…

Flowserve Reports Record Second Quarter EPS of $2.13, Up 92%

(07/30/08) Flowserve Corp. announced record second quarter performance including earnings per share, sales and bookings. The company announced second quarter fully diluted EPS of $2.13, up 92%, and operating income of $171.6 mln, up 77%, over the second quarter of 2007. This earnings growth significantly outpaced strong quarterly sales growth of 24%, compared to the same quarter of 2007.

Flow Control Division bookings for the second quarter of 2008 increased to $430 mln, up $115 mln, or 36%, including currency benefits of approximately $30 mln. The increase was generally attributable to sustained strength across all key end markets. Flow Control sales increased to $370 mln, up $85 mln, or 30%, including currency benefits of approximately $26 mln. More…

Tyco Flow Control Revenue Up 15%

(07/30/08) Tyco International Ltd. reported $0.41 in diluted earnings per share from continuing operations for the fiscal third quarter of 2008 and diluted EPS from continuing operations before special items of $0.88. Diluted EPS from continuing operations was negatively impacted by special items of $0.47 per share primarily for separation-related items and restructuring activities. Diluted EPS from continuing operations before special items increased 73%. Revenue increased 11% versus the prior year to $5.2 bln, with organic revenue growth of 6.2%.

Flow Control revenue increased 15% with organic revenue growth of 5.3% driven by continued strong growth in the Valves business, which grew 10% organically, and the Thermal Controls business, which grew 15% organically. More…

Cameron Second Quarter Earnings per Share $0.65 vs. $0.54 Last Year

(07/30/08) Cameron reported net income of $152 mln, or $0.65 per diluted share, for the quarter ended June 30, 2008, compared with net income of $123.2 mln, or $0.54 per diluted share, for the second quarter of 2007. The 2007 results included a gain of $0.03 per diluted share related to the favorable resolution of certain tax matters.

Total orders for the second quarter of 2008 were $1.80 bln, up 37% from year-ago levels. Both the Valves & Measurement group and the Compression Systems division posted the highest quarterly orders in their history, and the Drilling & Production Systems group orders exceeded $1 bln for the third consecutive quarter. More…

Cameron Acquires Fellow VMA Member DynaTorque

(07/28/08) Cameron has acquired the DynaTorque line of products and services from Hines Corporation. The business will now be offered through Cameron's Flow Control division, part of the company's Drilling & Production Systems group.

"The acquisition of DynaTorque is an excellent complement to the products and services offered by the Flow Control division," said Britt Schmidt, Cameron Flow Control president. "We are excited about the opportunities that the addition of DynaTorque provides to Cameron." More…

ITT Second Quarter Revenues Up

(07/25/08) ITT Corporation reported second quarter 2008 income from continuing operations of $224 mln, or $1.22 per share. Adjusted to exclude special items, income from continuing operations for the quarter grew to $219 mln, or $1.19 per share, up 38% compared to the second quarter of 2007.

Second quarter revenues for Fluid Technology topped $1 bln for the first time ever, representing year-over-year growth of nearly 17%. Top-line growth in the segment was driven by strong organic revenue growth of 10%, led by robust international sales. Segment operating income for the quarter was up 27%, on a comparable basis, to a record $139 mln. Operating margins improved 100 basis points to 13.5%, mostly attributable to price and productivity improvements. More…

Velan Awarded Nuclear Valve Contracts

(07/21/08) Velan SAS, Velan Inc.'s wholly owned subsidiary located in Lyon, France, has been selected by CNPEC (China Nuclear Power Engineering Co.) to supply high-pressure forged valves for six nuclear power plants in China. These nuclear power plant projects are located in Hong Yang He, Ning De and Yang Jiang, and the valves are required to be supplied during Velan's 2010 and 2011 fiscal years.

Velan SAS has also been awarded contracts by EDF in France for additional valves for the EPR (European Pressurized Reactor) Flamanville 3 and maintenance and services orders for the French nuclear power plants. The total value of these orders for China and France is approximately $72 mln and this brings the total nuclear backlog of orders in the company's French operations to about $168 mln. More…

Curtiss-Wright Flow Control Sales Up 39%

(07/24/08) Curtiss-Wright Flow Control sales for the second quarter of 2008 were $226.7 mln, up 39% over the comparable prior year period due to solid organic growth and the contribution from our 2007 acquisitions. Organic sales growth was 11% in the second quarter of 2008 over the comparable prior year period. This organic sales growth was led by higher sales to the commercial power market, driven by revenues for our reactor coolant pumps for the new AP1000 reactors being constructed in China, and higher sales to the oil and gas market due to increased demand for valves, coker deheading systems and services within this market.

Strong commercial sales were partially offset by lower sales to the defense market due to the timing of U.S. Navy procurement cycles, primarily from lower submarine and aircraft carrier work. In the second quarter of 2008, our 2007 acquisitions contributed $45.6 mln in incremental sales. Sales of this segment were positively affected by foreign currency translation of $0.3 mln in the second quarter of 2008 compared to the prior year period. More…

Velan Completes BPS Sale

(07/21/08) Velan has officially entered into a definitive agreement with BPS S.r.l. for the sale of its 50% interest in Velan S.r.l. BPS has paid $44.4 mln and Velan expects to record a gain of approximately $37.5 mln in the first quarter of its fiscal 2009 year.

Velan and BPS, which is owned by five senior executives of SRL, established SRL in 2003 to manufacture Trunnion Mounted API6D and 6A ball valves. SRL, whose name has been changed to Valbart, will continue to supply valves to the Velan Group. More…

Tyco Announces New $1 Bln Share Repurchase Program

(07/10/08) Tyco International Ltd. said Thursday that its Board of Directors authorized a new program to purchase up to $1 bln of the company's common stock. The company expects to repurchase shares from time to time based on market conditions. The new program is in addition to the current $1 bln program that was authorized in September 2007 and that is nearing completion. More…

Emerson Acquires TopWorx

(07/08/08) Emerson announced it has acquired fellow VMA member TopWorx. Terms of the deal were not disclosed. TopWorx becomes part of Emerson Process Management, expanding Emerson's valve instrument offering and extending the reach of Emerson's PlantWeb digital plant architecture to on/off valves and other instruments.

"It is exciting to join what I consider the best and most progressive company in our industry," said Charlie Marcum, president of TopWorx. "Emerson Process Management's global reach and technology leadership will accelerate our growth and broaden our product offering, enabling us to serve customers even better than before." More…

Tyco Flow Control Opens Larger Service Center in Texas

(07/03/08) Tyco Flow Control opens its new 42,000 sq. ft. service and repair center in Pasadena, TX on July 15. The new facility will provide all service and repair operations previously performed at the Pasadena distribution center. The new center is located at 9560 New Decade, Pasadena, TX.

The expansion allows the company to continue providing ongoing service for pressure relief valves and tank vents, and integrates its field service, quarter- turn, automation and control valve repair capabilities. Some of the square footage will be used for two new testing stands capable of testing valves up to 30 inches and for additional machining capabilities.

Parker Hannifin Breaks Ground on New European Headquarters

(07/01/08) Parker Hannifin Corporation recently held a groundbreaking ceremony as the first step in the construction of its new European headquarters in Etoy in the Canton of Vaud, Switzerland, located approximately 25 miles northeast of Geneva.

The planned 57,000 sq. ft. building will house up to 150 people over the next three to five years. A newly created shared services function will be located there to support Parker sales and manufacturing operations in Europe, the Middle East and Africa, covering 22 countries. In addition, employees of a new Swiss sales company, and a number of senior level Parker leaders from other Parker locations in Europe will operate out of the new facility. More…

Velan Announces Proposed Sale of its Jointly Held Italian Company

(06/30/08) Velan Inc. announced it has entered into a definitive agreement with BPS S.r.l. for the sale of its 50% interest in Velan S.r.l. The sale is subject to customary closing conditions including the securing of financing.

BPS has agreed to pay $44,068,293, and it is anticipated the sale will close by July 31, 2008. Velan expects to record a gain of approximately $37.5 million in the first quarter of its fiscal 2009 year.

Velan and BPS, which is owned by five senior executives of SRL, established SRL in 2003 to manufacture trunnion mounted API6D and 6A ball valves. SRL, whose name will be changed on the closing date, will continue to supply valves to the Velan Group. More…

ITT Opens New World Headquarters in White Plains, NY

(06/30/08) ITT Corporation opened the doors to its new world headquarters in White Plains, NY at 1133 Westchester Avenue. Approximately 185 ITT employees comprising the corporate staff and the headquarters staffs of the company's Fluid Technology and Motion & Flow Control groups will occupy nearly 100,000 sq. ft. in the facility. The group headquarters were previously located in Upper Saddle River, NJ, while the corporate headquarters had been based in nearby Harrison, NY.

ITT's new facility features natural light throughout the workspace, open areas and flexible conference room environments for increased collaboration, and advanced technology systems. In addition, the global headquarters will be home to the ITT Learning Center, a state-of-the-art educational facility for employee training and leadership development. More…

Mueller’s Doyce Gaskin Passes Away

(06/27/08) Doyce Gaskin, president of Mueller Co., died Tuesday in Birmingham, AL after a brief illness. Doyce was named president of Mueller Co. in November of last year, but his many contributions to Mueller Co. go back more than 30 years.

Dale Smith, chief executive officer of Mueller Co., has assumed Gaskin's responsibilities.

Funeral services were Friday at 11 a.m. at Albertville Memorial Chapel with burial at Hillcrest Cemetery. Visitation is set for today at 5 p.m. for family and from 6-9 p.m. for friends.

Doyce was a trusted colleague. More importantly, he was a husband, father and a friend to all those who had the good fortune to have known him. More…

Former Rotork CEO Bill Whiteley Joins Renishaw PLC

(06/20/08) Until his retirement in May 2008, Bill Whiteley was the chief executive of Rotork, where he had been a director for 24 years. During this period, he managed Rotork's business during a period of major expansion, both geographically and in product lines. Now, Whiteley will be joining Renishaw PLC's Audit Committee and Remuneration and Nomination Committee.

He is also the senior independent director and chair of the Audit and Remuneration Committees of Spirax Sarco plc; a non-executive director and chair of the Remuneration Committee of Dialight plc; and will serve as a non-executive director of Brammer plc, effective July 1. More…

Garlock Forms Applications, Engineering, Training Unit

(06/17/08) Garlock Sealing Technologies has formalized its applications engineering, training and customer support functions with the creation of a dedicated unit under the leadership of Matt Tones, a 15-year veteran and third-generation employee of the company.

The new unit will work on a cross-functional basis with Garlock's engineering, product development, customer support, sales and marketing departments to bring the company's extensive knowledge base to these activities. In addition, it will provide Garlock customers with technical support, training, failure analysis and product recommendations. More…

Spirax Sarco Celebrates Milestones in SC

(06/14/08) On May 16, Spirax Sarco employees and other special guests, including Rep. Joe Wilson (R-SC), celebrated numerous milestones in Blythewood, SC. Not only is the company observing its 100th anniversary, but the Blythewood facility is celebrating its 10th anniversary. Plant Engineering magazine also took the opportunity to officially present the company with its 2007 Top Plant award. More…

Metso Completes Acquisition of MAPAG Valves GmbH

(06/13/08) Metso has completed the acquisition of MAPAG Valves GmbH, a manufacturing company of butterfly valves, from the Linde Group of Germany. The ownership of the company was transferred to Metso on June 12, 2008 after receiving the required regulatory approvals.

The acquired company will be integrated into Metso Automation's Flow Control business line and all of its nearly 100 employees will be transferred to Metso Automation. In connection with the transaction, the parties have also signed a long-term partnership agreement. More…

ITT Providing Safe Drinking Water in China

(06/12/08) ITT Corporation has donated eight of the company's portable water purification units and replacement parts to areas of southwest China affected by the devastating earthquakes. The equipment arrived in Sichuan Province and will be installed and used at selected relief shelters. The donated equipment, valued at $290,000, will provide nearly 55,000 liters of safe drinking water per hour for quake victims living in the shelters, enough to satisfy more than 200,000 people. ITT executive leaders and technicians are currently in Sichuan to train local workers to operate the equipment. More…

Tyco Valves & Controls Opens Branch in South Africa

(06/09/08) Tyco Valves & Controls Distribution has announced the opening of a new branch in Cape Town, South Africa, with a view to providing better support to customers in the Western Cape and growing the installed base of valves and actuators. More…

Metso Acquires Danish Kemotron A/S

(05/30/08) Metso has acquired a Danish manufacturer of measurement systems, Kemotron A/S from K. Jested-Nielsen and J.J. Lorentzen, the founders of the company. The value of the purchase agreement is not disclosed. The acquired company will be integrated into Metso Automation's Process Automation business line.

Kemotron produces and sells measurement equipment and systems mainly for the pulp and paper industry. Its measurement technology is also widely used in the process, energy and chemical industry. The company was established in 1963; it is headquartered in Lyngby, a suburb to Copenhagen. More…

Emerson Expands Alliance with Wärtsilä

(05/28/08) Emerson Process Management and Wärtsilä are expanding their global offshore alliance. Under this expansion, they can now deliver integrated energy and automation systems for Floating Production Storage and Offloading (FPSO) vessels and semi-submersible oil and gas drilling rigs. The alliance will also enable the two companies to offer system engineering, purchase, installations, commissioning and servicing for this market. More…

Metso Expands its Production Capacity in China

(05/23/08) Metso will expand its production capacity and office facilities in Shanghai, China, through an investment of 20 million euros. Metso will establish new facilities for Metso Automation's valve factory and supply center, for automation system production, and for sales, a project unit and engineering in China. About half of the investment will be allocated to a new office and factory building; the rest will be spent on acquiring machinery and equipment and on building the factory infrastructure.

The building plans will be completed late this year and the actual construction will begin next year. With the investment, Metso is responding to the rapid growth in demand for automation valves and systems, particularly in China's energy, oil and gas industry. It also enables the development of a global supply chain for valve production. More…

McWane’s Amerex Forms New Division

(05/23/08) Janus Fire Systems, a company in the fire suppression industry, has joined VMA member McWane as a division of Amerex. Product lines for Janus Fire Systems, which offers special hazard fire protection products and services worldwide, include FM-200, CO2, foam and water-based fire suppression systems, and alarm and detection devices. More…

Flowserve Supplies Valves for Two Chinese Nuclear Power Plants

(05/22/08) Flowserve Corporation confirmed it will supply main steam isolation valves for the first two Westinghouse Electric Company AP1000 nuclear power plant projects in China as part of a multi-million dollar contract. The Flowserve valve is the first valve purchased for use with the new Westinghouse AP1000 reactor.

The plants are to be located in Sanmen, Zhejiang province, and Haiyang, Shandong Province. The first of these new facilities is expected to be operational in 2013, the second in 2014. Flowserve booked this Westinghouse order during the first quarter of 2008. More…

Cameron & MaxTorque Reach 3-Year Agreement

Cameron has signed a three-year partnership agreement with MaxTorque, LLC to supply gear operators for Cameron's pipeline ball valves.

"Incorporating MaxTorque's high-p