Last updateTue, 21 Feb 2017 8pm


Powell Valve Approves Flotech as Authorized Repair Facility

The Wm. Powell Company recently approved Flotech as an authorized modification and repair facility for Powell Valves.

“Flotech has been manufacturing and repairing valves for over 40 years. Adding another high quality valve manufacturer to the list of valve companies Flotech represents speaks volumes to our position as the valve experts in valve sales, automation and repair,” said John Allen Jr., vice president of operations at Flotech. 

CIRCOR Reports Fourth Quarter 2016 Financial Results

CIRCOR International, Inc. reports revenue of $158 million, GAAP EPS of ($0.12) and adjusted EPS of $0.48 in the fourth quarter of 2016. CIRCOR had an operating cash flow of $20 million and free cash flow of $17 million for the quarter. Cost control and restructuring actions continued to drive bottom-line performance. The company also announced that the integration of Critical Flow Solutions was progressing well. 

MRC Global Announces Fourth Quarter 2016 Results

MRC Global Inc. sales were $719 million for the fourth quarter of 2016, which were 26% lower than the fourth quarter of 2015 and 9% lower than the third quarter of 2016. As compared to last year, reduced customer activity across all segments and sectors drove the decline.

Net loss attributable to common stockholders for the fourth quarter of 2016 was $(24) million, or $(0.25) per diluted share, compared to $(399) million, or $(3.92) per diluted share for the same period of 2015. The fourth quarter of 2016 includes after-tax severance and restructuring charges of $7 million, ($0.07) per diluted share. The fourth quarter 2015 results include after-tax charges for the impairment of goodwill and intangible assets and other items of $411 million, ($4.04) per diluted share. 

Hunt Valve Company Acquires Precision Technology

May River Capital and Hunt Valve Company have purchased the assets of Precision Technology, a severe duty, solutions-based designer, manufacturer and supplier of linear motion actuators for automation, machinery, material handling and positioning applications. Precision Technology will be rebranded Hunt Valve Company - Actuator Division. This first add-on for the company complements Hunt Valve’s severe duty, fluid power engineering solutions for military and industrial customers. 

ITT Reports 2016 Fourth-Quarter, Full-Year Results

On a GAAP basis, ITT Corporation delivered revenue of $588 million in the fourth quarter of 2016, reflecting a 12% decline that included a 2% negative impact from foreign exchange. GAAP segment operating income decreased 12%.

In the Industrial Process segment, total revenue decreased 29% to $212 million, with organic revenue down 28%. Both measures reflect the impact of challenging conditions in the oil and gas, mining, and chemical and industrial markets on our projects, short-cycle pumps and aftermarket businesses.


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