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Last updateFri, 19 Jul 2019 2pm

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Crane Co. Will Not Extend its Offer to Acquire CIRCOR

Crane Co. is ceasing its efforts to acquire CIRCOR International and will not extend its $48 per share tender offer scheduled to expire on July 19, 2019. Absent substantive engagement this week, Crane will cease its efforts to acquire CIRCOR and will not extend its tender offer, amended on July 8, 2019, to acquire all outstanding shares of CIRCOR. The tender offer is scheduled to expire at midnight on July 19, 2019.


Emerson Buys Zedi Software and Automation Businesses

Emerson has completed the purchase of Zedi’s software and automation businesses. The addition of Zedi’s cloud supervisory control and data acquisition (SCADA) platform will further enable Emerson to help oil and gas producers increase production and lower operating costs through cloud-based monitoring, control and optimization. Zedi’s software and automation businesses are based in Calgary, Canada, with approximately 155 employees in North America.

Flowserve Names Kirk Wilson President of Flow Control Division

Flowserve Corporation announces that Sanjay Chowbey will join Flowserve as president, aftermarket services & solutions, beginning Monday, July 15. Chowbey takes on the role previously held by Kirk Wilson, who will be the new president of Flowserve’s Flow Control Division, following the retirement of John Lenander.

Victaulic Acquires Globe Fire Sprinkler

Effective July 8, 2019, Victaulic has purchased Globe Fire Sprinkler. Combined, these two companies will have the resources and capabilities to bring new solutions to the fire protection industry around the world.

Steven Worthington, who will continue to serve the combined organization as President, Globe Fire Protection commented, "Victaulic brings additional financial resources to Globe, enabling added focus on innovation to support our customers and the industry."

John F. Malloy, CEO of Victaulic commented, "The addition of Globe's fire protection sprinkler volume and engineering capabilities will provide the scale and skills necessary to be a true leader in all aspects of the fire protection industry."

Metso Flow Control Separating, Renamed Neles

Metso and Outotec have agreed to combine Metso Minerals and Outotec to create a new company named Metso Outotec. Under the name Neles, Metso will continue as a separately listed entity focused on flow control, independent from Metso Outotec. Olli Isotalo, who was recently appointed President, Valves business area of Metso, will now become CEO of Neles and will join Metso’s management team as of July 15, 2019.

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