Emerson Expands Manufacturing Operations in Minnesota

Emerson Process Management will expand capabilities for its Rosemount operations with the addition of a 500,000-square-foot building in Shakopee, MN, a suburb of the Twin Cities. The expansion will be accomplished in phases over the next five years and will include a capital investment of up to $70 million and the addition of up to 500 new, highly skilled jobs. The expansion comes on the heels of the company’s recent $40 million investment to upgrade Rosemount’s existing Eden Prairie and Chanhassen, MN facilities.

The new location will become Emerson’s global headquarters for Rosemount measurement technologies. This expansion, along with existing facilities in Eden Prairie and Chanhassen, will support a 10-year growth plan for Rosemount technologies.

Emerson Process Management currently has approximately 2,600 employees in Minnesota, including more than 2,000 employees who work in the Rosemount measurement business in the Eden Prairie/Chanhassen area. Rosemount was founded in Minnesota in 1956 and acquired by Emerson in 1976.

Metso Supplying Valves for Sierra Gorda’s Desert Mining Project in Chile

Sierra Gorda Sociedad Contractual Minera (SCM) has chosen Metso to supply control and on/off valves to the Sierra Gorda copper/molybdenum mining project which is currently under construction in the Atacama Desert in Antofagasta region, North of Chile. The valves will be used to control the flow of process and make-up water for a variety of applications in the mine.

The Atacama Desert is one of the driest regions on earth. Precipitation is extremely rare and there is no surface water at the project area. Therefore, the project will rely heavily on sea water delivered via a 350 kilometer long pipeline from the Pacific Ocean. To combat the highly corrosive effects of seawater, Metso will provide valves constructed of SMO254tm austenitic stainless steel, which is highly resistant to the effects of chlorides.

The Sierra Gorda mining facility is expected to process 110,000 tons per day (t/d) of mineral and its operations will begin late in 2014. The anticipated life of the project is 21 years and the equipment supplied has a 25-year life expectancy.

Emerson Process Management Supplying Valves & Actuators to Australia’s Gorgon Project

Emerson Process Management has been awarded contracts by Chevron Australia Pty Ltd, valued at $67 million, to provide control valves and valve actuators to help ensure the efficient and safe flow of natural gas at the Gorgon Project, one of the world’s largest natural gas projects. Emerson Process Management is providing the majority of the control and shutdown valves.

In addition to support from Emerson Process Management’s engineering, development, and manufacturing facilities in Australia, Emerson is working with its local business partner of 20 years, Perth-based Western Process Controls, to provide training that will help the Gorgon Project’s instrument and valve technicians ensure smooth commissioning and maintenance best practices.

ValvTechnologies Names Edward Ferris as Vice President of Human Resources

ValvTechnologies, Inc. has named Edward Ferris as Vice President of Human Resources, announced company President Kevin Hunt.

Based in Houston, Ferris will report to Kevin Hunt and be responsible for global human resource management, organization development and training, and environmental health and safety. In this role, he will lead the development of the organizational capability required to support the continuing growth and globalization of the company.

Ferris previously served as Senior Vice President of Corporate and Organization Development at Del Global Technologies Corporation. Additionally, he has held executive human resource positions at ABB, General Signal Corporation and British Telecom. His roles included human resource management of locations in more than 44 countries on six continents.

ValvTechnologies Opens New Facility in India

ValvTechnologies has opened a new assembly and global sourcing facility in South Indian Metro City, India, to meet growing demand for its valves and to help reduce logistics costs for customers in the Middle East, Asia and Australia.

According to Prabhakar Seetharaman, Managing Director, ValvTechnologies Private Limited, the new plant will produce 100 to 120 valves per month with initial focus on the company’s V1 Series valves.

“Our new India operation will serve as the hub for ValvTechnologies sourcing in this part of the world,” explained Seetharaman. “With onsite vendor selection, project monitoring and product inspection, our customers will see reduced costs and faster delivery. This is key to growing our sales in Australasia.”  

David J. Linton Resigns as President of Curtiss-Wright Flow Control

Curtiss-Wright Corporation announced that David J. Linton has resigned as President of its Flow Control segment, effective May 6, 2013, in order to pursue other opportunities. By mutual agreement, he is stepping down as part of the reorganization of the operational management structure as announced in October 2012.

President and COO David C. Adams will assume day-to-day management of Flow Control until a permanent replacement is named. As COO, Adams has responsibility for Flow Control as well as the Company's other two operating segments, Controls and Surface Technologies.

"We thank David Linton for his contributions to the Flow Control segment, which he joined as President in May 2004," said Martin R. Benante, Chairman and CEO of Curtiss-Wright Corporation. "We wish him the best in his new endeavors."

"It has been a privilege for me to work with many fine colleagues at Curtiss-Wright," said David Linton. "I am proud of the company's many accomplishments to date, and look forward to its continued success."

ValvTechnologies Secures Major Contract for TVA Watts Bar 1 & 2 Nuclear Site FLEX Upgrades

ValvTechnologies is playing a major role in the implementation of TVA’s Watts Bar 1&2, FLEX initiatives. WB1 has been in operation since 1996 and is the latest domestic commercial plant to come on line. WB2 will be the first nuclear reactor to come online in the United States in nearly two decades with its scheduled completion in late 2015. It is located on a 1,770-acre (7.2 km²) site in Rhea County, Tennessee, near Spring City, between the cities of Chattanooga and Knoxville.

This is the company’s second assignment relative to the post Fukushima Daiichi response. The Nuclear Regulatory Commission’s (NRC) call for diverse and flexible coping capabilities, or FLEX strategy was developed to address the loss of cooling capability and electrical power resulting from a severe natural event – making U.S. nuclear facilities even safer.

Once finished, Watts Bar 2 is projected to produce 1,180 megawatts and create around 250 permanent jobs. The reactor is expected to begin operation in December 2015.

Crane Co. Announces CEO Succession Plan

Crane Co. announced that Eric C. Fast, CEO, will retire from Crane Co. in January 2014. Mr. Fast joined Crane in 1999 as President and COO and was promoted to CEO in January 2001. He will be succeeded by Max H. Mitchell, currently President and COO. Mr. Mitchell, 49, joined Crane in 2004 as Vice President of Operational Excellence, was promoted to President of Fluid Handling in 2005, became Executive Vice President and COO in May 2011, and was appointed President of Crane Co. in January 2013.

Fast will remain a member of the Board of Directors until January 2014, and Mr. Mitchell will replace him on the Board at that time.

Victaulic Makes Improvements to European Headquarters

Victaulic has expanded and refurbished its European headquarters as part of a major investment program. The facility supports customers within Europe, the Middle East, Africa and India.

Improvements to the premises, located near Gent, Belgium, include a 600 square-meter extension that provides customer demonstrations and installer training. Offices at the site, which Victaulic has occupied since 1998, have also been upgraded to better accommodate the company’s expanding workforce and offer additional meeting facilities.

This latest global investment follows the opening of a new Victaulic branch in Pune, India, at the end of 2012, along with new locations in Dalian, China; Queretaro, Mexico; and Chihuahua, Mexico.

Emerson Opens Americas Headquarters for Valve Automation Technologies & New Houston Manufacturing Facility

Emerson Process Management has opened its new $30 million Americas headquarters for valve automation technologies and a new, highly automated and sophisticated manufacturing facility in Houston to expand its services for the oil and gas and petrochemical industries.

Over the coming years, Emerson also plans to create 126 new jobs to go along with another $9.5 million capital investment to accommodate anticipated growth.

With the oil and gas industry representing 40% of Emerson Process Management’s sales, this new headquarters and manufacturing complex extends Emerson’s presence in Houston, which also includes the new $34 million Emerson Industry Center for Hydrocarbon and Energy that opened in early 2012.

The new valve automation complex encompasses 215,000 square feet of office and manufacturing space.

Metso’s Board Approves a Demerger Plan to Divide Metso into Two Companies

Metso’s Board has approved a demerger plan to transfer all the assets, debts and liabilities of Metso’s Pulp, Paper and Power businesses to a newly-formed company that will be named Valmet Corporation. An application will be made to list the shares of Valmet on the NASDAQ OMX Helsinki stock exchange. Following the demerger, Metso’s current Mining and Construction and Automation businesses would remain in the current company, which would continue to operate under the Metso name. Valmet would initially have the same ownership structure as Metso and would be totally independent without any cross-ownership between Metso and Valmet. Metso plans to hold an Extraordinary General Meeting on or about October 1, 2013 to decide on the demerger and other Board proposals based on the demerger plan.

Emerson Process Management Reports Second Quarter 2013 Results

Emerson Process Management sales grew 8%, as global oil and gas, chemical, and power industry investment remained solid. Underlying sales increased 9% with currency translation deducting 1%, led by 10% growth in the systems and solutions business. By region, 14% growth in Asia benefited from strong project activity in Australia; investment in the North Sea region and Russia drove 7% growth in Europe; and the U.S. decreased 1%, as higher natural gas inventories contributed to slower investment. Segment margin of 20.0% increased 170 basis points, as volume leverage, cost containment, and currency gains offset unfavorable mix from lower maintenance investment by customers. Growth is expected to remain stable in the near term despite difficult comparisons and moderating end markets, particularly North America.

Velan Releases Fourth Quarter, Fiscal Year Results

Velan Inc. announced its financial results for its fiscal year and fourth quarter ended February 28, 2013.

"We are pleased to have reached the $500 million sales milestone and we are starting this year with a good order backlog of $531 million. Our challenge will be to continue the high level of production of our complex project order backlog while using our shorter lead-times to increase our order bookings from last year's level," said president and CEO Tom Velan.

Net earnings amounted to $6.2 million or $0.28 per share compared to $7.9 million or $0.36 per share last year. The net earnings for the year were significantly impacted by an $11.7 million non-cash goodwill impairment charge related to the Company's 70%-owned Italian subsidiary, Velan ABV S.p.A. (ABV). Excluding this charge and other related fair value adjustments, the Company's adjusted net earnings amounted to $15.4 million or $0.70 per share compared to $5.7 million or $0.26 per share last year. Further adjusting for the results of ABV and foreign currency fluctuations, the Company's adjusted net operating results would have been $19.2 million or $0.87 per share this year compared to $12.5 million or $0.56 per share last year.

ITT Announces Solid Results for 2013 First Quarter

First-quarter revenue in ITT’s Industrial Process segment; which designs and manufactures industrial pumps and valves for the oil and gas, chemical, mining and industrial markets; was up 14% to $257 million. The increase reflects a 28% increase in organic global oil and gas shipments, as well as the impact from the company’s successful acquisition of Bornemann Pumps, partially offset by mining declines in emerging markets. Organic revenue was flat compared to the prior year.

Adjusted operating income increased 19% to $27 million, reflecting strong operating productivity and favorable sales mix that was partially offset by Bornemann Pumps impacts and the recent currency devaluation in Venezuela.

Metso Opens New Service Center in the Netherlands

Metso opened a new service center in Waddinxveen, the Netherlands, near the Rotterdam-Antwerp industrial area on May 30, 2013. The new service center supports the company’s strategy to grow its valve and field device service business globally and strengthens Metso’s service capabilities within the Benelux region for major petrochemical, energy, oil & gas and pulp & paper companies.

The new facility brings the total number of Metso’s automation service centers to 34 and automation service hubs to 87.

Curtiss-Wright Flow Control Reports First Quarter 2013 Financial Results

Curtiss-Wright Flow Control (CWFC) sales for the first quarter of 2013 were $311 million, an increase of $44 million, or 16%, over the comparable prior year period, aided by recent acquisitions as well as strength in several of the commercial markets. Within the power generation market, sales rose sharply due to strong aftermarket demand and technology upgrades supporting existing nuclear operating reactors as a result of a growing installed base, higher instrumentation and controls orders and solid sales of NETCO SNAP-IN® product used in spent fuel management..

Operating income in the first quarter of 2013 was $24 million, an increase of approximately $6 million, or 30% from the comparable prior year period, while operating margin was up 90 basis points to 7.8%. First quarter operating income from recent acquisitions was positive overall; however they were 100 basis points dilutive to operating margin. Excluding the effects of acquisitions, segment operating income increased 27%, while operating margin increased 190 basis points to 8.8% compared to the prior year period. The increase in operating income and operating margin is primarily due to higher volumes and improved profitability in the power generation business serving existing U.S. operating reactors as well as savings generated from prior year restructuring initiatives.

Kazakhstan Ambassador Tours ValvTechnologies Houston HQ

With increasing U.S. investment in oil and gas production in his country, His Excellency Kairat Umarov, Ambassador of Kazakhstan to the United States, recently came to ValvTechnologies world headquarters. The ValvTechnologies visit was one of several meetings with Houston based-companies organized by the Business Council for International Understanding.

ValvTechnolgies’ Kevin Crosby, chief financial officer, and Aart Schenau, general manager of oil and gas, toured the facilities with Umarov and discussed the need for safe and environmentally responsible production of natural resources in Kazakhstan. The two ValvTechnologies leaders also proposed advanced training for Kazakhstan’s young engineers in piping and valve technology.

Metso Reports First Quarter 2013 Financial Results

Net sales in Metso’s Automation segment were comparable to those seen in the first quarter of 2012 and totaled 184 million euros. Net sales in the Flow Control business decreased 5 percent, while those in the Process Automation Systems business increased 10 percent year-on-year. Net sales in the services business were similar to those seen in the first quarter of 2012 and accounted for 45 percent of the segment’s net sales.

Automation’s EBITA before non-recurring items improved 44 percent year-on-year, to 16 million euros, i.e. 8.8 percent of net sales. The Flow Control and services businesses had a positive impact thanks to improved gross margins, while Process Automation Systems was largely unchanged year-on-year.

Automation’s operating profit (EBIT) was 15 million euros, i.e. 8.1 percent of net sales.

The segment’s return on operative capital employed (ROCE) was 19.9 percent (15.0%).

Enthone Appoints Henri Sep Vice President of Global Marketing, Performance Coatings

Mr. Henri Sep was recently appointed Vice President of Global Marketing, Performance Coatings by Enthone Inc.

Mr. Sep joined Enthone in May 2011 as the Director of Marketing, Performance Coatings - Europe. During this time, he has led the Enthone European Marketing Team in delivering customer-focused solutions to OEMs, applicators and job shops that approve, specify and use the company’s wear resistant, corrosion protection, and decorative coatings for automotive, building hardware, heavy equipment, jewelry, and other surface finishing applications. Mr. Sep has more than 25 years of diversified experience in the global industrial environment encompassing numerous areas of expertise.

“I am excited about the potential impact Henri’s experience will have on our global Performance Coatings business,” said Rick Reagan, President of Enthone. “In his expanded role, Henri will enhance customer value and further solidify Enthone’s market leadership in electroless nickel, hard chrome and plating-on-plastics processes, while strengthening the company’s strong portfolio of zinc alloy systems and surface preparation processes.”

Mr. Sep will travel extensively throughout the world and will be based out of the company's Langenfeld, Germany and s-Hertogenbosch, The Netherlands offices.

Rotork Reports First Quarter Results

Rotork Controls order intake in the first quarter was 7.4% higher than the prior year. The Indian power market has not returned to pre-2012 levels and Europe remains subdued. However, other markets such as the USA have performed well. Project visibility supports confidence that activity levels should increase as the year progresses. The IQ3 is receiving positive feedback from customers and Rotork continues to ramp up production. The integration of Schischek, acquired in January 2013, is going well and the business is performing as expected.