Emerson has completed the purchase of MYNAH Technologies, a long-time Emerson alliance partner. The addition of MYNAH will help support Emerson Automation Solutions and its Operational Certainty program. Terms of
were not disclosed.
MYNAH software is currently in use at more than ...
In its most recent annual meeting, Flowserve announced that Bill Rusnack and Lynn Elsenhans have retired as members of the board of directors. Flowserve also announced that board member Roger Fix has been
to replace Rusnack as chairman.
"Bill and Lynn provided years of distinguished service to ...
According to the
U.S. Energy Information Administration
, roughly 70% of petroleum-fired electric generating capacity that still exists today was constructed prior to 1980. Utility-scale generators that reported petroleum as their primary fuel comprised only 3% of total electric generating capacity at...
Affiliates of Exxon Mobil and SABIC (Saudi Basic Industries Corporation) signed an agreement to conduct a detailed study of the proposed Gulf Coast Growth Ventures project in Texas and begin planning for front-end engineering and design work. The
was signed during the Saudi-US CEO Forum in R...
The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index, which reports economic activity from 25 companies representing a cross section of the $1 trillion equipment finance sector, showed their overall new business volume for April was
$7.9 billion, up 8%
Emerson Process Management sales grew 19%, as global energy investments and backlog conversion related to the Thailand flooding generated robust growth. Underlying sales increased 23% and currency translation deducted 4%, with the U.S. up 29%, Asia up 25%, and Europe up 14%. Project activity in oil and gas, chemical, and power end markets continued at a brisk pace across all product lines. Segment margin of 23.1% increased 270 basis points from the prior year quarter, primarily driven by volume leverage and cost reduction benefits. Recovery of sales delayed by the Thailand flooding progressed as expected, contributing to strong volume leverage. Underlying orders, which exclude currency translation, grew 17% in the quarter, resulting in backlog remaining at a high level, and supporting a favorable outlook in Emerson Process Management for the next several quarters.