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Last updateThu, 05 May 2016 2pm

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Food and Beverage Processing

Food and Beverage Processing

When wandering the grocery store aisles,...

Variable Frequency Drives in Electric Actuators

Variable Frequency Drives in Electric Actuators

Electric actuators are vital for operati...

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Industry Headlines

A.W. Chesterton Expands Training and Services Facility

-1 DAYS AGO

A.W. Chesterton Company has expanded its facilities north of Boston with a new valve emissions testing facility, an expansive industrial training center and an industrial equipment service location to support its New England‐based customers.

The New England Service Center expansion provides mechanical...

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Spirax Sarco Supporting the Enbridge Ride to Conquer Cancer

17 HOURS AGO

Spirax Sarco USA is teaming up with Spirax Sarco Canada for the Enbridge Ride to Conquer Cancer. From June 11-12, 2016, participants will cycle 200 km with thousands of other men and women throughout the countryside of Ontario, Canada. All net proceeds will benefit Princess Margaret Cancer Centre.

Th...

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G7 Countries Vow to Support Energy Investments

14 HOURS AGO

Leaders from Canada, France, Germany, Italy, Japan the UK and the U.S. have pledged to “promote investing in energy projects through the oil price crash to ensure a steady stream of supply” and “encourage financial institutions to invest in energy projects and infrastructure,&rdquo...

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New Study Shows Demand for Natural Gas Will Grow

17 HOURS AGO

The National Association of Manufacturers (NAM) Center for Manufacturing Research and IHS Economics released a new comprehensive study that reveals how natural gas has strengthened manufacturing and encouraged U.S. manufacturing growth and employment and highlights the positive impact to communities a...

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U.S. Economy Grew 0.5% in First Quarter

1 DAY AGO

U.S. GDP increased at an annual rate of 0.5% in the first quarter of 2016, according to the advance estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 1.4%.

The increase in real GDP in the first quarter reflected positive contributions from personal consumpt...

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ISM: Manufacturing Activity Increased in April

2 DAYS AGO

Manufacturing expanded in April as the PMI registered 50.8%, a decrease of 1% from the March reading of 51.8%, indicating growth in manufacturing for the second consecutive month, following five consecutive months of contraction in manufacturing.

The Institute of Supply Management (ISM) reports that 15...

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Flowserve Corporation Reports First Quarter Results

In the Flow Control Division (FCD) of Flowserve bookings for the first quarter of 2012 were $380.1 million, an increase of $2.8 million, up 0.7%, or 2.6% excluding negative currency effects of approximately $7 million. FCD sales for the first quarter of 2012 were $363.9 million, an increase of $26.3 million, up 7.8%, or 10.2% excluding negative currency effects of approximately $8 million.

FCD gross profit for the first quarter of 2012 increased to $127.2 million, up $11.6 million or 10.0%. Gross margin for the first quarter of 2012 increased 80 basis points to 35.0%, which was primarily attributable to favorable product line and maintenance, repair and overhaul mix, improved absorption of fixed manufacturing costs, continued progress on low cost sourcing initiatives and benefits from pricing actions taken in 2011.

FCD operating income for the first quarter of 2012 increased to $55.7 million, up $8.2 million or 17.3%, including negative currency effects of approximately $1 million. The increase was primarily attributable to the increase in gross profit, partially offset by an increase in selling, general & administrative expense (SG&A) due to increased selling expenses in support of increased sales and increased research and development costs. Operating margin increased 120 basis points to 15.3%.

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