Last updateThu, 23 May 2019 6pm


Emerson to Modernize BASF Chemical Plant

As part of its five-year investment to boost capacity within its global plastics additives business, BASF has awarded Emerson a multi-million-dollar contract to modernize automation software and controllers at its specialty chemical production facility in Lampertheim, Germany. These enhancements will help the world’s largest chemical manufacturer increase production flexibility and enhance operations.

Emerson will also replace an obsolete system controlling the tank farm and distillation columns at the facility, which produces additives that improve characteristics for plastics and coatings.

Crane Co. Attempting to Acquire CIRCOR

Crane Co. has submitted a proposal to the Board of Directors of CIRCOR International, Inc. to acquire CIRCOR for $45 per share in cash. The proposal represents a 47% premium over Monday’s closing price and a 37% and 51% premium over a three- and six-month volume weighted average share price, respectively. This reflects an enterprise value of approximately $1.7 billion at a multiple of approximately 13.5x the last 12-month adjusted EBITDA.

Crane Co. proposed the all-cash transaction to CIRCOR’s President and CEO Scott Buckhout on April 30, 2019, the terms of which were confirmed by a letter to the CIRCOR Board of Directors. On May 13, the CIRCOR Board summarily rejected Crane Co.’s proposal with no offer of discussions or due diligence.

ValvTechnologies Achieves API 641 Certification

ValvTechnologies, Inc. has achieved American Petroleum Institute (API) 641 certification. The API 641 accreditation is one of three prevalent valve standards tests that evaluate fugitive emissions’ performance over an accelerated life cycle. Of the three, the API 641 Standard is the most stringent type test for quarter-turn valves and covers different designs, temperature ratings and sealing components. To pass this critical test, valves must meet the demanding criteria of maximum leakage of 100 parts per million by volume (PPMv), while undergoing 610 cycles of the valve under extreme temperatures.

Spirax-Sarco Completes Purchase of Thermocoax

Spirax-Sarco has completed the acquisition of Thermocoax Developpement and all of its group companies following regulatory approval in France, Germany and the U.S. Details of the acquisition were announced on February 18, 2019 and an update on the signing of a definitive binding agreement was provided on March 15, 2019.

Nicholas Anderson, Group Chief Executive of Spirax Sarco, said: "We are delighted to complete the acquisition of Thermocoax and welcome our new colleagues to the Spirax Sarco family. Thermocoax will enhance and add significantly to our electrical process heating business in delivering thermal energy solutions to customers. We look forward to leveraging the Spirax Sarco business model and our global footprint to further internationalise Thermocoax and to enhance and grow an already strong business."

AIV, Gulf Coast Modification Open New Houston Headquarters

AIV and Gulf Coast Modification Houston HQAIV and Gulf Coast Modification have opened a 320,000-square-foot warehouse, manufacturing and office headquarters at 22806 Northwest Lake Drive.

Custom-designed and built by KDW, the Houston Design/Build firm, the new facility near Telge Road and Highway 290 consolidates three separate Houston properties previously operated by the two companies. The new facility houses two stories of Class A office space, a dedicated warehouse space operated by AIV and a separate manufacturing space for Gulf Coast Modification.

“It’s good to be in our new home,” says AIV President Trey Cook. “Besides increasing our square footage to accommodate our growing inventory and modification capabilities, the new facility allows us to consolidate all of our operations under one roof.”

AIV and Gulf Coast Modification also operate U.S. locations in Odessa Texas, Chicago, Pittsburgh and Folcroft, Pennsylvania. Its global presence includes facilities in Canada, the United Kingdom, Dubai and Singapore with more than $90 million in inventory worldwide.  

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