06032020Wed
Last updateWed, 03 Jun 2020 2pm

DistributionNOW Company Moving to New Odessa Headquarters

Odessa Pumps, a DistributionNOW company, is consolidating its three current Odessa, TX locations into a new, larger headquarters, which will expand product and service capabilities for its customer base.

The facility, opening this month, will total 60,000 square feet and include machine shop space, warehouse inventory, office space and a classroom for customer and employee product training.

The move aims to create synergy with all Odessa employees under one roof, and it gives the company room to grow as it continues to expand its pump fabrication and service business.


Emerson Collaborating with QRI for Oil and Gas Industry

Emerson and Quantum Reservoir Impact (QRI) have teamed up to develop and market next-generation applications for artificial intelligence (AI)-based analytics and decision-making tools customized for oil and gas exploration and production (E&P).

As part of the ongoing collaboration, the companies will apply advanced computational technologies to help geoscientists and engineers make actionable and reliable field development decisions quickly, mitigating risks and leading to higher productivity and better performance.

Curtiss-Wright to Acquire Dyna-Flo Control Valve Services Ltd.

Curtiss-Wright Corporation has entered into an agreement to acquire the stock of Dyna-Flo Control Valve Services Ltd. for $62 million. The acquired business will operate within Curtiss-Wright's Commercial/Industrial segment and is expected to be accretive to Curtiss-Wright's 2020 adjusted diluted earnings per share, excluding first year purchase accounting costs, and produce a free cash flow conversion rate in excess of 100%. Dyna-Flo’s financials are not included in the company’s initial 2020 guidance.

Founded in 1993 and headquartered in Edmonton, Alberta, Canada, Dyna-Flo’s core product offering addresses the majority of control valve applications with designs ranging from compact low profile to heavy duty severe service. Dyna-Flo has approximately 120 employees and is expected to generate sales of approximately $25 million in fiscal 2020, principally to the general industrial market. The acquisition is expected to close in March 2020.

Metso’s Valve Services Involved in 250 Major Shutdowns in 2019

Customers in various process industries used Metso’s valve business, future Neles Corporation, in 2019 to secure approximately 250 major shutdowns globally. Metso offers valve services through 40 service locations around the world.

“We currently use diagnostic data, performance data and historical maintenance data to determine which valves need be maintained during shutdown. In the future, we want to be able to utilize this data even more effectively,” says Sami Nousiainen, VP of Valves Services at Metso.

New MRC Global EVP Youngblood to Assume Role as CFO

Kelly Youngblood joined MRC Global Inc. on November 18, 2019. Mr. Youngblood currently holds the title of Executive Vice President (EVP) until the retirement of James E. Braun, EVP and Chief Financial Officer (CFO), on March 1, 2020, at which time, Mr. Youngblood will assume the role of EVP and CFO.

Mr. Youngblood brings more than 30 years of energy and finance expertise to MRC Global. He joins MRC Global from BJ Services, LLC, the largest North American-focused pure-play pressure pumping services provider where he serves as EVP and CFO. Prior to being CFO at BJ Services, Mr. Youngblood was the Senior Vice President and CFO at Diamond Offshore Drilling, Inc. Before that, he held a variety of finance and accounting positions of increasing responsibility at Halliburton, including Vice President of Investor Relations, where he was awarded Institutional Investor magazine's Best Investor Relations for the Oil Services and Equipment Sector twice.

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