02292020Sat
Last updateFri, 28 Feb 2020 5pm

Flowserve Reports Fourth Quarter and Full Year 2019 Results

Flowserve Corporation announced its financial results for the fourth quarter and full year ended December 31, 2019.

In the fourth quarter of 2019 Flowserve reported earnings per share (EPS) of $0.53, up 10.4% and adjusted EPS of $0.66, up 13.8%. Sales were $1.07 billion, up 8.2%, or 9.3% on a constant currency basis.

For the full year, Flowserve reported EPS of $1.93, up 112.1% and adjusted EPS of $2.20, up 25.7%. Sales were $3.94 billion, up 2.9%, or 5.4% on a constant currency basis and included approximately 0.8% negative impact related to divested businesses.


MRC Global Joins Valve Manufacturers Association

This week the Valve Manufacturers Association of America (VMA) welcomes MRC Global into the fold as an associate member in the distribution/channel partner category. MRC Global is the second new company to join the association this year.

MRC Global has been providing automated valves for more than 20 years, evolving from a simple bolt-up, quarter-turn shop into an advanced, fully integrated quarter-turn, multi-turn and linear automation provider with facilities worldwide. MRC Global serves the oil and gas industry across the upstream, midstream and downstream sectors as well as the chemical and gas distribution market sectors worldwide.

Metso’s Lebedeff Wins Corporate Counsel Award

Aleksanteri Lebedeff, senior vice president, general counsel of Metso Corporation, was granted recognition as one of the TOP 100 Corporate Counsel Award winners in Orlando on January 17, 2020.

The annual OnCon Icon Awards recognize the top corporate counsels globally. Winners are determined by peer to peer votes. This year's OnCon Icon Award Winners were determined from over 4,500 votes in total.

Lebedeff joined Metso in 1987. He has acted as Metso’s general counsel and secretary to the board since 2006.

Watson Grinding and Manufacturing Files for Bankruptcy

Following a deadly blast on Jan. 24, Watson Grinding and Manufacturing has filed for Chapter 11 bankruptcy protection in a Houston federal court due to what they anticipate will be “a long-term interruption of business operations.”

“Our hearts go out to everyone who has been affected by this tragedy and we are convinced that the best way to ensure our organization can play a positive role in the long-term recovery of the area is by remaining a viable business,” John Watson, CEO of Watson Grinding and Manufacturing, said in a statement. “We are a family business and through this reorganization, we intend to save the company and protect and restore the jobs for our dedicated and hardworking team.”

Emerson Partners with Belgian Brewery Research Group

Emerson is partnering with Ghent University and University College Ghent in Belgium, to revamp, automate and modernize a pilot brewery, including providing equipment and support services. The two institutions share a common brewery research group in the Laboratory for Brewing and Fermentation Science and Technology. The laboratory offers hands-on training using the latest digital automation technologies to educate the next-generation workforce, close skills gaps and enable digital transformation throughout the region’s brewing industry, where technology is key to keeping pace with the increasing demand for craft beer,

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