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Derbyshire Machine & Tool Co. Joins VMA

This week, Derbyshire Machine & Tool Co. became a full member of the Valve Manufacturer’s Association (VMA). This is the 17th new member in 2014, noted VMA president William Sandler.

Founded in 1905, Derbyshire Machine & Tool provides a variety of products and other services to meet the needs of the U.S. Navy and marine industry from their 30,000 sq. ft. facility in Philadelphia, PA.  

Cameron Announces Record Second Quarter Revenues

Cameron reported earnings per share for the second quarter of 2014 of $1.00 excluding unusual items. This compares to earnings per share for the second quarter of 2013 of $0.77 excluding unusual items.

Revenues were a second quarter record of $2.64 billion, up nearly 20% from $2.21 billion a year ago. Cameron president and CEO Jack B. Moore noted that the Valves & Measurement group saw sequential revenue improvement, commenting: "Revenue gains were driven by record backlogs established in 2013, better efficiency within our manufacturing operations and record North American surface and valves orders and sales."

Total orders for the quarter were $2.44 billion, up from $2.24 billion a year ago, an increase of 9%. "Orders for the second quarter were driven by our drilling, surface and valves businesses", Moore said, "and with a more robust outlook for North America and several deepwater projects expected to move forward in the second half, we expect to see a record level of backlog at year-end." 

Crane ChemPharma & Energy Names Alejandro (Alex) Alcala President

Crane ChemPharma & Energy has appointed Alejandro (Alex) Alcala as president of its global business.

Mr. Alcala brings more than 20 years of relevant industry experience to his new role, having recently served as the president of Crane’s Pumps & Systems (CP&S) business. Prior to Crane, Alex had a successful 17-year career with Eaton Corporation. Alex held various operational and strategic marketing positions at Eaton. He started his career in operations and ultimately was promoted to plant manager for two of Eaton’s key manufacturing locations.

Alex Alcala completed dual Bachelors of Science degrees in Mechanical and Electrical Engineering, graduating with honors from Instituto Tecnologico Y De Estudios Superiores De Monterey in Monterey, Mexico. Alex has an MBA from the Ross School of Business at the University of Michigan. 

FCX Performance, Inc. Acquires Pump Energy, Inc.

FCX Performance, Inc. announced that it has completed the purchase of Pump Energy, Inc. (PEI). PEI is a leading distributor of pumps, seals and related aftermarket services.

Founded in 1978, PEI operates from two Texas locations in Stafford and Odessa and is recognized as one of the Gulf Coast’s leading rotating equipment distributor and service provider.

“We are very excited to announce this transaction with Pump Energy,” said Charley Hale, President of FCX. “Under the continued leadership of Ed Scala, Brad Dean and Gary Mason, PEI’s people and products will further our goal of being a one-stop provider of critical flow control & fluid processing equipment and services to our Gulf Coast customers”.

Hale added “that the two companies have very similar cultures that emphasize customer service, vendor relationships and a focus on providing long-term, career growth opportunities for our associates. We are very pleased to welcome the dedicated employees of PEI to the FCX family."

Flowserve Reports Second Quarter 2014 Results

Flowserve’s financial results for the first six months of 2014 are highlighted by fully diluted EPS of $1.67 per share, up 10.6%, on relatively flat sales of $2.3 billion. Gross profit of $807.4 million and operating income of $358.6 million represent margins of 35.2% and 15.6%, up 120 and 40 basis points, respectively. Bookings for the six months ended June 30, 2014 totaled $2.6 billion, up 7.0% or 8.1% on a constant currency basis.

In the second quarter of 2014, Flowserve announced fully diluted EPS of $0.90, up 7.1%, and included $0.03 per share of foreign currency, severance and realignment expense. Bookings of $1.38 billion, were up 12.6%, or 12.8% on a constant currency basis, and up 15.9% sequentially. Sales were $1.22 billion, decreased 1.2%, or 1.5% on a constant currency basis, and up 14.6% sequentially. 

New Products


Valve Magazine Digital Edition

14 SUM CVR 160x214Inside the Summer 2014 issue…

• Attracting Talent
• Advances in Machining
• Severe Service in Power Plants
• SIS Tests and Standards


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