02272017Mon
Last updateThu, 23 Feb 2017 7pm

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Emerson Expanding Mississippi Facility

Emerson plans on delivering $500,000 in new equipment to its facility in Sherman, MS. Because of this investment, and its promise of new jobs for the region, the Sherman Economic Development Corp. has approved $150,000 in grants for Emerson.

"We have a relatively new Fisher product that will be relocating from an existing facility that is a better business fit with the control valve family that we currently produce in our Sherman facility," said plant manager Mark Anderson. 


REXA and CCC Form Joint Initiative

REXA and Compressor Controls Corporation (CCC) have formed a joint initiative to modernize steam turbine controls for enhanced performance based upon each company’s core competency.

There are more than 10,000 turbomachinery trains worldwide powered by CCC. By upgrading mechanical and hydraulic governors to the latest technology in digital speed control, plant operators are able to achieve greater speed control and eliminate nuisance trips. 

Powell Valve Approves Flotech as Authorized Repair Facility

The Wm. Powell Company recently approved Flotech as an authorized modification and repair facility for Powell Valves.

“Flotech has been manufacturing and repairing valves for over 40 years. Adding another high quality valve manufacturer to the list of valve companies Flotech represents speaks volumes to our position as the valve experts in valve sales, automation and repair,” said John Allen Jr., vice president of operations at Flotech. 

CIRCOR Reports Fourth Quarter 2016 Financial Results

CIRCOR International, Inc. reports revenue of $158 million, GAAP EPS of ($0.12) and adjusted EPS of $0.48 in the fourth quarter of 2016. CIRCOR had an operating cash flow of $20 million and free cash flow of $17 million for the quarter. Cost control and restructuring actions continued to drive bottom-line performance. The company also announced that the integration of Critical Flow Solutions was progressing well. 

MRC Global Announces Fourth Quarter 2016 Results

MRC Global Inc. sales were $719 million for the fourth quarter of 2016, which were 26% lower than the fourth quarter of 2015 and 9% lower than the third quarter of 2016. As compared to last year, reduced customer activity across all segments and sectors drove the decline.

Net loss attributable to common stockholders for the fourth quarter of 2016 was $(24) million, or $(0.25) per diluted share, compared to $(399) million, or $(3.92) per diluted share for the same period of 2015. The fourth quarter of 2016 includes after-tax severance and restructuring charges of $7 million, ($0.07) per diluted share. The fourth quarter 2015 results include after-tax charges for the impairment of goodwill and intangible assets and other items of $411 million, ($4.04) per diluted share. 

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