Last updateThu, 19 Sep 2019 4pm

Victaulic Appoints BlueScope as Distributor

Victaulic has appointed BlueScope Steel as a national distributor of the full line of its mechanical joining products for use in mining and commercial building piping systems. Victaulic products available through BlueScope Steel will include mechanical pipe joining products for a variety of applications.

BlueScope Steel is a major supplier of steel related products across a variety of industries throughout Australia and New Zealand.

Curtiss-Wright EST Group's Rep Expands Territory

The UK-based sales representative for Curtiss-Wright Industrial Division’s EST Group, Mactech Europe Ltd., will be expanding their territory coverage to include Ireland. This expansion will assist EST Group in reaching their growing customer base across Europe in the petrochemical, refining, power generation, LNG, offshore, ship building, industrial maintenance and installation market sectors.

IMI Announces the Proposed Acquisition of Specialty Valve Manufacturer PBM

IMI plc ("IMI" or the "Group") announces the proposed acquisition of PBM Inc., ("PBM") PBM will become part of IMI's Critical Engineering division. The proposed acquisition of PBM is fully aligned with IMI's strategy and represents an important opportunity to broaden IMI Critical Engineering's offering into attractive, adjacent markets. Closing is expected to take place within the next two months, subject to normal merger filings.

PBM overview
PBM is a manufacturer of high-quality industrial valves and flow control products. The company is based in Irwin, Pennsylvania, USA and end-markets include Pharmaceutical / Biotechnology, Consumer Products and Chemical. In its largest segment Pharma / Biotechnology, PBM enjoys a leading market position in the US. The company is owned by the senior management team who will remain with the business post-acquisition, apart from the retiring Chairman.

Transaction highlights

  • The acquisition extends IMI Critical Engineering's market presence into new, growing segments - including Pharmaceutical / Biotechnology - fully in-line with IMI's stated strategy.
  • PBM's reputation for responding quickly to customer needs and developing solutions to industry problems are characteristics that fit well with IMI's operating model.
  • PBM enjoys strong distributor and representative relationships - particularly within its main US markets. There are clear opportunities to broaden the market access of both PBM and IMI through their respective routes to market.
  • The sharing of best practice between the businesses will facilitate further operational improvement at PBM.
  • PBM will be both margin and earnings accretive to IMI.
  • The acquisition will deliver a financial return in excess of IMI's cost of capital by the end of year three, before revenue synergies, thereby maintaining the Group's record of strict financial discipline. 

ValvTechnologies Signs Agreement with Gestra

ValvTechnologies, Inc. has signed a representative agreement with Gestra UK Limited, a provider of flow control valves and systems for heat and process fluid control. The addition of Gestra UK significantly strengthens ValvTechnologies’ power generation business in the UK, expanding its international reach to England, Wales, Scotland, Northern Ireland, Isle of Man, Jersey and Guernsey. Gestra UK will represent several ValvTechnologies’ products and services.

Flowserve Supporting Shell’s Prelude FLNG Facility

Flowserve has entered into a five-year contract with Shell Australia to provide general maintenance services for Shell’s Prelude Floating Liquefied Natural Gas (FLNG) facility, which is producing natural gas from an offshore field in Western Australia.

The Shell-operated Prelude FLNG facility is an offshore development, producing natural gas from a remote field approximately 475 km north-northeast of the coastal town of Broome in Western Australia. The Prelude FLNG facility is scheduled to produce 3.6 million tons per annum (mtpa) of LNG, 1.3 mtpa of condensate and 0.4 mtpa of liquefied petroleum gas (LPG).

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