05242017Wed
Last updateWed, 24 May 2017 2pm

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A.W. Chesterton Appoints Uday Karmarkar Vice President of Engineering

Uday KarmarkarA.W. Chesterton Company has hired Uday Karmarkar as vice president of engineering. Karmarkar will be managing engineering, research and development activities for all of Chesterton’s product lines.

Karmarkar holds a bachelor’s degree in Chemical Engineering and a master’s degree from the College of Polymer Science and Polymer Engineering - University of Akron. He has over 18 years of industrial experience and holds several U.S. Patents.

Karmarkar’s resume includes engineering positions at GE in the Digital Industrial Transportation business and at Akron Rubber Development Laboratory, Inc. Prior to joining Chesterton, Karmarkar was principal engineer-chief engineering for GE in Erie, PA. 


Crane Co. Acquires Westlock Controls from Emerson

Crane Co. has acquired Westlock Controls from Emerson for cash consideration of $40 million.

Westlock manufactures and sells switchboxes, position transmitters and other solutions for networking, monitoring and controlling process valves. With primary operations located in Saddle Brook, NJ, Westlock had 2016 sales of approximately $32 million. 

Victaulic Among Best Places to Work for Fourth Consecutive Year

For the fourth consecutive year, Victaulic is one of the best places to work in the Lehigh Valley (PA). During an award ceremony held March 9, 2017, Victaulic was once again named to the list of Top Workplaces in the Lehigh Valley by The Morning Call newspaper.

Over 70 companies participated, representing 18,888 people in the Lehigh Valley. The employee survey seeks responses from 24 statements covering seven areas such as alignment, effectiveness, connection, management, employee engagement, leadership and pay/benefits/flexibility. 

MRC Global Announces First Quarter 2017 Results

MRC Global Inc. sales were $862 million for the first quarter of 2017, which were 10% higher than the first quarter of 2016 and 20% higher than the fourth quarter of 2016. As compared to last year, increased customer activity primarily in the midstream sector drove the improvement.

MRC Global's first quarter 2017 gross profit was $140 million, or 16.2% of sales, an increase from first quarter 2016 gross profit of $133 million, or 17.0% of sales. Gross profit for the first quarter of 2017 and 2016 reflects an expense of $1 million and a benefit of $3 million, respectively, in cost of sales relating to the use of the last-in, first out (LIFO) method of inventory cost accounting. 

DistributionNOW Reports First Quarter 2017 Results

NOW Inc. revenues for the first quarter ended March 31, 2017 were $631 million, up 17% sequentially and 15% year over year.

Net loss was $23 million for the first quarter of 2017, versus losses of $71 million in the fourth quarter of 2016 and $63 million a year ago. Non-GAAP net loss excluding other costs was $16 million compared to $31 million in the fourth quarter of 2016 and $38 million a year ago. 

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