Last updateThu, 22 Mar 2018 4pm


CPV Manufacturing Awarded Three International Contracts

Admiral Valve, LLC dba CPV Manufacturing has been awarded three exclusive contracts with companies located in mainland China, Indonesia and Taiwan.

Qingdao Shengyi Crotech Co. Ltd., China has awarded CPV Manufacturing a contract to design and produce valves for Yangkuang Group, a coal chemical industry project.

Toyo Engineering, Korea, and CPV Manufacturing have signed an agreement to supply valves for PT Chandra Asri Petrochemical in Indonesia.

Also, Diekson Industrial, Taiwan has contracted CPV Manufacturing to build valves and fittings for their client Formosa Plastic Group. 

Emerson Automating North Sea FPSO Vessel

Emerson has completed its multi-year, $90 million automation project for BP’s Glen Lyon floating production, storage and offloading (FPSO) vessel west of Shetland. Emerson is now providing ongoing operational support services to help BP achieve its goal of producing 200,000 barrels a day from the North Sea by 2020.

Emerson has served as the main automation contractor for the Glen Lyon, which is expected to produce 130,000 barrels of oil a day at plateau. As part of an additional five-year contract, Emerson will provide ongoing operational support services, remote monitoring and predictive maintenance technologies for the Glen Lyon and BP’s other North Sea mega project Clair Ridge, which is due to come on stream this year. 

ITT Reports 2017 Fourth-Quarter, Full-Year Results

ITT Inc. delivered revenue of $2.6 billion in 2017, reflecting an 8% increase that included $74 million from the Axtone acquisition, and favorable foreign exchange of $30 million. On an adjusted basis, full-year organic revenue (defined as total revenue excluding foreign exchange, acquisition and divestiture impacts) increased 3% due to 7% growth in transportation markets, driven by automotive brake pads and high-speed rail, that was partially offset by lower pump project activity in oil and gas markets. GAAP segment operating income increased 17% reflecting lower restructuring expenses and strong operational results. 

MRC Global Announces Fourth Quarter 2017 Results

MRC Global’s sales were $903 million for the fourth quarter of 2017, which was 26% higher than the fourth quarter of 2016 and 6% lower than the third quarter of 2017 due to seasonality. As compared to 2016, all sectors increased driven primarily by midstream and upstream.

MRC Global's fourth quarter 2017 gross profit was $141 million, or 15.6% of sales, an increase from fourth quarter 2016 gross profit of $122 million, or 17.0% of sales. Gross profit for the fourth quarter of 2017 includes $6 million of non-cash inventory charges recorded in cost of sales. 

Curtiss-Wright Acquires Dresser-Rand Government Business

Curtiss-Wright has entered into an agreement to acquire the assets that comprise the Dresser-Rand Government Business (Dresser-Rand), a business unit of Siemens Government Technologies, for $212.5 million in cash.

Dresser-Rand designs and manufactures mission-critical, high-speed rotating equipment solutions, including reciprocating compressors, steam turbines and steam system valves, supporting Nimitz-class and Ford-class aircraft carriers, Virginia-class and Columbia-class submarines, and most major U.S. Navy shipbuilding programs. Dresser-Rand is the sole supplier of steam turbines and main engine guard valves on all aircraft carrier programs. 



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