12152018Sat
Last updateThu, 13 Dec 2018 5pm

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Crane Co. Reports Third Quarter Earnings

Crane’s Fluid Handling segment backlog was $286 million at September 30, 2008, a decrease of 4% from $298 million at June 30, 2008, and an increase of 18% over $243 million at December 31, 2007. The third quarter 2008 sales increase of $2.5 million reflects $2.1 million of incremental sales related to the August 2007 acquisition of the Mobile Rugged Business division of Kontron America.

Source: Crane Co.

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Cameron Third Quarter Earnings Per Share $0.73

Cameron reported net income of $166.3 million, or $0.73 per diluted share, for the quarter ended September 30, 2008, compared with net income of $150.7 million, or $0.65 per diluted share, for the third quarter of 2007. The third quarter 2007 results included a gain of $19.8 million, or $0.09 per share, related to the favorable resolution of certain tax matters. Orders for subsea, drilling, and valves businesses reached record levels.

Source: Cameron

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Flowserve Reports Record Third Quarter EPS of $2.04, Up 86%

Flowserve Corp. announced record third quarter performance including earnings per share, sales and bookings. The company announced third quarter fully diluted EPS of $2.04, up 86% (including items of $0.10, net), and operating income of $163.6 million, up 51%, both over the third quarter of 2007.

Source: Flowserve

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Tyco Valve Company Considers Building New $20 Million Facility in Mansfield, MA

Crosby Valves and Controls, a World War II era company based in Wrentham, MA, is intending to expand its pressure valve production and testing facility, and is looking seriously at the now vacant Robert Allen Fabrics building near the Holiday Inn on Cabot Boulevard in the Cabot industrial park.

Crosby, owned by Tyco, creates and tests pressure relief valves that are used in nuclear power production, a growing industry due to the “green” movement.

Source: Mansfield News & Enterprise

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Powercomm Withdraws Takeover Offer for Unified Valve After Due Diligence

PowerComm Inc. said Friday it was cancelling its planned takeover of Unified Valve Ltd. after completing its due diligence.

"Although our strategic plan is for continued growth we must be cognizant of delivering accretive solutions to our shareholders and in the case of Unified Valve Ltd., our companies were unable to agree on revised terms based on the recent economic situation," said Wayne Rutherford, PowerComm's President and CEO.

Source: Canadian Press

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