Last updateThu, 15 Nov 2018 4pm


Ferguson Launches CVC Fund

Ferguson Enterprises, parent company of Wolseley Industrial Group, has launched Ferguson Ventures, the company’s Corporate Venture Capital (CVC) and strategic partnering arm focused on innovation and disruption. It formalized its first strategic partnership with GTP Services, an innovative software provider in the construction industry.

Ferguson Ventures was created to help discover, invest in and partner with companies and start-ups to accelerate the use of emerging technologies to help solve these industry problems. 

Petrobras Recognizes Metso Valve Business

Brazilian oil and gas company Petrobras has recognized Metso for its valve solutions, including its valve installation and maintenance services. The company evaluated its suppliers on criteria such as quality, adherence to deadlines, management, HSE, compliance and integrity.

Petrobras is a publicly-held company operating on an integrated basis and specializing in the oil, natural gas and energy industries world-wide. They are present in the exploration and production, refining, marketing, transportation, petrochemicals, oil product distribution, natural gas, electricity, chemical-gas and biofuel segments. 

Union Tech Awarded Contract for MTO Project

Union Tech Awarded Contract for MTO ProjectUnion Tech was awarded a contract consisting of Z4 rising-stem ball valves and paired actuators installed in Nanjing Chengzhi Yongqing Energy Technology’s 600 kt/a methanol-to-olefins (MTO) project in March 2018 by Wison Energy Engineering, who was the EPC for the project. The project, which converts methanol from coal and other sources into olefins that are the essential ingredients for plastic production licenses Honeywell UOP’s MTO technology. Chengzhi Yongqing’s MTO unit—which will be the operator’s second at the site—is scheduled for startup in 2019.

The contract spanned a wide range in valve sizes, from 1.5” up to 10”. Union Tech manufactured both the valves and matching linear pneumatic actuators. Final inspections were conducted and passed in August 2018 at Union Tech’s Houston, TX facilities, and the valves were subsequently shipped to the Chengzhi Yongqing MTO plant.  

Lal Karsanbhai to Lead Emerson Automation Solutions

Lal Karsanbhai will succeed Michael Train to become executive president of Emerson Automation Solutions, effective October 1. As previously announced, Train will take over as Emerson’s president and will also serve as chairman of Automation Solutions.

Karsanbhai, who has served as group president of Emerson’s Rosemount Measurement & Analytical business since 2016, has more than 23 years of experience with Emerson in a career that spans the globe. He served as president of Emerson’s former Network Power business in Europe, Middle East and Africa from 2014 and has held leadership roles throughout Emerson, including vice president of corporate planning, president of Emerson’s Fisher regulator technologies, and vice president and general manager of its natural gas unit. 

Quality Valve Acquired by Pfingsten Partners

Pfingsten Partners, L.L.C. has invested in Quality Valve, Inc., a multi-brand distributor of OEM replacement parts for safety and relief valves, in partnership with the company’s founder, Raymond McCaffrey, III. Pfingsten acquired Quality Valve on July 27, 2018.

“We are eager to partner with Pfingsten and take Quality Valve to the next level,” said Quality Valve president, Raymond McCaffrey, III, who retained equity ownership in the company. “Pfingsten’s operational capabilities, conservative capital structure and prior experience in the valve industry will provide our Company with additional resources to scale our customer-centric value proposition.”

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