Valve Manufacturing

Velan Awarded Offshore Valve Contracts in Singapore

Velan Inc.'s wholly owned subsidiary located in Lucca, Italy, has been awarded important contracts for the supply of three different types of valves to MODEC Offshore Production Systems (Singapore) Pte. Ltd. These orders represent a sales value of about $18 million and are scheduled for delivery by early 2019.

Velan ABV signed contracts with MODEC for the supply of API 6D and API 6A valves for their new floating production storage and offloading (FPSO) MV30 Carioca vessel. The FPSO will be deployed at the Sépia field operated by Petróleo Brasileiro S.A. (Petrobras), located in the giant “pre-salt” region of the Santos Basin some 250 kilometers off the coast of Rio de Janeiro, Brazil at a water depth approximately 2,200 meters.

Emerson Reports Strong Third Quarter 2018 Results

Emerson Automation Solutions net sales increased 18% in the quarter, with underlying sales up 12% excluding favorable currency of 2% and an impact from acquisitions of 4%. Growth continued to reflect strong short cycle repair and maintenance (MRO) demand and projects focused on expansion and optimization of existing facilities. Trends were positive across all key market verticals and world areas, with double digit growth in both mature and emerging markets.

Framatome Becomes Main Distributor of Chesterton

Framatome recently signed a teaming agreement with AW Chesterton to become the exclusive distributor of its valve packing and mechanical seals to the majority of North America’s nuclear energy fleet. This agreement continues Framatome and Chesterton’s long-standing relationship to support North American nuclear energy facilities. The initial term of the teaming agreement is three years.

Prior to use, all Chesterton valve packing and mechanical seals will be stored at Framatome’s Nuclear Parts Center in Lynchburg, VA.

DistributionNOW Reports Second Quarter 2018 Results

DistributionNOW announced results for the second quarter ended June 30, 2018. Revenue was $777 million for the second quarter of 2018, up 19% year over year. Net income was $14 million for the second quarter of 2018, versus a net loss of $17 million a year ago. Non-GAAP net income excluding other costs was $10 million for the second quarter of 2018 compared to a loss of $11 million a year ago.

Mueller Water Products Reports 2018 Third Quarter Results

Mueller Water Products, Inc. announced that for its fiscal 2018 third quarter ended June 30, 2018 net sales were $250.2 million and net income was $15.3 million. Increased net sales were up 7.8%, or $18.0 million, to $250.2 million as compared with $232.2 million in the prior year quarter. Generated operating income was $30.6 million and adjusted operating income was $47.3 million as compared with $43.0 million and $45.0 million, respectively, in the prior year quarter.