08222017Tue
Last updateMon, 21 Aug 2017 7pm

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Weir Acquires KOP Surface Products

Weir Oil & Gas has entered into an agreement to acquire KOP Surface Products, a provider of advanced pressure control wellhead technologies, systems and services. The acquisition is for an equivalent enterprise value of $114 million and is expected to be completed in the third quarter of 2017.

KOP employs 450 people and is a provider of wellheads, surface trees, valves, actuators and aftermarket services for the oil and gas industry. The business is headquartered in Singapore and has a manufacturing facility in Batam, Indonesia, in addition to a network of sales and service offices in Malaysia, Thailand, Vietnam, Qatar, UAE, Saudi Arabia and India. KOP's current management team will continue to lead the business, reporting into Weir’s Oil & Gas division. 


MRC Global Opens California Regional Distribution Center

MRC Global (US) Inc., has opened a new Regional Distribution Center in Shafter, CA, just outside of Bakersfield. The new facility will hold approximately $15 million in inventory to support MRC Global’s operations on the West Coast and Alaska.

The facility includes approximately 80,000 square feet of warehouse space, which includes a 5,000 square foot valve and engineering center, a 15 acre pipeyard, which includes a pipe cutting facility, and a two story, 11,000 square foot office building. The location will employ approximately 36 people and support 19 MRC Global branches throughout the U.S. West Coast and Alaska. 

GE & Baker Hughes Receive Clearance, Announce Leadership Team

The European Commission has cleared the proposed transaction between Baker Hughes andGE’s oil and gas business under EU merger control rules. Baker Hughes and GE continue to work constructively with regulators and expect to close the transaction in mid-2017.

Both companies also announced the executive team that will lead Baker Hughes, a GE Company upon closing of the proposed transaction, led by Lorenzo Simonelli who will serve as president & CEO. 

Val-Matic Names Terry Massey Vice President of Sales

Terry Massey joined the Val-Matic Valve & Manufacturing Corp. team earlier this year as vice president of sales and marketing. Massey will be responsible for ValMatic’s worldwide sales and marketing activities.

Most recently, Massey served in sales management roles at Crane Co. Previously he served as sales manager – power industry at Pentair (Tyco) and sales and marketing manager – North America at Flowserve (Durco). 

Bernard Controls Supplies Honda Plant in Indiana

Bernard Controls has recently installed 25 quarter-turn electric actuators, EZ10 models with LOGIC integrated control, in Honda car manufacturing plant in Marysville, IN. After the commissioning phase, operations started up in May 2017.

In the frame of the Honda plant’s expansion, the actuators have been requested to be mounted on dampers. During the paint curing, dampers are settled to process on temperature control to provide balance between oven temperature and gas exhaust inside the car body paint. 

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