02262021Fri
Last updateThu, 25 Feb 2021 11pm

Emerson Considering Sale of Appleton Group for $1 Billion

Bloomberg is reporting that Emerson “is considering a sale of electrical products unit Appleton Group, according to people familiar with the matter. The St. Louis-based company has held preliminary talks with advisers about a potential $1 billion auction of the business in 2021, said the people, who asked not to be identified because they weren’t authorized to speak publicly. The unit is likely to attract interest from peers and private equity firms, although no final decision has been made and Emerson could elect to keep Appleton, the people said.” 


EnPro Realigns Businesses into Three New Segments

EnPro Industries, Inc. has realigned its reporting segments to enhance transparency and collaboration across the company as part of its ongoing portfolio reshaping strategy.

The new Sealing Technologies segment is composed of Garlock, Stemco and Technetics (excluding Semiconductor) businesses.

Beginning with the fourth quarter of 2020, EnPro Industries will report its quarterly and full year financial statements under the new segment structure with prior periods reflecting the change. 

Baker Hughes and NOVATEK Partner to Lower Carbon Hydrogen for LNG Trains

Baker Hughes and PAO NOVATEK have signed a cooperation agreement aimed at reducing carbon emissions from natural gas and liquefied natural gas (LNG) production. The two companies will cooperate on the development and implementation of innovative compression and power generation technology solutions from Baker Hughes for NOVATEK’s LNG projects, supporting NOVATEK's emissions reduction, raising efficiency and supporting long-term sustainability.

The agreement will begin with a pilot program to introduce hydrogen blends into the main process for natural gas liquefaction to reduce carbon dioxide emissions from LNG facilities, including NOVATEK’s Yamal LNG complex. Baker Hughes will provide engineering and turbomachinery equipment to convert existing natural gas liquefaction trains at Yamal LNG to run on hydrogen blends rather than solely run with methane from feed gas. 

Emerson CEO David N. Farr to Retire; Lal Karsanbhai to Replace Him

Emerson CEO David N. Farr will retire on Feb. 5. Lal Karsanbhai, who has served as executive president of the company’s Automation Solutions business since 2018, will become the new CEO of Emerson and join the board of directors. Karsanbhai has led Automation Solutions to strong performance, elevating Emerson’s software profile and digital transformation business.

Farr, who was named CEO in 2000 and chairman of Emerson’s board of directors in 2004, will remain as chairman through May 4.

Trillium Flow Technologies Launches STAR Service Center Network

Trillium Flow Technologies launched its global STAR Service Center network serving Sarasin customers with 16 locations across the United States and Mexico – with additional locations joining the network soon. Sarasin Technical Assembler and Repair (STAR) Service Centers from Trillium Flow Technologies will provide pressure relief valve (PRV) OEM aftermarket support for industrial plants. Currently, Trillium has forged partnerships with TEAM, Caliber Valve & Controls, and East Coast Valve Services in the U.S. and Vasesa in Mexico.

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