NEWS/PEOPLE & APPOINTMENTS August 2010 Pump Industry Analyst 11 Baker Hughes acquires progressing cavity pumping system supplier Tanroc Baker Hughes Inc has bought the Canadian oilfield equipment and service supplier Tanroc. Based in Lloydminster, Alberta, Canada, Tanroc mainly supplies progressing cavity pumping (PCP) systems and surface produc- tion equipment, including variable frequency drives for downhole pumping systems and wellhead drives. The Tanroc acquisition complements Baker Hughes’ LIFTEQ line of progressing cavity pumping systems, and solidifies a service and repair footprint and direct distribution channel for Baker Hughes’ progressing cavity pumping products in the Canadian market. Since 2006, Tanroc has provided service, repair and distribution for PCP systems in Canada from its primary facility in Lloydminster and smaller service centres in Bonnyville and Wabasca, Alberta. Prior to its acquisition, Tanroc served as the Canadian distributor for Baker Hughes’ LIFTEQ systems. “Tanroc’s staff brings to Baker Hughes not only extremely valuable expertise in PCP equipment, but also a proven business model,” said Mike Davis, president of Baker Hughes in Canada. “Both will be important keys to better serving our PCP customers in Canada, as well as in other markets.” For further information, visit www.bakerhughes.com Franklin Electric launches mobile training facility Franklin Electric has added a mobile training facility to its training portfolio providing hands- on customer support opportunities to the water systems industry. The new mobile training facility focuses on two major Franklin Electric product areas: drives for constant pressure applications; and sump, sewage and effluent pumps. The mobile unit can easily be converted to show- case either of these product lines, allowing Franklin to take products and training directly to the distributor, contractor or installer. The truck-trailer combination allows Franklin Electric to participate in a wide variety of events within the United States. Franklin Electric personnel present all the training and demonstrations. For further information, visit www.franklin-electric.com Chinese pump market to reach US$8.4bn by 2015 China will account for 21% of the US$40 billion world market for industrial pumps in 2015. That’s the latest pump market forecast from the McIlvaine Co’s continually updated Pumps: World Markets Report. McIlvaine estimates that the pump market in China will be worth US$8.4 billion by 2015. Wastewater will be the largest industry segment for pumps in China at US$2831 million, fol- lowed by power at US$1723 million. While there are a number of high per- forming Chinese pump companies, many of the more specialised pumps are purchased from international suppliers. For more information on Pumps: World Markets visit www.mcilvainecompany.com/brochures/water. html#N019 KSB buys into Italian drive manufacturer KSB AG has acquired a majority interest in ITACO/REEL srl, a manufacturer of customised automation and drive solutions based in Vicenza, Italy. People & Appointments UÊ �ii˜Ê œÀ˜iʈÃÊ«>˜˜ˆ˜}ÊÌœÊÀïÀiÊvÀœ“Ê Gardner Denver Inc as executive vice president, finance and chief financial officer (CFO) in order to increase her involvement in family business matters. Cornell will remain in her role until a successor has been appointed to ensure an orderly transition. Gardner Denver has already started an executive search for a replacement. www.gardnerdenver.com UÊ Sulzer CEO Ton Büchner has taken on the key responsibilities of the CFO until a successor is appointed to replace Peter Meier who has now left the company. www.sulzer.com UÊ /…iÊ ITT Corp board of directors has elected Colleen Ostrowski as vice presi- dent and treasurer of the company, reporting to Denise Ramos, ITT sen- ior vice president and CFO. In her new role, Ostrowski will have global operating responsibility for the treasury organisation, including capital markets, pension, cash management, interna- tional treasury and risk management. Ostrowski, 36, joined ITT as assistant treasurer in January 2010, and has led global cash management, cash forecast- ing and liquidity management. She has also served as a member of the compa- ny’s pension fund trust and investment committee and the benefits administra- tion committee. Prior to joining ITT, Ostrowski had a ten-year career in finance and treasury with Pfizer Inc, culminating in the role of senior direc- tor, treasury pension investments and finance. “Since joining ITT, Colleen has demonstrated strong leadership and communication skills that enhance her outstanding track record in finance,” said Ramos. Ostrowski assumes the treasurer position from Ramos, who has led the treasury function as acting treasurer since June. www.itt.com IN BRIEF/NEWS 12 KSB has been cooperating with ITACO/ REEL as its supplier of components and as a partner in the development of integrated pump drives for more than five years. With its interest in the Italian drive spe- cialist, KSB believes it has secured access to key technologies of the future. For further information, visit www.ksb.com, www.itaco.it and www.reel.it Colfax expands lubrication systems business with Baric acquisition Colfax Corp has bought Baric Group, the UK supplier of highly engineered fluid-handling systems for lubrication applications in the oil & gas, petrochemical and power gen- eration markets. Baric, which has a large installed base of systems in Europe, the Middle East and Asia, is expecting to generate sales of about £14 million in 2010. Current backlog, which has been increasing, is about £28 million. Clay Kiefaber, president and CEO of Colfax, said: “With the addition of Baric, we are able to offer customers a broader range of custom engineered lubrication systems worldwide. Expanding our global systems capability is a key part of our long-term growth strategy, and we look forward to the continued expansion of our systems business with the addition of Baric.” For further information, visit www.colfaxcorp.com and www.baricsystems.com Investment bank releases flow control industry report US investment bank Jordan, Knauff & Co has published a report on the flow control industry from a capital markets perspective. Jordan, Knauff & Co’s Flow Control Industry In-Sight™ Initiating Coverage report gives an overview of the US$146 bil- lion flow control industry - pumps, valves and filters - including relevant public compa- ny information, industry merger and acquisi- tion data and private equity investment in the sector. The investment bank believes that flow control companies can use this information to enhance their knowledge of the impact of the capital markets on their business including the flow of debt and equity into the industry. “As a middle-market mergers and acquisi- tions advisory firm with industry knowledge and relationships, we are extremely pleased to provide this research to the flow control industry. We look forward to continuing to provide meaningful content on this indus- try drawn from our experience,” said Jack Gonder, vice president of Jordan, Knauff & Co’s Flow Control Group. To view the Flow Control Industry In-Sight™ Initiating Coverage report, visit www.jordanknauff.com/flowcontrol Aqua-Chem acquires Specific Equipment Co Aqua-Chem Inc, a supplier of water purification systems to the offshore oil and gas, pharmaceu- tical, beverage and military markets, has acquired Houston-based Specific Equipment Co, a provider of fluid- handling systems, including pumps, for the petroleum industry, resort hotels and other industry segments. David Gensterblum, Aqua-Chem’s presi- dent and CEO, said, “With a proven track record in providing offshore watermaking applications, helicopter refuelling systems and potable and sanitary water pressure sets, Specific strengthens our capabilities across key customer industries. At the same time, the acquisition will extend Aqua-Chem’s reach to markets outside of the US, particu- larly South America and Mexico, where there is a great need for high-purity water.” Specific president Phil Shrader will remain with Aqua-Chem and actively manage the Specific division. “As this transaction demonstrates, Altus will continue to invest in Aqua-Chem to broaden its product offerings and systems to help achieve that goal,” said Gregory Greenberg, senior partner of Altus Capital Partners, the largest outside investor in Aqua-Chem. For further information, visit www.spec-equip.com and www.aqua-chem.com Pump Industry Analyst August 2010 In Brief UÊ Kirloskar Brothers Ltd has incorpo- rated Kirloskar Systech Ltd, a wholly owned subsidiary that will focus on system engineering, designing and sup- port services. http://web.kbl.co.in UÊ /…iÊ �ˆV…ˆ}>˜Ê Vœ˜œ“ˆVÊ �ÀœÜÌ…Ê Authority (MEGA) board has approved a state tax credit of US$1.2 million for Clyde Union Inc over five years to encourage the pump company to expand in Michigan over competing sites in Texas, Louisiana and Ontario. Clyde Union is planning to invest US$17.1 million to expand operations in Battle Creek, Michigan, adding 190 jobs. The Michigan Economic Development Corp estimates that the project has the potential to create an addition- al 230 indirect jobs. The expansion will enable Clyde Union to increase production, testing, pump systems packaging and expand pump service capabilities in Battle Creek. Union Pump has been based in Battle Creek since 1885. www.clydeunion.com UÊ �˜`ˆ>½ÃÊ Roto Pumps Ltd is planning to open a subsidiary company in Singapore. www.rotopumps.com UÊ �LœÕÌÊ näÊ «iœ«iÊ «>À̈Vˆ«>Ìi`Ê ˆ˜Ê Flowserve Corp’s first annual Desalination Technology Conference which took place recently in the Canary Islands. The event was designed for Flowserve desalination customers with presentations cov- ering Flowserve DWEER pressure exchanger solutions and LifeCycle Advantage program; recent technologi- cal breakthroughs in rotating equipment design; long-term Flowserve service and LifeCycle Advantage contracts; and Flowserve upgrade and technical assessment solutions for desalination plants. The conference also featured a site tour of a local desalination plant on the island of Gran Canaria. The tour participants had the opportu- nity to view the plant’s equipment, systems and processes in operation. Flowserve donated all registration fees for the conference to UNICEF, the United Nations Children’s Fund. www.flowserve.com