IN FOCUS

The pump Group doubles the profitability and has achieved sales growth during the first half of 2015. The results are in line with the ambitions.

The market for industrial valves will grow by 16 percent from 2015 to 2019 at oil prices of $80/barrel during the period. At $40/barrel, the growth will only be 9 percent. These are the latest forecasts in N028 Industrial Valves: World Market published by the McIlvaine Company.

National Oilwell Varco announced that Jose A. Bayardo has been named Senior Vice President and Chief Financial Officer of National Oilwell Varco, effective August 28, 2015. Mr. Bayardo succeeds Scott K. Duff, Interim Chief Financial Officer.

The world market for ultrapure water (UPW) systems and components will exceed $4.3 billion next year according to the latest McIlvaine forecasts in N029 Ultrapure Water: World Market.

The brand new Pump Summit Americas event has released the names of its Chairman and Steering Committee members. Jean-Marc Fosseux, the Senior Rotating Equipment Consultant of Mechanical Engineering at Technip USA will take the lead as the Chairman for the 2016 Conference.

Parker Hannifin Corporation announced that Jeff Cullman, Vice President and President – Hydraulics Group, will retire effective October 1, 2015 after 36 years of dedicated service to the company.

Pentair plc announced that it has entered into an agreement with Erico Global Company whereby Pentair will acquire Erico for $1.8 billion in cash, including the repayment of Erico debt. The transaction values Erico at approximately twelve times 2015 forecasted EBITDA.

Parker Hannifin Corporation announced that its Board of Directors has elected Bob Bond, Vice President and President – Fluid Connectors Group, to a newly created position of Vice President – eBusiness, IoT and Services, effective September 1, 2015. In this new role, Mr. Bond will have responsibility for the company s e-business, Internet of Things (IoT) and service strategies.

The Board of Directors of Sulzer was surprised to hear of Klaus Stahlmann’s personal decision to step down as CEO of Sulzer AG. The Board of Directors acknowledges Mr. Stahlmann’s contribution to Sulzer’s realignment, but in the interests of maintaining clarity and focus on the management of the company it has released Mr. Stahlmann with immediate effect.

The Verder Group acquired in its entirety the 230 year old UK based Fullwood Packo Group, experts in milking machines, milk cooling and specialist products for the food and pharmaceutical industries.