IN FOCUS

Nicolaus Krämer is the new Chairman of the VDMA Pumps + Systems Association. The members elected the Chief Executive and Chief Operating Officer of HERMETIC-Pumpen GmbH to his post at the general meeting at the end of April.

GEA has raised its outlook for fiscal year 2023 following a strong first quarter. Revenue is now forecast to grow on an organic basis by more than 8.0 percent (previously: more than 5.0 percent). EBITDA before restructuring expenses at constant exchange rates is expected to be at the upper part of the range between EUR 730 million and 790 million (previously: range between EUR 730 million and 790 million).

Xylem Inc. reported first-quarter revenue of $1.4 billion, surpassing prior guidance, with strong commercial and operational execution.

ABB announced it has completed its acquisition of the Siemens low voltage NEMA motor business. The transaction was originally announced August 11, 2022, and financial terms of the transaction were not disclosed. The business employs around 600 people and generated revenues of approximately $63 million in 2021.

Watts Water Technologies, Inc., announced results for the first quarter of 2023.

Franklin Electric Co. Inc. announced first quarter financial results for fiscal year 2023. First quarter 2023 sales were $484.6 million, compared to first quarter 2022 sales of $451.5 million.

International technology group ANDRITZ has started the 2023 business year with unchanged high growth dynamics despite a slowing global economy. Revenue and operating result both increased significantly by well over 20 percent in the first quarter of 2023 compared with the same period of the previous year.

Mr. Tero Kokko, Ph.D., M.Sc., has been appointed President, EMEA at Valmet as of June 1, 2023. In his new position, Tero Kokko is a member of Valmet’s Executive Team and reports to President and CEO Pasi Laine. Tero Kokko currently works in Valmet’s Services business line as Vice President, Fabrics business unit, where he started in 2020.

Professor Dieter Kempf was confirmed by a large majority at Annual General Meeting of GEA Group Aktiengesellschaft – the first to be held virtually after the lifting of COVID restrictions, while still ensuring all shareholder rights.

Pentair plc announced first quarter 2023 sales of $1.0 billion. Sales were up 3 percent compared to sales for the same period last year. Excluding currency translation, acquisitions and divestitures, core sales declined 3 percent in the first quarter.