Hillenbrand to acquire Coperion

Hillenbrand, Inc. (Batesville, Ind.;www.hillenbrand.com) has agreed to acquire the Coperion Group (Stuttgart, Germany; www.coperion.com) . The transaction is anticipated to close by December 31, 2012, subject to regulatory approvals. Hillenbrand is a strategic global diversified industrial company, publicly listed on the New York Stock Exchange and will acquire Coperion from Deutsche Beteiligungs AG, a leading German private equity company.

Coperion will be part of Hillenbrand's Process Equipment Group (PEG). The PEG is a recognized leader in the design, production, marketing and servicing of equipment and systems used in processing applications for a wide range of industrial markets. Its three operating companies are K-Tron, which focuses primarily on feeding and pneumatic conveying equipment; Rotex, a manufacturer of separation equipment, including gyratory and vibratory screeners and sifters; and TerraSource Global, which makes size reduction equipment, conveying systems and screening equipment, operating under the three brands Pennsylvania Crusher, Gundlach and Jeffrey Rader.

"Coperion is an international market and technology leader with a remarkable global network – in manufacturing and engineering as well as sales and services. This acquisition will enhance Hillenbrand's growth strategy and strengthens our position in key markets such as the plastics, chemicals, food and minerals industries. Both companies share a common vision of the future for the process equipment industry," says Joe Raver, president of Hillenbrand's Process Equipment Group.

 "For Coperion this change of ownership opens up new opportunities in markets beyond the plastics industry. It will also strengthen our business in the areas where we have been engaged in strategic execution over the past years: to reduce our dependency on the polymer industry business, expand our global sales and service network and product offerings, develop turnkey process solutions with our own system and process competence, and to improve earnings resilience. We look forward to this new partnership with the Process Equipment Group and their companies, because our companies are so closely aligned from a strategic point-of-view. We believe that we have a perfect strategic match." says Guenter Bachmann, CEO of Coperion.

Is West Coast Paper Mill an attractive buy for International Paper

Speculations about US-based International Paper interested in buying West Coast Paper Mills have led to 25% gains in the stock of the Bangalore-based paper company. If the deal indeed goes through, it will mean re-rating of the stock of West Coast Paper Mills on similar lines as that of Andhra Pradesh Paper Mills.



The news of International Paper acquiring Andhra Pradesh Paper Mills led to re-rating of the stock and in the last one and half years, the stock almost doubled on the bourses.



Rs 1300 crore West Coast Paper Mills has been under strain operationally since last five quarters. Increase in raw material cost on account of higher prices of coal and wood pulp, high interest and depreciation have hit the company's bottomline. The rupee depreciation has further been an adverse factor for the company having dollar denominated debt.



The company has Rs 721.34 crore of debt on its books with its debt equity and interest coverage ratios each standing at 1.2. A stake sale by the promoters at attractive valuations in such a scenario at this juncture may not be surprising.



For International Paper, West Coast Paper Mills seems to be a good acquisition target - being larger in size than its earlier acquired company Andhra Pradesh Paper Mills and earning similar revenues like other large players JK Paper and Tamil Nadu Newsprint. Through it, International Paper can also command control on another Gujarat-based paper company Rama Newsprint since West Coast Paper Mills owns 36.3% stake in the Gujarat based firm.



In case of an acquisition deal materializing, investors should brace themselves for a re-rating of the stocks of West Coast Paper and Rama Newsprint.

Indian Specialty Chemical Industry to grow to $100 billion by Yr 2020

India's specialty chemicals industry which has been growing at a steady rate over the years, has further potential to grow from the present $22 billion to $80-100 billion by 2020 as even the Indian Government is putting into place, the plans and regulations to support this growth.



Jim Buckley, UBM Live's Informex Brand Director, who is in Mumbai for the InormexIndia, opening from Wednesday by UBM, said, "According to a recent study by global consulting firm McKinsey, India's specialty chemicals industry has the potential to grow from the present $22 billion to $80-100 billion by 2020. The Indian Government is putting in place plans and regulations to support this growth."



There is a need for a long term policy and strategy to boost the industry and which shall be the focus of discussion when the global industry players meet here this week. Mr. Buckley further said that the global industry is excited to be returning to India with a specialty focused event. "Our discussions during the conference will cover the latest developments in this fertile market while acting as an international networking platform designed to cater for those involved in sourcing, R&D and top-level management."



The three-day conference and exhibition will be held from September 12th to 14th at Nehru Centre, Mumbai.

Hindalco lines up Rs 10,000 Cr Capex

Aluminium major Hindalco has lined up a capital expenditure of Rs 10,000 crore for its green field as well as brown field projects in the current fiscal, Chairman of the company Kumar Mangalam Birla said today.



"We have a capex Rs 10,000 crore for all our projects, both green field as well as brown field, for the current financial year," Birla told shareholders at the company's 53rd annual general meeting here.



All of the company's major strategic expansions in Brazil, South Korea and the US are on track, he said, adding that it has ventured into China with a plant that will initially focus on automotive sheet finishing capabilities.



"This will further solidify our global automotive leadership position. All through the year, at Novelis, strategic investments were made in global recycling facilities in South America, Europe and Germany. These facilities will ensure metal supply and optimisation of overall cost base," he said.



Novelis' investments have been strategically geared to leverage growth opportunities in the emerging markets, to capture the increasing emphasis on light weighting in the automobile industry and recycling in all the four operating regions, he said.



He also informed the shareholders that the Mahan Aluminium Project, Aditya Aluminium Project and Utkal Alumina Refinery were all at an advanced stage of implementation.



He further said the company's balanced portfolio, value added products, operational excellence and aggressive growth strategy has helped it in its positive performance.



"Our performance has been outstanding, both at standalone and consolidated level," he said.



The aluminium business in the country recorded the highest production and the cost pressures were largely neutralised through greater efficiencies, he said.



The copper business attained the highest profitability led by improvement in recovery, better product mix and maximising value from by-products, he pointed out.



Novelis, he said, too reported strong operating results braving global economic headwinds.



The company had reported consolidated net profit of Rs 3,397 crore last fiscal compared to Rs 2,456 crore the year before, while the consolidated revenue stood at Rs 80,821 crore compared to Rs 72,202 crore in the previous year.

Sesa Goa Mining Ops Shut down

With the Goa government putting a blanket ban on mining, Vedanta group firm Sesa Goa today said it has stopped extraction of iron ore from all its mines in the state, leading to 6 per cent fall in its stock price. Following the suspension of works, all the mining operations of Sesa Goa -- the largest private sector iron ore producer of the country -- have come to a standstill. Sesa Goa's operations in Karnataka have been closed for more than a year due to a Supreme Court imposed mining ban in the southern state. In December, 2010, it had discontinued operations in Odisha. After the announcement, the company's scrip has tumbled over 6 per cent from its previous close on the BSE. At 1415 hrs, it was trading at Rs 159.95, down 5.72 per cent. "The Director of Mines, Government of Goa, on September 10, 2012, issued orders for temporary suspension of mining operations of all the mining leases in Goa, with effect from September 11, 2012, until further orders. Consequently, Sesa Goa has stopped ore extraction from all its mines in Goa," the company said in a statement. It added, "Sesa will submit all relevant documents to the government authorities for scrutiny at the earliest in order to ensure early restart of operations." The company, however, did not comment on how much impact the suspension of mining in Goa will have on the revenues as all its iron ore extraction activities have come to a close. Goa has been the mainstay of Sesa Goa since its inception and the company currently has a mining capacity of 14.5 million tonnes per annum (MTPA) in the state. It has been hoping to increase it little bit to 15 MTPA in FY13. Yesterday, the Goa government had issued a notification asking all the 90 mines to suspend operations in the state in the wake of Justice M B Shah Commission report which had pegged state's iron ore mining scam at nearly Rs 35,000 crore. The Shah Commission had also claimed that all the 90 mines operating in the state were illegal as they did not have the permission from National Board for Wildlife. The NBW permission is required as a part of Environment Clearance. However, the ban is limited to mining operations only and pending verification of documents, the state government has allowed transportation and trade of iron ore already mined and existing either in lease hold area, in transit or stored at jetties. The lease holders or traders have also been asked to report the exact location of their ore within 7 days. Goa is the second largest iron-ore producer in India with about 50 MT production last year.

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Tata Power may build more imported-coal based projects

India's largest private power producer, Tata Power may build more projects based on imported coal once the government formulates a firm policy on the sourcing of fuel from overseas mines.

The Company is pursuing an opportunity to explore additional imported-coal based projects on Eastern Coastal area, Tata Power spokesperson said.

The company, which commissioned the 4,000 MW ultra mega power project at Mundra in Gujarat in March, is looking forward to clarity from the government on issues pertaining to imported coal, she said.

The coal for the Mundra project is being sourced from Indonesia. The island-nation tweaked its fuel policy in September to bring coal prices on par with global rates.

The move has made the sourcing of fuel for imported coal- based projects in India an expensive proposition. The companies affected are demanding that they should be allowed to pass on the hike in fuel prices to consumers.

The other imported-coal based project being developed by Tata Power is the 1,600 MW Dherand project in Maharashtra.

All statutory clearances required to start the project implementation are in place for the project and land acquisition is in progress, the company said.

Tata Power has also signed an Agreement with Maharashtra government for the R&R package for farmers in the Dherand village, the company said, adding that the economic options for coal sourcing and logistics are under evaluation. PPA (power purchase agreement) is yet to be finalised.

At present, the company generates about 3,120 MW of power from all the sources of energy.

Tata Power holds 30 per cent equity stakes in major Indonesian thermal coal producers, PT Kaltim Prima Coal and PT Arutmin Indonesia, as well as related trading companies owned by PT Bumi Resources Tbk.

Tata Power is also developing domestic coal mines — Mandakini Coal Block in Orissa jointly with Jindal Photo, and Monnet Ispat and Tubed Coal Block in Jharkhand with Hindalco.

source-economic times

ANUP SHAH

Adroitt Flow Control Pvt Ltd-India

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METSO'S NELES Q2-TRIM™ ELIMINATES NOISE

Metso's new Neles Q2-Trim ™ reduces noise up to 30 decibels compared to a typical control valve helping process industry customers to improve personnel and plant safety while simultaneously increasing efficiency and reliability.

Metso's frontrunning Q2-Trim technology is combination of various techniques resulting multiple benefits for customers. By eliminating the damage that high noise can cause to process plants, employees and surroundings Q2-Trim ensures safe working environmental for personnel and stabile process control and longer uninterrupted plant runtime. 

By reducing noise and related vibration to acceptable levels Q-Trim technology also protects process equipment thus lowering the operating costs and minimizing the need for spare parts for valves and other accessories. 

Combining Q-Trim technology with quarter-turn valves results in emission levels that meet all relevant industry standards. Compact size and selection of mounting positions means less pipeline support and easier piping layout design. 

New Neles Q2-Trim is an addition to the existing Q-Trim technology and is available for pressure classes ASME 150 - 600 in sizes 2" - 16" and PN 10 - PN 100 in sizes DN 050 - DN 400 in standard ball valve offering. The standard trim material is stainless steel, Q-Trims made of special alloys and larger sizes are available on request. Q2-Trim has several key application in various fields in power, oil & gas, petrochemical, industrial gas and chemical industries.

source:valve world 

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SEVERN GLOCON ACQUIRES LEEDS VALVE

Engineering specialist Severn Glocon Group has taken over butterfly valve manufacturer Leeds Valve for an undisclosed sum. 

The acquisition complements and adds a new dimension to Severn Glocon Group's global business in valve engineering, manufacture and supply. It will act as a platform from which the Group can strategically develop its capability and extend its product portfolio. 

Leeds Valve, formerly part of Wärtsilä, is a world leader in the manufacture of large diameter, high-pressure, high-temperature butterfly valves for severe service applications. It produces control and isolation butterfly valves in exotic materials such as Hastelloy®, Titanium, Monel®, Duplex and Superduplex. 

Severn Glocon Group will acquire all Leeds Valve's Intellectual Property Rights and 18 employees – including technical experts. The business will operate as part of the Group's Severn Unival division which specialises in advanced technical advisory services, as well as control valve service, repair and manufacture. 

"This is a mutually beneficial acquisition," explains Colin Findlay, Managing Director of Severn Unival. "With our well-established routes to market we expect to significantly boost the order book of Leeds Valve in a short period of time. Bringing butterfly valve manufacture in-house enables us to ensure the valves we supply meet the exacting criteria that underpin our world-class positioning. Leeds Valve has a strong capability profile and a proven track record. Our businesses are a good fit, and we are very optimistic about the future."

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Corflex Engineering, South Africa

Kubota Corporation, Japan

Milliken Valve Company, USA

NewCon Co, USA

Volk Flow Control Inc, USA

Salina Vortex Corporation, USA

Film extruder Polyplex buys Vacumet Plastics

Flexible packaging supplier Scholle Corp. has sold its Vacumet Plastics division to Polyplex Americas Inc.

Terms have not been disclosed for the deal, which is expected to close next month. Polyplex Americas is a subsidiary of Noida, India-based Polyplex Co. Ltd.

Vacumet Plastics, based in Austell, Ga., makes metalized plastic films for use in barrier and microwave susceptor food packaging, balloons, decorative applications and building materials. The company has an annual capacity of 30 million tons.

The acquisition will "significantly expand" Polyplex's metalized product range to include all plastic substrates and broaden the range of products available to the company's North American customers, according to a June 13 news release.

Polyplex said the acquisition fits its global growth strategy. A film and resin manufacturing plant in Decatur, Ala., is slated to open next year. The company has also invested in a thick film PET plant in Thailand and a bottle-grade resin plant in Turkey.

Scholle said the sale supports its strategy of focusing on growth in its core performance packaging solutions business.

Vacumet Plastics is a division of Vacumet Corp. The metalizer, which has headquarters in Wayne, N.J., also has paper division.

Scholle, based in Irvine, Calif., is known for its bag-in-a-box packaging. The company has manufacturing plants worldwide and sales offices in more than 60 countries.

Polyplex says it is the world's fourth largest producer of thin polyester film. It has manufacturing plants in India, Thailand, Turkey and the U.S.

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Adroitt Flow Control Pvt Ltd

601, Shree Swami Krupa, Dhobi Ali,

Tembhi Naka, Thane (W), Mumbai 400601, India

~ Exclusive Representation in India ~

Corflex Engineering, South Africa

Kubota Corporation, Japan

Milliken Valve Company, USA

NewCon Co, USA

Volk Flow Control Inc, USA

Salina Vortex Corporation, USA

Schmersal India to set up Ranjangaon plant

Schmersal India is setting up a manufacturing facility at Ranjangaon, near Pune in Maharashtra with an investment of 8 million euro. It will produce safety devices, lift switchgear and electronic sensors which finds applications in machinery serving food, pharma and other FMCGs. The plant is expected to go operational in 2013. It may be noted, Schmersal India is a 100% subsidiary of German based Schmersal group.



ANUP SHAH

Adroitt Flow Control Pvt Ltd-India

Cell +91 9820501463

anup@adroitt.net



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