Valve Market Trends
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Jordan Knauff & Company's latest Valve Stock Index was up 15.0 percent over the last 12 months, with JKC's Pump Stock Index up 33.8 percent during the same period and the Filter Stock Index up 29.6 percent. This compares with the broader S&P 500  Index, which was up 19.8 percent over the latest 12 month measurement through March 2014.

In its latest quarterly report, JKC also profiled pump maker Sulzer Ltd.'s recent agreement to sell its Metco division to OC Oerlikon AG. Metco is a global supplier of thermal spray coatings for the car, chemical and energy industries and had sales of about $770 million in 2012. The division accounted for approximately 17 percent of Sulzer’s sales and employed about 2,400 people. Sulzer expects to receive approximately $940 million in cash (after taxes) for the Metco sale and intends to use the proceeds to invest in targeted acquisitions and organic growth in its three key market segments of Oil & Gas, Power, and Water.

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The company’s newly restructured divisions include Pumps Equipment, Services, and Chemtech. A new Water business unit was also established as part of the Pumps Equipment division. The realigned Pumps Equipment division includes engineered pumps and systems for the oil and gas and power markets. The division’s products range from highly engineered products to standard products and spare parts.

According to JKC, Sulzer believes there are growth opportunities in all segments of the Oil & Gas industry. In the upstream sector, floating production, storage and offloading units (FPSOs) are in demand in key regions like Brazil, the North Sea, West Africa, and Asia Pacific. In the midstream sector, the company has a strong position in the pipeline market in the U.S. and Canada where new pipelines are needed to service new production regions. In the downstream sector, the demand for pumps used in refineries is expected to continue to grow as the U.S., China and Russia invest in modernizing their refining capabilities. The new Water business unit within the Pumps Equipment division brings together Sulzer’s current water activities, including wastewater pumps, engineered pumps for water transport and production, and process pumps for general industry. The new unit has over 100 sales, service and production locations in 30 countries and annual revenue of approximately $780 million.

JKC says Sulzer plans to launch new pump products for clean water and general industrial markets, launch new technology products for aeration markets, and develop the mechanical seal business it acquired in October. Sulzer believes the market for new centrifugal pumps for use in the water industry could be $20 billion. Sulzer’s new Services division combines the services previously provided by Sulzer Turbo Services (i.e., services for turbines, compressors, motors and generators) with pump services previously provided by Sulzer Pumps. With annual sales of about $890 million, the new Services division operates 100 locations globally.

The company’s strategy is now based on a market segment approach, serving three key markets where it currently has leading positions–Oil & Gas, Power, and Water. Sulzer believes the market for new centrifugal pumps for use in the Water industry could be $20 B.

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