Acquisitions, expansions and partnerships
Element Materials Technology and Exova Group Ltd become one
Element Materials Technology and Exova Group Limited have joined forces. The expanded Element Group will operate under the leadership of president and CEO, Charles Noall, alongside a newly formed executive team which blends testing expertise and experience from both Element and Exova. The existing Element board will continue to review the overall performance of the business and determine group-wide strategies and priorities. This experienced leadership group will lead Element’s global community in the delivery of the company’s growth objectives. This latest acquisition by Element follows a period of significant growth for the business, helping it to become the fastest growing independent materials testing and product qualification company in the world.
CMA approves Wood Group and Amec merger plans
After mulling over Amec Foster Wheeler’s offer to sell its assets for the merger with Wood Group, the Competition and Markets Authority (CMA) approved proposals by both companies. The planned £2.2 billion merger could curb competition in the supply of services to the U.K. oil industry. As Wood Group moves forward to take over, Amec Foster Wheeler will sell off “almost all” assets that contribute to engineering, construction and maintenance services in its upstream offshore oil and gas business in the U.K. The companies were told they could face an in-depth investigation. Following public consultation, the CMA said the plan addressed its concerns. The deal will create a company with a combined value of about £5bn.
Hyundai Ideal Electric Company acquired by affiliate of Gulf Electroquip Ltd.
Ideal Electric Company, formerly owned by Hyundai Heavy Industries Co. Ltd. of South Korea, has been wholly acquired by a privately held affiliate of Gulf Electroquip Ltd. of Houston, Texas. Ideal Electric is a globally established American manufacturer of electric motors and generators, switchgear and control systems for all applications including industrial, oil, gas and petrochemical, water and infrastructure, pulp and paper, air handling, marine, mining, power generation and renewable energy. Customers of the former Hyundai Ideal Electric Co. will be fully serviced and all warranties will be honored, while orders for parts, service and new and replacement machines will be accepted and fulfilled immediately. The purchase of Ideal Electric returns the 114-year-old business to private hands and allows for all options to be on the table in Richland County as the Company is re-imaged in the globally competitive marketplace.
Rockwell Automation appoints CEO to become chairman
Rockwell Automation’s board of directors has elected president and chief executive officer Blake D. Moret as chairman of the board effective Jan. 1, 2018. The company will continue to have an independent lead director. Moret served in senior positions across the organization, including international assignments in Europe and Canada. Moret earned a bachelor’s degree in mechanical engineering from Georgia Institute of Technology.
BCCK appoints VP of corporate development
BCCK Holding Company appointed Kevin J. Blount as vice president of corporate development. Blount, based in Houston, will support the company growth in the global gas processing, liquefied natural gas and petrochemical markets in his new role. Blount has more than 30 years of serving in a variety of senior management roles across a wide spectrum of business, including operations, development, engineering and marketing. Blount holds a master’s degree in business administration from Wolverhampton University in the U.K.
Orbital Gas Systems appoints trace measurement specialist
Orbital Gas Systems appointed Jacob Tivey as its trace measurement specialist. Tivey is based in the company’s Houston office and will serve as an integral member of Orbital’s research and development team. He will be involved in the company’s research into adsorption phenomena. Tivey is a member of the Institute of Chemical Engineers (IChemE), the global professional membership organization for chemical, biochemical and process engineers. Having recently graduated from the University of Birmingham, U.K., with a foundation degree in engineering fundamentals, as well as a bachelors and masters degree in chemical engineering, Tivey will leverage his research to develop new technology with Orbital.
Awards, milestones and achievements
NEL begins construction of subsea development center
NEL has commenced the build of their £16 million Centre of Excellence (CoE) for subsea development. NEL’s multiphase flow test facility will have a large test range, regarding multiphase flow measurement. The CoE will provide a better understanding of measurement equipment in extreme subsea environments. The testing range of the facility includes single-phase, multiphase and dry gas, at operating pressures up to 150 Bar, doubling current existing capabilities to replicate subsea production conditions.
Endress+Hauser receives gold recognition from EcoVadis
Endress+Hauser received a Gold Recognition Level certificate in the EcoVadis audit, improving on the previous year’s result with 66 points. The result illustrates the high importance Endress+Hauser places on its corporate social responsibility and the structured, foresighted approach the company takes. Twenty-one criteria were assessed in the audit, including environment, labor practices, fair business practices and sustainable procurement. The company achieved an above average rating for all categories, receiving the gold certificate. Since 2015 the Endress+Hauser Group has published a sustainability report that examines social, environmental and economic aspects of company management, giving a holistic view of the group’s development. EcoVadis runs a platform that allows companies to assess the environmental and social aspects of suppliers.
AkzoNobel reclaims top ranking on Dow Jones Sustainability Index
AkzoNobel returned to the top of the influential Dow Jones Sustainability Index (DJSI) to lead the rankings again for the fifth time in six years. The company placed first in the chemicals industry group and has now been featured in the top ten for 12 consecutive years, underlining AkzoNobel’s commitment to working with customers to develop sustainable solutions that make a positive impact on the whole value chain. AkzoNobel is also aims to become carbon natural by 2050. Regarded as a respected independent sustainability ranking system, the DJSI World Index benchmarks the sustainability performance of leading companies based on environmental, social and economic performance, including forward-looking indicators.
Ingersoll Rand selected for the 2017 Dow Jones Sustainability World and North America Indices
Ingersoll Rand was named to the Dow Jones Sustainability World and North America Indices for seven consecutive years. Continued placement on this index series showcases the company’s position as an economic, environmental and social leader among peer companies. Having been presented with this honor falls in line with Ingersoll Rand’s commitment to significantly reduce greenhouse gas emissions from its products and operations by 2030. The company maintains business operations that continue to reflect a longstanding commitment to innovation, sustainability and corporate citizenship aimed at leading the way to a better world. The Dow Jones Sustainability Indices launched in 1999 as the first global sustainability benchmarks for investors who integrate sustainability considerations into their portfolios, and provide an effective engagement platform for companies who want to adopt sustainable best practices.