BSWB
14 years ago
EnPro Industries Announces Completion of Mid Western Companies Acquisition
Date : 02/22/2011 @ 5:12PM
Source : PR Newswire
Stock : Enpro (NPO)
Quote : 40.1 0.0 (0.00%) @ 8:26AM
EnPro Industries Announces Completion of Mid Western Companies Acquisition
Enpro (NYSE:NPO)
Intraday Stock Chart
Today : Wednesday 23 February 2011
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EnPro Industries, Inc. (NYSE: NPO), a leading manufacturer of engineered industrial products, announced today that it has closed the acquisition of the Mid Western companies, privately held businesses primarily serving the oil and gas drilling, production and processing industries in Western Canada.
(Logo: http://photos.prnewswire.com/prnh/20050825/CLTH030LOGO )
EnPro announced an agreement to acquire the Mid Western companies on February 15, 2011. The companies, which are composed of Mid Western Compressor Supplies, Inc. and Mid Western Machine Works Inc., service and rebuild reciprocating compressors, design and install lubrication systems and service and repair a variety of other equipment used in the oil and gas industry. They will be managed as part of EnPro's Compressor Products International (CPI) operations.
About EnPro Industries
EnPro Industries, Inc. is a leader in sealing products, metal polymer and filament wound bearings, components and service for reciprocating compressors, diesel and dual-fuel engines and other engineered products for use in critical applications by industries worldwide. For more information about EnPro, visit the company's website at http://www.enproindustries.com.
SOURCE EnPro Industries, Inc.
BSWB
14 years ago
EnPro Industries Reaches Agreement to Acquire Sealing Products Manufacturer
Date : 01/31/2011 @ 7:30AM
Source : PR Newswire
Stock : Enpro (NPO)
Quote : 41.83 0.0 (0.00%) @ 8:17AM
EnPro Industries Reaches Agreement to Acquire Sealing Products Manufacturer
Enpro (NYSE:NPO)
Intraday Stock Chart
Today : Monday 31 January 2011
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EnPro Industries, Inc. (NYSE: NPO) announced today that it has signed an agreement to acquire the business of Pipeline Seal and Insulator, Inc. and its affiliates (PSI), a privately-owned group of companies that manufacture products which ensure the safe flow of fluids through pipeline transmission and distribution systems, worldwide. The transaction, which is expected to close in the first quarter of 2011 and will be completed for cash, is subject to customary closing conditions. The parties have received anti-trust clearances required for closing.
(Logo: http://photos.prnewswire.com/prnh/20050825/CLTH030LOGO )
PSI primarily serves the global oil and gas industry and water and wastewater infrastructure markets. The business manufactures flange sealing and flange isolation products; pipeline casing spacers/isolators; casing end seals; the original Link-Seal® modular sealing system for sealing pipeline penetrations into walls, floors, ceilings and bulkheads; hole forming products; manhole infiltration sealing systems; and safety-related signage for pipelines. It operates facilities in the United States, Germany and the United Kingdom, and will be included in EnPro's Garlock family of companies. The transaction is being consummated by a number of domestic and international EnPro subsidiaries not involved in Garlock Sealing Technologies, LLC's asbestos claims resolution process.
"PSI will be a significant addition to the Garlock family of companies and to their expertise in industrial sealing," said Steve Macadam, president and chief executive officer of EnPro. "The acquisition will expand these companies' manufacturing capability, increase their participation in global oil and gas markets and provide them with a larger and well-established presence in water and wastewater markets, where substantial demand is likely to be created by infrastructure improvements in coming years. At the same time, the acquisition will provide PSI with access to many new markets and improved opportunities for growth.
"PSI comes to us with a record of consistent organic growth and an established aftermarket presence," Macadam continued. "We look forward to the benefits the acquisition will bring to our customers and shareholders."
"Joining the EnPro family is a win for PSI," said David Nordeen, president of PSI. "Access to the engineering, product development and experience in industrial sealing markets available through EnPro will significantly enhance PSI's global capabilities."
PSI employs about 200 people with primary manufacturing locations in Houston, Texas; St. Neots, United Kingdom; and Nehren and Furth, Germany. The company has additional locations in Dubai, and Kuala Lumpur, Malaysia.
Forward-Looking Statements
Statements in this press release that express a belief, expectation or intention, as well as those that are not historical fact, are forward-looking statements under the Private Securities Litigation Reform Act of 1995. They involve a number of risks and uncertainties that may cause actual events and results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to: the timely completion of the acquisition of PSI on the terms set forth in the acquisition agreement, the extent to which we are successful in integrating PSI's businesses and realizing opportunities for growth and general economic conditions in the markets served by our businesses and PSI, some of which are cyclical and experience periodic downturns. Our filings with the Securities and Exchange Commission, including the Form 10-K for the year ended December 31, 2009 and Form 10-Q for the quarter ended September 30, 2010, describe these and other risks and uncertainties in more detail. We do not undertake to update any forward-looking statement made in this press release to reflect any change in management's expectations or any change in the assumptions or circumstances on which such statements are based.
About EnPro Industries
EnPro Industries, Inc. is a leader in sealing products, metal polymer and filament wound bearings, components and service for reciprocating compressors, diesel and dual-fuel engines and other engineered products for use in critical applications by industries worldwide. For more information about EnPro, visit the company's website at http://www.enproindustries.com.
SOURCE EnPro Industries, Inc.
BSWB
14 years ago
EnPro Industries Acquires Manufacturer of Braking Products for Heavy-Duty Vehicles
Date : 01/13/2011 @ 4:10PM
Source : PR Newswire
Stock : Enpro (NPO)
Quote : 42.09 -0.13 (-0.31%) @ 8:00PM
EnPro Industries Acquires Manufacturer of Braking Products for Heavy-Duty Vehicles
Enpro (NYSE:NPO)
Intraday Stock Chart
Today : Friday 14 January 2011
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EnPro Industries (NYSE: NPO) has acquired the assets of Rome Tool and Die, Inc., a leading supplier of steel brake shoes to the North American heavy-duty truck market. The business will become part of the brake products group of Stemco, an EnPro Industries company. The acquisition was completed for cash; terms were not disclosed.
(Logo: http://photos.prnewswire.com/prnh/20050825/CLTH030LOGO )
"Rome Tool and Die is an important and attractive addition to Stemco," said Steve Macadam, president and chief executive officer of EnPro. "The business is the leading supplier of new brake shoes to the aftermarket in the United States. Stemco, which has the best sales and product training model in the industry, will now be able to combine brake shoes with Stemco Duroline brake pads to offer a completely lined brake shoe kit that will provide important performance and safety benefits to fleet operators."
Brake shoes are the third product line added by Stemco to its brake products group since the third quarter of 2009. Friction products were added through a North American distribution agreement with Duroline, a Brazilian brake linings manufacturer, and automatic brake adjusters were added through the Stemco Crewson joint venture. With the addition of brake products and suspension system components, which were added through the acquisition of Kaiser Engineering in 2008, Stemco expects more than 35% of its 2011 sales to come from products not offered at the end of 2007.
Rome Tool and Die's headquarters and manufacturing facility are located in Rome, Georgia, where the business employs approximately 110 people.
About EnPro Industries
EnPro Industries, Inc. is a leader in sealing products, metal polymer and filament wound bearings, components and service for reciprocating compressors, diesel and dual-fuel engines and other engineered products for use in critical applications by industries worldwide. For more information about EnPro, visit the company's website at http://www.enproindustries.com.
SOURCE EnPro Industries, Inc.
BSWB
17 years ago
EnPro Industries Acquires Chinese Sealing Products Distributor and Manufacturer
CHARLOTTE, N.C. Jan. 24 /PRNewswire-FirstCall/ -- EnPro Industries (NYSE: NPO) has acquired the assets of Sinflex Sealing Technologies, a distributor and manufacturer of industrial sealing products, located in Shanghai, China. The operations will do business as Garlock Sealing Technologies (Shanghai) Co Ltd. and will be operated by Garlock Sealing Technologies, an EnPro Industries company. Sinflex has been Garlock's principal distributor in China for over 10 years and in recent years has expanded its manufacturing operations.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050825/CLTH030LOGO )
"Establishing an operational presence is key to our ability to address China's fast growing sealing products market," said Ernie Schaub, EnPro's president and chief executive officer. "Sinflex is one more small but important step in this direction. We will continue on this path later this quarter, when Stemco begins manufacturing operations at Shuzhou, also in the Shanghai area, further expanding the sealing products we manufacture and sell in China."
The transaction was completed for cash; terms were not disclosed.
EnPro Industries, Inc. is a leader in sealing products, metal polymer and filament wound bearings, compressor systems and components, diesel and dual- fuel engines and other engineered products for use in critical applications by industries worldwide. For more information about EnPro, visit the company's website at: http://www.enproindustries.com.
SOURCE EnPro Industries
01/24/2008
CONTACT: Media, Tammie McGee, Manager, Corporate Communications, +1-704-731-1548, tammie.mcgee@enproindustries.com; Investors, Don Washington, Director, Investor Relations and Corporate Communications, +1-704-731-1527, don.washington@enproindustries.com, both of EnPro Industries
Web site: http://www.enproindustries.com
(NPO)
BSWB
17 years ago
EnPro Industries Comments on Steel Partners' Letter
CHARLOTTE, N.C., Feb. 6 /PRNewswire-FirstCall/ -- On January 30, 2008, the board of directors of EnPro Industries (NYSE: NPO) received a letter from Steel Partners outlining several alternatives which Steel believed would improve the value of EnPro's shares. The letter also referenced a verbal inquiry made by Steel in June 2007 about a possible sale of the company to Steel.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050825/CLTH030LOGO )
When the board met on July 17, 2007, to discuss the inquiry, the price of the shares was trading in a range between $44 and $46 a share. At the meeting, the board unanimously determined that the time was not right for the sale of the company. The determination was made based on the board's opinion that the company could obtain greater long-term value by continuing to execute its strategic plan for growth through selected acquisitions and investment in the company's operations.
The board and its financial advisors will fully evaluate the alternatives outlined by Steel Partners in its January letter, and the company will provide an update to the market at the appropriate time.
EnPro Industries, Inc. is a leader in sealing products, metal polymer and filament wound bearings, compressor systems, diesel and dual-fuel engines and other engineered products for use in critical applications by industries worldwide. For more information about EnPro, visit the company's website at www.enproindustries.com.
Certain Information Concerning Participants
EnPro will file a proxy statement in connection with its 2008 annual meeting of shareholders. EnPro shareholders are strongly advised to read the proxy statement and the accompanying proxy card when they become available, as they will contain important information. Shareholders will be able to obtain this proxy statement, any amendments or supplements to the proxy statement and other documents filed by EnPro with the Securities and Exchange Commission for free at the Internet website maintained by the Securities and Exchange Commission at www.sec.gov. Copies of the proxy statement and any amendments and supplements to the proxy statement will also be available for free at EnPro's website, www.enproindustries.com, or by writing to EnPro Industries, Inc., 5605 Carnegie Boulevard, Suite 500, Charlotte, North Carolina 28209, Attention: Corporate Secretary. EnPro and its directors and executive officers may be deemed to be participants in the solicitation of proxies for EnPro's 2008 annual meeting, and detailed information regarding the names and affiliations of EnPro's directors is available in the proxy statement for EnPro's 2007 annual meeting of shareholders filed with the Securities and Exchange Commission on March 22, 2007. Information regarding the interests of EnPro's directors and executive officers and the names and affiliations of EnPro's executive officers is available in a Schedule 14A filed by EnPro with the Securities and Exchange Commission earlier today.
SOURCE EnPro Industries, Inc.
Source: PR Newswire (February 6, 2008 - 7:30 AM EST)
BSWB
17 years ago
CPI JOINS EnPro
CPI is pleased to announce that EnPro Industries Inc., a leading
manufacturer of engineered industrial products, has acquired
Compressor Products International Ltd (CPI). EnPro will combine
CPI with its France Compressor Products (FCP) unit, based in
Stafford, Texas, to create the world’s leading manufacturer of
reciprocating compressor sealing components and one of the world’s three largest producers of reciprocating compressor valves.
We are proud to join a company with EnPro’s record of industrial
success and obvious growth potential. Its compressor products
business has grown over the past year and a half from a relatively small part of EnPro to join the ranks of its core operations. We are equally excited by the breadth of high quality products and services we will be able to provide to our customers worldwide by combining market coverage, experience, expertise and product development capabilities of both FCP and CPI.
The combined operations will conduct the business under the
CPI name. We believe the name accurately reflects both our
products and our objective to expand the global footprint of our
business. The CPI operations in Hungerford and Braunton will remain in place while the headquarters of the new company will be at the current FCP offices at Stafford, near Houston.
It is planned that all CPI and FCP global operations of both companies will be continued, and where applicable integrated and developed to provide the optimum arrangement to serve each market region.
CPI’s focus remains on providing the high level of service and support that our customers have come to depend on, during and after the transition. We intend to continue to fully serve the needs of our customers in every aspect of innovation, service, quality and delivery.
We thank you for your business and your support. We are confident that by joining forces, CPI and FCP will bring added value and greater opportunity to our customers as well as to our staff.
For further information, please contact CPI through your usual
contact, through any of the CPI group locations, or direct to our
Hungerford Head Office.
For more information about EnPro Industries Inc, please visit the
company's website www.enproindustries.com
http://www.compressor-products.com/news(2).html
BSWB
17 years ago
EnPro Industries Inc. Acquires Compressor Products International
Tuesday July 31, 9:27 am ET
CHARLOTTE, N.C., July 31 /PRNewswire-FirstCall/ -- EnPro Industries Inc. (NYSE: NPO - News), a leading manufacturer of engineered industrial products, today announced it has acquired Compressor Products International (CPI), a privately-held company that designs, manufactures and services sealing components for reciprocating compressors. The transaction was completed for cash; terms were not disclosed.
CPI, which is headquartered in Hungerford, Berkshire, England, designs and manufactures critical sealing components for reciprocating compressors and related equipment for both compressor manufacturers and for the oil, gas and petrochemical industries. It will be combined with EnPro's France Compressor Products (FCP) business to create the world's largest manufacturer of reciprocating compressor sealing components.
"This acquisition is a very positive step for FCP and CPI, as well as for EnPro," said Ernie Schaub, EnPro president and chief executive officer. "It combines two excellent businesses to create a global market leader with expanded product offerings, increased technical capabilities and the capacity to provide improved service to its customers. The addition of CPI also transforms our compressor products business into a significant part of EnPro's core as we continue to achieve our strategic initiatives and build long-term value for our shareholders."
In a joint statement, Philip Hunt and Robin Wilson, founding owners of CPI said: "We are excited to be associated with France Compressor Products. The combined knowledge, expertise and experience of FCP and CPI will result in superior products and outstanding service for both existing and new customers worldwide."
In addition to its Hungerford location, CPI has manufacturing facilities and sales offices in England, France, Australia, Brazil and the United States. CPI, incorporated in 1984, employs 175 people worldwide and has a global network of distributors and agents. Hunt and Wilson will remain with CPI and continue to work from the Hungerford office.
France Compressor Products, headquartered in Stafford, Texas, designs, manufactures and refurbishes reciprocating compressor sealing components. Additional France Compressor manufacturing or service and stocking facilities are located in Canada, France, Germany, Holland, China, Australia and the United States.
EnPro Industries, Inc. is a leader in sealing products, metal polymer and filament wound bearings, compressor systems, diesel and dual-fuel engines and other engineered products for use in critical applications by industries worldwide. For more information about EnPro, visit the company's website at http://www.enproindustries.com.
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