Gas and liquid flow control valve manufacturer Rotork recently stated it was seeing signs of improvement in oil and gas markets. Rotork highlighted signs of increased activity levels during the third quarter of 2016, notably in North America, the Middle East and Asia.
The company said order intake for the period was up 22.2 percent on a year ago and revenue was 28.9 percent higher. On October 30, 2016 the order book was worth GBP £214million – more than 15 percent ahead of the same point last year. Third quarter orders in the firm’s controls division were up by 19.7 percent year-on-year, helped by the pick-up in energy.
The group’s fluid systems division had an increase in orders due to project activity showing signs of improvement in midstream and downstream sectors.