News

Spurred on by the growth in sales of its diversified line of control valves, regulators and tank equipment in Brazil, Cashco, Inc.

Lockout Tagout, Valve Interlock and Valve Actuation experts Total Lockout (Safety) Ltd have launched an innovative valve lever, torque multiplier device specifically for turning lever operated valves which have become stiff to operate due to arduous service or infrequent operation.

ArcelorMittal announces the completion of the first installment of the previously announced investment by a consortium led by POSCO and China Steel Corporation (CSC) to acquire a joint venture interest in ArcelorMittal’s Labrador Trough iron ore mining and infrastructure assets in Quebec, Canada.The consortium acquired an 11.05% interest in the joint venture for total consideration of USD 810M in cash, with ArcelorMittal’s wholly owned subsidiary ArcelorMittal Mines Canada retaining an 88.95% interest in the joint venture. As part of its strategy to build strategic relationships with key customers, the joint venture has also entered into long-term iron ore off-take agreements with POSCO and CSC proportionate to the consortium’s joint venture interests.The second instalment of the investment by the consortium, which will increase the consortium’s interest in the joint venture to 15%, remains subject to various conditions and is expected to close in the second quarter of 2013.

  Actuator manufacturer and flow control company, Rotork p.l.c, has announced the acquisition of the entire share capital of the operating companies of the Schischek group.

The P24 model titanium pressure reducing valve available from Red Dragon Valves in the UK was originally produced to meet the rigorous demands of Statoil’s Gjoa offshore production platform.

Fluor Corporation announced that it was named as one of the Ethisphere Institute’s World’s Most Ethical (WME) Companies for 2013.

  Mexico is due to import a total 100Mf3/d (2.83Mm3/d) LNG via the Manzanillo and Altamira terminals for approximately one year to guarantee natural gas supply to the country, Alejandro Martínez Sibaja, director of state oil company Pemex's gas subsidiary PGPB said at the BNamericas Mexico Energy Summit in Mexico City.

Petrofac’s Engineering & Consulting Services business (ECS), in partnership with Doris Engineering of Houston (Doris), has been awarded a project management contract by Petróleos Mexicanos (PEMEX) for specialised technical assistance and supervision for the construction, installation, commissioning, testing and start-up of deep-water subsea wells and infrastructure for the Lakach project.

Oregon State University has started construction on a USD 4.8 million facility to test a new nuclear energy technology that could be safer, more efficient and produce less waste than existing approaches.

Westlake Chemical Corporation has entered into a definitive agreement with CertainTeed Corporation, a subsidiary of the French public company, Compagnie de Saint-Gobain, to purchase its Pipe and Foundation Group (PFG), a leading producer of PVC pipe and fittings for municipal, water well, mining, agriculture and irrigation applications.