Profile of the International Valve Industry: Market Prospects to 2009

Profile of the International Va Ive In d ustry Market Prospects to 2009 Third edition Graham Weaver

ELSEVIER

UK USA JAPAN

Elsevier Ltd, The Boulevard, Langford Lane, Kidlington, Oxfbrd OX5 1GB, UK Elsevier Inc, 360 Park Avenue South, New York, NY 10010-1710, USA Elsevier Japan, Tsunashima Building Annex, 3-20-12 Yushima, Bunkyo-ku, Tokyo 113, Japan

Copyright 9 2004 Elsevier Ltd. Author: Graham Weaver, Weaver Associates Programme Editor: Roisin Reidy All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means: electronic, electrostatic, magnetic tape, mechanical, photocopying, recording or otherwise, without permission in writing ti'om the publishers. First edition published: December 1995 Second edition published: December 2000 Third edition published: October 2004 British Library Cataloguing in Publication Data Weaver, Graham Profile of the international valve industry : market prospects to 2 0 0 9 . - 3rd ed. 1. Vah'e industry 2. Valve industry- Forecasting 3. Valve industry- Directories 4. Market surveys I. Title 338.4'762184 ISBN 1856174433 Whilst every care is taken to ensure that the data published in this report are accurate, the Publisher cannot accept responsibility fbr any omissions or inaccuracies appearing or tbr any consequences arising therefi'om. No responsibility is assumed by the Publisher fbr any injury and/or damage to persons or property as a matter of products liability, negligence or otherwise, or fi'om any use or operation of any methods, products, instructions or ideas contained in the material herein. Published by Elsevier Advanced Technology The Boulevard, Langford Lane, Kidlington, Oxlbrd OX5 1GB, UK Tel: +44(0) 1865 843000 Fax: +44(0) 1865 843971 Typeset by Land & Unwin (Data Sciences) Ltd, Bugbrooke Transferred to digital printing 2005

Contents

List of Tables About the Author About Elsevier Advanced Technology Executive Summary Chapter I

Introduction and Economic Overview

Chapter 2

Industry Overview

Chapter 3

Chapter 4

1.1 1,2

2.1 2.2

Introduction Industry Structure

Mergers and Acquisitions Changing Customer Base Prices and Costs Customer Service E-business Technical Issues and Legislation

Mergers and Acquisitions Review 4.1 4.2 4.3 4.4 4.5 4.6 4.7 4.8 4.9 4.10 4.11 4.12 4.13 4.14 4.15 4.16

X

xi

Introduction Economic Overview

Industry Issues

3.1 3.2 3.3 3.4 3.5 3.6

vii ix

Fourth Quarter 2000 First Quarter 2001 Second Quarter 2001 Third Quarter 2001 Fourth Quarter 2001 First Quarter 2002 Second Quarter 2002 Third Quarter 2002 Fourth Quarter 2002 First Quarter 2003 Second Quarter 2003 Third Quarter 2003 Fourth Quarter 2003 First Quarter 2004 Second Quarter 2004 Third Quarter 2004

Profile of the International Valve Industry

15 15 15

16 1"/

18 18 19 19

20 2O 21 21 22 22 23 23 24 24 25 25 25 26 26

iii

Contents

iv

Chapter 5

International Valve Market 5.1 Market Overview 5.2 Regional Overview 5.2.1 Western Europe 5.2.1.1 Germany 5.2.1.2 United Kingdom 5.2.1.3 France 5.2.1.4 Italy 5.2.1.5 Spain 5.2.1.6 Benelux Countries 5.2.1.7 Nordic Countries 5.2.1.8 Rest of Western Europe Central and Eastern Europe 5.2.2 5.2.2.1 Russia 5.2.2.2 Rest of Central and Eastern Europe 5.2.3 Middle East 5.2.4 Africa 5.2.5 Asia and Far East 5.2.5.1 Japan 5.2.5.2 China 5.2.5.3 South Korea 5.2.5.4 India 5.2.5.5 Other Asia 5.2.6 Australasia 5.2.7 North America 5.2.7.1 USA 5.2.7.2 Canada 5.2.8 Central and South America 5.2.8.1 Mexico 5.2.8.2 Brazil 5.2.8.3 Rest of Central and South America

29 29 30 30 31 33 34 35 36 37 38 39 41 42 43 44 46 48 48 49 52 53 54 56 57 57 58 59 60 61 63

Chapter 6

End-User Markets Introduction 6.1 Water and Wastewater 6.2 Chemicals 6.3 6.3.1 Pharmaceuticals 6.3.2 Petrochemicals Oil and Gas Production 6.4 Petroleum Refining 6.5 Oil and Gas Transmission 6.6 Power Generation 6.7 Paper and Pulp 6.8 Construction 6.9 6.10 Food and Beverage 6.11 Iron and Steel

65 65 66 68 74 76 77 81 83 85 89 91 92 94

Chapter 7

Valve Technology 7.1 Introduction 7.2 Valve Types Ball Valves 7.2.1 Butterfly Valves 7.2.2 Check Valves 7.2.3 Diaphragm Valves 7.2.4 Gate Valves 7.2.5 Globe Valves 7.2.6

97 97 98 99 100 101 102 102 103

Profile of the International Valve Industry

Contents

7.3

7.4 7.5

7.6

7.2.7 Needle Valves 7.2.8 Pinch Valves 7.2.9 Plug Valves 7.2.10 Pressure Reducing Valves 7.2.11 Safety and Relief Valves 7.2.12 Solenoid Valves 7.2.13 Control Valves Technology Requirements 7.3.1 Fugitive Emission Control 7.3.2 Noise Control 7.3.3 Corrosion 7.3.4 Cleaning Legislation 7.4.1 The Pressure Equipment Directive 7.4.2 ATEX Automation 7.5.1 Smart Valves 7.5.2 Field Bus Control Systems 7.5.3 Actuators 7.5.4 Control Valve Platforms Materials

103 104 104 104 104 105 105 105 106 107 108 108 108 108 109 110 110 111 111 112 112

Chapter 8

Top 10 Valve Manufacturers

115

Chapter 9

Profiles of Leading Valve Manufacturers Arca Flow Group 9.1 Ari-Armaturen Albert Richter GmbH & Co KG 9.2 Auma Werner Riester GmbH & Co KG 9.3 Bonomi Group 9.4 Bopp & Reuther 9.5 Circor International Inc 9.6 Conbraco Industries 9.7 Cooper Cameron Corp 9.8 Crane Co 9.9 9.10 Curtiss-Wright Corp 9.11 Danfoss A/S 9.12 Dresser Inc 9.13 Ebro Armaturen Gebr Br6er GmbH 9.14 Emerson Electric Co 9.15 Flowserve Corp 9.16 Gem~ Gebr Mf~ller Apparatebau GmbH & Co KG 9.17 Hitachi Valve Ltd 9.18 IMI plc 9.19 ITT Industries Inc 9.20 Kitz Corp 9.21 KSB Group 9.22 Kubota Corp 9.23 Kurimoto Ltd 9.24 Maezawa Industries Inc 9.25 Metso Corp 9.26 Motoyama Engineering Works Ltd 9.27 Nakakita Seisakusho Co Ltd 9.28 Nibco Inc 9.29 Nihon Koso Co Ltd 9.30 Okano Valve Mfg Co 9.31 Precision Castparts Corp

117 117 118 119 119 120 122 124 125 127 130 132 134 136 137 139 141 142 142 144 146 147 149 149 150 151 152 153 153 154 154 155

Profile of the International Valve Industry

v

Contents

9.32 9.33 9.34 9.35 9.36 9.37 9.38 9.39 9.40 9.41 9.42

vi

Richards Industries Valve Group Rotork Samson AG Mess-und Regeltechnik Spirax-Sarco Engineering plc SPX Corp Tomoe Valve Co Ltd Tyco International Ltd Valvitalia Velan Inc The Weir Group plc Yamatake Corp

157 158 161 161 162 164 164 167 167 168 171

Chapter 10

Directory of Valve Companies

173

Chapter 11

Appendices

241

11.1 Valve Associations 11.2 Exchange Rate Table

Profile of the International Valve Industry

241 247

List of Tables

Table A. 1 Table A.2 Table 1.1 Table 1.2 Table 2.1 Table 5.1 Table 5.2 Table 5.3 Table Table Table Table

5.4 5.5 5.6 5.7

Table 5.8 Table 5.9 Table 5.10 Table 5.11 Table 5.12 Table Table Table Table Table Table Table Table Table Table Table Table Table Table

5.13 5.14 5.15 5.16 5.17 5.18 5.19 5.20 5.21 5.22 5.23 5.24 5.25 5.26

Industrial Valve Market by Region (US$ million) Industrial Valve Market by Type (US$ million) Gross Capital Formation in 2002 Top 20 Economies Index of Industrial Valve Production Industrial Valve Market in Western Europe (US$ million) Industrial Valve Market in Germany (US$ million) Industrial Valve Market in United Kingdom (US$ million) Industrial Valve Market in France (US$ million) Industrial Valve Market in Italy (US$ million) Industrial Valve Market in Spain (US$ million) Industrial Valve Market in Benelux Countries (US$ million) Annual GDP Growth in Nordic Countries (%) Industrial Valve Market in Nordic Countries (US$ million) Industrial Valve Market in Rest of Western Europe (US$ million) Industrial Valve Market in Russia (US$ million) Industrial Valve Market in Rest of Central and Eastern Europe (US$ million) Industrial Valve Market in Middle East (US$ million) Industrial Valve Market in Africa (US$ million) Industrial Valve Market in Japan (US$ million) Industrial Valve Market in China (US$ million) Industrial Valve Market in South Korea (US$ million) Industrial Valve Market in India (US$ million) Gross Capital Formation in 2002 (US$ billion) Industrial Valve Market in Rest of Asia (US$ million) Industrial Valve Market in Australasia (US$ million) Industrial Valve Market in USA (US$ million) Industrial Valve Market in Canada (US$ million) Industrial Valve Market in Mexico (US$ million) Industrial Valve Market in Brazil (US$ million) Industrial Valve Market in Rest of Central & South America (US$ million)

Profile of the International Valve Industry

xi o=

Xll

3 3 8

31 32 34 35 36 37 38 38 39 41 43

44 46 48 49 52 53 54 55 56 57 58 59 61 63 64

vii

List of Tables

Table 6.1 Table 6.2 Table 6.3 Table 6.4 Table 6.5 Table 6.6 Table 6.7 Table 6.8 Table 6.9 Table 6.10 Table 6.11 Table 6.12 Table 6.13 Table 6.14 Table 6.15 Table 6.16 Table 6.17 Table 6.18 Table 8.1

viii

Industrial Valve Shipments by End-User Industry Breakdown of Global Chemical Production Chemical Industry Capital Spending (E million) Top 20 Chemical Companies in 2002 Top 20 Pharmaceutical Companies in 2003 New Petrochemical Investments during 2002-12 World Oil Production in 2003 World Natural Gas Production in 2003 Production at Worldwide Petroleum Refineries at the end 2003 World's Top 20 Refiners in 2003 World Generating Capacity (GW) Nuclear Power Plants in Operation and Under Construction (at July 2004) The World's 10 Largest Electricity Companies World Paper & Paperboard Production in 2002 Top 15 Paper and Board Producers in 2002 Top 20 Food and Beverage Companies in Fiscal 2002 World Production of Crude Steel in 2003 Top Steelmakers in 2003 World's Top 10 Valve Manufacturers in 2003

Profile of the International Valve Industry

65 69 70 73 75 76 78 79 81 82 86 88 89 90 91 93 94 96 115

About the Author

Graham Weaver has been an independent industrial market research consultant for more than 25 years, specializing in market and product studies in a wide range of sectors in the engineering and process industries. He has worked on a number of Elsevier Advanced Technology projects, including the previous second edition of this report which was published in 2000.

Profile of the International Valve Industry

ix

About Elsevier Advanced Technology

Elsevier Advanced Technology is an international B2B publishing group dedicated to serving the information requirements of industry and business professionals working in a range of industrial markets. Elsevier Advanced Technology publications provide a high-quality, reliable source of information to professionals within engineering, materials, IT security and energy. Products include specialist newsletters, journals and trade magazines, technical handbooks, market reports and conferences. Infbrmation on valve products can be found at www.worldpumps.com.

x

Profile of the International Valve Industry

Executive Summary

The world market for industrial valves is estimated to have been worth US$17.8 billion in 2003 and it is forecast to increase to US$22.2 billion in 2009 at an annual average rate of 3.8% pa. If Japan, where average growth over the forecast period will be only 1.9% pa, is excluded, the rest of Asia & the Far East will show the strongest growth at 6.8% pa, driven by particularly strong growth in China and India, followed by Eastern Europe at 5.3% pa and the Middle East at 4.9% pa.

Table A.1 Industrial Valve Market by Region (us$ million) 2003 North America I Central & South America Western Europe 2 Eastern Europe 3 Middle East Africa Asia & Far East Australasia Total

4242 785 6648 993 517 344 4016 244

17789

2004 4350 813 6840 1048 538 358 4223 251 18421

2005 4480 840 7076 1100 565 376 4416 260 19113

2006 4613 876 7320 1159 596 395 4641 269 19869

2007 4760 912 7572 1223 627 412 4886 278 20670

2009 5029 985 8064 1348 690 448 5387 300 22251

Notes: 1 USA & Canada; 2 Includes Turkey; 3 Includes EU Accession Countries

Diaphragm valves will show the fastest growth rate, at 4.2% pa, driven by strong growth in the pharmaceutical, biotechnology and electronic semiconductor industries. Automatic Control valves will also show good growth of 4.0% pa, driven by the growing use of Real-time Process Optimization (RPO) and plant asset management strategies, as well as the continued growth of automation.

Profile of the International Valve Industry

xi

Executive Summary

Table A.2 Industrial Valve Market by Type (US$ million) 2003 Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts Total

4260 2623 1233 304 951 2704 1769 3945

17789

2004 4404 2715 " 1271 311 987 2805 1836 4092 18421

2005 4567 2814 1317 324 1021 2914 1909 4247 19113

2006 4740 2924 1367 345 1059 3031 1989 4414 19869

2007 4933 3037 1420 358 1104 3155 2069 4594 20670

2009 5295 3263 1522 390 1185 3428 2237 4931 22251

The chemical industry, including petrochemicals, water and wastewater treatment, power generation and petroleum production and refining account for about 70% of industrial valve sales, and developments in these markets will continue to drive the valve market. Mergers, acquisitions and globalization are an increasing feature of tile major valve end-user industries. This is leading to a reduction in the customer base and is frequently associated, in the case of multi-nationals, with a consolidation of their procurement and in a number of cases the establishment of worldwide alliances with valve manufacturers. Major end-users, such as chemical manufacturers, are moving a significant amount of their production to cheaper locations in Eastern Europe, Latin America and Asia, both to reduce costs and also to better serve the growing markets in these areas, particularly China. Valve manufacturers are consequently expanding their presence in the faster growing markets in Asia and Latin America. Valve manufacturers are restructuring to cut costs, with several implementing worktbrce reduction programmes. Manufacturers are also consolidating their production facilities, through plant closures and transfer of production to other facilities, particularly to their existing or new t2acilities - or joint ventures - in cheaper countries such as China, India, Thailand, Mexico and Eastern Europe. Many valve manufacturers a r e focusing on problem solving as opposed to selling valves and by so doing building a stronger relationship with their customers. In addition, in the face of declining prices, valve manufacturers are also focusing on providing additional ancillary services, such as vah,e maintenance and repair. Several valve manufacturers have made acquisitions in the aftermarket services sector. Mergers and acquisitions have continued unabated since the last edition of this report in 2000. Tyco International has continued with its acquisitions to consolidate its position as market leader, with sales more than double those of its nearest rival.

xii

Profile of the International Valve Industry

Executive Summary

Flowserve Corp, formed through the merger of BW/IP Inc and Durco International Inc, has continued to make acquisitions and its Flow Control Division doubled its size in 2002 through the acquisition of Invensys Flow Control. Crane Valve also bolstered its sales by the acquisition of AIfa Laval's Industrial Flow Group and Xomox in 2001. The developing countries, seen as attractive markets, with their higher growth rates, have also been developing their own valve-manufacturing base and companies from these regions are becoming more active in the global market.

Profile of the International Valve Industry "xiii

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Introduction and Economic Overv,ew

This study of the valve industry reviews the markets, technological trends and major manufacturers of valves on a worldwide basis. Although an independent work, it can be seen as complementary to Profile of the International Pump Industry - Market Prospects to 2007 (2002, 5th edition) and Profile of the International Fluid Sealing Industry- Market Prospects to 2008 (2004, 3rd edition), both published by Elsevier Advanced Technology. The report considers the international valve industry, looking at flow control valves for industrial applications. Valves for internal combustion engines and domestic plumbing and central heating applications have been excluded.

Profile of the International Valve Industry- Market Prospects to 2009 has been researched using: a combination of personal and telephone interviews with key manufacturers on a worldwide basis; scientific and technical literature searches; and, detailed analysis of international production and trade statistics. Chapter one continues with an overview of the world economy as seen at the time of writing. Chapter two includes an industry overview looking at the structure of the industry and future trends. Chapter three highlights a number of issues facing the industrial valve industry. Chapter four provides a detailed overview of merger and acquisition activity in the industrial valve industry since the fourth quarter of 2000.

Profile of the International Valve Industry

1

1

Introduction and Economic Overview

Chapter five gives brief economic and industry notes fbr the world's major countries and geographic regions and provides market size estimates for 2003, plus fbrecasts from 2004 to 2009. Chapter six looks at the main end-user markets for industrial valves, highlighting trends and developments. Chapter seven contains a technology review outlining the basic principles, types and materials associated with valves, as well as highlighting major developments. Chapter eight provides a 'top ten' of companies based on sales of industrial valves and services. Chapter nine contains profiles of 42 leading industrial valve manufacturers with details of (where available) company history, products, markets, manufacturing facilities, mergers and acquisitions, and, financial intbrmation. Chapter ten is a directory of more than 850 industrial vah,e manufacturing companies with details (where available) of address, telephone and fax numbers, key executives, products manufactured, sales figures and employees.

The market for new valves is obviously influenced by the capital expenditure levels in the main end-user industries, which in turn is affected by general economic conditions. Based on statistics for 2002 (the latest available comprehensive data) for Gross Capital Formation (formerly Gross Domestic Fixed Investment) defined as the outlays on additions to the fixed assets of the economy plus net changes in the level of inventories- the North America region was responsible for the largest amount of capital investment, with 30.7% of the world total tbllowed closely by the Asia & Far East region, with 29.5% of the total.

2

Profile of the International Valve Industry

1 Introduction and Economic Overview .

.

.

.

.

.

.

.

.

.

.

Table !.1 Gross Capita! Formation in 2002 Country/Region

Gross Capital Formation Gross Capital Formation (Current US$ billion) (% World Total) .

.

.

North America Central & South America 1 Western Europe 2 Central & Eastern Europe 3 Middle East Africa Asia & Far East Australia & New Zealand

Total

.

.

.

.

.

.

.

.

.

2031.6 325.7 1773.4 215.5 112.1 107.5 1951.5 110.7

30.7% 4.9% 26.8% 3.2% 1.7% 1.6% 29.4% 1.7%

6628.0

100%

1 Includes Mexico and Caribbean 2 IncludesTurkey 3 Includes Former Soviet Union (FSU) Source: The World Bank Group

Twenty countries accounted for 87% of Gross Capital Formation in 2002 and clearly have a great influence on the valve market.

Table 1.2 Top 20 Economies Country/Region

Gross Capital Formation In 2002 (Current US$ billion)

USA Japan China 1 Germany France United Kingdom Italy Spain Canada Mexico South Korea India Australia Brazil Netherlands Russian Federation Taiwan Belgium Switzerland Austria

1886.9 961.1 550.3 358.1 275.9 246.2 235.9 169.9 144.7 129.1 124.2 116.5 98.8 92.0 85.2 73.0 49.9 47.6 46.7 44.5

Total

5736.5

1 IncludesHong Kongand Macao Source: The World Bank Group & Taiwan Ministry of Finance

Profile Of the International Valve Industry

3

1 Introduction and Economic Overview

With the global recovery strengthening and broadening, the International Monetary Fund (IMF), in its April 2004 forecast, revised upwards its forecast of global Gross Domestic Product (GDP) growth in 2004 and 2005 to 4.6% and 4.4% respectively, following growth in 2003 of 3.9%. However, this recovery that started in the second half of 2003, and which has continued in early 2004, is facing significant challenges and risks. These include the continuing problems in the Middle East and the fear of terrorist attacks, which have led to soaring oil prices, as well as the need to achieve an orderly resolution of global imbalances, notably the large US current account deficit and surpluses elsewhere. Difficult medium-term fiscal situations in many industrial and emerging market economies will also have to be addressed. Among the industrial countries, recovery will continue to be led by the USA, where expansion is now firmly established across most sectors of the economy, helped by continued stimulus from fiscal and monetary policies. Despite a weak labour market and considerable excess capacity, growth of GDP, which was 3.1% in 2003, is fbrecast to rise to 4.6% in 2004, falling back to 3.5% in 2005. In the euro area, continued disappointing private domestic demand and the appreciation of the euro led to growth of only 0.4% in 2003. With the overall policy stance less supportive and the region-wide outlook adversely affected by the continuing difficulties in Germany, the projected pick-up is expected to be relatively gradual, supported mainly by a gradual pick-up in private consumption and inventories, and the expected improvement in external demand. GDP growth is forecast at 1.7% in 2004 and 2.3% in 2005. In Japan, the economic expansion gained momentum in late 2003, thanks to an acceleration of business investment and exports and some strengthening of private consumption. This resulted in a growth in GDP in 2003 of 2.7% after the thll of 0.3% that had occurred in 2002. The pick-up in world trade and steady increase in domestic demand, buoyed by some improvement in the labour market, is expected to result in GDP growth in 2004 of 3.4%, as forecast by the IMF, although the Organisation tbr Economic Co-operation and Development (OECD) is more cautious with a forecast of only 3.0%. The outlook for emerging markets continues to be driven - to differing e x t e n t s - by developments in industrial countries, external financing conditions, geopolitical factors, and country-specific developments. In emerging markets in Asia, with the effects of Severe Acute Respiratory Syndrome (SARS) less than expected, growth picked up in the second half of 2003 and the year enjoyed a GDP growth of 7.2%. Growth in Asia is expected to remain high in 2004, based on the continued momentum of domestic demand and the strong outlook for the global economy.

4

Profile of the International Valve Industry

1 Introduction and Economic Overview

In Central and Eastern Europe, GDP growth in the countries of the former Soviet Union exceeded expectations in 2003 and is estimated at 7.6%. Growth was fuelled by high oil prices, buoyant consumption and wage growth, highly competitive exchange rates and unexpected strong growth in investment. Looking forward, the IMF expects GDP growth to moderate to 6.0% in 2004 and 5.2% in 2005, as consumption and investment growth return to more sustainable levels. The eight EU accession countries also showed strong growth in 2003, led by the three Baltic states of Estonia, Latvia and Lithuania, with a GDP growth of 7.4%. The IMF forecasts that this growth will ease to 6.2% in 2004 and 5.9% in 2005. The five central European states of Czech Republic, Hungary, Poland, Slovak Republic and Slovenia had a combined GDP growth in 2003 of 3.4%. The IMF expects this growth to increase to 4.0% in 2004 before easing slightly to 3.8% in 2005, with Poland and the Slovak Republic showing strongest growth. Activity in much of Latin America appears to be stabilizing and external confidence in the r e g i o n - particularly Brazil- has improved markedly. Growth is expected to strengthen during 2004 as the recovery in domestic demand takes further hold, although the outlook remains vulnerable to deterioration in the global financial market environment or domestic policy slippages that undermine investor confidence. In the Middle East, while the quick end to the conflict in Iraq had initially boosted confidence, the fragile security situation remains a major source of uncertainty. In 2003, oil-exporting countries benefited from both higher world oil prices and increased export volumes, as they raised oil output to replace the loss of Iraqi production and as the demand for oil picked up as the global economy gained momentum. G DP growth for the whole region increased from 4.2% in 2002 to 5.4% in 2003. Geopolitical uncertainties and the unsettled security situation make short-term forecasts for the region difficult to determine, with the medium-term

growth

prospects

depending

crucially on

structural

refbrms in a number of its countries.

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5

This Page Intentionally Left Blank

Industry Overview

Industrial valves control not only the flow, but also the rate, volume, pressure and/or direction of liquids, gases, slurries or dry materials through a pipeline, chute or similar passageway. They can turn on and off, regulate, modulate or isolate and are essential for pipe maintenance and as fail-safe devices. Industrial valves can range in size from a few millimetres to many metres in diameter and handle temperatures between the cryogenic region and those of molten metals, with pressures ranging from high vacuum to high pressure. Valves can be bought as standard products, frequently called commodity valves, or as engineered units purpose-built for a specific application. The main application markets are chemical processing (including petrochemicals and pharmaceuticals), water and wastewater treatment, power generation, petroleum production and refining, oil and gas pipelines, pulp and paper production and, commercial construction. Standard valves are found in great numbers in the water treatment industry and in the services element of other industries, for example steam and water supply. Specialized products can be found in all industries to meet specific requirements. A major growth area during recent years has been in automatic industrial valves, particularly as replacements for standard valves to give continuous and automatic control. Such valves allow companies to reduce maintenance costs and meet increasingly stringent noise and fugitive emission controls. Most valves are small items costing relatively little to buy and install, but with the potential to absorb large amounts of money in maintenance and unplanned shut-downs. Valve manufacturers have been concentrating on improving valve reliability, reducing the cost of ownership and working more closely with their customers. The valve industry is a relatively mature industry from a technology

Profile of the International Valve Industry 7

2

Industry Overview

standpoint and the emphasis has been on control and communications as much as on improved design and materials. In spite of difficult market conditions German and US industrial valve manufacturers have been able to maintain production growth, albeit at a low level, since 2000, whilst production in Japan has been in decline. Table 2.1 Index of Industrial Valve Production Year

Germany_

USA

Japan

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003

100 113.5 123.9 114.7 112.3 128.1 129.2 121.3 124.0 118.6 119.3 121.5 123.6 125.3

100 104.0 106.3 103.9 100.2 112.2 118.3 117.1 116.2 114.1 117.1 118.6 119.4 120.2

100 108.2 101.6 93.8 90.8 99.7 104.3 104.3 95.4 87.8 91.5 89.1 81.4 na

Sources: VDMA/Federal Statistical Office Germany, VMA and MITI

The industrial valve industry is made up of a relatively small number of large, global businesses and a very large number of small-to-mediumsized manufacturing companies, many of which specialize in niche markets, products or applications. North America

There is conflicting intbrmation about the size of the US industrial valve manufacturing industry. The US Department of Commerce in its Annual Survey of Manufacturers in 2000 reported that in 1999 there were 585 establishments, with 20 or more employees involved in industrial valve manufacturing (NAICS 332911), who were responsible fbr nearly US$8.2 billion of product shipments. Later figures from the US Department of Commerce report shipments of US$8.3 billion in 2001. However, there is some possibility of 'double counting'. The Valve Manufacturers' Association (VMA), meanwhile, claims that its member companies- just over 100 US and Canadian valve and actuator manufacturers, employing around 20 000 p e o p l e - account fbr about 80-85% of the annual US industrial valve production. The VMA

8

Profile of the International Valve Industry

2

Industry Overview

estimates that total industry annual shipments of industrial valves in 2003 were US$3.16 billion, of which about 40% was exported. US companies, through the benefit of having a large domestic market coupled with aggressive mergers and acquisitions policies, have established a dominant position in the world industrial valve market, with seven of the top ten companies based in the country- see section 8. During a period of 15 years, Tyco International has acquired more than 60 valve brands covering the whole spectrum of industrial valve manufacturing and established itself as the clear market leader, with sales more than double those of its nearest rival. Other major US industrial vah,e manufacturers include: Emerson Process Management (part of Emerson Electric); Flowserve Flow Control Division, which doubled in size in 2002 through the acquisition of Invensys Flow Control; Dressser; Crane Valve, with sales bolstered by the acquisition of Alfa Laval's Industrial Flow Group and Xomox in 2001; Cooper Cameron Valve; Circor international; Curtiss-Wright Flow Control; SPX Valves and Controls; PCC Flow Technologies; Conbraco Industries; ITT Engineered Process Solutions Group; and, Richards Industrial Valve Group.

Japan According to official government statistics for 2001, there were 667 Japanese valve manufacturers with four or more employees. The majority of the companies are small factories that supply speciality machine processes to larger firms. It is believed that the number of companies manufacturing and selling valves (domestic and industrial) under their own brand names is probably only 200 or so. The Japan Valve Manufacturers' Association, which comprises 133 companies as full members and an additional 55 companies as associate members, represents the major domestic and industrial valve manufacturers. Industrial valve production in Japan in 2003 is estimated at u billion (US$2069 million)of which about 60% were exports.

Kitz, Japan's largest industrial valve manufacturer- a position it strengthened in December 2003 with the acquisition of Toyo Valve's Japanese and Thai operations- has also established a strong world presence, being the fifth largest valve company in the world. Other major Japanese industrial valve manufacturers include Kubota Valve Division, Okano Valve Manufacturing, Kurimoto, Nihon Koso, Tomoe Valve, Maezawa Industries, Yamatake, Motoyama Engineering Works and Hitachi Valve.

Profile of the International Valve Industry 9

2

Industry Overview

Germany There are reported to be around 170 German manut~acturers of industrial valves employing 17 600 people, with most of the firms being highly specialized, small to medium-sized companies. The Association of German Valve Manufacturers within VDMA (German Machinery and Plant Manufacturers' Association) includes 140 manufacturers of industrial valves. German industrial valve production increased by 1.3% in 2003 to C2118 million (US$2391 million), of which about 69% were exports, with around 20% of exports going to Asia. KSB is the largest industrial valve manufacturer in G e r m a n y - and also the largest pump manufacturer- and ranks ninth largest in the world. Other major German industrial valve manufacturers include Auma Werner Nester, Bopp & Reuther Group, ARI Armaturen Albert Richter, Gemti Gebr Mailer Apparatebau and Arca Flow Group. Tyco, Flowserve and Crane, meanwhile, have each established a major manufacturing presence in Germany through a series of acquisitions.

UK The British Valve and Actuator Association (BVAA) represents more than 60 British companies, employing 8000 people directly in manufacturing and an equal number in support industries, with combined sales in excess of s million (US$820 million). Industrial vah,c production in 2002 was C853 million (US$963 million). The US multinationals have established a very strong presence in the UK. Tyco, which had already established a major position over many years through the acquisition of companies including Anderson Greenwood/ Crosb); Dewrance, Hindle Cockburns, Keystone (UK) and Charles Winn Valves, added to its portfolio with the acquisition of the Bailey Birkett safety vah,e business in 2001. Flowserve, which had earlier acquired Valtek Engineering, made a major addition in 2002 with the purchase of Invensys Flow Control, while Crane has increased its UK activities through the acquisition of Alfa Laval's Industrial Flow Group, including the Saunders Valve business at Cwmbran, and Xomox, with a facility at Ilfracombe. Curtiss-Wright is another recent entrant to the UK market through the acquisition ofSolcnt & Pratt. Other multinationals with a presence in the UK include" Dresser; Emerson Process Management; SPX Vales & Controls; and, Velan. Major indigenous industrial valve manufacturers include Spirax Sarco Engineering, Weir Valves & Controls, and, the actuator specialist Rotork. IMI, having sold off its Safety Systems Group, no longer has vah,e manufacturing activities in the UK, but has a strong presence in the USA through its CCI severe service business.

10

Profile of the International Valve Industry

2 Industry Overview

Italy The Italian valve manufacturing industry occupies a notable position in the European market, where it is the second largest valve manufacturer after Germany, and in world valve markets. Traditionally strong in domestic valve production, Italian valve manufacturing has also established a major presence in the industrial valve market. Although Italy has a large number of small manufacturers, the Italian Valve and Fitting Manufacturers' Association (AVR)- a member of ANIMA (the Federation of the Italian Association of Mechanical and Engineering Industries) - represents the majority of valve manufacture in Italy. AVR has around 80 member companies, employing more than 15 000 people, of which about a half manufacture industrial valves. Italian valve manufacture in 2003 is estimated at E3278 million (US$3702 million), of which about 25% were industrial valves. Italy has a large number of small producers, although more than 50% of production is concentrated in less than 12 companies. Tyco has established a strong presence in the country through its three subsidiaries" Fasani and Raimondi Valvole, both manufacturing gate, globe, check and ball valves, and Vanessa, a manuf?cturer of rotary process valves. Dresser has also established its international headquarters at its subsidiary Grove Italia at Voghera. Other multinationals that have manufacturing facilities in Italy include PCC Flow Technologies and Velan. Italy's largest indigenous industrial valve manufacturer is Valvitalia, which was tbrmed in 2002 by bringing together Delta Valves Europe, DynaLok, Rotor, Thevignot, Vanadour, Tormene Gas Technology and Vitas. The smaller Bonomi Group comprises the valve companies Rubinetterie Bresciane Bonomi, Valpres and Valbia.

France The 71 members of the Valves Division of the French Pump & Valve Manufacturers' Association (AFCP-AFIR) are responsible for the bulk of French valve production, which in 2003 was valued at around El.5 billion (US$1.7 billion), of which about 65% was the production of industrial valves. Direct exports account for nearly 50% of French valve production. France has many small valve manufacturers largely servicing national needs. Tyco has established a strong presence through it subsidiaries Bayard, Descote, FCT, Gachot, Klein, Mecafranr and Sapag. In 1999, the Canadian company Velan acquired 100% ownership of its previous joint venture company Alstom-Velan, and acquired the cryogenic control valve line of Adareg, as well as Bouvier-Darling, a specialist in valves for the nuclear and tbssil power industries. Profile' of the International Valve Industry'

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Other foreign companies that have established a manufacturing presence in France include: Cooper Cameron Valves; Crane; Danfoss, which expanded its Dantbss Socla operations in 2003 with the acquisition of Desbordes; Emerson Process Management; KSB; Metso Automation; and, Weir Valves & Controls. One of the more significant indigenous valve manufacturers is KTC Fluid Control with three plants- F6camp (ex-Trouvay & Cauvin), Gumpoldskirchen (ex-Klinger) and Saint-Dizier (ex-Th&ignot-Vanadour).

Russia It is reported that Russian valve manufacture increased ti'om US$343 million in 1998 to US$570 million in 2002. The Scientific and Industrial Valve Manufacturers Association (NPAA), which was tbunded in 1990, has around 100 member firms, including vah,e and actuator designers, producers and dealers from Russia, Ukraine, Kazakhstan, Uzbekistan, Armenia and Latvia. Major valve manufacturers include Arzil, Armagus, Armalit-1, Blagoveshchensky Valve Plant, Fitting-P, Chernjachovsky Car Repair Plant, Energopred-Yardos, Ivano-Frankovsky Valve Plant, Ikar, Nickopolsky Valve Plant, Pezensky Valve Plant, Penztjazhpromarmatura, Rakitynsky Valve Plant, Roost-95, Samaravolgomach, Splav Machine Building, Tulaelectroprivod, Tyazhpromarmatura, Ust-Kamenogorsky Valve Plant, Valves & Flanges Plant (Omsk), YuzhuralarmaturaSantechnik, Yargasarmatura (Chaikovsky), Zeim and Znamya Truda.

China Official statistics show China having 659 manufacturers of domestic and industrial valves (although this may be an underestimate with one press report putting the figure at 4000) producing valves worth RMBI4.85 billion (US$1.8 billion). Major indigenous manufacturers include China Jiangnan Valve, China Shenjiang Valve, Dalian Hongyu Valve Industry, Neway Valve, Shanghai Flow Valve & Fitting, Shanghai Halin Control Valves, Shanghai Karon Valves Machinery, Suzhou Valve (SUFA Valves), Viza Valves, Xiamen Jia Da Quan Valve & Fitting, Xiamen Landee Industries, Xiamen Wccan Vah,e, Yancheng Power Station Valve Factory, Yancheng High & Medium Pressure Valve, Zhejiang Baoyi Valve Group, Zhejiang Chaoda Valve, Zhejiang Dafulong Vah'e and Zhejiang Fangzheng Valve Factory.

Rest of World As reported in other sections of this report there is a migration of industrial valve production from North America and Western Europe to the cheaper countries in Asia, Eastern Europe and South America as the large and medium-sized valve manufacturers seek to reduce their production costs and this trend will continue.

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Profile of the International Valve Industry

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Industry Overview

The very low profit margins of recent years have caused investment problems for smaller companies in Europe and the USA. Smaller companies often cannot compete with the low-cost manufacturing areas in Asia, Eastern Europe and South America for commodity products or the economies of scale achieved by the large manufacturers. Any move to the value-added, high technology manufacturing that will secure their future must be funded from profits or by a leap of faith on the part of management. Those valve companies that are part of a larger, multiproduct organization are better placed to fund such moves. Medium-sized companies with turnovers up to US$50 million, and which are solely valve manufacturers, are vulnerable, as their profit margins are often low in very difficult market situations. Small companies can survive only by developing specialist niche products, which often make them attractive to larger companies that are anxious to add to their portfolio of products. The very small, innovative companies have a future, as their low overheads and specialized skills and knowledge allow them to function in difficult markets. The future, therefore, for valve companies at opposite ends of the spectrum is more secure than the future for medium-sized companies. The large companies will continue to acquire companies to fill in the gaps in their product range and/or to enter new markets.

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Industry Issues

Mergers and acquisitions continue to be a major factor affecting the industrial valve market. As reported in Chapter 4 of this report, Tyco International has continued with its acquisitions to consolidate its position of market leader, while all of the other major valve manufacturers, including Crane, Flowserve and SPX, have made significant acquisitions during recent years. These acquisitions have led to the major companies further extending their product ranges and customer base, with some increasing their global spread. Looking ahead, mergers and acquisitions will undoubtedly continue during the forecast period, but the pace of activity is likely to be more subdued. As an alternative to a merger, a group of European medium-sized, owner-operated manufacturers of industrial valves formed the 'European Valve Alliance' in March 2002. The member companies - Alfa Valvole (Italy), Hora Regelarmaturen (Germany), Igema (Germany), Kiihme Armaturen (Germany), Leser (Germany) and StahI-Armaturen PERSTA (Germany) - are cooperating in the areas of: e-commerce; fairs/exhibitions; joint order processing; technical and commercial customer service; and, production. The Alliance allows member companies to of I~r their customers a broader range of products and services.

Mergers, acquisitions and globalization are an increasing feature of the major valve end-user industries. This is leading to a reduction in the

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Industry Issues

customer base and is frequently associated, in the case of multi-nationals, with a consolidation of their procurement arrangements and, in a number of cases, the establishment of worldwide alliances with valve manufacturers. In some markets, this is offset by the break-up of state monopolies and the deregulation of power and water utility markets. This is often followed, after a number of years, by consolidation under private ownership. Major end-users, such as chemical manufacturers, are moving a significant amount of their production to cheaper locations in Eastern Europe, Latin America and Asia, both to reduce costs and to better serve the growing markets in these areas, particularly China. Major valve manufacturers are consequently expanding their presence in the faster growing markets in Asia and Latin America. In the market for new components, valves are rarely purchased fbr themselves, but as part of an engineering package and are, in turn, a subcontract within that package. Thus major plant contractors such as Foster Wheeler, Bechtel, Fluor, KBR (Halliburton), ABB Lummus, Snamprogetti and Stone & Webster (Shaw Group) are important targets for valve manufacturers as well as the large oil and petrochemical companies such as BP Amoco, Dow Chemical and Exxon-Mobil.

Traditionally, when specifying a valve, the user would consider performance, quality, service life and price, often in that order. This has now changed and the valve industry has become much more price and cost sensitive. This trend is enforced as the large users reduce the list of their preferred suppliers to reduce the costs of tendering exercises and increasingly require discounts. There has been downward pressure on prices with end-users demanding very tight costing from plant manufacturers in difficult markets due to economic conditions. These price cuts are then transmitted down the purchasing trail to the valve manufhcturers. Many valve prices are now lower than they were a few years ago and this is impacting on the size of markets. In an effort to increase competitiveness, valve manufacturers are aggressively targeting cost savings. Lean enterprise programmes and the use of Six Sigma tools are widespread as companies seek to reduce waste and improve consistency and reduce cycle time.

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Industry Issues

Valve manufacturers are restructuring to cut costs, with several, including Crane, Flowserve and KSB, implementing workforce reduction programmes. Manufacturers are also consolidating their production facilities, through plant closures and the transfer of production to other facilities, including new facilities and joint ventures in cheaper countries such as China, India, Thailand, Mexico and Eastern Europe. Valve manufacturers are also recognizing the benefits of manufacturing close to their customer base - particularly in the growing Chinese market. The outsourcing of components, such as castings, and also finished products is also increasing to the same lower cost countries. Several companies have also restructured their sales and marketing activities, with cost savings and improved efficiency in mind. In 2002, KSB introduced a functional organization for its European companies. All sales and marketing activities for pumps and valves, as well as development, production and product management, have been brought together. Crane is currently in the process of transitioning from seven separate valve companies to a single, integrated operating company under one management.

In the intensely competitive market, customer service is increasing in importance. The critical nature of many valve and actuator applications requires the supplier to be immediately on-hand when the end-user faces a problem in the production process, with 24-hour availability. End-users, to reduce their costs, are seeking to reduce the number of suppliers that they deal with, leading to an increased demand for 'onestop shopping'. There is, therefore, a consequent need for the valve supplier to be able to offer the widest spectrum of products and services, including actuators and other control accessories. KSB, for example, reports a growing number of framework agreements to supply pumps and valves. Malay valve manufacturers are focusing on problem solving, as opposed to selling valves, and by so doing building a stronger relationship with their customers. In the face of declining prices, valve manufacturers are also focusing on providing additional ancillary services, such as valve maintenance and repair. Several valve manufacturers, including Crane, Curtiss-Wright, Dresser and PCC Flow Technologies, have made acquisitions in the aftermarket services sector.

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Industry Issues

There is clearly an increasing demand fbr these services as operators of municipal utilities and industrial plants, to reduce fixed costs, cut back on their own process engineering resources, including design, planning, maintenance and repair.

Business-to-business (B2B) exchanges have proliferated over the last few years in many industry sectors and this is impacting valve manut)cturers and suppliers. A major development has been Trade-Ranger TM, which was launched in July 2000, and today claims to be the world's only e-procurement marketplace serving the oil and gas, and chemical industries- although there are several platforms focussing on just the chemical industry, including elemica, ChemConnect and cc-chemplorer. The tbunding members of this initiative were" BP, Conoco, Dow Chemical, ENI, Equilon Enterprises, Mitsubishi Corp, Motiva, Occidental Petroleum, Phillips Petroleum, Repsol YPF, Royal Dutch Shell, Statoil, Tosco, Total and Unocal. Trade-Ranger focuses on connecting buyers and suppliers in the upstream, downstream and retail sectors, allowing them to do business with each other through a single, secure, independent channel. There are now more than 1900 member companies. As the big end-users of valves, such as the chemical and oil & gas companies, increase their use of e-procurement, valve manufacturers will need to adapt to the changing marketplace. The considerable potential of" e-commerce is expected to be an important issue tbr the vah'e industry during the forecast period. Most large valve manufacturers, and many small ones, now offer online catalogues and online ordering.

During recent years valve manufacturers have had to address several technical issues involving significant costs, which end users have been unwilling to accept. These have included the new fugitive emission testing requirements and the two new EU directives- the Pressure Equipment Directive (PED) and the ATEX (Atmospheres Explosible) Directive. These are discussed in more detail in Chapter 7 of this report.

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Mergers and Acquisitions Review

Mergers and acquisitions have continued unabated since the last edition of this report in 2000. Tyco International has continued with its acquisitions to consolidate its position as market leader, while all of the other major valve manufacturers, including Circor International, Crane, Flowserve, KSB, Precision Castparts (PCC) and SPX, have also made significant acquisitions. The following listing of mergers and acquisitions since the fourth quarter of 2000 illustrates the range of deals concluded during the period.

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Crane acquired the assets of the Valve Repair Division of Groth for approximately US$3.4 million. Located in Houston, Texas, USA, the Valve Repair Division provides both shop and field testing and repair for a broad range of valve types, and is an authorised factory repair facility for many of the leading valve manufacturers. Circor International acquired the Rockwood Swendeman product range, a line of cryogenic safety relief valves that was manufactured and distributed in Scarborough, Maine, USA, fbr a cash sum of

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US$4 million. Precision Castparts bought the valve division of Wouter Witzel Holland, based at Losser, and its subsidiaries, Wouter Witzel GmbH in Germany and Wouter Witzel UK Ltd. The deal was valued at US$14 million. KSB extended its service network by taking over Uder Elektromechanik. The company, with a staff of almost 50, complements KSB's electric drive service portfolio with its range of electromechanical services. Rotork bought the Skilmatic actuator business and assets from Skil Controls. Dresser acquired Becker Precision Equipment, a manufacturer of control valves and rotary and linear actuators. Profile of the International Valve Industry

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IMI pic, a major international engineering group, acquired the BTG service valves business from Fairey Group (now Spectris) for a cash consideration of approximately s million. BTG, which had sales in 2000 ofs million, had manufacturing facilities in Sweden and now forms part of IMI's CCI Valves business. Curtiss-Wright acquired the operating assets of UK-bascd Solent & Pratt, a manufacturer of high performance butterfly valves tbr US$1.5 million in cash and the assumption of certain liabilities. Glynwed sold its pipe systems business, which included Friatec, to the Belgium-based Etex Group tbr s million. When Glynwcd acquired Friatec in 1998, the German company added a range of high-margin non-commodity pipe systems to Glynwed's portfolio, as well as the new area of specialist pumps and valves.

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Crane completed the acquisition of the Industrial Flow Group of Alth Laval tbr US$37 million. The Industrial Flow Group of Alth Laval included the Saundcrs brand of diaphragm valves manufactured in the U K and India. 9 Crane acquired the Xomox vah,e business from Emerson Electric for US$145 million. Xomox, a supplier of sleeved plug, lined valves, high performance butterfly valves and actuators, had sales in 2000 of around US$145 million, with major manufacturing thcilities in the USA, Mexico, Germany, Hungary and a 49% interest in an Indian plug valve manufacturer. 9 SPX completed the acquisition of United Dominion Industries in an all-stock transaction valued at US$1.1 billion, creating an industrial group with sales of around US$5 billion. Several water control business units within UDI and SPX were combined to tbrm SPX Valves & Controls. 9 Danfoss acquired fellow Danish company JiP Kuglcventilcr, a manufacturer of district heating ball valves, from the Powell Duffryn Group, UK. 9 IMI sold its Sati:ty Systems Group (Bailey Birkett, Amal and Marston Bursting Discs in the UK), its ball vah,e business (Mccafrance in France and MCF in the USA) and Cash Valve in the USA, to Tyco Flow Control (UK). The value of transfi:rred assets at completion was s million and the businesses generated sales ofs million in 2000.

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Circor International acquired a 75% interest in Regeltechnik Kornwestheim and affiliates (RTK) for US$10.6 million. RTK manufactures control valves, regulators, actuators and associated instrumentation in Stuttgart, Germany. Circor International acquired the French manufacturer of control valves, regulators, actuators and related components, Soci&E Alsacienne Regulaves Thermiques von Rohr (SART), for US$3.1 million. Halliburton sold its Dresser Equipment Group (DEG), comprising the Dresser Valve Division, Dresser DMD-Roots Division, Dresser Instrument Division, Dresser Wayne Division and Dresser Waukesha Division, to an investor group consisting of First Reserve Corp, Odyssey Investment Partners and members of the existing DEG management team. D EG became Dresser. Dresser acquired Entech Industries, a valve manufacturer with operations based in the UK, Italy, Netherlands and Germany, for approximately US$74.4 million. Metso Automation acquired Valvcon of Milford, New Hampshire, USA, a designer and supplier of compact electronically controlled electric actuators.

SPX acquired the Plenty Group from Smiths Group. Headquartered at Newbury, Berkshire, UK, Plenty manufactures filters, strainers, steam traps, mixers and pumps. Dresser acquired the assets of Elliott Valve, based in Houston, Texas, USA. Elliott Valve distributes, repairs and reconditions valves, actuators and related products and had been a long-time distributor of Dresser products.

Curtiss-Wright acquired the operating assets of Deltavalve USA, a Salt Lake City, Utah-based manufacturer of industrial valves used in high pressure, extreme temperature and corrosive plant environments for around US$6.5 million in cash, plus the assumption of certain liabilities. Precision Castparts acquired American Oilfield Products (AOP) located in Moore, Oklahoma, USA, for US$13.9 million. AOP manufactures floating and trunnion mounted ball valves, gate valves and wellhead components. Tyco International acquired Deutsche Armaturen, comprising Erhard Armaturen, Ludwig Frischut, Ernst Schmieding, Armaturen

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Schilling Puspas, Manibs Spezial Armaturen, Tillmann Armaturenand Indusha, from Bruder Mannesmann.

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Rotork acquired Jordan Controls, the electric actuator manufacturer based in Milwaukee, Wisconsin, USA, fbr an initial cash consideration of US$10.4 million. Circor International acquired the remaining 25% of Regeltechnik Kornwestheim that it did not own, for about US$2.5 million. ITT Industries acquired Precision Stainless, a leading manufacturer of process vessels for the biopharmaceutical industry, to complement its Pure-FIo valves and process systems business. Precision Castparts acquired CW Valve Services for US$0.9 million. Located in Houston, Texas, USA, CW Valve Services repairs and remanufactures General Valves' valves. IMI acquired the Italian company STI for s million. STI, which manufactures linear pneumatic actuators and accessories for severe service and develops accessories for actuators, has become part of IMI's CCI severe services business unit.

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Delta sold its valve businesses, Delta Fluid Products in St Helens, UK, and Donald Brown (Brownall) in Stretfbrd, UK, to its management team. # Flowserve completed its acquisition of Invensys's Flow Control Division (IFC) for US$535 million. In the year ending 31 March 2002, IFC had sales of approximately US$520 million. To help finance the acquisition of IFC, Flowserve issued 9.2 million shares of common stock, resulting in net proceeds of about US$277 million. The company financed the remainder of the purchase price through its senior credit facilities. 9 Koso America, the US subsidiary of Japanese control valve manufacturer Nihon Koso, purchased the Hammel Dahl product line of globe style control valves and associated actuators, fi'om Metso Automation. 9 Dresser acquired three small companies, Modern Supply, Ponca Fabricators and Quality Fabrication. These companies had provided distribution, repair and servicing of Dresser's small diameter ball valve, gate vah,e, check valve and actuation products in the USA. 9 SPX's Valves and Controls business acquired Daniel Valve from Emerson Electric for US$72 million. Based in Houston, Texas, USA, Daniel Valve manufactures speciality valves for crude oil and liquid

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petroleum product pipeline transmission, storage and distribution applications. Daniel Valve had annual revenues of US$46.7 million in the 12 months prior to the 6 May 2002 acquisition.

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The Velan Group's UK subsidiary, Velan Valves, acquired the business of Plenty Steam Products from General Signal. Plenty Steam Products manufactured a comprehensive range of steam traps, which had been originally designed by AK Velan (Velan had sold the product line to Plenty in 1987). 9 Crane acquired Corva, a privately held distributor of valves and actuators, with annual sales of about US$12 million. Corva will be integrated with Crane's North American valve company.

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Cooper Cameron acquired Nutron Industries, a privately held valve manufacturer in Edmonton, Canada, for approximately US$50 million in cash. Nutron had sales of around US$36 million in 2002. Circor International acquired US Para Plate, Auburn, California, USA, a manufacturer of high-pressure valves and regulators tbr aerospace and military applications and TOMCO Products, Painesville, Ohio, USA, a manufacturer of quick-couplers for general-purpose industrial applications. The German KSB Group acquired part of the business of former valve manufacturer P6rringer + Schindler (PSA) based in Zweibriicken, Germany. The acquisition covers PSA's production facility in L~inen, which manufactures gate and swing check valves. The s million management buy-out of the UK-listed FCX group (formerly Charles Baynes pie) was completed, with the support of Alchemy Partners. FCX is a specialist manufacturer (19% of sales) and distributor of flow control products, including valves, actuators, instrumentation, lined pipe and regulators. ITT Industries acquired the Biopharm Manufacturing Division of Martin Petersen, a leading manufacturer of process systems for the biopharmaceutical industry to complement its Pure-FIo valves and process systems business. Curtiss-Wright acquired Tapco International fbr US$10.5 million in cash and the assumption of certain liabilities. Tapco, based in Houston, Texas, USA, manufactures high-performance metal-seated gate, butterfly and flapper valves and actuators for harsh environ~ ments.

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IMI continued investing in its severe service business (CCI) by acquiring Califbrnia-based Fluid Kinetics tbr a cash consideration of US$8 million. Fluid Kinetics is a supplier of customised industrial silencers to the US market. Tomkins announced that it had sold Milliken Valve, based in Bethlehem, Massachusetts, USA, to Henry Pratt for a cash consideration of US$7.3 million. The Italian valve manufacturer Valvoindustria Ing Rizzio (VIR), based at Valduggia, acquired Red White Valve of Lake Forest, California, USA, which had been founded in 1971 as a joint venture between Mitsui and Toyo Valve. Mitsui retains a minority share in the company, which specializes in plumbing and commercial valve manufacture.

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The UK-based international energy services company John Wood Group acquired the assets of Barber Industries from Precision Castparts for US$10.7 million in cash. Barber, an established manufhcturer and supplier of wellhead equipment, valve safi:ty systems and rigsavers, will operate within the Pressure Control business of Wood Group's Well Support Division. 9 in June, Crane purchased certain pipe coupling and fittings businesses from Etex Group. These businesses provide pipe jointing and repair solutions to the water, gas and industrial markets worldwide. The businesses have been integrated into the company's UK subsidiary, Crane Ltd, a leading provider of pipe fittings, valves and related products to the building services industry. 9 IMI announced the formal internal transfer of Herion-Werke nuclear process and nuclear process control products from IMI Norgren to CCI Valve. 9 Danfoss acquired Desbordes, a subsidiary of the Orfite Group, based in Villeurbanne, France. Danfbss has kept Desbordes' manufacturing activities of pressure reducers, which have become part of the Water Controls Division, while the sanitary distribution activity (LMDI) have joined Sider, a subsidiary of the Bricodeal group. 9 Crane Canada acquired the NH Valves distribution business from Newman Hattersley Canada, to become part of Crane Vah'es North America. The Newman Hattersley Nuclear Valve manufacturing business was not included in the transaction.

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Oceaneering International, the Houston, Texas, USA-based advanced applied technology company providing engineered services and hardware to customers in marine, space and other harsh environments, acquired the Norwegian-based Rotator, a manufacturer of subsea control valves, topside control valves, subsea chemical injection valves and speciality control panels, with revenues of around US$16 million. The Danish Group AVK Holding acquired, through its subsidiary AVK Armaturen, the hydrant and valve assets of the German company Mittelmann Armaturen. Swagelok of Solon, Ohio, USA, acquired Kenmac, a privately-held manufacturer, based on the Isle of Man in the British Isles, of instrumentation valves and manifolds, pressure regulators, process interface valves and piping products. Dresser announced the completion of the sale of its LVF valve unit, located near Bergamo, Italy. The gross sale price was approximately US$24 million in cash plus the assumption of approximately US$5.5 million in debt. The UK-based BSS Group, a leading distributor of heating, plumbing and pipeline equipment to the industrial and domestic construction and maintenance markets, acquired Pegler & Louden and Pegler & Louden (Ireland) from FCX International Ltd. Pegler & Louden, distributors for Flowserve, ITT, Westlock and Crane in the UK and Ireland, are being operated as a free-standing business within the BSS Industrial Division.

Following the sale of its US operations (Red White Valve) in quarter one 2003, Toyo Valve's other operations in Japan and Thailand were acquired by Japan's market leader Kitz in December. Specialist UK-based flow control distributor, FCX International acquired the ~3 million French distributor SARMEF, located in Nantes, western France.

Conbraco Industries sold its RP&C forged steel valve division to Bonney Forge of Mt Union, Pennsylvania, USA. ABB announced an agreement to sell the upstream part of its Oil, Gas and Petrochemicals Division to a newly incorporated company formed by a private equity investors' consortium of Candover Profile of the International Valve Industry 25

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Partners, 3i and JP Morgan Partners. Included in the sale was the control valve (ex-ABB Kent Introl) business, with manufacturing in the UK and India. 9 Crane purchased the Hattersley valve brand and business together with certain related intellectual property goodwill and assets from Hattersley Newman Hcnder, a subsidiary of Tomkins. The business will be integrated into Crane's UK subsidiary, Crane Ltd. 9 A-Tec Industries, the Vienna-based international industrial group, which manufactures electric motors and machine tools as well as having plant engineering interests, acquired the Spanish industrial valve manufacturer Babcock Borsig Espana. 9 Rotork acquired the business and assets of Deanquip Valve Automation from Deanquip Sales of Melbourne, Australia for s 000. DVA is a well-established distributor of fluid power valve actuator products in the Australasian markct place.

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Circor International acquired Mallard Control fbr around US$14 million. Mallard, headquartered in Beaumont, Texas, USA, produces control valves, relief valves, pressure regulators and other related products. FCX International announced the acquisition of Flowserve France, the French C14 million sales distribution business of Flowserve. Flowserve France will be combined with the FCX Group's existing French distribution businesses, Compat Voglin and SARMEF. The enlarged group, renamed FCX France, has become the leading French specialist distributor of valves, instrumentation and related flow control products with premises in Paris, Lyons and Nantes. The FCX Group has also entered into exclusive distribution agreements with the relevant Flowscrve businesses tbr the sales of their products

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Curtiss-Wright acquired Groth Equipment of Louisiana, USA, for US$4.6 million. Groth, with sales in 2003 of around US$10 million, is a manufacturer's sales representative (including for C W F C - Farris Engineering) fbr rupture discs, conservation vents, fire and gas detectors and pressure relief valves. The company also provides field and in-shop service and repairs for pressure relief valves and a variety of speciality valves.

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STOP PRESS On 24 September 2004, Precision Castparts Corp (PCC) announced that it had decided to sell its pump and valve businesses. The company has agreed to sell the majority of its valve businesses to Cooper Cameron Corp in an US$80 million cash transaction. The valve businesses consist of the General Valve, Sterom, TBV, Techno, AOP and PCC Ball Valves product lines. PCC Eurovalve and the assets related to the Reiss, Baronshire, Vahaco and Technova product lines are not included in the sale to Cooper Cameron and will be held for sale in PCC's discontinued operations.

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International Valve Market

The market in new valves tends to be cyclical following the cycle of economic activity. For example, in the chemical processing industry, which is an important user of valves, there is a time lag of approximately 12-18 months between economic activity and investment. Other enduser industries for valves, such as mining, are in steady decline, while changes in technology in other sectors, such as the move from coal- and oil-fired power stations to gas turbine, have changed valve requirements. The market for replacement valves follows a different pattern to that for new valves with less emphasis on cyclical economic activity. This difference is an important element in the overall valve market, particularly in the developed world. For example, the North Sea, which traditionally provided a large market for new valves, is now providing a market for replacement valves which are smaller, less intrusive on the pipelines and require reduced servicing. Increased automation is an important criterion for valve selection, as end-users attempt to reduce staffing levels and down-time and improve product life and efficiency. Ironically these improvements in efficiency, performance and valve life will impact on the future market for replacement valves. Environmental issues, often driven by legislation are also important. As a result, the control of fugitive emissions and noise control have become important factors in the choice of valves and suppliers. The traditional large markets for industrial valves have been the water and wastewater treatment, oil and gas, power generation, paper and pulp, and, chemical processing industries. All of these industries have suffered in the world recession, with the lack of investment in these industries during recent years impacting on the valve industry. The situation has been further exacerbated by the almost frantic merger and globalization activity in many of the end-user industries.

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International Valve Market

The markets in the developed world are now relatively mature and will show little growth for new products during the next few years. Growth in the developed world will be concentrated on the replacement market, which represents over one-third of the total valve market. New sales growth is now concentrated in developing regions such as China, India and South America. The majority of investment in oil exploration and development will take place in the 'developing' countries in the Middle East, Africa, Central and South America, and, South and East Asia. Chemical processing will continue to move its manufacturing to the areas with large populations and growing living standards. These improved living standards will also lead to investment in infrastructure, for example the extension of piped water supplies and wastewater treatment services and power generation.

5.2.1 Western Europe For the purpose of this report, Western Europe is defined as comprising the European Union (EU) countries plus Norway; Switzerland and Turkey, with the latter having had an association agreement with the EU since 1963. Western Europe, which accounted for nearly 27% of the world's Gross Capital Formation (GCF) in 2002, is largely composed of well-developed countries, with relatively stable economies. Most of the world's countries with high gross domestic product (GDP) per head of population figures are in Western Europe (15 out of the top 20), and most countries depend quite heavily on exports to produce that GDP. By contrast, the countries of Central and Eastern Europe (including the countries in the Former Soviet Union (FSU) and Yugoslavia) are much poorer in GDP terms, with their total combined GDP being less than that of Italy. The Western European region has developed into a fairly well integrated market place, despite the present division into a euro area and the noneuro area, with a high level of trade within the region. Weak performance throughout the euro area in 2002 (GDP grew by only 0.9%), continued into 2003 and ahhough there was a pick-up in the second half, growth was only 0.5% tbr the whole year. The sharp pick-up in global trade has boosted exports, despite the stronger euro and there has been an improvement in investment levels. The International Monetary Fund (IMF) fbrecasts that GDP growth in the euro area at 1.7% in 2004, rising to 2.3% in 2005, while outside the euro area, the UK is expected to show a growth of between 3.0% and 3.5% in 2004, easing back to below 3.0% in 2005. 30

Profile of the International Valve Industry

5 InternationalValve Market

The enlargement of the EU on 1 May 2004, with membership extended to eight Central and Eastern European countries together with Malta and Cyprus, should ultimately make the region a stronger force in the market, although it will take some years for the new entrants to reach the standards of industrial development shown by most of the present members. 2007 should see Bulgaria and Romania becoming members and ultimately Turkey should become a full member. Another major driving force in Europe is the increasing impact of the EU directives upon national legislation, in subjects as diverse as water treatment and pressure system design. These impact on the equipment needed to achieve the requirements of the Directives. Table 5.1 Industrial Valve M a r k e t in Western Europe (US$ million) Valve Type Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts Total

5.2.1.1

2003

2004

1723 943 510 128 366 1014 618 1346

1772 970 525 131 377 1045 634 1386

6648

6840

2005 1831 1003 543 138 389 1082 654 1436 7076

2006 1893 1039 561 142 402 1120 676 1488 7320

2007 1956 1071 581 149 417 1160 697 1541 7572

2009 2075 1139 619 162 441 1253 739 1636 8064

Germany

After three years of stagnation, during which domestic demand declined by about 2%, the German economy fell into a shallow recession in the first two quarters of 2003 with the economy contracting by 0.2% and 0.1%, respectively. Exports, traditionally an important source of growth, declined during the first half of the year. However, in the second half of 2003, led by rising exports, growing domestic demand and increased investment activity, the economy recovered leading to only a 0.1% fall in GDP for the whole year. A gradual recovery should take place during the next two years, with growth forecast at between 1% and 1.5% in 2004 and around 2% in 2005. A number of factors continue to hold back a stronger recovery. Unemployment remains high and is expected to continue to rise until early 2005, and this will hold back private consumption. The government's efforts to control the budget deficit will reduce the impact of public spending, and the lack of investment during the last three years will hold back potential growth. Also many companies need to consolidate their balance sheets before embarking on capacity enlarging investment.

Profile of the International Valve Industry 31

5

International Valve Market

Germany has the biggest chemical industry in Europe, but its capital spending declined in every year from 1999 to 2002 (the latest year with available data) with 2004 presenting no clear signs of an upturn fbr the industry. Germany has the largest crude oil refiner}, capacity in Western Europe now marginally higher than Italy. Its 17 refineries have seen capacity continue to creep upwards ti'om 2.2 billion barrels per day in 1998 to 2.3 billion barrels per day in 2003. Germany is the EU's second largest consumer of natural gas after the UK, meeting most of its demand through imports. The country is a major destination point and transit centre tbr Europe's gas pipelines and has 6 major pipelines on land, three fi'om the North Sea, and several more in the construction and planning stages. The German government has announced its intention of shutting all of the country's 19 nuclear power stations, which could see most of the plants closed by 2020. RWE, Germany's largest power generator, forecasts that 40 GW of replacement capacity will be needed in the German power generation market by 2020, however, much of this will not come online until al~er 2010. The E.ON Group plans to invest ~13.8 billion throughout Europe in 2004-2006, with the focus on maintaining the group's power and gas networks as well as implementing environmental protection measures at power generation facilities. Although Germany's electricity market is very competitive, 80% of electricity generation is controlled by four companies- RWE (32%), E.ON (24%), VattenfSll Europe (14%) and EnBW (10%). Table 5.2 Industrial Valve M a r k e t in G e r m a n y ( U S $ million) Valve Type Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts

Total

32

Profile of the International Valve Industry

2003 604 276 144 34 122 353 147 239

1919

2004 617 282 147 35 125 362 149 244

1961

2005 635 290 151 36 128 373 153 252

2018

2006 653 298 155 37 132 384 158 259

2076

2007 671 306 159 38 136 395 163 266

2134

2009 706 321 168 41 142 423 170 280

2251

5

International Valve Market

5.2.1.2 United Kingdom The UK economy has outperformed the euro area economy during the past two to three years, with weakness in exports and investment more than offset by strong household consumption and general government spending. Growth in 2003 was 2.3% and the economy is expected to remain relatively robust in 2004, with GDP growing at between 3.0% and 3.5%, easing to below 3.0% in 2005. Oil production in the North Sea has been declining every year since its peak in 1999. It was down 8.9% in 2003, compared with 2002, at 22.45 million barrels per day. As the existing oil fields mature, there is an increasing focus on developing smaller fields that previously were not considered commercially viable, helped by the high price of oil. Major oil companies have been selling some of their mature fields in the North Sea to smaller, independent oil companies. In 2000 a joint government/ offshore oil and gas industry initiative- P I L O T - was launched. This has a strategy of sustaining capital investment at s billion per year and oil and gas production at 3 million barrels of oil equivalent per day beyond 2010, the latter now seen as 'becoming more challenging', with, it is reported, exploration at an all time low. There are now only nine major oil refineries in the UK with a capacity of around 1.785 million barrels per day, making the industry the fourth largest in Western Europe. UK natural gas production has also been declining since its peak in 2000. As production declines, the UK has been turning to foreign natural gas supplies to meet the increasing demand, via liquefied natural gas (LNG) and pipelines. In October 2003, Royal Dutch/Shell, Exxon Mobil and Norway's Statoil signed an agreement, which will see Norwegian natural gas brought to the UK through a 1200 km (750 mile) pipeline (Britpipe) from the Ormen Lange field, to the St Fergus gas terminal in Aberdeenshire. LNG terminals are planned for the Isle of Grain and Milford Haven. The UK chemicals sector has shrunk considerably by virtue of a change away from bulk production, which has shifted overseas, towards the provision of speciality chemicals. 2002 saw a 17% fall in capital investment in the industry, but pharmaceutical and biotechnology are both very strong. The water industry has suffered from a bout of change of ownership. However, Thames Water (now owned by RWE) has announced plans to replace more than 1000 miles of London's ageing water mains network during the 2005-2010 period. Thames Water has also announced plans

Profile of the International Valve Industry

33

5

International Valve Market

for London's first-ever desalination plant. Subject to planning permission, the s project is due to come on stream in 2007/2008. Since the privatization of the UK's electricity industry began in 1990, the industry has seen a considerable amount of restructuring, as companies have tried to become more profitable in a very competitive market. Nuclear power accounts for about 23% of the power generation market, however, this will decrease as the ageing Magnox reactors, owned by British Nuclear Fuels, are shut down and decommissioned- the last one by 2010. Food and beverage production f~atures strongly as a component of the UK's GDP, with dairy and brewing sectors being particularly strong. Table 5.3 Industrial Valve Market in United Kingdom (US$ million) Valve Type

2003

2004

2005

2006

2007

2009

201

208

215

223

231

245

Parts

65 27 65 183 113 227

68 28 68 189 116 234

70 30 70 196 120 243

73 31 73 203 124 252

76 32 76 211 128 260

81 34 80 228 136 276

Total

985

1019

1056

1095

1134

1208

Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control

Others

104

108

112

116

120

128

5.2.1.3 France Geographically the largest country in Western Europe, France has a much smaller engineering industry and a smaller GDP than Germany. Paradoxically, in recent years, it has fared better than its neighbour in economic terms. Industrial performance had been quite good up to 2001, but there was a slowdown in real GDP growth in 2002 as most euro areas weakened, resulting in only 1.2% growth for the year. The slowdown in growth continued into the first half of 2003, with the war in Iraq, strikes, and pension refbrms being major contributing factors. Although growth returned in the second half of 2003, GDP growth for the year was only 0.5%. Growth is now picking up, helped by an acceleration of exports and rising investment, with growth fbr 2004 forecast at around 2%, rising to around 2.5% in 2005. Although the French chemical industry is larger in turnover terms than that of the UK, its investment has lagged behind, with C17.5 billion invested during the five-year period 1998-2002, compared with C21.1 billion in the UK. As in most other European countries, investment has

34

Profile of the International Valve Industry

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International Valve Market

been declining since 2000. Bulk chemicals are not the power that they once were, but the pharmaceutical sector has grown rapidly. France has got Western Europe's third largest oil refining capacity at 1.97 million barrels per day. The French company Total is Western Europe's largest refiner, with around 2.3 million barrels per day capacity, of which about 45% is in France. France is a major importer of both oil and natural gas, and has a number of natural gas pipelines into the country, as well as LNG import terminals. France is the world's largest nuclear power generator on a per capita basis, with around 79% of its electricity coming from nuclear power. The country has 59 nuclear power reactors, the second largest number in the world after the USA. Despite public opposition, the government still favours nuclear power and may commission new plants in the future to replace its ageing stock. France has a powerful agriculture industry, and hence a strong food and beverage sector, with a world-leading position in wine making and spirits production. France's water industry is dominated by two companies - Ondeo (exSuez Lyonnaise des Eaux) and Veolia Environment (ex-CGE/Vivendi), who have also become two of the largest water companies in the world. Table 5.4 Industrial Valve Market in France (US$ million) Valve Type Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts

Total

2003

2004

2005

2006

2007

2009

224 147 89 16 41 111 68 186

231 152 92 17 42 115 70 192

240 158 96 17 44 120 73 200

248 163 99 18 45 124 76 207

257 169 103 19 47 129 78 215

274 181 110 20 50 140 84 228

882

911

948

980

1017

1087

5.2.1.4 Italy Italy has consistently been the poorest performer of the eleven countries in the euro area. There are considerable structural problems in the economy to be overcome, including the economic divergence between the north and south of the country. GDP growth, which was 1.7% in 2001 and 0.4% in 2002, remained flat at 0.4% in 2003. However, stronger growth is expected from mid-2004 and into 2005 as world

Profile of the International Valve Industry

35

5

International Valve Market

demand accelerates and uncertainties, hopefully, due to domestic corporate governance problems, recede. The Organisation for Economic Co-operation and Development (OECD) fbrecasts put GDP growth in 2004 at 0.9% rising to 1.9% in 2005. The manuthcturing industries in Italy have had a record of doing rather well, although 2002 and 2003 saw a fall in investment in machinery and equipment. This fall is expected to continue in 2004, but there will be a strong recovery in 2005. With Italy's crude oil refining capacity remaining static tbr the last few years, the country was overtaken by Germany in 2003 as the largest refining capacity in Western Europe. The country has 17 major refineries, five operated by the state-controlled Eni, along the Mediterranean coast and on Mediterranean islands. Imports account for 80% of Italy's natural gas, with most coming through pipelines from Algeria and Norway. LNG imports are expected to grow substantially with new terminals proposed fbr Brindisi, Rosignano, Port of Livorno (offshore) and in the North Adriatic. While Italy's chemical industry is smaller than France in terms of sales, its investment has been on a par with France during the 2000-2002 period. Italy experienced two major power failures during 2003, due it is believed to under-investment in the power industry, resulting in less than sufficient reserve generation capacity. While there is a need to increase capacity, bureaucracy is an inhibiting factor. Table 5.5 Industrial V a l v e M a r k e t in Italy ( U S $ million) Valve Type Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts Total

2003

2004

2005

2006

2007

2009

177 110 48 12 32 70 60 156

180 112 49 12 33 71 61 158

185 115 50 13 34 73 62 162

190 119 52 13 35 76 63 167

196 122 53 14 36 79 65 172

207 129 56 15 38 84 69 181

665

676

694

715

737

779

5.2.1.5 S p a i n

Spain has the fifth largest GDP in Western Europe, and has certainly fared better than Germany, France and Italy in the euro area during the past few years. Gross fixed capital formation, which grew by 3.0% in 2003, is expected to grow strongly by 4.0% in 2004 and 5.0% in 2005, as

36

Profile of the International Valve Industry

5

International Valve Market

a result of improved business prospects. This growth in investment combined with export growth will lead Spain to outperform the euro area as a whole throughout the period to 2005. Investment in the Spanish chemical industry grew by 35% in both 2001 and 2002. Repsol YPF continues to invest in its petrochemical operations and a new 120 000 tonnes per year ethylene cracker is due to start operations in 2005. Spain is Europe's largest importer of LNG and the country continues to increase its LNG terminal capacity. There are large agricultural, food and beverage sectors, with wine making increasingly important. The engineering sectors are small, and water treatment is fragmented. To meet Spain's increasing demand for electricity, which is forecast to grow by 3% to 3.5% per annum during the present decade, power companies are investing heavily in new capacity, with Iberdrola, Endesa, ESB International, Hidrocantfibrico, Union Fenosa, Repsol YPF and Gas Natural all making major investments.

Table 5.6 Industrial Valve Market in Spain (US$ million) Valve Type Gate, Globe, Check Bail, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts Total

2003 96 54 27 5 17 46 37 100

382

2004 100 56 28 5 17 48 39 104

397

2005 105 59 29 5 18 50 40 109

415

2006 110 62 30 6 19 53 41 113

434

2007 114 64 32 6 20 55 42 120

453

2009 123 69 35 7 22 61 44 129

490

5.2.1.6 Benelux Countries Although the Netherlands has a stronger economy, in terms of GDP, than Belgium, it is the latter that has shown stronger, albeit small, growth during recent years and is forecast to continue to do so, with growth in Belgium slightly above the euro area average and Netherlands below. The Netherlands has a strong manufacturing industry, especially in chemicals, engineering and food. Investment in the chemical industry has held up well during the 2000-2002 difficult period. Although Luxembourg has the highest GDP per head of any country in Europe, it is of little significance to the valve market. Dutch oil production from the North Sea is of little consequence now, while gas production, including on-shore fields, picked up in 2001 after

Profile of the International Valve Industry 37

5

International Valve Market

t2alling steadily from the peak of 1996. However, production declined again in both 2002 and 2003. Mthough Belgium's chemical industry, in terms of turnover, is in fact bigger than that of the Netherlands, its capital expenditure has been lower each year since 1997, and fell sharply by 17% in 2002. Table 5.7 Industrial Valve Market in Benelux Countries (US$ million) Valve Type

2003

Gate, Globe, Check Ball, Plug Butterfly Diaphragm

2005

2006

2007

2009

106 76 48 14 33 81 49 135

109 78 49 14 34 83 50 139

112 80 51 15 35 86 51 143

115 83 52 15 36 89 53 148

119 85 54 16 37 92 54 152

125 90 57 18 39 98 57 161

542

556

573

591

609

645

Pressure Reducing Valves

Automatic Control Others Parts

Total

2004

5.2.1.7 Nordic Countries The five Nordic countries comprise four countries of high levels of development, both industrially and socially, Denmark, Finland, Norway and Sweden, plus the very much smaller Iceland (which only contributes about 1% to the region's total GDP). Geographically these countries are on the northern fringe of Western Europe, but are not all that well integrated into i t - Norway and Iceland are not members of the EU, while Denmark and Sweden are not in the euro area. Only Finland- because the E U provides welcome alternatives to its erstwhile dependence on Russia- seems fully enthusiastic about membership. Finland has shown the strongest economic growth during the last four years, while expected growth in 2004 varies from 1.8% in Denmark, 2.5% in Norway and Sweden, up to 2.9% in Finland. Table 5.8 Annual GDP Growth in Nordic Countries (%) Country

2000

2001

2002

2003

Finland Sweden Denmark Norway

5.1 4.4 2.9 1.9

1.2 1.1 1.4 1.7

2.3 2.1 1.0 1.0

1.9 1.6 0.2 0.2

The Nordic countries, notably Finland and Sweden, have a strong paper industry, with the whole region accounting for around 30% of the Western European paper and board capacity.

38

Profile of the International Valve Industry

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International Valve Market

The region is also strong in food and beverage production and each country has a small chemicals industry, with the combined outputs from all countries similar to the output of the Dutch chemicals industry. The region has a modest number of oil refineries, comparable to the UK, albeit with smaller capacities. The Norwegian valve market is heavily dependent on the oil and gas industry in the North Sea. The country's proved oil and gas reserves at the end of 2003 were more than twice that of the UK. Oil production peaked in 2001 at more than 3.4 million barrels per day and has now declined to 3.26 million barrels per day in 2003. However, natural gas production continues to rise, with a 12% increase in 2003. Norway's petrochemical manufacturer, the Borealis Group, has announced plans to expand its Noretyl ethylene cracker, a 50:50 joint venture with Hydro Polymers, and to debottleneck its own polypropylene plant at R~nningen. The two projects are scheduled to be completed by the autumn of 2005. Denmark has a relatively small involvement in the North Sea industry, producing 368 000 barrels of oil per day in 2003 and 7.9 billion m 3 of natural gas. Table 5.9 Industrial Valve Market in Nordic Countries (US$ million) Valve Type Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts Total

2003 115 65 34 8 20 65 62 85 454

2004 118 66 35 8 20 67 63 87 464

2005 121 68 36 9 21 69 65 89 478

2006 125 71 37 9 21 71 67 92 493

2007

2009

129 73 38 10 22 73 69 94 508

136 77 40 11 23 79 73 99 538

5.2.1.8 Rest of Western Europe The remaining countries of Western Europe are a very disparate group and include Austria, Cyprus, Greece, Ireland, Malta, Portugal, Switzerland and Turkey. These countries, collectively, account for around 11.3% of West Europe's GDP, with Switzerland, Austria and Turkey totalling 63% of the group's GDP. The two Alpine countries of Austria and Switzerland are alike in many ways, but differ markedly in their views on European union. Austria is a member of the EU, but Switzerland is a steadfast non-joiner.

Profile of the International Valve Industry

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5

International Valve Market

Austria is a strong and well-established member of the euro area, and is affected by the performance of German); its main trading partner. GDP growth in 2003 was 0.7% (better than Germany). Exports are expected to rebound as the international upswing gains momentum, resulting in GDP growth in 2004 of 1.5%, increasing to 2.4% in 2005. The Swiss economy has been hit hard by the global downturn and the sharp appreciation of the franc, resuhing in a 0.5% decline in GDP in 2003. Exports are a key factor in driving the Swiss economy and the present upturn in international trade should see GDP growth in 2004 of 1.8%, increasing to 2.3% in 2005. Investment, which was down in the past three years, is also expected to pick up in 2004 and 2005. The engineering industries are strong in the two countries and Switzerland has a significant presence in chemicals, particularly pharmaceuticals. Turkey forms a link between two continents- Europe and Asia. The country is firmly set on joining the EU, but the problems of a divided Cyprus are impeding progress. Since the mid 1980s, Turkey's economy has moved strongly away from the state principles on which the Republic was founded, allowing Turkey's dynamic private sector to become the engine of economic development. The country's economic turnaround continues to rely on market forces, export-led development, integration with the world economy, and privatization. Average annual growth rates during the past ten years, with the exception of 1999 and 2001, have been the highest of any OECD country. The decline in 1999 was due to the effects of Russian devaluation and the Asian markets crisis, the economy stalling in the run-up to elections, and the earthquakes in August. The government introduced a n u m b e r of

structural reforms in 1999, paving the way for a US$4 billion three-year stand-by agreement with the IMF, which came into effect on 1 January 2000. However, in the second half of 2000, delays in the implementation of the retbrms damaged the credibility of the IMF programme leading to a financial crisis in late November 2000 and again in February 2001, forcing a sharp devaluation of its currency. Inflation and unemployment soared and, combined with the effects o f 9 / 1 1 , GDP fell sharply in 2001 by 7.5%. The economy has now recovered and Turkey saw robust growth of 5.8% in 2003 and this should continue above 5% in 2004 and 2005, driven by exports and improved consumer and business confidence. Turkey has an oil refining capacity from its seven refineries of just under half the size of that of the UK. Four of these refineries are operated by

40

Profile of the International Valve Industry

5

International Valve Market

the partly state owned company Tupras, which is currently planning a fifth refinery near Yarimca, to be completed by 2007. There is a good deal of pipeline activity in Turkey, with the 1097 mile Baku-Tblisi-Ceyhan (BTC) oil pipeline from Azerbaijan to Turkey now under construction and due for completion in 2005. A number of options are under consideration for transporting oil from the Eastern European oil fields to Turkey and Greece.

Table 5.10 Industrial Valve Market in Rest of Western Europe (US$ million) Valve Type

2003

2004

Parts

200 111 55 12 36 105 82 218

209 116 57 12 38 110 86 228

218 121 60 13 39 115 90 238

228 127 63 13 41 120 94 250

239 132 66 14 43 126 98 262

259 144 72 16 47 140 105 283

Total

819

856

894

936

980

1066

Gate, Globe, Check

Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control

Others

2005

2006 ,2007

2009.

5.2.2 Central and Eastern Europe This region includes three groups of countries" 9

9

9

Commonwealth of Independent States (CIS). Following the breakup of the USSR in December 1991, the CIS was formed. At the same time the Russian Supreme Soviet changed the name of the Russian Soviet Federation Socialist Republic to the Russian Federation. The CIS now comprises twelve countries" Azerbaijan Republic, Republic of Armenia, Republic of Belarus, Georgia, Republic of Kazakhstan, Kyrgyz Republic, Republic of Moldova, Russian Federation, Republic of Tajikistan, Republic of Turkmenistan, Republic of Uzbekistan and Ukraine. EU Accession countries. On 1 May 2004, eight Eastern European countries joined the European Union: Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovak Republic and Slovenia. The rest, comprising the republics deriving from the former Yugoslavia, together with Albania, Bulgaria and Romania.

The GCF for the whole region in 2002 amounted to 3.2% of the world total and was about one eighth of the size of Western Europe (including Turkey). The CIS states accounted for 46% of the region's GCF in 2002, with the EU Accession countries accounting for a further 42%.

Profile of the International Valve Industry

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International Valve Market

5.2.2.1 Russia The Russian Federation dominates the CIS, accounting fbr 74% of the GCF in 2002. In 2003, Russia's real GDP grew by 7.3%, the country's fifth consecutive year of economic expansion since the 1998 crisis. Russia's economic growth has been fuelled largely by its energy sectorthe country is the world's largest exporter of natural gas and the second largest oil exporter. GDP growth is expected to slow to between 5.5% and 6.0% in 2004, with growth in 2005 expected to be between 5.0% and 5.5%. There is some uncertainty, however, among investors about the relationship between the state and big business. The oil and gas sector is expected to remain the leading sector both in size and market and potential growth, not simply because of continuing high oil prices but also because of new sources of financing, advancing Western investment projects and evoh, ing pipeline projects. However, with Yukos facing bankruptcy, there is considerable uncertainty in the industry. In 2003, Tyumen Oil Company (TNK) and BP merged, and this company, TNK-BP, along with Yukos, LUKoil, Surgutneftegaz Tyumen Oil and Sibnef~, dominate the oil industry. Together, they account for 70% of the country's oil production. Russia's installed power generation capacity (215 GW in 2001) is the fourth largest in the world. The sector is dominated by RAO UES, which was created in 1992 as a joint-stock corporation and with the federal government as its major shareholder. Russia's power sector includes more than 440 thermal and hydroelectric power plants plus 30 nuclear power plants, while a further three nuclear power plants are under construction. Electricity consumption declined rapidly following the collapse of the Soviet Union and only started to recover in 1999. Existing capacity is likely to be able to meet any further growth in demand to 2010. However, there is likely to be upgrading and repair of a number of existing ageing facilities.

42

Profile of the International Valve Industry

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International Valve Market

Table 5.11 Industrial Valve Market in Russia (US$ million) Valve Type Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts Total

2003

2004

153 79 26 3 23 45 78 163 570

2005

162 84 27 3 24 48 82 173 .

603

2006

171 88 28 3 25 51 86 182 .

634 .

2007

179 93 30 4 26 54 91 192 .

669 .

2009

189 98 31 4 28 57 96 204 .

707

.

209 108 34 5 31 64 106. 224 781

5.2.2.2 Rest of Central and Eastern Europe The countries of Eastern Europe, excluding Russia, recovered from the trauma of the break-up of the Soviet bloc in the mid 1990s. In recent years, the three Baltic states- Estonia, Latvia and Lithuania have shown the strongest growth, with real GDP growing by 6.4% in 2002 and 7.4% in 2003. However, these countries only accounted for 8% of the eight EU accession countries' total GCF in 2002. The largest of the EU accession countries is Poland, followed by the Czech Republic and Hungary. After low growth of 1.4% in 2002, Poland had an exportled recovery in 2003, with a GDP growth of 3.7%. The IMF fbrecast stronger growth in 2004 at 4.7%, slowing to 4.0% in 2005. Growth in the Czech Republic has been more steady, with 2.0% recorded in 2002 and 2.9% in 2003. Continued growth of 3.0% in 2004 and 3.4% in 2005 is forecast. In Hungary, the economy slowed in 2003, despite strong consumption growth, to 2.9%. An increase to 3.2% in 2004 and 3.4% in 2005 is forecast. Foreign direct investment will play an important role in the development of the accession states. According to the European Bank for Reconstruction and Development, foreign direct investment dipped to US$8 billion in 2003 from more than US$20 billion in 2002. Investment, however, is expected to recover to US$15 billion in 2004 and then maintain that level for some time. In general, the accession states will see investments in various sectors to improve safi:ty and environmental performance to meet EU requirements. While the Czech Republic, Slovak Republic and Slovenia have seen an increase in investment in their chemical industries during the 2000-2002

Profile of the International Valve Industry

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5

International Valve Market

period, investment in Hungary has been fairly static. Poland, meanwhile, has seen a significant decline. Apart from Russia, the only other significant oil producer in the region is Kazakhstan, albeit producing less than an eighth of Russia's o u t p u t even smaller producers are Azerbaijan, Romania, Turkmenistan and Uzbekistan. Kazakhstan has the Caspian Sea region's largest recoverable crude oil reserves. Production has been steadily increasing since 1994 to around 1 million barrels per day in 2003, with the government expecting to increase this to 2.4 million barrels per day by 2010. Eastern Europe as a whole is restructuring and liberalizing its electricity markets to meet EU requirements. There is a great need to modernize existing plants and make them more efficient. There is likely to be a move from coal to natural gas-fired generating plants t o improve pollution conditions and, in some cases, a dismantling of nuclear power plants that the EU considers unsafi:. Table 5.12 Industrial Valve Market in Rest of Central and Eastern Europe (US$ million) Valve Type

Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts Total

2003

114 59 20 2 17 33 58 120 423

2004

120 62 21 2 18 35 61 126 445

2005

125 65 22 2 19 37 64 132 466

2006

131 68 23 3 20 39 67 139 490

2007

2009

140 71 24 3 21 41 70 146

151 80 26 3 23 46 77 161

516

567

5.2.3 M i d d l e East

(Note" Because of its political ties with Europe, Turkey is counted as part of Western Europe. Egypt is also counted as part of Africa). In the Middle East, real GDP growth strengthened in 2003, reflecting higher oil production a n d - in the second half of tile y e a r - the rcduction in uncertainties following the Iraq war. This growth of 5.4% is expected by the IMF to ease back to 4.1% in 2004. However, the unsettled security situation, particularly in Iraq and Saudi Arabia, and the escalating oil price makes the future in the whole region uncertain. The major valve application in the Middle East is in the oil and petrochemical industries, the region produces nearly 30% of the world's oil, with an increasing requirement for water treatment such as desalination plants. Most of the valve sales to the region are made

44

Profile of the International Valve Industry

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International Valve Market

through large plant contractors and oil companies. The production of natural gas is increasing to meet demands for f~edstock in downstream activities in the refining sector and a number of plans for long distance natural gas export lines are under investigation, as well as new oil pipelines. With the expected population increase and the growing economies of the region, a rapid growth in demand for electricity is also expected. Saudi Arabia, the region's most important country, holds one-quarter of the world's proven oil reserves and has the world's fourth largest gas reserves. These sectors will continue to dominate the country's economy, and, through the Supreme Petroleum Council (SPC), the government is trying to accelerate private sector and foreign involvement. The country has ambitious plans to expand petrochemical production using natural gas as a feedstock. Saudi Basic Industries Corp (Sabic) has recently announced a number of expansion developments totalling US$6.4 billion" 9

9 9

9

9

A new petrochemical plant in Yanbu for 3.8 million tonnes per year of ethylene, ethylene glycol, polyethylene and polypropylene products; Expansion at Eastern Petrochemical to add 2.9 million tonnes per year of ethylene, polyethylene and ethylene glycol by 2008; An additional 1.7 million tonnes per year of methanol at Saudi Methanol (AR-RAZI) scheduled for production in the latter half of 2007. This will make AR-RAZI (a 50"50 joint venture with Mitsubishi), the largest single methanol-producing complex in the world; An additional 1 million tonnes per year of flat steel products at the Saudi Iron & Steel (HADEED), with production scheduled for 2006; The world's first a-sabline linear alpha olefins plant to be constructed at Jubail Industrial City by Linde.

Electricity demand is growing by more than 4.5% per annum in Saudi Arabia. At the end of 2003, the Saudi Electricity Company put out three 2 GW power projects and in early 2004 the Saudi state-owned oil company, Saudi Aramco, signed an agreement with the UK-based International Power to build more than 1 GW of natural gas fired cogeneration capacity, comprising four plants in the eastern part of the country. Iran, the second largest oil producer in the region, announced the discovery of its largest oil find in 30 years in September 1999, with this requiring significant investment in the coming years. Iran's National Petrochemical (NPC) has embarked on a major 5-year e• programme to develop the country's petrochemical sector.

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Iran has the world's second largest proven natural gas reserves, after Russia. The government, along with private investors, are currently working to build LNG facilities in Iran to supply both the domestic market and export market. With the demand for electricity growing rapidly, Iran is building significant new thermal and hydroelectric capacity, with the target of adding 30 GW of capacity within 10 years. The post-war unrest has delayed the expected massive rebuilding of infrastructure in I raq. The Dolphin gas project, which was launched in the spring of 1999, is one of the largest energy-related programmes undertaken anywhere in the world. As well as the construction of a new gas pipeline linking Qatar with United Arab Emirates (UAE) and Oman, the project is expected to see the construction of gas and liquid processing facilities with other downstream activities relating to the development of new and existing industrial plants in the UAE, Qatar and elsewhere in the region. Table 5.13 Industrial Valve Market in Middle East (US$ million) Valve Type

Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts Total

2003

2004

2005

2006

2007

2009

159 76 28 8 27 49 54 116

165 79 29 8 28 51 56 122

173 83 31 8 30 54 59 127

182 87 32 9 31 57 62 136

192 92 35 9 33 60 65 141

211 101 39 9 36 67 71 156

517

538

565

596

627

690

5.2.4 Africa

The African continent produces more than 10% of the world's oil, thus providing good opportunities for valve suppliers. Production of oil is fairly evenly split between North Africa and the sub-Sahara region. Nigeria is the largest oil producer in Africa (25% of the region's output), with other sub-Saharan producers including Angola, Gabon and Republic of Congo. In North Africa, Algeria is the largest producer (21% of tile region's output), followed by Libya (17%) and Egypt (10%). Africa only accounts fbr a little more than 5% of the world's production of natural gas, with Algeria, Egypt, Nigeria and Libya being the main producers. While oil production in Egypt has been in steady decline since 1995, natural gas production continues to expand - production has more

46

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International Valve Market

than doubled between 1999 and 2003. Further expansion is planned, with much of the increased volume being exported as LNG. In North Africa, there are strong chemical industries in Algeria, Egypt, Libya, Morocco and Tunisia. Fluor started work on a contract to build a new benzene facility at Alexandria, Egypt in February 2004 for Egyptian Linear Alkyl Benzene (E-LAB). The project is part of a 20-year 'petrochemical master plan' for Egypt. In the West African region, Nigeria is the main producer and user of chemicals, while in the south, South Africa is the prime market and producer. South Africa is home to Sasoi, one of the world's top 20 chemical companies. For much of Africa, connecting populations to electric power supplies remains a primary goal. However, with poor economies in many countries in the region, attracting investment has been difficult. There is a move among some countries to privatise their electric utilities to attract investment in the power system infrastructure. South Africa is the largest African electric power generator, with more than 40% of the region's total installed generating capacity in 2001. With enough spare capacity to satisfy domestic demand until at least 2007, South Africa has become a major exporter of electric power to neighbouring countries. The state-owned Eskom generates nearly all of the country's electric power, with most generated by coal-fired power plants. As part of its privatization plans, a 30% share of Eskom is scheduled to be ofli:red to investors by 2006. Egypt has the second largest installed electricity capacity in Africa and plans to add substantial capacity through privately-owned power plants financed under Build, Own, Operate and Transfer (BOOT) financing schemes. In Nigeria, the government has begun the process of restructuring its state-owned electric power company, the National Electric Power Authority (NEPA), by splitting the utility into 18 separate companies, which are scheduled to be privatized. This is due for completion by 2005.

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Tabl e 5.14 Industrial Valve Market in Africa (US$ million) Valve Type Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts Total

2003

2004

2005

2006

2007

2009

86 43 22 6 22 32 54 79

89 45 23 6 24 33 56 82

94 47 24 6 25 35 59 86

98 49 25 7 26 37 62 91

102 51 26 7 27 39 65 95

111 56 29 7 29 43 70 103

344

358

376

395

412

448

5.2.5 Asia and Far East The region accounted for 29.4% of the world's GCF in 2002, although just four countries- Japan, China, South Korea and I n d i a - accounted for 90% of the total.

5.2.5.1 Japan Japan has the second largest economy in the world and after two depressed years in 2001 and 2002, the economy resumed modcst growth in 2003 with a 2.7% increase in GDP, helped by strong exports growth. However, a s part of prime-minister Junichiro Koizumi's economic reforms, spending on public works projects, which had been funded as part of previous attempts to stimulate the economy, has been scaled back significantly, with GCF declining by 10% in 2002. The pick-up in world trade and steady increase in domestic demand, buoyed by some improvement ill the labour market, are expected to help sustain GDP growth near 3% through 2005. However, the outlook is clouded by entrcnched deflation and by persistent weaknesses in corporate, financial and public sector balance sheets. Other risks include the impact of a sustained appreciation of the yen and the possibility that rising public debt could trigger sharply higher real interest rates. Japan has the world's second largest chemical industry, albeit less than half the size of the USA's. However, investment in the industry was sharply down in 2002 by nearly 18%. The situation is thought to have improved in 2003, when production of many chemicals perked up. Although Japan contains almost no oil reserves of its own, it is the world's third largest oil consumer, alter the USA and China. Consequently it has a large refining industr); although with 33 refineries it is suffering from overcapacity. Japan's refining industry has gone through a good deal of consolidation since 1999 and is now dominated by Nippon Mitsubishi Oil.

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Electrical generating capacity amounted to 262 GW in 2001. About 75% of the country's electricity is produced by ten private-sector companies. Investment by these companies in generating capacity has steadily declined from u billion in 1997 to u billion (US$4.2 billion) in 2002 reflecting the almost static demand for electricity during that period. Japan's electricity demand is expected to rise in future years, with the Federation of Electric Power Companies of Japan, which comprises the ten major electricity companies, forecasting that 35 GW of new power generation capacity will be needed in the next ten years. About one-third of electricity in Japan comes from nuclear power, with 54 nuclear power plants in operation and a further two under construction. In spite of the recent problems- there was a scandal in 2002, when it was disclosed that Tokyo Electric Power had falsified inspection documents for 13 of its nuclear reactors - Japan plans to build a further 13 nuclear power plants, with a combined capacity of 13 GW, by 2010. Table 5.15 Industrial Valve M a r k e t in Japan (US$ million) Valve Type Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts Total

5.2.5.2

2003

2004

2005

2006

2007

2009

409 272 120 32 78 243 145 315

418 278 122 33 80 250 148 321

422 281 123 34 81 254 150 323

429 286 125 35 82 262 152 327

439 293 128 36 84 270 155 336

456 305 133 38 87 284 160 348

1614

1650

1668

1698

1741

1811

China

Based on a share of world GDP in 2002, China is already the sixth largest economy in the world. By 2010 it is forecast that it will have overtaken France and the UK, and, by 2015, also Germany, by which time it will have become the third largest economy in the world China's accession to the World Trade Organisation (WTO), on 11 December 2001, heralded a new era. It symbolized China's ongoing integration into the world economy, a transition from central planning to market-based regulatory principles and significant opportunities for exporters. China's WTO membership is changing the way business is conducted in the country, although the transition is gradual and not without problems.

Profile of the International Valve Industry 49

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International Valve Market

China's economy grew faster than expected in 2003, with GDP rising at 9.1% in real terms according to official figures. The outbrcak of the Severe Acute Respiratory Syndrome (SARS) virus had less than expected negative economic effects, particularly on service industries. While strong fixed investment- China's GCF in 2002 was third highest in the w o r l d - has helped to underpin real GDP growth, there are growing concerns about over-investment in several sectors, where output is booming and input prices have increased sharply. To mitigate the risks of overheating and the build-up of sectoral imbalances, additional tightening of policies is needed in the period ahead to slow GDP growth to a more sustainable rate. The IMF is forecasting GDP growth at 8.5% in 2004 and 8.0% in 2005. Industry continues to dominate the Chinese economy, contributing about 45% to total GDP. Although demand for consumer goods remains relatively weak, government-backed spending on basic infrastructure, technical upgrades to leading enterprises, and real estate development has led to substantial growth in the output of steel - China now produces some 22% of the world's total output. Foreign direct investment was expected to reach US$55 billion in 2003, becoming the world's top investment destination for overseas investors for the second consecutive year. Despite moves toward privatization, much of China's economy remains controlled by large State Owned Enterprises (SOEs), many of which are inefficient and unprofitable. Restructuring of the SOE sector, including the privatization of some enterprises, is a major priority of the government, as is the restructuring of the banking sector. One sector that has seen privatization is the oil and gas industry, with Sinopec, CNPC and C N O O C all successfully having initial public offerings (IPOs) of stock between 2000 and 2002. China was the world's second largest consumer of petroleum products in 2003 and the fifth largest oil producer. With oil production located in the North East of the country, the government is planning the infrastructure to transport oil and gas, to consumers in the west and south of the country. Downstream infrastructure development is fbcused primarily on upgrading existing refineries (nearly 100 in number), rather than building new ones, due to ovcrcapacity. Although not a large natural gas producer or consumer, China has embarked on a major expansion of its gas infrastructure, with consumption expected to more than double by 2010.

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International Valve Market

China has established itself as the fourth largest chemicals producer in the world. Within this sector, China is now the fastest growing petrochemical producer as downstream manufacturing industries have moved from other countries, including those in Asia, into China due to its low labour costs. Eight new ethylene are planned to come on stream during 2004-2006. China is expected to attract 29% of world petrochemical investments during the period 2002 to 2012, and currently has around 15 000 plants, both state-owned and private. China's pharmaceutical industry is growing fast, with production increasing by 17% per annum during the 9th Five-Year Plan (from 1996 to 2000). There are in excess of 5100 pharmaceutical companies, including more than 1700 foreign companies and joint ventures as well as around 1100 state owned companies. Under the 10th Five-Year Plan (2000 to 2005), pharmaceutical production is expected to increase at the rate of 12% per annum. China is the world's largest food producer, and food production is China's largest industry. However, less than 10% of the food passes through a food processing plant, so this industry has huge potential for expansion. It is reported that the growth rate tbr the food processing industry is around 13% per annum. Many of China's 4000 paper and board mills are small and operate inefficient equipment compared with foreign competitors. As a result, many will be forced to close, while the remainder will have to invest to update their facilities. As reported in section 6.2, China's water problems are a major threat to its economic growth and the Chinese government is trying to encourage foreign enterprises to participate in the construction and operation of municipal water resources projects. To increase its water supply capacity, it is reported that between 600 and 800 new water treatment plants will be required by 2010. The Chinese electric power industry, which is only in the early stages of being restructured, is now the world's second largest after the USA, with an installed capacity in 2000 of 322 GW. The government has been closing down small inefficient thermal power plants and building bigger new ones. In the first half of 2003, the Chinese government approved 30 major new electric power projects, with around 22 GW capacity, to keep pace with increased demand. The largest project under construction is the Three Gorges Dam, which, when fully completed in 2009, will include 26 separate 700 MW hydroelectric generators.

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At the end of January 2004, China had eight nuclear power plants in operation, with a further three under construction. It has been reported that the government will invite international tenders before the end of 2004 tbr tbur new nuclear power reactors. China is the third-largest construction market, after the USA and Japan, but will be one of the fastest growing at 8.2% per annum during the 2002-2007 period. Table 5.16 Industrial Valve Market in China (US$ million) Valve Type Gate, Globe, Check Ball, Plug Butterfly

Diaphragm

Pressure Reducing Valves

Automatic Control Others Parts

Total

2003

2004

2005

2006

2007

2009

305 135 56 17 49 91 175 192

331 146 61 18 53 99 190 209

357 158 66 20 57 107 205 225

385 170 71 22 61 116 221 245

414 183 76 24 65 125 238 264

478 211 88 28 74 146 275 305

1020

1107

1195

1291

1389

1605

5.2.5.3 South Korea Despite a global economic slowdown, South Korea's economy 6.9% in 2002. However, the economy slipped into recession in half of 2003, due to a tightening of consumer credit, which domestic demand. A resumption of growth in the second half GDP growth for the full year of 3.1%. This growth, fuelled by exports driven in large part by China, is expected to lift growth to between 5 and 6% in 2004 and 2005.

grew by the first reduced led to a buoyant in GDP

In the wake of the Asian financial crisis of 1997-98, South Korea began an economic reform programme that included addressing the problem of the power that the chaebols (large, multi-industry conglomerates) had over the financial sector. The government has introduced regulations to prevent chaebols from arbitrarily channelling money into other subsidiaries. Pressure has also been applied to get the chaebols to spin off their non-core businesses and to rationalize their corporate structures. Under privatization plans eleven state-owned companies were earmarked for disposal. Eight have so far been sold including Korea Tobacco & Ginseng, Korea Telecom and steel-maker Posco. However, plans to privatise Korea Electric Power (KEPCO) have met with fierce opposition (including strikes) from labour unions and have been much delayed. With no oil or gas production, activities in this sector are limited to refining. Despite the consolidation of its refining sector, it has yet to fully recover from the effects of the Asian financial crisis and the shock of the

52

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International Valve Market

1998 deregulation. Since South Korea has to import its natural gas, it is currently investigating the possibility of a natural gas pipeline from Russia. South Korea's chemical industry rates as the world's seventh largest, just behind Italy. Most of South Korea's electrical generating capacity is still controlled by KEPCO, but a few independent power producers exist. The government estimates that its electricity demand will rise at an average annual rate of around 4% per annum through 2015. There are 19 nuclear power plants in operation, supplying almost 16 GW, with another 960 MW under construction. There are also proposals to build a further eight reactors totalling 9.2 GW. Table 5.17 Industrial Valve Market in South Korea (US$ million) Valve Type Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts

Total

2003

2004

2005

2006

2007

2009

125 67 22 6 29 46 60 121

132 71 23 6 31 49 64 128

140 75 24 6 32 53 67 137

148 80 26 7 34 57 71 144

157 85 28 7 36 62 75 152

175 95 31 8 40 71 84 169

476

504

534

567

602

673

5.2.5.4 India The Confederation of Indian Industry (CII) forecasts that GDP growth in the year ending 31 March 2004 will have been 8.4%. This growth has been helped by investment in infrastructure, the corporate restructuring undertaken in recent years, the impact of the global outsourcing of customer support services on exports, the effect of good monsoon rains on agricultural production, and, the global recovery. The CII fbrecasts that growth for 2004-2005 will be in the range of 6.6% to 7.0%. However, there is some uncertainty about the future following the recent shock election victory of the Congress Party. India's oil production has remained fairly static during recent years at just under 800 000 barrels per day. The country has 17 refineries and increasingly pipelines between refineries and major urban centres are replacing rail as the main mode of transportation. India is also investing heavily in the infrastructure required to support increased use of natural gas.

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International Valve Market

The Indian chemical industry occupies an important position in the country's economy and has been growing at about twice the rate of growth in GDP. Continued shortages of electricity continue to plague the country- many industrial users of electricity have invested in small generators for on-site production of electricity. Most of India's power plants are coal-fired, with hydroelectric being the second largest source. The government has plans to increase the use of hydroelectric, nuclear power and natural gas to provide the capacity to cope with an anticipated growth in demand of 3.5% to 4% per annum In 2003, the government launched an initiative to add 50 MW of hydroelectric power by 2012 and several large-scale projects are now under construction. The country has 14 nuclear power plants in operation, with a further eight reactors currently under construction and there arc reported plans to build another 24 with a capacity of more than 13 GW. Most power plant capacity is publicly-owned. Although the government has tried to attract private and foreign investment in new independent power producers, most of the proposed projects have not proceeded because of an inadequate legal and commercial framework and delays in obtaining regulatory approvals. Water supply services are woefully inadequate but again the problem remains one of funding. Table 5.18 Industrial Valve Market in India (US$ million) Valve Type Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts Total

2003

2004

2005

2006

2007

2009

106 56 19 5 43 43 76 99

113 60 20 5 46 46 81 106

120 63 21 5 48 49 87 113

128 68 23 6 51 53 93 120

136 73 25 6 55 57 98 128

155 82 28 7 62 65 111 146

447

477

506

542

578

656

5.2.5.5 Other Asia This region covers all of the Far East and Asia, excluding (including Hong Kong and Macao), India and South region's GCF represented only 10% of the whole of the Asia's investment in 2002, with six countries accounting tbr this investment.

54

Profile of the International Valve Industry

Japan, China Korea. The Far East and about 81% of

5

International Valve Market

Table 5.19 Gross Capital Formation in 2002 Country Taiwan Thailand Indonesia Malaysia Singapore Philippines

US$ billion 49.9 30.4 24.7 23.2 17.9 15.0

Taiwan's economy is heavily oriented towards the manufacture of electronics products, such as personal computers. Weak demand for these products caused a recession in 2001, with GDP falling by 2.2%. A recovery in export markets, and the accession of Taiwan to the WTO, resulted in a recovery in 2002 with GDP growth of 3.5%. Although a growth of 3.7% was expected in 2003, the impact of SARS reduced this to 3.2%. Once a largely agrarian economy, Thailand is transforming itself into a manufacturing economy, now 30-35% of GDP, with industries as diverse as automotive, electronics and textiles. After a slowdown in growth in 2001 to 1 . 9 ~ real GDP growth rebounded strongly in 2002 to reach 5.3% and increased further in 2003 to reach 6.7%. The momentum is expected to continue in 2004. The Thai government has recently announced plans to invest US$1.4 billion to construct four new power plants to meet expected rising electricity demand. The proposed new facilities, each with a capacity of 700 MW, will use natural gas as their main fuel. Construction of the first plant will start in 2005. Indonesia maintained positive GDP growth (3.4%) through the world economic slowdown in 2001. Growth continued in 2002, at 3.7%, and in 2003, at 4.1%, largely driven by private consumption. However, there needs to be progress on banking, legal and judicial reforms to help enhance the investment climate and put the economy on a higher growth path. Oil production has declined steadily since 1996, as its oil fields age and the liberalization of the country's downstream oil and gas sector only making very slow progress. Growth in electricity consumption in the region will be at a lower rate than its neighbours in China, India and South Korea. Water shortage and pollution continue to be problems in the region and investment is expected to address these.

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Table 5.20 Industrial Valve Market in Rest of Asia (US$ million) Valve Type Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts

Total

2003

2004

2005

2006

2007

121 65 36 7 28 37 58 107

128 69 38 7 30 40 60 113

135 73 40 7 31 43 63 121

143 77 43 8 33 46 66 127

151 82 45 8 35 46 75 134

513

543

576

459

485

2009 168 91 51 9 39 52 82 150

642

5.2.6 Australasia The region is defined as including Australia, New Zealand, Papua New Guinea and neighbouring archipelagos. The region is obviously economically dominated by Australia, which accounts for more than 86% of the region's G D R Australia's economy continues to expand, marking its tavelfth consecutive year of growth in 2003, with a GDP increase of 3.0%. There is every indication that this trend will continue in 2004 and 2005. Australia has an active oil and gas industry, sophisticated water management systems and a considerable industrial base in mining and materials processing. However, oil production, after peaking at 812 000 barrels per day in 2000 is on the decline and the country's refineries have been suffering from declining gross margins. In April 2003 Exxon Mobil announced plans to close its Adclaide refinery and further closures can be expected. Natural gas production, however, is on the increase, with a number of gas pipeline projects under way or being planned. Most of Australia's state-owned electric utilities have been privatized and recent years have seen considerable investment, with 3.3 GW of generating capacity being added between 2000 and 2002. The government's Renewable Energy Act, passed in 2000, requires power producers to increase the renewable share of their electricity mix by 2% by 2010. Most of New Zealand's electrical generating capacity is hydroelectric, but there has been hardly any increase in the country's capacity during the past few years, although demand has been rising. With concerns about the problems caused by dry years, other fuels are being considered, but concerns about future gas supplies have delayed decisions on new projects.

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Table 5.21 Industrial Valve Market in Australasia (US$ million) Valve Type Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts Total

2003 72 30 16 5 12 26 37 46

244

:2004

2005

2006

2007

2009

74 31 16 5 12 27 38 48

77 32 17 5 13 28 39 49

79 33 18 6 13 29 41 50

82 34 19 6 14 30 42 51

88 37 21 7 16 33 45 53

260

269

278

300

251

5.2.7 N o r t h America

5.2.7.1 USA The USA was heading for, if not already in, recession before the 9/11 terrorist attacks on New York and Washington DC. The economic fall was quite rapid, coming after a prolonged period of high production. GDP growth, which in 1999 had been 4.2%, fell slightly in 2000 to 3.8%, but then plummeted to 0.3% in 2001. After a slight recovery in the early part of 2002, GDP growth slowed markedly f~om about mid-2002, owing both to rising geopolitical uncertainties in the run-up to the war in Iraq and to the continued after-effects of the bursting of the equity price bubble. GDP growth turned out at 2.2%. Following the end of the war in l raq, the economy began to regain momentum, aided by a sharp rise in government expenditure, resulting in GDP growth in 2003 of 3.1%. The expansion is now firmly established across most sectors of the economy, helped by continued stimulus from fiscal and monetary policies - the US Federal Reserve has maintained its interest rate target at an extremely low level (1.0%), while the US budget continues to run large deficits. Against this background the IMF projects a GDP growth in 2004 of 4.6%, easing back to 3.9% in 2005. Capital spending in the US chemical industry fell every year from a peak of US$33.8 billion in 1998 to US$25.7 billion in 2002. It is thought that 2003 showed a slight recovery and this will continue into 2004. The American Chemistry Council (ACC) has predicted that valve shipments to the US chemical industry would increase by 1.8% in 2003 and 2.8% in 2004. US oil production declined by 1.6% in 2003, while natural gas production was up by 0.7%. Sharp increases in oil and gas prices fuelled a 23.6% increase in exploration and production capital spending in 2003,

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International Valve Market

according to the Oil & Gas Journal (OGJ). OGJ forecasts that the increase in oil and gas exploration and production capital spending in 2004 will be around 5%. OGJ also forecasts capital spending on refining to increase by 11.1% in 2004. During the past decade, interstate natural gas pipeline capacity has increased substantially, and much more will be needed in coming years as demand for natural gas continues to grow. LNG imports are tbrecast to grow by a factor of six by 2015, with the result that existing facilities are being refilrbished and several new facilities are planned. As reported in section 6.7, new investment in the US power generation industry has been delayed or cancelled, following a capacity overbuild. Investment in new plant is expected to remain depressed during the next year or two, although there will be opportunities for upgrade and maintenance work. Although the USA has 104 expected to be built. More licence renewals that extend with operators of most of extensions.

nuclear power plants, no further plants are than 15 reactors have now been granted their operating lives from 40 to 60 years, the others expected to apply fbr similar

The US domestic water and wastewater industry is reported to be in need of major capital improvements and should provide good opportunities fbr valve manufacturers. Table 5.22 Industrial Valve Market in USA (US$ million) Valve Type Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts

Total

2003 619 648 272 66 193 903 212 1010

3923

2004 624 665 277 68 198 935 218 1040

4025

2005 638 686 285 70 204 968 224 1071

4146

2006 652 708 293 73 210 1002 230 1102

4270

2007 670 731 300 76 217 1039 237 1137

4407

2009 692 774 316 81 229 1118 248 1199

4657

5.2. 7.2 Canada Strong domestic demand resulted in the Canadian economy growing by 3.3% in 2002, up from 1.9% in 2001. However, GDP growth fell back again in 2003 to 1.7%. This was due to a combination of factors - the weak US economy, on which Canada is very dependent; a strong

58

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International Valve Market

appreciation of the Canadian dollar affecting exports, which comprise 40% of GDP; and, the SARS outbreak in Toronto. However, export volumes have rebounded and with the expected world trade recovery, the IMF forecasts growth in 2004 of 2.6%, increasing to 3.1% in 2005. Canada's chemical industry, ahhough only about a twentieth of the size of the US industry, is important: to the country's manufacturing industries. The period 2000 to :2002 saw a sharp fall in capital expenditure in the sector, but with chemical sales increasing by 6% in 2003, capital expenditure was also up by 12% and further expenditure is forecast to increase by 10% in 2004. Canada's proven oil reserves are a little more than one-half of the reserves in the USA, with production in 201)3 increased by around 6%. Natural gas production, however, fell by around 4%. OGJ forecasts that capital spending on Canadian exploration and production for oil and gas will be down in 2004, by 2%, but spending on refining (13.8%), crude and products pipelines (49.6%) and natural gas pipelines (12.3%) will be up. Canada has a strong paper and pulp industry, accounting for 6% of world production in 2002. More than one-half of Canada's electricity is generated by hydropower, but trends are for an increase in thermal power generation, mainly natural gas-fired. Table 5.23 Industrial Valve Market in Canada (US$ million) Valve Type Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts Total

2003

2004

2005

2006

2007

2009

52 53 23 4 18 69 22 78

53 54 23 4 18 71 22 80

54 55 24 4 19 73 23 82

55 57 24 5 19 76 23 84

56 59 25 5 20 79 23 86

58 62 26 6 21 85 24 90

319

325

334

343

353

372

5.2.8 Central and South America Central and South America, including the Caribbean, accounted fbr 4.9% of world GCF in 2002. The region is dominated in economic terms by two countries, Mexico and Brazil, which accounted for 40% and 28%, respectively, of the region's GCF.

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5.2.8.1 Mexico Mexico is the largest trading nation in Latin America and the tenth largest in the world. GDP growth has been strong since 1996 and foreign direct investment has surged into the country attracted by Mexico's low costs of production and membership of the North American Trade Agreement (NAFTA). The country also has a low cost, easily trainable workforce. Since the enactment of NAFTA in January 1994, Mexico's imports from the US have grown considerably, totalling US$98 billion in 2002. The US share of Mexico's trade has likewise increased with NAFTA, accounting for nearly 78% of Mexico's total trade in 2002. Mexico is now the second most important US trading partner after Canada. Mexico is vigorously pursuing free trade agreements with other countries in order to reap the benefits of trade and to reduce its dependence on the US market. Mexico has a tree-trade agreement with the EU similar in coverage to NAFTA, and also benefits from agreements with the European Free Trade Association (EFTA). Negotiations to liberalize trade are ongoing with Brazil, Argentina, Panama and Japan. The Mexican economy, after facing a recession and negative real growth of-0.2% in 2001, showed positive growth of 0.7% in 2002. Given Mexico's strong integration with the US, Mexico's recovery is highly dependent upon US economic performance. Growth projections for Mexico from the Mexican Ministry of Finance and Public Credit estimated 2.3% growth for 2003, citing sound fiscal and monetary policies, higher oil prices, and, fhrther integration with the USA as positive factors, but the IMF downgraded this to 1.3% in its April 2004 economic prospects report. Recovery gathered pace in the second half of 2003, in line with a pick-up in US growth and the easing of monetary conditions. Long-term growth, however, is dependent on structural reforms. The limited progress with retbrms in critical areas- including the energy sector, labour market, and, tax system- has dampened private investment and there are increasing concerns about Mexico's medium-term competitiveness. Mexico is the region's largest oil producer (35% of the total), with the state-owned Petr61eos Mexicanos (PEMEX) the major player. Capital expenditure by the company has increased steadily since 2001, and planned expenditure for 2004 is US$12.0 billion, a 12% increase on 2003. To help improve Mexico's US$6 billion trade deficit in chemicals, the government has proposed the Phoenix Project, which consists of an ethane-based ethylene-polyolefin complex in the Coatzacoalcos area and a naphtha cracker for olefins, aromatics and derivatives in Altamira. Some 60

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5 International Valve Market

20 companies are reported to be discussing the projects with PEMEX. PEMEX is already building a 300 000 metric tonne per year polyethylene plant at Coatzacoalcos, which is expected to come on stream in late 2005. CFE and Luz y Fuerza Centro (LFC) are Mexico's two state-owned electricity companies, with CFE generating about 90% of the country's electricity and LFC about 2%. Attempts to increase private sector generation have to date met with resistance from the Mexican Congress. The Mexican Energy Secretariat has estimated that an additional 13 GW of new capacity will be needed between 1999 and 2005 to meet demand. Although Mexico has two nuclear power plants, there are no plans to build new plants. The country has around 10 GW of installed hydroelectricity capacity and plans to expand its use of the technology. In March 2003, a contract was awarded for the construction of the 750 MW El Cajrn hydropower project to be built in the northwest state of Nayarit at Tepic, with completion scheduled for 2008. Table 5.24 Industrial Valve M a r k e t in Mexico (US$ million) Valve Type Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts Total

5.2.8.2

2003

2004

87 39 21 5 18 31 52 61

90 40 22 5 19 32 54 63

314

325

2005

2006

2007

2009

93 42 23 5 19 34 55 65

97 44 24 6 20 35 57 67

101 46 25 6 21 37 59 69

109 49 26 7 22 40 64 75

336

350

364

392

Brazil

Brazil is the largest of the Latin American countries in terms of population and geographic size. GDP grew by 1.5% in 2002, a similar level to that achieved in 2001. However, the election of President da Silva in January 2003 resulted in a weakening of the currency, as the financial markets feared the impact: of the new government's socialist agenda. To regain confidence, tight monetary and fiscal policies were introduced, resulting in a fall in GDP of 0.2%. These strong macroeconomic policies and progress with structural reforms have contributed to improved confideno: and signs of recovery, including a resumption of output growth in the tburth quarter of 2003. The economy is expected to grow by 3.0 to 3.5% in 2004.

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Although only the third largest oil producer in the region, Brazil is the fastest growing, with output more than doubling in the last ten years to in excess of 1.6 million barrels per day. The bulk of oil and gas production is still in the hands of the state-owned Petrobr~is, although there has been considerable investment in the sector since the company lost its monopoly in upstream activity in 1997. Shell became the first private company to produce oil in 2003. In May 2004, Petrobr,-is announced a strategic plan for the period 2004-2010, one of the main highlights of which is to increase oil production in Brazil to around 2.3 million barrels per day by 2010. Total investment during the period is planned at US$53.6 billion of which US$32.1 billion is fbr exploration and production and US$11.2 billion is for refining, transport and communication, US$6.7 billion for gas and energy and US$1.1 billion for petrochemicals. The petrochemical market strengthened in 2003, with Braskem, Brazil's largest private chemical company, increasing its sales in 2003 by 27% to R$11.3 billion (US$3.6 billion). The company invested R$176 million in 2003 and this is scheduled to increase to R$400 million (US$130 million) in 2004. The chemical industry plays a leading role in the development of Brazil's manufacturing industry. The chemical industry ranks second in Brazil's industrial sector with 12.5% of the GDP of the manufacturing industry, behind the tbod and beverage industry with 14.9% of the total. Brazil started deregulating its electricity market in 1995. The distribution sector is now about 60% to 80% privatized, although generation is still mainly publicly owned, with Electrobrfis alone controlling more than 45% of generation capacity. The new Labour Party government, which came to power in early 2003, has given up the plans of privatizing the state-owned generators and intends to increase the role of Electrobr~is as the major promoter of new large investments. Installed capacity was 71 GW at the end of 2000, with 85% of it hydroelectric. In 2001, Brazil had a severe electricity shortage, caused by low rainfall for hydroelectric generation and the general lack of investment in generation and transmission capacit): The Brazilian government has launched the Thermoelectric Priority Program, which consists of a series of measures to increase and stimulate investment in thermal power plants - mainly combined cycle gas turbine plants. Several of these projects are cofinanced by Petrobras and foreign investors. There are also plans to expand hydroelectric capacity. The Brazilian government has announced plans to revive 17 hydroelectric projects in 2004, with a combined capacity of 4.15 GW.

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Brazil is expected to invest heavily in its water and wastewater treatment infrastructure, with government sources estimating expenditure of at least US$20 billion during the next 10 to 15 years. Table 5.25 Industrial Valve Market in Brazil (US$ million) Valve Type Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts Total

2003

2004

2005

2006

2007

2009

61 28 26 7 14 23 34 35

63 29 27 7 15 24 35 36

65 30 28 8 15 25 36 37

68 31 30 8 16 26 37 39

71 33 32 8 16 27 38 41

75 36 34 9 18 30 42 44

228

236

244

255

265

288

5.2.8.3 Rest of Central & South America The third largest country in Latin America, Argentina, saw a recovery from the economic problems in the early 2000s, with a growth in real GDP in 2003 estimated to have been around 8.7%, as consumption and construction investment strengthened. The economy is forecast to expand by a further 5.5% in 2004. Helped by cheap feedstock and encrgy costs, the Argentinian chemical industry recovered in 2003, with a strong growth in output. Repsol YPF has announced plans to invest E1128 million in its chemical activities in Argentina and Spain during the 2003-2007 period. Following the freeze in electricity tariffs by the Argentinian government in January 2002, there has been very little investment in electricity infrastructure. Venezuela has seen a recent recovery in its economy, starting in the fourth quarter of 2003 and continuing into the first quarter of 2004. The economy is emerging from its worst recession e v e r - seven consecutive quarters in which it shrank about 2 0 % - due to the continuing political crisis surrounding President Hugo Chavez and the disastrous oil production strike of December 2002 - February 2003. The state-owned energy company, PDVSA, has recently announced plans to increase its production of crude oil capacity from 3.6 million barrels per day to more than 5 million barrels per day by 32009. The company plans to invest some US$27 billion of its own funds and US$10 billion from third parties. It is reported that PDVSA plans to build a 1 million tonne ethane cracker in Jose, in a US$2.4 billion joint venture with Exxon Mobil.

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Venezuela's untapped natural gas reserves are estimated as the eighth largest in the world and the government is promoting greater use of natural gas domestically as a clean and cost efficient energy source. Venezuela's private sector remains largely on the sidelines, with little domestic investment and a steady loss of jobs and productive capacity. In Colombia, the improved security situation and government measures have boosted confidence. Real GDP growth in 2003 was 3.6% and continued growth of 4.0% is fbrecast for 2004 and 2005. The Chilean economy has similarly performed well with GDP growth in 2003 of 3.3% and boosted by higher copper prices and increased investment in infrastructure, GDP growth of 4.6% in 2004 and 5.5% in 2005 is forecast. Table 5.26 Industrial Valve Market in Rest of Central & South America (US$ million) Valve Type Gate, Globe, Check Ball, Plug Butterfly Diaphragm Pressure Reducing Valves Automatic Control Others Parts Total

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Profile of the International Valve Industry

2003

2004

2005

2006

2007

2009

68 30 16 3 14 19 36 57

70 32 17 3 14 20 37 59

72 33 18 3 14 21 38 61

74 34 19 4 15 22 40 63

77 35 20 4 15 23 42 66

84 37 21 4 17 25 45 72

243

252

260

271

282

305

End-User Markets

An analysis of the worldwide shipments of the US Valve Manufacturers Association's members provides a guide to the end-user markets for industrial valves, as shown in Table 6.1. Table 6.1 Industrial Valve Shipments by End-User Industry End-User Industry Water and Wastewater Chemicals Power Generation 1 Petroleum Production Petroleum Refining Oil and Gas Transmission Gas Distribution Pulp and Paper Commercial Construction Food and Beverage Iron and Steel Other Total

2002 (% of total)

2003 (% of total)

2004 e (% of total)

17.3 17.3 13.2 12.2 11.0 5.4 2.3 6.8; 5.2: 2.3 1.8 5.2

17.4 16.9 13.1 12.3 11.1 5.6 2.5 6.7 5.2 2.4 1.8 5.0

17.9 16.2 12.8 12.4 11.4 5.7 2.4 6.3 5.3 2.4 1.8 5.4

100.0

100,0

100.0

e Estimate 1 IncludesCo-generation Source: Valve Manufacturers Association of America

There are no major changes predicted for the end-user industries during the forecast period with the" water and wastewater; chemical; oil and gas; power generation; and, pulp and paper industries accounting for around 85% of valve shipments.

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6.2 Water and Wastewater The water supply and wastewater treatment industry continues to provide a growing market fbr industrial valves. Apart from the needs of increased water supply to cater for a growing population, particularly in developing countries, concern over water quality and stricter regulation of environmental resources is driving the market for water and wastewater treatment equipment in many countries around the world. The USA is the largest water and wastewater utilities market in the world, with the industry being driven and regulated by the Clean Water Act of 1972 and the Sail: Drinking Water Act, which was re-authorized in 1996. It is generally acknowledged that the US infrastructure is in a poor state. Although the industry invests more than US$20 billion per annum in drinking water and wastewater infrastructure (fairly evenly split between the two sectors), the Environmental Protection Agency's (EPA) Ot]ice of Water has recently reported that the current pace of spending on drinking water infrastructure alone falls US$263 billion short of what is needed during the next two decades. An important trend in the US water industry in recent ),ears, which has been highly fragmented with some 55 000 community companies providing water services, has been the contracting of private companies to operate existing facilities or to build and operate new facilities. USFilter bought heavily in the water supply field (more than 150 companies), until it too was acquired by the French conglomerate Vivendi (now Veolia Environment), in April 1999. In August 1999 another major French water company, Suez Lyonnaise des Eaux (now Ondeo) gained a stronger foothold in the US market by acquiring United Water Resources. In May 2004, Siemens announced that it was acquiring USFilter's worldwide systems and services businesses for US$933 million. The businesses will become part of Siemens' Industrial Solutions and Services Group (ISG). RWE, Germany's second largest utility company, has acquired American Water Works. Together with its acquisition of Thames Water in the UK, this has made the company the third largest ill the world water market. Concerns about water quality and stricter regulation of environmental resources are driving the market for water and wastewater treatment equipment in many countries around the world. In Europe, tile European Union's (EU) Urban Waste Water Directive is stimulating growth in this sector. Many new treatment plants are being built across Europe to cope with rising sludge generation rates and increased levels of

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End-User Markets ,

,

treatment. Many existing plants are also being upgraded or extended to deal with growing sewage volumes. The enlargement of the EU will provide opportunities as the new countries bring their water and wastewater systems up to the recommended EU standards. Urbanization and industrialization in the Asian-Pacific region, which has increased dramatically during the last 20 years, has resulted in a greater demand tbr water, and annual consumption continues to rise in most countries. Water scarcity is a major problem in China. Although there is an abundance of raw water resources, uneven distribution has created severe shortages in certain areas. This is particularly the case in the north, a region that has 65% of the country's arable land and 50% of its industry, but only 20% of the nation's water supply. China's water problems are a major threat to its growth and the Chinese government is trying to encourage foreign enterprises to participate in the construction and operation of municipal water resources projects. Wastewater treatment is l o w - reports vary from 20% to 3 2 % - and wastewater reuse is well below the 75% to 80% average in developed countries. The Chinese government plans to increase wastewater treatment to 50% in urban areas and 75% in key cities by the year 2010. To increase its water supply capacity, it is reported that between 600 and 800 new water treatment plants with a capacity of 400 000 cubic metres per day, will be required by 2010. Veolia Environment has already signed several contracts for the supply of new plants. As part of the preparations for the 2008 Olympics, Beijing is to build six wastewater treatment plants. Latin America is expected to invest heavily in water and wastewater treatment equipment during the next few years. Brazil is one of the most attractive water industry markets in the world. It is reported that while

most urban dwellers (91%) are provided with treated drinking water, only 49% have sewerage network connections and 90% of the sewage collected receives no treatment. The investment requirement for full water supply, sewage collection and treatment is estimated by Brazilian government sources as at least US$20 billion during a 10- to 15-year period. Privatization of water utilities, already a strong trend in the developed countries, is also expected to take on a greater role in the developing world as well, as governments aim to shift the investment onus to the private sector.

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End-User Markets

Most valves produced to handle water are made of cast or ductile iron or cast steel and are generally larger in size than valves for other industries. There is a split between the two main areas of the industry into handling clean water and dirty water or sewage. Clean water is normally handled with butterfly or gate valves. The butterfly valves have steel bodies and the gate valves have ductile or cast iron bodies. Sewage is handled with gate valves as, although butterfly valves have good sealing characteristics, when the vah,e is opened the disc is still flat within the channel and thus presents an obstruction to solids. Specialist applications use knife gate valves or wafer butterfly valves. Plastic valves can be used fbr chemicals but are not used in the water supply. The industry has moved to gate valves with a resilient seat, with mainly rubber materials rather than the metal seat valves for sewage treatment. These are also being used in place of the more expensive rising spindle gate valves. The traditional hemp packing in valves is now being replaced with rubber or plastic O-rings including polytetrafluoroethylene (PTFE). Throughout the water industry, automation with actuated valves has been introduced in response to the requirement for lower manning levels. However, this is limited, as many valves within this industry are isolation valves and theretbre operated manually. The industry requirement is fbr reliability in operation with little or no disruption to the service. The provision of fresh water and the treatment of wastewater will continue to provide good business for valve manufacturers, at above average growth rates, for the foreseeable future.

The European Chemical Industry Council (Cefic)estimates that world chemical production ill 2002 was C1841 billion (US$1735 billion), including pharmaceuticals (23.3% of total) and petrochemicals (12.5% of total). Europe, including Eastern Europe and Turkey, is the major chemical producing region of the world, with a share of 34.4% ill 2002. The growing Chinese chemical industry accounted for 5.5% in 2002.

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End-User Markets

Table 6.2 Breakdown of Global Chemical Production .

.

Country/Region

.

.

.

.

.

Percentage of Global Production (2002)

Europe USA Japan China Rest of Asia Latin America Rest of World 1

34.4 26.4 10.4 5.5 12.7 5.5 5.1

Total

1OO.O

1 IncludingCanada, Mexico, Africa and Oceania Source: Cefic

At its annual Economic Conference in March 2004, Cefic reported that 2003 was a difficult year for the EU chemicals market (excluding pharmaceuticals), with the majority of sectors experiencing only weak, limited growth of 0.6%. The reduction in output growth stemmed mainly from the weak demand in Europe. The serious weakness in Europe was, in turn, due to the absence of a strong driving economy. A modest recovery is forecast for the EU chemical industry in 2004, with the overall output of the industry (excluding pharmaceuticals) growing by 2% in 2004, reaching 2.5% if pharmaceuticals are included. In 2005, the overall output in the EU chemical industry (excluding pharmaceuticals) is forecast to grow by 2.7%, reaching 3.1% if pharmaceuticals are included. Petrochemicals and polymers are forecast to show the strongest growth, after pharmaceuticals, in 2005. In the USA, after a drop in output of chemicals (excluding pharmaceuticals) of 0.2% in 2003, a recovery to 3.0% growth in 2004 is predicted, with similar growth in 2005. Including pharmaceuticals, growth is forecast at 3.8% in 2004, easing back to 3.6% in 2005. Weak demand, increasing feedstock costs in 2002, the Iraq war and its aftermath, and, a further rise in feedstock costs in 2003, has reduced profit margins at chemical companies and led to reductions and/or delays in capital spending, which has impacted valve manufacturers and suppliers. Table 6.3 shows the reduction in capital spending in the major chemical producing countries between 2000 and 2002, and 2003 figures are expected to show a continuing decline.

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End-User Markets

Table 6.3 Chemical Industry Capital Spending ((million) Country

2000

2001

2002

Germany France UK Italy Belgium Spain Netherlands Sweden Ireland Austria Denmark Finland Norway Poland Hungary Czech Republic Slovak Republic Slovenia USA Japan Canada Mexico Brazil

6799 3720 4402 3581 1628 1476 1815 1046 n.a. 606 844 252 145 599 317 268 89 191 32 984 15 463 2008 954 1194

6575 3656 4418 3481 1761 1993 1906 676 568 641 946 221 127 442 331 312 114 221 31 592 15 202 1549 960 1228

6300 3218 3556 3447 1355 2689 1906 662 1814 727 993 355 174 375 323 301 143 230 28 732 12 518 1251 858 1164

Source: Cefic

Industry observers believe that the chemical industry is at the trough of its down-cycle and that 2004 should be one of modest expansion in most parts of the world as production and demand increase, reflected in shutdown plants being brought back on-line and increases in capital spending. Most of the capital expenditure, however, will be directed towards bringing production units up to date and making them more efficient. The continuing high cost of oil and natural gas may continue to have a negative effect on margins and profitability, which may hold back investment. The chemical industry is seeing changes driven by two major thctors: the loss of traditional bulk chemical manufacture to the developing world, where land and labour are cheaper and permits to operate are easier to obtain; and, the emergence of new technologies for the manuthcture of higher added-value products. As environmental pressures in Europe gro~; some large-scale manufacturers arc threatening to relocate to other, friendlier locations. Little new bulk manufacturing plant is being built in the West.

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End-User Markets

Most sales of valves in the developed regions of the world will be for replacement valves and valve parts. A major f3ctor driving investment in replacement parts is the tighter environmental legislation and the control of fugitive emissions. Valve materials also require upgrading to cope with higher process temperatures and more corrosive materials. A multitude of valve designs is required for fluid, gas and slurry services in normal to severe corrosive conditions. There is a strong trend to remote operation of valves, leading to more sophisticated valves with higher added value. Metal-seated valves are attractive in chemical processing applications, as they are fire resistant. Plastic lined valves are finding wider applications in the handling of corrosive and aggressive fluids such as chlorine, although stainless steel valves are still used in many applications involving nitric acid, ammonia and amines. A future trend in technology is the greater use of process intensification, which results in dramatically smaller process plants that often sees equipment performing two or more unit operations. For example, a reactor can also perform the function of a heat exchanger, while condensing, distillation and re-boiling can all take place in a single piece of equipment. This reduces the amount of 'plumbing' required- pipes, pumps, vessels and valves. The growing demand for environmental controls indicates an opportunity for improved investment and this may lead to a growth in push rotary and bellows-sealed valves for extra integrity. Bellows seated valves have been used in applications involving corrosive gases. The major trends affecting the structure of the chemical industry are specialization, globalization and consolidation. As well as mergers and acquisitions, chemical companies are divesting low-margin commodity and/or non-core activities to concentrate on higher-margin speciality chemicals. Merger and acquisition activity in the last few years includes: 2001

9

9 9 9

The merger of Dow Chemical and Union Carbide was finally completed and was followed by Dow's acquisition of: Rohm and Haas's agrochemical business; the British fine chemicals producer Ascot; and, EniChem's polyurethanes business. Degussa, formed in 2000 from the merger of Degussa-H~ils and SKW Trotsberg, acquired Laporte. The purchase of the German Condea Group by the South African Sasol Group. Sunoco purchasing Aristech.

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End-User Markets

9

Investment company Industri Kapital merged Neste Chemicals (acquired in 1999) and Dyno Industrier's chemical operations (acquired in 2000) to create a Nordic speciality chcmicals company, Dynea. 9 The UK-based INEOS acquired" ICI's chlorine, fluorine chemicals and Crosfield businesses; Dow Chemicals' global ethanolamine; and North American gas treating amines businesses, PHENOLCHEMIE; and, a majority sharcholding in EVC (previously an I CI/Enichem joint venture). 9 The French-based Rhodia Group, which had acquired Albright & Wilson (A&W) in 2000, sold A&W's European surfactants business to Huntsman International.

2002 9 9 9 9

9 9 9

72

Dynca acquired Perstorp's resins business. Hercules sold off BetzDearborn (acquired in 1998) to GE Specialit3, Materials, due to debt problems. Du Pont acquired Chem First. Bayer completed its purchase of Aventis CropScience, but subsequently sold various product lines and other assets to meet regulators' demands. It later sold its Haarmann & Reimer fragrances subsidiary to a private equity fund. Solvay bought the Ausimont fluoroproducts business from Montedison. Saudi Basic Industries (SABIC) acquired DSM's petrochemicals unit thereby gaining a European foothold. Johnson Wax acquired Diversey-Lcver.

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End-User Markets

Table 6.4 Top 20 Chemical Companies in 2002 Company (Home Market/s)

Chemical Sales (US$ million)

BASF (Germany) Bayer (Germany) Dow Chemical (USA) Du Pont (USA) Atofina (France) ExxonMobil (USA) Akzo Nobel (Netherlands) Mitsubishi Chemical (Japan) BP (UK) Degussa (Germany) Shell (UK/Netherlands) ICI (UK) Linde (Germany) Sabic (Saudi Arabia) Asahi Kasei (Japan) Sumitomo Chemical (Japan) Solvay (Belgium) Air Liquide (France) Sasol (South Africa) Mitsui Chemical (Japan)

33 778 31 061 27 434 24 006 20 626 20 310 14 681 14 224 12 507 12 336 11 490 9858 9149 9075 8995 8373 8302 8284 8199 7937

Source: Chemical Insight (Reed Business Information)

2003 2003 saw a good deal of redundancies as chemical companies responded to their weak markets. The job cuts were generally part of larger plans to revamp operations and restructure businesses to deal with economic and other issues. The number of mergers and acquisitions were down slightly compared to 2002, but included" 9

9 9 9 9 9 9

A consortium of private equity firms comprising The Blackstone Group, Apollo Management and Goldman Sachs Capital Partners acquired Ondeo Nalco from Suez ; BASF acquired Bayer's insecticides and fungicides business; A consortium of LG Chemical and Honam Petrochemical acquired Hyundai Petrochemical; Bain Capital acquired Total's SigmaKalon; Total's chemical group Atofina acquired a 50% stake in Samsung General Chemical; The German mining and technology RAG group acquired a 46.4% stake in Degussa, which will be increased to 50.1% in 2004; GE swapped its speciality chemicals unit and US$650 million in cash for Crompton's organo-silicones business.

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End-User Markets

2004 9

9 9

9 9

9

Air Liquide, already the largest industrial gases producer in the world, became even larger through the acquisition of most of the operations of its German competitor Messer Griesheim. Ciba Speciality Chemicals acquired paper chemicals specialist Raisio Chemicals. Lyondell Chemical, which has a 70.5% stake in Equistar Chemicals and 58.75% in Lyondell-Citgo Refining, acquired Millennium Chemicals; Koch Industries acquired Du Pont's Invista fibres unit and merged it with its KoSa subsidiary; The German Henkel Group acquired: the Indola cosmetic business; Lucky Silicone, a Korean sealant manufacturer; and, Dial, a US soaps and detergents manufacturer; Blackstone Capital Partners acquired the German Celanese Group.

6.3.1 Pharmaceuticals The pharmaceuticals sector is a major division of the chemicals industryaccounting for 23.3% of sales, with the USA, Europe and Japan accounting fbr around 90% of the global market. The pharmaceutical companies are under extreme pressure to increase their output while cutting costs and drug development timetables. These factors, together with the high levels of investment in research and development (R&D) required, are seeing further consolidation in the industry. In 2001, mergers included: 9 9 9

Abbott Laboratories acquired Knoll Pharmaceuticals from BASF; Johnson & Johnson acquired Alza; Bristol-Myers Squibb acquired Du Pont's pharmaceutical business.

In 2002, the Top 20 pharmaceutical companies accounted for about 60% of world pharmaceutical sales (see Table 6.5).

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End-User Markets

Table 6.5 Top 20 Pharmaceutical Companies in 2003 Company Pfizer Glaxo Smith Kline Merck Johnson & Johnson Aventis Astra Zeneca Novartis Bristol-Myers Squibb Roche Lilly Wyeth Abbott Sanofi-Synthelabo Takeda Schering-Plough Boehringer-lngelheim Bayer Schering AG Sankyo Merck KgA

Pharmaceutical Sales (US$ million) 39 631 29 736 21 038 19 517 19 009 18 849 16 020 14 925 12 208 11 856 11 764 9323 9111 7578 6672 6264 5372 3602 3100 2015

Source: Contract Pharma

In 2003, Pfizer consolidated its market leader position with the acquisition of Pharmacia, while the then world market number three Merck acquired the 49% of Banyu Pharmaceutical it did not own. In 2004, Sanofi-Synth61abo, the French drugs group, acquired its Franco-German rival, Aventis, to become the world's third largest pharmaceuticals company. In Japan, companies are beginning to sell off their pharmaceutical assets, merge or make strategic alliances with other Japanese, European and US companies, as typified by Roche acquiring a 50.1% stake in Chugai, Japan's tenth largest player, merging its Japanese subsidiary, Nippon Roche, into Chugai. In early 2004, Yamanouchi Pharmaceutical and Fujisawa Pharmaceutical announced plans to merge to become the second largest Japanese drug maker after Takeda. China has a developing pharmaceuticals industry. The Shanghai-based China Worldbest Group, up until two years ago principally a manufacturer of textiles and agricultural machinery, has become China's largest pharmaceutical group. Developing from partnerships with several US companies, Worldbest acquired a 40% controlling stake in the stateowned Shanghai Pharmaceutical in 2002. The group has some 4,0 Profile of the International Valve Industry

75

6

End-User Markets

pharmaceutical manufhcturing joint ventures with major companies, such as Johnson & Johnson and Bristol-Myers Squibb, and had sales of an estimated US$2.5 billion in 2003. The Irish pharmaceutical and chemical industry has also grown strongly, with many of the leading multi-national pharmaceutical and chemical manufacturers having established plants in the country. By the end of 2002 a cumulative total of C8.8 billion had been invested in the Irish chemical and pharmaceutical industry. The pharmaceutical industry has requirements for primary and secondary manufacturing processes. The secondary processes have standard requirements covering steam, water and quality water supply. The material of choice is still 316 stainless steel with gate- or bellows-sealed valves for steam handling, bronze gate valves for standard water handling and diaphragm valves for quality water handling. Primary processes require sterile valves tbr materials handling. 6.3.2 Petrochemicals

After several disappointing years, there were signs at the end of 2003 and start of 2004 that the global petrochemical industry was picking up. However, with the continuing rise in prices of tbedstocks- natural gas in the US and crude oil worldwide- the pressure on margins will make companies reluctant to expand. A recent study by SKI Consuhing reported that from 1992 to 2002, worldwide capacity for the top 97 petrochemical products increased by almost 400 million tonnes/year. However, announced planned expansions for 2002-12 total only about 150 million tonnes/year. SKI Consulting forecasts that more than 50% of investment in this period will take place in China and the Middle East (see Table 6.6). Table 6.6 New Petrochemical Investments during 2002-12 Country/Region

Share of Investment (%)

China Other Asia North America Latin America West Europe Central & East Europe Middle East Source: SRI Consulting, World Petrochemicals Program (Figures do not add up to 100, due to rounding)

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Profile of the International Valve Industry

29 16 11 9 4 4 28

6

End-User Markets

The growth of the low-cost operators in the Middle East and Asia will provide intense competition for North American and European-based companies. Downstream manufacturing industries have moved from many countries, including several in Asia, into China. This has made China the largest growing petrochemical market. Major Chinese companies making investments include Sinopec, SECCO Petrochemical, Fujian Petrochemical, Lanzhou Petrochemical and China National Offshore, in joint ventures with Shell. The Middle East is also growing rapidly due to its local, low-cost hydrocarbon resources. Saudi Arabia's Saudi Basic Industries (Sabic) has spearheaded petrochemical developments within the Middle East and now operates 17 state-of-the-art manufacturing facilities, making it the eleventh largest petrochemical manufacturer in the world. Sabic's subsidiary, Jabail United Petrochemical, is scheduled to bring on stream a new 1 million tonne per year ethylene cracker during 2004. Through the government-owned National Petrochemical, Iran has made its petrochemical industry a strong second to Saudi Arabia in the Middle East. Between 2000 and 2005 Iran plans to lift its ethylene capacity from just 719 000 tonnes per year to 4.7 million tonnes per year, with an additional 2 million tonnes per year capacity likely by 2010. Qatar Chemical, a joint venture of Qatar Petroleum (51%) and Chevron Phillips Chemical, started up a 500 000 tonnes per year ethylene plant at Mesaieed in late 2002, which is being further expanded in 2004 and the joint venture is also building another 1.3 million tonnes per year cracker in Ras Laffan, which should start up in 2007.

After remaining virtually static in 2001 and 2002, world oil production increased by 3.8% in 2003 to nearly 76.8 million barrels per day. However, while North America, Europe and Eurasia, Middle East and Africa showed gains, production was down in South and Central America (-3.1%) and Asia Pacific (-1.0%). Despite Iraq and Oman, the Middle East showed the strongest growth at 8.3%. Outside of the Middle East, the strongest growth was shown in Thailand (15.7%), Turkmenistan (15.6%), Algeria ( 11.4%) and the Russian Federation ( 11.0%). UK production has now fallen every year since 1999 with the output in 2003 only 77.6% of the 1999 level. Production in Norway has also fallen for the second year running.

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Table 6.7 World Oil Production in 2003 Region

Daily Production (million barrels)

Change since 2002

North America Of Which: USA Canada

10.44

-0.2%

7.45 2.99

-1.6% 5.9%

South & Central America Of Which: Mexico Venezuela Brazil

10.53

~

3.79 2.99 1.55

5.8% -7.2% 3.3%

Middle East Of Which: Saudi Arabia Iran UAE Kuwait Iraq

22.61

8.3%

9.82 3.85 2.52 2.24 1.34

13.8% 12.6% 17.3% 20.0% -33.9%

Africa Of Which: Nigeria Algeria Libya

8.40

5.5%

2.19 1.86 1.49

8.6% 11.4% 8.2%

Asia Pacific Of Which: China Indonesia

7.87

-1.0%

3.40 1.18

1.5% -8.6%

16.93

4.1%

8.54 3.26 2.25

11.0% -2.7% -8.9%

West & East Europe Of Which: Russian Federation Norway UK Total

76.78

3.8%

(Changes from 2002 are on a weight basis) Source: BP Statistical Review of World Energy 2004

A survey by Citigroup Smith Barney forecast that upstream spending in the oil and gas industry in 2004 would increase by 0.7% in North America and by 6.4% in the rest of the world, with strong growth in Latin America, China and India.

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It is expected that 70% of future investment in oil exploration and development will take place in the 'developing' countries in the Middle East, Africa, Central and South America and South and East Asia. Offshore production currently represents around 30% of world oil supply. The Gulf of Mexico, Brazil, West Africa and the North Sea are the main producing areas, but there is significant potential for offshore production increases in the Chinese seas, Gulf of Oman, the Caspian Sea and SouthEast Asia. World production of natural gas increased by 3.4% in 2003, with the largest growth in Central and South America (11.1%), due mainly to growth in Trinidad & Tobago, Argentina and Brazil, followed by Africa (8.1%) and Asia Pacific (5.5%). Table 6.8 World Natural Gas Production in 2003 Region

Production (billion m 3)

Change since 2002

North A m e r i c a Of Which: USA Canada

730.0

-0.4%

549.5 180.5

0.7% -3.9%

South & Central America Of Which: Argentina Mexico Venezuela Trinidad & Tobago

155.0

11.1%

41.0 36.4 29.4 24.8

13.7% 3.0% 3.4% 43.4%

Middle East Of Which: Iran Saudi Arabia UAE Qatar

257.7

5.3%

79.0 61.0 44.4 30.8

5.3% 7.6% 2.3% 4.4%

Africa Of Which: Algeria Egypt

141.4

8.1%

82.8 25.0

3.1% 10.1%

Asia-Pacific Of Which: Indonesia Malaysia China Australia India

310.5

5.5%

72.6 53.4 34.1 33.2 30.1

3.2% 10.1% 6.8% 1.7% 4.8%

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Table 6.8 World Natural Gas Production in 2003 continued Region

Production (billion m3)

Change since 2002

West & East Europe Of Which: Russian Federation UK Norway Netherlands Uzbekistan

1023.9

3.4%

578.6 102.7 73.4 58.3 53.6

4.2% -0.9% 12.0% -3.8% -0.3%

Total

2618.5

3.4%

Source: BP Statistical Review of World Energy 2004

Natural gas is the world's fastest growing primary energy source. To cope with ever increasing demand, the International Energy Agency forecasts that US$3.1 trillion will be invested in the global natural gas supply chain during the period 2001-2030. Exploration and development of gas fields, including bringing new fields on stream and sustaining output at existing fields, will absorb more than half of total gas investment. The USA and Canada, which have the world's largest and most mature gas industry, are expected to absorb more than a quarter of total world investment during the next two decades. The Organisation for Economic Co-operation and Development (OECD) countries as a whole (including USA and Canada) will account for almost half of global gas investment. Most of the rest will go to the major current and emerging exporting regions- Russia, the Caspian region, the Middle East and Africa. With Russia, Iran and Qatar accounting tbr about 57% of the world's gas reserves, these countries will see considerable gas investment during the coming years. Because many of the natural gas fields in the developing world are remote from major consuming markets, considerable investment will need to be made in pipelines and liquefied natural gas (LNG) trade (see section 6.6). After the mega-mergers in 1999 - BP with Amoco, Exxon with Mobil, Total-Fina with Elf Acquitaine and the Spanish company Repsol acquiring YPF in Argentina - 2001 saw the merger of Chevron and Texaco, and in 2002 Conoco merged with Phillips Petroleum. The valves used in tile drilling, production and gathering of crude oil and gas are generally specialized, high pressure steel products and the market has a high degree of cooperation between vah, e manufacturers and enduscrs.

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With offshore production taking an increasing share of both oil and gas production, there will be a stronger growth for offshore valves compared to onshore valves.

According to the Oil & Gas Journal's annual survey of world refining, refining crude-distillation capacity increased by 0.2% in 2003 to 82.055 million barrels per day. All regions showed a small increase in capacity except for Asia (including Australia) and Eastern Europe. Table 6.9 Production at Worldwide Petroleum Refineries at the end 2003 Region North America1 Central & South America West Europe Central & East Europe Middle East Africa Asia & Australasia

Total

Number of refineries

Capacity ('000 barrels/day)

159 69 104 95 46 44 200

20 370 6 719 14 651 10 564 6 489 3 224 20 038

717

82 055

1 IncludesMexico Source: Oil & Gas Journal

The USA, China, Japan and Russia now account for more than 40% of the total number of refineries. The global refining industry continues to consolidate. The trend that started in the USA in the late 1990s has started to affect other regions as well, with refiners in the Asia Pacific region beginning to shut down

smaller, less-efficient refineries. The number of refineries has declined from 756 at the end of 1999 to 722 at the end of 2002, with a further fall to 717 at the end of 2003. Twenty refining companies now account for 53% of the world's refining capacity.

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Table 6.10 World's Top 20 Refiners in 2003 Company Exxon Mobil Royal Dutch/Shell BP Petroleos de Venezuela Sinopec Total ConocoPhillips Chevron Texaco 2 Saudi Aramco Petroleo Brasileiro Petroleos Mexicanos China National Petroleum (Petro China) Valero Energy National Iranian Oil Nippon Oil RepsoI-YPF Kuwait National Petroleum OAO Lukoil OAO Yukos Pertamina

Total

Crude Capacity 1 (million barrels/day) 5.295 4.815 3.285 2.671 2.665 2.596 2.596 2.183 2.146 1.930 1.851 1.788 1.659 1.474 1.157 1.097 1.085 1.053 1.048 0.993

43.387

1 Includes partial interests in refineries not wholly owned by the company 2 Includes holdings in Caltex Source: Oil & Gas Journal

During the 1990s, the major US oil companies began a process of selective refining and marketing divestiture, which created opportunities for smaller, independent US refining companies. The independent refiners have steadily increased their share of tile refining market in the USA to about 40%. The first independent to acquire a refinery from a US major was Tosco, which acquired Exxon's 200 000 barrels per day refinery in Bayway, New Jersey in April 1993. Tosco grew to become the US's largest independent refiner and marketer, until Phillips Petroleum (which subsequently merged with Conoco) acquired it in 2001. The mantle of the US's largest independent refiner has been taken up by Valero Energy. Valero acquired Mobil's Paulsboro refinery in 1998, Exxon Mobil's Bcnicia refinery in 2000 and in December 2001 it merged with San Antonio, Texas-based Ultramar Diamond Shamrock. In 2003, Valero acquired Orion Refining's Louisiana refinery and in March 2004 it acquired El Paso's Aruba refinery, bringing its total of refineries up to 15.

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After a tough business year in 2002, refiners generally enjoyed muchimproved margins in 2003, as oil demand picked up. Refinery capacity utilization increased in the key consuming regions of North America, Europe and Asia Pacific. While Asia Pacific utilization reached a new peak, North America and Europe remained below the high levels of the late 1990s. Future refinery investment in the developed countries will be moderate and will be dominated by spending on maintenance and to improve product quality (cleaner-burning and low-sulphur fuels), as well as increasing conversion capability. Environmental and planning regulations, and in some cases high land costs, have made it increasingly difficult to build new refineries in developed countries- no-one has built a new refinery in the USA for more than 20 years. Increasingly strict EU environmental regulations have been forcing refineries in member states to upgrade their facilities not only to reduce their emissions, but also to meet new thel specifications. The EU's Directive 2 0 0 3 / 1 7 / E C requires each member state to market gasoline and diesel fuels with a maximum sulphur content of 10 milligrams per kilogram (mg/kg) of fuel by no later than 1 January 2005. Further, by 1 January 2009, all gasoline and diesel fuels marketed in EU member states must have the same maximum sulphur content of 10 mg/kg. A further measure that is being introduced is the E U Carbon Emissions Trading Programme, under which member state governments will allocate annual CO 2 emission allowances to individual companies (including refiners), which then would have met their allowances by either reducing their emissions or by acquiring emission allowances from other companies. Refinery investment in Central and Eastern Europe will be concentrated in the future on updating existing facilities, rather than expanding capacity. The bulk of refinery investment, to increase capacity as well as increasing conversion and quality-treatment capabilities, will be in Asia, reflecting increasing demand in China and India. Investment will also be strong in the Middle East and Africa, as the countries in these regions build new refineries to export products to expanding markets in the Asia Pacific region as well as to Europe and North America.

In its May 2004 Pipeline Construction Scorecard, the Pipeline & Gas Journal reported that around 12 800 miles of crude oil, gas and product pipelines are currently under construction, in more than 40 projects

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around the world. A breakdown by mileage by region shows the Far East ahead with 30%, helped largely by the Xingang to Shanghai natural gas pipeline (2500 miles) in China, being built by Shell/PetroChina/ Sinopec. The Far East is followed by Africa (21%), North America, including Mexico (20%), and Eastern Europe (18%). More than 130 future projects have also been identified totalling around 37 500 miles of pipelines, with North America accounting for about 30%. Major projects in North America include" 9 9 9 9 9

9

9 9

Enbridge Energy's Southern Access crude oil pipeline from Superior, Wisconsin, to Southern Illinois (630 miles); Seminole Group's Liberty crude oil pipeline fi'om Longvie~; Texas, to Cushing, Oklahoma, (280 miles); Alaskan Natural Gas Transportation's Alaska Highway Pipeline project (2100 miles); BP/Conoco/Exxon Mobil's Alaska North Slope Gas pipeline (Southern Route) (2100 miles); 'Over-the-Top' pipeline carrying North Slope and Mackenzie Delta gas to southern markets (1700 miles) proposed by both Enbridge and Arctic Resources; Mackenzie Gas Project proposed by Imperial Oil Resources/Conoco Phillips/Shell/Exxon Mobil tbr gas pipeline from Inuvik to North West Alberta in Canada (1600 miles); Coronado Pipeline Development's Coronado Pipeline Project tbr natural gas from Colorado to Arizona (300 miles); PacificTexas Pipeline's natural gas Picacho Pipeline from West Texas to Ehrenberg, Arizona (825 miles).

Most of the other large oil-pipeline projects planned for the future are in the transition economies in Eastern Europe and the Far East, including: 9 Ambo's Trans-Bulkan Ambo Pipeline from Burgas, Bulgaria, to Vlore, Albania (560 miles); 9 Adriatic Pipeline's Adriatic Pipeline spanning Romania, Yugoslavia and Croatia (744 miles); 9 KazMunaiGaz's Phase II of the SinoKazakhstan Oil Pipeline (807 miles); 9 LUKoil/Yukos, Siberneft and Tyumen Oil's Murmansk Pipeline from Siberia to Murmansk (1860 miles); 9 Transneft's Taishet to Nakhodka oil pipeline (2550 miles); 9 Yukos Oil's pipeline from Angarsk, Russia, to Daqing, China (1500 miles). As in the case of North America, gas pipelines now account for the large majority of future projects in the rest of the world. Major projects include"

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9

9 9

9 9 9

9 9 9

End-User Markets

Gazprom's North Europe Gas (NEG) pipeline from Vyborg to the coast of Germany (Grieswald) (745 miles), with possible extensions to Netherlands and UK; Norsk Hydro's Norwegian North Sea to Easlington, UK project (744 miles); Medgaz pipeline from Algeria to Spain, with further possibility of linking with Trans-Sahara Gas pipeline from Southern Nigeria to Algeria (2500 miles); Russia Petroleum (BP/China National Pipeline Petroleum/Korea Gas), Siberia-China-South Korea gas pipeline (3000 miles); Esso Highlands Papua New Guinea Gas Project from Gulf of Papua to Queensland, Australia (1988 miles); Epic Energy's Darwin to Moomba Gas Pipeline as part of a proposal to bring natural gas from the Timor Sea to south-east Australia (1364 miles); Chevron Texaco's West African Gas Pipeline (WAGP) linking Niger Delta to Ghana, Benin and Togo (414 miles); Techint's Gasoducto del Noreste Argentina Pipeline, from Bolivia to Argentina (930 miles); Petrobas's gas pipeline network expansion in Brazil (870 miles).

There is a trend towards bigger diameter and larger capacity pipelines, with, according to a survey by Oil & Gas Journal, 46% having a diameter of more than 30 inches and 33% having a diameter of 22 to 30 inches. The expansion of the natural gas market right across the world and the mismatch between the location of demand and location of natural gas production fields will continue to drive rapid growth of inter-regional trade. As LNG costs continue to fall relative to pipeline costs, interregional trade in LNG is expected to increase six-fold during the next 30 years, becoming as important as pipeline trade by 2030. In the next decade the LNG industry is expected to invest in excess of US$100 billion. This will see major growth in LNG liquefaction capacity, LNG terminals and the world's LNG shipping fleet- some 60 new tankers have already been ordered for delivery between 2003 and 2006.

6.7 Power Generation Worldwide generation of electricity has increased from 6117 TWh in 1973 to 15476 TWh in 2001 at an annual average growth rate of 3.4%. During this period, the share of the O ECD countries has declined from 72.8% to 61.3%.

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Electricity use in the industrialized nations is expected to increase more slowly than in the developing countries, averaging 1.7% per year during the period 2001 to 2010, compared with 3.1% per annum tbr the developing world. China will show the strongest growth during the period at 4.6% per annum. Investment in the electricity industry tends to be cyclical. After a long period of low orders in the 1980s and early 1990s, there was strong growth from 1998 to 2001, fuelled by a construction boom in the USA which was driven by electricity shortages in many areas (particularly on the west coast), as well as deregulation in the industry. Estimates by Siemens are that orders for worldwide power plants peaked at around 180 GW in 2001, falling back to around 145 GW in 2001, with a further sharp drop in 2003 to around 80 GW. In its World Energy Investment Outlook (2003) report, published in November 2003, the International Energy Agency, tbrecast that during the period from 2001 to 2030, some 4700 GW of generating capacity was expected to be built worldwide to provide additional and replacement plant. Worldwide generating capacity was tbrecast to increase from 3498 GW in 2000 to 4408 GW in 2010. This would lead to, allowing for replacements, an estimated total of 1100 to 1200 GW of new plant. About a half of new power plants will be natural gas fired. Industrialized nations are increasing their use of combined-cycle gas turbines, which usually are cheaper to construct and more efficient to operate than other fossil fuel fired generators. Coal-fired capacity additions will be primarily in China, India and other developing countries. The 'other renewables' s e c t o r - biomass, waste, geothermal, solar and wind - will show tile biggest growth, albeit from a low base in 2001.

Table 6.11 World Generating Capacity (GW) Energy Source

Coal Oil Gas Nuclear Hydro Other Renewables

Total

World Generating Capacity in Year 2010 1277 547 1162 379 911 133

4409

Source: World Energy Investment Outlook (2003) - International Energy Agency

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Starting in 1999, large amounts of new capacity have come on line in the USA, resulting in capacity overbuild. After 2002, the uncertainty about economic growth and the poor financial situation of the electricity sector has resulted in new investments being delayed or cancelled. Investment in new plant is expected to remain depressed during the next year or two, although there will be opportunities for upgrade and maintenance work. Power generation in Europe, like the USA, is a mature market and in the short term will see little new build of power plants, but again there will be opportunities for upgrade and maintenance. In the longer term during the next 30 years- there will be a need for new capacity to meet rising electricity demand and to replace about 330 GW of existing EU power stations. The Chinese electric power industry is now the world's second largest after the USA, with 322 GW installed capacity in 2000, most of it being coal-fired. During the past decade, the country has added an average of 13 GW of new capacity every year, but to cope with expansion, this will need to be at least double during the coming years. Most of this new capacity will be based on coal and hydro power, but in response to increasing environmental concerns, China is expected to increase its use of natural gas and nuclear power for electricity generation. India's installed capacity was 111 GW at the end of 2000, most of which is coal-fired, with hydropower the second largest source. The country's electricity demands are expected to increase more than threefold during the next 30 years. Like China, most new capacity is expected to be coalfired, while natural gas could surpass hydropower to become the second largest source. Russia's installed capacity was 215 GW, the fourth largest in the world. Electricity production, which began to rise again in 1999, after 8 consecutive years of decline mirroring the economic decline after the break-up of the USSR, is forecast by the International Energy Agency (lEA) to increase by 2.3% per annum on average during the next thirty years. Russia's electricity sector is dominated by RAO UES, which was created in 1992 as a joint-stock corporation, with the federal government being the company's major shareholder. RAO UES owns nearly three-quarters of Russia's generating capacity and is the largest power company in the world. As of 30 June 2004, there were 442 nuclear power plants in operation throughout the world, with a total net installed capacity of 363.8 GW, and a further 27 nuclear power plants under construction.

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Table 6.12 Nuclear Power Plants in Operation and Under Construction (at July 2004) Region

North America Central & S o u t h A m e r i c a Western Europe Eastern Europe & FSU

Middle East Africa Far East & Asia

Total

Reactors in Operation

Reactors under Construction

Number

Net Capacity (GW)"

Number

121

110.4

-

6

4.1

141

125.2

-

-

68

46.5

8

7.3

-

-

2

2.1

1

Net Capacity (GW)" 0.7

2

1.8

-

-

104

75.8

16

12.6

442

363.8

27

22.7

* Net capacityis estimated Source: International Atomic Energy Agency

The USA has the largest installed base of nuclear power plants with 104 units, followed by France (59), Japan (54), Russia (30) and the UK (27). Six new nuclear power plants were connected to the grid in 2000, three in 2001, six in 2002, two in 2003 and, at the time this report was compiled, two in 2004. There were three retirements in 2000, none in 2001, four in 2002 and six in 2003. No new nuclear power plants are under construction in either North America or Western Europe, although the Finnish government has recently approved plans to build the nation's fifth nuclear power station, its first new reactor in more than two decades. Plants under construction in Eastern Europe and the fbrmer Soviet Union include Ukraine (4), Russian Federation (3), and Romania (1). Current expansion, as well as near-term and long-term growth prospects, is mainly in Asia. Plants under construction include India (8), China (2), Japan (2), Taiwan (2), South Korea (1) and North Korea (1). The IEA forecasts that nuclear power plant capacity will grow to 379 GW by 2010. The Energy Information Administration (EIA), part of the US Department of Energy, is more bullish, forecasting in its International Energy Outlook 2004 a growth to 392 GW by 2010. In addition to commercial nuclear power plants, there are more than 280 research reactors operating in 56 countries, with more under construction, as well as in excess of 150 ships propelled by more than 200 nuclear reactors. As in other industries, the power generation industry is seeing structural changes driven by the privatization of state-owned electricity assets and

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market deregulation. Although the pace of change is different in each region of the world, the formerly dominant model of large, vertically integrated utilities and extensive state ownership of the electricity industry is disappearing. This deregulation is being accompanied by consolidation, including cross-border mergers/acquisitions. The ten largest power companies in the world now account for nearly one-fifth of the world's installed capacity. Table 6.!3 The World's 10 Largest Electricity Companies Company

Home-base

Capacity (GW)

RAO-UES EDF

Russia France

197 123

TEPCO SUEZ EON ENEL

RWE

AEP

ESKOM ENDESA

Japan France Germany Italy

Germany USA

South Africa Spain

60 55 54 46 44 42

42 42

Source: Company Websites

Many of the valves sold to the power generation industry are highpressure steel valves, both as standard and speciality components. This market has a large maintenance and replacement requirement. There are changes in the type of valves required as companies change their power plant technologies, for example, increasing the use of gas turbines. The nuclear industry, with its high quality standards, provides a niche market for a small number of suppliers.

According to Pulp and Paper International, world production of paper and board increased in 2002 by 4.1% to 331 million tonnes (see Table 6.14). However, for the USA, output fell for the second year running, whilst production in the Far East and Asia continued to increase, and it has now become the largest region fbr world paper and board production, with a share of 31%.

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Table 6.14 World Paper & Paperboard Production in 2002 Country/Region

Share of 2002 Global Production (%)

USA Canada West Europe East Europe China Japan Rest of Asia Latin America Rest of World

24 6 28 4 11 9 11 5 2

Source: Paperloop (reprinted with permission)

Total paper and board production in China reached 37.8 million tonnes, an increase of 8.4% compared with 2001. In June 2003, the President of the China National Pulp and Paper Research Institute reported that within the next two years an estimated 10 million tonnes more were expected to come on stream, bringing capacity close to 50 million tonnes. The Chinese industry is still modernizing. It is estimated that there are more than 4000 paper and board mills in China (about 50% of the world total). However, more than half have an annual turnover of less than US$600 000. Many of these smaller mills will be forced to close as new mills open. During the last ten years, new paper making capacity has mostly been built in Asia. The European pulp and paper industry has made some investment in new capacity, but has focused mainly on machine rebuilding. There have been very few new investments in North America. Except for China and South America, the pulp and paper industry is not expected to increase its investment in new capacity on its historical levels. After the mega-deals in 1998-2000, merger and acquisition activity has slowed a little. More recent deals have included" 9 9 9 9 9 9 9

90

Acquisition of SA Meulemans in Belgium by the Finnish company M-real; Weyerhaeuser becoming a 'top 10' company following its acquisition of Williamette Industries; The merger of Mead and Westvaco to form MeadWestvaco; The acquisition of German-based Haindl by UPM-Kymmene; The acquisition of the French company La Rochette by South African Mondi International; The acquisition of Gaylord Container by Temple-Inland SCA's purchase of the Italian packaging company Busto & Tema, while it has also taken a share of the Mexican company Copamex's tissue operations.

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The top 15 companies, based on their 2002 paper and board tonnage output, is shown in Table 6.15" Table 6.15 Top 15 Paper and Board Producers in 2002 Company (Home base)

Stora Enso (Finland/Sweden) International Paper (USA) Georgia-Pacific (USA) UPM-Kymmene (Finland) Svenska Cellulosa (Sweden) Weyerhaeuser (USA) Oji Paper (Japan) Nippon Unipac Holding (Japan) Smurfit-Stone Container (USA) Abitibi-Consolidated (Canada) MeadWestvaco (USA) M-real (Finland) Norske Skogindustrier (Norway) Asia Pulp & Paper (Singapore) Sappi (South Africa)

Paper & Board Output ('000 tonnes)

13 743 e 13712 e 10 586 10 046 9490

8212 8170 7910 7095 6394

5800 0 5150

4991 4950 e

4322

Source: PPI International (September 2003, page 25). (Reprinted with permission of Paperloop)

The construction industry utilizes valves in environmental control systems, water and wastewater systems, energy lines, commercial building piping systems and other applications. Valve products for this market are generally standardized items produced by many manufacturers. The Global Construction Study 2003 by Global Insight estimated global construction spending in 2002 to be approximately US$3.9 trillion, with growth of 2.8% in 2003 forecast. Growth was expected to accelerate in 2004 and average around 5% during the 2002-2007 period. However, growth during 2002-2007 will vary with India (9.5%), Thailand (8.5%), Kuwait (8.3%), China (8.2%) and Brazil (8.0%) showing the strongest increase. The USA is expected to grow close to the global average, with Western Europe lagging slightly behind.

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The food and beverage sector includes a wide range of production processes: 9 9 9 9 9 9 9 9

Processing and preserving of meat, fish and their products; Processing and preserving of fruit and vegetables; Manufacture of oils and fats fi'om animal and vegetable sources; Manufacture of dairy products; Milling of grain and manufacture of cereal and starch products; Manufacture of animal feeds; Manufacture of" bread, sugar, confectionery, and processing of tea and coffee; Production of beverages, alcoholic and non-alcoholic, and of mineral watcr.

The manufacture of tbods and drinks represents, in normal times, a very stable industry, with steady growth at rates very close to the levels of GDP growth. It can be expected to show similar growth during the next few years, in line with general economic movement. Retailer consolidation is having a dramatic effect on the food industry. Many food processors see growth through acquisition as a way to leverage themseh, es against the needs and demands of the increasingly more powerful retailers. This is leading to an increased concentration of manufacturing and marketing in the hands of fewer and more powerful multinational companies. In addition to mergers and acquisitions, there is increasing activity in the purchase and sale of brands and product lines. Table 6.16 shows the top 20 food and beverage companies (based on sales in fiscal year 2002), with twelve of the companies being US-owned.

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Table 6.16 Top 20 Food and Beverage Companies in Fiscal 2002 Company

Home Country

Food & Beverage Sales (US$ million)

Nestld Altria Group/Kraft Foods Unilever PepsiCo Archer Daniels Midland Tyson Foods Cargill ConAgra Foods Coca-Cola Mars Diageo Anheuser-Busch Groupe Danone Kirin Brewery Asahi Breweries Heineken Suntory General Mills Sara Lee Dean Foods

Switzerland USA UK/Netherlands USA USA USA USA USA USA USA UK USA France Japan Japan Netherlands Japan USA USA USA

54 254 29 723 25 670 25 112 23 454 23 267 21 500 19 839 19 564 17 000 15 137 13 566 12 742 12 386 10 825 10 775 10 545 10 506 9219 8792

Source: Leatherhead Food International Global Food Markets Database

Nestl6 acquired Ralston Purina to put it further ahead at the top of the list in 2002, and Tyson Foods more than doubled in size following its merger with IBP. General Mills moved into the Top 20 following its acquisition of the Pillsbury business from Diageo. Heineken also moved into the Top 20 as it expanded into new markets. SAB Miller, formed in 2002 when South African Breweries (SAB) acquired Miller Brewing, the second largest US brewer, from the Altria Group (previously Philip Morris, owners of Kraft Foods), is growing rapidly. The company acquired Birra Peroni in Italy and Browar Dojlidy in Poland during 2003, when it also took a 29.6% stake in the Chinese Harbin Brewing Group. In May 2004, SAB Miller launched a hostile offer tbr the remaining shares in Harbin, but eventually lost the bid to its arch rival Anheusero Busch.

The food and beverage industry has high standards in all operations and spends heavily on process plant modernization. A recent report by ARC Advisory Group forecast that the worldwide market for plant-level expenditures in the industr); which totalled more than US$280 billion in 2003, will exceed US$340 billion by the end of 2008, at an average annual growth rate approaching 4%. Food plants have become much more automated in recent years, in order to improve product repeatability and plant efficiency.

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Changing patterns of consumption and product innovation are requiring the ability to switch product lines quickly. Manufacturing flexibility and line adaptability is becoming very important within the food industr): Manufacturers are often required to change their operations at short notice with minimum downtime, product loss and cost. The food and beverage industry is a large user of gas, compressed air, steam and water on a continuous basis, indicating a requirement fbr general process control valves in addition to the sterile valves fbr handling the food products. The food industry is seen as a growth market for all valve types, principally made of stainless steel, but also including plastic/polymer valves, although use of these is limited by the need tbr aggressive or caustic cleaning. However, manual shut-off valves are still found in areas of planned maintenance shut-down or in problem areas which may need to be cleared. Products can then be left in the pipeline, leaving only a small section to be cleared and cleaned.

World crude steel production in 2003 increased by 6.8% to 964.8 million metric tons, driven by substantial increases in production in China (20.8%), India (10.4%) and Ukraine (+8.2%). There were marginal decreases in production in the USA (-0.2%) and Germany (-0.4%). Fifteen countries account for about 82% of world crude steel production, as shown in Table 6.17: Table 6.17 World Production of Crude Steel in 2003 Country

Production (millions of metric tonnes)

China Japan USA Russia South Korea Germany Ukraine India Brazil Italy France Taiwan Turkey Spain Canada Rest of World

Total Source: International Iron and Steel Institute

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220.1 110.5 90.4 62.7 46.3 44.8 36.9 31.8 31.1 26.7 19.8 18.8 18.3 16.5 15.9 174.2

964.8

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With the present momentum in the world steel industry, 2004 production is forecast to reach 1000 million metric tonnes for the first time. The International Iron and Steel Institute forecasts that global consumption of finished steel products will increase by 6.2%, or 53 million metric tonnes, driven again by strong growth in China (13.1%). Growth in the global consumption of finished steel products is expected to ease back in 2005 to 4.5%, with Chinese consumption growing by 10.4%. With reported plans to increase production capacity by up to 80 million metric tonnes, China is expected to increase its share of world crude steel production. The world steel industry continues to see mergers and acquisitions. In February 2002, Arbed (Luxembourg), Usinor (France) and Aceralia (Spain) merged to form Arcelor (Luxembourg) and become the world's largest steel manufacturer. Lakshmi Mittal's LNM continues its rapid expansion. Recent acquisitions include" Sidex in Romania (November 2001); Annaba in Algeria (October 2001); a 47% stake in Iscor, South Africa's largest steel producer; Nov~i Hut in the Czech Republic (January 2003); and Petrotub Roman in Romania (December 2003). Four more acquisitions in early 2 0 0 4 - Polskie Huty Stali (Poland), Huta Stali Czestochowa (Poland), Balkan Steel (Macedonia) and Siderurgica Htmedoara (Romania) - will elevate LNM to the position of the world's second largest steel manufacturer in the world (and possibly the largest). Some of the largest changes have occurred in the USA, where a number of bankruptcies have resulted in a restructuring of the industry. International Steel Group was formed in April 2002 through the acquisition of the bankrupt LTV. It has since acquired further bankrupt steel companies including Acme Steel (October 2002), Bethlehem Steel (May 2003) and, in 2004, Weirton Steel. Nucor acquired Birmingham Steel in December 2002, while United States Steel acquired the bankrupt National Steel in May 2003. In Brazil, Gerdau and Aqo Minos Gerais have now merged into a single company. In April 2003, Kawasaki and NKK Posco merged to form JFE Steel, becoming Japan's second largest steel manufacturer. Nippon Steel has made a number of strategic alliance agreements, including agreements with Korea's Pohang Iron and Steel (POSCO), Usinor (now Arcelor), and Kobe Steel. In December 2003, Nippon Steel, Baoshan Iron and Steel (Shanghai Baoshan) and Arcelor signed a joint venture agreement to establish a company on Baoshan's premises to manufacture and sell automotive steel sheets.

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It is reported that Shanghai Baoshan, China's largest steel manufacturer, has won approval to increase production to 30 million tonncs by 2010 and is believed to be planning to eventually produce as much as 40 million tonnes a year. The company is also in talks with CVRD of Brazil, the world's largest iron ore producer, about setting up a plant ill Brazil to feed unfinished steel products to North America and China. The world's top 20 steel producers, set out in Table 6.18, now account for close to 40% of world production.

Table 6.18 Top Steelmakers in 2003 Company Arcelor Nippon Steel LNM Group JFE Steel POSCO Shanghai Baoshan Corus Group US Steel Thyssen Krupp Steel Riva Group Nucor Sumitomo Metal SAIL Gerdau Group Evraz Holding Magnitogorsk International Steel Group Anshan China Steel Severstal Source: Metal Bulletin

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Home Country

Crude Steel Production (million metric tonnes)

Luxembourg Japan Netherlands Antilles Japan South Korea China UK USA Germany Italy USA Japan India Brazil Russia Russia USA China Taiwan Russia

42.78 31.76 31.13 29.78 29.71 19.87 18.87 17.92 17.02 15.66 15.82 13.29 12.39 12.30 12.07 11.47 10.61 10.18 10.10 9.89

Valve Technology

Industrial valves operate under many different situations. Operating temperatures, for example, can range from the cryogenic to the very high, while the materials being handled may include grit, sugar, sludge, corrosive chemicals and/or liquids. It would not be unusual to find more than 1000 valves of different types in one processing plant. Even those industries with requirements for specialist valves, such as the sterile valves used in the food industry or the cobalt-free components operating in the nuclear industry, will still require standard commodity valves in process applications. The poor performance or tailure of these valves can be expensive or even disastrous. In general, valve technology is mature, but there are still developments in materials, design and automation to be made. The Greek and Roman periods saw the development of the plug cock valve which remained virtually unchanged until the 19th century. The development of the steam engine from the early 18th century lead to further valve improvements including the introduction by Timothy Hackworth of adjustable springs to the steam safety valve instead of weights. The groove packed plug cock was introduced by Dewarance & Co in 1875, making a valve that was easier to operate and more suitable for steam. In 1886 Joseph Hopkinson introduced the parallel slide valve where the sealing of the valve was produced by line pressure on the disc. As an indication of the maturity of the valve industry, this system is still manufactured today. During the last 60 years, traditional valves such as gate and globe have been re-appraized in the light of the new materials available for use. This has lead to the development of the lubricated taper plug, diaphragm, ball and butterfly valves. The lubricated taper plug was developed during

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World War I to overcome excessive leakage and sticking in ordinary plug valves. The diaphragm valve was developed in the South African gold mines when faced with excessive leakage of compressed air at the glands of the valves. The ball or spherical plug valve was developed tbr fuel systems in World War II. The first butterfly valve was used by James Watt for his steam engine. The butterfly valve was also used by the first Mercedes car in 1901 for the fuel intake linked to the accelerator pedal. Developments in the last ten years have produced the high performance butterfly vah,e. Actuators, which control the movement of the valve and may be manual or automatic, are a major ancillary item for valves. A variety of drives are available including electric, electro-hydraulic, pneumatic diaphragm and multi-spring operation. Valve positioners are operated by pneumatic, electro-pneumatic or digital electronic control. Depending on the sophistication of the application, the cost of actuators, control accessories and mounting hardware can represent between 45% and 75% of the total cost of a valve control package. High technology industries have a large percentage of automatic valves, with the cost of the valves only a small percentage of the cost of the overall installation. As examples, the biotechnology industry will t3,pically have 50% automated valves and in semiconductor manufacturing plants up to 75% of valves will be automated with each valve varying in cost between US$100 and US$2500.

Major users of valves include the oil, gas, chemical and petrochemical industries, which have a particular requirement for stand alone microprocessor valve technology and actuators for remote monitoring and control of pipelines. This allows operators to acquire data, modulate and calibrate flow, control the valves, stop and start pumps and compressors and perfbrm emergency shut-down from a central control unit. Undersea operations are an extreme example of such requirements as maintenance and replacement can be both expensive and dangerous. There are two main divisions in the industry: control valves that allow the precise adjustment of flow and cost, on average, between US$2500 and US$3500 each; and, o n / o f f valves, some of which have an intrinsic measure of control, although this may be of a less precise nature.

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The o n / o f f valves are divided into linear (multi-turn) and rotary (quarter-turn). The main feature of linear valves, which include gate, globe and diaphragm types, is that tighter shut-off may be achieved by simply tightening down on the threaded stem. Although often supplying the less sophisticated end of the market, some multi-turn valves can be very expensive due to the large size of the casting- up to 2 metres in length and weighing 5-10 tonnes. Rotary valves, including ball, plug and butterfly valves, are usually simple, lightweight and easily maintained. While both linear and rotary valves can be automated, this is easier with the latter type. Consequently, in industries where this automation is important there has been a move to rotary valves. As a general rule, applications requiring moderate pressures would specify a disc, those with high pressure would use a conical wing and those with viscous liquids would use ball valves. The main types of valves are"

7.2.1 Ball Valves Ball valves are among the least expensive and most widely used of all valve types, as well as being available in an extremely wide range of sizes. Their basic geometry involves a spherical ball located by two resilient sealing rings in a simple body form. The ball has a hole through one axis, connecting inlet to outlet with full-bore flow when aligned with the axis of the valve. Rotating the ball through 90 ~ completely closes the flow passage with positive sealing via the sealing rings. The ball valve is available with one, two or three-piece designs. The onepiece valve has to be removed from the pipeline and dismantled to allow maintenance, but two or three-piece bodies normally allow for in-line maintenance and repair. Ball valves are also available with top-entry and multi-port configurations and special designs, with V notches or fingers, are available for throttling applications. Larger valves with heavier balls, for large pipelines, may use trunnions to help support the ball and prevent damage to the sealing rings. Historically, ball valves have been produced with soft seats, such as rubber, neoprene, nylon or polytetrafluoroethylene (PTFE), the latter frequently compounded with graphite, glass or steel powder to improve the material properties. New and improved polymers, such as polyetheretherketone (PEEK), are increasingly used to improve pressure and temperature performance.

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Metal-seated ball valves first came to prominence in the 1960s. They offer a number of advantages, including: tight shut-off; smooth control; no jamming; low torque; wide temperature range; good corrosion and wear resistance; and, stability under pressure. However, metal seals do not bed in as easily as soft seals under pressure. Ball and sealing rings have to be machined precisely and have both hard- and low-friction coatings applied to the base material. Metallic seats tend to employ both nickeland cobalt-based alloys and elements, such as chrome and tungsten. Advantages of ball valves include ease of operation, standard face-to-face dimensions, high flow capacity, high pressure/temperature capabilities, ability to handle severe service chemicals (eg dry chlorine, hydrofluoric acid, oxygen) and ease of automation. Disadvantages of the ball vah,e design are its inability to handle slurry applications and a lack of cleanliness that can lead to contamination. A ball valve can be manually actuated by means of a straight handle, but many manufacturers offer a separate pneumatic or electric actuator that can be mounted on top of the valve. A proportioning electronic actuator allows the valve to be partially open, thus providing throttling control. Ball valves are widely used in refineries, chemical and petrochemical complexes, power generation, gas and oil production, the pulp and paper industry, the fbod industry, and, the water supply industry.

7.2.2 Butterfly Valves The butterfly valve is a quarter-turn valve that uses a circular flat disc, which opens and closes at right angles to the flow path. The standard design has the valve stem running symmetrically through the disc, but double-eccentric (offset) design butterfly valves have the sealing plane of the disc offset from the axis of rotation to create an interrupted sealing surface. With the axis of the disc laterally displaced fi'om true centre of the disc with this type, the disc will 'cam' away fi'om the seat as the valve is o p e n e d - thus reducing rubbing between seat and seal during valve travel. A more recent development has been the triple offset type of butterfly valve, where the axis of the disc is offset in two directions with respect to the conical seat edge. This completely eliminates rubbing and the associated wear and leakage between the seat and disc-mounted seal ring. This has significantly extended the use of the butterfly vah, e in more demanding applications. Many design types are available, including inexpensive Teflon or resilient seats for use in applications such as water treatment plants. More expensive metal seats can be used where high temperatures and/or

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aggressive chemicals are encountered. 'High performance' butterfly valves offer zero leakage designs and have been used in both the chemicals and hydrocarbon processing sectors. Butterfly valves can offer attractive cost savings and operating benefits compared with conventional globe valves. With high flow capacities, butterfly valves enable the use of smaller units that reduce costs, as well as weight and space requirements. Butterfly valves have the disadvantage that they restrict the flow through the pipe and that solids catching on the disc can cause blockages or prevent the valve from closing. However, butterfly valves are used in high temperature, high pressure applications and/or those involving toxic or corrosive fluids. Modern butterfly valves normally have a wafer design, fitting directly between pipeline flanges, thus facilitating pipeline design. Butterfly valves can be used for o n / o f f and throttling applications and, while manual butterfly valves are popular, electric and pneumatic actuators are available for mounting directly on the valve. Butterfly valves are used to handle liquids, gases, steam, cryogenics and pulpstocks for both control and shut-off services in a range of applications including chemical processing, waterworks duties, oil and gas processing, pulp and paper manufacture, the power industry, refineries, food and beverage processing, and, fire protection systems.

7.2.3 Check V a l v e s In general terms, check valves are intended to prevent reverse flow in a line, tbr example, to prevent water hammer after a pump has stopped. In different applications, they are also known as non-return valves, reflux valves, flap valves, retention valves and foot valves. The basic principle of the valve is to allow flow in one direction only. With non-return valves, the check valve is self-actuating when flow is reversed. Swing check valves have a hinged disc as the closing member. Lift check valves are usually made with the disc acting against a piston to provide some 'damping' against fluctuations in flow. Lift check valves are also made with a ball. Diaphragm check valves use a flexible elastomeric diaphragm as the closing member and are available in various designs. Certain check valves are available as wafer types designed for fitting directly between pipeline flanges. Many types of check valves are available with an external lever or internal spring to assist the closure of the valve.

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7.2.4 Diaphragm Valves The closure device in this type of valve is an elastomcric diaphragm or tube that acts as a flexible seal when compressed against a ridge in the valve body. Diaphragm vah,es have two basic d e s i g n s - weir style and straightthrough valve. In the tbrmcr, the body has a dividing weir, above which is mounted an elastomeric diaphragm. In the closed position the diaphragm sits on the weir, while in the open position it is fitted to provide a streamlined flow through the valve body. The amount of lifting is variable, so the valve can act both as a flow controller or a stop vah, c. The weir style diaphragm valve is utilized for higher pressure applications. The straight-through diaphragm valve may have a parallel, top-tapered or venturi-pattern body with closure provided by a wedge-shaped projection of the diaphragm. Because of the full-bore opening, it is well suited for higher flow and slurry applications and is also capable of being roddcd through tbr the clearing of any blockages. Due to the vah,e's streamlined flow path and absence of cavities, the vah,e is considered to be the 'cleanest' of all valve types and for this reason is used extensively in the pharmaceutical, bioprocessing and fertilizer industries, as well as in the electronics industry for high-purity water and liquid systems. Since the diaphragm isolates the moving parts, these vah, es are particularly suitable for handling aggressive fluids, as well as for clean fluid applications- the type of elastomer being chosen accordingl): The body itself can also be lined for corrosive duties. Typical body materials are cast iron, malleable iron, bronze, gun-metal and stainless steel. Lined diaphragm valves normally have cast-iron bodies lined with rubber, neoprene, polypropylenc, PTFE or glass. Asahi/Amcrica has recently introduced EL-PVDF and EL-PTFE diaphragm valves, with diaphragm and compressor inserts made from palladium titanium, for aggressive brine service applications. The main disadvantages of the diaphragm valve are that the maximum service temperature and pressure are limited by the temperature/pressure rating of the elastomeric material, the multi-turn operation and the lack of industry standard face-to-thee dimensions.

7.2.5 Gate Valves A multi-turn valve, the gate valve uses a flat face, vertical disc or wedge that slides in a track or scat that can be lifted in a direction at right angles to the valve until clear of the flow path. Generally; gate valves are used tbr on-off non-throttling service and are used extensively in bulk pumping practice.

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Gate valves are divided into a number of classes, depending on the design of the gate and its seating faces. In wedge gate valves, the closing member is tapered and may be solid, flexible or a double-disc type. Parallel slide gate valves have two parallel slide discs, usually separated by a spring. Conduit gate valves use a parallel disc that is extended with a circular port to obtain a smooth full bore in the open position. Kalife gate valves, also referred to as slide or blade valves, use a narrow section parallel disc usually tapered at the end to provide a simple cutting edge. The bellows seal gate valve has been designed to minimize exposure to dangerous or harmful substances through valve-stem leakage. The metallic bellows is welded to the top of the gate and to the body/bonnet collar and flexes as the valve stem moves, thereby preventing the process fluid/gas from coming into contact with the stem. This eliminates gland leakage and fugitive emissions. Gate valves are used mainly in general industry, power stations, process engineering, pulp and paper and marine engineering for water, steam, gas, oil and non-aggressive media.

7.2.6 Globe Valves Globe valves are based on the screw spindle, where movement of the spindle exerts pressure on a sealing disc or plug to open or close it. All types of globe valves have fine adjustment and permit unobstructed opening through pipelines, which makes them popular as industrial valves. Globe valves are produced with a variety of discs or plugs, and, seals. Discs provide line contact with the seat that can be broken by solid deposits forming on the seat. They are, therefore, mainly restricted to use with clean fluids. Plugs are used in a variety of configurations, ranging from needle shapes to semi-discs. The plug contour also governs the throttling characteristics. Needle plugs provide the finest flow control, with globe valves so fitted normally referred to as needle valves and are normally made only in small sizes. Globe valve seats may be cast integral with the body or take the form of screwed-in, pressed-in, or spot-welded rings. A variety of materials may be used for seats, depending on the application, including coated seat rings with plastic inserts.

7.2.7 Needle Valves As mentioned above, the needle valve is a type of globe valve. Since they are normally small, the needle valve is used mainly in laboratory and

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industrial applications where precise control of fluid is critical. Most needle valve manufacturers offer a vernier scale handle to indicate the state of opening or closing.

7.2.8 Pinch Valves The pinch valve is an early tbrm of the diaphragm vah, e and the simplest in design, comprising an elastomeric tube or sleeve that can be squeezed to control the flow of liquid. The operating mechanism of a pinch valve does not come into contact with the liquid, making them suitable fbr aggressive and highly corrosive fluids, while the streamlined flow associated with them makes them suitable for low-pressure slurry applications. Disadvantages include the limited materials of construction and their relatively low maximum operating pressure.

7.2.9 Plug Valves Very similar to a ball valve, the plug valve is quarter-turn in operation and uses either a cylindrical or conical plug as the closing member. They are less efficient than ball valves and can only operate when fully open or closed. Plug valves are produced in a variety of metals and plastics and also include lined types. The metals most commonly used in their production are brass, bronze, steel and stainless steel. There are several designs of plug valves. Lubricated plug valves have a special lubricant, that also acts as a seal, injected between the plug and the valve body. Eccentric plug valves are non-lubricated and have a cylindrical seating surface offset from the centre of the valve stem. Sleeved plug valves have a 'soft' insert between the plug and valve body. Multi-ported valves have a special plug and body with various flow configurations.

7.2.10 Pressure Reducing Valves Pressure reducing valves are an automatic valve that reduce the upstream line pressure to a set level downstream and maintain the reduced pressure, irrespective of upstream pressure change or variation in flow. Valves may be direct acting, where the downstream pressure is set by rotating a hand wheel, or pilot operated, where a small direct operated pilot controls the main valve.

7.2.11 Safety and Relief Valves Valves that are vital fbr the protection of people and plant are termed sat~ty and relief vah'es. These valves operate automatically when a predetermined pressure level is exceeded by releasing an adjustable spring that holds a valve disc against a valve seat.

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7.2.12 Solenoid Valves A solenoid valve is activated by an electrical coil (solenoid). The valve is opened or closed by an electrical signal, which may be alternating current (AC) or direct current (DC). Solenoid valves can operate in two m o d e s normally-open or normally-closed. There are two types of solenoid valves: direct-acting and pilot-operated. When the solenoid is energized in a direct-acting vah,e, the plunger directly opens the orifice of a normally-closed valve or closes the orifice of a normally-open valve. In the pilot-operated valve, the solenoid valve is fitted with a pilot orifice. When the solenoid is energized, the pilot orifice is opened and releases pressure from the top of the valve piston or diaphragm to the outlet of the valve. This results in an unbalanced pressure that forces the line pressure to lift the piston or diaphragm off the main orifice and open the valve. When the solenoid is de-energized, the pilot orifice is closed and the full line pressure is applied to the top of the piston or diaphragm to close the valve.

7.2.13 Control Valves A control valve is used to automatically regulate the flow of fluid in a control system in response to a process signal from an external device, such as a flow meter or temperature gauge. Control valves may incorporate several different types of valve, with ball, butterfly, diaphragm and globe valves all being extensively used. Their operation is controlled by an electric, pneumatic or hydraulic actuator.

The major developments in technology required by all end-user industries are:

9 9 9 9 9 9 9

Reduction in fugitive emissions; Noise control; Improved automation, including links to the distributed control system; No degradation of valve structure whatever the media flow; Easy cleaning, maintenance and replacement; Weight savings; Smaller size with less intrusion into the pipe.

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7.3.1 Fugitive Emission Control The problem of fugitive emissions, which is critical in every end-user industry for environmental, safety and/or for cost reasons, is placing increasing demands on valve technology, particularly on the design and quality of the seals. Valves that rely upon reciprocating stem actions for their operations, such as gate and globe vah,es, arc potentially subject to greater wear at the stem seal area than quarter-turn valve designs, such as ball and butterfly valves. This is playing an increasingly important role in the end-user's choice of vah, e type for particular services. A great deal of work has been carried out and is still progressing in a number of areas including: 9 9 9 9

packing improvements; valve design to improve packing reliability; emission measurement methods and cross correlation between diffizrent methods; manufacturing-based test methods to ensure reliability.

Ideally, a packing system for on-off valves or control valves should combine low stem fi'iction for better control valve response, with low fugitive emissions and low maintenance. The first choice of packing, wherever possible, is graphite. This is available in a range of configurations, often based around compressed exfoliated graphite. Some other constructions or routes to manuthcture are also used. In order to provide the maximum sealing fbrce, various taper wedge designs have been produced so that the axial gland tightening force is translated into a radial sealing force. This is a compromise to achieve optimum emission reductions without excessive friction and wear, which can inhibit valve operation and shorten life. If a highly corrosive product is involved, then the alternative to graphite is generally a PTFE-based material. PTFE, however, has a tendency to cold flow and creep over time. The initial seal may be very good and demonstrate low emissions, but the sealing force will be lost quite rapidly, especially through elevated temperature cycles, meaning that an adjustment will soon be required. Packing systems have been developed by combining PTFE and graphite with high-performance perfluoroelastomer parts. Bellows, which were originally introduced more than two decades ago as a positive method of containing toxic and hazardous chemicals, arc still used for maximum containment, but they are considered an expensive method to control fugitive emissions. The extensive efforts to reduce valve packing emissions is demonstrated by the large volume of work that has been carried out on emission

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measurement techniques and current research to apply finite element modelling to fibrous packing materials. A potential problem with the application of emission measurements, which are currently being established as international standards, is the cost and complexity of the testing required. The industry may have to re-examine the purchasing cost structure to accommodate these tests. Currently the most widely recognized fugitive emission measurement standard is the International Standard ISO 15848 - Industrial ValvesFugitive Emissions- Measurement Test and Qualification Procedures, which is presently at the Draft International Standards (DIS) stage. Other valve emission standards include: 9 9 9

9

9

Environmental Protection Agency (EPA) Method 21, which defines measurement methods using portable instruments; ISA-93.00.01 Standard Method For The Evaluation Of External Leakage Of Manual And Automated On-OffValves; Shell MESC SPE 77/312 Industrial Valves: Fugitive Emission (FE) Measurement, Classification System, Qualification Procedures And Prototype And Production Tests Of Valves; ANSI/FCI 91-1 developed by the Control Valve Section of the Fluid Controls Institute. The 'Standard for Qualification of Control Valve Stem Seals to meet EPA Emission Guidelines for Volatile Organic Compounds' was adopted in October 1994. VDI 2440 Emission C o n t r o l - Mineral Oil Refineries, adopted in 2000.

Specialist companies producing packing and gaskets for valve manufacturers include: Apple Rubber Products; Durabla Manufacturing; Flexitallic Group; Flowserve Flow Solutions Division; Macrotech Polyseal; Parker Hannifin Packing Division; Precision Polymer Engineering; Sealing Corp; Slade; Technical Sealing Products; Thermoseal; Utex Industries; and, Victaulic Co of America. 7.3.2 Noise Control

There are demands for compliance with new performance criteria that limit the amount of noise and vibration that valves generate. Cavitation is seen as limiting the performance of the valve and there is a demand for 'low noise' valves. The key design feature of such low noise valves is in the trim that constrains the fluid to flow through a large number of small, tortuous paths that provide a throttling action in converting potential energy first into kinetic energy and then into internal energy in a multitude of small stages.

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Fisher Controls has introduced a technology called WhisperFIo TM trim, which, it is claimed, can reduce the noise level of a vah,e controlling gas (aerodynamic) flow up to 40 dBa. The technology involves multi-stage pressure reduction, reduced acoustical conversion efficiency of each stage, frequency spectrum shift:, exit jet independence, velocity management, and, a complementary body design. The innovative trim design utilizes laser-machined discs that are stacked and permanently fused into a rigid cage assembly. The stack is precision honed to exacting dimensions and is ready tbr immediate use within standard Fisher globe valve designs.

7.3.3 Corrosion In recent years, metal-to-metal seated ball valves have become widespread in severe service applications, where the product effluent may contain harmful solids and harsh corrosives operating at elevated temperatures and high pressures. The corrosion resistance of the valve can be enhanced by a coating that is applied to the ball and seat surfaces. In the past, weld overlays of cobalt-based alloys were used on ball and seat surfaces for critical service applications. New coatings and coating processes have included diffused nitrogen, diffused boron, high velocity oxygen fuel (HVOF) and, more recentl); the high velocity liquid fuel (HVLF) process.

7.3.4 Cleaning When handling food products a particular requirement is a clean, hygienic design that is tree from external cast webs or ledges that would impede wiping. Internally, the valve should be crevice-free and use materials that do not transmit odours or fragments to the food. As an example, PTFE is generally used tbr valve seats in place of nitrile rubbers that would contaminate the food. Plastic valves may give problems where caustic cleaning or other aggressive cleaning is used.

7.4.1 The Pressure Equipment Directive The Pressure Equipment Directive (PED) came into force on 29 November 1999, and became mandatory fi'om 29 May 2002. Pressure equipment with a maximum allowable pressure above 0.5 bar (7.25 psi) including valves - that is sold for use in the European Economic Area must now address PED requirements.

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The PED specifies Essential Safety Requirements (ESR) covering design, manufacture, materials, and, testing. Manut~cturers need to use the services of one or more 'Notified Bodies', appointed by EU member governments, to carry out the procedures for conformity assessment and European approval for materials that enable equipment to be CE-marked to show compliance with the Directive. The PED defines 'pressure equipment' as vessels, piping, safety accessories and pressure accessories. Valves and pressurized fluid actuators (pneumatic and hydraulic) are generally classed as pressure accessories, although some can be defined as safety accessories. Following the procedure stipulated by the PED, a manufacturer can identify the hazard category of a product, and further select the relevant conformity assessment module available, to enable them to demonstrate that the product meets the Essential Safety Requirements of the Directive. Hazards arising from misuse must also be identified and warning given that the equipment must not be used in that way. Adequate operating instructions must be provided to identify the provisions for mounting, putting into service, use and maintenance checks.

7.4.2 ATEX Potentially explosive atmospheres, or ATmospheres EXplosible (ATEX), are found in many areas of industry, from mines and the chemical, oil and gas, and, pharmaceutical industries, to plants handling cereal, animal feed, paper, wood and coal. To protect against these hazards, the European Union (EU) has introduced two complementary directives: ATEX Directive 9 4 / 9 / E C , also known as the ATEX 100 Equipment Directive; and, ATEX Directive 1 9 9 9 / 9 2 / E C , also known as the ATEX 137 Worker Protection Directive. Conformance to both became mandatory in EU countries on 1 July 2003.

These two ATEX directives are applicable to gaseous mines (Group I), as well as non-mining (Group II) installations and equipment. It is also applicable to combustible dust and to flammable gas atmospheres. To qualify for ATEX approval, manufacturers must demonstrate that their products incorporate measures to prevent ignition of unavoidable explosive atmospheres. Declaring contbrmity means that the equipment can bear the community CE mark. A recent 'ATEX Guidelines' report by the VDMA (Verband Deutscher Maschinen- und Anlagenbau) in Germany states: "by far the greater

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majority of mechanical valves are not covered by the Directive since, with the exception of theoretically conceivable specialist vah,es, they do not demonstrate a potential source of ignition". However, electrically operated valves clearly contain a potential ignition source and require design to prevent starting an explosion. As in the case of the PED Directive, if a product is designed for use in explosive atmospheres, the manufacturer must use a European Notified Body tbr testing and certification of it.s product. The ATEX 137 Directive means that, for the first time, employers in enduser industries, as well as manufacturers, will have a legal duty to protect their staff from the dangers of explosive atmospheres.

There is an increasing demand for valve automation and this is one of the major growth areas in the valve industry. End-user industries are looking to increased automation to help deliver a reduction in number of maintenance staff, less downtime and better diagnostics.

7.5.1 Smart Valves Manufacturers are helping users to manage their valve assets by building intelligence into the v a l v e - the 'smart vah,e' concept. Embedded microprocessors in valve positioners provide improved positioning accurac); diagnostics and datalogging facilities, digital communications, and, in some cases, direct control of flowrate or pressure drop. Recently, several major manufacturers have also introduced the functionality to allow users to interrogate their valves from a web browser, across a company intranet or the Intcrnct. Alternatively, Rotork's IQ clectric actuator has an onboard data logger that stores historical information about the operation of the valve and which can communicate via an infrared dataport with a local laptop computer or via a mobile telephone to a personal computer located anywhere in the world. Good diagnostic information also allows plant operators to reduce process variability, increase safety, execute true predictive maintenance, and, to reduce labour costs. The growing use of Real-time Process Optimization (RPO) -improving performance by adjusting the process variables in order to increase profitability and minimize operating costs- is encouraging manufhcturers to invest in information-management valve solutions. Intelligent valves are also being used in Safety Instrumentation Systems.

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7.5.2 Field Bus Control Systems A major milestone in flow control development and technology has been the introduction of field bus control systems that allow digital communication between all of the elements in a process control system. However, various manufacturers have developed their own incompatible bus systems and none have been prepared to standardize on a single bus protocol. After 14 years of negotiation, January 2000 saw the approval of an international field bus standard, IEC 61158, which incorporates eight protocols: ControlNet; Foundation Fieldbus H-l; Foundation Fieldbus HSE (High Speed Ethernet) H-2; Interbus-S; P-Net; Profibus DP, PA and FMS; SwiftNet; and, World FIP. Profibus and Foundation Fieldbus are the mostly widely used bus protocols, although HART enjoys a good deal of support, with, it is claimed, 60% of all transmitters shipped with HART. The differences in the buses are in the speed of throughput, control algorithms at the device level and, in the higher layer of the protocol stack, in the vendor specific software blocks that allow for advanced diagnostics. Several actuator manufacturers have developed proprietary networks specifically to monitor and control valve actuators. These proprietary protocols and networks typically include modifications of an open protocol to overcome specific limitations and to develop a system better suited for actuator control. There has recently been an increasing use of buses based on Ethernet. These include: EtherNet/IP (from DeviceNet and ControlNet); Foundation Fieldbus (HSE); Interbus on Ethernet; Interfhce for Distributed Automation (IDA); Modbus/TCP; and, ProfiNet (from Profibus). 7.5.3 Actuators Control valve actuators fall into two main types: those used to operate valves solely in an open-close (on-off) mode; and, those used to operate valves in a continuous throttling (or modulating) mode. Within these t3vo groups, a variety of actuator designs are used depending on whether the valve is a sliding stem type or a rotary stem type. Their operation can be vacuum, pneumatic, electrical or hydraulic, but the most common actuator is pneumatically powered. Users have been reluctant to adopt electric actuators because of concerns about their reliability in emergency situations, when the electric power may fail. Many users do not consider either local battery backup, or a

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spring-operated emergency closing mechanism, to be reliable enough. To address these fears, alternative options have been developed, for example, one butterfly valve and actuator package uses a cylinder of compressed nitrogen to close the vah,e in an emergency. Worcester Controls has developed the 72 Series Electri-Safe actuator, in which the clockspring is an integral part of the actuator mechanism instead of being a bolt-on extra. This means that if the vah,c opens and closes properly in normal operation, the spring is working. More recently, Worcester has developed the Electri-Safe+, which uses a patented electrohydraulic unit with a maintenance-fi'ec, no reservoir hydraulic system.

7.5.4 Control Valve Platforms There exists today many valve types adaptable tbr control service, including globe, ball, butterfly, plug, gate, pinch, diaphragm and the more specialized eccentric segmented ball design. Within the area of control valves, most of the developments have taken place with the internal components, such as the trim. This may well be of the cage type with retained seat, instead of contoured plugs with threaded seats. Developments in control valves continue to be driven by a demand fbr higher operating temperatures and pressures within the chemical, oil and power industries. Transcontinental pipelines, North Sea oil and gas platforms, and, under-sea modules have all been important driving forces. These new plants require vah,es capable of controlling fluids in the gas or liquid phases and in multi-phases with pressure reduction of 8500 kPa.

Composite valves were introduced more than twenty years ago and since then have demonstrated their inherent strength and corrosion resistance. This, coupled with weight and cost savings, has shown that composite valves can outpertbrm metal valves in many applications. Materials used in non-metallic vah,es include: 9 9

9

112

Vinyl ester thermoset resins reinforced with either glass or carbon fibre; Thermoplastic polysulphone reinforced with glass or carbon fibre, which has been used in the paper and pulp industry with bleach solutions; Thermoplastic polyphenylene sulphide (PPS) reinforced with glass or carbon fibre. With glass fibre reinforcement, PPS is suitable for use with hydrogen sulphide, oleic acid and sulphuric acid. When

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Valve Technology

reinforced with carbon fibre, P PS can be used with high concentrations of sulphuric acid. The commonest valve types for which composite materials are used are ball and butterfly designs. Although the body and flanges are usually thicker than those of their equivalent metal valves, composite valves are typically only one-third of their weight. However, while the penetration of composite valves has increased in recent years, there is still a strong resistance to non-metallic valves, with specifiers continuing to prefer valves manufactured from conventional materials such as carbon steel and stainless steel. Valves must operate in many different environments, including the most severe, and thus the same valve type may be obtained in a range of difli:rent materials. The most frequently used materials include cast iron, bronze, nickel alloys, copper alloys, steel (including stainless steel), with the use of aluminium, Hastelloy and titanium for specialist operations. Various alloy steels are used in cryogenic situations with carbon or alloy steels fbr temperatures down to-300~ Although iron and steel castings are being widely imported from low-cost manufacturing areas, steel forgings are still made in the developed world to meet the required quality control standards. Metallic materials will continue to be the material of choice for valves, partly for operational reasons and partly due to industry conservatism. Plastic bodied valves will not take high pressure or the caustic cleaning that is found in areas such as the food industry. However, there is increased use of plastic valves in suitable areas and there will be a move towards polymer linings that resist abrasion or action by aggressive fluids. PTFE, fluorothermoplastics and fluoroelastomers, which can withstand temperature extremes f r o m - 2 0 0 ~ up to 260~ are increasingly being used for coatings, linings and valve c o m p o n e n t s , such as ball valve seats,

valve bodies and diaphragms. Among other liner materials, ethylene chlorotrifluoroethyle has good resistance to abrasion and corrosion and has been found to be superior to PTFE for some applications that have a non-stick requirement (such as glues, paper and pulp) and for electro-galvanising processes that would develop scale. The polyimides have been used as ball valve seats and for valve stem seal/thrust bearings. Products include Vespel from DuPont, which can be used where high temperature conditions would make PTFE unsuitable. PEEK is used as a bearing in rotary valves and also as an antiextrusion ring with spring-assisted PTFE seals. Materials such as unplasticized polyvinyl chloride (UPVC), acrylonitrile butadiene styrene

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Valve Technology

(ABS), polypropylene and polyethylene have proved satisfhctory in handling weak acids and some corrosive liquids. Plastic valves are used for low pressure applications, but plastic lined steel valves will continue be used for higher pressure applications. One problem for polymer, or other, coatings is that they can crack or pull away from the metal backing during temperature cycling. This can then leave pockets for gas or liquids to collect in, leading to corrosion of the metal. Highly corrosive fluids or those that chemically react with metals, require ebonite, plastics, glass or ceramic valves. Upgrading of materials will increasingly be undertaken by coating and plating a base material. These materials will find applications in such areas as wear protection, corrosion resistance and thermal barriers. In severe environments, the proper use of coating and plating can translate into considerable cost savings. Standard materials for wear and abrasion applications, such as Stellite 6 and the Triballoy T range of materials from Stoody Deloro Stellite, will continue to be widely used. Non-cobalt alternatives have been developed for applications such as nuclear power plants, where the cobalt can be transmuted into the radioactive fbrm. In sof~ seats fbr commodity valves, nitrile rubber will continue as a major material. In engineered valves, or those that must operate in extreme conditions, PTFE is already widely used with engineering plastics such as PEEK fbr higher temperatures, polychlorotrifluoroethylene (PCTFE) for lower temperatures and nylon for higher pressures. Changes in material can result in valve types finding use in applications fbr which they were not previously considered suitable. For example, the traditional knif~ gate valve has historically not been trusted in an applications such as the pulp and paper industry where flowing material in the liquor application can build up on valve parts - resulting in the use of ball, butterfly or plug valves. With anti-stick polymers resisting scale deposition, however, a cheaper knife gate valve can now be used in this application.

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Top 10 Valve Manufacturers

The following table, Table 8.1, presents the estimated valve sales figures for 2003, for the world's ten largest valve manufacturers. It includes product sales and revenues from service, maintenance and repair.

Table 8.1 World's ,Top ! 0 Valve Manufacturers in 2003 Company Tyco Flow Control Emerson Process Management Flowserve Flow Control Division Dresser Kitz Crane Valve Cooper Cameron Valve KSB Metso Automation Circor International

Estimated Valve Sales (US$ million) 1910 984 881 795 522 422 307 300 300 290

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Profiles of Leading Valve Manufacturers

Kempener Strasse 18 D-47918 T6nisvorst

Germany Tel: +49 2156 7709 0 Fax: +49 2156 7709 50 Web: www.arca-valve.com

Originally formed in 1917, the present Arca Regler GmbH was refounded in T6nisvorst, near Dusseldorf, in 1949. In 1970, a second factory was founded in Daun, near the Mosel River and in 1979 the management was taken over by Dr R Kaspers. Arca Regler specializes in control valves and associated pneumatic and electro-pneumatic actuators, including the recently introduced second-generation intelligent positioners. In 1994, Arca acquired yon Rohr Armaturen AG, based at Muttenz, Switzerland. Since 1954, Von Rohr has specialized in producing control valves, including diaphragm, rotary plug, butterfly and sterile control valves, and pneumatic and electric actuators. Arca has complemented its vah,e activities with the acquisition of the pump manufacturer Feluwa Pumpen GmbH in 2000 and level measuring instrumentation specialist WEKA AG in 2001. Joint venture companies have been established in several countries, notably: India (1985), Arca Controls Ltd, with Forbes Marshall Pvt Ltd; Korea (1987), Sam Yang Arca Co Ltd, with Sam Yang Comprehensive Valve Co Ltd; China (1995), Wuzhong Instrument Co Ltd, with Xuzhou Chemical Machinery Works; and, Mexico (1998), Arca Valvulas SA de CV. In addition, Arca made several marketing and licensing agreements in 2002: 9 9

TOA Valve Co Ltd, to cooperate in sales and service in the Japanese market; License and marketing agreement for ECOTROL control valves with Wuzhong Instrument Co Ltd for all provinces of China;

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o

Agreement with Metso Automation for international sales and service of linear control valves.

The ARCA Flow Group now employs 350 people and had valve sales in 2003 of US$55 million.

9.2 A r i - A r m a t u r e n Mergelheide 56-60 D-33758 Schloss HolteStukenbrock Germany Tel: +49 5207 994 0 Fax: +49 5207 994 297 Web: www.ariarmaturen.com

Albert Richter GmbH

& Co KG

Based in Schloss Holte-Stukenbrock, near Bielefeld, the company was established in 1952 fi'om Albert Richter Co, part of the privately-owned Brechmann Group. Initially, Ari only made stop valves fbr shipbuilding and mining. Later, in the 1950s, heating system valves were introduced, while the 1960s saw the development of control valves with pneumatic and electric actuators. In 1969, a second production facility was established in Homberg/Efze, near Kassel. In 1999, Ari acquired AWH Armaturenwerk Halle/Saale, in Eastern Germany, a manufacturer of steam traps. Production at its three plants has been split into 'fractals', with each of these 'companies within companies' dealing with only one product group - from design and development through sourcing and production to logistics. Ari has established sales subsidiaries in Austria, China, Denmark, Malaysia, Singapore, UK and USA. The Group, with more than 600 employees, had sales in 2003 of E90 million. The product range now includes manual shut-off valves, butterfly valves, control valves (with actuators), safety valves, steam traps and pressure reducing valves, together with pipeline ancillary products (check valves, strainers, separators and flash vessels) and a full range of boiler house ancillary equipment. The group's main market focus is industrial fluid processes, the chemical industry, marine applications, HVAC (Heating, Ventilation & Air Conditioning), and, original equipment manufacturers (OEMs).

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Postfach 1362 D-79373 Miillheim

Germany Tel: +49 7631 809 0 Fax: +49 7631 809 250 Web: www.auma.com

Profiles of Leading Valve Manufacturers

Since its foundation in 1964, Auma has grown to become a leading manufacturer of electric actuators. The company has established nearly 20 subsidiaries outside Germany, employing around 1100 people worldwide and with sales in 2003 of E148 million. In March 2004, Auma opened a third manufacturing plant at its Miillheim headquarters, almost doubling its size to more than 14 000m 2. An additional plant at Ostfildern manufactures part-turn actuators and servo motors. Service centres have been established at K61n, Magdeburg and Garching-Hochbrtick (Bayern). In October 1999, Auma acquired the electric actuator division of Siemens AG. The company now operates as a wholly owned subsidiary under the name of SIPOS Aktorik GmbH, based in N~irnberg. The SIPOS product line is specifically designed for the electric power generation market. The company has established manufacturing plants at Pittsburgh, Pennsylvania, USA, and Bangalore, India, with other subsidiary companies providing assembly facilities to serve their own national markets. Auma has developed a wide modular product range with electric muhiturn (10 Nm up to 32 000 Nm), part-turn (up to 360 000 Nm) and linear (up to 217 kN) actuators as well as gearboxes for manually operated valves. Actuator controls with integral local controls are available, with a variety of field bus interfaces.

9.4 B o n o m i Group Via Industriale 30 25065 Lumezzane(BS) Italy Tel: +39 030 8250011 Fax: +39 030 8920465 Web: www.bonomi.it

The Bonomi Group of companies is one of Italy's leading manufacturers of industrial valves and actuators. The Group comprises three main companies" Rubinetterie Bresciane Bonomi SpA (RB); Valbia srl; and Valpres srl. RB, originally formed in 1901, now specializes in brass and cast iron ball valves, gas taps, butterfly valves, check valves and pressure reduction valves. The company employs around 170 people and had sales in 2002 of E35 million. Valbia, employing around 25 people and with sales in 2002 of E7.5 million, produces a range of pneumatic and electric actuators and accessories.

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Valpres, employing around 80 people and with sales in 2002 of E IO.5 million, produces stainless steel ball valves and carbon cast iron butterfly valves. Also part of the Group is Univers srl, which provides brass stampings and components. During recent years Bonomi has established subsidiaries in: Limburg ad Lahn, Germany (1998); Nuneaton, UK (1999); Tamilnadu, India (2000), which also includes a production facility; Barcelona, Spain (2002); Rock Hill, South Carolina, USA (2003); and Oakville, Canada (2004).

CarI-Reuther-Strasse 1 D-68305 Mannheim Germany Tel: +49 621 749 0 Fax: +49 621 749 1360 Web: www. boppureuther.com

The original Bopp & Reuther company was established in 1872 to produce pumps and heavy-duty valves. Together with six well-known valve producing companies, Bopp & Reuther established a sales organization, Vereinigte Armaturen Gesellschaft mbH (VAG). In 1990, Bopp & Reuther was acquired by the publicly quoted IWKA AG. IWKA now consists of around 100 consolidated mid-sized companies operating in fbur a r e a s - Production Technology, Manuthcturing Technology, Process Technology and Packaging Technology- with group sales in 2003 ofs billion (US$2.59 billion). The Bopp & Rcuther group of companies, which operates within IWKA's Process Technology Division, had sales in 2003 of E125.9 million- down from E139.6 million in 2002. Four valve companies accounted for about 70% of those sales, with the other companies in the group being involved mainly in flow measurement. IWKA has announced that its medium-term plan is to withdraw from the process technology business and to concentrate in future on three growth markets: robotics, automotive and packaging technologies. ()n 1 July 2004 the flow measurement companies within the Bopp & Reuther Group were sold to their respective managements. The future of the valve activities remains to be decided. At the time of producing the report, the main valve companies within the group were:

VAG-Armaturen GmbH Based in Mannheim, Germany, VAG-Armaturen is a major supplier of gate and butterfly valves to the water and wastewater industries. In addition, the company produces ball valves, check valves, pressure and flow regulators, control vah,es and actuators for the flow of liquids and gases for the oil, gas, and, pulp and paper industries. Tile company has announced plans to build a factory in China. 120

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Profiles of Leading Valve Manufacturers ,,

,

. . . . .

Bopp & Reuther Sicherheits-und-Regelarmaturen GmbH Also based in Mannheim, Bopp & Reuther Sicherheits-undRegelarmaturen specializes in safety valves for the process industries and valves for power plant applications, including steam conditioning control valves, safety valves and high pressure gate valves. The company has recently expanded its international marketing presence by establishing representation in Russia, South East Asia and China.

CH Zikesch Armaturentechnik GmbH Acquired by Bopp & Reuther in 1995, CH Zikesch, based in Essen, Germany, specializes in high-pressure valves for conventional and nuclear power plants and also chemical and petrochemical industries. Products include high-pressure stop valves, swing check valves and control valves.

Jihomoravskfi Armaturkfi spol sro (JMA) JMA, which has grown from a pipe fittings company established in 1881, is based in Hodonin in the Czech Republic. The company was acquired by Bopp & Reuther in 1996 and has operated since 2001 as a subsidiary of VAG-Armaturen GmbH. Products now manufactured include gate valves, butterfly valves, ball valves, check valves, sluice gates, plunger valves, nozzle valves, air valves, hydrants and strainers.

Key Figures (1~ million)

IWKA AG Year ended 31 December

Group Sales Of Which: Process Technology Of Which: Bopp & Reuther Group Earnings/(Loss) before Interest Taxes Amortization (EBITA) Of Which: Process Technology

2003

2002

2001

2287

2312

2290

336.1

356.3

348.1

125.9

139.6

130.5

101.5

91.6

86.9

2.2

(4.9)

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35 Corporate Drive Suite 290 Burlington MA 01803 USA Tel: +1 781 270 1200 Fax: +1 781 270 1299 Web: www.circor.com

Circor International Inc was established in 1999 by its former parent., Watts Industries Inc, to continue to operate the former instrumentation, fluid regulation and petrochemical valve businesses of Watts. Since October 1999, the company's shares have been publicly traded on the New York Stock Exchange (NYSE). Circor has grown considerably during the past 20 years through a number of acquisitions- 31 since 1 9 8 4 - and now employs around 2000 people worldwide. It had sales in 2003 of US$359.5 million, an 8.5% increase from 2002. The company operates 15 manufacturing facilities, located in the USA (9), Canada, the Netherlands, Italy, Germany, France and China. The Chinese operation is Suzhou KF Valve Co, a 60% owned joint venture with Suzhou Valve Co Ltd. The joint venture, which was established in 1995, manufactures carbon and stainless steel ball valves for both companies. Circor operates with two major product groups: the Instrumentation and Thermal Fluid Controls Products Group, which accounted fbr around 56% of sales in 2003; and, the Petrochemical Products Group. The Instrumentation and Thermal Fluid Controls Products Group manufactures valves, fittings and controls for end-uses including instrumentation, aerospace, cryogenic and steam applications. Products include precision valves, compression tube and pipefitting, control valves, relief valves, couplers, regulators and strainers. These products are sold under the brand names" 9 Aerodyne Controls 9 Atkomatic Valve 9 Circle Seal Controls 9 CPC-Cryolab 9 Dopak 9 GO Regulator 9 Hoke 9 Leslie Controls 9 Nicholson Steam Trap 9 Rockwood Swendeman 9 RTK 9 SART yon Rohr 9 Spence Engineering 9 SSI Equipment 9 Texas Sampling

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9 9

Profiles of Leading Valve Manufacturers

Tomco Products US Para Plate.

The company is particularly strong in the steam application market through Leslie Controls, Spence Engineering and SSI Equipment. The Petrochemical Products Group manufactures flanged-end and threaded-end floating and trunnion ball valves, needle valves, check valves, butterfly valves, large fbrged steel ball valves, gate valves and pipeline closures for use in oil, gas and chemical processing and industrial applications. These products are sold under the brand names: 9 9 9 9 9

KF Industries KF Contromatics KF Telford Pibiviesse Suzhou KF Valve.

The Group is very dependent on the oil and gas industry, which accounted for 44% of sales in 2003. Other important markets include applications in the process and power, commercial and military aerospace, HVAC, chemical processing and maritime industries. % o f Sales

2002

Oil & Gas Exploration & Production Process & Power Oil & Gas Distribution & Refining Commercial & Military Aerospace HVAC Chemical Processing Maritime Pharmaceutical, Medical and Analytical Instrumentation

2003

27 23 16 8 8 8 5 5

33 23 11 8 7 8 5 5

In April 2004, Circor announced that it had acquired Mallard Control Co Inc fbr around US$14 million. Mallard, which had sales in 2003 of US$12 million and is headquartered in Beaumont, Texas, produces control valves, relief valves, pressure regulators and other related products, primarily for oil and gas production and processing and other petrochemical applications, under the Mallard and Hydroseal brand names. Circor has reported that its sales for the six months to 27 June 2004 increased by around 5% compared to the same period in 2003.

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Key Figures (US$ million)

Circor International Inc Year ended 31 December

Revenues Of Which: Instrumentation & Thermal Fluid Controls Petrochemical Operating Income Of Which: Instrumentation & Thermal Fluid Controls Petrochemical Revenues by Geographic Area USA Canada Germany France Netherlands Other

PO Box 247 Matthews NC 28106 USA Tel: +1 704 841 6000 Fax: +1 704 841 6020 Web: www.conbraco.com

2003

2002

2001

359.5

331.4

343.1

200.8 158.7 30.0

190.5 140.9 30.4

193.3 149.8 33.6

22.2 15.2

28.6 9.5

32.2 9.2

185.7 30.2 20.1 9.1 11.3 103.1

182.1 25.9 17.2 10.6 11.9 83.7

226.1 32.5 11.7 9.4 5.7 57.7

Conbraco Industries was formed in 1928, following the merger of American Lubricator and Brass Co and Sterling & Skinner Manufacturing Co. The company has grown to become a leading manuthcturer of cast steel and bronze valves for industrial and commercial uses, employing more than 1000 people and with sales in 2003 of around US$165 million.

In addition to its headquarters and assembly plant at Matthews, North Carolina, USA, Conbraco has a steel foundry and manufacturing plant in Conway, South Carolina, USA, and a bronze tbundry and manufacturing plant as well as a final assembly and distribution centre in Pageland, South Carolina. The company has also established a fhcility in Concord, Ontario, to serve the Canadian market and has recently opened a Western US distribution centre in Reno, Nevada, and a large European Operations Centre in Manchester, UK, was opened in 2000. Recent investment in the Manchester fhcility has expanded the stock holding capability to 580 m 2. Conbraco's investment in manufacturing, quality control and distribution has exceeded US$100 million in the past ten years.

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Profiles of Leading Valve Manufacturers ,

,

,

In February 2004, Conbraco sold its R P & C forged steel valve division (gate, globe and check valves and strainers) to Bonney Forge Corp of Mt Union, Pennsylvania, USA. Conbraco's line of products now includes Apollo ball valves (including the 70 series first launched in 1968); butterfly valves; gate, globe and check valves; safety and relief valves; air and gas cocks; mixing valves; backflow prevention devices; water gauges; pipeline strainers; and, pneumatic and electric actuators.

1333 West Loop South Suite 1700 Houston

TX 77027 USA Tel: +1 713 513 3300 Fax: +1 713 513 3355 Web: www.

coopercameron.com

STOP PRESS On 24 September 2004, Cooper Cameron Corp announced that it had agreed to purchase certain businesses of Precision Castparts Cow's PCC Flow Technologies segment, including the General Valve, Sterom, TBV, Techno, AOP and PCC Ball Valves product lines. Cooper Cameron Corp, which was spun-off from Cooper Industries Inc in 1995, is a leading international manufacturer of oil and gas pressure control equipment, including valves, wellheads, controls, chokes, blowout preventers and assembled systems for oil and gas drilling, production and transmission used in onshore, offshore and subsea applications. The company is also a leading manufacturer of centrifugal air compressors, integral and separable gas compressors, and, turbochargers. The company, which had sales in 2003 of US$1.63 billion, an increase of 6.3% compared with 2002, operates with three separate business units" Cameron, Cooper Cameron Valves (CCV) and Cooper Compression. CCV manufactures gate valves, ball valves, butterfly valves, rotary process valves, block and bleed valves, plug valves, globe valves, check valves, actuators, chokes and aftermarket parts and services. These products are marketed under the brand names Cameron, W-K-M, Orbit, Demco, Foster, NAVCO, Nutron, Thornhill Craver and TruSeal. Customers include oil and gas companies, engineering and construction companies, pipeline operators, drilling contractors and major chemical, petrochemical and refining companies. A major area for CCV's sales is to the North American natural gas market. CCV's principal acquisitions include" Orbit Valve International Inc in 1998 for US$104 million in cash and debt; the Houston, Texas-based Valve Sales Inc, a valve repair and manufacturing company, in 2000; and, Nutron, a Canadian valve manufacturer was acquired in December 2002 to further expand CCV's product lines, particularly in Canada. Profile of the International Valve Industry

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CCV has tbur US manufacturing plants (Little Rock, Arkansas; Missouri City, Texas; Oklahoma City, Oklahoma; Ville Platte, Louisiana), as well as one in Beziers, France, and one in Edmonton, Canada. In late 2002, CCV was reorganized into three business s e g m e n t s Distributed Products, Engineered Products, and, Af~ermarket Services. CCV's sales in 2003 increased by more than 12% to US$307.0 million, largely as a result of the Nutron acquisition. A major focus in 2003 in the Distributed Products business was the rationalization of fhcilities and their related costs. These effbrts included the restructuring of the Oklahoma City plant and the consolidation of CCV's four facilities in Edmonton, Canada, into one location. CCV has also continued to pursue fbreign sourcing initiatives. Another area of fbcus in 2003 was the expansion of its Aftermarket Services business. Six new facilities were added during 2003, including four outside the USA, while three existing facilities were expanded. CCV now has a total of 15 af~ermarket locations worldwide. Recent valve developments include the development of a range of 2-inch to 16-inch ball valves capable of performing at pressures of 69 000 kPa (10 000 psi) and in water depths of 3050 m. CCV has reported that sales in the first six months of 2004 increased by 10% compared to the same period in 2003. The Cameron Division, with sales in 2003 of US$1018.5 million, is one of the world's leading providers of systems and equipment used to control pressure and direct flows of oil and gas wells. Within the Division, the Cameron Willis business unit was formed to focus resources on chokes (a type of valve used to control the rate and pressure of the flow of production fi'om a well or through flow lines). Cameron Willis manufactures Cameron and Willis brand chokes and Cameron brand actuators for the surface and subsea production markets. Such products are key components in the surface and subsea Christmas trees provided by Cameron and other tree manufacturers. The company's primary choke manufacturing operations have been consolidated into its Longford, Ireland, facility. Surface gate valve actuator manufacturing is primarily performed at the Cameron Willis plant in Houston, Texas, USA, which commenced operations in an expanded facility in March 2002. This facility has improved Cameron Willis's capacity for worldwide supply of surface actuators. Improved manufacturing efficiency and on-time delivery has essentially eliminated the need tbr Cameron to use third-party actuator manuthcturers and reduced lead times for delivery of surface Christmas trees. Cameron Willis has now become the primary actuator manufacturer for all of Cameron's surface, subsea and drilling applications.

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Key Figures (US$ million)

Cooper Cameron Corp Year ended 31 December

Revenues Of Which: Cameron CCV Cooper Compression EBITDA Of Which: Cameron CCV Cooper Compression

100 First Stamford Place Stamford CT 06902 USA Tel: +1 203 363 7300 Fax: +1 203 363 7297 Web: www.craneco.com

2003

2002

2001

1634.3

1538.1

1562.9

1018.5 307.0 308.8 164.1

918.7 273.5 345.9 162.5

897.5 292.3 373.1 230.5

114.6 46.4 27.5

122.3 47.4 10.7

171.9 52.5 20.5

Crane Co is a diversified manufacturer of highly engineered products with five business segments: Aerospace & Electronics, Engineered Materials, Merchandising Systems, Fluid Handling and Controls. Sales in 2003 amounted to US$1.64 billion. Fluid Handling, the largest of Crane's business segments- 46% of sales in 2 0 0 3 - comprises the Valve Group, Crane Ltd, Crane Supply, Crane Pumps & Systems, Resistoflex-Industrial, and, Crane Environmental. During 2003, Crane focused on 'right-sizing' its Fluid Handling business to address the weak demand throughout most of its end markets and to improve manufacturing efficiency and capital utilization. These initiatives resulted in the closure of three plants and three service centres, at an approximate cost of US$18 million. This resulted in a reduction in staff of approximately 370 people, about 10% of the US and Western European workforce, primarily in the Valve Group. In June 2003, Crane purchased a number of pipe coupling and fittings businesses from the French-based Etex Group SA. These businesses provide pipe jointing and repair solutions to the water, gas and industrial markets worldwide. The businesses have been integrated into Crane Ltd, a leading provider of pipe fittings, valves and related products to the building services, principally HVAC, and industrial markets in Europe. As a result, Crane Ltd, with sales in 2003 of around US$72 million (including US$31 million from the acquisition), was separated from the Valve Group and now operates as a separate unit within the Fluid Handling segment. Crane Ltd's products include gate, globe, check, ball and butterfly valves and static and automatic balancing valves. The Profile of the International Valve Industry

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company has facilities at Ipswich, UK, and China. In January 2004, Crane Ltd purchased the Hattersley valve brand and business, together with certain related intellectual property, goodwill and assets fi'om Hattersley Newman Hender Ltd, a subsidiary ofTomkins plc. Crane Valves, the largest of the Fluid Handling business segments, had sales in 2003 of US$422 million. Although a valve manufacturer since 1855, it was the acquisitions of Alfa Laval's Industrial Flow Group and the Xomox valve business in 2001 that made Crane Valves one of the largest valve manufacturers in the world. Crane is currently in the process of transitioning from seven separate valve companies to a single, integrated operating company. The seven valve businesses are" 9 9 9 9 9 9 9

Crane Valves North America Xomox PacificValves Crane Australia Crane Valve Services Crane Process Flow Technologies Westad Industri AS.

With the establishment of a single global company, the worldwide sales force will be able to increase sales of complementary products previously sold exclusively by the individual sales forces. The single company will facilitate integrated procurement activities to leverage volume with suppliers. The company plans to increase procurement of materials from low-cost countries (the target is fbr the Fluid Handling Group to increase this from 30% in 2003 to 40% in 2004). Crane Valve also plans to increase the use of low-cost production facilities in China, India, Mexico and Hungary to lower the overall cost base for the business. The businesses being combined are reviewed separately below. Crane Valves North America is based on the original valve business, and through a variety of acquisitions, its product line had been expanded and now includes many brand names, including Aloyco, Crane, Stockham, Jenkins, Flowseal, Flowseal MS, Center Line, Duo-Chek II, Marlin and Uni-Chek II. The group manufactures commercial valves- bronze, iron, steel and stainless steel ball, butterfly, gate, globe and check valvestraditionally sold fbr general services into commercial construction (HVAC), chemical refining, petroleum refining, power generation, and, pulp and paper industries, as well as engineered valves fbr the same market sectors. It has four US-based facilities (Culman, Alabama; Washington, Iowa; St. Louis, Missouri; and, Conroe, Texas, as well as two plants in China (Ningjin and Nantong) and one in Brentford, Canada.

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Xomox, acquired from Emerson Electric in 2001, is a world leader in the design and manufacture of quarter-turn on/off process valves in alloy and fluorocarbon lined materials. Valve types include plug, butterfly, check, ball and diaphragm. Facilities are based in: Cincinnati, Ohio, USA; Chichuaha, Mexico; Lindau, Germany; Chennai, India; and, Szekesfehervar, Hungary.

The Pacific Vah,es brand is a specialized group of products for specific industrial markets. Included are: pressure seal, forged steel and low pressure cast carbon and alloy steel valves for the power generation market; gate, globe, check and sleeve-lined plug valves for the HF acid alkylation units used within the petroleum refining process; and, nonlubricated wedge plug valves for difficult, high temperature process applications. Crane Australia, with facilities in Sydney and Melbourne, provides gate, globe and check valves to the process industries in the Pacific Rim, focusing particularly on the hydrocarbon, chemical and mining industries. Crane Valve Services offers a broad range of valve product and service solutions for highly demanding and dynamic environments. In particular, Crane Nuclear Inc offers valve products and services to the nuclear power industry worldwide. Crane Valve Services provides on-site and in-shop valve repair service solutions to a broad range of industries. Crane Process Flow Technologies was formed in 2001 following the acquisition of Alfa Laval's Industrial Flow Group. This provided Crane with valves, actuators, pumps and related flow components with the Saunders range of industrial and aseptic diaphragm valves, Saunders check valves, Saunders linear actuators, Centerline and Flowseal butterfly valves, REVO actuators and DEPA and ELRO pumps. Production facilities are based in Cwmbran, UK; Belfast, UK; Dusseldorf, Germany; and Satara, India.

The Norwegian-based Westad Industri A / S has been a leading supplier of valves and related systems for marine cargo and ballast systems. Applications include tankers for liquefied petroleum gas (LPG), liquefied natural gas (LNG), chemicals, petroleum products and crude oil. Besides serving the marine markets, Westad provides high-alloy valves for oil and gas offshore applications and cryogenic valves for land-based installations. In total, the Valve Group now employs around 3000 people, with 18 manufacturing plants in 11 countries and sales offices in 23 countries. Crane has announced that sales of the Valve Group in the first six months of 2004 increased by 6.7% compared to the same period in 2003, largely due to favourable foreign currency translations.

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Key Figures (US$ million)

Crane Co Year ended 31 December

Net Sales Of Which: Fluid Handling Of Which: Valve Group Operating Profit Of Which: Fluid Handling

2003

2002

2001

1636.0

1516.3

1587.2

748.3

715.8

630.9

422.3 169.0

422 e 155.01

340 e 171.7

43.5

53.7

49.0

e Estimated 1 Beforeasbestos charge of US$115.3 million

4 Becker Farm Road Roseland NJ 07068 USA Tel: +1 973 597 4700 Fax: +1 973 597 4799 Web: www.curtisswrig ht.com

Curtiss-Wright Flow Control Corp 1966E Broadhollow Road E Farmington NY 11735 USA Tel: + 1 516 293 3800 Fax: +1 516 293 3404 Web: www.cwfc.com

Curtiss-Wright Corp is a diversified, international enterprise delivering highly engineered, technologically advanced, value-added products and services to a broad range of industries in the motion control, flow control and metal treatment markets. Revenues in 2003 anaounted to US$746.1 million, of which US$341.3 million were in its Flow Control business segment, now the biggest segment in the group. Curtiss Wright Flow Control (CWFC) began with the acquisition of Target Rock in 1961, a company specializing in the design and manufacture of highly engineered valves and related products for nuclear powered naval vessels. CWFC continues to support naval and marine markets with sophisticated valves and components. Target Rock valves are installed on every nuclear submarine and aircraft carrier commissioned by the US Navy. In 1967 Target Rock received its first order for valves for a commercial nuclear power plant.

CWFC has expanded its product offerings during recent years through acquisitions to expand its offerings in the naval propulsion and commercial nuclear power markets, as well as expanding into new markets. In 1998, CWFC acquired Enertech to improve its distribution capabilities to the nuclear industry, as well as to expand the breadth of its product line. In 1999, through the acquisition of Farris Engineering, a manufacturer of pressure-relief valves, CWFC expanded into the oil and gas, and, general processing industries worldwide. In 2001, CWFC acquired the UK-based Solent & Pratt Ltd, a manufacturer of high pcrfbrmancc butterfly vah,es, and Deltavah,e USA

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9 Profiles of Leading Valve Manufacturers

LLC, a specialist valve manufacturer for high pressure, extreme temperature and corrosive plant environments. Late in 2002, Tapco International Inc, a manufacturer of high performance gate valves, butterfly valves and flapper valves, actuators, and related components, was acquired, as well as the Electro Mechanical Division (EMD) of Westinghouse Government Services Co LLC. EMD is a designer and manufacturer of highly engineered critical function electro-mechanical solutions tbr the US Navy, commercial nuclear power utilities, petrochemical and hazardous waste industries. These acquisitions have resulted in CWFC's revenues increasing from US$38 million in 1998 to US$341 million in 2003. CWFC now comprises nine business units and employs 1660 people worldwide. CWFC sales in the first six months of 2004 were reported to be down by 1.9% compared to the same period in 2003. This was due mainly to the completion in 2003 of two large projects, which did not reoccur in 2004, although this was slightly offset by favourable foreign currency translations. In July 2004, Curtiss-Wright acquired Groth Equipment Corp for US$4.6 million. Groth, with sales in 2003 of US$10 million and 63 employees, is a manufacturers' representative for rupture discs, conservation vents, fire and gas detectors and pressure relief valves, including Farris Engineering's pressure relief valves. It also provides field and in-shop service and repairs for pressure relief valves and a variety of speciality valves. The acquisition is part of the company's long-term strategy of strengthening CWFC's operations in the US's Gulf Coast region and expanding its portfolio of highly engineered products and services for the process industries. This move towards diversification is already evident. In 1999 power generation accounted for 61% of its sales, with defence/navy applications responsible tbr the remaining 39%. In 2003, power generation accounted for

19% o f sales, defiznce/navy

58%, process

industries

21% and

automotive applications 2%. CWFC claims to be one of the world's leading manufacturers of pressurerelief valves used to prevent over-pressurization of vessels, pipelines and other critical industrial equipment and is also a major manufacturer of gate, ball and triple offset butterfly valves for severe service applications. A recent technological development has been the introduction of the DehaGuard coker valve, that the company claims vastly improves the process for the unloading of coke, a by-product of the crude oil refining process.

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Key Figures (US$ million)

Curtiss-Wright Corp Year ended 31 December

2003

Revenues Of Which: Flow Control Operating Income Of Which: Flow Control

DK-6430 Nordberg Denmark Tel: +45 7488 22 22 Fax: +45 7449 09 49 Web: www.danfoss.com Danfoss Water Controls 365 rue du Lieutenant Putier F-71530 Virey-le-Grand France Tel: +33 3 85 97 42 00 Fax: +33 3 8541 49 31 Web: www.watervalves.com

2002

2001

746.1

513.3

343.2

341.3 89.3

172.5 69.0

98.3 58.2

40.0

20.7

10.7

Danfoss is Denmark's largest industrial group with a 2003 turnover of q.2077 million (US$2346 million) and about 17 500 employees. It operates with three core businesses" Refrigeration & Air Conditioning; Motion Controls; and, Heating & Water. The Heating & Water business segment, with sales in 2003 of ~494 million (US$558 million), has five divisions: Residential & Commercial Comtbrt Controls; District Heating Controls; Burner Components; Floor Heating; and, Water Controls. The Water Controls Division combines the activities of Danfoss Socla (including Oreg) in France, Danfoss Esco in Norway and Flomatic Corp in the USA. On 1 April 2003, the Division acquired the French company Desbordes, with 76 employees. The division now employs 600 people worldwide and had sales in 2003 of around C80 million (US$90 million). During 2002, the Water Controls Division completed the reorganization of its French activities, with new facilities in Virey-le-Grand and IverySavoy replacing the five former facilities operated by Danfoss Socla and Oreg. 2002 also saw tile introduction of a number of new products, including compact check valves fbr water meters, a unique range of angle-bodied swing check valves for sewage applications, dedicated butterfly vah'es for pharmaceutical applications and larger double-flanged butterfly valves fbr the water industry. A new high-perfbrmance butterfly valve was introduced at the beginning of 2004. The acquisition of Desbordes, based in Villeurbanne, strengthened the Danfoss Socla product range, with the Desbordes pressure reduccrs complementing the Socla check valves and backflow preventers.

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Danfoss Esco AS is the only manufacturer of valves and fittings for water supply in Norway and one of the largest in Scandinavia. The company was established in Oslo in 1877, and moved to Konigsberg in 1964. The company specializes in gate valves, control vah,es, fire valves, house connection valves and a range of fittings. Flomatic Corp, located in Glen Falls in upstate New York, was originally founded in 1933 and became associated with Socla in 1975. Today Flomatic specializes in check valves, foot valves, automatic hydraulic control valves and backflow preventers directed at the domestic, industrial, municipal and irrigation markets. Danfoss Socla has also established its own sales subsidiaries in" Rheinbach, Germany; Brussels, Belgium; Madrid, Spain; and, Milan, Italy. Within the Danfoss Heating business segment, the District Heating Controls division includes the activities of IWK Regler und Kompensatoren GmbH, a manufacturer of control devices for applications in district heating, based at Stutensee in Germany (now operating as Danfoss Regler GmbH), acquired from IWKA AG in 2000, and JiP Kugeleventiler A/S, a manufacturer of ball valves for district heating networks based in Glamsbjerg, Denmark, acquired fi'om the Powell Duffryn Group in June 2001. Danfoss is currently transferring its production at Danfoss Regler GmbH to Danfoss Trat doo in Slovenia. Within the Danfoss Refrigeration and Air Conditioning business segment, the Industrial & Appliance Controls Division produces a range of solenoid, externally or thermostatically operated valves for control of fluids and gases in numerous applications.

Key Figures ((million)

Danfoss A/S Year ended 31 December

2003 ,

Net Sales Of Which: Heating & Water Operating Profit Of Which: Heating & Water Number of Employees (Year End) Of Which: Heating & Water .

.

.

.

2002 ,,

2001

2077

2008

1930

494 149

381 97

381 81

64 17449

48 16972

47 16544

3864

2915

2895

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15455 Dallas Parkway Suite 1100 Addison TX 75001 USA Tel: +1 972 361 9933 Fax: +1 972 361 9929 Web: www.dresser.com

Dresser Inc was originally incorporated in 1998 under the name Dresser Equipment Group Inc, following the Halliburton Co's acquisition of Dresser Industries Inc. In April 2001, after a series of disposals, Halliburton sold off the Dresser Equipment Group (DEG) to a consortium comprising First Reserve Corp, Odyssey Investment Partners and some members of the Board of Dresser. DEG consisted of the Dresser Valve Division, Dresser Wayne Division, Dresser DMD-Roots Division, Dresser Instrument Division and Dresser Waukesha Division. The new compan); Dresser Inc, now operates with three business segments: Flow Control; Measurement Systems; and, Compression and Power Systems. In 2003, Dresser Inc had sales of US$1657 million and employed 8300 people worldwide. Dresser Measurement Systems is involved in the design, manufacture of fuel dispensers, pumps, peripherals and point of sale (POS) systems and software fbr the retail fuel industry. Dresser Compression and Power Systems is involved in the design, manufacture and marketing of natural gas fuelled engines fbr natural gas compression and power generation applications and rotary blowers and vacuum pumps. The operations of Dresser Flow Control, the largest of Dresser's business segments with sales in 2003 of US$996 million, includes the design, manufacture and marketing of valves and actuators, as well as natural gas meters, regulators, digital and analogue pressure and temperature gauges, transducers and piping specialities, such as couplings and conductors. In June 2001, Dresser acquired Entech Industries Inc, based in Houston, Texas, USA, and with operations in Germany (Entech), UK (International Valves Ltd), Netherlands (Control Seal Tolboom Valve Supply) and Italy (LVF and Ring-O-Valve), fi'om First Reserve Corp, one of D resser s investors. In September 2001, Dresser entered the flow control af;cermarket with the acquisition of the assets of Elliott Valve Ltd, based in Houston., Texas, USA. Elliott Valve distributes, repairs and reconditions valves, actuators and related products and had been a long-time distributor of Dresser products. To expand its aftermarket activities, in April 2002 Dresser acquired Modern Supply Co Inc, Ponca Fabricators Inc, and Qualit3, Fabrication Inc, all involved in the distribution, repair and servicing of Dresser's small

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diameter ball valve, gate valve, check valve and actuation products in the USA. In December 2003, Dresser completed the sale of its LVF valve unit, located near Bergamo, Italy. The unit manufactures forged-steel valves and had contributed around US$23 million in sales in 2003. Dresser's valve products include control valves, o n / o f f valves, pressure relief valves, and actuators. Control valves are sold under the Masoneilan (reciprocating, rotary, and severe service control valves, regulators and digital valve positioners and process controllers) and Becker Precision Equipment (control valves and rotary and linear actuators) brand names. Dresser has developed, and continues to develop, 'smart' technologies that transmit control and measurement data generated by the control valve to customers' service systems that remotely monitor the performance of their plant and equipment. O n / o f f valves are sold under a number of brand names (companies that Dresser has acquired over the past years) including: Control Seal- double block and bleed valves, rising stem ball valves Grove - trunnion ball valves, gate valves, plug valves, butterfly valves, and regulators Ledeen - pneumatic, hydraulic, electrohydraulic, electric and gas-over-oil type actuators N i l - C o r - industrial valves produced from graphite and fibreglass reinforced resins Ring-O - ball, gate, glove and check valves T K - all types of ball valves Tom Wheatley and Wheatley- all types of check valves Texsteam -chemical injection pumps, block valves, speciality ball valves and electric actuators. Pressure relief valves, including both safety and safety relief valve types, are sold under the Consolidated brand name. Dresser is developing new products for use in growing applications, including enhanced pilot operated safety valves for use in offshore and liquefied natural gas applications. Dresser has established a product development and marketing alliance with Yokogawa Electric Corp to offer integrated valve and control system solutions. In 2003, the Masoneilan control valve product line joined the Honeywell PKS (Process Knowledge Solutions) programme. Masoneilan is one of two control valve suppliers selected to participate in this programme. During 2002 and 2003, Dresser initiated restructuring programmes affecting several of its business units in an effort to obtain manufacturing efflciencies and cost savings. Several facilities have been closed and Dresser Flow Control now has around 25 manufacturing units (including Profile of the International Valve Industry

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Profiles of Leading Valve Manufacturers

local assembly facilities). The company is increasingly outsourcing the supply of components from low cost areas, including China and Brazil.

Key Figures (US$ million)

Dresser Inc Year ended 31 December

Total Revenues Of Which: Flow Control Operating Income Of Which: Flow Control Bookings Of Which: Flow Control

Karlstrasse 8 D-58135 Hagen Germany Tel: +49 2331 904 0 Fax: +49 2331 904 111 Web: www.ebroarmaturen.com

2003

2002

2001

1657.0

1589.4

1540.1

996.0 48.6

1005.1 82.9

848.1 116.2

43.1 1760.4

68.5 1517.8

77.1 1598.7

1061.3

952.0

945.4

The company has its origins in a fbundry business formed in 1934 by Ernst Br6er. Ebro Armaturen was tbunded in 1972, when the butterfly valve production was separated from the foundry business. Ebro's product programme now includes butterfly valves for a wide range of applications, including valves tbr polyethylene/polypropylene (PE/PP) pipe systems; knife gate vah,es; check valves; pinch valves; and, pneumatic and electric actuators. Ebro has manufacturing facilities in Hagen, Germany; Queshm, Iran; Brescia, Italy; Rotterdam, the Netherlands; and, Borwin/Chonburi, Thailand. Additional sales subsidiaries have also been established ill Austria, France, Hungary, Poland, Spain, Switzerland, UK, Australia, China, the Philippines and Turkey. The group now employs around 415 people and had valve sales in 2003 of US$72 million.

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Profiles of Leading Valve Manufacturers

9.14 Emerson Electric Co 8000 W Florissant Ave PO Box 4100 St Louis MO 63136

USA

Tel: +1 314 553 2000 Web: www. emersonelectric.com

Emerson Electric Co is a global manufacturer operating in five business areas" Appliance and Tools; HVAC; Electronics & Telecommunications; Industrial Automation; and, Process Control. The company had sales in the year ending 30 September 2003 of US$13.96 billion, employing around 106 700 worldwide. The Process Control business is carried out by Emerson Process Management (formerly known as the Fisher-Rosemount group and related businesses) and includes measurement and analytical instrumentation, valves, control systems and predictive maintenance systems. In fiscal 2003, Emerson Process Management had sales of US$3394 million (24% of group sales) of which 29% (approx US$984 million) were for 'Valves and Regulators'. The Valves and Regulators business is carried out by the Emerson Valve Automation Division and the Fisher Controls Division. Emerson

Valve Automation

The Valve Automation Division combines the strengths of five wellestablished brands- Bettis, Dantorque, EI-O-Matic, Hytork and Shaferinto a single unit. In 1999, as part of the Daniel Industries takeover, Emerson acquired" Bettis (pneumatic and gas/hydraulic scotch yoke actuators), based in Waller, Texas, USA; Dantorque (hydraulically-operated quarter-turn actuators), based in Esbjerg, Denmark; Hytork (pneumatic rack and pinion actuators), based in Peterlee, UK; and, Sharer (rotary vane, scotch yoke and linear-type valve actuators). EI-O-Matic (pneumatic rack and pinion and electric actuators), based in Hengelo, the Netherlands, had been acquired by Emerson in 1995. The FieldQ brand was introduced in 2002, following EI-O-Matic's development of an integrated approach to rack and pinion actuators and control accessories. The Valve Automation Division now employs 700-750 people worldwide and has sales of around US$130 million. Manufacturing plants are located in Waller, Texas, and Mansfield, Ohio, in the USA, as well as Hengelo in the Netherlands and Nilai in Malaysia. The Division has established Valve Automation Centres (VACs) in" Tampa, Florida, USA; Hengelo, the Netherlands; Peterlee, UK; Willich,

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Profiles of Leading Valve Manufacturers

Germany; Islando, South Africa; and, Singapore. VACs assemble customers' valves with an actuator, solenoid, and related components to provide a complete system, which is then tested, calibrated and certified. The Division plans to open VACs in China and Latin America.

Fisher Controls Fisher Controls is a world leader in the supply of control valves, including Edisc butterfly valves, Vee-Ball Valves, POSI-SEAL butterfly valves, lined butterfly valves, Eplug valves, pipeline ball valves, globe valves and sliding stem valves. These are available with pneumatic, electrohydraulic or electric actuators, together with FIELDVUE digital valve controllers. In addition, Baumann Inc, acquired in 1995 and now integrated into Emerson Process Management, manuthctures general utility, precision micro flow and sanitary control valves, and low noise static resistance plates, aimed at tile fine chemicals, industrial semiconductor, pharmaceuticals and biotechnology industry sectors. Fisher also produces a wide range of pressure regulators for industrial, commercial and residential applications and offers valve diagnostic and repair services. Fisher has recently announced plans to close its North Stonington, Connecticut, production plant in 2004, which will leave it with three plants in the USA: Marshalltown, Iowa; Sherman, Texas; and, Portsmouth, New Hampshire. Two production facilities are based in Europe" Cernay, France; and, Szekesfehervar, Hungary. A new control valve manufacturing facility in Nilai, Malaysia, was opened at the beginning of 2000, to provide a rapid response production facility for Asia Pacific customers and another new plant is under construction in WuQing, China. Key Figures (US$ million)

Emerson Electric Co Year ended 30 September

Net Sales Of Which: Process Control Earnings before Tax Of Which: Process Control

138

Profile of the International Valve Industry

2003

2002

2001

13958

13748

15311

3394 1414

3396 1590

3398 1614

388

387

358

9

5215 North O'Connor Boulevard Suite 2300 Irving TX 75039 USA Tel: +1 972 443 6500 Fax: +1 972 443 6800 Web: www.flowserve.com

Profiles of Leading Valve Manufacturers

Flowserve Corp was formed in July 1997 by the merger of two publicly traded companies, Durco International Inc and BW/IP Inc. BW/IP had earlier acquired Anchor/Darling Valve Co. A number of subsequent acquisitions, including the UK-based Valtek Engineering Division of Allen Power Engineering Ltd in 1998, Honeywell's industrial control valve product line and related production equipment in Germany in 1999, Innovative Valve Technologies Inc (Invatec) in 2000, Ingersoll Dresser Pump (IDP), also in 2000, and Invensys plc's Flow Control Division (IFC) in May 2002 has seen Flowserve's sales more than double, from US$1.15 billion in 1997 to US$2.40 billion in 2003. Employing around 13 000 people worldwide and with operations in 56 countries, Flowserve operates through three business segments: 9

9 9

Flowserve Pump Division (FPD), accounting for 49% of sales in 2003, produces engineered pumps, industrial pumps and related services; The Flow Solutions Division (FSD), with 14% of sales in 2003, is active in precision mechanical seals and related services; and The Flow Control Division (FCD), which generated 37% of sales in 2003, works with industrial valves, manual valves, control and nuclear valves, valve actuators and controls and related services.

The acquisition of IFC in May 2002, for US$533 million, doubled the size of the Flow Control Division, which in 2003 had sales of US$881 million. Following the acquisition, FCD initiated a restructuring programme designed to reduce costs and eliminate excess capacity by closing 18 valve facilities (including 10 service facilities) and reducing sales and related support personnel. At the end of 2003, FCD had five major manufacturing plants in the USA and 17 major manufacturing plants in the rest of the world (including 12 in Europe). Flowserve also manufactures a small percentage of its valves through foreign joint ventures. In an effort to reduce costs, the company has rationalized its supplier base and is increasing its sourcing of components from China, India and Eastern Europe. Through its acquisitions, FCD sells its products under a number of brand names. These include: 9 9 9 9

Accord Anchor/Darling Angus Atomac

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O O O O O O O O O O O O O O O O O O O O

Automax Battig Durco Edward Kammer Limitorque McCanna/Marpac NAF Naval Noble Alloy Norbro Nordstrom Audco PMV P+W Serck Audco Sereg Schmidt Armaturen Valtek Vogt Worcester Controls.

FCD's product range includes actuators and accessories, control valves, ball valves, lubricated plug valves, pneumatic and electro-pneumatic positioners, digital valves, digital communications, manual quarter-turn valves, valve automation systems, valve/actuator software, nuclear valves, quarter-turn actuators, and, valve repair services. FCD provides aftermarket services through a network of 49 service centres located throughout the world. The services also include leak sealing, line stopping and hot tapping. FCD has a diversified customer mix with 2003 sales showing a breakdown of: Chcmical (32%); Power (20%); Oil and Gas (15%); Water (3%); and, General Industry (30%). In the second quarter of 2004, Flowserve sold its French distribution business, with sales of C14 million and locations at Ccrgy-Pontoise and Nanterre near Paris, to the global flow control distributor FCX International pie. The FCX Group has entered into exclusive distribution agreements with the relevant Flowserve businesses, including FCD, for the salcs of its products in France. Sales of FCD are reported to have increased by 6.2% in the first six months of 2004, compared to the same period in 2003, almost entirely due to favourable foreign currency translations.

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Profiles of Leading Valve Manufacturers

Key Figures ( U S $ million) Flowserve Corp Year ended 31 December

Net Sales Of Which: Flow Control Operating Income Of Which: Flow Control 1

2003

2002

2001

2404.4

2251.2

1917.3

880.8 160.0

718.3 179.7

441.9 130.4

45.3

19.0

38.4

1 After integration and restructuring expensesand purchase accounting adjustment (US$22.7 million in 2003, US$25.7 million in 2002)

Fritz-Miiller-Strasse 6-8 D-74653 IngelfingenCriesbach Germany Tel: +49 7940 123 0 Fax: +49 7940 123 192 Web: www.gemue.de

Since its foundation by Fritz Miiller in 1964, Gemii Gebr Mtiller Apparatebau GmbH (GEM0) has grown to become an international company employing 850 people worldwide, including 450 in Germany, with sales of more than El00 million. Starting with the development of the plastic solenoid valve, which was mainly used in electroplating and water treatment installations in the 1960s, the company has expanded to establish a strong position in the market for high quality diaphragm valves for pharmaceutical, biotechnology, semiconductor production, and, l~)od and drink applications. In addition to the main production facility at its headquarters in Ingelfingen-Criesbach in the Hohenlohe region of Germany, GEMU has established production plants in: Switzerland (Rotkreuz); USA (Atlanta, Georgia); Brazil (S~o Jos6 dos Pinhais); and China, (Shanghai, as well as sales offices in Beijing, Guangzhou and Chengdu). Sales subsidiaries have also been established in: Austria (Guntramsdorf); Australia (Gosford); France (Molsheim); Singapore; Sweden (Lindome); Taiwan; and, UK (Warrington). ,o

In addition to plastic and metal diaphragm valves (including aseptic types), GEMO produces plastic and metal solenoid, ball and butterfly valves, metal globe and control valves, and, electric and pneumatic actuators. A complementary range of measurement and control instrumentation is also produced.

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200 Obuke Asahi-cho Mie-gun Mie Prefecture 510-8102 Japan Tel: +81 593 77 4711 Fax: +81 593 77 2714 Web: www.hitachivalve.co.jp

Hitachi Valve Ltd is a wholly-owned subsidiary of the publicly-quoted Hitachi Metals Ltd, which had sales in year ending 31 March 2003 of u billion (US$3446 million). The trial manufacture of malleable iron valves was started at Hitachi's Kuwana Works in 1942, but it was not until 1959 when Hisago Valve Industry Ltd (later renamed Hitachi Hisago Ltd in 1974) was established to specialize in valve production as an affiliate of Hitachi Metals' Kuwana Works that the company became active in the sector. Hitachi Valve Ltd was fbrmed in April 1987 through the merger of Hitachi Hisago Ltd and Hitachi Metals' Kuwana Valve Works, to consolidate valve production at Asahi-cho, Mie-gun, Mie Prefecture. Hitachi Valve took over valve sales from Hitachi Metals in 1993, through its own direct sales organization. Valve products now produced include malleable iron valves, cast steel valves, polyethylene ball valves, motor operated ball and butterfly valves, rotary control valves and high performance ball vah,cs. Hitachi Valve, which employs around 200 people, had sales in the year ended 31 March 2003 ofu million (US$55 million).

Key Figures (u million)

Hitachi Valve Ltd Year ended 31 March

Sales Operating Profit/(Loss) Number of Employees

Lakeside Solihull Parkway Birmingham Business Park Birmingham B37 7XZ UK Tel: +44 121 717 3700 Web: www.imiplc.com

2003

2002

2001

6639.8 59.1 200

6906.5 (23.9) 250

6970.5 132.8 273

The UK-based IMI plc is a major international engineering group supplying value-added products to major global customers in growing niche markets. The company operates in three main areas: Fluid Controls (pneumatics, severe service valves and indoor climate); Retail Dispense (beverage dispense and merchandising systems); and, Building Products. Sales in 2003 amounted to s million (US$2573 million). As part of its strategy of fbcusing on a f~wer number of higher growth businesses, IMI sold a number of its smaller valve businesses in its Energy Controls Group to Tyco Flow Control in 2001. These businesses

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Profile of the International Valve Industry

9 Profiles of Leading Valve Manufacturers

comprised the Safety Systems Group in the UK, Mecafrance in France, and, MCF and Cash Valve in the USA. The Energy Controls Group then became predominantly a severe service control valve business based around Control Components Inc (CCI), which targets applications in nuclear plants, fossil fuel power, oil and gas, and, combined heat and power. CCI was originally founded in 1961 to develop valves that could handle very high pressure liquid hydrogen and oxygen. The company subsequently developed its DRAG technology of forcing the process fluid to follow a tortuous path of right-angle turns to control the flow velocity throughout the valve. IMI acquired CCI in 1981 and the company grew strongly through the 1980s and 1990s. CCI acquired Sulzer Co's Thermtec division in 1997 this now operates as CCI AG at Winterthur in Switzerland- and the Swedish-based BTG severe service valves business in 2001. Early in 2002, the Milan, Italy-based STI was acquired, adding linear pneumatic actuators and accessories to CCI's product line. In January 2003, CCI acquired Fluid Kinetics, a US-based supplier of customized industrial silencers, to further broaden its severe service solutions product line. Later in 2003, Herion-Werke KG GmbH's nuclear process and nuclear process control products were transferred from IMI Norgren. CCI now manufactures the Herion solenoid operated valves, which are used extensively in the nuclear power industry, at its CCI AG facility in Winterthur. These acquisitions, together with organic growth, have resulted in the sales of IMI's severe service business increasing from s million in 2001 to s million (US$275 million) in 2003. The company reports that much of the growth has come from the oil and gas market, particularly LNG receiving and storage terminals. Strong growth is reported from Asia, particularly from the Chinese power market. CCI has

also improved its presence and gained market share in critical service applications for fertilizer production plants. Early in 2003, CCI introduced QuickTrak, an electronic valve controller designed to meet the high performance requirements of turbine bypass, compressor recycle, nuclear vent and boiler control applications. CCI has manufacturing facilities in California, USA; Winterthur, Switzerland; S~ffle, Sweden; Milan, Italy; and, has recently started up facilities in Tijuana, Mexico, and Bruno, Czech Republic. Recent investment in these last two new facilities resulted in them providing around 10% of the company's total manufacturing capacity in 2003.

Profile of the International Valve Industry 143

9

Profiles of Leading Valve Manufacturers

CCI has established more than 25 Valve Doctors@ in five countries, who are highly experienced principal valve and control applications experts providing "detailed solutions for complex applications".

Key Figures (s million)

IMI plc Year ended 31 December

Sales Of Which: Severe Service Operating Profit1 Of Which: Severe Service

2003

2002

2001

1573

1612

1642

168 154

148 148

132 151

20

17

14

1 Before restructuring, goodwill and exceptionals

4 West Red Oak Lane White Plains NY 10604 USA Tel: +1 914 641 2000 Fax: +1 914 696 2950 Web: www.itt.com

ITT Engineered Process Solutions Group 33 Centerville Road PO Box 6164 Lancaster PA 17603 USA Tel: +1 717 509 2200 Fax: +1 717 509 2336 Web: www.engvalves.com

ITT Industries is a multi-industry conglomerate operating in four business segments: Fluid Technology; Defense Electronics & Services; Motion & Flow Control; and, Electronic Components. Sales in 2003 amounted to US$5627 million, a 12.9% increase on 2002. The Fluid Technology segment, the largest of the group accounting for 40% of sales, had sales in 2003 of US$2250 million, a 15% increase on 2002. Fluid Technology is a leading worldwide supplier of a broad range of pumps, mixers, heat exchangers, valves and systems for municipal, industrial, residential, agricultural, and commercial applications. % of Fluid Technology Sales Water/Waste Water Industrial and Process Buiding Trades Biopharm

2003

2002

62 18 14 6

58 22 16 4

2001 56 24 17 3

In 2003, approximately 53% of Fluid technology sales and revenues were derived from North America, approximately 33% were derived from Europe, and the Asia/Pacific region accounted for around 8%. In the spring of 2003, the Engineered Valves Group changed its name to become the Engineered Process Solutions Group (EPSG). This reflected the company's strategy of expanding its product portfolio to include tanks, vessels, process modules, skids and pumps, as well as valves. In 2003, valves accounted for less than 50% of EPSG's sales of around US$200 million.

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Profile of the International Valve Industry

9

Profiles of Leading Valve Manufacturers

EPSG now comprises three major groups" Pure-Flo Solutions Group, Industrial Group and Richter Group. The Pure-FIo Solutions Group, based on the acquisitions of Sherotec, AG Johansons and Sinton Engineering, provides products for the global hygienic processing industries. Products include hygienic process valves (Pure-FIo Hygienic Diaphragm Valves), tanks and pressure vessels, process skid systems, process modules, hygienic pumps, architectural and custom fabrications and custom piping systems. The product line has been further bolstered by the acquisition in 2002 of Precision Stainless Inc (process vessels) and the Biopharm Manufacturing Division of Martin Petersen (process systems). The Pure-FIo Solutions Group has two valve manufacturing facilities in the USA, at Lancaster, Pennsylvania, and Simi Valley, California, as well as a plant in Kirkam, UK. The Industrial Group products include Dia-FIo diaphragm valves, CamTite ball valves, Cam-Line plastic-lined ball valves, Fabri-Valve knife-gate, slide-gate and custom-fabricated valves, and Skotch burner safety shut-off valves. These valves are sold to the chemical, pulp and paper, water and wastewater treatment and power generation industries, as well as other industrial market segments. The Industrial Group has manufacturing facilities at Lancaster, Pennsylvania, and Amory, Missouri, in the USA. ITT Richter Chemie-Technik GmbH, based in Kempen, Germany, manufactures plastic lined valves and pumps for the chemical processing, fine chemical and active pharmaceutical ingredient markets.

Key Figures (US$ million)

ITT Industries Inc Year ended 31 December Sales and Revenues Of Which: Fluid Technology Operating Income Of Which" Fluid Technology

2003

2002

2001

5626.6

4985.3

4675.7

2249.9 528.5

1956.3 537.6

1829.7 396.8

271.4

251.5

202.4

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9

Profiles of Leading Valve Manufacturers

1-10-1 Nakase Mihama-ku Chiba 261-8777 Japan Tel: +81 43 299 1730 Fax: +81 43 299 0121 Web: www.kitz.co.jp

Kitz Corp, established in 1951, is Japan's largest manufacturer of valves, with total company sales in the year ended 31 March 2004 of u billion, (US$653 million), of which about 80% was accounted for by ValVeS. The company manufactures bronze/brass, cast iron, ductile iron, stainless steel and cast steel globe, gate, check and ball valves; cast iron, aluminium, stainless steel and ductile iron butterfly valves; control valves; and pneumatic and electric actuators. Kitz has highly automated plants in Japan at Nagasaka, Suwa, Ina and Chino, and since the 1980s it has made substantial investments in overseas facilities. In 1985, Kitz established Kitz Corp of America in Texas to handle sales in North America and subsequently set up a manufacturing facility tbr carbon steel valves in Reynosa, Mexico. In 1999, Kitz acquired Quality Assured Products Inc, based in Allamecta, California. Now renamed Kitz Corp of California, the company now manufactures carbon steel valves for high pressure and high temperature applications. In 1991, Kitz acquired ISO Vitrificados E Vilaseca, an industrial valve, mainly globe, manufacturer based in Barcelona, Spain. Kitz Corp of Europe SA now manufactures ball valves. Kitz's plant in Bangplee, Thailand, which started operations in 1988, has recently been expanded to increase capacity of its fbrged brass ball valves to more than 1 million units per month. In May 2001, a second Thai plant was opened at Amatanakorn, for the manufhcture of butterfly valves. It has since been expanded to increase capacity to more than 40 000 units per month. In the first half of 2004, a wholly owned sales and production subsidiary was established at Jiangsu in China. The company will manufacture cast steel valves, used mainly tbr petrochemical applications, initially at a rate of 5500 units per month before being increased to 10 000 units per month within three years. Kitz's plants in Japan and Mexico, which have been producing these valves, will shed workers and focus on the final stage of assembly. In 2003, Kitz and KSB signed an agreement on the mutual supply of valves. Under the agreement, Kitz will provide KSB with stainless steel valves for use in chemical and pharmaceutical plants in Germany, while Kitz will sell KSB butterfly valves for use in LNG storage equipment and LNG tankers in Japan.

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9

Profiles of Leading Valve Manufacturers

In December 2003, Kitz acquired Toyo Valve Ltd's operations in Japan and Thailand (Toyo had previously sold its US subsidiary, Red White Valve Corp earlier in the year).

Key Consolidated Figures (u million)

Kitz Corp Year ended 31 March

Net Sales Of Which: Valve Manufacturing Brass Bar Manufacturing Services & Other Operating Income Of WhichValve Manufacturing .

Johan-Klein-Strasse 9 D-67227 Frankenthal Germany Tel: +49 6233 86 0 Fax: +49 6233 86 3401 Web: www.ksbgroup.com

.

.

.

.

.

2004

2003

2002

73802

70792

72160

3235

58645 5627 7887 2068

4181

4677

KSB, originally founded in 1871 to manufacture boiler feed equipment and valves, has grown to become Germany's largest pump manufacturer and an international group of companies. It has 29 manufacturing plants in 19 countries, employing 12 250 people. The Group's valve activities, which accounted for about 20-25% of the El178 million turnover in 2003, has grown both through organic development and acquisitions. KSB acquired a minority stake in the Luxembourg-based diaphragm valve manufacturer SISTO Armaturen, converting it to a majority holding in 1988 (the Group currently has a 52.86% holding). In 1989, KSB acquired the French-based AMRI, then the world's second largest butterfly valve manufacturer. By acquiring MIL Controls Ltd, Mala, India in 1997, KSB extended its range to include ANSI valves and control valves. In November 2002, KSB acquired part of the business of former valve manufacturer P6rringer+Schineller GmbH (PSA). The acquisition covered PSA's production facility in Liinen, Germany, which manufactures gate valves and swing check vah,es for industrial and power station applications. KSB has valve production facilities in: Frankenthal, Lfinen and Pegnitz in Germany; Echternach, Luxembourg; La Roche-Chalais, France; Burgos, Profile of the International Valve Industry

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9

Profiles of Leading Valve Manufacturers

Spain; Coimbatore and Mala, India; Houston, Texas, USA; and, Vfirzea Paulista, Brazil. In order to improve international competitiveness, KSB has recently reported plans to intensify its procurement of materials, components and products from outside the euro zone. The Group ofli:rs globe and regulating vah'es, gate valves, diaphragm valves, check valves, swing check vah,es, strainers, butterfly valves and manual, pneumatic and hydraulic actuators. KSB introduced a functional organization for its European companies on 1 January 2002. All sales and marketing activities tbr pumps and valves, as well as development, production and product management, have becn brought together. Since the start of 2002, KSB customers have had access to a web shop at http://shop.ksb.com, where they can currently order 3000 pumps and valves, as well as 500 000 spare parts on-line. To date, web shops have been set up in Germany, France, UK, the Netherlands and Belgium. Around 3000 orders per month are now being processed, of which 60% are for spare parts. The compnay has also been active in implementing EDI systems and the full integration with the ERP (Enterprise Resource Planning) systems of a number of customers. During 2003, KSB signed a distribution agreement with the Japanese company Kitz Corp for tile sale of ball valves in selected European countries, to extend its product offering. Under the agreement Kitz will also sell KSB's butterfly valves in Japan. Due to the difficult market conditions KSB has started 'Structural Programme 2006', aimed at improving competitiveness and profitability by 2006. As part of this programme the company aims to reduce staff numbers in Europe by about 650 by the end of 2005.

Key Figures ((~ million)

KSB Group Year ended 31 December

Sales Order Intake Pre-tax Profit Number of Employees (Year End)

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Profile of the International Valve Industry

2003

2002

2001

1178.1 1191.9 29.8 12252

1180.2 1199.9 34.3 11948

1161.9 1182 26.9 12071

9

2-47 Shikitsuhigashi 1chome Nainwa-ku Osaka 556-8601 Japan Tel: +81 6 6648 2111 Fax: +81 6 6648 3862 Web: www.kubota.co.jp Kubota Valve Division 1-1-1 Nakamiya Oike Hirakata Osaka 573-8573 Japan Tel: +81 72 840 1292 Fax: +81 72 840 1290 Web: www. kubota.co.jp/valve

Profiles of Leading Valve Manufacturers

Kubota was originally founded as a manufacturer of castings in 1890 and commenced valve production in 1897. It began the mass production of cast-iron pipes in 1908 and subsequently diversified into producing internal combustion engines, farm and construction machinery, building materials and environmental engineering. The company had sales in year ended 31 March 2004 of u billion (US$8.2 billion). The Pipes, Valves and Industrial Castings business segment had sales ofu billion (US$1.55 billion) of which around u billion (US$124 million) was for valves. The Kubota Valve Division is based at Hirakata, Japan, and its main products include butterfly valves, sluice valves, gate valves, slide valves, ball valves, air valves, dam valves, sleeve valves, control valves, check valves and FCC valves. The majority of valve sales are to municipalities and public utilities for use principally in water supply and sewage systems along with industrial water supply. The products are also used for gas supply and irrigation systems.

Key Figures (u billion)

Kubota Corp Year ended 31 March

Net Sales Of Which" Pipes, Valves & Industrial Castings Operating Income/(Loss) Of Which" Pipes, Valves & Industrial Castings

2004

2003

2002

930.2

926.1

965.8

175.2 21.8

177.2 29.6

184.5 34.4

(5.7)

1.9

11.2

9.23 Kurimoto Ltd 1-12-19 Kita-Horie Nishi-ku Osaka 550-8580 Japan Tel: +81 6 6538 7661 Fax: +81 6 6538 7757 Web: www.kurimoto.co.jp

Kurimoto Ltd began operations as a manufacturer of cast iron pipes for water and gas mains. Subsequently, it has diversified into other fields and its major divisions now provide ductile iron pipes, steel structures, plant equipment and engineering services, valves and construction materials. Sales in the year ended 31 March 2003 amounted to u which u 11 billion (9.0%) were for valves.

billion, of

Profile of the International Valve Industry

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9

Profiles of Leading Valve Manufacturers

The valve factory is located in Senboku, Osaka, and products include butterfly valves, sluice valves, check valves, air valves, fire hydrants, slide gates, movable weirs, eccentric valves, water level control and pressure regulating valves, sleeve valves and blast furnace valves. The Valve division is attempting to expand its sales into China and Asia and is increasing its overseas procurement to improve competitiveness.

Key Figures (u billion)

Kurimoto Ltd Year ended 31 March

2003

Net Sales Of Which" Valves Operating Income/(Loss)

2-7-2 Yaesu Chuo-ku Tokyo 104-8351 Japan Tel: +81 3 3281 5521 Fax: +81 3 3274 4157 Web: www.maezawa.co.jp Valve Business Unit 5-11 Nakamichi Kawaguchi-shi Saitama 332-8556 Japan Tel: +81 48 259 7420 Fax: +81 48 254 2338

11.0 2.2

119.8 12.5 (1.3)

2001

132.4 11.3 3.5

Formed in 1947, Maezawa Industries is a leading specialist manufacturer of sewage treatment equipment (47% of sales), water supply equipment (12% of sales) and valves (27% of sales). Sales in the year ended 31 May 2003 were u million (US$321 million). General purpose valves and cocks include sluice valves, soft seal valves, air exhaust valves, ball valves, fire hydrants and sludge valves. Control valves and gates include butterfly valves, flow control valves, emergency shut-off valves, check valves, sluice gates and movable weirs.

Key Figures (u million)

Maezawa Industries Inc Year ended 31 May

Sales Operating Profit/(Loss) Number of Employees

150

123.1

2002

Profile of the International Valve Industry

2003

2002

2001

38542 (911) 885

43739 400 900

48344 1886 889

Profiles of Leading Valve Manufacturers

9

Fabianinkatu 9A PO Box 1220 FIN-00101 Helsinki Finland Tel: +358 20 484 100 Fax: +358 20 484 101 Web: www.metso.com

Metso Automation Tulppatie 1 PO Box 310 FIN-00811 Helsinki Finland Tel: +358 20 483 150 Fax: +358 20 483 151 Web: www. metsoautomation.com

The Finnish-based Metso Corp is a global supplier of process industry machinery and systems, as well as aftermarket and know-how services. The corporation's core businesses are fibre and paper technology (Metso Paper), rock and minerals processing (Metso Minerals), and, automation and control technology (Metso Automation). Metso's fourth business area, Metso Ventures, comprises units that serve the corporation's other businesses or are under strategic development. In 2003, Metso's net sales amounted to E4250 million. At the beginning of 2001, Metso Corp's automation and control technology business area was renamed Metso Automation. Formerly the name of the company was Neles Automation, which had been formed in 1999 by the merger of Neles Controls and Valmet Automation. Metso Automation operates worldwide and has sales and customer support units in 36 countries, employing around 3300 people. In 2003, Metso Automation's net sales were E531 million, down from E622 million in 2002. In the first six months of 2004, sales declined by 3.9%, compared to the same period in 2003.

Metso Automation Sales by Region Finland Other Nordic Countries Other European Countries North America South America Asia-Pacific Rest of World

2003 23% 4% 26% 29% 4% 11% 3%

2002 20% 4% 21% 36% 5% 11% 3%

Metso Automation is divided into two business lines: 9

9

Process Automation Systems, which accounts for about one-third of Metso Automation's net sales, specializes in automation and information systems for the pulp and paper industry, rock and mineral processing industry, and, power industry. Field Systems produces flow control solutions, including automated and manual control valves, pulp and wet end analysers and speciality sensors.

Metso Automation, which through Neles had acquired Jamesbury Corp in 1988, has valve manufacturing |b,cilities in" Helsinki, Finland; Wittenheim, France; Shrewsbury, Massachusetts, USA; Chihuahua, Mexico; and, Shanghai, China. The latter facility is a joint venture with Shanghai Valve and Vacuum Equipment Corp set up in 1991.

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9

Profiles of Leading Valve Manufacturers

In 2000, Metso acquired StoneL Corp of Fergus Falls, Minnesota, USA, a supplier of valve monitoring and communication solutions, while in 2001 it bought the US electric actuator specialist, Valvcon Corp, based in Milford, New Hampshire. Metso Automation offers a wide range of valves, including ball valves, butterfly vah,es, emergency shut down valves, low noise anti-cavitation valves, rotary plug valves, segment valves, control valves, and, pneumatic and electric actuators.

Key Figures ((~ million)

Metso Corp Year ended 31 December

Net Sales Of Which: Metso Automation Orders Received Of Which: Metso Automation Operating Profit/(Loss) Of Which: Metso Automation Number of Employees (Year End) Of Which: Metso Automation

1-1-2 Tsutsumi-machi Aoba-ku Sendai Miyagi-pref 981-0912 Japan Tel: +81 22 234 2111 Web: www. motoyama-cp.cp.jp

152

2003

2002

2001

4250

4691

4343

531 4256

622 4646

693 3778

531 (229)

643 167

676 246

28 26240

16 28489

17 30242

3314

4150

4532

Motoyama was established in Sendai, Japan, in 1924 as a designer of HVAC systems. In its early days the company developed metallic bellows and components tbr steam traps and pressure reducing valves. In subsequent years the company has developed a wide range of control valves and in 1994 moved to a new, state-of-the-art factory in Ohira. The company now employs around 280 people and has annual valve sales of" about u billion (US$60 million). Its range of control valves uses globe, cage, eccentric plug, butterfly and diaphragm valve technology,, as well as special valves and safi:ty relief valves. One area of expertise is in dust-free ultra-clean control valves for gas processing in semiconductor manufacturing and other production lines, where cleanliness is essential.

Profile of the International Valve Industry

9

1-1 FukanoMinamimachi Daito City Osaka 574-8691 Japan Tel: +81 72 871 1331 Fax: +81 72 874 7501 Web: www. nakakita-s.co.jp

Profiles of Leading Valve Manufacturers

Nakakita Seisakusho Co Ltd, which was originally formed in 1937, is run by the Nakakita family and has its shares traded on the second section of the Osaka Stock Exchange. Its principal activities are the manufacture of automatic regulating valves, butterfly valves, and remote control marine devices. The company is particularly strong in the supply of butterfly valves for tankers. The company, which employs around 260 people, saw sales decline by 14% in fiscal 2004 to u billion. Key Figures (u billion) Nakakita Seisakusho Co Ltd Year ended 31 May Sales Operating Profit Net Profit Numbers Employed

1516 Middlebury Street Elkhart IN 46516-4740 USA Tel: + 1 574 295 3000 Fax: +1 574 295 3307 Web: www.nibco.com

2004

2003

2002

15.8 1.1 0.6 258

18.5 1.8 0.9 267

18.4 1.7 0.9 288

Nibco began business as a brass foundry in 1904 at Elkhart, Indiana, USA, as Northern Indiana Brass Co. Today, this privately owned company has expanded into 12 separate manufacturing facilities throughout the USA, and also has plants in Reynosa, Mexico, and Lodz, Poland, as well as five distribution centres. Nibco now employs more than 3000 people worldwide and has estimated annual sales of US$440 million. The company offers a wide range of flow control products for the residential, commercial construction, industrial and irrigation markets, including ball, gate, globe and butterfly valves using a variety of materials (including brass, bronze, ductile iron, cast iron, carbon steel, and, plastic).

Profile of the International Valve Industry

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9

Profiles of Leading Valve Manufacturers

Koso Nihonbashi Bldg 1-16-7 Nihonbashi Chuo-ku Tokyo 103-0027 Japan Tel: +81 3 5202 4300 Fax: +81 3 5202 4301 Web: www.koso.co.jp

Formed in 1960, Nihon Koso has become one of Japan's leading control valve manufacturers. Its wide product range uses globe, ball, butterfly and gate valve technology. The control valves are supplemented with a range of electric, pneumatic and hydraulic actuators. The company also manufactures pumps, sensors (pressure transmitters, pressure and level switches), and, control systems. Exports account for more than 35% ofNihon Koso's sales, with products being shipped to Europe, the Middle East and North America. Outside of Japan, tile Nihon Koso brand has been expanded through locally established companies. Facilities have been established in" China (Koso Control Engineering); Korea (Korea Koso Co Ltd and Koso Automatic Control Instruments Ltd); and Singapore (Koso Controls Asia Pte Ltd). In 1993, Koso America Inc was established when Nihon Koso acquired Rexa Corp, which had been formed in 1980 to develop and produce electro-hydraulic valve actuators and damper drives, now sold under the Electraulic brand name. In June 2002, Koso America acquired the Hammel Dahl product line (globe and angle style control valves) from Metso Automation (formerly Ne les-J a mesb u r y ). Koso International Inc/Pacific Seismic Products manufactures seismic actuated valves tbr residential, commercial and industrial applications. These products provide for automatic natural gas shut-off during an earthquake. Nihon Koso group sales are believed to bc in the region of US$80-100 million per annum.

9.30 Okano Valve IVifg Co 1-14 Nakamachi

Moji-ku

Kitakyusha City 8008601 Japan Tel: +81 93 372 9220 Fax: +81 93 372 1200 Web: www.okanovalve.co.jp

154

Established in 1926 by Mitsuru Okano to manufacture steel vah,cs, Okano Valve had sales in the year ended 30 November 2003 of u million. Okano Valve was the first to adopt stellite as a seating material for valves back in 1932. The company, which now employs around 430 people, produces various types of cast and fbrged steel valves and fittings tbr

Profile of the International Valve Industry

9 Profiles of Leading Valve Manufacturers

thermal and nuclear power plants, petrochemical plants, chemical industries, marine service, and, other industries. The company has factories in Japan at Moji (its headquarters) and Yukuhashi, together with a joint venture valve manufacturing plant in Dalian, China, which was established in 1989.

Key Figures (u million)

Okano Valve Mfg Co Year ended 30 November

Sales Operating Profit

4560 SW Macadam Avenue Suite 440 Portland OR 97239-4254

USA

Tel: +1 503 417 4800 Web: www.precast.com

PCC Flow Technologies Inc 16801 Greenspoint Park Drive Suite 355 Houston TX 77060-2312 USA Tel: +1 281 873 2055 Fax: +1 281 873 2042 Web: www.pccflow.com

2003

2002

9722 247

9569 203

.

.

.

.

.

.

2001

11075 338

STOP PRESS On 24 September 2004, Precision Castparts Corp announced that it had decided to sell its pump and valve businesses. The company has agreed to sell the majority of its valve businesses to Cooper Cameron Corp in a cash transaction valued at US$80 million. The valve businesses consist of the General Valve, Sterom, TBV, Techno, AOP and PCC Ball Valves product lines. PCC Eurovalve and the assets related to the Reiss, Baronshire, Valtaco and Technova product lines, are not included in the sale to Cooper Cameron, and will be held for sale in discontinued operations. Precision Castparts Corp is a worldwide manufacturer of complex metal components and products with operations in five business segments: Investment Cast Products; Forged Products; Fluid Management Products; Fastener Products; and, Industrial Products. Sales in the year ended 28 March 2004 were US$2.17 billion. The Fluid Management Products segment, with sales in the year ended 30 March 2004 of US$308.7 million and around 2000 employees, includes all of the businesses of PCC Flow Technologies. The PCC Flow Technologies business started in mid-1996 when Precision Castparts Corp acquired Newflo Corp of Austin, Texas, USA. Since then, an aggressive strategy of acquisitions and international expansion has seen the company grow to become a major supplier of fluid management products.

Profile of the International Valve Industry

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9

Profiles of Leading Valve Manufacturers

Valve acquisitions have included" 9 9 9 9 9 9 9 9

9

Baronshire Engineering of Glasgow, UK (1998) - stainless steel butterfly valves; TBV of Worcester, Massachusetts, USA (1998) - ball valves, primarily fbr severe services; Sterom SA of Campina, Romania (1999) - ball and gate valves and oilfield equipment; Valtaco ( 1 9 9 9 ) - a Swiss manuthcturer of quarter-turn, three-piece ball valves; Reiss Engineering Co Ltd of Peterborough, UK (1999) - knife gate valves; Technova of Aaru, Switzerland ( 2 0 0 0 ) - plastic-lined valves for corrosive and abrasive fluids; Wouter Witzel of Losser, the Netherlands (2000) - rubber-lined butterfly valves; AOP Industries Inc of Oklahoma City, Oklahoma, USA ( 2 0 0 1 ) gate valves, trunnion supported ball valves and wellhead components; CWS of Houston, Texas, USA (2002) - a General Valve repair facility.

PCC Flow Technologies now offers a comprehensive range of valves under the AOP Industries, General Valve, PCC Ball Valves, PCC Baronshire, PCC ConVey, PCC Reiss, PCC Sterom, PCC Technova, PCC Valtaco, TBV, Techno and Wouter Witzel brand names. In fiscal 2003, PCC consolidated its production into nine manufhcturing facilities. In Europe, the production of Baronshire, Reiss, Valtaco and Technova products were consolidated into a new European Manufacturing Centre (EMC) in Campina, Romania. This facility has also enabled the company to upgrade the manufacturing process of the Sterom product line. To complement the EMC, the old Wouter Witzel site at Losser in the Netherlands has been developed into a centre of excellence for more demanding valves, including the Wouter Witzel rubber-lined butterfly valve and the ConVey high performance valves. Losser also acts as the engineering and design centre tbr all valve lines and also houses the PCC EuroValve European Distribution Centre. PCC Ball Valves at Lainate, Italy, continues to manufacture a wide range of trunnion-mounted ball valves. A new Asian Manufacturing Centre (AMC) was opened in Wuxi, China, in fiscal 2002, to support the company's Singapore-based sales operation. The company has also expanded into Malaysia to support PCC Ball Valves and other product lines, with assembly, test, stock and service capabilities to serve the entire Asia Pacific area.

156

Profile of the International Valve Industry

9

Profiles of Leading Valve Manufacturers

US valve manufacturing actMties are carried out at PCC Valves & Controls in Millbury, Massachusetts and AOP Industries Inc in Oklahoma City, Oklahoma. In the third quarter of fiscal 2004, PCC sold Newmans, its valve distribution business.

Key Figures (US$ million)

Precision Castparts Corp Year ended March

Net Sales Of Which: Fluid Management Products Operating Income Of Which: Fluid Management Products

3170 Wasson Road Cincinnati OH 45208 USA Tel: +1 513 533 5600 Fax: +1 513 871 0105 Web: www.richardsind.com

2004

2003

2002

2174.7

2076.6

2447.8

308.7 291.6

310.9 309.8

298.7 350.9

31.0

32.5

16.1

Richards Industries began as the Jordan Valve Co in 1947, since when it has grown to comprise a group of companies operating a campus of manufacturing plants in suburban Cincinnati, Ohio. The Group now employs more than 500 people and had combined sales in 2003 of US$80 million.

Jordan Valves Founded in the late 1940s, the company has grown from a manufacturer of a smaU mixing valve to a supplier of a complete range of pressure and temperature regulators, pneumatic and electric control valves and sanitary valves. The cornerstone of the Jordan Valve product line is the sliding gate design, with a unique and superior seat design, made up of two primary parts: a movable slotted disc and a stationary slotted plate. Jordan valve customers include leading companies in the chemical, petrochemical, pharmaceutical, and food processing industries.

Hex Valve Hex Valve, which was acquired in 1983, produces a line of instrument manifolds, orifice block valves, gauge valves, needle valves, and, block and bleed valves. Customers include the petrochemical, chemical, petroleum, pulp and paper, food processing and primary metal industries.

Profile of the International Valve Industry

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9

Profiles of Leading Valve Manufacturers

Bestobell Steam Richards Industries acquired Bestobell Steam in 1986 to expand the group's product range to include steam traps, and related auxiliary products including check valves and strainers.

Marwin Ball Valve Marwin Ball Valve, which was acquired in 1998, manufactures a wide range of manual ball valves and automated control systems, including three-piece valves, two-piece valves, flanged valves, three-way valves, automated ball valves, fire-satE valves, and other speciality ball valves for severe service applications. The products are used in a wide range of industries, including chemical and petrochemical, oil and gas, petroleum production, power generation, primary metals, pulp and paper, textiles, and, water and sewage.

Smart Watch Smart Watch, the last company to join Richards Industries in 2001, produces a continuous monitoring system, designed to detect leakage in normally closed valves, where the process media is vapour, gas or steam and steam traps.

Rotork House Brassmill Lane Bath BA1 3JQ

Rotork has its origins in a small general electrical and mechanical engineering company based in Bristol, UK. Tile company first developed an electric actuator in 1952 and in 1957 the Rotork Engineering Co Ltd

Tel: +44 1225 733200 Fax: +44 1225 733381 Web: www.rotork.com

was formed. Since then the c o m p a n y has g r o w n rapidly, o b t a i n i n g a

UK

London Stock Exchange listing in 1968. It now comprises a group of worldwide companies employing more than 1100 people, with sales in 2003 ofs million. Electric actuators account fbr 75% of Rotork's sales. Heavy-duty valve actuators are the company's traditional core business, a sector in which the company has become the largest independent manufhcturer in the world. Rotork adheres to an in-house assembly philosophy of manufhcturing, relying on high quality vendors for all of its components. There is an ongoing initiative to develop more Far Eastern sources for components to reduce costs and the sterling component of the cost base.

158

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Profiles of Leading Valve Manufacturers

The Bath, UK, factory produces actuators for worldwide distribution, while the company's plant in Rochester, New York, USA, mainly serves customers in North and South America. Rotork's two Indian plants, in Chennai and Bangalore, principally supply the indigenous Indian market. A new fhctory in Shah Alam, close to Kuala Lumpur, Malaysia, began operations in December 2002 to meet the demand for reliable, low cost multi-turn electric actuators principally in power and water markets. The Bath site, as well as being the Group's headquarters, houses the centre for all R&D activity company-wide. Rotork's innovations have included the introduction of O-ring seals in place of gaskets in explosionproof actuators in the early 1960s and the I Q range of actuators in the 1990s, which introduced 'non-intrusive' commissioning and interrogation by means of a hand-held infra-red setting tool. The second-generation I Q electric actuator provides on-board data logger, rationalised system-on-chip electronics and comprehensive control and indication flexibility. In 2003, the company introduced the IQT actuator for quarter-turn valves. The acquisition of Protech Instruments & Systems Ltd in 1985 helped Rotork in the development of Pakscan, which allows microprocessor based control of large numbers of actuators or other plant equipment on a single two-wire loop. It is reported that more than 25% of all Rotork actuator sales include Pakscan. In December 2000, Rotork bought the Skilmatic actuator business and assets from Skil Controls Ltd. Based in Leeds, Rotork Skilmatic now offers linear and quarter-turn actuators, which are compact and robust, self-contained electric units with an internal hydraulic drive for both modulating and failsafe two-position control. In January 2002, Rotork acquired Jordan Controls Inc, based in Milwaukee, Wisconsin, USA. Jordan Controls is a niche manufacturer of customized electric and electrohydraulic actuators and services in the power, water, oil and gas, and, other industrial automation markets

within the USA, as well as parts of South America and China. Rotork Fluid System was formed in 1995 to supply pneumatic and hydraulic actuators. Initially operating from Rochester in the USA, Leeds in the UK and Singapore, the business was strengthened in 1999, with the acquisition of Fluid System Srl, based ill Lucca, Italy. Following a major investment a new, larger (four-fbld expansion) production facility was opened at Lucca in June 2002. The product range has been expanded to include pneumatic and hydraulic scotch yoke actuators, together with linear rack and pinion units manufactured in ductile iron and fabricated steel.

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Profiles of Leading Valve Manufacturers

With production now based at Rochester and Lucca, customized packaged solutions are devised at facilities in Leeds, UK; Toronto, Canada; Singapore; and, in the USA, San Francisco, California, and Houston, Texas. In 2003, Rotork Fluid System accounted tbr 13% of Group turnover. In early January 2004, Rotork acquired Deanquip Valve Automation, based in Melbourne, Australia. The company is a major distributor of fluid power actuators in Australia and will become the fbcus of Rotork Fluid System product and service offerings in the region. Rotork Gears was formed in 1999 to amalgamate the gearbox activities of Execco Ltd with Alecto (a Dutch-based manufacturer of gearboxes) and Valvekits. Valvekits, which had been acquired in 1999, manufactures valve adaption and ancillary items fbr valves. Rotork Gears manufactures a wide range of valve gearboxes, with Rotork Valvekits providing a complete range of mounting brackets, extension shafts, pedestals and accessories tbr the valve and actuator industry. Rotork Gears, which accounts for around 12% of Rotork Group sales, has manufacturing plants in Leeds and Nottingham in the UK, Losser in the Netherlands and Rochester, New York, USA.

Key Figures (s million)

Rotork plc Year ended 31 December

2003

Turnover (including Discontinued Operations) Turnover by Region for Continuing Operations: Europe Americas Rest of World Turnover by Product: Electric Actuators Rotork Fluid System Rotork Gears Operating Profit1 1 Continuing operations

160

Profile of the International Valve Industry

2002

2001

136.0

133.5

123.7 (4.4)

70.1 40.0 25.9

62.5 45.4 21.8

61.8 38.2 19.3

75% 13% 12% 26.7

77% 12% 11% 25.2

77% 11% 12% 23.7

(3.8)

9

WeismiJllerstrasse 3

D-60314 Frankfurt am

Main Germany Tel: +49 69 4009 0 Fax: +49 69 4009 1507 Web: www.samson.de

Profiles of Leading Valve Manufacturers

Hermann Sandvoss founded Samson AG Mess-und Regeltechnik in 1907 to develop self-operated regulators. Since 1916, the main manufacturing plant and head office have been located on the River Main in Frankfurt, Germany. Samson has grown to be represented in more than 40 countries by 32 independent subsidiaries, as well as 79 engineering and sales offices. The group now employs 2500 people worldwide, including more than 1500 in Germany. It had sales in 2002/3 orE281 million (US$317 million), of which about 60-70% were for control valves and regulators. In addition to the main manufacturing plant in Frankfurt, Samson has established manufacturing plants in" Vaulx-en-Velin, France; Istanbul, Turkey; Mumbai, India; and, Beijing, China. The major sales subsidiaries carry component stocks and carry out local assembly for their markets. The modular design of Samson control valves allows the flexibility of selecting valve components to meet a wide range of applications in process engineering and building automation (HVAC applications). These control valves can be supplied with an electric, electro-hydraulic or pneumatic actuator. Samson also produces controller and automation systems and the product line also includes the Samson smart positioner, which can be used in Hart or Profibus systems, limit switches, solenoid valves, lockup valves and amplifiers. Samsomatic, a subsidiary of Samson, is responsible for complete automation systems, individual projects and turnkey installations.

Charlton House Cirencester Road Cheltenham GL53 8ER UK Tel: +44 1242 521361 Fax: +44 1242 581470 Web: www.

spiraxsarcoengineering.

corn

Established in 1888, Spirax-Sarco Engineering plc has been quoted on the London Stock Exchange for more than 40 years. Specializing in system solutions fbr steam, fluid handling and peristaltic pumping, the group employs 3900 people and had sales in 2003 of s million (US$514 million). At the end of 2002, the group acquired, for s million, Ampe Srl, a small Italian subcontract supplier of pneumatic and electronic actuators and instrumentation. The Spirax-Sarco Group's fluid control business comprises two elements, Spirax-Sarco and Watson-Marlow Bredel. Spirax-Sarco is a world leader

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9

Profiles of Leading Valve Manufacturers

in the control and efficient use of steam, while Watson-Mariow Bredel has, through acquisitions and organic growth, become the world's largest manufacturer of peristaltic pumps. Spirax-Sarco's product range, for the control of steam and other industrial fluids, includes pneumatically and electrically actuated control valves, valve positioners, programmable electronic controllers, direct acting pressure reducing and surplussing valves, pilot operated pressure reducing and surplussing valves, self-acting temperature control vah,es, safety valves, check valves, and high temperature cut-outs. Other products include boiler controls and systems, flow meters, steam traps, condensate pumps and energy recovery, pipeline ancillaries, clean steam products, humidifiers and compressed air products, and packaged engineering systems for the heating of water and other liquids.

Key Figures (s million)

Spirax-Sarco Engineering plc Year ended 31 December Turnover Of Which (by Region): UK Continental Europe The Americas Asia, Australasia & Africa Operating Profit

13515 Ballantyne Corporate Place Charlotte NC 28277 USA Tel: +1 704 752 4400 Fax: +1 704 752 4505 Web: www.spx.com

162

2003

2002

2001

314.1

296.4

291.9

39.2 117.4 84.2 73.3 45.8

38.9 106.5 85.4 65.6 42.7

38.9 101.4 87.8 63.9 40.8

SPX Corp is a multi-industry, multi-national corporation with operations in more than 20 countries and approximately 22 200 employees worldwide. Revenues in 2003 amounted to US$5.1 billion I n May 2001, SPX completed the acquisition of United Dominion Industries Ltd (UDI), which almost doubled the size of the company. In September 2001, SPX acquired the UK-based Plenty Group from Smiths Group plc. Based at Newbury, Plenty has sales revenues in excess of US$50 million through the production of strainers, filters, mixers, pumps and pipeline products.

Profile of the International Valve Industry

9 SPX Valves & Controls 411 North Sam Houston Parkway East Suite 500 Houston TX 77060 USA Tel: + 1 281 260 5120 Fax: +1 281 999 3265 Web: www.spxvalves.com

Profiles of Leading Valve Manufacturers

SPX now operates with five business segments: Technical Products and Systems; Industrial Products and Services; Flow Technology; Cooling Technologies and Services; and, Service Solutions. The Flow Technology segment, with sales in 2003 of US$981.8 million, comprises SPX Process Equipment, SPX Valves & Controls, SPX Air Treatment, and Weil-McLain. SPX Valves & Controls, with sales in 2003 of US$280 million, was formed in 2001, to combine the industrial valve businesses of SPX and UDI, which included De Zurik/Copes-Vulcan, Mueller Steam Speciality and CMB Industries. In May 2002, SPX Valves & Controls acquired Daniel Valve Co from Emerson Electric. SPX Valves & Controls, headquartered in Houston, TX, USA, currently sells its products under a range of brands: 9

9

9

9

9 9 9 9

De Zurik- globe, butterfly, gate, plug and rotary control valves and instrumentation for the power generation, paper & pulp, hydrocarbon processing, chemical, mining, and, water and wastewater treatment industries; Copes-Vulcan- globe control valves and steam conditioning equipment for severe service applications in power generation, pulp and paper, water, oil and gas, and petrochemical industries; Mueller Steam Speciality- full range of pipeline and speciality strainers, check valves, butterfly valves and plug valves for HVAC and process industries; Daniel Valve - slab and expanding gate valves, piston, swing and wafer check valves for the hydrocarbon pipeline, storage and distribution markets; F E B C O - backflow prevention assemblies; Polyjet - control valves for power generation, water and wastewater treatment and process industries; K-FIo - butterfly valves fbr power generation, water treatment and industrial applications; Plenty- strainers for marine and industrial applications.

SPX Valves & Controls has manufacturing plants in: Sartell, Minnesota, St Paul's, North Carolina, and Houston, Texas, in the USA; Cambridge, Canada; Monterrey, Mexico; Shanghai, China; while, in the UK, valve production has recently been transferred from Winsford to the Plenty factory at Newbury.

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Profiles of Leading Valve Manufacturers

Key Figures (US$ million)

SPX Corp Year ended 31 December

Revenues Of Which: Flow Technology Operating Income Of Which: Flow Technology

11th Floor, Mitsui Building 1-11-7 UtsuboHommachi Nishi-Ku Osaka 550-0004 Japan Tel: +81 6 6448 4320 Fax: +81 6 6448 4330 Web: www.tomoe.co.jp

2003

2002

2001

5081.5

4822.3

3853.4

981.8 531.7

948.9 609.8

722.8 453.3

163.6

167.7

118.0

Since it was established in Osaka in 1953, Tomoe has become a world leader in the production of butterfly vah,es and actuators. The product range now includes abrasion resistant butterfly valves, chemically resistant butterfly valves, high temperature/high pressure butterfly valves, tight shut-off rubber seated control valves and electric, pneumatic and bespoke actuators. Japanese thctories are located in Konoike, Nishi-Konoike and Miki, where the company employs around 240 people and has sales of around US$73 million. Tomoe established a European headquarters in Newport in 1987 to develop the business in the UK, Europe, Africa, Middle East and North and South America. In 1997, Tomoe Tritec Ltd was formed, alongside the Tomoe Valve facility in Newport, to design and manufacture high pertbrmance triple offset metal seated and rubber seated butterfly valves for use in the oil and gas, petrochemical, and, power industries.

The two UK companies employ around 50 people and have sales of about s million (US$14 million).

90 Pitts Bay Road, 2nd Floor Pembroke HM 08 Bermuda Tel: + 1 441 292 8674 Web: www.tyco.com

164

Tyco International Ltd is a diversified manufacturing and services company, employing almost 260 000 people worldwide, with revenues in the year ended 30 September 2003 ofUS$36.8 billion. The company operates with five industry segments: Fire & Security; Electronics; Healthcare; Engineered Products and Services (EPS); and,

Profile of the International Valve Industry

9

Profiles of Leading Valve Manufacturers

Plastics & Adhesives. The EPS business segment, with revenues in fiscal 2003 of US$4684 million, comprises four business units: Flow Control (accounting for around 50% of EPS revenues); Electrical & Metal Products; Fire & Building Products; and, Infrastructure Services. Tyco Flow Control comprises Tyco Valves & Controls, the largest manufhcturer of valves, actuators and associated flow control products in the world, and, Tyco Thermal Controls, a premier supplier of heat tracing products, services and thermal control systems. Tyco's pre-eminent position in the industrial valve market has been largely based on an aggressive acquisition policy, with its most recent purchases including: the Japanese-based Kitamura Valve Manufacturing Co Ltd; French-based Flow Control Technologies; IMI pie's Safety Systems Group (Bailey Birkett, Amal and Marston Bursting Discs) and Ball Valve Group (Mecafrance and MCF); and, Deutsche Armaturen AG, including Erhard Armaturen. The company's product line now embraces more than 60 individual brands. These brands have been sub-divided, with some overlap, into five distinct product groupings: Industrial Valves; Pressure Relief; Steam & Power; Control & Instrumentation; and, Special Service Valves. In Australia, Tyco Flow Control also manufactures ductile iron and steel pipe, steel pipe fittings, valves and related products primarily tbr the water industry at a number of locations under the trade name Tyco Water. Tyco also manufactures a line of plastic pipe and fittings in Australia and Malaysia. Tyco Flow Control now has 55 manufacturing plants and 219 sales and distribution organizations throughout the world. Leading Tyco brand names include: 9 9 9 9 9 9 9 9 9 9 9 9 9

Anderson Greenwood- pressure relief valves Anderson Greenwood Instrumentation - hand valves, gauge valves, manifolds A V I D - position, control and network monitors, electro-pneumatic and smart positioners Bailey Birkett - safety relief valves Biffi- gas, electric and pneumatic quarter-turn and multi-turn actuators C a s h - pressure relief valves, control valves and pressure regulators Clarkson-slurry valves Crosby - pressure relief valves Descote - globe valves for hazardous fluids Dewrance- parallel slide gate valves F C T - s p l i t body trunnion mounted ball valves Fasani- gate, globe and check valves Gachot- ball, butterfly, gate, globe and needle valves Profile of the International Valve Industry

165

9

Profiles of Leading Valve Manufacturers

9 9

9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9

Gimpel- steam valves G u l f - double-door wafer check valves H a n c o c k - forged steel gate, globe and check valves H i n d l e - ball valves H o v a p - hygienic valves Keystone - resilient seated and high-performance butterfly valves Klein - globe valves KTM - ball valves Kunkle- safety and relief valves L & M Valve- polymer lined knif~ gate valves M C F - three-piece ball valves M o r i n - spring return and double acting quarter-turn actuators Narvik-desuperheaters, sight gauges, sample valves Neotecha- lined butterfly and ball valves and sampling devices Penberthy- liquid level monitoring Prince - wafer swing check valves Raimondi- gate, globe, check and ball valves Richards- ball valves Rovalve- special application knif~ gate and custom designed valves Sapag- safety valves Sempell- valves for high pressure, high temperature and critical media Valvtron- severe service ball valves Vanessa- zero leakage, critical service valves Varec- biogas and vapour control Whessoe Varec- valves fbr vapour recovery and biogas handling W i n n - high-performance butterfly valves Yarway- valves, instruments and steam trap Tyco Flow Control

Manufacturing Plants

Sales & Distribution Organizations

22 14 5 14

23 110 13 36 37

EMEA North America Latin America Asia Pacific

Key Figures (US$ million)

Tyco International Ltd Year ended 30 September

Net Sales Of Which: Engineered Products & Services Operating Income/(Loss) Of Which: Engineered Products & Services

166

Profile of the International Valve Industry

2003

2002

2001

36801.3

35589.8

34002.1

4684.4 3067.0

4709.3 (1452.4)

4170.8 5616.4

355.2

252.5

704.8

9

Via Tortona 69 27055 Rivanazzano (PV) Italy Tel: +39 0383 945911 Fax: +39 0383 945962 Web: www.valvitalia.com

Profiles of Leading Valve Manufacturers

Valvitalia, formed in 2002, is an Italian group of valve and other energy equipment manufacturers, employing around 270 people and with sales in 2003 of E90 million. The Group has its headquarters and a manufacturing plant at Rivanazzano, just south of Milan, with additional production facilities in Vicenza and Padova. Service centre workshops have recently been opened in Cairo, Egypt, and Port Harcourt, Nigeria, with plans to open another in Iran. In addition to the Valvitalia-branded ball and butterfly valves, the group's portfolio of brands include" 9

9

9

9

9

9

7007 C0te-de-Liesse Montreal QC H4T IG2 Canada Tel: +1 514 748 7743 Fax: + 1 514 748 8635 Web: www.velan.com

Delta Valves Europe, based in Rivanazzano, offering side entry and top entry ball valves, fully welded ball valves, cryogenic ball valves, subsea ball valves and plug valves, for the oil and gas and power generation industries; Dyna-Lok (originally formed in 1970), based in Rivanazzano, offering high performance and cryogenic butterfly valves, for chemical, petrochemical, power, oil and gas transmission, petroleum production, water treatment and marine services; Rotor vs (originally formed in 1967), based in Rivanazzano, offering floating ball valves, top entry ball valves, cryogenic ball valves and plug valves, for the oil, gas and petrochemical industries; Thevignot (oiginally fbrmed in 1906) and Vanadour (originally formed in 1957), based in Rivanazzano, offering plug valves and butterfly valves; T o r m e n e Gas Technology (originally formed in 1907), based in Padova, offering side and top entry ball valves, fully welded ball valves, cryogenic ball valves, subsea ball valves, filters, heat exchangers and gas metering and regulating systems, for industrial, civil and power generation applications; Vitas (originally formed in 1965), based in Vicenza, offering gate valves, globe valves, check valves, side entry ball valves, cryogenic valves and pressure seal valves.

Formed in 1949 by AK Velan, the company has grown to become one of the world's leading manufacturers of steel valves with sales in the year ended 31 May 2003 of C$283.5 million (US$202 million). The Group, which employs around 1400 people worldwide, has 108 000m 2 of production space in 13 specialized manufacturing plants. It has six plants in North America, four in Europe, and three in Asia. Profile of the International Valve Industry

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9

Profiles of Leading Valve Manufacturers

Velan also has 62 authorized service and modification facilities around the world. Velan specializes in the production of steel gate, globe and check valves. The company also offi:rs an advanced line of industrial ball valves with metal and resilient seals, as well as high performance all stainless steel knife gate valves, special coker ball valves, a complete range of cryogenic valves, bellows seal valves and triple offset metal-seated butterfly valves. In August 2002, Vclan Valves Ltd, Vclan's UK subsidiary, acquired the business of Plenty Steam Products from General Signal. Plenty Steam Products manufactures a comprehensive range of steam traps, which were the original design of AK Vclan (Vclan had sold the product line to Plenty in 1987). Velan has reported that sales for the nine months to the end of February 2004 are12.2% down on the same period for 2003. Sales have been affected by the change in exchange rates between the US and Canadian dollar, as well as shortages of materials and production difficulties in certain plants.

Key Figures (C$ million)

Velan Inc Year ended 31 May

Sales Earnings before Tax Number of Employees

149 Newlands Road Cathcart Glasgow G44 4EX UK Tel: +44 141 637 7111 Fax: +44 141 637 2221 Web: www.weir.co.uk

2003

2002

2001

283.5 12.0 1402

288.5 27.8 1492

321.4 46.9 1500

Established in 1871, the Weir Group is one of the UK's leading mechanical engineering companies. Listed on the London Stock Exchange since 1947, the Group specializes in the design, manufacture and service of pumps, valves and controls mainly for the power, oil and gas, marine, mineral processing, and, general industrial sectors. The Group, which had sales in 2003 of s million (US$1298 million), operates five divisions: Minerals (pumps and slurry valves); Clear Liquid (pumps and fluid handling systems); Valves & Controls; Services (equipment maintenance, process support and asset management); and, Techna (specialist engineering design and systems integration).

168

Profile of the International Valve Industry

9

Weir Valves & Controls Division PO Box 1327 Wheathouse Road Birkby Huddersfield HD2 2UR UK Tel: +44 1484 820820 Fax: +44 1484 820484 Web: www.weirvalve.corn

Profiles of Leading Valve Manufacturers

Weir Valves & Controls, with sales in 2003 of about s million and employing around 700 people worldwide, is one of the UK's leading valve manufacturers and now produces a comprehensive range of engineered valves under the brand names of Batley Valve, Blakeborough, Hopkinsons, MAC Valves, Flowguard, Atwood & Morrill, Tricentric, SEBIM and Sarisin-RSBD" Batley Valve- Isolation and control butterfly valves Blakeborough - Choke valves, globe control valves, severe service valves and desuperheaters F l o w g u a r d - Pipieline surge absorbers, pulsation dampers, thermal expansion compensators Hopkinsons - Check valves, choke valves, gate valves, globe valves, safety valves

MAC Valves- Ball valves, pipeline check valves and integrated systems, through conduit gate valves Atwood & Morrill- 3-way valves, butterfly valves, check valves, gate valves, globe valves, isolation devices, safety valves Tricentric - Tricentric valves SEBIM - Nuclear safety valves Sarasin-RSBD - Change over valves, flame arresters, low pressure and vacuum valves, pilot operated safety relief valves, pressure relief manhole cover, spring loaded safety relief valves, tank blanketing system Weir Valves & Controls has production facilities at: Huddersfield and Stockport (Flowguard) in the UK; Vendin Le Vieil and Chateauneuf Les Martigues in France; and, Salem, Massachusetts, and Washington, North Carolina, in the USA. As part of its continued development, Weir Valves & Controls has established regional divisional sales offices in China, South Korea, Malaysia and the Middle East. The division also works through Weir Group offices in Canada, South Africa, Australia, India and South America. In late 2003, Weir Valves & Controls USA expanded its product line by obtaining a licence from the William Powell Co of Cincinnati, Ohio, to provide parts for Powell Valves in nuclear power plants. Weir Valves & Controls' sales are predominantly to the power industry: Order

Power General Industrial Oil and Water Other

Intake

2003

2002

55% 17% 26% 2%

60% 17% 22% 1%

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Profiles of Leading Valve Manufacturers

The UK, Europe and Former Soviet Union is the largest market for the Division's products:

UK/Europe/FSU Americas Middle East/Africa Indo Pacific

Order Intake 2003 2002 44% 45% 31% 33% 8% 8% 17% 14%

In 2002, Weir Valves & Controls transferred its valve service operations to the Weir Services Division. Weir Minerals Division is a major manufacturer of slurry pumps, which are complemented by products such as mill liners, hydrocyclones and slurry valves. The knit~ gate slurry valves are marketed under the IsoGate and Warman brand names. Two-piece valves are manufactured in Todmorden, UK, and Madison, Wisconsin, USA. Cheaper one-piece valves are manufactured in Chile and Brazil.

Key Figures (s million)

The Weir Group plc Year ended 31 December

Turnover 1 Of Which: Engineering Engineering Operating Profit Of Which: Engineering Engineering Average Number

Products Services

Products Services of Employees

1 Includes share of joint ventures and associates- s s million in 2002

170

Profile of the International Valve Industry

2003

2002

2001

793.4

841.7

926.7

428.9 188.9 56.4

433.1 165.9 51.1

462.8 151.1 52.1

34.9 20.6 7642

28.5 17.9 7886

25.6 11.7 8444

million in 2003 and

9

"rotate International Building 2-12-9 Shibuya Shibuya-ku Tokyo 150-8316 Japan Tel: +81 3 3486 2011 Fax: +81 3 3409 7388 Web: www.yamatake.com

Profiles of Leading Valve Manufacturers

The company was originally founded in 1906 and began manufacturing control valves in 1933. A technical agreement with Honeywell was signed in 1952 and in 1961 Yamatake-Honeywell stock was listed on the Tokyo Stock Exchange. Technical transfer agreements for control valves were signed with India's Instrumentation Ltd in 1973 and China's Wuzhong Instrument in 1980. In 2000, Yamatake Corp acquired the Cornerstone Division of Hunt Valve Co Inc in Houston, Texas, USA, for improved access to the US ball valve market. In 2002, Yamatake Corp repurchased shares from Honeywell, formally ending the equity relationship between the two companies. Yamatake, employing 7000 people and with net sales in the year ended 31 March 2004 of u billion (US$1.5 billion), now operates with two business segments. On 1 April 2003, the previous Industrial Automation and Control Products businesses were merged into a single Advanced Automation business segment. The other business segment, Building Automation, was renamed Building Systems. The Advanced Automation business segment, with sales in the year ended 31 March 2004 ofu billion (US$683 million), comprises four divisions: Field Instruments; Control Valves; Industrial Automation Systems; and, Control Products. The Control Valves Division, with sales of around u billion (US$71 million), has production and configuration facilities at Shonan, Japan; Dalian, Shanghai and Shenzhen in China; and Houston, Texas, USA. With some 70 years of experience in valve manufacture, Yamatake has installed more than 650 000 control valves (single-seated, double-seated, angle, butterfly and diaphragm) worldwide. It also claims to have developed the world's first valve positioner equipped with a microprocessor, which was launched in 1998. With fully automatic set-up, Yamatake's 'smart' positioner has achieved in excess of 30 000 unit sales. In 2001, Yamatake introduced a field bus valve positioner with selfdiagnostic capabilities. The Building Systems business produces HVAC control valves, where Yamatake has more than 40 years of experience, with in excess of 300 000 Actival motorized control valves having been installed.

Profile of the International Valve Industry

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9

Profiles of Leading Valve Manufacturers

Key Figures (u billion)

Yamatake Corp Year ended 31 March

2004 Net Sales

Of Which: Advanced Automation Operating Income/(Loss) Of Which: Advanced Automation

172

Profile of the International Valve Industry

2003

2002

170.0

168.0

167.2

77.3 6.8

75.5 3.3

4.5

2.6

(2.3)

Directory of Valve Companies

Abacus Valves Ltd Address: Charwell House, Wilsom Rd, Alton, Hampshire GU34 2TJ, UK Tel: +44 1420 544121 Fax: +44 1420 543032 Web: www.abacusvalves.com Production" Unit 8, Omega Park, Wilsom Rd, Alton, Hampshire GU34 2YU, UK Managing Director: Jim Hogg Valve Products: Check ABB KK Address: 6-2-2 Takatsukadai Nishiku, Kobe 651-22, Japan Tel: +81 78 991 5920 Fax: +81 78 991 5900 Web: www.abb.co.jp Valve Products: Control ABV srl Address: Via Bichi 293/a, 55100 S Marco (Lucca), Italy Tel: +39 0583 464296 Fax: +39 0583 462111 Web: www.abvvalves.com Valve Products: Ball AC M e SpA Address: Via Tommaso da Modena 28, 31056 Roncade (TV), Italy Tel: +39 0422 840220 Fax: +39 0422 840923 Web: www.acmospa.com Valve Products: Air Relief, Automatic, Butterfly, Check, Gate, Needle

ACONA Hydraulik GmbH & Co KG Address: Industriestrasse 13, D52134 Herzogenrath, Germany Tel: +49 2407 5 76 0 Fax: +49 2407 5 76 1 01 Web: ~vw.acona.de Valve Products: Check, Globe, Sampling Adams Armaturen GmbH Address: Baukauer Strasse 55, D44653 Herne, Germany Tel: +49 2323 209 0 Fax: +49 2323 209 285/289 Web: www.adams-armaturen.de Additional Factories: Houston, TX, USA; KIosters-Semeus, Switzerland Valve Products: Check, Control, Shut-Off, Throttle Adanac Valve Specialities Ltd Address: 14 Windmill Avenue, Woolpit Business Park, Woolpit, Suffolk IP30 9UP, UK Tel: +44 1420 544121 Fax: +44 1420 543032 Web: x~,cc.adanac.co, uk Valve Products: Check, Ball, Gate, Globe

Adler s r l - Valvole A Sfera Address: Vle Borletti, 20010 Stefano Ticino (MI), Italy Tel: +39 029727 1690 Fax: +39 029727 1698 Valve Products: Ball

Advance Valves Group Address: B-33, Sector-2, Noida 201 301, India Tel: +91 1191 528439 Fax: +91 1191 553225 Valve Products: Butterfly, Check Advanced Valve Technologies Address: Thanet Reach, Millennium Way, Broadstairs, Kent CT10 2, UK Tel: +44 1843 600000 Fax: +44 1843 600333 Web: www.advalve.com Valve Products: Ball, Butterfly

Aeon Pipe Systems Ltd Address: Surrey Technology Centre, Surrey Research Park, Guildford, Surrey GU2 7YG, UK Tel: +44 1483 685160 Fax: +44 1483 573704 Web: ww~:aeon-online.co.uk Valve Products: Gate Aerre Inox srl Address: Via delle Arti 26, 26010 Fiesco (Cremona), Italy Tel: +39 0374 370 828 Fax: +39 0374 370 833 Web: w~vw.aerreinox.it Production Manager: Serse Monfredini 2002 Sales: (~2.65 million No of Employees: 25 Manufacturing Plant Area: 2500 sq m Quality Assurance Certification: ISO 9001

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10 Directory of Valve Companies

Certifiying Body: BVQI Valve Products: Ball, Butterfly, Check, Diaphragm, Needle, Plug, Sampling

Aikawa Valve Co Ltd Address: 465-5 Kanrocho, Hikone-shi, Shiga, 522-0046, Japan Tel: +81 749 28 2311 Fax: +81 749 25 2865 Valve Products: Check, Control, Gate, Globe Airaga Rubinetterie Address: Valduggia Frazione Zuccaro, 13010 Zuccaro (VC), Italy Tel: +39 0163 47851/2 Fax: +39 0163 48189 Web: www.airaga.com No of Employees: 50 2001 Sales: E7.2 million Valve Products: Ball, Gate Air Liquide Address: 18 Quai Jules Guesde, 94407 Vitry sur Seine, France Tel: +33 149 83 56 16 Fax: +33 1 49 83 55 30 Air Torque SpA Address: Via Alia Campagna 1, 24060 Costa di Mezzate (BG), Italy Tel: +39 035 682299 Fax: +39 035 687791 Web: www.airtorque.it Managing Director: Santo Rota Prod uction Manager: Ignazio Paris Marketing Manager: Laura Amadei 2003 Sales of Valves: US$14 million Manufacturing Plant Area: 3300 sq m Quality Assurance Certification: ISO 9001:2000 Certifying Body: LRQA Parent Company: AT, Germany Valve Products: Actuators Akimoto Valve Mfg Co Ltd Address: 5-6-4 Kitamachi, Warabishi, Saitams, 335-0001, Japan Tel: +81 48 443 6811 Fax: +81 48 446 1037

174

Valve Products: Ball, Check, Gate, Globe

AKO Armaturen & Separations GmbH Address: Adam-Opel-Strasse 5, D65468 Trebur, Germany Tel: +49 6147 9159 0 Fax: +49 6147 9159 59 Web: w~.ako-armaturen.de Marketing Manager: Helmut Hessige No of Employees: 12 2003 Sales: E3.2 million CertiFying Body: ISO 9001 Valve Products: Diaphragm, Gate, Knif~ Gate, Pinch AKO Regelungstechnik GmbH Address: Porschestrasse 16, D51381 Leverkusen, Germany Tel: +49 2171 8 20 05 Fax: +49 2171 8 44 76 Web: wv,~v,akoregelungstechnik.de Valve Products: Control, Sati:ty Aksons Mechanical Enterprises Address: 104/105 Todi Industrial Estate, 316 N M ]oshi Marg, Mumbai-400011, India Tel: +91 22 3095803/6046 Fax: +91 22 3087208 Valve Products: Ball, Butterfly, Check, Gate, Globe Alco Italia SpA Address: Viale Lombardia 62, 21040 Castronno (VA), Italy Tel: +39 0332 892 646 Fax: +39 0332 893 583 No of Employees: 72 2002 Sales: E4.9 million Vah,e Products: Check, Gate, Globe Alco Valves (UK) Ltd Address: Mission Works, Birds Royd Lane, Brighouse, West Yorkshire HD6 1LQ, UK Tel: +44 1484 710511 Fax: +44 1484 713009 Web: ~v.alco-valves.com Valve Products: Ball, Check, Needle, Plug

Profile of the International Valve Industry

Alcon/Ives Valves Address: Priory Rd, Aston, Birmingham B6 7LH, UK Tel: +44 121 327 1662 Fax: +44 121 328 2498 Web: www.alconsolenoids.com Manut~acturing Plant Area: 5400 sq m Parent Company: Concentric Controls Ltd Valve Products: Solenoid Alfa Laval Copenhagen AS Address: Soborg, Denmark Tel: +45 39 53 60 00 Valve Products: Ball, Butterfly, Diaphragm, Regulating, Sampling, Sanitary Alfa Valvole Srl Address: Viale del Lavoro 19, 20010 Casorezzo (MI), Italy Tel: +39 02 90296206 Fax: +39 02 90296292 Web: w~av.althvah,ole.it No of Employees: 116 2002 Sales: E19.9 million Manufacturing Plant Area: 24 000 sq m Valve Products: Ball Alingsas Armatur AB Address: PO Box 34, 44121 Alingsas, Sweden Tel: +46 322 12340 Fax: +46 322 10797 Amco Industrial Valves Address: 6 Thandava Murthy St, Royapuram, Chennai 600013, India Tel: +91 44 2590646/25900443/52052172 Fax: +91 44 25901646 Valve Products: Ball, Butterfly, Check, Diaphragm, Gate American Valve Inc Address: 87l 7 West Market St, Greensboro, NC 27425, USA Tel: +1 336 668 0554 Fax: +1 336 668 4070 Web: ww~:americanvalve.com President: Frederick Guterman VP Sales: Seth Guterman Valve Products: Ball

10 Directory of Valve Companies

AMRI Inc Address: 2045 Silber Rd, Houston, TX 77055, USA Tel: +1 713 682 0000 Fax: + 1 713 682 0080 Web: www.amrivalves.com President: William Leech Parent Company: KSB AG, Germany Valve Products: Butterfly, Control, Actuators GS Anderson GmbH Address: Hesslingsweg 71, D44309 Dortmund, Germany Tel: +49 231 9256 0 Fax: +49 231 9256 150 Web: www.andersondortmund.com Managing Director: Guido Speer Production Manager: Klaus-D Schnell Marketing Manager: Guido Speer No of Employees: 50 2003 Sales of Valves: US$10 million Manufacturing Plant Area: 1500 sq m Quality Assurance Certification: DIN EN ISO 9001:2000 Certifying Body: Lloyd's Register & LRQA GmbH Valve Products: Butterfly, Check, Control, Diaphragm, Actuators

Anderson Crosby Instrumentation Address: Corrie Way, Bredbury Industrial Park, Stockport SK6 2SR, UK Tel: +44 161 494 5363 Fax: +44 161 494 5672 Web: www.andersongreenwood.com Parent Company: Tyco International, USA Valve Products: Gauge, Isolation Anderson Greenwood Crosby Valve Address: 43 Kendrick St, Wrentham, MA 02093, USA Tel: + 1 508 384 3121 Fax: +1 508 384 8675 Vice President-Sales North & South America: Edward Neale Parent Company: Tyco International, USA Valve Products: Check, Pressure, Solenoid, Actuators

Anderson, Greenwood & Co Address: 3950 Greenbriar, Stafford, TX 77477, USA Tel: + 1 281 274 4400 Fax: + 1 281 240 1800 President: Gregory Hyland Parent Company: Tyco International, USA Valve Products: Pressure Relief"

AOP Industries Inc Address: 2101 South Broadway, Moore, OK 73160, USA Tel: + 1 405 912 4446 Fax: + 1 405 912 4440 Web: w~v.aopind.com Managing Director: Bill Neimann Production Manager: Bob I~fight No of Employees: 50-100 Manufacturing Plant Area: 75 000 sq m Quality Assurance Certification: ISO 9001 Certifiying Body: API Parent Company: Precision Castparts Corp, USA Valve Products: Ball, Check, Gate, Needle, Actuators

Anderson Greenwood Crosby Address: Crosby Rd, Market Harborough, Leicester LE16 9EE, UK Tel: +44 1858 467 281 Fax: +44 1858 434 728 Web: www.andersongreenwood. com Parent Company: Tyco International, USA Valve Products: Pressure Relief

Apex Controls Co Ltd Address: 15 Jen-Yi St, Wu-Jih Hsiang, Taichung 414, Taiwan Tel: +886 4 23388440 Fax: +886 4 23388441 Web: ~vw.apexcontrols.com.tw Managing Director: David Huang Production Manager: JeffYu No of Employees: 25 including parent company Parent Company: EI Ding

Industrial Valve Co Ltd Valve Products: Ball, Check, Gate, Globe, Needle APV Rosista GmbH Address: Zechenstrasse 49, D59425 Unna, Germany Tel: +49 2303 1 08 0 Fax: +49 2303 1 08 2 10 Web: www.apv.com Parent Company: Invensys pie, UK Valve Products: Ball, Butterfly Check, Control, Globe, Safety A+R Armaturen GmbH Address: Altenhagener Srasse 4a, D-32107 Bad Salzuflen, Germany Tel: +49 5208 91 02 0 Fax: +49 5208 91 02 90 Web: w~av.ar-armaturen.com Valve Products: Ball Arako spol sro Address: Hviezdoslavova 18, 746 01 Opava, Czech Republic Tel: +420 553 694 111 Fax: +420 553 694 777 Web: ,~,~we.arako.cz Web: www.arakovalves.com Commercial Director: Milan Martinek No of Employees: 500 Valve Products: Ball, Gate, Globe

ARCA Flow Group Address: Kempener Strasse 18, D47918 TSnisvorst, Germany Tel: +49 2156 7709 0 Fax: +49 2156 7709 55 Web: ~avw.arca-valve.com Managing Director: Dr Ing R Kaspers Marketing Manager: Claudia Kaspers No of Employees: 350 2003 Sales of Valves: US$55 million Manufacturing Plant Area: 13 000 sq m Quality Assurance Certification: ISO 9001 Certifiying Body: Germanischer Lloyd Valve Products: Butterfly, Control, Globe, Actuators

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175

10 Directory of Valve Companies

ARI-Armaturen Albert Richter GmbH & Co KG Address: Mergelheide 56-60, D33758 Schloss Holte-Stukenbrock, Germany Tel: +49 5207 994 0 Fax: +49 5207 994 158 Web: ~vw.ari-armaturen.com Valve Products: Butterfly, Check, Control, Manual Stop, Pressure Reducing, Safety, Actuators Ario SA Address: 10 Industriei St, 420063 Bistrita, Romania Tel: +40 263234473 Fax: +40 263234008 Web: www.ario.ro Managing Director: IV Gazdac Production Manager: G Medesi Marketing Manager: A Balan No of Employees: 500 2003 Sales of Valves: US$10 million Quality Assurance Certification: DIN EN ISO 9001 Certifiying Body: SGS UK Ltd Systems & Services Valve Products: Ball, Check, Gate, Globe ARMAGUS JSC Address: 4 Rudnitskoy Str, GusChrustalny 601501, Russia Tel: +7 9241 24205/23241/23902 Web: ~wv armagus.ru Valve Products: Control, Diaphragm, Gate, Globe, Safety ARMALIT-1 JSC Address: 2 Tretbleva Str, St Petersburg 198097, Russia Tel: +7 812 2527790 Fax: +7 812 2525378 Web: www.armalit.com Valve Products: Butterfly, Gate, Globe, Safizty

Armaturenwerk Altenburg GmbH Address: Am Weissen Berg 30, D04600 Altenburg, Germany Tel: +49 3447 8930 Fax: +49 3447 81110 Web: www.awa-armaturenwerk.de

176

Managing Director: Karl-Fritz Jordan Production Manager: Gerald Hertel Marketing Manager: Jiirgen Dobmaier No of Employees: 90 2003 Sales of Valves: US$10 million Manut3cturing Plant Area: 5000 sq m Valve Products: Check, Shut-Off

USA Tel: + 1 781 321 5409 Fax: +1 781 321 4421 Web: www.asahi-america.com VP Engineering, Valves & Actuation: Leo Lester Parent Company: Asahi Organic Chemicals Industry Co, Japan Valve Products: Butterfly, Check, Diaphragm, Gate, Globe, Pressure Relief, Thermoplastic Bail, Actuators

Armatury Group as Address: Bolatick~, 74721 ~'avaie, Czech Republic Tel: +420 553 680 111 Fax: +420 553 680 333 Web: www.armaturygroup.cz Additional Factory Location: Dolni Benegm; Czech Republic No of Employees: 323 (2002) Valve Products: Ball, Butterfl}; Gate, Metallurgical, Special

Asco (India) Ltd Address: 147 Karapakkam Village, Chennai 600 096, India Tel: +91 44 2450 4200 Fax: +91 44 2450 1056 Web: www.sanmargroup.com Parent Company: Emerson Electric Co/The Sanmar Group JV Valve Products: Solenoid

Arpita Enterprise Address: Plot 1201, Phase IV, GIDC Vithal Udyognagar, Anand, India Tel: +91 2692 236187 Fax: +91 2692 236311 Web: w~v.floval.com Managing Director: Paresh Thakar Production Manager: Vijay V Parekh Marketing Manager: KP Nair No of Employees: 38 Manufacturing Plant Area: 10 000 sq m Quality Assurance Certification: ISO 9001 Certifiying Body: QCB-Canada Valve Products: Check ARZIL JSC Address: 18 Chugurina Str, Georgievsk, Stavropolsky Region 357806, Russia Tel: +7 87951 24382/24447 Fax: +7 87951 24435 Valve Products: Globe, Gate, Check Asahi/America Inc Address: 35 Green St, PO Box 653, Malden, MA 02148-0134,

Profile of the International Valve Industry

Asco Joucomatic Ltd Address: 2 Pit Hey Place, West Pimbo, Skelmersdale, Lancs WN8 9PG, UK Tel: +44 1695 713600 Fax: +44 1695 713633 Web" www.ascojoucomatic.com No of Employees: 218 2003 Sales: s million Parent Company: Emerson Electric Co, USA Valve Products: Pressure Operated, Solenoid, Actuators

Asco Joucomatic SA

Address: 32 Avenue Albert ler, BP

312, 92506 RueiI-Malmaison Cedex, France Tel: +33 1 47 14 32 00 Fax: +33 1 47 08 53 85 Web: ~vw.ascojoucomatic.com Managing Director: Jean-Pierre Marchant Marketing Manager: Jean-Louis TCIIH

Production blanager: Bernard Roger Quality Assurance Certification: ISO 9001 Version 2000 Ccrtifiying Body: AFAG Parent Company: Emerson Electric Co, USA

10 Directory of Valve Companies

Valve Products: Diaphragm, Pinch, Pressure, Solenoid ASCO Valve Inc Address: 50-60 Hanover Rd, Florham Park, NJ 07932, USA Tel: + 1 973 966 2000 Fax: +1 973 966 2448 Web: www.ascovalve.com President: Jean-Pierre Yaouanc Parent Company: Emerson Electric Co, USA Valve Products: Solenoid ASP GmbH Address: Uckendorfer Strasse fi862, D-44866 Bochum, Germany Tel" +49 2327 983 50 Fax: +49 2327 840 74 Web: www.asp-armaturen.de Valve Products: Butterfly, Check, Gate, Globe .o

Asteknik Valve- Elmak Mac Ind & Trade Co Address: Mustafakemalpasa, Organize Sanayi Bolgesi, 16500 Bursa, Turkey Tel: +90 224 632 5260 Fax: +90 224 632 5267 Web: www.asteknikvana.com Foreign Trade Manager: Elif Akdemir No of Employees: 60 2003 Sales of Valves: US$4 million Manufacturing Plant Area: 6000 sq m Quality Assurance Certification: ISO 9001:2000, CE, GOST- R Certifiying Body: Bureau Veritas Valve Products: Butterfly A-Sung Plastic Valve Co Ltd Address: A-Sung Building, 4th Floor, Kuro-Dong, Kuro-Ku, Seoul 152-060, South Korea Tel: +82 2 671 1900 Fax: +82 2 671 5687 Web: www.asungvalve.com Factory Location: Banwol Industrial Complex 89-76, WonsiDong, Ansan, 425 090 KyonggiDo, South Korea President: Hyoung-Soo Kim Valve Products: Ball, Butterfly, Check, Diaphragm, Gate, Globe

Atton International (S) Pte Ltd Address: 11 Tuas Avenue 1, Singapore 639 496, Singapore Tel: +65 861 8586 Fax: +65 861 9708 Web: www.alton.com.sg Valve Products: Ball, Butterfly, Check, Gate, Globe, Needle, Plug, Actuators Atval (Pty) Ltd Address: PO Box 739, Alberton 1450, South Africa Tel: +27 11 827 3554 Fax: +27 11 827 0879 Web: w~v.atval.co.za Managing Director: Ted Atkins Production Manager: Mark Atkins Marketing Manager: Ted Atkins No of Employees: 40 2003 Sales of Valves: US$3.3 million Manufacturing Plant Area: 2000 sq m Quality Assurance Certification: ISO 9001 2000 compliant Valve Products: Check, Diaphragm, Gate, Pinch, Actuators Audco India Ltd Address: Mount Poonamallee Rd, PB 976, Manapakkam, Madras600089, India Tel: +91 44 234 2323 Fax: +91 44 234 5055 Additional Factory Locations: Nagor, Kancheepuram Chief Executive: K Surendra Valve Products: Check, Gate, Globe Auld Valves Ltd Address: Cowlairs Industrial Estate, Finlas St, Glasgow G22 5DQ, UK Tel: +44 141 557 0515 Fax: +44 141 558 1059 Web: www.auldvalves.com Valve Products: Control, Pressure Reducing, Safety AUMA Actuators Inc Address: 100 Southpointe Blvd, Canonsburg, PA 15317, USA Tel" +1 724 743 2862 Fax" + 1 724 743 4711

Web: w~av.auma-usa.com Manufacturing Plant Area: 3200 sq m in USA No of Employees: 93 in USA, 1200 Worldwide Quality Assurance Certification: ISO 9001 Certifying Body: UL in USA Parent Company: Auma Riester GmbH & Co, Germany Valve Products: Actuators AUMA Werner Riester GmbH & Co KG Address: Renkenrunsstrasse 20, D79379 Miillheim/Baden, Germany Tel: +49 7631 809 0 Fax: +49 7631 809 250 Web: wwx~:auma.com Managing Director: Mathhias Dinse Production Manager: Joachim Rist Marketing Manager: Markus Zeller No of Employees: 1250 2003 Sales of Valves: US$175 million Quality Assurance Certification: ISO 9001, ISO 14001 Certifying Body: TUV Valve Products: Actuators

ATI (Automation Technology Inc) Address: PO Box 310, Industry, TX 78944, USA Tel: +1 979 357 2570 Fax: +1 979 357 2571 Web: x~a~av.atiactuators.com VP Sales & Marketing: Gary Robbins Production Manager: John Guidry No of Employees: 24 Quality Assurance Certification: ISO 9001 Valve Products: Actuators AV Valves Ltd Address: 16 Industrial Estate, Nunhai, Agra 282 006, India Tel: +91 562 345218 Fax: +91 562 345217 Managing Director: SK Jain Production Manager: Anil Bhardwaj Marketing Manager: Anil Sharma

Profile of the International Valve Industry

177

10 Directory of Valve Companies

No of Employees: 198 Manufacturing Plant Area: 5200 sq m Valve Products: Ball, Check, Gate, Globe A V F - Astore Valves and Fittings srl Address: Via Tangoni 26, 16030 Casarza Ligure (GE), Italy Tel: +39 0185 466892 Fax: +39 0185 466894 Web: www.astore.it No of Employees: 69 2002 Sales: E13.3 million Parent Company: Glynwed International plc, UK Valve Products: Ball, Butterfly AVK Mittelmann Armaturen GmbH Address: Schillerstrasse 50, D42489 Wiilfrath, Germany Tel: +49 2058 9 01 01 Fax: +49 2058 9 01 1 11 Web: ~vw.mittelmann.com Parent Company: AVK Holding A/S, Denmark Valve Products: Butterfly, Check, Gate, Globe AWH - Armaturenwerk Halle GmbH Address: Turmstrasse 118-123, D06110 Halle, Germany Tel: +49 345 20 55 0 Fax: +49 345 20 55 3 00 Parent Company: ARI-Armaturen Group Valve Products: Actuators AWP Kiilte-Klima-Armaturen GmbH Address: Gewerbegebiet OstStrasse A1, D- 17291 Prenzlau, Germany Tel: +49 3984 85 59 0 Fax: +49 3984 85 59 18 Web: www.awpvalves.com Managing Director: Lars Zimmermann Production Manager: Thomas Strotkoetler Marketing Manager: Lars Zimmermann No of Employees: 75

178

Manufacturing Plant Area: 10 000 sq m Quality Assurance Certification: ISO 9001/2000 PED Valve Products: Check, Control, Globe, Needle Ayvaz EndOstriyei Mamuller Sanayi ve Ticaret A~ Address: Necatibey Cad Ayvaz Han No 207, Kat 4, TR-80030 Karakoy-Istanbul, Turkey Tel: +90 212 293 56 10 Fax: +90 212 249 89 68 Web: x~vw.ayvaz.com Valve Products: Ball, Butterfly, Check, Non-Return AZ Armaturen GmbH & Co KG Address: Waldstrasse 7, D-78087 M/~nchweiler, Germany Tel: +49 7721 7504 0 Fax: +49 7721 7504 13 Web: x~a,w.az-armaturen.de Managing Director: Dipl Ing Gerhard Wisser No of Employees: 75 2002 Sales: E8 million Valve Products: Ball, Butterfly, Plug, Actuators AZ Valves (Pty) Ltd Address: PO Box 3862, Kempton Park 1620, South Africa Tel: +27 11 397 3665 Fax: +27 11 397 3803 Web: www.azvalves.com Marketing Manager: Trevor Eiske No of Employees: 25 2003 Sales of Valves: US$1.6 million Manufhcturing Plant Area: 850 sq m Parent Company: AZ Armaturen, Germany Valve Products: Plug Babcock Borsig Espafia SA Address: Carretera de Ugarte s/n, 48510 Galindo Vizcaya, Spain Tel: +34 94 4728000 Fax: +34 94 4728036 Web: x~v.bbe.es Valve Products: Butterfly, Check, Gate, Globe

Profile of the International Valve Industry

BAC Valves SA Address: Tapis 126, 17600 Figueres, Spain Tel: +34 972 67 70 52 Fax: +34 972 67 71 81 Web: www.bacvalves.com Managing Director: E Bach Production Manager: E Marti Marketing Manager: E Bermal No of Employees: 80 2003 Sales: US$20 million Manuf~,cturing Plant Area: 7000 sq m Quality Assurance Certification: ISO 9001-2000 Certit~,ing Body: Bureau Veritas Valve Products: Ball, Butterfly Bailey Japan Co Ltd Address: 511 Baraki, Nirayamacho, Tagata-gun, Shizuoka 4102193, Japan Tel: +81 559 49 3311 Fax: +81 559 49 1114 President: Kazuoki Yamada No of" Employees: 257 2003 Sales: u million Valve Products: Control Balon Corp

Address: 3245 S Hattie, Oklahoma City, OK 73129, USA Tel: +1 405 677 3321 Web: wx~v.balon.com Valve Products: Ball, Check, Needle W Bfilz & S o h n GmbH & Co

Address: Koepflbtrasse 5, D-74076 Heilbronn, Germany Tel: +49 7131 15 O0 0 Fax: +49 7131 15 00 21 Web: w,a~,.baeiz.de Valve Products: Control Banides et Debeaurain Address: route d'Eu, BP 43, 76470 Le Treport, France Tel: +33 2 35 86 05 00 Fax: +33 2 35 50 62 56 Web: w~v.banides-debaurain.fi" Valve Products: Ball, Butterfly, Gate, Safety

10 Directory of Valve Companies

Baoyi Valve Group Co Ltd Address: Oubei Third Bridge Industrial Estate, Wenzhou 325105, China Tel: +86 577 6737 1122 Fax: +86 577 6731 5333 Web: www.baoyi.com Managing Director: Zhang Liao Dong Production Manafer: Zhang Liao Gill Marketing Manager: Zhang Liao Chun Export Manager: James Jin No of Employees: 300 2003 Sales of Valves: US$14.5 million Manufacturing Plant Area: 15 000 sq m Valve Products: Ball, Butterfly, Check, Gate, Globe, Plug, Strainer Bar GmbH Address: Aufder Hohl, D-53547 Dattenberg, Germany Tel: +49 2644 9607 0 Fax: +49 2644 9607 35 Web: www.bar-gmbh.com Managing Director: Dipl-Ing Manfred Heise Valve Products: Control, Actuators Barber Industries Address: 8743 - 50th Avenue, Edmonton, Alberta, Canada T6E 5H4 Tel: + 1 780 450 3401 Fax: +1 780 450 3412 Web: www.barberind.com President: John Secrest Manufacturing Plant Area: 73 000 sq ft No of Employees: 75 Sales: US$12.2 million (2003) Parent Company: John Wood Group pie, UK Valve Products: Safety, Actuators Bardiani Valvole SpA Address: via G di Vittorio 50/52, 43045 Fornovo Taro- Parma, Italy Tel: +39 0525 400044 Fax: +39 0525 3408 Web: ~s~:bardiani.com No of Employees: 58

2002 Sales: ~8.4 million Valve Products: Ball, Butterfly, Pressure Relief

Baronshire Engineering Ltd Address: Thornliebank Industrial Estate, Thornliebank, Glasgow G46 8 H Z, UK Tel: +44 141 638 8138 Fax: +44 141 638 8588 Web: ~ ~ , . baronshirevalves.com Managing Director: Ian Steel Parent Company: Precision Castparts Corp, USA Valve Products: Ball, Butterfly, Check, Actuators Fritz Barthel Armaturen GmbH & Co KG Address: Klopstockplatz 5-7, D22765 Hamburg (Ahona), Germany Tel: +49 40 39 82 02 0 Fax: +49 40 390 52 46 Web: ~~:barthel-armaturen.de No of Employees: 80 Valve Products: Bleed, Butterfly, Plug, Shut-Off, Slide

BAVCOS (Bok Soong-A Valve Co Ltd) Address: 99- l Hyangsan-ri, Gochon-Myun, Kimpo, Kyunggido, South Korea Tel: +82 31 986 6600-3 Fax: +82 31 986 6604-5 Web: w~v.bavcos.com Valve Products: Ball, Check Bayard SA Address: Z I - 4, ave Lionel Terray, 69881 Meyzieu, France Tel: +33 4 37 44 24 24 Fax: +33 4 37 44 24 25 Web: w~w~,,bayard, fr Parent Company: Tyco International, USA Valve Products: Butterfly, Check, Control, Gate, Plug, Pressure Relief, Safi:ty, Solenoid

BDK Process Equipment Inc Address: 47/48 Gokul Rd, Hubli 580 030, Karnataka, India Tel: +91 836 2331499/2333930 Fax: +91 836 2330799/2330899 Web: www.bdkindia.com Valve Products: Ball, Butterfly, Check, Diaphragm, Gate, Globe, PFA Lined, Plug, Actuators Harold Beck & Sons Inc Address: 2300 Terry Drive, Newtown, PA 18940, USA Tel: + 1 215 968 4600 Fax: + 1 215 968 6483 Web: www.haroldbeck.com President: Douglas Beck Valve Products: Actuators

G Bee Apparatebau GmbH & Co Vertriebs-GmbH Address: Bahnhofstrasse 157, D74321 Bietigheim-Bissengen, Germany Tel: +49 7142 598 0 Fax: +49 7142 535 19 Web: w~v.g-bee.de Valve Products: Ball BEL Valves Address: Glasshouse St, St Peters, Newcastle-Upon-Tyne NE6 1BS, UK Tel: +44 191 265 9091 Fax: +44 191 276 3244 Web: w~.belvalves.co.uk Parent Company: British Engines Ltd, UK Valve Products: Check, Gate, Globe, Actuators Beligcast Internacional SL

Address: B ~ Zabalondo 3 l, E48100 Mungia, Vizcaya, Spain

Tel: +34 94 488 91 20 Fax: +34 94 488 91 25 Web: www.belgicast.es No of Employees: 237 2002 Sales: (~50 million Parent Company: Tyco International, USA Valve Products: Butterfly, Check, Gate

Profile of the International Valve Industry

179

10 Directory of Valve Companies

Belgium Ventiel NV Address: Blokhuisstraat 24, B2800 Mechelen, Belgium Tel: +32 1529 4070 Fax: +32 1520 1413 Web: www.belgiumventiel.com Managing Director: R Van Keilegom Production Manager: M Goos Marketing Manager: L Van Keilegom No of Employees: 100 2003 Sales of Valves: US$20 million Manufacturing Plant Area: 10 000 sq m Quality Assurance Certification: ISO 9001,CE, PED Certifying Body: TOV Parent Company: ROGA Holding Valve Products: Ball, Butterfly, Check, Actuators Berluto Armaturen GmbH Address: Tempelsweg 16, D47918 T6nisvorst, Germany Tel: +49 2151 70 38 0 Fax: +49 2151 70 07 63 Web: www.berluto.de No of Employees: 28 2003 Sales: E2.3 million Valve Products: Ball, Butterfly, Check, Contxol Bernard Controls Inc Address: 15740 Park Ro~; Suite 100, Houston, TX 77084, USA Tel: +1 281 578 6666 Fax: +1 281 578 2797 Web: ~ w . bernardcontrols.com Valve Products: Actuators Besa Ing Santangelo SpA Via Donatello 31/33, 21013 l Milano, Italy Tel: +39 02 70634720 Fax: +39 02 2363996 Web: www.besa.it No of Employees: 29 2002 Sales: E2.05 million Valve Products: Pressure Relief, Safi:ty Bestobell Valves Ltd Address: President Park, President Way, Sheffield $4 7UR, UK

180

Tel: +44 114 224 0000 Fax: +44 114 278 4974 Web: w~av.bestobellvalves.com Sales & Marketing Director: Andrew Hinton Manufacturing Plant Area: 60 000 sq f~ Parent Company: Flow Industries Ltd, UK Valve Products: Ball, Butterfly, Check, Control, Gate, Globe, Safety Bettis Corp Address: 18703 GH-Circle, Waller, TX 77484, USA Tel: + 1 281 727 5300 Fax: + 1 281727 5353 President: Norm Quam Web: ~,~:emersonprocess.com/ vah,eautomation/bettis Manuthcturing Plant Area: 145 000 sq ft Parent Company: Emerson Electric Co, USA Valve Products: Actuators Bettis UK Ltd Address: 3 Furze Court, Wickham Rd, Fareham, Hampshire PO16 7SH, UK Tel: +44 1329 848900 Fax: +44 1329 848901 Web: x~av.emersonprocess.com Parent Company: Emerson Electric Co, USA Valve Products: Actuators Bharat Heavy Electricals Ltd (BHEL) Address: BHEL House, Siri Fort, New Delhi 110 049, India Tel: +91 11 26001010 Fax: +91 11 26493021 Web: w~av.bhel.com Director (Power Division): AK Purl Valve Products: Gate, Globe, NonReturn, Relief, Satiety Biar SA Address: 5 rue des Epineys, CH1948 Lourtier, Switzerland Tel: +412777911 11 Fax: +412777911 12 President: Guy Masson

Profile of the International Valve Industry

Production Manager: J-M Masson Marketing Manager: Mr Eigelsreiter No of Employees: 5 Quality Assurance Certification: ISO 9001 Certifi, ing Body: TOV Parent Company: Biar Inc Valve Products: Sampling Bingo Valve Co Ltd Address: 640-6 Tode, Shin-ichicho, Ashina-gun, Hiroshima 7293101, Japan Tel: +81 847 52 2198 Fax: +81 847 52 2359 Valve Products: Check, Gate, Globe BiS Valves Ltd Address: Unit 17& 19 Kingfisher Park, Three Cross Rd, Wimborne, Dorset BH21 6US, UK Tel: +44 1202 896322 Fax: +44 1202897272 Web: x~av. bisvalves.co, uk Valve Products: Check, Control, Safety Blackhall Engineering Ltd Address: Bradfbrd Rd, Brighouse, West Yorkshire HD6 4DJ, UK Tel: +44 1484 713717 Fax: +44 1484 400155 Web: w~v.blackhall.co.uk Valve Products: Butterfly, Check, Control, Gate, Globe, Needle, Plug, Sal~ty

Blagoveshchensky Valve Plant JSC Address: 1 Sedova Str,

Blagoveshchensk, Bashkortostan 453430, Russia Tel: +7 34766 2 ] 985/2 ] 357/2 ] 203/22067 Fax: +7 34766 21378 Valve Products: Check, Gate, Globe, Safi:ty Werner B6hmer GmbH Maschinenfabrik Address: Gedulderweg 95, D45549 Sprockh6vel, Germany Tel: +49 2324 70 01 0 Fax: +49 2324 70 01 79

10 Directory of Valve Companies

Web: www.boehmer.de Valve Products: Ball

Bola-Tek Manufacturing Co Ltd Address: PO Box 35-78, Taichung 404, Taiwan Tel: +886 4 2234 8000 Fax: +886 4 2234 9000 Web: www.bola-tek.com.tw No of Employees: 50 2003 Sales of Valves: US$4.5 million Quality Assurance Certification: ISO 9002 Valve Products: Ball Christian Bollin Armaturenfabrik GmbH Address: Westerbachstr 290-294, D-65936 Frankfurt, Germany Tel: +49 69 34 10 21 Fax: +49 69 34 39 85 Web: www.bollin.de Managing Director: Bernd Fiade No of Employees: 25 2003 Sales of Valves: US$4.5 million Manufacturing Plant Area: 1500 sq m Quality Assurance Certification: ISO 9001, AD 2000-HPO Valve Products: Globe, Needle, Pressure Cesare Bonetti SpA Address: Via Cesare Bonetti 17, 20024 Garbagnate Milanese (MI), Italy Tel: +39 02 990721 Fax: +39 02 99072400 Web: www.cesare-bonetti.i t Managing Director: Giuseppe Dalmasso Production Manager: Franco Longo Marketing Manager: Renzo Ciccarelli Manufacturing Plant Area: 21 400 sq m covered; 44 300 sq m open No of Employees: 150 2003 Sales: US$22.2 million Valve Products: Bail, Blowdown, Check, Gate, Globe, Needle

Bopp & Reuther Sicherheitsund Regelarmaturen GmbH Address: Carl-Reuther-Str 1, 68305 Mannheim, Germany Tel: +49 621 749 0 Fax: +49 621 749 1310 Web: ~avw.sr.boppureuther.com Managing Director: H Hirner Production Manager: Mr Bickei Marketing Manager: Mr Kaeppele No of Employees: 203 2003 Sales of Valves: US$36 million Manufacturing Plant Area: 135 000 sq m Parent Company: IWKA AG, Germany Valve Products: Safety Relief Bray Controls (UK) Address: 16-18 Fountain Crescent, Inchinnan Business Park, Inchinnan PA4 9RE, UK Tel: +44 141 812 5199 Fax: +44 141 812 6199 Web: ~x~s~:bra):com No of Employees: 26 2002 Sales: s million Parent Company: Bray International Inc, USA Valve Products: Ball, Butterfly, Check, Control, Actuators Braunschweiger Flammenfilter GmbH Address: Industriestrasse 11, D38110 Braunschweig, Germany Tel: +49 5307 8090 Fax: +49 5307 7824 Web: www.protego.de No of Employees: 175 2003 Sales: (~23 million Valve Products: Pressure Relief, Safety Bremer SpA Address: Via Riviera 36, 20048 Carate Brianza (MI), Italy Tel: +39 0362 991128 Fax: +39 0362 902542 No of Employees: 60 2002 Sales: E3.1 million Valve Products: Ball

Rubinetterie Bresciane Bonomi SpA Address: Via Industriale 30, 25065 Lumezzane SS (BS), Italy Tel: +39 030 8250011 Fax: +39 030 8920465 Web: www.bonomi.it Web: www.rubinetteriebresciane.it President/General Executive Manager: Aldo Bonomi No of Employees: 167 2002 Sales: (~4.2 million Parent Company: Bonomi Group Valve Products: Ball, Check, NonReturn Brews Actuation Address: 4910 Builders Rd SE, Calgary, Alberta T2G 4C6, Canada Tel: + 1 403 243 1100 Fax: + 1 403 243 9682 President: Peter Brews Valve Products: Actuators

Broady Valves Ltd Address: English St, Kingston Upon Hull, East Yorkshire HU3 2DU, UK Tel: +44 1482 619600 Fax: +44 1482 619700 Web: ~avw.broady.co.uk Valve Products: Marine, Safety Broen AIS Address: Skovvej 30, DK-5610 Assens, Denmark Tel: +45 6471 2095 Fax: +45 6471 3396 Web: www.broen.com No of Employees: 350 Parent Company: Aalberts Industries NV, The Netherlands Vah,e Product Types; Ball

Brooksbank Valves Address: Sackville St, Skipton, North Yorkshire BD23 2PS, UK Tel: +44 1756 792346 Fax: +44 1756 792347 Valve Products: Ball

Profile of the International Valve Industry

181

10 Directory of Valve Companies

Brunnbauer-Armaturen Produktionsgesellschaft mbH Address: A- 1234 Wien, Akaziengasse 36, POB 63, Austria Tel: +43 1 699 96 00-0 Fax: +43 1 699 96 40 Web: www.brunnbauer.at Managing Director: Mr Ambruschitz Additional Factories: Budapest, Hungary; Uhersky Brod, Czech Republic Valve Products: Ball, Butterfly, Check, Gate, Globe, Safety Bryne Mekanikk Serigstad AS Address: Nordlysvegen l, Postbox 25, 4349 Bryne, Norway Tel: +47 51 77 21 40 Fax: +47 51 77 21 41 Web: www.bm.no No of Employees: 51 2002 Sales: NKa'71.4 million Parent Company: Breidablikk AS Valve Products: Control, Pressure BTG Pulp & Paper Sensors AB Address: Industrigatan, Box 602, SE-661 29 S~iffle, Sweden Tel: +46 533 426 00 Fax: +46 533 125 00 Web: www.btg-group.com No of Employees: 116 2002 Sales: SKa'159.4 million Parent Company: BTG Group, Switzerland (uhc Spectris pie, UK) Valve Products: Control Bueno Enterprise Co Ltd Address: No 1, 22th Rd, Taichung Industrial Park, Taichung, Taiwan Tel: +886 4 23598766 Fax: +886 4 23598755 Web: w~v.buenoeco.com Valve Products: Ball Bunkaboeki Kogyo Co Ltd Address: 1 - 11-11 Saga, Kota-ku, Tokyo 135-0031, Japan Tel: +81 3 5620 1890 Fax: +81 3 5620 1895 Web: wv,~v.bbk.co.jp Valve Products: Check, Globe, Pressure

182

Buracco SA Address: l 0 rue de Verdun, BP 6, F-71301 Montceau les Mines Cedex, France Tel: +33 3 85 67 31 20 Fax: +33 3 85 57 06 82 Web: ~,~v.buracco.com Managing Director: JC Ribier Production Manager: A Guichad Sales Director: JP Gauthier No of Employees: 55 2003 Sales of Valves: US$8 million Manufacturing Plant Area: 5000 sq m Quality Assurance Certification: ISO 9001 Certit~,ing Body: BVQI Valve Products: Butterfly, Check, Gate Erwin Burbach Mashinenfabrik GmbH Address: Florastrasse 18, D-51674 Wiehl, Germany Tel: +49 2262 83 0 Fax: +49 2262 83 30 Web: ~'w.burbach-armaturen.de Parent Company: Tyco International, USA Valve Products: Control, Gate Bur~elik Valve Co Address: Ata Center, Ahi Evren Cad K:3, 80870 Maslak/Istanbul, Turkey Tel: +90 212 286 66 40 Fax: +90 212 286 66 44 Web: v,~v. burcelik.com.tr Managing Director: Renan Komurcuoglu Production Manager: Ilhami Guzey Marketing Manager: Ayhan Ozturk No of Employees: 70 2003 Sales of Valves: US$6 million Manuthcturing Plant fia'ea: 7000 sq m Valve Products: Ball, Butterfly B~irkert GmbH & Co KG Fluid Control Systems Address: Christian-Bfirkert-Strasse 13-17, D-74653 Ingelfingen, Germany Tel: +49 7940 10 0 Fax: +49 7940 10 3 61 Web: w~v.burkert.com

Profile of the International Valve Industry

Valve Products: Ball, Butterfly, Globe Biirkert Fluid Control Systems Address: Brimscombe Port Business Park, Brimscombe, Stroud GL5 2QF, UK Tel: +44 1453 731353 Fax: +44 1453 73134 3 Web: www.burkert.co.uk Quality Assurance Certification: ISO 9001:2000 Certi~ing Body: UKAS Parent Company: Bfirkert GmbH, Germany Valve Products: Ball, Butterfl}; Control, Diaphragm, Gate, Globe, Pinch, Plug, Actuators Caleffi SpA Address: Strada Statale 229, 28010 Fontaneto d'Agogna (NO), Italy Tel: +39 0322 8491 Fax: +39 0322 863305 Web: www.caleffi.it Managing Director: Mario Calefti Production Manager: S Zaninetti No of Employees: 650 Manufacturing Plant Area: 45 000 sq m Quality Assurance Certification: ISO 9001, DIN EN Certil~,ing Body: IQNET Parent Company: Calefli SpA, Italy Valve Products: Ball, Check, Control, Pressure, Actuators Calobri srl Address: Via Giacomo Leopardi 10, 20019 Settimo Milanese (MI), Italy Tel: +39 02 3282951 Fax: +39 02 3281558 Web: w~'.calobri.com Valve Products: Check, Gate, Globe Cameron Willis Ireland Ltd Address: Aghafad, Longford, Ireland Tel: +353 43 45301 Fax: +353 43 41560 Managing Director: Bob Walker Parent Company: Cooper Cameron Corp, USA Valve Products: Actuators

10 Directory of Valve Companies

Canle Valves PVT Ltd Address: 18/3-4 Menambedu Rd, Padi, Chennai 600 050, India Tel: +91 44 6357320 Fax: +91 44 6357320 Valve Products: Ball, Check, Gate, Globe Carraro Srl Address: Via Enrico Fermi 22, 20090 Segrate (MI), Italy Tel: +39 02 2699121 Fax: +39 02 26922452 Web: www.carrarovalvole.it Managing Director: T Carraro Production Manager: Giovanni Carraro Marketing Manager: Claudio Gazzola No of Employees: 50 2003 Sales of Valves: US$7 million Manufacturing Plant Area: 12 000 sq m Quality Assurance Certification: Vision 2000 Valve Products: Control, Globe, Pressure Officina Fonderia Cerrese Eugenio Carugo Sas Address: Via S Clemente 55, 20023 Cerro Maggiore (MI), Italy Tel: +39 0331 519200 Fax: +39 0331 420240 Cashco Inc Address: 607 West 15 th, Ellsworth, KS 67439, USA Tel: + 1 785 472 4461 Fax: +1 785 472 3539 Web: w~av.cashco.com Sales Manager: Bob Schroeder Valve Products: Butterfly, Control, Globe, Plug Cazzaniga SpA Address: Via Parco, 20046 Biassono (MI), Italy Tel: +39 039 49861 Fax: +39 039 4986222 CCI (Control C o m p o n e n t s Inc) Address: 22591 Avenida Empresa, Rancho Santa Margarita, CA 92688, USA Tel: +1 949 858 1877

Fax: +1 949 858 1878 Web: www.ccivalve.com President: Stuart Carson No of Employees: 300--400 Parent Company: IMI pie, UK Valve Products: Check, Control, Globe, Pressure, Solenoid, Actuators

CCl AG Address: Im Link II, PO Box 65, 8404 Winterthur, Switzerland Tel: +41 52 264 95 00 Fax: +41 52 264 95 01 Web: www.ccivalve.com Parent Company: CCI, USA (uhc - I M I pie, UK) Valve Products: Check, Control, Globe, Pressure, Solenoid, Actuators CCl KK Address: 4-15-20 Shukunosho, Ibaraki City, Osaka 567-0051, Japan Tel: +81 726 41 7197 Fax: +81 726 41 7198 Web: www.ccivalve.com Parent Company: CCI, USA (uhc - I M I pie, UK) Valve Products: Check, Control, Globe, Pressure, Solenoid, Actuators

CCI Valve Technology AB Address: SB-603, 661 29 S~iffie, Sweden Tel: +46 533 689 600 Fax: +46 533 689 601 Web: www.ccivalve.com Parent Company: CCI, USA (uhc - I MI pie, UK) Valve Products: Control CCI Valve Technology GesmbH Address: Lembrckgasse 63/1, A1230 Wien, Austria Tel: +43 1 869 2740 Fax: +43 1 865 3603 Web: www.ccivalve.com Parent Company: CCI, USA (uhc - IMI pie, UK) Valve Products: Control, Check, Globe, Pressure, Solenoid, Actuators

Centork Valve Control SL Address: Portu Etxe 23-25, E20018 San Sebastian, Spain Tel: +34 943 316137 Fax: +34 943 223657 Web: www.centork.com Managing Director: Paco Lazcano Production Manager: Jesus Fajardo Marketing Manager: Dirk Vem Hrvel No of Employees: 15 2003 Sales of Valves: US$1.5 million Manufacturing Plant Area: 2000 sq m Quality Assurance Cetification: ISO 9001:2000 Certifying Body: AENQR, ER 0379/2003 Valve Products: Actuators Cera System Vershleissschutz GmbH Address: Heinrich-Hertz-Strasse 24, D-07629 Hermsdor f/Thiiringen, Germany Tel: +49 36601 919 0 Fax: +49 36601 919 90 Web: www.cerasystem.de Managing Director: Helmut Burghardt No of Employees: 90 2003 Sales: (~6.7 million Valve Products: Ball, Check, Control, Gate, Globe Check-All Valve Mfg Co Address: 1800 Fuller Rd, West Des Moincs, IA 50265, USA Tel: + 1 515 224 2301 Fax: + 1 515 224 2326 Web: www.checkall.com Managing Director: Mark Novak Production Manager: Joe Offenburger Marketing Manager: Connie Eller No of Employees: 34 Quality Assurance Certification: ISO 9001/2000 Certifying Body: BSI Parent Company: International Valve Co, USA Valve Products: Check

Profile of the International Valve Industry

183

10 Directory of Valve Companies

ChemValve AG Address: Sternenhaldenstrasse 13, CH-8712 Sttifl~a, Switzerland Tel: +41 1 928 17 88 Fax: +41 1 9 2 8 1 7 8 7 Valve Products: Ball, Butterfly Chernjachovsky Car Repair Plant JSC Address: 1 Portovaya Str, Chernjachovsk, Kaliningradsky Region 238150, Russia Tel: +7 1141 32092/32180/32345 Fax: +7 1141 32115 Web: www.bahnet.ru/--arz Valve Products: Ball, Check, Gate China Jiangnan Valve Co Ltd Address: 551 Airport Ave, Wenzhou 325024, China Tel: +86 577 86376968 Fax: +86 577 86870123 Web: ~wv.valveu niverse.com No of Employees: 500+ Valve Products: Ball, Butterfly, Check, Gate, Globe, Plug China Shenjiang Valve Co Ltd Address: Qiligang Industrial Zone, Yueqing, Zhejiang, China Tel: +86 577 6267 1099 Fax: +86 577 6267 2751 Web: ~avw.valvesworld.com Manuthcturing Plant Area: 30 000 sq m No of Employees: 400 Sales: Rmb80 million Valve Products: Ball, Butterfly, Check, Gate, Globe, Plug Chuchu Decayeux Address: 14 rue du Chevalier de la Barre, 80520 Woincourt, France Tel: +33 3 22 20 75 25 Fax: +33 3 22 30 37 65 Web: www.chuchu-decayeux, fr Valve Products: Ball, Gate Cav Uff Giacomo Cimberio SpA Address: Via Torchio 57, 28017 San Maurizio d'Opaglio (NO), Italy Tel: +39 0322 923001 Fax: +39 0322 967216 Web: www.cimberio.com

184

Director: Renzo Cimberio No of Employees: 215 Valve Products: Ball, Butterfly, Check, Gate, Globe

Circle Seal Controls Inc Address: 2301 Wardlow Circle, PO Box 3300, Corona, CA 92878, USA Tel: +1 909 270 6200 Fax: + 1 909 270 6201 Web: w~av.circle-seal.com Parent Company: Circor International Inc, USA Valve Products: Check, Control, Pressure Relief, Solenoid Cla-Val Co Address: 1701 Placentia Avenue, Costa Mesa, CA 92627-4475, USA Tel: + 1 949 722 4800 Fax: +1 949 548 5441 Web: wv,~v.cla-val.com Canadian Factory: Cla-Val Canada, 4687 Christie Drive, Beamsville, Ontario L0R 1B4, Canada Valve Products: Control Cla-Val SA Address: Chemin des M~sanges 1, 1032 Romanel/Lausanne, Switzerland Tel: +41 21 643 1555 Fax: +41 21 643 1550 Web: ~v.cla-val.ch No of Employees: 25 Parent Company: Cla-Val Co, USA Valve Products: Control Colves Fluid Control srl Address: Via F Serpero 4/F4, 20060 Masate (MI), Italy Tel: +39 02 957 643 57 Fax: +39 02 957 643 42 Web: ~av.colves.com Additional Manufacturing: Nantong Colves Fluid Control Ltd, China JV Valve Products: Check, Gate, Globe, Special

Conbraco Industries Inc Address: PO Box 247, Matthews, NC 281 O6, USA

Profile of the International Valve Industry

Tel: +1 704 841 6000 Fax: +1 704 841 6020 Web: www.conbraco.com Additional Factories: Pageland, SC; Conway, SC Valve Products: Ball, Butterfly, Check, Safety

Conflow Ltd Address: President Park, President Way, Sheffield $4 7UR, UK Tel: +44 114 224 0000 Fax: +44 114 278 4978 Web: ~a~a,.con flow.coin Parent Company: Flow Industries Ltd, UK Valve Products: Ball, Check, Control, Float Control Seal Tolboom Valve Supply Address: Tasveld 3, 3417 XS Montfoort, The Netherlands Tel: +31 348 474315 Fax: +31 348 474238 Web: www'fl~176176176 Parent Company: Dresser Flow Control, USA Valve Products: Ball Conval Inc Address: 265 Field Rd, Somers, CT 06071-1049, USA Tel: +1 860 763 3551 Fax: +1 860 763 3557 Web: www.conval.com Managing Director: Frank Siver Production Manager: Frank Slyer Marketing Manager" Michael Hendrick No of Employees: 100 2003 Sales of Valves: US$18 million Manufacturing Plant Area: 10 000 sq m Quality Assurance Certification: ISO 9001 PED Certi~,ing Body: ISO-BVQI; PED-Det Norske Veritas Valve Products: Ball, Check, Gate, Globe, Pressure Cooper Cameron (UK) Ltd Address: Queen St, Stourton, Leeds, West Yorkshire LS 10 1SB, UK

10 Directory of Valve Companies

Tel: +44 113 2701144 Fax: +44 l 13 276 4751 Web: www.camerondiv.com Parent Company: Cooper Cameron Corp, USA Valve Products: Gate

Cooper Cameron Valves Address: 16500 South Main St, Missouri City, TX 77489-1300, USA Tel: + 1 281 499 8511 Fax: +1 281 499 5211 Web: www.ccvalve.com Vice President, Marketing & North American Sales: Jim Wright Parent Company: Cooper Cameron Corp, USA Valve Products: Ball, Butterfly, Control, Gate, Actuators Cooper Cameron Valves Address: PO Box 94700, Oklahoma City, OK 73143, USA Tel: + 1 405 631 1321 Fax: + 1 405 629 0420 Web: www.ccvalve.com Parent Company: Cooper Cameron Corp, USA Cooper Cameron Valves (exOrbit Valve) Address: 7200 Interstate Drive, Little Rock, AR 72219, USA Tel: +1 501 568 6000 Fax: +1 501 570 5700 Web: www.ccvalve.com Parent Company: Cooper Cameron Corp, USA Valve Products: Ball, Gate, Plug, Actuators Cooper Cameron Valves Address: 6 Holloway Blvd, Ville Platte, LA 70586-9778, USA Tel: +1 337 363 7500 Fax: 41 337 363 7516 Web: www.ccvalve.com Parent Company: Cooper Cameron Corp, USA Cooper Cameron Valves/Cameron France SA Address: Plaine Saint Pierre, CS 620, 34535 Beziers Cedex, France Tel: +33 4 67 11 15 00

Parent Company: Crane Co, USA Valve Products: Ball, Butterfly, Check, Gate, Globe

Fax: +33 4 67 11 16 00 Web: w~av.ccvalve.com Parent Company: Cooper Cameron Corp, USA Valve Products: Ball, Gate

Cooper Cameron Valves (exNutron Industries) 4304 76 Avenue, Edmonton, Alberta T6B 2H8, Canada Tel: + 1 780 468 2732 Fax: + 1 780 450 1359 Web: www.nutron.ca Parent Company: Cooper Cameron Corp, USA Valve Products: Ball, Check, Gate Copes-Vulcan Address: 5620 West Rd, McKean, PA 16426, USA Tel: + 1 814 476 5800 Fax: + 1 814 476 5854 Web: ww~:spxvalves.com Marketing Manager: David Walker Parent Company: SPX Corp, USA Valve Products: Control, Globe, Actuators CPC-Cryolab Address: 12501 Telecom Drive, Tampa, FL 33637, USA Tel: +1 813 978 1000 Fax: 41 813 977 0174 Web: www.cpc-cryolab.com Parent Company: Circor International Inc, USA Valve Products: Check, Control, Globe, Safety Crane Australia Address: St Marys, New South Wales, Australia Tel: +61 2 962 30234 Fax: +61 2 967 33870 Web: www.cranevalves.com/aussie Managing Director" W R McLeod Parent Company: Crane Co, USA Valve Products: Check, Gate, Globe Crane Fluid Systems Address: Nacton Rd, Ipswich IP3 9QH, UK Tel: 4-44 1473 277300 Fax: 444 1473 277301 Web: ~awv.cranefs.com

Crane Nuclear Inc Address: 2825 Cobb International Bird, Kenneshaw, GA 301524352, USA Tel: + 1 770 424 6343 Web: www.cranenuclear.com Additional Factory: 860 Remington Blvd, Bolingbrook, IL 60440, USA (Tel: + 1 630 226 4900) Parent Company: Crane Co, USA Valve Products: Butterfly, Check, Gate, Globe, Plug Crane Process Flow Technologies Ltd (ex- Alfa Laval Saunders Ltd) Address: Grange Rd, Cwmbran, Gwent NP44 3XX, UK Tel: +44 1633 486666 Fax: +44 1633 486777 Web: www.saundersvalves.com No of Employees: 320 (2002) 2002 Sales: s million Additional Factory Locations: Belfast, Northern Ireland; Diisseldorf, Germany; Monza, Italy; Wavre, Belgium; Pune, India Parent Company: Crane Co, USA Valve Products: Butterfly, Check, Diaphragm, Actuators Crane Process Flow Technologies GmbH (ex- Alfa Laval Flow GmbH) Address: Heerdter Lohweg 63-7 l, D-40549 D/isseidorf, Germany Tel: +49 211 59 56 0 Fax: +49211 59 56111 Web: w-,vw.craneflow.de Product Manager: Werner Kremer No of Employees: 185 2003 Sales: (~39 million Parent Company: Crane Co, USA Valve Products: Butterfly, Check, Globe, Actuators Crane Valves North America Address: 9200 New Trails, Suite 200, The Woodlands, TX 77381, USA Tel: +1 281 298 5463

Profile of the International Valve Industry

185

10 Directory of Valve Companies

Fax: +1 281 298 1920 Web: www.cranevalve.com Factory Locations: Cullman, AL; Washington, IA; Brantfbrd, ON; St Louis, MO; Conroe, TX; Ningjin, China; Nantong, China Valve Products: Ball, Butterfly, Check, Diaphragm, Gate, Globe, Actuators

Danfoss IWK Regler GmbH Address: Lorenzstrasse 6, D76297 Stutensee, Germany Tel: +49 7244 7205 0 Fax: +49 7244 7205 311 Web: www.iwk.dantbss.de Parent Company: Danfoss A/S, Denmark Valve Products: Control, Safety

Dafram SpA Address: Via le Monte Nero 17, 20135 Milano (MI), Italy Tel: +39 02 579692.1 Fax: +39 02 55181707 Web: www.dafi'am.it Factory: Strada Statale 78, Km 6, 62010 Urbisaglia (MC) No of Employees: 100 2002 Sales: E11.9 million Valve Products: Ball

Danfoss (11anjin) Ltd Address: Rd 3, Wuqing Development Area, Tianjin 301700, China Tel: +86 22 8212 6400 Fax: +86 22 8212 6407 Web: w~v.danfoss.com.cn Parent Company: Danfbss A/S, Denmark

Dairy Pipelines Address: Shire Hill, Saffi'on Walden, Essex CB 11 3AX, UK Tel: +44 1799 520188 Fax: +44 1799 520183 Web: www.dpluk.co.uk Valve Products: Ball, Butterfly, Check, Diaphragm, Plug, Safety, Actuators Dalian Hongyu Valve Industry Co Ltd Address: 19 Floor, Ping An Building, 24 Renmin Rd, Zhongshan District, Dalian, China Tel: +86 411 2539088 223 Fax: +86 411 2539222 Web: www.valve-hyv.com Valve Products: Ball, Butterfly, Check, Gate, Globe Danfoss Esco AS Address: Postboks 85, N-3602 Kongsberg, Norway Tel: +47 32 77 07 00 Fax: +47 32 72 06 99 Web: www.esco.no 2002 Sales: NKr137.3 million Parent Company: Dantbss A/S, Denmark Valve Products: Control, Gate

186

Danfoss Socla SA Address: 365 rue du Lieutenant Putier, F-71530 Virey-le-Grand, France Tel: +33 3 85 97 42 00 Fax: +33 3 85 41 49 31 Web: ~,w.watervalves.com Managing Director: Jacques Chaize Production Manager: Jean Tolon Marketing Manager: Joseph Sassonia No of Employees: 300 Sales of Valves: E48 million Parent Company: Danfoss A/S, Denmark Valve Products: Butterfly, Check, Control, Gate, Pressure Daniel Valve Co Address: 19191 Hempstead Hwy, Houston, TX 77065, USA Tel: +1 281 469 0550 Fax: + 1 281 894 1332 Web: w~v.spxvalves.com VP Sales: John Stark Marketing Manager: David Walker Parent Company: SPX Corp, USA Valve Products: Ball, Check, Control, Gate, Pressure, Actuators Daume Regelarmaturen GmbH Address: Jathostrasse 8, Postfich 10 02 31, D-30916 Isernhagen bei Hannover, Germany Tel: +49 511 9 02 14 0

Profile of the International Valve Industry

Fax: +49 511 9 02 14 17 Web: ~wcw.daumeregelarmaturen.de Valve Products: Control, Globe, Plug, Pressure, Actuators

Davis Pneumatic Systems Ltd Address: Huxley Close, Newnham Industrial Estate, Plymouth, Devon PL7 4BQ, UK Tel: +44 1752 336421 Fax: +44 1752 345828 Web: w~,.davispneumatic.co.uk Valve Products: Actuators Definox

Address: 3 rue Louis Renault, BP 329, 44803 Saint-Herbain Cedex, France Tel: +33 2 40 67 89 89 Fax: +33 2 40 67 89 01 Web: ~v.defbntaine.com Managing Director: ]Y Lemoing Production Manager: F Barsacq Marketing Manager: JY Lemoing No of" Employees: 190 Quality Assurance Certification: ISO 9O01 Certi~'ing Body: EHEDQ-3A Parent Company: Defbntaine Group, France Valve Products: Butterfly, Check, Diaphragm, Plug, Actuators

Delta Fluid Products Ltd (Brownall & NABIC brands) Address: Delta Rd, St Helens WA9 2ED, UK Tel: +44 1744611811 Fax: +44 1744 453675 Web: wx~ ~.del taft uidprod u cts.co, uk Managing Director: Brian Travis Production Manager: Andrew JollCS Marketing Manager: Steve Cooper No of Employees: 60 Valve Products: Diaphragm, Gate, Globe, Pressure Relief, Safety DeltaValve Address: 857 West South Jordan Parkway, Suite #100, South Jordan, UT 84095, USA Tel: +1 801 984 1000 Fax: + 1 801 984 1001

10 Directory of Valve Companies

Web: www.deltavalve.com Managing Director: Troy Bengtzen Production Manager: Glenn Mryglod Marketing Manager: David Anderson No of Employees: 42 Quality Assurance Certification: ISO 9001:2000 Parent Company: Curtiss-Wright Corp, USA Valve Products: Gate, Ball, Butterfly, Coker Desbordes SA Address: l I bis rue de la Ligne de l'Est, 69627 Villeurbanne Cedex, France Tel: +33 4 72 13 15 21 Fax: +33 4 72 13 15 14 Web: www.desbordes.com No of Employees: 62 Sales: E25.8 million Parent Company: Danfoss A/S, Denmark Valve Products: Control, Pressure Descote Address: 9 ave Jean Jaur~s, 69320 Feyzin, France Tel: +33 4 72 89 25 00 Fax: +33 4 72 89 25 25 Web: www.tycovalves.com Managing Director: Mealy Kong Marketing Manager: J P Richer Production Manager: Jose Pereira No of Employees: 85 2003 Sales of Valves: US$13.5 million Quality Assurance Certification: ISO 9001 Version 2000 Certifying Body: LRAQ Parent Company: Tyco Flow Control, USA Valve Products: Globe, Actuators Desotec Activated Carbon NV SA Regenbeekstraat 44, B-8800 Roeselare, Belgium Tel: +32 51 24 60 57 Fax: +32 51 24 59 16 Web: www.desotec.com Managing Director: roost Desmet

Production Manager: Luc Coorevits Marketing Manager: Rike Seynaeve No of Employees: 16 2003 Sales: US$9 million Manufacturing Plant Area: 3500 sq m

Tel: + 1 519 621 8980 Fax: +1 519 621 9521 Web: v,~vw.spxvalves.com Marketing Manager: David Walker Parent Company: SPX Corp, USA Valve Products: Ball, Butterfly; Control, Gate, Globe, Actuators

Dewrance Address: White Moss Business Park, Moss Lane View, Skelmersdale, Lancashire WN8 9TN, UK Tel: +44 1695 554800 Fax: +44 1695 554835 Web: www.tyco.com Parent Company: Tyco International, USA Valve Products: Check, Gate, Globe

Address: 140 Sheree Blvd, Exton, PA 19341-0566, USA 9Tel: + 1 610 363 8900 Fax: + 1 610 524 9242 Web: w~v.dft-valves.com Sales & Marketing Manager: Michael Johnson Quality Assurance Certification: ISO 9001 Valve Products: Check, Control

DeZurik

Address: 250 Riverside Ave North, Sartell, MN 56377, USA Tel: +1 320 259 2000 Fax: +1 320 259 2227 Web: www.spxvalves.com Manufacturing Plant Area: 410 000 sq f~ Parent Company: SPX Corp, USA Valve Products: Ball, Butterfly, Control, Gate, Globe, Plug, Actuators Dezurik Copes-Vulcan Ltd (SPX Valves & Controls) Address: Rd Two Industrial Estate, Winsford, Cheshire CW7 3QL, UK Tel: +44 1606 552041 Fax: +44 1606 552700 Web: www.spxvalves.com Managing Director: MA Wheat Marketing Manager: RJ Haughton No of Employees: 50 Parent Company: S PX Corp, USA Valve Products: Ball, Butterfly, Check, Control, Diaphragm, Gate, Globe, Needle, Pinch, Plug, Pressure, Actuators DeZurik Address: 385 Franklin Boulevard, Cambridge, Ontario, N1R 5V5, Canada

DFT Ine

Di-Hen Corp

Address: No 30-6, Lane 300, SanMin Rd, Lu-Chou City, Taipei Hsien, Taiwan Tel: +886 2 82828869 Fax: +886 2 82828996 Web: www.di-hen.com.tw Valve Products: Solenoid, Actuators Metallwerke Otto Dingerkus GmbH Address: Aufdem Schilde, D57439 Attendorn, Germany Tel: +49 2722 59 1-0 Fax: +49 2722 55 1180 Web: www.dingerkus.de No of Employees: 150 2003 Sales: El7 million Valve Products: Ball Di Nicola Gennaro & Figli SpA Address: Via Mazzini 29/35, 66020 Sambuceto di S Giovanni Teatino (CH), Italy Tel: +39 085 4461323/4463124 Fax: +39 085 4463118 DKG-East RT Address: Vfir u 9, H-8800 Nagykanizsa, Hungary Tel: +36 93 310 160 Fax: +36 93 310 456 Web: w~c.dkgeast.hu Managing Director: Kfiroly Mfid~ Commercial Director: L~szl6 KOt61

Profile of the International Valve Industry

187

10 Directory of Valve Companies

Production Manager: P&er Szamos No of Employees: 590 2003 Sales of Valves: US$6 million Manufacturing Plant Area: Indoor 22 800 sq m, Outdoor 160 000 sq m Quality Assurance Certification: ISO 9001 API 6A, 6D, 7 Certi~ing Body: PED, GOSGORTECHNADZOR Valve Products: Ball, Gate DMN Westinghouse Address: PO Box 6, 2210 AA Noordwijkerhout, The Netherlands Tel: +31 252 361 800 Fax: +31 252 375 972 Web: w~.dmn.info Managing Director: MW de Vlieger Production Manager: R Kleppe Marketing Manager: T Caspers No of Employees: 140 Manuthcturing Plant Area: 5800 sq m Quality Asssurance Certification: ISO 9001, 2000 Certi~ing Body: BVQI Valve Products: Diverter, Plug, Rotary Brian Donkin Valves Address: Derby Rd, Chesterfield $40 2EB, UK Tel: +44 1246 558707 Fax: +44 1246 558712 Web: www.donkinvalves.com Divisional Sales Director: Richard Stone No of Employees: 80 Parent Company: Aqua-Gas AVK (uhc: AVK Holding A/S, Denmark) Valve Products: Ball, Gate, Plug DPL Address: Shire Hill, Saffron Walden, Essex CB 11 3AX, UK Tel: +44 1799 522885 Fax: +44 1799 525916 Web: www.dpluk.co.uk Drehmo GmbH Address: Industriestrasse l, D57482 Wenden, Germany

188

Tel: +49 2762 612 311 Fax: +49 2762 612 359 Web: ~vw.drehmo.com 2003 Sales: (Zl 3.3 million Valve Products: Actuators

Manager of Operations: Dan Wise Parent Company: Dresser Inc, USA Valve Products: Ball, Butterfly, Check, Control

Dresser Flow Control Address: 5010 North Service Rd, Burlington, Ontario L7L 5R5, Canada Tel: +1 905 335 3529 Fax: +1 905 336 7628 Web: w~v.flowcontrol.d resser.com Parent Company: Dresser Inc, USA Valve Products: Ball, Butterfly, Control, Globe, Pressure, Actuators

Dresser Flow ControlTexsteam Operations Address: 1020 Rankin Rd, Houston, TX 77073, USA Tel: + 1 281 443 7000 Fax: +1 248 443 6802 Web: ~ v . flowcontrol.dresser.com Manufhcturing Plant Area: 220 000 sq f~ No of Employees: 193 Parent Company: Dresser Inc, USA Valve Products: Ball, Check, Gate, Globe, Plug, Actuators

Dresser Flow ControlAmericas Headquarters Address: l l 100 West Airport Boulevard, Staflbrd, TX 774773, USA Tel: + 1 281 568 2211 Fax: +1 281 568 6078 Web: www.flowcontrol.dresser.com President, Americas Operations" Stuart Brightman Parent Company: Dresser Inc, USA Valve Products: Ball, Butterfly, Check, Control, Actuators Dresser Flow ControlMasoneilan North American Operations Address: 85 Bodwell St, Avon, MA 02322, USA Tel: + 1 508 586 4600 Fax: +1 508 941 5497 Web: www.masoneilan.com Marketing Manager: Stephen Wing Parent Company: Dresser Inc, USA Valve Products: Control Dresser Flow Control - Nil-Cor Operations Address: 12241 Rockhill Avenue, NE Alliance, OH 44601-0058, USA Tel: +1 330 823 0500 Fax: +1 330 821 6722 Web: www.flowcontrol.dresser.com

Profile of the International Valve Industry

Dresser Flow Control - TK Valve Operations Address: 2175 Southwest Railroad Avenue, Hammond, LA 70403, USA Tel: +1 504 345 6482 Fax: +1 504 542 5315 Web: www.flowcontrol.dresser.com Parent Company: Dresser Inc, USA Valve Products: Ball Dresser Flow Control Solutions Address: East Gillibrands Estate, Skelmersdale, Lancashire WN8 9TU, UK Tel: +44 1695 52600 Fax: +44 1695 720175 Web: ~w,.flowcontrol.dresser.com Parent Company: Dresser Inc, USA Valve Products: Ball, Butterfly, Check, Control, Globe, Plug, Safety, Actuators Dresser Flow Control- Tom Wheatly and Wheatly Operations Address: 3131 West Little York, Houston, TX 77091, USA Tel: +1 281 688 6666 Fax: + 1 281 568 1414 Web: ~vw. flowcontrol.dresser.com Parent Company: Dresser Inc, USA Valve Products: Check, Gate

10 Directory of Valve Companies

Dresser Valves Europe GmbH Address: Heiligenstrasse 75, DViersen, Germany Tel: +49 2162 8170 0 Fax: +49 2162 8170 00 Web: www.masoneilan.com Parent Company: Dresser Inc, USA Valve Ptoduct Types: Control, Safety Eisenwerke Friedr Wilh Diiker AG & Co KgA Address: Hauptstrasse 39-41, D63846 Laufach, Germany Tel: +49 6093 87 0 Fax: +49 6093 87 302 Web: www.dueker.de Valve Products: Butterfly, Check, Diaphragm, Gate Durabla Fluid Technology Inc Address: 140 Sheree Boulevard, Exton, PA 19341-0566, USA Tel: + 1 610 363 8903 Fax: + 1 610 524 9242 Web: www.dft-valves.com General Sales Manager: Warren Frid Valve Products: Check, Control Franz DQrholdt GmbH & Co KG Armaturenfabrik Address: Friedrich- Engels-Allee 259, D-42285 Wuppertal, Germany Tel: +49 202 2 80 86 0 Fax: +49 202 2 80 86 40 Web: www.duerholdt.de Managing Director: J Schievelbusch No of Employees: 16 2002 Sales: (~1.7 million Valve Products: Actuators, Ball, Butterfly, Control, Check, Gate, Globe, Pinch, Plug, Safety

Duyar Vana Makina San Ve Tic AS Address: U~,ur Mumcu Mah 2347 Sok No 7, 34120 GO Pa~alstanbul, Turkey Tel: +90 212 668 18 08 Fax: +90 212 594 73 42 Web: www.duyarvalve.com Vah,e Products: Ball, Butterfly, Check, Gate, Globe, Safety

Dynafluid Ltd (inc Gresswell Valves) Address: Units DI &D2, Halesfieid 21, Telford, Shropshire TF7 4NX, UK Tel: +44 1952 580946 Fax: +44 1952 582546 Web: www.dynatluid.com Parent Company: Wrekin Shell Mouldings Ltd, UK Valve Products: Check, Safety Relief Dynamic Controls Ltd Address: Union St, Royton OL2 5JD, UK Tel: +44 161 633 3933 Fax: +44 161 633 4113 Web: ~,~av.dynamiccontrols.co.uk Valve Products: Check, Control, Globe, Pressure Dynamic Fluid Control Ply Address: 32 Lincoln Rd Industrial Sites, Benoni South, Johannesburg, South Africa Tel: +27 11 748 0200 Fax: +27 11 421 2749 Web: w~-,v.dfc.co.za Managing Director: HOB Smith Production Manager: K Kamfer Marketing Manager: B Holford No of Employees: 263 Manufacturing Plant Area: 41 750 sq m Quality Assurance Certification: ISO 9001:2000 Certifying Body: SABS Valve Products: Ball, Butterfly, Check, Control, Diaphragm, Gate, Pressure, Actuators DynaQuip Controls Corp Address: l 0 Harris Industrial Park, St Clair, MO 63077, USA Tel: +1 800 545 3636 Fax: + 1 636 629 5528 VP Sales & Marketing: Edwin Kent Valve Products: Ball, Butterfly, Actuators DynaTorque Inc Address: 1934 East Sherman Boulevard, Muskegon, MI 49444, USA

Tel: +l 231 739-1431 Fax: + l 231 739 4514 Web: ~av.dynatorq ue.com National Sales Manager: Mike Casey Parent Company: Hines Corp Valve Products: Actuators

Eagle Industry Co Ltd Address: Seiwa Building, l- 12-15, Shiba-Daimon, Minato-ku, Tokyo 105-8587, lapan Tel: +81 3 3438 1337 Fax: +81 3 3438 2294 Web: www.ekk.co.jp No of Employees: 1847 (2003) 2003 Sales: u billion Valve Products: Check, Control, Steam Isolation Eayuan Metal Industrial Co Ltd (EMICO) Address: 3F-8, No 665, Sec 2, Wu-Chuan W Rd, Taichung, Taiwan Tel: +886 4 3832828 Fax: +886 4 3847711/3847733 Web: w~av.emico.com.tw Factory: No 60, Yung-Tai Rd, Lukang Chen, Changwa, Taiwan Valve Products: Ball, Butterfly, Check, Custom Design, Gate, Globe Ebro Armaturen GebrOder Br6er GmbH Address: Karlstrasse 8, D-58135 Hagen, Germany Tel: +49 2331 904 0 Fax: +49 2331 904 114 Web: ww~:ebro-armaturen.com Managing Director: Peter BrOer Production Manager: Hans Konopatzki Marketing Manager: Peter Eckhoff No of Employees: 415 2003 Sales of Valves: US$72 million

Quality Assurance Certification: ISO 9001 Certifying Body: TOV Valve Products: Ball, Butterfly, Check, Control, Gate, Pinch, Actuators

Profile of the International Valve Industry

189

10 Directory of Valve Companies

Effebi SpA Address: Via Giuseppe Verdi 68, 25060 Bovezzo (BS), Italy Tel: +39 030 211010 Fax: +39 030 2110302 Web: www.efti:bi.it Managing Director: F Bonomi Production Manager: M Corsini Marketing Manager: F Chiarenza No of Employees: 150 2003 Sales of Valves: US$35 million Manufacturing Plant Area: 20 000 sq m Quality Assurance Certification: ISO 9001-2000 Certi@ing Body: Bureau Veritas Valve Products: Ball, Butterfly Egmo Ltd

Address: PO Box 1111, Nahariya 22110, Israel Tel: +972 04 9855 171 Fax: +972 04 9855 175 Web: v,avw.egmo.co.il Managing Director: Hatty Ehrenberg Marketing Manager: Daniel Lev No of Employees: 150 2003 Sales of Vales: US$15 million Manufacturing Plant Area: 10 000 sq m Parent Company: Neumo Ehrenberg Group Valve Products: Butterfly, Actuators ElM Controls Inc

Address: 13840 Pike Rd, Missouri City, TX 77489, USA Tel: + 1 281 499 1561 Fax: +1 281 499 8445 Web: w,aav.eim-co.com President: Lynn Elliott VP Marketing & Sales: Robert Kornsey Valve Products: Actuators ElM Controls UK Ltd

6/7 Galaxy House, New Greenham Park, Newbury RG19 6HW, UK Tel: +44 1635 817315 Fax: +44 1635 817460 Web: www.eim-co.com Managing Director: Richard Fisher

190

No of Employees: 120 2003 Sales of Valves: US$30 million Quality Assurance Certification: ISO 9001:2000 Certil~ing Body: ABS Quality Evaluators Parent Company: EIM Controls Inc Valve Products: Actuators EMG, Elektro-Mechanik GmbH Address: Industriestrasse l, D57482 Wenden, Germany Tel: +49 2762 6 12 0 Fax: +49 2762 6 12 2 37 Web: ~vw.emg-automation.de Valve Products: Actuators EI-O-Matic BV Address: Asveldweg 19, PO Box 223, 7550 AE Hengelo, The Netherlands Tel: +31 742 561020 Fax: +31 742 438690 Web: w~av.el-o-matic.com Parent Company: Emerson Electric Co, USA Valve Products: Actuators Emerson Process Management - Baumann Division Address: 130 International Drive, Portsmouth, NH 03801, USA Tel: +1 603 766 8500 Fax: +1 603 766 8599 Web: ~v.baumann.com Parent Company: Emerson Electric Co, USA Valve Products: Control Emerson Process Management -Daniel Measurement & Control Division Address: 9720 Old Katy Rd, Houston, TX 77055, USA Tel: + 1 713 467 6000 Fax: +1 713 827 3880 Web: www.emersonprocess.com/ daniel Parent Company: Emerson Electric Co, USA Valve Products: Control

Profile of the International Valve Industry

Emerson Process Management Address: 205 South Center St, Marshalltown, IA 50158, USA Tel: +1 515 754 3011 Fax: + 1 515 754 2830 Web: ~awv.emersonprocess.com/ fisher Parent Company: Emerson Electric Co, USA Valve Products: Butterfly, Ball, Control, Pressure, Actuators Emerson Process Management SA Address: rue Paul Baudray, 68701 Cernay, France Tel: +33 3 89 37 64 00 Fax: +33 3 89 75 69 57 Web: w~v.emerson process, ti" R&D Director: E Venner No of Employees: 550 Quality Assurance Certification: ISO 9001 Parent Company: Emerson Electric Co, USA Valve Products: Ball, Butterfly, Control, Globe, Plug, Actuators Emerson Process Management KFT Address" Erzebet Kiralyne utja l / c , 1146 Budapest, Hungary Tel: +36 1 343 0048 Fax: +36 1 343 0173 Web: wx~v.emersonproces.com/fisher Parent Company: Emerson Electric Co, USA Valve Products: Control END-Automation GmbH & Co KG Address: Oberbecksener Strasse 78, D-32547 Bad Oeynhausen, Germany Tel: +49 5731 7901 0 Fax: +49 5731 7901 98 Web: www.end.de No of Employees: 16 2003 Sales: E4.1 million Valve Products: Ball, Butterfly, Check, Control, Diaphragm, Gate, Globe, Needle, Pinch, Pressure Relict, Actuators

10 Directory of Valve Companies Energopred - YARDOS JSC Address: 686 Mosenergo, Moscow, Zelinograd 103527, Russia Tel: +7 95 9679379 Fax: +7 95 4599812/4525433 Valve Products: Ball Enertech Address: 2950 Birch St, Brea, CA 9262 l, USA Tel: +1 714 528 2301 Fax: +1 714 528 0128 President: lim Leachman Parent Company: Curtiss-Wright Corp, USA Valve Products: Bail, Butterfly, Check, Control, Needle, Pressure, Solenoid, Actuators Enimex SA Address: Industrial Area of Kilkis, PO Box 20, 61100 Kilkis, Greece Tel: +30 23410 72162-3 Fax: +30 23410 7206 No of Employees: 13 2003 Sales: (~5.1 million Valve Products: Ball Enolgas Bonomi SpA Address: Via Europa 227, 25062 Concesio (BS), I taly Tel: +39 030 2184 311 Fax: +39 030 2184 333 Web: www.enolgas.it Managing Director: Sandro Bondiu Production Manager: Riccardo Bonardi Marketing Manager: Mauro Barbi No of Employees: 100 2003 Sales of Valves: US$25 million Manufacturing Plant Area: 45 000 sq m Quality Assurance Certification: ISO 9001 Certifying Body: ICIM Valve Products: Ball, Check EPC GmbH Address: IZ-N? Siid, Strasse l, Objekt 50, A-2355 Wr Neudorf, Austria Tel: +43 2236 61466 0 Fax: +43 2236 61466 30

Web: www.epc.at Valve Products: Control Erhard GmbH & Co Address: Meeboldstrasse 22, D89522 Heidenheim, Germany Tel: +49 7321 320 0 Fax: +49 7321 320 491 Web: www.erhard.de Additional Factories: Oettingen/Bavaria, Daun/Eifel No of Employees: 350 2003 Sales: (~75 million Parent Company: Tyco International, USA Valve Products: Ball, Butterfl)q Check, Needle

ESME Valves Lid Address: Esme House, Coronation Rd, Basingstoke, Hampshire RG21 2ET, UK Tel: +44 1256 464646 Fax: +44 1256 841 597 Web: ww~: esme-valves.co, uk Valve Products: Control, Safety Etna Address: 8 rue de la Grande Ceinture, 95104 Argenteuil Cedex, France Tel: +33 1 39 82 09 24 Fax: +33 1 39 82 20 44 Valve Products: Solenoid Eurovalve Srl Address: Via Camicie Rosse l l, 20090 Opera (MI) Italy Tel: +39 02 57601845 Fax: +39 02 57601700 Web: w~av.eurovalve.it No of Employees: 22 2002 Sales: 1~5.9 million Valve Products: Ball, Butterfly, Control Everest Valve Co Address: Houston, TX 772294295, USA Tel: + 1 713 923 8696 Fax: + 1 713 923 6270 President: Phillip Blest Valve Products: Butterfly, Check, Control, Gate

Everlasting Valve Co Inc Address: 108 Somogyi Court, South Plainfield, NJ 07080-4816, USA Tel: + 1 908 769 0700 Fax: +1 908 769 8697 Web: www.everlasti ngvalveco.com President: Richard Base VP Sales: Frank Hawley Valve Products: Rotating Disc Wilhelm Ewe GmbH & Co KG Address: Volkmaroder Strasse 19, D-38104 Braunschweig, Germany Tel: +49 531 3 70 05 0 Fax: +49 531 3 70 05 55 Web: w~av.ewe-armaturen.de Valve Products: Tapping Saddle

EWO Armaturen- und Autogenger/itefabrik ewo H Holzapfel GmbH & Co KG Address: Hessbriihlstrasse 45-47 D-70503 Stuttgart, Germany Tel: +49 711 78 13 0 Fax: +49 711 78 13 100 Web: www.ewo-stuttgart.de No of Employees: 100 2003 Sales: (~13 million Valve Products: Control Excel Hydro-Pneumatics Pvt Ltd Address: 51 First Floor, Raja Industrial Estate, PK Rd, Muland (W), Mumbai 400 080, India Tel: +91 22 5683291 Fax: + 91 22 5645538 Web: wx~:excelhydro.com Valve Products: Ball, Needle Fainger Leser Valves PVT Lid Address: 136 Mittal Industrial Estate, Marol, Andheri (E), Mumbai, India Tel: +91 22 850 1692 Fax: +91 22 850 4470 Web: www.fainger.com Parent Company: Fainger Group/Leser GmbH & Co KG JV Valve Products: Relief, Safety Famat SA Address: Ch Des Jordils 40, CH1025 St-Sulpice, Switzerland Tel: +41 21 695 26 26

Profile of the International Valve Industry 191

10 Directory of Valve Companies

Fax: +41 21 695 26 27 Web: www.famat.ch Managing Director: Pascal Favre Valve Products: Ball, Butterfly, Check, Diaphragm, Gate, Globe

Farris Engineering DivisionCurtiss-Wright Flow Control Corp Address: 10195 Brecksville Rd, Brecksville, OH 44141, USA Tel: +1 440 838 7690 Fax: +1 440 838 7699 Web: www.cwf~:.com General Manager: Frank DiTomasso Sales Director: Trefor Powell Parent Company: Curtiss-Wright Corp, USA Valve Products: Pressure Relief, Safety Fasani SpA Address: Via Simonotti 20, 28010 Briga Novarese (NO), Italy Tel: +39 0322 94333/93412 Fax: +39 0322 94964 Parent Company: Tyco International, USA Valve Products: Check, Gate, Globe FC Kingston Co Address: 2943 Gleneden St, Los Angeles, CA 90039, USA Tel: +1 323 913 9470 Fax: +1 323 913 1362 Web: v*~rw,f~:kingston.com National Sales Manager: Steve Carmichael Manufacturing Plant Area: 32 000 sq ft Valve Products: Ball, Check, Control, Globe, Safety, Actuators FCT Address: 23 2i~me avenue, BP 93, 13743 Vitrolles Cedex, France Tel: +33 442 10 36 00 Fax: +33 442 10 36 69 Valve Products: Ball FCX Newman Hattersley Address: 48-2400 Lucknow Drive, Mississauga, Ontario L5S 1T9, Canada

192

Tel: +1 905 678 1240 Fax: +1 905 673 9255 Web: ~a~av.fc-x.com/ Newman H atte rsley Managing Director: Lorraine Wiseman Production Manager: Jason Huynh Marketing Manager: Yong Tae Kim No of Employees: 25 2003 Sales of Valves: US$5 million Manufhcturing Plant Area: 1250 sq m Quality Assurance Certification: ISO 9001:2000 Certil~,ing Body: Deloitte & Touche Parent Company: FCX International pie, UK Valve Products: Ball, Butterfly, Check, Globe, Needle

Valve Products: Bali, Check, Gate, Globe

FCX Orton sfl Address: Via Grilli 2/A, San Nicolo A Trebbia, 29010Rottofi'eno (PC), Italy Tel: +39 0523 762511 Fax: +39 0523 762512 Web: ~avw.fcx-orton.com Parent Company: FCX International pie, UK Valve Products: Butterfly, Check, Control

Ferrero Rubinetteria srl Address: Via Dogliani 84, 12060 Farigliano (CN), Italy Tel: +39 0173 746001 Fax: +39 0173 76405 Web: www.ferrero-vah,es.com No of Employees: 32 2002 Sales: E4.8 million Manufhcturing Plant Area: 10 000 sq m Valve Products: Ball, Check

FCX Thompson Valves Ltd Address: 17 Balena Close, Creekmoor, Poole, Dorset BH 17 7JF, UK Tel: +44 1202 697521 Fax: +44 1202 605385 Web: ~ a v . f~:x-thompsonvalves.corn Parent Company: FCX International pie, UK Valve Products: Globe, Needle, Solenoid

FIP Formatura Iniezione Polimeri SpA Address: Pian di Parata, 16015 Casella (GE), Italy Tel: +39 010 96211 Fax: +39 010 9621209 Web: www.fipnet.it No of Employees: 322 2001 Sales: E46.4 million Valve Products: Control, Plastic Ball, Actuators

FCX Truflo Rona SA Address: Parc Industriel des Hauts Sarts, B-4040 Herstal, Belgium Tel: +32 4 240 6886 Fax: +32 4 248 0246 Web: w~v. fizx-truflo-rona.com Parent Company: FCX International plc, UK

Profile of the International Valve Industry

FDC Schlumberger Address: 31 rue Ampere, B P 34, 69682 Chassieu Cedex, France Tel: +33 4 78 90 66 13 Fax: +33 4 78 90 56 69 FEBCO - Division of SPX Valves & Controls Address: 3816 South Willow Avenue, Fresno, CA 93725, USA Tel: +l 559 441 5300 Fax: +1 559 441 5301 Web: ~vw.spxvalves.com Manufhcturing Location" Mueller Steam Specialit); 1491 NC Highway 20 West, St Pauls, NC 28384 Parent Company: SPX Corp, USA Valve Products: Check

Georg Fischer Piping Systems Address: Ebnatstrasse l l l, CH8201 Schaflhausen, Switzerland Tel: +41 52 631 1111 Fax: +41 52 631 2800 Web: w~av.georgfischer.com No of Employees: 2.900 Parent Company: Georg Fischer Valve Products: Ball, Butterfly,

10

Check, Control, Diaphragm, Gate, Pressure, Actuators

Valve Products: Ball, Butterfly, Check, Globe, Safety

Fischer Mess- und Regeltechnik GmbH Address: Bielefelder Strasse 37a, D-32107 Bad Salzuflen, Germany Tel: +49 5222 9 74 0 Fax: +49 5222 71 70 Web: www.fischer.ag No of Employees: 120 Sales: E12 million Valve Products: Control

Flomatic Corp Address: 15 Pruyn's Island Drive, Glens Falls, NY 12801, USA Tel: +1 518 761 9797 Fax: + 1 518 761 9798 Web: w~v.flomatic.com President: Bo Andersson Parent Company: Danfbss A/S, Denmark Valve Products: Check, Control, Diaphragm, Globe, Pressure, Solenoid

Fisher Controls International Inc Address: 205 South Center St, Marshalltown, IA 50158, USA Tel: + 1 515 754 3011 Fax: + 1 515 754 2830 Web: www.fisher.com Senior Projects Manager: RW Sogge Parent Company: Emerson Electric Co, USA Valve Products: Ball, Butterfly, Control, Globe, Pressure, Actuators Fisher Sanmar Ltd Address: 147 Karapakkam Village, Chennai 600 096, India Tel: +91 44 2450 4300 Fax: +91 44 2450 1913 Web: www.sanmargroup.com Parent Company: Fisher Control Valve Division (Emerson Process Management)/The Sanmar Group

FIo-l"ork Inr Address: 1701 North Main St, Orrville, OH 44667-0068, USA Tel: + 1 330 682 0010 Fax: +1 330 683 6857 Web: www.flo-tork.com President: l Jelinek Production Manager: F Cerny Marketing Manager: TM Leaver No of Employees: 70 Manufacturing Plant Area: 90 000 sq ft Valve Products: Actuators

Flowel Valves Address: B- 102, Shubhlaxmi Complex, Ahmedabad 380 013, India Tel: +91 79 7414077 Valve Products: Ball, Gate, Globe

Fitting-P Address: PO Box 244, Naberezhny Chelny, Tatarstan 423810, Russia Tel/Fax: +7 8552 550028/553295/553460/ 551922 Web: www.fitting.ru Valve Products: Check, Gate

Flow-Quip Inc Address: 7440 E 46 th Place, Tulsa, OK 74145, USA Tel: +1 918 663 3313 Fax: + 1 918 663 9034 Web: ~vw.flowquip.com No of Employees: 18 Manufacturing Plant Area: 6500 sq m Quality Assurance Certification: ISO 9001 Valve Products: Actuators

Flocon Systems PVT Ltd Address: 288 Pappankuppam, Gummidipundi, Tamil Nadu, India Tel: +91 4119 222990 Fax: +91 4119 222390

Flowsafe Ine Address: $3865 Taylor Rd, Orchard Park, NY 14127, USA Tel: + 1 716 667 3640/2585 Fax: + 1 716 667 2580

jv Valve Products: Control, Regulators

Directory of Valve Companies

Web: www.flowsafe.com President: Kevin Martin Valve Products: Safety

Flowserve Corp Address: 5215 North O'Connor Blvd, Suite 2300, Irving, TX 75039, USA Tel: +1 972 443 6500 Fax: +1 972 443 6800 Web: www.flowserve.com Valve Products: Ball, Butterfly, Check, Control, Gate, Globe, Plug, Actuators Flowserve Corp Address: 701 First St, Williamsport, PA 17701, USA Tel: +1 570 327 4800 Fax: + 1 570 327 4805 Web: ww~:flowserve.com General Manager: John Chappeil Flowserve Corp Address: 1350 North Mountain Springs Parkway, Springville, UT 84663-0903, USA Tel: + 1 801 489 8611 Fax: +1 801 489 3719 Web: w~v.flowserve.com Vice President, Technology & Marketing: Roger Barnes Valve Products: Ball, Butterfly, Check, Control, Globe, Actuators Flowserve Corp (Edward Valves) Address: 1900 South Saunders St, Raleigh, NC 27603, USA Tel: + 1 919 832 0525 Fax: + 1 919 831 3369 Web: x~vw.edwardvalves.com President: Arnold Wallace Valve Products: Check, Gate, Globe Flowserve Corp-Flow Control Address: 1511 Jefferson St, Sulphur Springs, TX 75482, USA Tel: +1 903 885 3151 Fax: + l 903 439 3411 Web: www.flowserve.com Managing Director: Nigel Christopher Production Manager: Chuck Askins

Profile of the International Valve Industry .... 193

I0

Directory of Valve Companies

Marketing Manager: Corlette Womack No of Employees: 250+ 2003 Sales of Valves: US$50 million Manufacturing Plant Area: 28 000 sq m Quality Assurance Certification: ISO 9001, API 6A & 6D, PED Certit~,ing Body: API, Lloyd's Register Parent Company: Flowserve Corp, USA Valve Products: Ball, Diaphragm, Plug, Polyethylene Flowserve Corp (Worcester ControlslMcCannalMarpacl Noble Alloy) Address: 1978 Foreman Drive, Cookeville, TN 38501, USA Tel: +1 931 432 4021 Fax: § 931 432 5518 Web: w~'.worcestercc.com Valve Products: Ball, Control, Actuators Flowserve Essen GmbH Address: Manderscheidtstrasse 19, D-45141 Essen, Germany Tel: +49 201 8919 5 Fax: +49 201 8919 600 Web: www.flowserve.com Parent Company: Flowserve Corp, USA Valve Products: Ball, Butterfly, Check, Control, Globe, Plug, Pressure, Actuators Flowserve Flow Control GmbH (ex Argus Valves) Address: Rudolf-Plantk-str 2, 76275 Ettlingen, Germany Tel: +49 7243 103 0 Fax: +49 7243 103 222 Web: w~av.argus-valves.com No of Employees: 290 2000 Sales: E50 million Parent Company: Flowserve Corp, USA Valve Products: Ball, Actuators Flowserve Flow Control UK (ex- Valtek Engineering) Address: Station Rd, Pershore, Worcester WR10 2BZ, UK Tel: +44 1386 554551

194

Fax: +44 1386 554969 Web: www.flowserve.com Parent Company: Flowsserve Corp, USA Valve Products: Ball, Butterfly, Control, Globe, Plug, Safety, Actuators Flowserve Control UK (exWorcester Controls/Serck Audco Valves) Address: Burrell Rd, Haywards Heath, Sussex RH 16 1TL, UK Tel: +44 1444 314400 Fax: +44 1444 314401 Web: x~av.worcestercontrols.co, uk Managing Director: Bob Whitley Production Manager: Bob Sherrard Marketing Manager: Bob Bennett No of Employees: 300 Parent Company: Flowserve Corp, USA Valve Products: Ball, Butterfly, Check, Control, Gate, Globe, Plug, Pressure, Actuators

Flowserve SpA Address: Via Prealpi 30, 20032 Cormano (MI), Italy Tel: +39 02 663251 Fax: +39 02 6151863 FNC srl Address: Via Damiano Chiesa 27, 21042 Caronno Pertusella (VA), Italy Tel: +39 02 96 50 591 Fax: +39 02 96 59 313 Web: x~vw.filcitalia.it Valve Products: Breather, Safety Forac Ltd Address: Brunswick St East, Hove, East Sussex BN3 1AU, UK Tel: +44 1273 775254 Fax: +44 1273 770022 Web: ~ v . forac.co.uk Valve Products: Actuators Fratelli Fortis Srl Address: Via Dr Bellosta 34, 28017 San Maurizio d'Opaglio (NO), Italy Tel: +39 0322 96215/96444 Fax: +39 0322 967276

Profile of the International Valve Industry

Web" ww~s:fortis.it President: Giacomo Fortis No of Employees: 15 2003 Sales of Valves: US$3.5 million Manufacturing Plant Area: 10 000 sq m Valve Product Types; Ball, Check, Control, Gate, Globe, Needle

Fouress Engineering (India) Ltd Address: Mahalaxmi Chambers 22, Bhulabhai Desai Rd, Mumbai 400 0026, India Tel: +91 22 4964400 Fax: +91 22 4937544 Web: ww~x.fouressengg.com Additional Factories: Bangalore, Aurangabad Parent Company: Fouress Group Valve Products: Check, Control, Gate, Globe, Actuators Frank GmbH Address: Starkenburgstrasse 1, D64546 M6rf~lden-Waldorf, Germany Tel: +49 6195 926 0 Fax: +49 6105 926 49 Web: w~,.fi'ank-gmbh.de Valve Factory: Xorella-Frank AG, Hardstrasse 41, CH- 5430 Wettingen, Switzerland Valve Products: Plastic- Ball, Butterfly, Check, Diaphragm Friatec AG - Bereich Armaturen Address: Theodor-Jansen-Str, 66386 St Ingbert, Germany Tel: +49 6894 593-0 Fax: +49 6894 593179 Web: ~ ' . fi'iatec.de No of Employees: 250 Parent Company: Altaxis Friatec-Rheinhfitte GmbH & Co Address: Rheingaustrasse 96- 100, D-65203 Wiesbaden, Germany Tel: +49 611 604 0 Fax: +49 611 604 328 Web: www.rheinhuette.de No of Employees: 200 2003 Sales: E27.5 million Parent Company: Altaxis Valve Products: Ball, Butterfly, Gate, Globe

10 Directory of Valve Companies

Fromme Armaturen GmbH & Co KG Address: Haupstrasse 12, D-38275 Haverlah, Germany Tel: +49 5341 33 84 11 Fax: +49 5341 33 84 13 Web: www.fromme-armaturen.de Factory: Suzhou Fleu Valve Co Ltd, China No of Employees: 18 Sales: (~6 million Valve Products: Ball, Butterfly, Check, Gate, Globe Fujikin Inc Address: Kita Hankyu Building, 14-8 Shibata 1-chome, Kita-ku, Osaka 530-0012, Japan Tel: +81 6 6372 7141 Fax: +81 6 6375 0697 Web" www.fujikin.com Factory: 90 Shinke Higashi-machi, Higashi-Osaka 577-0026, Japan Valve Products: Ball, Check, Control, Diaphragm, Gate, Globe Fukui Seisakusho Co Ltd Address: 6.1-chome, Shodai Tajika, Hirakata-shi, Osaka 5731003, Japan Tel: +81 72 857 4527 Fax: +81 72 857 3324 Web" www.fkis.co.jp Managing Director: T Fukui Production Manager: S Kobayashi Marketing Manager: T Shimada No of Employees: 155 2003 Sales of Valves: US$26.5 million Manufacturing Plant Area: 15 000 sq m Valve Products: Breather, Pilot Operated Safety, Pressure, Safety Relief, Vacuum Breaker Furukawa Kogyo Co Ltd Address: 726 Furusawa-Cho, Hikone-shi, Siga 522-007, Japan Tel: +81 749 22 1800 Fax: +81 749 22 1154 President: Masataka Furukawa Vice President: Masami Furukawa Additional Factory: Matubara Valve Products: Check, Gate, Globe

Fushiman Co Ltd Address: 4-6-12, Omori-Minami, Ota-ku, Tokyo 143-0013, Japan Tel: +81 3 5755 7850 Fax: +81 3 5755 7862 Web" www.fushiman.co.jp No of Employees: 106 2003 Sales: u million Valve Products: Control, Safety, Solenoid GA Industries Inc Address: 9025 Marshall Rd, Cranberry Township, PA 160663696, USA Tel: + 1 724 776 1020 Fax: +1 724 776 1254 Executive Vice President: G Cohon Valve Products: Ball, Butterfly, Check, Control, Float, Pressure, Solenoid, Actuators

GachotlKeystone Groupe Tyco Address: 26 avenue de Paris, 95237 Soisy-sous-Montmorency Cedex, France Tel: +33 1 39 34 35 36 Fax: +33 1 39 89 02 76 Parent Company: Tyco International, USA Valve Products: Bail, Butterfl); Gate, Globe, Needle Galli & Cassina SpA Address: Via Drizza 30/32, 20020 Solaro (MI), Italy Tel: +39 02 96799632/3 Fax: +39 02 96799699 Web: ~~,.gallicassina.it No of Employees: 73 2002 Sales: (~6.9 million Valve Products: Plug Garlock Valves & Industrial Plastics Address: 602 North 10th St, Camden, NJ 08 ] 02, USA Tel: + 1 609 964 0370 Fax: +1 609 541 4982 Valve Products: Butterfly, Plug Gedik D6kQm ve Vana Sanayi ve Ticaret A~} Address: Yayalar Mah Yaylar Cad No 78, 34916 Pendik/Istanbul, Turkey

Tel: +90 216 307 12 62 Fax: +90 216 307 28 68 Web: www.gedikdokum.com No of Employees: 260 Manufacturing Plant Area: 72 000 sq m Quality Assurance Certification: ISO 9001 Certifying Body: TOV Parent Company: Gedik Holding Valve Products: Ball, Butterfly, Check, Globe Gefa Processtechnik GmbH Address: Germaniastrasse 28, D44379 Dortmund, Germany Tel: +49 231 610 09 0 Fax: +49 231 610 09 80 Web: www.ge|~.com Managing Director: Dieter Maier No of Employees: 75 2003 Sales: (~6.3 million Valve Products: Ball, Butterfly, Check, Gate, Actuators Geier Armaturen GmbH & Co KG Address: Am RosenhLigel 21-27, D-42553 Velbert, Germany Tel: +49 2053 93 04 0 Fax: +49 2053 77 32 Web: ww~:geier-armaturen.de Managing Director: Mr Gatermann Production Manager: Mr Wallmichradt Marketing Manager: Mr Schmalz No of Employees: 13 Valve Products: Gate GEl Gruppo Energia Italia Srl Address: Via Pennella 94, 38057 Pergine Valsugana (TN), Italy Tel: +39 0461 532552 Fax: +39 0461 533117 Web: www.geivalvole.it Valve Products: Ball, Butterfly, Check, Control, Gate, Globe, Pressure Reducing Gemii Apparatebau GmbH & Co KG Address: Fritz-Mfiller-Strasse 6-8, D-74653 Ingelfingen, Germany Tel: +49 79 40 123 0 Fax: +49 79 40 123192

Profile of the International Valve Industry

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10 Directory of Valve Companies

Web: www.gemue.de Managing Director: Fritz Miiller Production Manager: Hermann Walter Marketing Manager: Reiner Bengel No of Employees: 820 (Group Worldwide) Quality Assurance Certification: ISO 9001:2000 Valve Products: Ball, Butterfly, Check, Diaphragm, Globe, Actuators Gestra Address: Miinchener Strasse 77, D-28215 Bremen, Germany Tel: +49 421 35 03 0 Fax: +49 421 35 03 393 Web: www.gestra.de Parent Company: Flowserve Corp, USA Valve Products: Ball, Check, Control, Sati:ty Ghibson Italia srl Address: Via Cassola 6/9, 40050 Monteveglio (BO), Italy Tel: +39 051 835711 Fax: +39 051 830344 Web: www.ghibson.it No of Employees: 42 2002 Sales: E4.9 million Valve Products: Butterfly, Check Giacomini SpA Address: Via per Alzo 39, 28017 San Maurizio d'Opaglio (NO), Italy Tel: +39 0322 923111 Fax: +39 0322 923255 Web: www'giac~176 Managing Director: Corrado Giacomini Production Manager: Luca Giacomini Marketing Manager: Gilda Giacomini No of Employees: 850 2003 Sales of Valves: US$140 million Manufacturing Plant Area: 110 000 sq m

Quality Assurance Certification: ISO 9001, ISO 14001, ISO 9002

196

Certifying Body: BS1, IQNET, CISO Valve Products: Ball, Butterfly, Gate Gilmore Valve Co

Address: 1231 Lumpkin Rd, Houston, TX 77043, USA Tel: +1 713 468 8778 Fax: + 1 713 468 8791 Web: w~v.gil morevalve.com Managing Director" David Beltrami Sales & Marketing Director: Bill Littleton Manufacturing Plant Area: 40 000 sq t't Valve Product Typres: Check, Pressure Relief, Solenoid Gimpel Corp Address: 480 Norristown Rd, PO Box 350, Blue Bell, PA 194220766, USA Tel: +1 610 825 2100 Fax: + 1 610 940 5419 Parent Company: Tyco International, USA Valve Products: Control, Safety Globe Industrial Valves (India) Pvt Ltd Address: 14 Sopariwala House, 1st Floor, 293 Princess St, PO Box 2521, Mumbai 400 002, India Tel: +91 22 2061758 Fax: +91 22 2050617 Valve Products: Check, Gate, Globe, Needle GGOSCO Engineering Inc

Address: Unit 4, 1272 Speers Rd, Oakville, Ontario L6L 5T9, Canada Tel: +1 905 825 2627 Fax: +1 905 825 4051 Web: www.ggosco.com Valve Products: Ball, Control, Actuators Gnutti Sebastiano & Figli SpA Address: Via Montesuello 47, 25065 Lumezzane (BS), Italy Tel: +39 030 827292 Fax: +39 030 8920693 Web: w~v.gnuttisebastiano.com

Profile of the International Valve Industry

No of Employees: 211 2001 Sales: E24.8 million Valve Products: Ball, Check, Gate Gold Valve Industrial Co Ltd (GVC) Address: #974-14 Yangdeok-dong, Hoiwon-ku, Masan City, Kyoungnam, South Korea Tel: +62 551 252 2555/7 Fax: +62 551 299 3869 Web: ~vw.goidvalve.com Valve Products: Check, Gate, Globe Goodwin International Address: Goodwin House, Leek Rd, Hanley, Stoke-on-Trent ST1 3NR, UK Tel: +44 1782 220000 Fax: +44 1782 208060 Web: wv,~.goodwin.co.uk Parent Company: Goodwin plc, UK Valve Products: Check, Plug Goodwin Korea Address: #382-45 WonchangDong, Seo-Gu, Incheon, South Korea Tel: +82 32 579 6313 Fax: +82 32 579 6314 Web: x~v.goodwin.co.kr Parent Company: Goodwin plc, UK Valve Products: Check Gossler Fluidtec GmbH Address: Borsigstrasse 4-6, D21465 Reinbek, Germany Tel: +49 40 7 27 09 0 Fax: +49 40 7 27 09 228 Web: ~~'.gossler.de Valve Products: Ball Gerhard G6tze KG Address: Robert-Mayer-Strasse 21, D-71636 Ludwigsburg, Germany Tel: +49 7141 488 94 60 Fax: +49 7141 488 94 88 Web: w~v.goetze-armaturen.de Marketing Manager: Sonia Weimann No of Employees: 35 2003 Sales: E3.9 million Quality Assurance Certification:

10 Directory of Valve Companies

ISO 9001/2000 Germanisch Lloyd Valve Products: Pressure

Greiner SpA Address: Via Montesuello 212, 25065 Lumezzane (BS), Italy Tel: +39 030 8927511 Fax: +39 030 8927590 Web: www.greiner.it No of Employees: 71 2002 Sales: E14.8 million Valve Products: Ball, Check, Gate Grinnell Supply Sales and Manufacturing Address: 3 Tyco Park, Exeter, NH 03833, USA Tel: + 1 603 778 9200 Fax: +1 603 778 9260 Parent Companu: Tyco International, USA Valve Products: Bali, Butterfly, Check, Diaphragm, Gate, Globe, Plug, Pressure, Actuators Groquip Address: 37056 Cornerview Road, Geismar, LA 70765, USA Tel: + 1 225 673 6132 Fax: +1 225 673 8792 Parent Company: Curtiss-Wright Cotrp, USA Groth Corp Address: 13650 N Promenade, Stafford, TX 77477, USA Tel: + 1 281 295 6800 Fax: +1 281 295 6999 Web: www.grothcorp.com Parent Company: Continental Disc Corp, USA Valve Products: Relief Grove Dresser Italia SpA Address: Via Italo Betto 11, 27058 Voghera, Italy Tel: +39 0383 6911 Fax: +39 0383 367166 Web: www.grove.it Parent Company: Dresser Inc, USA Valve Products: Ball, Butterfly, Gate, Plug

GT Attuatori Srl Address: Viale Europa 17, 20090 Cusago (M I ), Italy Tel: +39 02 90390322 Fax: +39 02 90390368 Web" ~asav.gtrevisan.it Sales: s million Valve Products: Solenoid, Actuators Guichon Valves Address: rue Jacqueline Auriol, BP 401, F-73104 Aix-les-bains Cedex, France Tel: +33 4 79 61 40 00 Fax: +33 4 79 35 24 02 Web: ww~s:guichon.com Managing Director: Thierry Perrier Production Manager: Eric Tosolini Marketing Manager: Thierry Perrier No of Employees: 45 2003 Sales of Valves: US$4.5 million Manufacturing Plant Area: 2500 sq m Quality Assurance Certification: ISO 9001 Certifying Body: LRQA Valve Products: Ball, Gate, Globe, Piston, Plug Sampling, Tank Bottom

2003 Sales of Valves: US$8 million Manufacturing Plant Area: 4000 sq m Valve Products: Butterfly, Check

Gurtner SA Address: 40 rue de la Lib&ation, 25300 Pontarlier, France Tel: +33 3 81 46 70 22 Fax: +33 3 81 39 29 50 Web: www.gurmer.fr Chairman: Bruno Tracco No of Employees: 156 2002 Sales: (~15.1 million Valve Products: LNG Wilhelm Guth GmbH & Co KG Address: Horstring 16, Postfach 1309, D-76829 Landau, Germany Tel: +49 6341 5105 0 Fax: +49 6341 548 88 Sales: (~12.0 million No of Employees: 150 Valve Products: Aseptic Regulating, Bottom Drain, Diverter, Sampling

Gulf Valve Co Address: 6511 Winfree St, Houston, TX 77207-2157, USA Tel: + 1 713 644 7333 Fax: + 1 713 644 0047 Web: www.tycovalves-na.com President: R Gasaway Parent Company: Tyco International, USA Valve Products: Check

H+Valves SA Address: Impasse les Saillants, BP 79, 69380 Lozanne, France Tel: +33 4 78 43 91 52 Fax: +33 4 78 43 91 01 Web: ww~s:hvalves.com Managing Director: Mr Ozil Production Manager: Mr Dupre Marketing Manager: Mr Ozil No of Employees: 25 2003 Sales of Valves: US$2.4 million Manufacturing Plant Area: 2400 sq m Valve Products: Pressure, Safety Relief, Sampling Systems

Gunric Valve Manufacturing (Pty) Ltd Address: PO Box 255, Florida 1709, South Africa Tel: +27 11 474 6180 Fax: +27 11 474 6136 Web: www.gunric.com Managing Director: Gunter Schmikal Production Manager: Jose Carolino No of Employees: 50

Habonim Industrial Valves Ltd Address: Kfar Hanassi 12 305, Israel Tel: +972 4 6914910 Fax: +972 4 6914902 Web: w~.habonim.com Managing Director: Uri Uliner Marketing Manager: Yair Doari No of Employees: 130 Manufacturing Plant Area: 8000 sq m Valve Products: Ball

Profile of the International Valve Industry

197

10 Directory of Valve Companies

Hagiwara Valve Industry Co Ltd Address: l- 16-1 Shirokane, Minato-ku, Tokyo 108-0072, Japan Tel: +81 3 3443 8451 Fax: +81 3 3443 8456 Valve Products: Check, Control, Gate, Globe, Safety Haitima Corp Address: 8F, No 201 Titing Boulevard Sec 2, Neihu Area, Taipei 114, Taiwan ROC Tel: +886 2 26585800 Fax: +886 2 26582266 Web: ~s~r162 haitima.com.tw Valve Products: Ball Albert Handtmann Armaturenfabrik GmbH & Co KG Address: Arthur-HandtmannStrasse 23, D-88400 Biberach, Germany Tel: +49 7351 3 42 0 Fax: +49 7351 34 244 80 Web: www.handtmann.de 2003 Sales: El4 million Valve Products: Butterfly, Globe Hanna Corp Address: 1765 N Elston Avenue, Chicago, IL 60622, USA Tel: +1 773 384 7000 Fax: +1 773 384 5224 Sales & Marketing Manager: Dave Norberg Valve Products: Actuators Hansa Metallwerke AG Address: Sigmaringer Strasse 107, D-70567 Stuttgart, Germany Tel: +49711 1 6 1 4 0 Fax: +49 711 16 14 436 Web: www.hansa.de Managing Director: Mr Boetzkes No of Employees: 2000 Quality Assurance Certification: ISO 9001 Valve Products: Ball, Overflow, Pressure, Pressure Relief, Shut-Off Dipl-lng Werner Hartmann KG Address: Bussardweg 15, D-31303 BurgdorfEhlershausen, Germany

198

Tel: +49 5085 9801-0 Fax: +49 5085 9801-40 Web: ww~: hartmann-valves.com President: Werner Hartmann No of Employees: 49 2003 Sales: E5 million Valve Products: Ball, Specials Has Ltd Address" 1-2 Gojukken-Minami, Terazucho, Nishio-shi, Aichi 4440396, Japan Tel: +81 563 59 6660 Fax: +81 563 59 5118 Valve Products: Ball, Butterfly, Gate Hatanaka Special Valve Industries Co Ltd Address: l-3-I l, Fukkagawa Kotoku, Tokyo 135-0033, Japan Tel: +81 3 3820 5671 Fax: +81 3 5639 5115 Web" w~,.hsv.co.jp Valve Products: Ball, Check, Flush Bottom, Gate, Globe, Needle, Piston, Plug, Safety HCHTS Industries Corp (HICO) Address: 8F-I 5,409 Lin-Shen North Rd, Taipei 104, Taiwan Tel: +886 2 25818803 Fax: +886 2 25614751 Web" ~v.hicovalve.com Valve Products: Ball, Gate, Globe, Check Heiwa Valve Co Ltd

Address: 5-2-11 Nishi-Gotanda, Shinagawa-ku, Tokyo 141-0031, Japan Tel: +81 3 3493 5855 Fax: +81 3 3493 5858 Web: www.heiwa-valve.co.jp Valve Products: Stainless Steel Henry Technologies Ltd Address: Mossland Rd, Hillington Park, Glasgow G52 4XZ, UK Tel: +44 141 882 4621 Fax: +44 141 882 4624 Web: w~v.henrytech.co.uk Vah,e Products: Ball, Check, Compressor Shut-Oft, Pressure Relief

Profile of the International Valve Industry

MG Herl Armaturenfabrik GmbH & Co KG Address: Wankelstrasse 40, D50996 K61n, Germany Tel: +49 2236 39 O0 0 Fax: +49 2236 39 00 39 Web: ~~'.herl.de Managing Director: Madeleine Herl 2003 Sales: E11 million Manufacturing Plant Area: 4800 sq m No of Employees: 50 Valve Products: Check, Control, Globe, Safety Herose GmbH Armaturen und Metalle

Address: Elly- Heuss-Knapp-Strassc. ]2, D-23843 Bad Oldcsloe, Germany Tel: +49 4531 509 0 Fax: +49 4531 509 1 20 Web: w~v.herose.de No of Employees: 105 2002 Sales: E11.5 million Valve Products: Ball, Check, Control, Globe, Pressure Reducing, Sat~ty Hex Valve Division- Richards Industries Address: 3170 Wasson Rd, Cincinnati, OH 45209, USA Tel: +1 513 533 5600 Fax: +1 513 871 0105 Web: www.hexvalve.com Mangaging Director: J Anthony George Production Manager: Douglas Perham Marketing Manager: Kevin Kahn No of Employees: 120 2003 Sales of Valves: US$22 million Manufhcturing Plant Area: 22 500 sq m Quality Assurance Certification: ISO 9001:2000 Certifying Body: ABS Parent Company: Richards Industries, USA Valve Products: Block & Bleed, Gauge, Manifold, Needle

10 Directory of Valve Companies

High Pressure Equipment Co Address: 1222 Linden Ave, Erie, PA 16505, USA Tel: +1 814 838 2028 Fax: + 1 814 838 6075 Web: www.highpressure.com Managing Director: M Bathers Production Manager: Kevin Stewart Marketing Manager: Larry Loper No of Employees: 45 Quality Assurance Certification: ISO 9001 Valve Products: Ball, Check, Needle, Relief Hindle Cockburns Ltd Address: Victoria Rd, Leeds LS 11 5UG, UK Tel: +44 113 2443741 Fax: +44 113 2441872 Web: www.hi ndlevalves.co, uk Parent Company: Tyco International, USA Valve Products: Ball, Butterfly, Check Hirata Valve Industry Co Ltd Address: 3-2-3 Hisamoto, Takatsuku, Kawasaki 213-8691, Japan Tel: +81 44 833 2311 Fax: +81 44 822 5101 Web: w~av.hvi.co.jp No of Employees: 156 2003 Sales: u million Valve Products: Ball, Butterfly, Check, Control, Diaphragm, Gate, Globe, Solenoid Hirayama Suiko Co Lid Address: 5-~; Miyamachi, Yao-shi, Osaka 581-0815, Japan Tel: +81 729 99 3401 Fax: +81 729 99 3403 Valve Products: Ball, Check Hirose Valve Industry Co Ltd Address: 2-34 Yasukiyocho, Hikone-shi, Shiga 522-0082, Japan Tel: +81 749 23 2020 Fax: +81 749 23 2027 Web: www.hirose-valve.co.jp No of Employees: 110 2003 Sales: u 1751 million Valve Products: Ball, Check, Globe, Solenoid

Hisaka Works Ltd Address: 4-2-14 Fushimimachi, Chuo-ku, Osaka 541-0044, Japan Tel: +81 6 6201 3531 Fax: +81 6 6223 1419 Web: www.hisaka.co.jp President: S Hayashi No of Employees: 442 2003 Sales: u billion Valve Factory: 2-5-27 Nonakakita, Yodagggawa-ku, Osaka, Japan (Tel: +81 6 6391 8940) Valve Products: Ball, Control

Hitachi Valve Ltd Address: 200 Obuke, Asahi-Cho, Mie-Gun, Mie-Ken 510-8102, Japan Tel: +81 593 77 4711 Fax: +81 593 77 2714 Web" www.hitachi-valve.co.jp No of Employees: 300 Valve Products: Ball, Check, Control, Gate, Globe Andreas Hofer Hochdrucktechnik GmbH Address: Ruhrorter Strasse 45, D45478 Miilheim, Germany Tel: +49 208 469 96 0 Fax: +49 208 469 96 11 Web: www.andreas-hofer.de Managing Director: Andreas K0ttnitz Marketing Manager: Ingo Meyn No of Employees: 60 2003 Sales: (~9 million Manufacturing Plant Area: 1000 sq m Valve Products: Globe, Safety Hoke Inc Address: 405 Centura Rd, Spartanburg, SC 29303, USA Tel: + 1 864 574 7966 Fax: + 1 864 587 5608 Web: www.hoke.com Valve Products: Ball, Diaphragm, Needle, Plug

Holter Regelarmaturen GmbH & Co KG (HORA) Address: Helleforthstrasse 58-60, D-33758 Schloss HolteStukenbrock, Germany Tel: +49 5207 89 03 0

Fax: +49 5207 8 80 37 Web: ~avw.hora.de No of Employees: 190 2002 Sales: (~21.8 million Valve Products: Control, Custom Design, Steam Conditioning, Steam Pressure Reducing, Actuators Homestead Valve Division Address: 160 Walnut St West, Allentown, PA 18102, USA Tel: +1 610 770 1100 Fax: +1 610 770 1171 Web: ww~: homesteadvalve.com Managing Director: Erik J Olson Production Manager: R Lutton Marketing Manager: S Warm Kessel No of Employees: 48 2003 Sales of Valves: US$6 million Parent Company: Olson Technologies Inc Valve Products: Butterfly, Control, Plug Honeywell GmbH Address: Hardhofweg, D-74821 Mosbach, Germany Tel: +49 6261 81 0 Fax: +49 6261 81 393 Web: , ~ v . honeywell .de No of Employees: 500 2003 Sales of Valves: US$100 million Quality Assurance Certification: ISO 9001/2000 Certifying Body: TOV Parent Company: Honeywell Inc, USA Valve Products: Check, Control, Diaphragm, Pressure

HO Trerice Co Address: 12950 W Eight Mile Rd, Oak Park, MI 48237, USA Tel: +1 248 399 8000 Fax: +1 248 399 7246 Web: www.trerice.com Managing Director: Robert Hickey Production Manager: Roy Buntin Parent Company: Picut Industries Valve Products: Control, Globe, Needle, Actuators

Profile of the International Valve Industry

199

10 Directory of Valve Companies

Howkoku Valve Mfg Co Ltd Address: 5-2-8 Koyama, Fujiderashi, Osaka 583-0033, Japan Tel: +81 729 55 8481 Fax: +81 729 55 8482 Valve Products: Check, Gate, Globe HP Valves Oldenzaal BV Address: Kleibultweg 69, 7575 BW Oldenzaal, The Netherlands Tel: +31 541 519555 Fax: +31 541 522045 Web: www.hpvalves.com No of Employees: 28 Parent Company: Welna Group Valve Products: Check, Gate, Globe, Needle Hunt Valve Co Address: 1913 East State St, Salem, OH 44460, USA Tel: +1 330 337 9535 Fax: +1 330 337 3754 Web: www.hunwalve.com President & CEO: Gerald Bogner Manufacturing Plant Aa'ea: 100 000 sq ft Valve Products: Ball, Check, Control, Diaphragm, Gate, Globe, Plug, Pressure, Solenoid, Actuators

Huot Groupe Saint-Mihiel SA Address: 2 rue de ia Marsoupe BP 36, 55301 Saint Mihiel Cedex, France Tel: +33 3 29 91 66 55 Fax: +33 3 29 90 20 17 Valve Products: Ball, Check Hydroseal Valve Co Inc Address: 1610 N Hwy 259, Kilgore, TX 75662, USA Tel: +1 903 984 8574 Fax: +1 903 984 6307 Web: ~~,.hydroseal.com Sales & Marketing Manager: Will Garvin Valve Products: Check, Pressure Relief Hytork Controls Ltd Address: 6 Brackenhill, South West Industrial Estate, Peterlee, Co Durham SR8 2LS, UK Tel: +44 191 518 0020

200

Fax: +44 191 518 0032 Web: www.hytork.com Additional Factory: Eastern Avenue, Gloucester GL4 7BY, UK (Tel: +44 1452 381000) Parent Company: Emerson Electric Co, USA Valve Products: Actuators SC IAIFO SA Address: 58 Mihai Viteazu Blvd, 450090 Zalau, Romania Tel: +40 260 661550 Fax: +40 260 661594 Web: www.iaifb.ro Managing Director: loan Cloran Production Manager: loan David No of Employees: 1200 2003 Sales of Valves: US$10 million Manufacturing Plant Area: 166 800 sq m Quality Assurance Certification" TUV ISO 9001; TUV-PED Certit~,ing Body: API Valve Products: Ball, Butterfly, Check, Control, Gate, Globe IBC Praha Address: Karlgtejnsk/t 9, CZ 252 25 Jino~an); Czech Republic Tel: +420 251006 111 Fax: +420 251006 222 Web: www.armatury.cz Managing Director: Jaroslav Hanousek Production Manager: Zdenek Polda Marketing Manager: Jan Opocensky No of Employees: 35 2003 Sales of Valves: US$6.5 million Manuthcturing Plant Area: 450 sq m Quality Assurance Certification: ISO 9001: 2000 Certifying Body: TUV Parent Company: Equity Brokers Valve Products: Ball, Butterfly, Check, Control, Gate, Needle IBK-Wiesehahn GmbH Address: Raiffifisenstrasse 5, D46244 Bottrop, Germany Tel: +49 2045 89 03 0

Profile of the International Valve Industry

Fax: +49 2045 89 03 20 Web: www.ibk.de Valve Products: Bail, Check, Gate, Globe, Safety Icarus SA Address: Parc Industriel des Hauts Sarts, Zone 3, rue des Alouettes 100, B-4040 Herstal, Belgium Tel: +32 4 240 01 01 Fax: +32 4 240 06 40 Web: www.icarus-be.com Manuf~tcturing Plant Area: 2600 sq m Sales: C14.4 million (2001 ) Valve Products: Ball, Bottom, Butterfly, Check, Gate, Globe, l~lif~, Slide, Needle, Safety Ichinose Co Ltd Address: 4-7-6 Itachibori, Nishiku, Osaka 550-0012, Japan Tel: +81 6 6539 3112 Fax: +81 6 6536 3165 Web: www.insins.co.jp No of Employees: 64 2003 Sales: u million Valve Products: Ball, Check, Gate, Globe Ihara Science Corp Address: 13-17 Oi 4 chome, Shinagawa-ku, Tokyo 140-0014, Japan Tel: +81 3 5742 2701 Fax: +81 3 5742 2233 Web" w,a.~:ihara-sc.co.jp Managing Director: Tadashi Tsuboi Factories: Tsukechi (Gifu Pref), Nakaizu (Shizuoka Pref), Higashine (Yamagata Pref) No of Employees: 310 Valve Products: Ball, Bellows, Check, Control, Diaphragm IKAR JSC Address: 18 Khimmachevskaya Str, Kurgan 640027, Russia Tel: +7 35222 97209 Fax: +7 35222 70685 Web: x~-ww.ikar.zaural.ru Valve Products: Gate, Globe, Butterfly, Ball, Check, Specials

10 Directory of Valve Companies

IMI Norgren Buschjost GmbH & Co KG Address: Detmolder Strasse 256, D-32545 Bad Oeynhausen, Germany Tel: +49 5731 791 0 Fax: +49 5731 791 179 Web: www.buschjost.com General Manager: Thomas Voigt Sales & Marketing Manager: Gerd Bahr No of Employees: 260 2003 Sales: ~32 million Parent Company: IMI plc, UK Valve Products: Control, Diaphragm, Pressure, Solenoid Incatronic-Ph6nix Messtechnik GmbH Address: Salzschlirfer Strasse 13, D-60386 Franktiart, Germany Tel: +49 69 41 80 42 Fax: +49 69 41 10 41 Web: www.phoenix-mt.com Valve Products: Control, Safety Indelac Controls Inc Address: 6810 Powerline Drive, Florence, KY 41042, USA Tel: + 1 800 662 9424 Fax: +1 859 727 4070 Web: www.indelac.com President: James Robinson Valve Products: Actuators Indian Valve Pvt Ltd (IVC) Address: 53 Industrial Estate, Satpur, Nashik 422007, India Tel: +91 253 2350170 Fax: +91 253 2351673 Web: www.ivc_india.com Valve Products: Air, Butterfly, Check, Gate, Pressure Control Indra srl Address: Via Novara 10/B-C, 20013 Magenta (MI), Italy Tel: +39 02 97298663 Fax: +39 02 97291855 Web: www.indra.it Valve Products: Needle Industrial Valves & Tubes Co Address: 67/A Suryaji Compound, Hafizali Bahadur Khan Marg, Mumbai 400 011, India

Tel: +91 22 3091130 Fax: +91 22 3097360 Valve Products: Check, Gate, Globe Insamcor (Pty) Ltd Address: 7-9 Simba St, Sebenza, Edenvale, Gauteng 1613, South Africa Tel: +27 11 609 8610 Fax: +27 11 609 7681 Web: www.insamcor.co.za Managing Directors: H F Hedtrich & F H Bertschy Production Manager: Lucas Venter Marketing Manager: Ray Kirby No of Employees: 63 2003 Sales of Valves: US$4.5 million Manufacturing Plant Area: 2500 sq m Quality Assurance Certification: ISO 9001:2000 Certifying Body: SABS Parent Company: Insamcor Investments Valve Products: Diaphragm, Knife Gate Instrum AG Address: Hauptsrasse 5, CH-4127 Birsfelden/Basel, Switzerland Tel: +41 61 312 1136 Fax: +41 61 312 1126 Web: w~:instrum-ag.com Managing Director: Andre Milnikel No of Employees: 7 Parent Company: Binder Group Manufacturing Plant Area: 200 sq m InterApp AG Address: Grundstrasse 24, CH6343 Rotkreuz, Switzerland Tel: +41 41 798 22 33 Fax: +41 41 798 22 34 Web: www.interapp.net Managing Director: Patrick Zurbuchen Production Manager: Olivier Notz Marketing Manager: Patrick Zurbuchen No of Employees: approx 160 2003 Sales of Valves: approx US$41 million

Quality Assurance Certification: ISO 9001:2000 Valve Products: Butterfly International Valves Lid Address: International House, Willie Snaith Rd, Newmarket, Suflblk CB8 7GG, UK Tel: +44 1683 685000 Fax: +44 1683 664000 Web: x~w~:fiowcon trol.dresser.com Manufacturing Plant Area: 25 000 sq ft Parent Company: Dresser Flow Control, USA Valve Products: Ball, Check, Gate, Globe InterValf Address: Yali Yolu Sokak 56, Ergun Isi Merkezi Kat 1, Bostanci/Istanbul, Turkey Tel: +90 216 410 69 00 Fax: +90 216 410 77 36 Web: www.intervalf.com Manager Director: Cafer Unlu Marketing Manger: Cafer Unlu No of Employees: 43 2003 Sales of Valves: US$4 million Manufacturing Plant Area: 690 sq m Parent Company: Intervalf Dis Ticaret, Turkey Valve Products: Butterfly Intervalve (India) Ltd Address: 212/2 Hadapsar, Off Soli Poonawalla Rd, Hadapsar, Pune 411 028, India Tel: +91 20 699 3900/3904 Fax: +91 20 699 3921 Web: www.poonawallagroup.com General Manager Marketing: Ravi Swaminathan Parent Company: Poonawalla Group, India Valve Products: Butterfly, Check Introl (India) Ltd Address: H-34 MIDC, Ambad, Nashik 422 010, India Tel: +91 253 381434 Fax: +91 253 384413 Valve Products: Control

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10 Directory of Valve Companies

Ishida Valve Mfg Co Ltd Address" Fujishima Building, 4-134 Shiba, Minato-ku, Tokyo 1080014, Japan Tel: +81 3 3455 5271 Fax: +81 3 3455 8690 Web: ~~'.ishida-valve.com President: Akira Ishida Valve Products: Check, Gate, Globe ISl SpA Address: Via Luigi Galvani 6, 38015 Lavis (TN), Italy Tel: +39 0461 247000 Fax: +39 0461 247024 Italprotec sas Address: Vial Maggio 11, 20040 Cavenago Brianza (MI), Italy Tel: +39 02 95 339500 Fax: +39 02 95 335075 Web: www.italprotec.com Valve Products: Butterfly, Check, Diaphragm Italvalv Snc Address: Strada del Corriere 27, 15060 Sant Antonio de Basaluzzo (AL), Italy Tel: +39 0143 489491 Fax: +39 0143 489329 Web: w~v.italvalv.com Managing Director: Roberto Roveta Production Manager: Mauro Repetti No of Employees: 30 2003 Sales of Valves: US$5.5 million Manufacturing Plant Area: 6000 sq m Quality Assurance Certification: ISO 9001:2000 Valve Products: Ball, Butterfly, Control Italvalvole Sas Address: Via Amendola 125, 13836 Cossato, (BI), Italy Tel: +39 015 980641 Fax: +39 015 926297 Web: www.italvalvole.com Valve Products: Ball, Butterfly, Control, Safety, Actuators

202

Ito Koki Co Ltd Address: 10-4 Hakodono-Cho, Higashiosaka City, Osaka 5798037, Japan Tel: +81 729 85 2521 Fax: +81 729 82 2210 Web: www.itokoki.co.jp Additional Factory: 930 Muraki, Ibuki-Cho, Sakata-Gun, Shiga 521-0323, Japan (Tel: +81 749 55 1041) President: Niro Utsumi Production Manager: Teruyuki Tatekawa Marketing Manager: Yasumasa Shigehisa No of Employees: 200 2003 Sales: u million Valve Products: Check, Globe ITT Industries- Engineered Process Solutions Group Address: 33 Centerville Rd, Lancaster, PA 17605-2064, USA Tel: + 1 717 509 2200 Fax: +1 717 509 2316 Web: www.engvah,es.com Additional Factory: 1110 Bankhead Avenue, Amory, MS 38821, USA (Tel: +1 662 256 7185) Managing Director: Lanny Cruse Production Manager: Pat O'Brien Marketing Manager: Lou Gaudio Parent Company: ITT Industries Inc, USA Valve Products: Ball, Butterfly, Check, Diaphragm, Gate, Actuators ITT Industries, Pure-Fie Solutions Group Address: Richards St, Kirkham, Lancashire PR4 2HU, UK Tel: +44 1772 682696 Fax: +44 1772 686006 Web" ~v.ittpureflo.com Manufacturing Plant Area: 16 000 sq ft Parent Company: ITI" Industries Inc, USA Valve Products: Diaphragm

Profile of the International Valve Industry

ITT Industries, Pure-Fie Solutions Group Address: 110-B West Cochran St, Simi Valley, CA 93065, USA Tel: +1 805 520 7200 Fax: +1 805 520 7205 Web: ~v.ittpureflo.com Manufacturing Plant Area: 35 000 sq f~ Parent Company: ITT Industries Inc, USA Valve Products: Diaphragm ITT Richter Chemie-Technik GmbH Address: Otto-Schott-Strasse 2, D47906 Kempen, Germany Tel: +49 2152 1 46 0 Fax: +49 2152 1 46 190 Web: w~.itt-richter.de Managing Director: G Naasner Marketing Manager: M Kluge No of Employees: 220 Manufacturing Plant Area: 7300 sq m Parent Company: ITT Industries Inc, USA Valve Products: Ball, Butterfly, Check, Control, Diaphragm, Glove, Pressure, Sampling, Safety, Actuators Ivano-Frankovsky Valve Plant JSC Address: 229 Konovaltsa Str, Ivano-Frankovsk 76014, Ukraine Tel/Fax: +380 3422 23221 Valve Products: Butterfly, Check, Control, Gate IVR Valvole a Sfera SpA Address: Via Risorgimento 9 Frazione Ara, 28075 Grignasco (NO), Italy Tel: +39 0163 417082 Fax: +39 0163 418630 No of Employees: 85 2000 Sales: E24 million Valve Products: Ball Jamesbury de Mexico SA de CV Address: Ave Retorne el Saucito # 1010, Parque Industrial El Saucito, 31125 Chihuahua, Mexico

10 Directory of Valve Companies

Tel: +52 614 422 0060 Fax: +52 614 422 0955 Web: www.metsoautomation.com Parent Company: Metso Automation, Finland Valve Products: Bali, Butterfly, Actuators JC F~brica de V~lvulas SA Address: Cant~bria 2, Pol Ind Les Salines, 08830 Sant Boi de Llobregat (Barcelona), Spain Tel: +34 936 54 86 86 Fax: +34 936 54 86 87 Web: www.jc-ballvalves.com No of Employees: 41 2002 Sales: 1~12.4 million Valve Products: Ball JCl Regelungstechnik GmbH Address: Westendhof 8, D-45143 Essen, Germany Tel: +49 201 2400 0 Fax: +49 201 2400 253 Web: www.jci.com Valve Products: Control JGM Mess- und Regelsysteme GmbH & Co KG Address: Zieglerstrasse l 0-16, D52078 Aachen, Germany Tel: +49 241 5687 0 Fax: +49 241 5687 300 Web: www.jgeema.de Valve Products: Control, Globe, Safety JL Controls Ltd Address: The Tanneries, Titchfield, Hampshire POI 4 4AR, UK Tel: +44 1329 844406 Fax: +44 1329 844408 Managing Director: Jim Liddicoat Valve Products: Aseptic Diaphragm JMA Jihomoravskd Armaturka spol Sro Address: Lipova alej 3087/1,695 01 Hodonin, Czech Republic Tel: +420 518 318 300 Fax: +420 518 321 246 Web: www.jmahod.cz Chief Executive (Operations): Ing Tomas Urban Parent Company: Bopp & Reuther Group (uhc - IWKA AG)

Valve Products: Butterfly, Ball, Check, Gate JMCM Co Ltd Address: 316-6 Chonheung-ri, Sunggur-eup, Chonan-si Choongnam, South Korea Tel: +82 41 621 0606 Fax: +82 41 621 5465 Web" www.jmcvalve.com US Office: JMC Valve Inc, Houston, TX Valve Products: Ball

John Valve Mfg Factory Co Ltd Address: Rm C, 17 FI, No 270 Chung Ming S Rd, Taichung, Taiwan, ROC Tel: +886 4 23780078 Fax: +886 4 23754978 Web: www.johnvalve.com.tw Factory: 1149-11 Bee San Rd, Tsao Tun Town, Nan Tou Hsien, Taiwan, ROC Quality Assurance Certification: DIN EN ISO 9001:2000 Certifying Body: TUV Valve Products: Ball, Butterfly, Check, Gate, Globe, Needle John Valves Ply Ltd Address: PO Box 279, Ballarat, VIC 3355, Australia Tel: +61 3 5333 0777 Fax: +61 3 5338 1771 Web: w~v.johnvalves.com.au General Manager: Brian Parker National Sales Manager: Kevin Eddy Valve Products: Butterfly, Check, Gate, Globe

Johnson Controls SpA Address: Via Piave 6, 23871 Lomagna (LC), Italy Tel: +39 039 92221 Fax: +39 039 5300827 Web-wv,av.jci.com Parent Company: Johnson Controls Inc, USA Valve Products: Control, Actuators Jordan Controls Inc Address: 5607 West Douglas Avenue, Mihvaukee, WI 53218, USA

Tel: 4-1 414 461 9200 Fax: +1 414 461 1024 Web: www.jordancontrols.com President & CEO: Bob Seidell Production Manager: David Biegomski Marketing Manager: Don Reynolds No of Employees: 90 Manufacturing Plant Area: 10 000 sq m Parent Company: Rotork plc, UK Valve Products: Actuators Jordan Valve Division of Richards Industries Address: 3170 Wasson Rd, Cincinnati, OH 45209, USA Tel: + 1 513 533 5600 Fax: +1 513 871 0105 Web: ww~:jordanvalve.com Managing Director: J Anthony George Production Manager: Douglas Parham Marketing Manager: Kevin Kahn No of Employees: 120 2003 Sales of Valves: US$22 million Manufacturing Plant Area: 22 500 sq m Quality Assurance Certification: ISO 9001:2000 Certifying Body: ABS Parent Company: Richards Industries, USA Valve Products: Control, Pressure, Sanitary, Temperature Regulators, Actuators Jun Enterprises Corp Address: 7F-9, No 12, Lane 609, Sec 5, Chung Hsin Kd, San Chung, Taipei Hsien, Taiwan Tel: +886 2 2999 7120 Fax: +886 2 2999 7056 Web: www.junvalve.com.tw Factory: Sin Le Rd, DianShan Lake, KunShan Town, liangSu, China Valve Products: Ball, Butterfly, Check, Gate, Globe, Needle

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10 Directory of Valve Companies

Juneja Metal Works Address: Variana Village, Kapurthala Rd, PO Basil Guzan, Jalandhar 144 002, India Tel: +91 181 2650321/2650537 Fax: +91 181 2650460 Web: www.junejametalworks.com Managing Director: GS Juneja Production Manager: PS Juneja Marketing Manager: Rajinder Juneja No of Employees: 210 Manufacturing Plant Area: 12 000 sq m Quality Assurance Certification: ISO 9001:2000/CE Mark Certifiying Body: Kema, The Netherlands & TOV Valve Products: Bail, Butterfl); Check, Gate, Steam Kane Kogyo Co Ltd Address: 2036 Okusa, Komaki-shi, Aichi-ken 485-0802, Japan Tel: +81 568 79 2476 Fax: +81 568 79 6422 Web: ww~.kkk-kane.co.jp President: Kiyoshi Ochiai No of Employees: 135 Valve Products: Ball, Gate, Solenoid Kaneko Sangyo Co Ltd Address: 10-6 Shiba 5-chome, Minato-ku, Tokyo 108-0014, Japan Tel: +81 3 3455 1411 Fax: +81 3 3456 5820 Web: www.kaneko.co.jp President: Yosinori Nakamura Factory: Hiratuka No of Employees: 85 Sales: u billion Valve Products: Control, Gate, Globe, Sat~ty, Solenoid Karatu Valve Industry Co Ltd Address: 1525 Haru, Karatsu-shi, Saga 847-0031, Japan Tel: +81 955 77 1111 Fax: +81 955 77 2841 President: Shigetoshi Yamanaga Valve Products: Check, Control, Gate, Globe

204

K Controls Ltd Address: Process House, Stone Close, Horton Rd, West Drayton, Middlesex UB7 8JU, UK Tel: +44 1895 449601 Fax: +44 1895 448586 Web: ~r uk Joint Managing Directors: David Yates, Brian Prince Valve Products: Check Kenda Industrial Corp Address: 9B, 57#, South Hubin Rd, Xiamen 361004, China Tel: +86 592 229 4111 Fax: +86 592 229 4999 Web: ~vw.kendavalve.com Managing Director: Patrick Chen No of Employees: 130 2003 Sales of Valves: US$60 million Manufacturing Plant Area: 25 000 sq m Quality Assurance Certification: ISO 9001 Certil~,ing Body: DNV Valve Products: Ball, Butterfly, Check, Control, Diaphragm, Gate, Globe, Pinch, Plug, Pressure Kent Introl Private Ltd Address: Armytage Rd Industrial Estate, Brighouse, West Yorkshire HD6 1QF, UK Tel: +44 1484 710311 Fax: +44 1484 407407 Web: v~qa,w.vetcogray.com Parent Company: Private Equity Group Valve Products: Control

Kerotest Manufacturing Corp Address: 5500 Second Avenue, Pittsburgh, PA 15207, USA Tel: +1 412 521 4661 Fax: +1 412 521 2160 Web: x~vw.kerotest.com Additional Factory: Louisiana President: R Visalli Valve Products: Ball, Gate, Globe, Needle

Keulahfitte Krauschwitz GmbH Address: G6rlitzer Strasse l, D02957 Krauschwitz, Germany Tel: +49 35771 54 0 Fax: +49 35771 54 2 20

Profile of the International Valve Industry

Web: ~wv.keulah uettekrauschwitz.d e Valve Products: Butterfly, Check, Control, Gate

Key Port Valve Address: 7693 Manchester Highwa}; Morrison, TN 37357, USA Tel: +1 931 668 5377 Fax: +1 931 668 5378 Web: www.smg-global.com President: Ray Jones Managing Director: Joe Grissom No of Employees: 24 2003 Sales of Valves: US$1.6 million Manufacturing Plant Area: 3900 sq m Parent Company: Southern Manufhcturing Group Inc, USA Valve Products: Plug

Keystone Valve (UK) Ltd Address: Crosby Rd, Market Harborough, Leicestershire LE 16 9EE, UK Tel: +44 1858 467281 Fax: +44 1858 434728 Web: www.tycovalves-eu.com Parent Company: Tyco International, USA Valve Products: Ball, Butterfly, Check, Gate, Globe, Plug, Actuators

Keystone Breda Address: 4824 AB Breda, The Netherlands Tel: +31 76 5 434 100 Fax: +31 76 5 434 399 Web: wxw,v.tycovalves-eu.com Parent Company: Tyco International, USA Valve Products: Butterfly KF Telford Engineered Products Address: 9430 39th Avenue, Edmonton, Alberta T6E 5T3, Canada Tel: +1 780 463 8633 Fax: +1 780 461 1588 Web: www.telford.ca Parent Company: Circor International Inc, USA Valve Products: Check, Gate

10 Directory of Valve Companies

KF Industries Inc Address: 1500 SE 89th St, Oklahoma City, OK 73149, USA Tel: +1 405 631 1533 Fax: +1 405 631 5034 Web: www.kfvalves.com No of Employees: 300+ Quality Assurance Certification: ISO 9001:2000 Certifying Body: Lloyd's Register Parent Company: Circor International Inc, USA Valve Products: Ball, Butterfly, Check, Gate, Globe, Needle, Actuators Kieback & Peter GmbH & Co KG Address: Tempelhofer Weg 50, D12347 Berlin, Germany Tel: +49 30 600 95 0 Fax: +49 30 600 95 164 Web: www.kieback-peter.de Valve Products: Control Kinetrol Ltd Address: Trading Estate, Farnham, Surrey GU9 9NU, UK Tel: +44 1252 733838 Fax: +44 1252 713042 Web: www.kinetrol.com Marketing Manager: R Brigham No of Employees: 150 2003 Sales: s million Valve Products: Actuators Kingdom Precision Casting Co Ltd Address: 14-F, 120 Chung Cheng 1st Rd, Kaohsiung, Taiwan Tel: +886 7 7713121 Fax: +886 7 7235165 Web: www.kicasting.com Factory Locations: Zhongshan City, Guangdong, China; Gutian County, Fujian, China No of Employees: 700+ (Group) Valve Products: Ball, Check, Gate, Globe Kirloskar Brothers Ltd Address: Udyog Bhavan, Tilak Rd, Pune 411 002, India Tel: +91 20 444 4455 Fax: +91 20 444 4198 Web: ww~:kbl.co.in

Chairman & Managing Director: Sanjay Kirloskar Valve Products: Butterfly, Check, Globe Kishigami Valve Co Ltd Address: 4-12 Oihara, Yao-shi, Osaka 581-0092, Japan Tel: +81 729 23 1663 Fax: +81 729 92 1263 President: Yoshihiro Kishigami No of Employees: 70 Valve Products: Check, Gate, Globe Kitamura Valve Mfg Co Ltd Address: 2500 Daimon, Urawashi, Saitama 377-0963, Japan Tel: +81 48 878 1111 Fax: +81 48 878 5289 Web" ~-r162kt m-valve.co.jp Valve Products: Ball, Diaphgram Kitz Corp Address: l- l 0- l Nakase, Mihamaku, Chiba 261-8577, Japan Tel: +81 43 299 1730 Fax: +81 43 299 0121 Web: www.kitz.co.jp Managing Executive Officer: Kimio Kobayashi No of Employees: 1420 Japanese Plants: Nagasaki, Suwa, Ina, Chino Manufhcturing Plant Area: 114 589 sq m Valve Products: Ball, Butterfl); Check, Control, Gate, Globe, Needle, Pressure, Actuators Kitz Corp of Europe SA Address: Ram6n Vifias 8, 08930 Sam Adri~ de Bcs6s, Barcelona, Spain Tel: +34 93 462 1408 Fax: +34 93 462 0980 Web: www.kitzeurope.com Manufacturing Plant Area: 5561 sq m No of Employees: 85 2003 Sales of Valves: US$17.12 million Quality Assurance Certification: ISO 900 l-Bureau Veritas Parent Company: Kitz Corp, Japan Valve Products: Ball

Kitz Corp of Mexico SA de CV Address: Manzana 6, Lotes 1, Parque Industrial del Norte, 88500 Reynosa, Tamps, Mexico Tel: +52 89 29 2100 Fax: +52 89 29 2200 Web: ~vw.kitz.co.jp Parent Company: Kitz Corp, Japan Kitz Corp of Taiwan Address: 5-26 East St, NEPZ, Kaohsiung, Taiwan, ROC Tel: +886 7 362 5593 Fax: +886 7 363 5217 Web: ~s~,w.kitz.co.jp Parent Company: Kitz Corp, Japan Valve Products: Ball Kitz {Thailand) Ltd Address: 426 Moo 17, T Bangsaothong, Subdistrict Bangsaothong, Samutprakarn 10540, Thailand Tel: +66 2 315 31 29 Fax: +66 2 315 3127 Web: www.kitz.co.jp Factory Locations: Bangplee, Amatankorn Manufacturing Plant Area: 17 300 sq m President: Yukio Osada No of Employees: 444 (2001 ) Parent Company: Kitz Corp, Japan Valve Products: Ball, Butterfly

Kitz Corp of California (exQuality Assured Products Inc) Address: 2601 Monarch St, Allamecta, CA 94501, USA Tel: + 1 510 749 3900 Fax: + 1 510 749 3850 Web-www.kitz.co.jp General Manager: Randy Mellinger Parent Company: Kitz Corp, Japan Valve Products: Ball, Check, Control, Diaphragm, Gate, Globe, Actuators Klaus Union GmbH & Co KG Address: PO Box 10 13 49, D44713 Bochum, Germany Tel: +49 234 45 95 0 Fax: +49 234 43 23 87 Web: www.klaus-union.de Managing Director: T Esclmer

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10 Directory of Valve Companies

Production Manager: U Edinger Marketing Manager: F Potrykus No of Employees: 250 2003 Sales of Valves: approx C4 million Manufacturing Plant Area: 20 000 sq m Quality Assurance Certification: DIN EN [SO 9001-2000 PED

97/23/EG Certi~ing Body: TOV Valve Products: Check, Gate, Globe, Relief Klein Address: ZI Chemin de la LiSme, BP 10, 39570 Perrigny, France Tel: +33 3 84 87 22 22 Fax: +33 3 84 24 60 40 Web: www.t3,covaives-eu.com Parent Company: Tyco International, USA Valve Products: Globe, Actuators Klep Valves (Pty) Ltd Address: 17 Resnick St, Factoria, Ka'ugersdorp, South Afi'ica Tel: +27 11 955 4690 Fax: +27 11 955 4697 Web: w~:spirotech.co, za/klep Valve Products: Diaphragm, Gate Klinger GmbH Address: Rich-Klinger-Strasse, D65510 Idstein, Germany Tel: +49 6126 9500 Fax: +49 6126 950341 Web: www.klinger-gmbh.de Managing Director: Reinhard Roedel Marketing Manager: Michael Wfillerich No of Employees: 55 2003 Sales of Valves: US$24 million Quality Assurance Certification: DIN EN ISO 9001:2000 Certifying Body: Bureau Veritas Valve Products: Ball, Conu'ol, Globe, Needle, Plug Klinger Fluid Control GmbH Address: Am Kanal 8-10, A-2352 Gumpoldskirchen, Austria Tel: +43 2252 600 0 Fax: +43 2252 600 8

206

Web: www.klinger.kfi:.at 2002 Sales: C5.8 million Valve Products: Ball, Piston Klinger Danmark AS Address: Postboks 149, Vallensbaekvej 65, DK-2625 Vallensbaek, Denmark Tel: +45 43 64 66 11 Fax: +45 43 64 11 42 Web: www.klinger.dk CEO: Klaus Kaautzen 2002 Sales: DKr51.2 million No of Employees: 31 Valve Products: Ball, Butterfly, Check, Control, Pressure Reliet, Safety, Shut-Off, Actuators Kojima Gokin Co Ltd Address: l-HigashiFudanotsujicho, Higashi-Kijyo, Monami-ku, ~,oto 601-8024, Japan Tel: +81 75 661 0001 Fax: +81 75 661 0003 Valve Products: Ball, Check, Gate, Globe Konan Valve Co Ltd Address: 1-2-36 Ogata, Kashiwarashi, Osaka 582-0018, Japan Tel: +81 729 71 0631 Fax: +81 729 71 0633 Parent Company: Konan Electric Corp Valve Products: Check, Gate, Globe Koso America Inc Address: 4 Manley St, W Bridgewater, MA 02379, USA Tel: +1 508 584 1199 Fax: +1 508 584 2525 Web: ~wv. kosoamerica.com Managing Director: Steve Oliver Production Manager: Don Fisher Marketing Manager: Mark Gallagher No of Employees: 70 2003 Sales of Valves: US$2.3 million Manuthcturing Plant Area: 3291 sq m Quality Assurance Certification: ISO 9001:2000 Certi~'ing Body" American

Profile of the International Valve Industry

Certification Corp Inc Parent Company: Nihon Koso, Japan Valve Products: Control, Globe, Actuators Koyo Co Ltd Address: 1-6-4 Hondori-Nishi, Nishitsutsumi, Higashi-Osaka-shi, Osaka 577-0046, Japan Tel: +81 6 6782 1515 Fax: +81 6 6788 1351 Valve Products: Check, Globe Armatura Krnov Address: Bruntalska 5, 79401 Kznov, Czech Republic Tel: +420 554 620 607 Fax: +420 554 616 861 Web: x~avw.armaturkakrnov.cz Managing Director: Milos Kostolany Production Manager: Milan Sedlacek Marketing Manager: Milos Kostolany Sales Manager: Petr Bolik No of Employees: 52 2003 Sales of Valves: US$3.2 million Manuthcturing Plant Area: 210 000 sq m Quality Assurance Certification: ISO 9001 Certi~ing Body: TOV Parent Company: IBC, Praha Valve Products: Ball, Check, Gate Friedrich Krombach GmbH & Co KG Armaturenwerke Address: Marburger Strasse 364, D-57223 Ka'euztal, Germany Tel: +49 2732 520 00 Fax: +49 2732 520 100 Web: ~.~v.krombach.com No of Employees: 500 2003 Sales: C39 million Valve Products: Ball, Butterfly, Check, Float, Gate, Globe, Safety, Special, Throttle KSB Armaturen GmbH Address: Johann-Klein-Strasse 9, D-67227 Frankenthal, Germany Tel: +49 6233 86 2716 Fax: +49 6233 86 3476

10 Directory of Valve Companies Web: g~,w.ksbgroup.com Managing Director: Klaus Barmann Production Manager: Oliver Schmalz Marketing Manager: Dr Christopher Lange No of Employees: 440 Manufacturing Plant Area: 25 000 sq m Parent Company: KSB AG, Germany Valve Products: Check, Gate, Globe KSB SA Address: ZI de Gagnaire Fons&he, F-24490 La Roche Chalais, France Tel: +33 5 53 92 49 18 Fax: +33 5 53 92 45 80 Web: www.ksbgroup.com Managing Director: Michel Pr6fot Production Manager: Philippe Bdouet Marketing Manager: Dr Christopher Lange No of Employees: 478 Manufacturing Plant Area: 23 000 sq m Parent Company: KSB AG, Germany Valve Products: Butterfly, Check, Actuators Kubota Corp Address: 1-1-1 Nakamiya, Oike, Hirakata, Osaka 573-8573, Japan Tel: +81 72 840 1292 Fax: +81 72 840 1290 Web: www.kubota.co.jp/valve Valve Products: Ball, Butterfly, Check, Control, Gate Kiihme Armaturen GmbH Address: Am Vorort 14, D-44894 Bochum, Germany Tel: +49 234 298 02 0 Fax: +49 234 298 02 10 Web: www.kuehme.de Managing Director: Klaus Reusch Production Manager: M Bramenkamp Marketing Manager: Uwe Krabbe No of Employees: 77 2003 Sales of Valves: s million

Manufacturing Plant Area: 3350 sq m Valve Products: Gate, Butterfly, Control, Quick Closing Kumkang Valve Mfg Co Ltd Address: 209-10, Jang-Dong, Dalseo-Gu, Daegu City 704-190, South Korea Tel: +82 53 581 4500 Fax: +82 53 581 4505 Web: www.kuka.co.kr Valve Products: Ball Kunkle Valve Address: 1281 Old US 70, Black Mountain, NC 28711, USA Tel: + 1 828 669 3700 Fax: +1 828 669 0586 Web: wx~avw,kunklevalve.com Parent Company: Tyco International, USA Valve Products: Pressure Relief, Safety Kurimoto Ltd Address: 1-9 Shimbashi 4-Chome, Minato-Ku, Tokyo 104-0005, Japan Tel: +81 3 3436 8191 Fax: +81 3 3436 8026 Web: www.kurimoto.co.jp Managing Director: Yasuo Kawabata Production Manager: Ikuhei Otani Marketing Manager: Kenji Nakayama No of Employees: 1761 2003 Valve Sales: US$100 million Quality Assurance Certification: ISO 9001, ISO 14001 Valve Products: Butterfly, Check, Control, Gate KVC Co Ltd Address: 208-153, Nagahara-Cho, Sakaimachi Ayanokoji, Shimogoyo-ku, Kyoto 600-8073, Japan Tel: +81 75 361 3361 Fax: +81 75 371 9341 Web: www.kvokyoto.co.jp Valve Products: Ball, Butterfly, Check, Gate, Globe

Kyoei Valve Industry Co Ltd Address: 19- l I Minami-machi, Kaizuka-shi, Osaka 597-0005, Japan Tel: +81 724 31 1441 Fax: +81 724 31 1445 Web: www.kansei.ne.jp/kyoei President: Reio Hamaguchi Additional Factory: 11-6, 6chome, Kamihigashi, hirano-ku, Osaka City (Tel: +81 6 6792 3063) Valve Products: Ball, Butterfly, Check, Gate, Globe La TecnoValvo srl Address: Viale Lombardia 10, 20021 Bollate (MI), Italy Tel: +39 02 3503508 Fax: +39 02 3503494 Web: w~vw.latecnovalvo.com No of Employees: 28 2002 Sales: ~1.9 million Valve Products: Bottom, Check, Floating, Gate, Globe, Sampling LA TIS Service Srl Address: Via Vezza 6, 24050 Calcinate (BG), Italy Tel: +39 035 842447 Fax: +39 035 4423050 Web: x~w~:latis-service.com No of Employees: 17 2002 Sales: ~7.7 million Vah,e Products: Butterfly, Check, Control, Gate, Actuators

Landis & Staefa GmbH Address: Friesstrasse 20-24, D60388 Frankfurt, Germany Tel: +49 69 40 02 0 Fax: +49 69 40 02 15 90 Web: www.landisstacfa.dc Valve Products: Butterfly, Control, Globe, Safety, Actuators Larox Flowsys Oy Address: PO Box 338, FI-53101 Lappeenranta, Finland Tel: +358 201 113 311 Fax: +358 201 113 300 Web: wxw~:larox.fi Managing Director: Jukka Aaltonen Marketing Manager: M Romanainen

Profile of the International Valve Industry "207

10 Directory of Valve Companies

No of Employees: 40 Sales: El0 million Quality Assurance Certification: ISO 9001 Certifying Body: SFS-Certification Valve Products: Pinch Laun GmbH Maschinen- und Apparatebau Address: Waldstrasse 71, D-6545 l Kelsterbach, Germany Tel: +49 6107 986 69 0 Fax: +49 6107 986 69 20 Web: v,a~w.laun-online.com Valve Products: Butterfly, Gate LCM Italia srl Address: Via Cappuccini 40/D, 21013 Gallarate, Italy Tel: +39 0331 776256 Fax: +39 0331 794295 Web: x~-a,~:cheropiping.com No of Employees: 49 2002 Sales: E9.1 million Parent Company: Chero Piping SpA (I taly) Valve Products: Ball LDM spol Sro Address: Litomyglskfi 1378,560 02 Ceska T~ebov~, Czech Republic Tel: +420 465 502 511 Fax: +420 465 533 101 Web: www.ldm.cz Valve Products: Control, Shut-Off Leslie Controls Inc Address: 12501 Telecom Drive, Tampa, FL 33637, USA Tel: +1 813 978 1000 Fax: + 1 813 978 0984 Web: www.lesliecontrols.com Parent Company: Circor International Inc, USA Valve Products: Butterfly, Control, Actuators Leser GmbH & Co KG Address: Wendenstrasse 133-135, D-20537 Hamburg, Germany Tel: +49 40 25 165 100 Fax: +49 40 25 165 500 Web: www.leser.com Managing Directors" Joachim Klaus & Martin Leser No of Employees: 285

208

2003 Sales of Valves: US$36 million Manuf~acturing Plant Area: 10 700 sq m Quality Assurance Certification: DIN EN ISO 9001:2000 & ISO 14001:2000 Certif~,ing Body: TUV Valve Products: Change-Over, Pressure, Pressure Reducing, Safety

Limitorque Corp Address: 5114 Woodall Rd, Lynchburg, VA 24506-1318, USA Tel: +1 434 528 4400 Fax: +1 434 845 9736 Web: www.limitorque.com Parent Company: Flowserve Corp, USA Valve Products: Actuators

Linatex Africa (Pty) Ltd Address: 5 Fuchs St, Alrode 1450, South Afi'ica Tel: +27 11 864 2744 Fax: +27 11 908 2130 Valve Products: Ball, Check, Gate, Pinch Linde AG, MAPAG Works Address: Von-HolzapfeI-Strasse 4, D-86497 Horgau, Germany Tel: +49 8294 86 95 0 Fax: +49 8294 86 95 80 Web: www.mapag.de Managing Director: RalfSobig Production Manager: Manfi'ed Pammer Marketing Manager: M Gerceker No of Employees: 68 Manuf~acturing Plant Area: 32 300 sq m Quality Assurance Certification: ISO 9001 Valve Products: Butterfly, Check, Control, Actuators Lorch Logistik GmbH Address: Bahnhof~trasse 22, D71111 Waldenbuch, Germany Tel: +49 7157 99 0 Fax: +49 7157 99 4 34 Web: ~ v . l o r c h . d e Valve Products: Control, Safety

Profile of the International Valve Industry

E Georg LOdecke Armaturen GmbH Address: Heinrich-Hauck-Strasse 2, D-92224 Amberg, Germany Tel: +49 9621 76 82 0 Fax: +49 9621 76 82 99 Web: w~av.luedecke.de No of Employees: 52 2003 Sales: El0 million Valve Products: Ball, Check, Plug LVF SpA Address: Via G Mazzini 6, 24060 San Paolo d'Argon (Bergamo), Italy Tel: +39 035 4255 211 Fax: +39 035 959 210 Web: w~v.lvf.it No of Employees: 131 2002 Sales: E22.7 million Manufb.cturing Plant Area: 163 000 sq ft Valve Products: Check, Gate, Globe M&S Armaturen GmbH Address: Industriestrasse 24-26, D-26446 Friedeburg, Germany Tel: +49 4465 807 0 Fax: +49 4465 807 40 Web: ~-,v. ms-armaturen.de No of Employees: 220 2002 Sales: E20 million Valve Products: Butterfly Maezawa Industries Inc Address: 7-2 2 Yaesu, Chuo-ku, Tokyo 104 8351, Japan q~l: +81 3 3281 5521 Fax: +81 3 3274 4157 Web: ~ ~ , . maezawa.co.jp Valve Products: Butterfly, Check, Control, Gate Mallard Control Co Inc Address: 4970 Washington Boulevard, Beaumont, TX 77707, USA Tel: +1 409 842 5392 Fax: + 1 409 842 8165 Web: x~v.mallardcontrol.com Sales: US$12 million (2003) Parent Company: Circor International Inc, USA Valve Products: Control, Check, Dump, Pressure Relief

I0

Gustav Mankenberg Armaturenfabrik GmbH Address: Spenglerstrasse 99, D23556 Liibeck, Germany Tel: +49 451 8 79 75 0 Fax: +49 451 8 79 75 99 Web: www.mankenberg.de No of Employees: 110 Valve Products: Level Control, Pressure Control

Maran E Peracini Srl Address: Via Valduggia 25, 1301 l Borgosesia (VC), Italy Tel: +39 0163 26757 Fax: +39 0163 22464 Web" www.maranperacini.com No of Employees: 24 2000 Sales: (~4.4 million Valve Products: Air Relief, Check, Gate Mars Valve Co Ltd Address: 7F-6, No 200, Sec 4, Wen-Shin Rd, Taichung, Taiwan Tel: +886 4 2297 3808 Fax: +886 4 2297 3608 Web: www.marsvalve.com.tw Valve Products: Ball, Check, Gate, Globe, Needle, Actuators

Maruman Industry Co Ltd Address: 3-4- 57 Tagawa-kita, Yodogawa-ku, Osaka 532-0021, lapan Tel: +81 6 6886 0870 Fax: +81 6 6886 0878 President: Akinori Kotani Valve Products: Ball, Butterfly, Check, Gate Marwin Valve Division of Richards Industries Address: 3170 Wasson Rd, Cincinnati, OH 45209, USA Tel: +1 513 533 5600 Fax: + 1 513 533 7343 Web: www.marwinvalve.com Managing Director: J Anthony George Production Manager: Douglas Parham Marketing Manager: Kevin Kahn No of Employees: 120 2003 Sales of Valves: US$22 million

Manufacturing Plant Area: 22 500 sq m Quality Assurance Certification: ISO 9001:2000 Certifying Body: ABS Parent Company: Richards Industries, USA Valve Products: Ball, Control, Actuators Mastergear Address: 5466 East Rockton Rd, South Beloit, IL 61080, USA Tel: + 1 815 389 4004 Fax: + 1 815 389 8383 Web: www.mastergearworldwide.com General Manager: Jim Packard Marketing Manager: William Wells No of Employees: 75 Manut~zcturing Plant Area: 50 000 sq m Parent Company: Regal-Beloit Corp Valve Products: Actuators Matsuo Valve Industry Co Ltd Address: 245 Tomachi, Hikoneshi, Shiga 522-0009, Japan Tel: +81 749 22 1564 Fax: +81 749 24 5846 President: Jintaro Matsuo Valve Products: Ball, Gate, Globe

Maxon Corp Address: 201 East 18th St, Muncie, IN 47302, USA Tel: +1 765 284 3304 Fax: + 1 765 286 8394 Web: www.maxoncorp.com Valve Products: Control, Safi:ty Maxon International Address: Luchthavenlaan 16, 1800 Vilvoorde, Belgium Tel: +32 2 255 09 09 Fax: +32 2 251 42 81 Web: www.maxon-europe.com Managing Director: U Conen Production Manager: L Coen Marketing Manager: Bart Geyskens No of Employees: 150 in Europe, 400 Worldwide Manufacturing Plant Area: 70 000 sq m

Directory of Valve Companies

Quality Assurance Certification: ISO 9001 Certifying Body: ITS Parent Company: Maxon Corp Valve Products: Butterfly, Control, Gate, Plug, Pressure, Actuators MCF Valves Address: 3409 Brinkman St, Houston, TX 77018, USA Tel: +1 713 869 3100 Fax: + 1 713 869 5511 President: John De Penne Rouge Parent Company: Tyco International, USA Valve Products: Ball, Control, Actuators Meeafrance (Deutschland) GmbH Address: K6rnerstrasse 22, D53175 Bonn, Germany Tel: +49 228 9 35 50 0 Fax: +49 228 9 35 50 6 Web: www.mecafrance.de Parent Company: Tyco Flow Control Vah,e Products: Ball, Actuators Mecafrance SA Address: 4 rue des Oziers, Pare d'Activit6s du Vert Galant, 95310 Saint-Ouen L'Aumbne, France Tel: +33 1 39 09 38 80 Fax: +33 1 39 09 38 88 Web: www.mecaf?ance-sa.fr Parent Company: Tyco Flow Control Valve Products: Ball, Solenoid Meca-lnox 1 rue Jean-Pierre Timbaud, 95101 Argenteuil Cedex, France Tel: +33 1 30 25 79 80 Fax: +33 1 30 25 79 81 Web: www'meca'in~176 Managing Director: Huguos Beurel Production Manager: Michel Culembourg Marketing Manager: Jean Devanssay No of Employees: 110 Quality Assurance Certification: ISO 9001 Certifying Body: Lloyd's Register

Profile of the International Valve Industry 209

10 Directory of Valve Companies

Parent Company: SGD Valve Products: Ball, Check, Sampling

Web: ~av~: metrexvalve.com No of Employees: 30 Valve Products: Safi:ty

MEI Valvole Industriali srl Address: Via Stipeti, 55060 Coselli Lucca, Italy Tel: +39 0583 403265 Fax: +39 0583 403138 Web: www.meivalvole.com General Manager: Lorenzo Mei Technical Manager: Massimo Panattoni No of Employees: 19 2002 Sales: E2.5 million Valve Products: Ball, Butterfly, Check, Damper

Metso Automation Address: PO Box 310, 00811 Helsinki, Finland Tel: +358 20 483 150 Fax: +358 20 483 151 Web: www.metsoautomation.com Manuthcturing Plant Area: 388 500 sq ft Valve Products: Ball, Butterfly, Control, Globe, Plug, Actuators

Mercer Valve Co Inc Address: 9609 NW 4th, Oklahoma City, OK 73127, USA Tel: +1 405 495 6533 Fax: +1 405 495 8728 Web: ~-,v.mercervalve.net Managing Director: Dick Taylor Production Manager: Tom Smith Marketing Manager: Kirk Taylor Quality Assurance Certification: ASME Sec VIII 1 Certi~ing Body: ASME Valve Products: Safety Relief JG Merckens Mess- und Regelsysteme GmbH & Co KG Address: Zieglerstrasse l 0-16, D52078 Aachen, Germany Tel: +49 241 56 87 O Fax: +49 241 56 87 3 O0

Mesura SA Address: 12a rue des Moulins, BP 102, 57602 Forbach Cedex, France Tel: +33 3 87 85 46 97 Fax: +33 3 87 87 03 62 No of Employees: 76 2002 Sales: E11 million Valve Products: Pressure Reducing Metrex Valve Corp Address: 505 South Vermont Avenue, Glendora, CA 9174 l, USA Tel: +1 800 266 4027 Fax: + 1 626 335 1514

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Metso Automation Inc (exNeles Jamesbury) Address: 44 Bowditch Drive, Shrewsbury, MA 01545, USA Tel: +1 508 852 0200 Fax: + 1 508 852 8172 Web: w~v. metsoautomation.com President: David Johnson Manufacturing Plant Area: 250 000 sq ft Parent Company: Metso Corp, Finland Valve Products: Ball, Butterfly, Control, Actuators Metso Automation sas Address: 6/8 rue du Maine, F68271 Wittenheim, France Tel: +33 3 89 50 64 00 Fax: +33 3 89 50 64 40 Web: ~v.metsoautomation.com Manufacturing Plant Area: 43 400 sq ft Parent Company: Metso Corp, Finland Valve Products: Ball, Butterfly, Control, Plug, Safety

Metso Automation (Shanghai) Co Ltd Address: Section A, 168 Fute Rd (East No 1), Shanghai Waigaoqiao Trade Zone, 200131 Shanghai, China Tel: +86 21 5866 8383 Fax: +86 21 5866 0222 Web: ~vw.metsoautomation.com Valve Products: Ball, Butterfly, Control, Plug, Safety

Profile of the International Valve Industry

MG Process Valves SA Address: Savoie Hexap61e, 73420 Mery, France Tel: +33 4 79 35 78 00 Fax: +33 4 79 35 78 20 Web: www.mg-valves.com No of Employees: 43 2003 Sales: E6.3 million Valve Products: Bali, Butterfly, Gate, Piston, Polymer, Sampling, Spray & Rinse, Tank Bottom

Microleghe Trentine SpA Address: Via del Brennero 19, 36068 Rovereto (TN), Italy Tel: +39 0464 438843 Fax: +39 0464 432244 Mihana Seisakusho Co Ltd Address: 4270-8 Kokubu Higanjyo-cho, Kashiwara City, Osaka 582-0023, Japan Tel: +81 729 76 0387 Fax: +81 729 76 0386 Web: ~w.mihana-v.co.jp Valve Products: Safi~ty Milliken Valve Company Inc Address: 1195 Highland Avenue, Suite 500, Bethlehem, PA 180209081, USA Tel: + 1 610 861 8803 Fax: +1 610 861 8094 President: Robert Jackson Valve Products: Butterfly, Check, Plug Milwaukee Valve Address: 2375 South Burrell St, Milwaukee, WI 53207-1519, USA Tel: +1 414 744 5240 Fax: +1 414 744 5840 Web: www.milwaukeevalve.com Marketing Manager: Tom Laguardia No of Employees: 600 Valve Products: Ball, Butterfly, Check, Gate, Globe, Actuators Mine-Line (Pty) Ltd Address: 30 Van Eck St, Chamdor, Krugersdorp, South Afi'ica Tel: +27 11 762 1353 Fax: +27 11 762 7791 Web" w~v.x~v.mi neline.co, za

10 Directory of Valve Companies

Valve Products: Butterfly, Check, Gate Mitech Address: 7 Industrial St, Kyasand, South Africa Tel: +27 11 462 2160 Fax: +27 11 462 2616 Web: www.mitech.co.za No of Employees: 70 Valve Products: Control, Globe, Actuators Mitsumoto Valve Mfg Co Ltd Address: 3-3-5 Domyoji, Fujiderashi, Osaka 5830012, Japan Tel: +81 729 55 1781 Fax: +81 729 52 2650 Marketing Manager: H Miwa No of Employees: 75 Manufacturing Plant Area: 20 000 sq m Valve Products: Check, Gate, Globe, Needle, Pressure MIVAL srl Address: Via Montecastello 53, 13030 Bornate Sesia (VC), Italy Tel; +39 0163 452600 Fax: +39 0163 452650 Web: wavw.mival.it Managing Director: R Rossi Production Manager: A Rossi Marketing Manager: S Rossi No of Employees: 25 Manufacturing Plant Area: 8000 sq m Valve Products: Bellows, Check, Globe

Web" w ~ . miyairicorp.co.jp Managing Director: Kenji Miyairi Production Manager: Osamu Nagatuka Marketing Manager: Shigemi Miyairi No of Employees: 230 2003 Sales of Valves: US$27.8 million Parent Company: Miyairi Corp Valve Products: Ball, Check, Control, Gate, Globe, Pressure, Actuators Miyawaki Inc Address: 2-1-30 Tagawa-kita, Yodagawa-ku, Osaka 532-0021, Japan Tel: +81 6 6302 5549 Fax: +81 6 6302 5595 Web: ~wv. miyawaki,net President: Tetsuo Kanbe Valve Products: Check Miyoshi Valves Co Ltd Address: Iwamotocho Nikko Kyodo Building, 3-9-13 Iwamotocho, Chiyoda-ku, Tokyo 101-0032, Japan Tel: +81 3 5833 5432 Fax: +81 3 5833 5433 President: Hiroshi Naito Valve Products: Ball, Butterfly, Check, Gate, Globe, Safety

Miyabe Iron Works Co Ltd Address: 1131 HigashiNonamicho, Hikone-shi, Shiga 522 0027, Japan Tel: +81 749 22 2001 Fax: +81 749 23 1757 Web" www.miyabe-v.co.jp President: Fujio Nagano Valve Products: Ball, Butterfly, Check, Gate

Mogas Industries Inc Address: 14330 E Hardy St, Houston, TX 77039, USA Tel: + 1 281 449 0291 Fax: + 1 281 590 3412 Web: www.mogas.com Chairman & CEO: V Louis Mogas Marketing Director: Sarah A Davis No of Employees: 88 Worldwide, 84 at Corp HQ Manufacturing Plant Area: 50 000 sq ft Quality Assurance Certification: SIL ASME MSS-SP 61 Valve Products: Ball

Miyairi Seisakusho Co Ltd Address: 5-9-50 Tokura, Mishimashi, Shizuoka 411-0044, Japan Tel: +81 559 86 7123 Fax: +81 559 87 7708

Ludwig Mohren KG Armaturenfabrik & Metallgiess Address: Weststrasse 30-34, D52074 Aachen, Germany Tel: +49 241 88 77 0

Fax: +49 241 88 77 11 Web: www.ludwigmohren.de No of Employees: 44 2003 Sales: ~3.7 million Valve Products: Ball, Gate, Globe, Plug Mokveld Valves BV Address: PO Box 227, Nijverheidsstraat 67, 2800 AE Gouda, The Netherlands Tel: +31 182 597 500 Fax: +31 182 517 977 Web: www.mokveld.nl Valve Products: Check, Control, Safety, Actuators Morita Iron Works Co Ltd Address: 2100-33, Kami-Yoshiba, Satte-shi, Saitama 340-0121, Japan Tel: +81 480 48 0891 Fax: +81 480 48 0816 President: Masaaki Morita Valve Products: Butterfly, Check, Control, Gate Mostro as Address: Komo~ansk~ 1900/63, 143 14, Praha 4 - Modt,any, Czech Republic Tel: +420 261 312 320 Fax: +420 261 312 333 Web: www.mostro.cz Managing Director: Petr Gregor Production Manager: Miloslav Suk Marketing Manager: Van Tomanek No of Employees: 172 2003 Sales of Valves: US$13.8 million Manufacturing Plant Area: 10 000 sq m Valve Products: Check, Gate, Globe

Motoyama Eng Works Ltd Address: 1- 1-2 Tsutsumimachi, Aoba-ku, Sendal 981-0912, Japan Tel: +81 22 344 4511 Fax: +81 22 344 4522 Web: www.motoyama-cp.co.jp Valve Products: Control, Safety MSA as Address: Hlut~insk~ 41,747 22 Dolni Bene.~ov, Czech Republic Tel: +420 653 881 111 Fax: +420 653 651236

Profile of the International Valve Industry 211

10 Directory of Valve Companies

Web: x~v.msa.cz CEO: Karel Ren Sales Director: Martin Vobr 2003 Sales: Czkl 114 million Valve Products: Ball, Check, Gate, Globe Mueller Steam Specialty Address: 1491 NC Highway 20 West, St Pauls, NC 28384, USA Tel: + 1 910 865 8241 Fax: +1 910 865 3179 Web: ~~.muellersteam.com VP Sales & Marketing: Richard Smith Parent Company: SPX Corp, USA Valve Products: Butterfly, Check, Plug AuK M(iller GmbH & Co KG Address: Dresdener Strasse 162, D-40595 Dfisseldorf, Germany Tel: +49 211 73 91 0 Fax: +49 211 73 91 2 81 Web: w~-w.akmueller.de Valve Products: Control NAF AB Address: Gelbgjutaregatan 2, SE581 87 Link/~ping, Sweden Tel: +46 13 31 61 00 Fax: +46 13 13 60 54 Web: ,~aw~:naf.se No of Employees: 80 Managing Director: Per Lundqvist Production Manager: Peter Johnsson Marketing Manager: Anders Martinsson 2003 Sales of Valves: US$26 million Manufacturing Plant Area: 6500 sq m Quality Assurance Certification: SS-EN ISO 9001:2000 Certifying Body: DNV Certification AB Parent Company: Flowserve Corp, USA Valve Products: Ball, Butterfly, Check, Control, Actuators Nakajima Valve Mfg Co Ltd Address: 885 Tsuzuramachi, Hikone-shi, Shiga 522-0212, Japan

212

Tel: +81 749 25 1131 Fax: +81 749 25 1878 President: Shozo Kitamura Valve Products: Check, Gate, Globe Nakakin Co Ltd Address: 3-4-18 Kikawa-Higashi, Yodogawa-ku, Osaka 532-0012, Japan Tel: +81 6 6303 5151 Fax: +81 6 6303 5154 Web: ~vw.nakakin.co.jp President: Michitoshi Enomoto Factory Location: 1-14-16 Niitaka, Yodogawa-ku, Osaka, Japan (Tel: +81 6 6391 6061) Valve Products: Check, Gate, Globe, Solenoid Nakakita Seisakusho Co Ltd Address: 1-1 FukonoMinamimachi, Daito-shi, Osaka 574-8691, Japan Tel: +81 720 71 1331 Fax: +81 720 74 7501 Web: wx~v.nakakita-s.co.jp President: Osamu Nakakita No of Employees: 586 2003 Sales: u billion Valve Products: Butterfly, Conu'ol, Gate, Globe, Safety, Solenoid, Actuators Nakamura Valve Mfg Co Ltd Address: 3946 Horinouchi, Horinouchi-machi, Kita-Uonumagun, Niigata 949-7413, Japan Tel: +81 2579 4 2132 Fax: +81 2579 4 3095 President: Takenobu Nakamura No of Employees: 58 2002 Sales: u million Valve Products: Ball, Butterfly, Check, Gate, Globe Nakayama Steel Works Ltd Address: l- 1-66 Funamachi, Taisho-ku, Osaka 551-0022, Japan Tel: +81 6 6555 3111 Fax: +81 6 6555 3170 President: Masahisa Kosaki Valve Products: Butterfly, Check, Gate

Profile of the International Valve Industry

Naval Oy Address: PO Box 32, FIN-23801 Laitila, Finland Tel: +358 2 85091 Fax: +358 2 856506 Marketing Director: Karhum~iki Pekka No of Employees: 100 Parent Company: Flowserve Corp, USA Valve Products: Ball Nencini SpA Address: Localit~ Belvedere, 53034 Colle Val d'Elsa (SI), Italy Tel: +39 0577 930880 Fax: +39 0577 930883 Web: ~s~w.nencini.com Managing Director: Ing Bellezza No of Employees: 20 Sales of Valves: E2.6 million (2002) Valve Products: Butterfly, Check, Control, Gate, Globe, Needle Neotecha AG Address: Etzelstr 37-39, CH-8634 Hombrechtikon, Switzerland Tel: +41 55 254 4141 Fax: +41 55 254 4100 Web: www.tycovalves.com Manufhcturing Plant Area: 5400 sq m Quality Assurance Certification: ISO 9001-2000 CertiFying Body: Lloyd's Register, Dekra Parent Company: Tyco International, USA Valve Products: Ball, Butterfly, Check, Sampling Neumo GmbH + Co KG Address: Henry_Ehrenberg_ Platz, D-75438 Kalittlingen, Germany Tel: +49 7043 36 0 Fax: +49 7043 36 130 Web: ~ v . n e u m o . d e No of Employees: 160 2002 Sales: E24.5 million Parent Company: Neumo Ehrenberg Group Valve Products: Aseptic Sampling, Butterfly, Single Seat

10 Directory of Valve Companies Neway Valve (Suzhou) Co Ltd Address: No 158-120 Huasian Rd, Suzhou 215008, China Tel: +86 512 6665 1365 Fax: +86 512 6665 1360 Web: g~ccw.newayvalve.com Managing Director: David Wang Production Manager: Guoxin Guo Marketing Manager:Mike Yao No of Employees: 550 2003 Sales of Valves: US$38 million Valve Products: Ball, Butterfly, Check, Cryogenic, Gate, Globe, Plug, Pressure Seal Nibco Inc Address: 1516 Middlebury St, Elkhart, IN 46515-1167, USA Tel: + 1 574 295 3221 Fax: +1 574 523 3632 Web: www.nibco.com Chairman, President & CEO: Rex Martin Senior Vice President, General Manager: James Drexinger No of Employees: 3000 Sales of Valves: US$440 million Valve Products: Ball, Butterfly, Check, Gate, Globe, Actuators Nicholson Steam Trap Address: 150 Coldenham Rd, Waldem NY 12586, USA Tel: +1 845 778 5566 Fax: +1 845 778 7123 Web: www.n icholsonsteam trap. corn Managing Director: Tom Popeck Marketing Manager: Joe Carlone No of Employees: 150 Quality Assurance Certification: ISO 9001 Certifying Body: ABS Parent Company: Circor International Inc, USA Valve Products: Ball, Butterfly, Check, Safi~ty Release Nickopolsky Valve Plant JSC Address: 300 Electrometalurgov Str, Nickopol, Dnepropetrovsky Region 53221, Ukraine Tel: +380 5662 10758 Fax: +380 5662 10413/ 10252

Web: www.nzta.nikopol.net Valve Products: Check, Gate

Nicolini Claudio srl Address: Via C Treves 68, 20090 Trezzano (MI), Italy Tel: +39 02 484 007 22 Fax: +39 02 484 007 26 Managing Director: Claudio Badocchi Production Manager: Paolo Badocchi Marketing Manager: Andrea Badocchi No of Employees: 30 2003 Sales of Valves: US$5.3 million Manufacturing Plant Area: 4000 sq m Quality Assurance Certification: ISO 9001:2000 Certifying Body: RWTUF Valve Products: Control, Diverter, Globe, Special, Tank Bottom Niezgodka GmbH Address: Bargkoppehveg 73, D22145 Hamburg, Germany Tel: +49 40 6794 69 0 Fax: +49 40 6794 69 59 Web: wwx~:niezgodka.de No of Employees: 30 2002 Sales: (~3.45 million Valve Products: Control Nihon Klingage Co Ltd Address: l- 14-5 Ginza, Chuo-ku, Tokyo 104-0061, Japan Tel: +81 3 3567 7002 Fax: +81 3 3535 3712 Web: www.klingage.co.jp President: Masaki Toya Factory Location: 1-7-3 Aoyagi, Soka-shi, Saitama 340-0002, Japan Valve Products: Globe Nihon Koso Co Ltd Address: Nihombashi Building, 1 16-7 Nihombashi Chuo-ku, Tokyo 103-0027, Japan Tel: +81 3 5202 4300 Fax: +81 3 5202 4301 Web" ~s,w.koso.co.jp President: Takashi Ikegaya Valve Factories: 28-1 Minamicho Sasame, Toda City, Saitama 335-

0035, Japan (Tel: +81 48 421 5111 ); 129 Kawamushinai Ookubo Ooaza Iwasemura Iwasegun, Fukushima 962-0300, Japan (Tel: +81 248 65 3121 ) Valve Products: Ball, Butterfly, Control, Gate, Actuators

Niigata Masoneilan Co Ltd Address: Marive East Tower WBG, 2-6 Nakase, Mihama-ku, Chiba 261-7120, Japan Tel: +81 43 297 9211 Fax: +81 43 299 1115 Web: www.nimcojapan.co.jp President: Sadao Suzuki Factory Location: 800 Toukaichi, Kariwa-mura, Kariwa-gun, Niigateken 945-0395, Japan (Tel: +81 257 45 2222) Valve Products: Control Nil-Cor Address: 12241 Rockhill Ave NE, Alliance, OH 44601, USA Tel: + 1 330 823 0500 Fax: +1 330 821 6722 Web: ~vw.nilcor.com Managing Director: W Simendinger Production Manager: Mr Toalston Marketing Manager: W Simendinger No of"Employees: 25 2003 Sales of Valves: US$4.0 million Manufacturing Plant Area: 6000 sq m Quality Assurance Certification: ISO 9001:2000 Certifying Body: Smithers QA Parent Company: Dresser Inc, USA Valve Products: Advanced Composite, Ball, Butterfly, Check Nippon Ball Valve Co Ltd Address: 5-650 OhtoriMinamimachi, Sakai-shi, Osaka 593-8325, Japan Tel: +81 722 71 8421 Fax: +81 722 73 3462 Web: www.nbv.co.jp No of Employees: 52 2003 Sales: u million Valve Products: Ball, Butterfly, Control, Diaphragm

Profile ofthe International Valve Industry

213

10 Directory of Valve Companies

Nippon Daiya Valve Co Ltd Address: 1-3-22 Hiromachi, Shinagawa-ku, Tokyo 140-0005, Japan Tel: +81 3 3490 4801 Fax: +81 3 3490 79506 Web: w~av.ndv.co.jp President: Youichi Ishida No of Employees: 182 2003 Sales: 3376 million Valve Products: Ball, Butterfly, Control, Diaphragm Nippon Fisher Co Ltd Address: Shinagawa NF Building, 1-2-5 Higashi-Shinagawa, Shinagawa-ku, Tokyo 140-0002, Japan Tel: +81 3 5769 6900 Fax: +81 3 5769 6901 Web: w~av.emersonprocess.com President: Koichi Mizushima Parent Company: Emerson Electric Co, USA Valve Products: Control Nippon Valve Co Ltd Address: 3046 Sasaga, Matsumoto-shi, Nagano 3998750, Japan Tel: +81 263 58 2705 Fax: +81 263 85 1090 Valve Products: Ball, Check, Gate Nippon Valqua Industries Lid Address: Shinjuka-Mitsui Building, 2-1-1 Nishi-Shinjuku, Shinjukuku, Tokyo 163-0406, Japan Tel: +81 3 5325 3421 Fax: +81 3 5325 3436 Web: w~'.valqua.co.jp President: Toshikazu Takisawa Valve Products: Ball, Check, Control Norske Ventiler AS Address: PB l 15, 5346 Agotnes, Norway Tel: +47 563 15450 Fax: +47 563 15451 Web: ~'w.norskeventiler.no No of Employees: 18 2002 Sales: NKrl8.3 million Valve Products: Ball, Check, Gate, Globe, Needle

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Northvale Korting Ltd Address: Melton Rd, Leicester LE4 7ST, UK Tel: +44 116 2665911 Fax: +44 116 2610050 Web: ~ ~ , . nothvalekor ti ng.co.u k Valve Products: Check, Control Noval Industriearmaturen GmbH Address: Porsestrasse 19, D-39104 Magdeburg, Germany Tel: +49 391 405 55 0 Fax: +49 391 405 55 49 Web: www.noval.de Valve Products: Ball, Bottom Drain, Butterfly, Check, Gate, Needle, Sampling Novasfer Srl Address: Via G Marconi I2/A-BC, 25080 Calvagese D/Riviera (BS), Italy Tel: +39 030 6809011 Fax: +39 030 6800172 Web: x~a~v.novasfer.it No of Employees: 40 2002 Sales: E9.9 million Valve Products: Ball, Check, Control, Gate Nu-Torque Inc Address: 9825 Willows Rd, Suite 160, Redmond, WA 98052, USA Tel: +1 425 885 1920 Fax: +1 425 881 2957 Web: www.nu-torque.com President: Gordon Shatstko Production Manager: Thomas DePiero Marketing Manager: R James Porras No of Employees: 20 Valve Products: Actuators Oceaneering Rotators Address: Hagen 20, N4645 Nodeland, Norway Tel: +47 3818 5500 Fax: +47 38 18 2152 Web: www.rotator.no Managing Director: Paul A Frikstad Production Manager: Ole Jorgen Bakkevold No of Employees: 100

Profile of the International Valve Industry

2003 Sales of Valves: US$12.5 million Manufacturing Plant Area: 8500 sq m Quality Assurance Certification: NS-EN 9001:2000 Parent Company: Oceaneering lnc Valve Products: Control, Actuators

OCV Control Valves Address: 7400 East 42nd Place, Tulsa, OK 74145-4744, USA Tel: +1 918 627 1942 Fax: +1 918 622 8916 Web: ww~:controlvalves.com Manuf~acturing Plant Area: 50 000+ sq ft Valve Products: Control OHL Gutermuth Industriearmaturen GmbH Address: Helmesh~iuser Str 9, D63674 Altenstadt, Germany Tel: +49 6047 80 06 20 Fax: +49 6047 80 06 29 Web: ~avw.ohl-guterm uth.de Managing Director: Wolf~;ang Roehrig No of Employees: 70 2003 Sales of Valves: US$6.5 million Manut~cturing Plant Area: 5500 sq m Quality Assurance Certification: ISO 9001:2000 PED Certil~,ing Body: TOV Valve Products: Butterfly, Control, Hot Gas Mixing, Reactor Switching Ohno Bellows Industry Co Ltd Address: 2-15-17 Yaguchi, Ota-ku, Tokyo 146-0093, Japan Tel: +81 3 3759 6671 Fax: +81 3758 7551 President: Yasumasa Hoshino Valve Products: Check, Control, Diaphragm, Globe

Ohtori Mfg Co Ltd Address: 1601 T~176176176 Hikone-shi, Shiga 522-0004, Japan Tel: +81 749 23 6101 Fax: +81 749 23 6142 President: Hiroshi Ohsuga

10 Directory of Valve Companies

Valve Products: Check, Gate, Globe OIC Address: 7021 Portwest Drive #100, Houston, TX 77024, USA Tel: + 1 713 869 0794 Fax: + 1 713 869 7856 Web: www.oicvalve.com VP Sales: Michael Wiggins Parent Company: Precision Castparts Corp, USA Oka Valve Seizo Co Ltd Address: 1-8-23 Ojima, Koto-ku, Tokyo 136-0072, Japan Tel: +81 3 3682 7251 Fax: +81 3 3684 6931 President: Naoto Okayasu Valve Products: Ball, Check, Control, Gate, Globe Okano Valve Mfg Co Address: l- 14 Nakamachi, Mojiku, Kitakyushu 800-8601, Japan Tel: +81 93 372 1131 Fax: +81 93 382 1252 Web: www.okano-valve.co.jp President: Masatoshi Okano No of Employees: 434 Sales: u billion Valve Products: Butterfly, Check, Control, Gate, Globe Okumura Engineering Corp Address: 446-10tani, Hino-cho, Gamo-Gun, Shiga 529-1608, Japan Tel: +81 748 52 2131 Fax: +81 748 52 5025 Web: www.okm-net.co.jp No of Employees: 150 2003 Sales of Valves: u million Valve Products: Butterfly, Control, Gate, Specials Oliver Valves Ltd Address: Parkgate Industrial Estate, Knutsford, Cheshire WAI 6 8DX, UK Tel: +44 1565 632636 Fax: +44 1565 654089 Web: www.valves.co.uk General Sales Manager: Ian Adamson

Valve Products: Bail, Check, Diaphragm, Gate, Needle, Plug, Relief Olson Technologies Inc Address: 160 Walnut St, Allentown, PA 18102, USA Tel: +1 610 770 1100 Fax: +1 610 770 1171 CEO: James Olson Valve Products: Butterfly, Plug OMAL SpA Address: Via San Lorenzo 70, 25069 Villa Carcina (BS), Italy Tel: +39 0308 900145 Fax: +39 0308 900423 Web: www.omal.com Valve Products: Automatic, Actuators OMB SpA Address: Via Europa 7, 24069 Cenate Sotto (Bergamo), Italy Tel: +39 035 4256711 Fax: +39 035 942638 Web: ww~:ombvalves.com Managing Director: Simone Brevi No of Employees: 180 Sales: E32 million Manufacturing Plant Area: 12 000 sq m Additional Factory: OMB (Valves) Asia Pte Ltd, Singapore (800 sq m) Valve Products: Ball, Check, Gate, Globe Omiya Seiki Co Ltd Address: 354 Iida, Omiya-shi, Saitama 331-0058, Japan Tel: +81 48 624 5461 Fax: +81 48 624 5465 President: Yuichi Taira Valve Products: Check, Gate, Globe ON Industries Ltd Address: 466 Jingo, Tsuyama-shi, Okayama 708-0015, Japan Tel: +81 868 28 0171 Fax: +81 868 28 4254 Web: www.onk-net.co.jp Valve Products: Ball, Butterfly, Check, Gate, Globe

Opperman Mastergear Ltd Address: Hambridge Rd, Newbury, Berkshire RG 14 5TS, UK Tel: +44 1635 811500 Fax: +44 1635 811501 Web: www.opermanmastergear.co.uk Managing Director: AS Waldie Director of Sales: M Shaw No of Employees: > 100 Additional Manufacturing: Mastergear USA, South Beloit, IL; Mastergear Germany, Neu Anspach; CML, Legnano (MI), Italy Parent Company: Regal Beloit Corp, USA Valve Products: Manual Actuators Orbinox SA Address: Poligono Industrial s/n, 20270 Anoeta, Spain Tel: +34 943 69 80 30 Fax: +34 943 65 30 66 Web: w~.orbinox.com Managing Director: Joseba Azurmendi No of Employees: 100 Manufacturing Plant Area: 8000 sq m Quality Assurance Certification: ISO 9001:2000 Certifying Body: Lloyd's Register Valve Products: Check, Kalife Gate, Slide Orsenigo srl Address: Via 1~ Maggio, 24060 Bolgare (BG), Italy Tel: +39 035 442 33 92 Fax: +39 035 442 32 94 Web: ~~:orsenigosrl.com Valve Products: Ball, Butterfly Oventrop GmbH & Co KG Armaturen + Systeme Address: PauI-Oventrop-Strasse 1, D-59939 Olsberg, Germany Tel: +49 2962 82 0 Fax: +49 2962 82 4 00 Web: ~s~v~:oventrop.de No of Employees: 800 2003 Sales: El 07 million

Profile of the International Valve Industry' 215

10 Directory of Valve Companies

Valve Products: Ball, Check, Control, Diaphragm, Gate, Globe, Plug, Safety Pacific Seismic Products Address: 233 East Avenue H-8, Lancaster, CA 93535-1821, USA Tel: +1 661 942 4499 Fax: +1 661942 0999 Valve Products: Earthquake Safety Pacific Valves Address: 3201 Walnut Avenue, Signal Hill, CA 90755, USA Tel: +1 562 426 2531 Fax: +1 562 427 7351 Web: ~av.cranevalves.com Parent Company: Crane Co, USA Valve Products: Check, Gate, Globe Paltechnologies (Pty) Ltd Address: 144 Edison Cresent, Hennops Park, Centurion, South Afi'ica Tel: +27 12 653 1156 Fax: +27 12 653 0456 Valve Products: Butterfly, Check, Control, Gate, Pinch Pan-Korea Metal Industrial Co Ltd (PK) Address: 192-1ShinChon-dong, Changwon-city, KN, South Korea Tel: +82 55 268 3777 Fax: +82 55 268 0281 Web: www.pkvalve.co.kr Director: Hyo-Sil, Youn Manufacturing Plant Area: 28 000 sq m No of Employees: 400 Valve Products: Ball, Butterfly, Check, Gate, Globe Parker Hannafin Corp Address: Instrymentation Valve Division, 2651 Alabama Highway 21 North, Jacksonville, AL 362659681, USA Tel: +1 256 435 2130 Fax: +1 256 435 7718 Web: ~~.parker.com Valve Products: Ball, Check, Metering, Needle, Plug, Relief, Sampling

216

PBM Inc Address: 1070 Sandy Hill Rd, Irwin, PA 15642, USA Tel: +1 724 863 0550 Fax: +1 724 864 9255 Web: www.pbmvalve.com Production Manager: John Martin Marketing Manager: Jay Giffen No of Employees: 70 2003 Sales of Valves: US$10 million Quality Assurance Certification: ISO 9001 Certifying Body: LRQA Valve Products: Ball, Control, Actuators PCC Ball Valves Address: C so Europa 22, 20020 Lainate, Milan, Italy Tel: +39 029 330 0401 Fax: +39 029 330 04331 Web: ~v.pccbv.it Managing Director: Silvano Calciolari Production Manager: Massimo Girola Marketing Manager: John Furfey No of Employees: 90 2003 Sales of Valves: US$30 million Manufacturing Plant Area: 11 500 sq m Quality Assurance Certification: ISO 2000 Certit~ing Body: BVQI Parent Company: Precision Castparts Corp, USA Valve Products: Ball PCC Flow Technologies- EMC Romania Address: l BP Hasdeu St, 2150 Campina, Romania Tel: +40 44 337 241 Fax: +40 44 336 553 Web: w~v.pccflow.com Managing Director: John Mitchell Parent Company: Precision Castparts Corp, USA PCC Flow TechnologiesE/One Address: 2773 Balhown Rd, Niskayuna, NY 12309-1090, USA Tel: +1 518 346 6161

Profile of the International Valve Industry

Fax: + 1 518 346 6185 Web: ~~,.pccflow.com President: Philip Welsh Parent Company: Precision Castparts Corp, USA PCC EuroValve BV Address: PO Box 54, NL-7580 CZ Losser, The Netherlands Tel: +31 535 369 536 Fax: +31 535 369 500 Web: w~av.pcceurovalve.ni Managing Director: J Wessels No of Employees: 230 2003 Sales of Valves: US$50 million Manufacturing Plant Area: 15 000 sq m Quality Assurance Certification: ISO 9001:2000 Certifying Body: British Standard Parent Company: Precision Castparts Corp, USA Valve Products: Butterfly, Check PCC Flow Products Address: 800 Koomey Rd, Brookshire, TX 77423, USA Tel: +1 281 934 6013 Fax: +1 800 765 2266 Web: www.pccflow.com President: Michael Darrah Manufacturing Plant Area: 250 000 sq ft No of Employees: 156 Parent Company: Precision Castparts Corp, USA Valve Products: Plug, Actuators PCC Flow Technologies- AMC Shanghai Address: Building B I2-B, Block No 52, Wuxi National High-Tech Industrial Zone, Wuxi, Jiangsu 214028, China Tel: +86 510 522 5018 Fax: +86 510 522 5038 Web: www.pccflow.com General Manager: Carl Hsiao Parent Company: Precision Castparts Corp, USA PCC Valves & Controls Address: 1537 Grafton Rd, Millbury, MA 01527, USA Tel: +1 508 887 9400

10 Directory of Valve Companies .

Fax: + 1 508 887 8612 Web: w~.pccflow.com President: Tim Guerin No of Employees: 65 Parent Company: PCC Flow Technologies (Precision Castparts Corp, USA) Valve Products: Ball, Check, Control Peko$ Valves SA Address: Rec del Molinar 9, E08160 Montmel6 (Barcelona), Spain Tel: +34 93 579 93 70 Fax: +34 93 579 92 44 Web: www.pekos.es Managing Director: Daniel Arranz Production Manager: Jesus Maldonado No of Employees: 14 Quality Assurance Certification: ISO 9001 Certifying Body: Lloyd's Valve Products: Ball Penta srl Address: Via Torricelli 27, 25080 Molinetto di Mazzano (BS), Italy Tel: +39 030 2629175 Fax: +39 030 2629176 Web: www.pentavalves.it Managing Director: Marie Orzali Production Manager: Marco Boifava Marketing Manager: Paolo Bolpagni No of Employees: 10 2003 Sales of Valves: US$1.6 million Manufacturing Plant Area: 1500 sq m Parent Company: Alfa Valvole srl, Italy Valve Products: Ball Penzensky Valve Plant JSC Address: l Transportnaya Str, Penza 440007, Russia Tel: +7 8412 663503/552421 Fax: +7 8412 552400/552490 Web: www.tl.ru/-.paz Valve Products: Ball, Check, Cone, Globe

Penztyazhpromarmatura JSC Address: 75A Prospect Pobeda, Penza 440028, Russia Tel: +7 8412 452201 Fax: +7 8412 470104 Web: www.ptpa.ru Managing Director: Alexander Chernishov Production Manager: Andrey Osipov Marketing Manager: Violeta Chayka No of Employees: 3500 2003 Sales of Valves: approx US$ 100 million Manufacturing Plant Area: 530 000 sq m Quality Assurance Certification: ISO 9001:2000 Certifying Body: TUV Vah,e Products: Ball, Butterfly, Globe, Check, Control, Gate, Stop, Knife, Plug, Pressure, Actuators Permaseal Valve Address: 7693 Manchester Highway, Morrison, TN 37357, USA Tel: +l 931 668 5377 Fax: +1 931 668 5378 Web: w~:smg-global.com Managing Director: Joe Grissum Marketing Manager: Vijay Puri No of Employees: 26 2003 Sales of Valves: US$1.8 million Manuthcturing Plant Area: 3900 sq m Parent Company: SMG Valve Products: Plug Perolo SA Address: 69-71 Rue des Macons, 33390 Blaye, France Tel: +33 5 57 42 67 00 Fax: +33 5 57 42 67 01 Web: www.perolo.com No of Employees: 63 2003 Sales: ~9.7 million Managing Director: Thierry Bourguignon Parent Company: Gardner Denver Inc, USA Valve Products: Butterfly, Check, Gate, Safi:ty

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Perrin GmbH Address: Siemenstrasse 1, D61130 Nidderau, Germany Tel: +49 6187 928 0 Fax: +49 6187 928 251 Web: ww~:perrin.de No of Employees: 100+ Valve Products: Ball StahI-Armaturen PERSTA GmbH Address: Mfilheimer Strasse 18, D59581 Warstein, Germany Tel: +49 2902 762 02 Fax: +49 2902 767 03 Web: www.persta.com International Sales: Norbert Clasen No of Employees: 205 Parent Company: Siepmann-Werke GmbH & Co KG, Germany Valve Products: Check, Gate, Globe Fratelli Pettinaroli SpA Address: Via Pianelli 38, 28017 San Maurizio d'Opaglio (NO), Italy Tel: +39 0322 96217 Fax: +39 0322 96546 Web: wx~'.pettinaroli.com No of Employees: 144 2002 Sales" ~20.1 million Valve Products: Ball, Check, Gate, Pressure Relief, Actuators Wilhelm Pesch KG GmbH & Co Address: Otto-Halm-Strasse 23, D-50971 K61n, Germany Tel: +49 2236 89 16 01 Fax: +49 2236 89 16 08 Web: www.peschgruppe.de Valve Products: Ball, Butterfly, Plug, Actuators Peter Smith Valve Co Ltd

Address: Occupation Rd, Cinderhill Rd, Bulwell, Nottingham NG6 8RX, UK Tel: +44 115 927 2831 Fax: +44 I 15 977 0233 Web: www.petersmithvalve.co.uk Managing Director: PN Smith No of Employees: 40 Valve Products: Check, Globe

Profile of the International Valve Industry 217

10 Directory of Valve Companies .

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Petrolvalves A/S Address: Luramyrvein 57, N-4300 Sandnes, Norway Tel: +47 51 631 193 Fax: +47 51 631 195 Web: www.petrolvalves.com Factory Locations: Sandnes, Norway; Busto Arsizio (VA), Italy; Alger, Algeria; AI-Khobar, Saudi Arabia; Kazakhstan ManuEtcturing Plant Area: 900 000 sq ft (Worldwide) Valve Products: Ball, Check, Gate, Globe Fratelli Pettinaroli SPA Address: Via Pianelli, 38 28017 San Maurizio d'Opaglio (NO), italy Tel: +39 0322 96217 Fax: +39 0322 96546 Web: x~'.pettinaroli.com Managing Director: Ugo Pettinaroli Production Manager: Giulio Pettinaroli Marketing Manager: Aldo Ruga No of Employees: 300 2003 Sales of Valves: US$60 million Manuf~tcturing Plant Area: 30 000 sq m Quality Assurance Certification: BSEN ISO 9001-2000 Certifying Body: BSI, BSE Parent Company: Jomar Valve Products: Ball, Gate, Glove, Plug, Actuators -

Pfannenschmidt GmbH Armaturenbau Address: Oststrasse 26, D-22844 Norderstedt, Germany Tel: +49 40 52 68 60 0 Fax: +49 40 52 68 60 33 Pfaudler-Werke GmbH Address: Pfaudlerstrasse, D-68723 Schwetzingen, Germany Tel: +49 6202 85 0 Fax: +49 6202 85 2 01 Web: www.p|hudler.de Managing Director: KH Bergmann Production Manager: H Heusel Marketing Manager: B Stoltz No of Employees: 380

218

Ph6nix Armaturen-Werke Bregel GmbH Address: Am Stadtbruch 6, D34471 Volkmarsen, Germany Tel: +49 5693 9 88 0 Fax: +49 5693 9 88 1 40 Web: www.phoenix-armaturen.de Valve Products: Check, Control, Gate, Globe, Pressure Gauge Pibiviesse SpA Address: Via Bergamina 24, 20014 Nerviano (MI), Italy Tel: +39 011 390 331 408711 Fax: +39 011 390 331 408800 Web: x~a~v.pibiviesse.it Parent Company: Circor International Inc, USA Valve Products: Ball, Gate Pister-Kugelhfihne GmbH Address: Vogesenstrasse 37, D76461 Muggensturm, Germany Tel: +49 7222 50 02 0 Fax: +49 7222 50 02 50 Web: w~'.pister-gmbh.com No of Employees: 100 2003 Sales: C14.5 million Manufacturing Plant Area: 16 000 sq m Valve Products: Ball, Check, Plug, Safety Plenty Strainers - Division of SPX Valves & Controls Address: 19191 Hempstead Highwa); Houston, TX 77065, USA Tel: +1 281 469 0550 Fax: +1 281 894 1332 Web: www.spxvalves.com Parent Company: SPX Corp, USA Valve Products: Check, Globe Polyjet- Division of SPX Valves & Controls Address: 3816 South Willow Avenue, Fresno, CA 93725, USA Tel: +1 559 441 5300 Fax: +l 441 5301 Web: wx~v.spxvalves.com Manufacturing Location: MueUer Steam Speciality,, 1491 NC Highway 20 West, St Pauls, NC 28384 Parent Company: SPX Corp, USA Valve Products: Control

Profile of the International Valve Industry

Posi-Flate Address: 1125 Willowlake Boulevard, St Paul, MN 55110, USA Tel: +1 651 484 5800 Fax: +1 651 484 7015 Web: www.posiflate.com Valve Products: Butterfly Posi-Flate Address: 14 Carters Lane, Kiln Farm, Milton Keynes MK11 3ER, UK Tel: +44 1908 564455 Fax: +44 1908 564615 Web: www.posiflate.com Managing Director: Graham Williams Production Manager: Robin Merrall Marketing Manager: Carol Steele No of Employees: 250 2003 Sales of Valves: US$17 million Manufhcturing Plant Area: 18 000 sq m Valve Products: Butterfly, Actuators The Wm Powell Co Address: 2503 Spring Grove Avenue, Cincinnati, OH 45214, USA Tel: +1 513 852 2000 Fax: + 1 513 852 2997 Web: x~v.powellvalves.com VP National Accounts: Brandy Cowart Valve Products: Check, Control, Gate, Globe, Needle, Pressure, Actuators Henry Pratt Co Address: 401 South Highland Avenue, Aurora, IL 60506-5563, USA Tel: +1 630 844 4000 Fax: +1 630 844 4124 Web: www.henrypratt.com Additional Factories: Dixon, IL; Hammond, IN Parent Company: Mueller Co, USA Valve Products: Ball, Butterfly, Check, Gate, Plug, Actuators

10 Directory of Valve Companies

Precision Castparts Corp Sdn Bhd Address: Lot 37, Jalan Johan 2/3, Kawasan Perindustrian Pengklan II, 31550 Pusing, Perak, Malaysia Tel: +60 53655 108 Fax: +60 53655 107 Premier Valves (Ply) LTd Address: PO Box 11735, Randhart 1457, South Africa Tel: +27 11 908 3760 Fax: +27 11 908 1268 Web: www.premiervalves.co.za Managing Director: Nico De Klerk Production Manager: Ruffy Cerbone Marketing Manager: Ken House No of Employees: 50 2003 Sales of Valves: US$5 million Manufacturing Plant Area: 4300 sq m Quality Assurance Certification: ISO 9001 Certifying Body: SABS Valve Products: Butterfly, Check, Cone, Control, Gate, Jet Disperser, Needle, Sleeve Process Development & Control Inc Address: 1075 Montour West Industrial Blvd, Coraopolis, PA 15108, USA Tel: + 1 724 695 3440 Fax: +1 724 695 8635 Web: www.pdcvalve.com No of Employees: 30 Valve Products: Butterfly, Control, Actuators PS Automation GmbH Address: Philipp-Kr~imer-Ring 13, D-67098 Bad Diirkheim, Germany Tel: +49 6322 6003 0 Fax: +49 6322 6003 20 Web: www.PS-automation.com Marketing Manager: Rainer Wendler No of Employees: 20 2003 Sales of Valves: US$3.5 million Manufacturing Plant Area: 400 sq m Valve Products: Actuators

PSA Armaturen GmbH Address: HofenlHsstrasse 46-48, D-66482 Zweibriicken, Germany Tel: +49 6332 8 03 2 98 Fax: +49 6332 8 03 1 04 Web: www.psa-armaturen.de Parent Company: POrringer+Schindler GmbH Valve Products: Ball, Check, Gate, Globe Pyroalliance Address: 139 route de Verneuil, BP 2052, 78132 Les Mureaux CEdex, France Tel: +33 1 34 92 44 44 Fax: +33 1 34 74 30 93 Web: www.pyroalliance.com CEO: B Zeller Executive Vice President: leanYves Canihac Parent Company: Groupe SNPE QTRCO Inc Address: 11250 Timber Tech Avenue, Tomball, TX 77375, USA Tel: + 1 281 516 0277 Fax: + 1 281 516 0288 Web: www.qtrco.com Valve Products: Actuators

Fax: +33 4 76 65 60 38 Web: www.randex.fr No of Employees: 13 2002 Sales: ~0.9 million Valve Products: Plastic- Ball, Butterfl); Check, Diaphragm, Actuators

Rastelli Rubinetterie SpA Address: Regione Monticelli 10/14, 28045 Invorio (NO), Italy Tel: +39 0322 2 5 5 4 3 1 / 2 / 3 Fax: +39 0322 255117 Web: w~v.rastelli.it No of Employees: 141 2002 Sales: ~25 million Valve Products: Ball, Check, Gate RBM SpA Address: Via San Giuseppe 1, 25075 Nave (BS), Italy Tel: +39 030 2537211 Fax: +39 030 2531798 Web: www.rbmspa.it No of Employees: 114 2000 Sales: ~41.6 million Valve Products: Control, Pressure Relief

Rakitynsky Valve Plant JSC Address: 26 Proletarskaya Str, Rakitnoje, Belgorodsky Region 309310, Russia Tel: +7 7245 55985/55957 Fax: +7 7245 55930/55163 Valve Products: Butterfly, Gate, Globe, Actuators

Red Point Alloys BV Address: Radonstraat 2, 2718 TA Zoetermeer, The Netherlands Tel + 31 79 3632070 Fax: +31 79 3611088 Web: w~av.redpoint.nl Managing Director: Luc Daverveldt Production Manager: Ted Jansen Marketing Manager: Luc Daverveldt No of Employees: 32 2003 Sales of Valves: US$5 million Manufacturing Plant Area: 1300 sq m Quality Assurance Certification: ISO 9002, ISO 9001, CEIPED Certifying Body: Det Norske Vertias Valve Products: Ball, Check, Gate, Globe

Randex SA Address: 153 rue du Placyre, BP 334, F-38509 Voiron Cedex, France Tel: +33 4 76 05 23 48

Red Valve Co Inc Address: 700 North Bell Avenue, Carnegie, PA 15106, USA Tel: + 1 412 279 0044 Fax: +1 412 279 7878

Raimondi Valvole SpA Address: Via CasTellanza 47, 20027 Rescaldina (MI), Italy Tel: +39 0331 575 111 Fax: +39 0331 464772 Web: www.tycovalves-eu.com Parent Company: Tyco International, USA Vah'e Products: Ball, Check, Gate, Globe

Profile of the International Valve Industry

219

10 Directory of Valve Companies

Web: www.redvalve.com President: George Raftis II Valve Products: Check, Control, Gate, Pinch

Red-White Valve Corp Address: 20600 Regency Lane, Lake Forest, CA 92630, USA Tel: +1 949 859 1010 Fax: +1 949 859 7200 Web: www.redwhitevalveusa.com Parent Company: Valvoindustria Ing Rizzio (VIR), Italy Valve Products: Ball, Butterfly, Check, Gate, Globe Reineke Mess- und Regeltechnik GmbH Address: Von-Ebner-EschenbachStrasse 5, D-44807 Bochum, Germany Tel: +49 234 9595 0 Fax: +49 234 9595 200 Web: ~aw,.reineke-online.com Valve Products: Control Reliance Water Controls Address: Worcester Rd, Evesham, Worcs WR11 4RA, UK Tel: +44 1386 47148 Fax: +44 1386 47028 Web: www.rwc.co.uk Valve Products: Pressure Relief Rembe GmbH Address: Gallbergweg 21, D59929 Brilon, Germany Tel: +49 2961 74 05 0 Fax: +49 2961 5 07 14 Web: ~av.rembe.de Production Manager: Friedhelm Kesting No of Employees: 62 Manufacturing Plant Area: 1200 sq m Quality Assurance Certification: EN ISO 9001:2000 Certifying Body: TOV Valve Products: Pressure Relief Remote Control Inc Address: 386 Dry Bridge Rd, PO Box 355, North Kingstown, RI 02852, USA Tel: +1 401 294 1400

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Fax: +1 401 294 3388 Web: www.rciactuators.com Valve Products: Actuators

Valve Products: Bottom, Check, Sampling

RGS Electro-Pneumatics Ltd Address: West End Business Park, Blackburn Rd, Oswaldtwistle, Lancs BB5 4WZ, UK Tel: +44 1254 872277 Fax: +44 1254 390133 Web: w~v.rgs-e-p.co.uk Parent Company: Parmeko plc, UK Valve Products: Solenoid

RIV Rubinetterie Italiane Valvole SpA Address: Via delle Acacie, 8 Zona Industriale D4, 28075 Grignasco (NO), Italy Tel: +39 0163 4151 Fax: +39 0163 411914 Web: ~avw.riv-vg.com No of Employees: 72 2002 Sales: (~11.8 million Valve Products: Ball, Gate

Richards Industries Address: 3170 Wasson Rd, Cincinnati, OH 45236, USA Tel: + 1 513 533 5600 Fax: +1 513 533 2585 Valve Products: Ball, Control, Needle, Pressure, Actuators

Riva Calzoni SpA Address: Via Serenari l/A, 40013 Castelmaggiore (Bologna), Italy Tel: +39 051 6329811 Fax: +39 051 6325329 Web: www.rivacalzoni.com Valve Products: Butterfly

Ring-O Valve Inc Address: 510 Industrial Blvd, Sugar Land, TX 77478, USA Tel: +1 281 240 0711 Fax: +1 281 240 0755 President & CEO: Scott Bender Valve Products: Ball, Check, Gate, Globe

Rockwood-Swendeman Address: 150 Coldenham Rd, PO Box 230, Walden, NY 12586, USA Tel: +1 845 778 7053 Fax: +1 845 778 7123 Web: www.rockwoodswendeman.com Managing Director: Tom Popeck Marketing Manager: Mark Spencer No of Employees: 150 Quality Assurance Certification: ISO 9001 ABS PED Parent Company: Circor International Inc, USA Valve Products: Cryogenic Sati:ty Relief, Diverter, Dual Safety, Relief Pressure

Ring-O Valve srl Address: Area Industriale, 23823 Colico, Italy Tel: +39 0341 932211 Fax: +39 0341 932401 Web: ~'.ringovalve.it Manufacturing Plant Area: 14 000 sq m Parent Company: Dresser Inc, USA Vah,e Products: Check, Gate, Globe RITAG Ritterhuder Armaturen GmbH & Co Armaturenwerk KG Address: Industriestrasse 7-9, D27711 Osterholz-Scharmbeck, Germany Tel: +49 4791 92 09 0 Fax: +49 4791 92 09 85 Web" ~ v . r i t a g . d e No of Employees: 50 2003 Sales: (~10 million

Profile of the International Valve Industry

Roforge Address: Parc d'activitts Stelytec, BP 19, 42405 Saint Chamond, France Tel: +33 4 77 22 55 77 Fax: +33 4 77 31 45 48 Web: ~r rotbrge, fi" No of Employees: 20 2002 Sales: (~3.6 million Valve Products: Ball, Bellows Seal, Check, Cryogenic, Gate, Globe

!0 Directory,.of Valve Companies Ronfard Address: 21 rue Saint Victorien, 69003 Lyon, France Tel: +33 4 78 54 08 54 Fax: +33 4 72 34 63 50 Valve Products: Check, Globe, Pressure Reduction, Safety ROOST-95 JSC Address: 17 Butlerova Str, Moscow 117342, Russia Tel/Fax: +7 95 3301077/3301277/3309778 Web: www.roost.ru Valve Products: Check, Control, Globe, Actuators Ross Valve Manufacturing Co Inc Address: 60akwood Avenue, Troy, NY 12181, USA Tel: + 1 518 274 0961 Fax: +1 518 274 0210 Web: www.rossvalve.com Valve Products: Globe Oceaneering Rotator AS Address: Postboks 24, Hagen 20, 4645 Nodeland, Norway Tel: +47 38185500 Fax: +47 381821 52 Web: www.rotator.no Production Manager: Ole Jorgen Bakkevold No of Employees: 90 2002 Sales: NKr146.4 million Manufacturing Plant Area: 5000 sq m Parent Company: Oceaneering International Inc, USA Valve Products: Control, Actuators Rotech Systemkomponenten GmbH Address: Im Katzentach 16-18, D76275 Ettlingen, Germany Tel: +49 7243 59 31 0 Fax: +49 7243 59 31 31 Web: ww~:rotech.de Valve Products: Control R6telmann GmbH Address: In der Lacke l 0, D58791 Werdohl, Germany Tel" +49 2392 91 91 0 Fax: +49 2392 91 91 14

Web: www.roetelmann.de No of Employees" 78 Valve Products: Ball, Check, Control, Actuators

Rotex Automation Ltd Address: 987/11 GIDC Makarpura, Vadodara-390010, India Tel: +91 265 2638136 Fax: +91 265 2638130 Web: www.rotexindia.com Managing Director: Rajesh Shah Production Manager: VM Sonar Marketing Manager: PR Desai No of Employees: 150 Manufacturing Plant Area: 1400 sq m Valve Products: Actuators Roto Hammer Industries Inc Address: 2804 W 40 th St, PO Box 9308, Tulsa, OK 74107 Tel: +1 800 477 7686 Fax: +1 918 446 6218 Valve Products: Actuators Rotork Controls Ltd Address: Brassmill Lane, Bath BA1 3JQ, UK Tel: +44 1225 733200 Fax: +44 1225 333467 Web: w~.rotork.com Managing Director: Bill Whiteley Production Manager: Geoff Hines Marketing Manager: Ian Adams No of Employees: 260 Parent Company: Rotork plc, UK Valve Products: Actuators Rotork Controls Inc Address: 675 Mile Crossing Blvd, Rochester, NY 14624, USA Tel: +1 585 328 1550 Fax: +1 585 328 5848 Web: www.rotork.com Managing Director: Chris Warnett Production Manager: Dan Brown Marketing Manager: Howard Williams Manufacturing Plant Area: 61 000 sq ft Quality Assurance Certification: ISO 9001:2000 Certi@ing Body: BVQI Valve Products: Actuators

Rotork Controls (India) Ltd Address: 28-B Ambattur Industrial Estate (North), Chennai- 600 098, India Tel: +91 44 6254219/6258136 Fax: +91 44 6257108 Web: www.rotork.com Parent Company: Rotork plc, UK Valve Products: Actuators Rotork Skilmatic Address: Unit 1, Regina House, Ring Rd, Bramley, Leeds, West Yorkshire LSI 3 4ET, UK Tel: +44 113 205 7256 Fax: +44 0870 243 9694 Web: w~,~v.rotork.com Parent Company: Rotork plc, UK Valve Products: Actuators

Rusal (Pty) Ltd Address: 14 Dekenah St, Alrode, South Africa Tel: +27 11 908 3377 Fax-+27 11 908 2392 Valve Products: Butterfly, Check

Sabre Instrument Valves Ltd Address: Golf Rd, Hale, Altrincham, Cheshire WA15 8AH, UK Tel: +44 161 928 4287 Fax: +44 161 928 5651 Saccap-Sapag Address: 112-114 Ave de Vend6me, 41000 Blois Cedex, France Tel: +33 2 54 52 33 20 Fax: +33 2 54 52 33 22 Web: wx~v.saccap,fi" President: J-P Brouzes No of Employees: 49 2002 Sales: E8.8 million Valve Products: Bellows Sealed, Check, Cryogenic, Gate, Globe

Safety Systems UK Ltd Address: Sharp St, Worsley, Manchester M28 3NA, UK Tel: +44 161 790 7741 Fax: +44 161 703 8451 Web: wx~.safetysystemsuk.com Managing Director: David Simpson Parent Company: Tyco Flow

Profile'of the international Valve Industry 221

70

Directory of Valve Companies

Control, USA Valve Products: Isolating, Pressure Reducing, Safety Relief

Valve Products: Check, Diaphragm, Needle, PFA, Plastic, PTFE

SAFI-DeutschlandKunstoffarmaturen-VertriebsGmbH Address: Jahnstrasse 29, D-64319 Pfungstadt, Germany Tel: +49 6157 819 19 Fax: +49 6157 820 25 Web: w~av.safi-d.de Valve Products: Plastic- Bali, Butterfly, Diaphragm, Non-Return

Salvi Address: ZI rue du Laiton, BP 72, 77543 Savigny le Temple Cedex, France Tel: +33 1 64 41 99 75 Fax: +33 1 64 63 31 59

Saint Germain et Straub Address: 22 place de la Marie, 80130 Friville Escarbotin, France Tel: +33 3 22 30 00 43 Fax: +33 3 22 30 69 63 Saint-Gobain Condotte SpA Address: Via E Romagnoli 6, 20146 Milano, Italy Tel: +39 02 4243483 Fax: +39 02 4243333 Web: ~ v . s g c o n d otte.com Parent Company: Saint-Gobain Group Valve Products: Butterfly, Check, Control, Gate, Pressure Limiting, Actuators Saint-Gobain Pipelines plcValve Division Address: Lows Lane, Staton by Dale, Ilkerston, Derbyshire DE7 4QU, UK Tel: +44 115 930 5000 Fax: +44 115 944 9513 Parent Company: Compagnie de Saint Gobain, France Vah,e Products: Check, Gate Saint-Gobain Performance Plastics Address: 7301 Orangewood Ave, Garden Grove, CA 92841, USA Tel: + 1 714 630 5818 Fax: +1 714 688 2614 Web: w~av.microelectronics.saintgobain.com Manufacturing Plant Area: 20 000 sq m Parent Company: Saint-Gobain Corp

222

Samaravolgomash Address: Belorusskaya St, PO Box 325, Samara 443042, Russia Tel: +7 8462 263247 Fax: +7 8462 264056 Managing Director: Victor Maslov Marketing Manager: Anatoly Kotov No of Employees: 200 2003 Sales of Valves: US$10 million Manufacturing Plant Area: 10 000 sq m Quality Assurance Certification: ISO 9001 Certi6ying Body: Intercertifika Valve Products: Ball Samjin Precision Co Ltd Address: 1-3 l, Daehwa-Dong, Daeduck-Ku, Taejeon, South Korea 306-802 Tel: +82 42 670 6260 Fax: +82 42 670 6261 Web: ~avw.samjinvalve.com Valve Products: Butterfly, Gate Samson AG Mess- und Regeltechnik Address: Weismiillerstrasse 3, D60314 Frankfurt, Germany Tel: +49 69 40 09 0 Fax: +49 69 40 09 1507 Web: ~rw.samson.de Valve Products: Ball, Butterfly, Control, Safety, Actuators Samson Controls Inc Address: 4111 Cedar Blvd, Baytown, TX 77520-8588, USA Tel: +1 281 383 3677 Fax: + 1 281 383 3690 Web: www'sams~176176176 President: Louis Gondorph Moiler Parent Company: Samson AG, Germany Valve Products: Actuators

Profile of the International Valve Industry

Sankyo Seisakusho Co Ltd Address: Yotsubashi Shinkosan Building 702, 5-2 1-chome Kita Horie, Nishi-ku, Osaka 550-0014, Japan Tel: +81 6 6541 9081 Fax: +81 6 6541 9098 Web" w~av.sankyo-s-s.co.jp Factory Location: 4-8, 3-chome Wakamatsucho-higashi, Tondabayashi-city, Osaka 5840023 (Tel: +81 721 24 1107) President: Takao Matsui Vah,e Products: Control, Diaphragm, Float, Relief, Safety, Solenoid Sanuki Foundry Co Ltd Address: 1802 Higashi-Takashino, Manno-cho, Nakatado-gun, Kagawa 766-0013, lapan Tel: +81 877 73 4121 Fax: +81 877 73 2048 President: Takashi Yamashino Valve Products: Ball, Check, Gate, Globe Sapag Adress: 2 rue du Marais, F-80400 Ham, France Tel: +33 3 23 81 43 00 Fax: +33 3 23 81 18 69 Web: w~av.sapag-vah,es.com Parent Company: Tyco International, USA Valve Products: Ball, Butterfly, Check, Control, Safi~ty Sart von Rohr sas Address: 25 Rue de la Chapelle, B P 2, 68620 Bitschwiller Les Thann, France Tel: +33 3 89 37 79 50 Fax: +33 3 89 37 79 51 Web: ~avw.sart-von-rohr, fi" Parent Company: Circor International Inc, USA Valve Products: Control, Actuators Hans Sasserath & Co KG Address: Mfihlenstrasse 62, D41352 Korschenbroich, Germany Tel: +49 2161 61 05 0 Fax: +49 2161 61 05 20 Web: wa~v.syr.de 2003 Sales: E47 million

10 Directory of Valve Companies

No of Employees: 220 Valve Products: Regulating, Safety Sauter-Cumulus GmbH Address: Hans-Bunte-Strasse 15, D-79108 Freiburg, Germany Tel: +49 761 51 05 0 Fax: +49 761 51 05 2 34 Web: www.sauter-cumulus.com Valve Products: Control, Safety Sawamura Valve Mfg Co Ltd Address: 1262-2 Kawase-Babacho, Hikone-shi, Shiga 522-0223, Japan Tel: +81 749 25 1101 Fax: +81 749 25 2964 President: Masako Sawamura Valve Products: Check, Gate, Globe ScanArmatur as Address: PO Box 43, N-5346 Agotnes, Norway Tel: +47 5631 2900 Fax: +47 5631 2910 Web: www.scanarmatur.no Parent Company: Technor, Norway Valve Products: Ball, Butterfly, Check, Control, Gate, Safety CF Scheer & Cie GmbH & Co Address: Ludwigsburger Strasse 13, D-70435 Stuttgart, Germany Tel: +49 711 241 Fax: +49 711 282 Web: www.cf-scheer.de No of Employees: 160 2002 Sales: (~27 million Quality Assurance Certification: ISO 9001 DIN EN Valve Products: Control Rudolf von Scheven GmbH Address: Brinkerstrasse 1-7, D45549 Sprockh6vel, Germany Tel: +49 23 24 97 42 0 Fax: +49 23 24 77320 Web: www.von-scheven.de No of Employees: 50 2002 Sales: (~6.8 million Valve Products: Ball, Special Designs, Actuators

Wilhelm Schleu GmbH & Co Address: CarI-Zeiss-Strasse 4, D22946 Trittau, Germany Tel: +49 4154 80 81 0 Fax: +49 4154 8 21 84 Web: www.wilhelm-schley.com No of Employees: 20 2002 Sales: ~1.8 million Valve Products: Butterfly, Check, Gate, Globe, Safety Schmidt Armaturen GmbH Address: Kasernengasse 6, Postfach 189, A-9500 Villach, Austria Tel: +43 42 42 41 181-0 Fax: +43 42 42 41 181-50 Parent Company: Flowserve Corp, USA Valve Products: Control, Actuators Ernst Schmieding GmbH & Co KG Address: Natorper Strasse 55, D59439 Holzwickede, Germany Tel: +49 2301 1 89 0 Fax: +49 2301 1 89 65 Web: www.schmieding.de Managing Director: J iirgen ROmer No of Employees: 60 2003 Sales: (~22 million Valve Products: Ball, Butterfly, Check, Control, Gate, Globe, Safety Armaturenfabrik Franz Schneider GmbH & Co KG Address: Bahnhofplatz 12, D74226 Nordheim/Heilbronn, Germany Tel: +49 7133 101 0 Fax: +49 7133 101 180 Web: w~v.AS-Schneider.com 2000 Sales: (~24.5 million Valve Products: Bellows Sealed, Needle, Pressure Gauge, Safety, Shut-Off, Slanted Seat, Specials Sch6neberg Armaturen GmbH Address: Markplatz 18, D-76356 Weingarten, Germany Tel: +49 7244 7025 0 Fax: +49 7244 7025 40 Web: www.schoenebergarmaturen.de Valve Products: Ball

Schubert & Salzer Control Systems GmbH Address: Bunsenstrasse 38, D85053 Ingolstadt, Germany Tel: +49 841 965 30 Fax: +49 841 965 34 05 Web: www.schubert-salzer.com Managing Partner: Dr Arnold Kawlath No of Employees: 55 2003 Sales: 1~9 million Valve Products: Check, Control, Diaphragm, Globe, Plug, Actuators SchuF-Armaturen und Apparatebau GmbH Address: An der Guldenmfihle 810, D-65817 Eppstein/Frankfurt, Germany Tel: +49 6198 571 100 Fax: +49 6198 571 200 Web: www.schuf.de Managing Director: Dr Frank Production Manager: Mr Kehrs Marketing Manager: Mrs Truschnowitsch No of Employees: 87 Quality Assurance Certification: ISO 9000 PED HPO 2001 Sales: (~7.4 million Certifying Body: Bureau Veritas Valve Products: Control, Diaphragm, Diverter, Globe, Lift Plug, Sampling, Spray-Rinse, Tank Safety Georg SchiJnemann GmbH Address: Buntentorsdeich 1, D28201 Bremen, Germany Tel: +49 421 5 59 09 0 Fax: +49 421 5 59 09 40 Web: www.sabfilter.de No of Employees: 59 2003 Sales: (~5.9 million Valve Products: Ball, Check, Control, Diaphragm, Globe, Safi:ty Schwietzke Armaturen GmbH Address: Weusterstrasse 13, D46240 Bottrop, Germany Tel: +49 2041 7477 0 Fax: +49 2041 7477 89 Web: w~.schwietzke.de

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223

10 Directory of Valve Companies

No of Employees: 51 2003 Sales: E23 million Valve Products: Butterfly, Check, Control Gate, Globe Seetru Ltd Address: Albion Dockside Works, Bristol BS1 6UT, UK Tel: +44 117 927 9204 Fax: +44 117 929 8193 Web: www.seetru.co.uk No of Employees: 120 2003 Sales: s million Valve Products: Safety Segault Address: 46 rue de la Fontaine, 91540 Mennecy, France Tel: +33 1 69 90 63 00 Fax: +33 1 64 57 35 59 Web: ~savw.segault.ff No of Employees: 35 2002 Sales: E5.1 million Valve Products: Butterfly, Globe, Safety, Solenoid, Special Sempell AG Address: Werner-von-SiemensStrasse 11, D-41352 Korschenbroich, Germany Tel: +49 2161 6 15 0 Fax: +49 2161 6 47 61 Web: www.sempell.com No of Employees: 360 2003 Sales: E53 million Parent Company: Tyco International, USA Valve Products: Butterfly, Check, Control, Gate, Globe, Safety, Actuators Servovalve Address: Via Quasinoclo 27, S Stefano Tic, 2001 O, Italy Tel: +39 02 9029 6648 Fax: +39 02 9029 6708 Web: www.servovah'e.it President: Giorgio Utili Managing Director: PF Rovescalli Production Manager: PF Rovescalli Marketing Manager: Udli Attareio No of Employees: 35 2003 Sales of Valves: US$7.2 million

224

Manufacturing Plant Area: 8000 sq m Quality Assurance Certification: ISO 9001-PED-ATEX Certifying Body: DNV Valve Products: Actuators Severn Glocon Ltd Address: St Luke St, Southgate St, Gloucester GLI 5RE, UK Tel: +44 1452 318900 Fax: +44 1452 318901 Web: x~avw.severnglocon.com No of Employees: 160 2002 Sales: s million Valve Products: Control, Actuators SGD (Socidt6 de Gestion et de Diffusion) - Meca-lnox Division Address: 1 rue Jean Pierre Timbaud, 95100 Argenteuil, France Tel: +33 1 30 25 79 80 Fax: +33 1 30 25 79 81 Web: ~avw.meca-i nox.tm, fr Factory Location: 32 route des Routis, Le Coudray St Germer, 60850 Saint-Germer-de-Fly, France Valve Products: Ball, Check, Actuators Shanghai Flow Valve & Fitting Co Ltd Address: 504A Zhongda Square, 989 Dongthng Rd, Shanghai 200122, China Tel: +86 21 68757387 Fax: +86 21 68676303 Web: ~w~av.flow-vaive.com Managing Director: Mr Zhang Production Manager: Mr Sun No of Employees: 60 2003 Sales of Valves: US$16 million Manut~acturing Plant Area: 4000 sq m Quality Assurance Certification: ISO 9001 Certifying Body: TOV DNV Valve Products: Ball, Butterfly, Check, Control, Gate, Globe, Plug

Profile of the International Valve Industry

Shanghai Halin Control Valves Co Ltd Address: No 208 Kaogin Rd, Qingpu District, Shanghai 201702, China Tel: +86 21 5988 1369 Fax: +86 21 5988 1346 Web: ~awv.halin.com Valve Products: Ball, Butterfly, Check, Gate, Globe, Actuators

Shanghai Karon Valves Machinery Co Ltd Address: 9B, No 686 Rd, Shanghai 200051, China Tel: +86 21 6241 5197 Fax: +86 21 6241 3949 Web: www.karon-valve.com No of" Employees: 500+ 2003 Sales of Valves: US$28 million Manu|hcturing Plant Area: 35 000 sq m Quality Assurance Certification: ISO 9001, ISO 14001, CE, WRAS Certil~,ing Body: China Quality Certification Ctr Parent Company: Ming Guan, Taiwan Valve Products: Ball, Butterfly, Check, Control, Diaphragm, Gate, Plug, Pressure Shanghai Neles-Jamesbury Valve Co Ltd Address: 1063 Siping Rd, Shanghai 200092, China Tel: +86 21 65021410 Fax: +86 21 65020368 Web" www.sn-j.com Parent Company: Metso Automation/Shanghai Valve & Equipment Corp JV Valve Products: Ball, Butterfly, Actuators

Shaw Son & Greenhalgh Ltd Address: Albert St, Huddersfield HD1 3QG, UK Tel: +44 1484 532425 Fax: +44 1484 512426 Web: v~av. shawvalves.co.uk No of Employees: 47 2002 Sales: s million Valve Products: Check, Gate, Globe, Safety

10 Directory of Valve Companies

Shida Eng Co Ltd Address: 4-1-17 Osaki, Shinagawaku, Tokyo 141-0032, lapan Tel: +81 3 3492 2037 Fax: +81 3 3492 2039 Web: www,shida-valve.com President: Kaoru Shida Valve Products: Check, Control Shimizu Alloy Mfg Co Ltd Address: 928 Higashi-Nonamicho, Hikone-shi, Shiga 522-0033, Japan Tel: +81 749 23 3131 Fax: +81 749 22 0687 Web: www.shimizugokin.co.jp President: Fumio Chino Valve Products: Butterfly, Check, Control, Gate Shimizu Iron Works Co Ltd Address: 4-16 Yasukiyocho, Hikone-shi, Shiga, 522-0082, Japan Tel: +81 749 22 2551 Fax: +81 749 22 2542 Web: www.shimizu-valve.co.jp President: Katsumi Shimizu Valve Products: Ball, Butterfly, Check, Control, Gate Shimizu Kogyo Co Ltd Address: 250 Nirecho, Hikone-shi, Shiga 529-1151, Japan Tel: +81 749 25 2550 Fax: +81 749 28 8015 President: Hirokazu Shimizu No of Employees: 70 2003 Sales: u million Valve Products: Ball, Butterfly, Check, Control, Gate Shin Han Control Valve Co Ltd Address: 407 Kumkang B/D, 1435 Yeoido-Dong, Yeoungdeungpo-Ku, Seoul 150010, South Korea Tel: +82 2 784 3603 Fax: +82 2 784 3606 Web: www.shcontrol.co.kr Shinwa Kogyo Co Ltd Address: 150- l Kogahara, Koracho, Inukami-gun, Shiga 5220243, Japan Tel: +81 749 25 3211

Fax: +81 749 25 3210 Valve Products: Gate Shipham Valves Ltd Address: Hawthorn Avenue, Kingston upon Hull, Humberside HU3 5JX, UK Tel: +44 1482 323163 Fax: +44 1482 224057 Web: www.shipham-valves.com No of Employees: 64 Valve Products: Ball, Butterfly, Check, Gate, Globe, Needle, Actuators Shoritsu Seisakusho Co Ltd Address: 2-7-21 Matsushima, Edogawa-ku, Tokyo 132-0031, Japan Tel: +81 3 3654 9211 Fax: +81 3 3651 5688 Web: w~v.sfv.co.jp Factory Location: 1228-5 Oki, Yachimata City, Chiba Prefecture, 289-1126 President: Tomozo Kato No of Employees: 132 2003 Sales: u million Valve Products: Check, Gate, Globe Showa Valve Co Ltd Address: 155-9 Koizumi, Hikone, Shiga 522-0043, Japan Tel: +81 749 22 4545 Fax: +81 749 26 1785 Web" www.showavalve.co.jp Managing Director: Satoshi Nakagawa Production Manager: Masaaki Sakurai Marketing Manager: Yosukz Nakagawa No of Employees: 140 2003 Sales of Valves: US$1 million Manufacturing Plant Area: 12 000 sq m Quality Assurance Certification: ISO 9001 Certifying Body: BVQI Valve Products: Ball, Butterfly, Check, Diaphragm, Gate, Globe, Needle, Actuators

Shudo Valve Mfg Co Ltd Address: 4-8-16 Daido, Tennojiku, Osaka 543-0052, Japan Tel: +81 6 6779 8095 Fax: +81 6 6779 2563 Valve Products: Ball, Check, Diaphragm, Gate, Globe Shreeraj Industries Address: l 01 Samruddhi, Sattar Taluka Society, Opp High Court Lane, Ahmedabad-380 014, India Tel: +91 79 754 2813 Fax: +91 79 754 0847 Web: ~vw.shreerajindia.com Valve Products: Bail, Check, Gate, Globe Siebeck-Bitter GmbH Armaturen- und Metallwerk Address: Am Sandbach 35-41, D40878 Ratingen, Germany Tel: +49 2102 45 06 0 Fax: +49 2102 45 06 50 Web: www.siebeck-bitter.de Managing Director: Helmuth Fricke No of Employees: 23 2003 Sales: q5 million Valve Products: Ball, Check, Gate, Actuators

Siebe Control Systems Address: Loves Park, IL 611322940, USA Tel: + 1 815 637 3054 Fax: + 1 815 637 5335 President: Rick Arbrust Valve Products: Ball, Butterfly, Control, Globe, Actuators Siekmann Econosto GmbH & Co KG Address: Freigrafenweg 2, D44357 Dortmund, Germany Tel: +49 231 9375 0 Fax: +49 231 9375 199 Web: www.siekmann_econosto.de Parent Company: Royal Econosto Group, The Netherlands Valve Products: Ball, Bellow Seal, Bottom, Butterfly, Check, Diaphragm, Gate, Globe, Needle, Pressure Reducing

Profile of the International Valve Industry 225

10 Directory of Valve Companies

Sinclair Collins Address: 454 Morgan Avenue, Akron, OH 44311, USA Tel: +1 330 724 3535 Fax: +1 330 724 3956 Sales & Marketing Manager: Jim Misch Valve Products: Check, Control, Diaphragm, Globe, Actuators SIPOS Aktorik GmbH Address: Donaustrasse 120, D90451 Nfirnberg, Germany Tel: +49 911 632 84 0 Fax: +49 911 632 84 111 Web: www.sipos.de No of Employees: 47 2003 Sales: E11 million Quality Assurance Certification: ISO 9001-2000 Valve Products: Actuators SIRCA International srl Address: Via U Foscolo 3/D, 20060 Basiano (MI), Italy Tel: +39 02 95761444 Fax: +39 02 95761807 Web: ~w.sircainternationai.com Marketing Manager: Giampiero Alidori Production Manager: Massimo Cassinari No of Employees: 30 Manufacturing Plant Area: 4600 sq m Quality Assurance Certification: ISO 900.1 Certifi/ing Body: TUV Valve Products: Ball, Butterfly, Check, Actuators SISTAG Address: Alte Kantonsstrasse, CH-6274 Eschenbach, Switzerland Tel: +41 41 449 99 44 Fax: +41 41 448 34 31 Web: www.sistag.ch Managing Director: Hans-JOrg Sidler Production Manager: Mr Aschwanden Marketing Manager: Mr Meyer No of Employees: 120 2003 Sales of Valves: US$14 million

226

Certifying Body: SQS Valve Products: Butterfly, Check, Knif~ Gate, Sluice Gate Sisto Armaturen SA Address: BP 44, L-7501 Mersch, Luxembourg Tel: +352 3250 851 Fax: +352 3289 56 Web: wx~v.ksbgroup.com Managing Director: Wolfg;ang Laser Production Manager: Christoph Burelbach Marketing Manager: Werner Busemeyer No of Employees: 127 2002 Sales: E12.5 million Parent Company: KSB AG Valve Products: Diaphragm, Actuators Sitindustrie Equipment Address: Via Orlonghetto 4, 13018 Valduggia (VC), Italy Tel: +39 0163 4361 Fax: +39 0163 4813 Web: ~wv.sitind ustrie.com Managing Director: Fausto Bocciolone No of Employees: 55 2003 Sales of Valves: US$10.5 million Quality Assurance Certification: ISO 9001:2000 Certi~,ing Body: Det Norske Veritas Valve Products: Bali, Check, Gate, Globe, Pressure SM Steinsvik Maskinindustri a/s Address" Frakkagjerd, 5563 Forresfjorden, Norway Tel: +47 52 75 47 00 Fax: +47 52 75 47 01 Web: ~awv.smgroup.net No of Employees: 153 2002 Sales: NKa'249 million Valve Products: Gate, Needle Smart Valve Controls Address: Upper Lambridge St, Larkhall, Bath BA1 6RY, UK Tel: +44 1225 428 891 Fax: +44 1225 336859

Profile of the International Valve Industry

Valve Products: Pneumatic Electric Actuators SNC Sainte Lizaigne Address: 47 rue de l'Usine- Sainte Lizaigne, 36260 Reuilly, France Tel: +33 2 54 04 04 04 Fax: +33 2 54 04 06 40 No of Employees: 112 2000 Sales: E21 million SNRI Address: route du Treuil, BP 107, 16700 Ruffle, France Tel: +33 54 529 6000 Fax: +33 54 529 6065 Managing Director: J Marquant No of Employees: 150 2001 Sales: E16.2 million Manuihcturing Plant Area: 45 000 sq m Parent Company: Technor Group Valve Products: Ball, Butterfly, Check, Diaphragm, Gate, Globe, Needle, Plug, Pressure Solent & Pratt Ltd (Division of Curtiss-Wright Flow Control (UK) Ltd) Address: 202 St Andrews Rd, Bridport, Dorset DT6 3BS, UK Tel: +44 1308 422256 Fax: +44 1308 427760 Web: w~s~e.solentpratt.co.uk Parent Company: Curtiss-Wright Corp, USA Valve Products: Butterfly, Control S6rberg Produktion AB Address: PO Box 29, SE-736 21 KungsOr, Sweden Tel: +46 227 410 00 Fax: +46 227 135 67 Southeastern Valve Specialties Inc Address: 290-A Corporate Drive, Lumbenton, NC 28358, USA Tel: + 1 910 738 8325 Fax: +1 910 739 1733 Valve Products: Ball, Butterfly, Check, Control, Diaphragm, Needle, Plug, Actuators

.,. 10 Directory of Valve Comp.anies

SOUZ-01 Firm JSC Address: 13 Vavilova Str, Moscow 117312, Russia Tel: +7 95 1355431/1329345 Fax: +7 95 9571270/9571267 Web: www dol.ru/users/sous01 Valve Products: Control Spence Engineering Co Inc Address: 150 Coldenham Rd, PO Box 230, Walden, NY 12586, USA Tel: +1 845 778 5566 Fax: +1 845 778 1072 Web: www.spenceengineering.com Managing Director: Tom Popeck Marketing Manager: Steve Bisgrove No of Employees: 150 Quality Assurance Certification: ISO 9001 Certifying Body: ABSC Parent Company: Circor International Inc, USA Valve Products: Ball, Butterfl); Check, Pressure, Control, Pressure Regulating, Safety Relief, Temperature Regulating, Triple Duty Actuators, Spirax Sarco Canada Ltd Address: 383 Applewood Crescent, Concord, Ontario L4K 413, Canada Tel: + 1 905 660 5510 Fax: +1 905 660 5503 Web: www.spirax-sarco.com VP Sales: M Plebon Parent Company: Spirax-Sarco Engineering pie, UK Spirax Sarco GmbH Regelapparate Address: Reichenaustrasse 21 O, D78467 Konstanz, Germany Tel: +49 7531 58 06 0 Fax: +49 7531 58 06 22 Web: w~av.spirax-sarco.com 2003 Sales: El 7.2 million Parent Company: Spirax-Sarco Engineering pie, UK Valve Products: Ball, Check, Control, Globe, Safety, Actuators

Spirax Sarco Inc Address: l 150 Northpoint Boulevard, Blythewood, SC 29016, USA Tel: + 1 803 714 2000 Fax: +1 803 714 2222 Web: w~,.spiraxsarco.com/us Marketing Manager: Bob Jacenko Parent Company: Spriax-Sarco Engineering pic, UK Valve Products: Ball, Check, Control, Globe, Pressure, Actuators Spirax-Sarco Ltd Address: Charlton House, Cirencester Rd, Chehenham, Glos GL53 8ER, UK Tel: +44 1242 521361 Fax: +44 1242 573342 Web: wwx~:spiraxsarco.com Parent Company: Spirax-Sarco Engineering pie, UK Valve Products: Ball, Check, Control, Pressure, Sati:ty, Actuators Spirax Sarco SAS Address: 8 Avenue ie Verrier, 78190 Trappes, France Tel: +33 1 30 66 43 43 Fax: +33 1 30 66 11 22 Web: ~a~:spiraxsarco.com Managing Director: Yannick Drean Production Manager: Didier Leborgne Marketing Manager: Claude Weinachter No of Employees: 300 2003 Sales of Valves: US$57.5 million

Manufacturing Plant Area: 9000 sq m Quality Assurance Certification: ISO 9001 Certifying Body: LRQA Parent Company: Spirax-Sarco Engineering pie, UK Valve Products: Ball, Butterfly, Check, Control, Pressure, Safety, Actuators

SPLAV Machine Building Corp Address: 61 Nekhinskaya Str, Velikiy Novgorod 173021, Russia Tel" +7 8162 157870

Fax" +7 8162 157874 Valve Products" Ball, Control, Globe

SPP Bohemia Trade as Address: Zavod Armaturka Rohatec, 69601 Rohatec Sobofiky, Czech Republic Tel: +420 628 359190 Fax: +420 628 359328 Web: www.interfluid.cz Vah,e Products: Ball, Butterfly, Check, Gate, Globe, Actuators SPX Valves & Controls Address: 411 North Sam Houston Parkway East, Suite 500, Houston, TX 77060, USA Tel: + 1 281 260 5120 Fax: + 1 281 999 3265 Web: ww~;spxvalves.com Parent Company: SPX Corp, USA SSl Equipment Inc Address: 150 Coldenham Rd, PO Box 230, Walden, NY 12586, USA Tel: +1 845 778 5566 Fax: +1 845 778 1072 Web: w~a~:ssiequipment.com Parent Company: Circor International Inc, USA Valve Products: Butterfly, Check Starline SpA Address: Via F Baracca 30, 24060 S Paolo D'Argon (Bergamo), Italy Tel: +39 035 958041 Fax: +39 035 958413 Web: ~avw.starline.it President: Santo Rota 2001 Sales: E9.3 million Manu~hcturing Plant Area: 4000 sq m No of Employees: 40 Valve Products: Ball Steinsvik Maskinindustri AS

Adress: N - 5 5 6 3 Forresfiorden,

Norway Tel: +47 527 54700 Fax: +47 527 54701 Web: w~av.steinsvik.no Managing Director: Hans Fingereide No of Employees: 35

Profile of the International Valve industry

227

10 Directory of Valve Companies

2003 Sales of Valves: US$7 million Manuthcturing Plant Area: 2000 sq m Quality Assurance Certification: ISO 9001 Valve Products: Needle

SteriValves srl Address: Via Enrico Mattei 393, 55100 Mugnano-Lucca, Italy Tel: +39 0583 440 560 Fax: +39 0583 440 559 Web: www.sterivalves.com Valve Products: Butterfly, Rotary Strack GmbH Address: Im Hasenwinkel 18, D39179 Barleben, Germany Tel: +49 39203 898930 Fax: +49 39203 898959 Web: w~w.strack-valve.de No of Employees: 20 2003 Sales: E3 million Production: Ph6nix ArmaturenWerke Bregel GmbH Valve Products: Bottom, Check Gate, Globe, Plug

Sufa Imp & Exp Corp Address: 2114 Renmin Rd, Suzhou 215001, China Tel: +86 512 67510347 Fax: +86 512 67532707 Web: w,ccw.sufavalve.com Managing Director: Chen Jian Ping Production Manager: Liu Jian Pei Marketing Manager: Miao Bao Xing No of Employees: 1200 2003 Sales of Valves: US$60 million Manufacturing Plant Aa'ea: 22 000 sq m Quality Assurance Certification: ISO 9001 Certifying Body: DNV Parent Company: Sufa Tech and Industry Co Ltd Valve Products: Diaphragm, Ball, Butterfly, Check, Control, Gate, Glove, Needle, Pinch, Pressure, Actuators

228

SOdmo Components GmbH Address: Industriestrasse 7, D73469 Riesbfirg, Germany Tel: +49 9081 803 0 Fax: +49 9081 803 158 Web: www.suedmo.de Managing Director: Stephan Thomaschki Marketing Manager: Thomas Feldwick No of Employees: 200 Quality Assurance Certification: ISO 9001:2000 Certit;ying Body: FDA, PMO 3A Parent Company: Si.idmo Holding GmbH Valve Products: Bali, Butterfly, Check, Control, Diaphragm, Plug, Pinch, Pressure, Actuators Sugimoto Valve Industry Co Ltd Address" 5-4-8 Domyoji, Fujiiderashi, Osaka 583-0012, Japan Tel: +81 729 55 1231 Fax: +81 729 54 2928 Valve Products: Check, Globe Sumida Co Ltd Address: 2789 Hinatsucho, Hikone-shi, Shiga 522-0047, Japan Tel: +81 749 25 2500 Fax: +81 749 25 2505 Valve Products: Gate Super Inox Corp Address: No 40-5, Dahu Rd, Gueishan Shiang, Taoyuan, Taiwan 333, ROC Tel: +886 3 211 5015 Fax: +886 3 211 5025 Web" w~v.inox.com.tw Managing Director: Steven Chien Production Manager: Paul Chien Marketing Manager: Sandy Wang No of Employees: 24 2003 Sales of Valves: US$3 million Valve Products: Ball, Check, Gate, Globe, Needle Suzhou KF Valve Co Ltd Address: 679 Renmin Rd, Suzhou 215001, China Tel: +86 512 6752 6520 Fax: +86 512 6752 5070

Profile of the International Valve Industry

Parent Company: Circor International Inc/Suzhou Valve Co Ltd JV Valve Products: Ball

Suzhou Valve Co Ltd (SUFA Valves) Address: 679 Renmin Rd, Suzhou 215001, China Tel: +86 512 6753 4719 Fax: +86 512 6753 2707 Web: ~vw.suf)valve.com No of Employees: 1500 Sales: US$35 million Valve Products: Ball, Butterfly, Check, Gate, Globe SVF Flow Controls Inc Address: 13560 Larwin Circle, Santa Fe Spring, CA 90670, USA Tel: +1 562 802 2255 Fax: + 1 562 802 3114 Web: w~v.svf.net Valve Products: Ball, Control, Actuators Swagelok Address: 29500 Solon Rd, Solon, OH 44139, USA Tel: +1 440 349 5934 Fax: +1 440 349 5970 Web: x~,.swagelok.com CEO: Art Anton Valve Products: Ball, Check, Diaphragm, Needle T-3 Energy Services IncCor-Val 103 Venture Bh'd, Houma, LA 70360, USA Tel: +1 504 851 3160 Fax: +1 504 853 0534 Web: w,~,.corval.com Valve Products: Control, Safety

Taimei Kinzoku Kogyo Co Ltd Address: 2-18-12 Soto-Kanda, Chiyoda-ku, Tokyo 101-0021, Japan Tel: +81 3 3255 9931 Fax: +81 3 3255 3589 Valve Products: Ball Taisei Kiko Co Ltd Address: Osaka-Ekimae Daisan Building 27F,1, Umeda 1-chome,

10 Directory of Valve Companies

Kita-ku, Osaka 530-0001, Japan Tel: +81 6 6344 7784 Fax: +81 6 6344 7941 Web: www.taiseikiko.com President: Kazuhiro Atsumi No of Employees: 342 2003 Sales: u billion Valve Products: Gate Takamisawa Valve Co Ltd Address: 2-16-19 TsunashimaNishi, Kohoku-ku, Yokohama 2230053, Japan Tel: +81 45 531 4121 Fax: +81 45 544 1537 Valve Products: Check, Control, Gate, Globe Takaya Seisakusho Co Ltd Address: 1-5-13 Ebara, Shinagawaku, Tokyo 142-0063, Japan Tel: +81 3 3783 0365 Fax: +81 3 3787 7156 Valve Products: Check, Gate, Globe Target Rock Division- CurtissWright Flow Control Corp Address: 1966E Broadhollow Rd, East Farmingdale, NY 11735, USA Tel: + 1 516 293 3800 Fax: + 1 516 293 4949 Director- Engineering: Richard Langseder Parent Company: Curtiss-Wright Corp, USA Valve Products: Check, Pressure Relief, Safety, Solenoid Taylor Valves Ltd Address: Dowker Works, Dowker St, Milnsbridge, Huddersfield HD3 41X, UK Tel: +44 1484 651177 Fax: +44 1484 645854 Web: www.taylorvalves.com Valve Products: Check, Gate, Check, Globe, Safety, Actuators TC Fluid Control- Valves & Steam Division Address: Broadgate, Broadway Business Park, Chadderton, Oldham, Lanes OL9 9XA, UK Tel: +44 161 684 7488

Fax: +44 161 684 7487 Web: www.tc-fluidcontrol.com Managing Director: Eric Buchanan Valve Products: Control, Isolation (Bellows Sealed, Globe, Piston), Pressure Reducing, Safety Relief Technical srl Address: Via Toscana 9, 20060 Vignate (MI), Italy Tel: +39 02 9593991 Fax: +39 02 9560273 Web: w~av.technical.it Valve Products: Check, Gate, Relief, Safety, Specials, Actuators Tehaco Sp Zoo Address" Nowy Swiat 4, 80-299 Gdarlsk, Poland Tel: +48 58 5527228 Fax: +48 58 5527228 Web: www.tehaco.com.pl Managing Director: M Hladki Production Manager: P Jacewicz Marketing Manager: A Cwiejowska Manufacturing Plant Area: 2000 sq m Quality Assurance Certification: ISO 9001:2000 Certifying Body: PRS Valve Products: Ball, Butterfly, Gate, Actuators Teknocralt Inc Address: 425 West Drive, Melbourne, FL 32904, USA Tel: + 1 321 729 9634 Fax: +1 321 768 8732 Web: www.teknocraft.com Manufacturing Plant Area: 62 000 sq ft Valve Products: Solenoid Tescom Europe GmbH & Co KG Address: An der Trave 23-25, D23923 Selmsdorf, Germany Tel: +49 38823 310 Fax: +49 38823 31 199 Web: ~~:tescom-europe.com No of Employees: 80 2003 Sales: (~15 million Parent Company: Tescom Corp, USA Valve Products: Control, Diaphragm, Needle, Actuators

Thermal Valve Manufacturers (Pry) Ltd Address: 1378 Sharland St, Driehoek, Germiston, South Africa Tel: +27 11 873 9483 Fax: +27 11 873 8855 Managing Director: S Pilloy Production Manager: P Manichum Marketing Manager: B Thulsie No of Employees: 6 2003 Sales of Valves: US$3 million Manufacturing Plant Area: 600 sq m Valve Products: Ball, Butterfly, Check, Control, Diaphragm, Gate, Globe, Pressure, Actuators

Thermomess srl Address: Via Eugenio Montale 6, 20020 Robecchetto con Induno (MI), Italy Tel: +39 0331 875697 Fax: +39 0331 875297 Web: www.thermomess.com Managing Director: Angelo Ferrario Marketing Manager: Daniele Boezio No of Employees: 15 2003 Sales: (~3.5 million Valve Products: Ball, Globe, Needle including Cryogenic Therm-Omega-Tech Address: 353 lvyland Rd, Warminster, PA 18974-2205, USA Tel: +1 800 288 4878 Fax: + 1 215 674 8594 Web: x~v.thermomegatech.com Marketing Manager: Chris Ashworth No of Employees: 32 Quality Assurance Certification: ISO 9001 Valve Products: Control, Globe, Diaphragm, Needle, Plug, Actuators Three Industry Co Ltd Address" 4-3-15 Kujyominami, Nishi-ku, Osaka, Japan Tel: +81 6 6583 3888 Fax: +81 6 6583 3223 Web: www.three-mmm.co.jp Valve Products: Needle

Profile of t'he International Valve Industry 229

10 Directory of Valve Companies

TIX Corp- IKS Division Address: 5-6-21 Kitashinagawa, Shinagawa-ku, Tokyo 141-0001, Japan Tel: +81 3 3495 7961 Fax: +81 3 3495 7960 Web" www.tix.co.jp Valve Products: Bell, Gate TLV Co Ltd Address: 881 Nagasuna, Noguchicho, Kakogawa-shi, Hyogo 675-8511, Japan Tel: +81 794 27 1818 Fax: +81 794 25 1167 Web: ww.tlv.com President: Yoshiyasu Fujiwara Valve Products: Ball, Control

Toa Valve Co Ltd Address: 5-12-1 NishiTachibanacho, Amagasaki-shi, Hyogo 660-0054, Japan Tel: +81 6 6416 8865 Fax: +81 6 6419 5641 Web: w~'.toavalve.co.jp President: Atsushi Sasaki Manufacturing Plant Area: 18 800 sq m No of Employees: 210 2003 Sales: u million Valve Products: Check, Conu'ol, Gate, Globe, Needle, Safety

Toa Valve Industrial Co Ltd Address: 2-5-23 Higashi-lmazato, Higashinari-ku, Osaka 537-0011, Japan Tel: +81 6 6976 0051 Fax: +81 6 6976 0055 President: Iwao Takahashi Valve Products: Ball, Check, Gate, Globe Toko Valex Co Ltd Address: 4-2-17 Matsushima, Edogawa-ku, Tokyo 132-0031, Japan Tel: +81 3 3655 5161 Fax: +81 3 3655 6769 Web: www.toko-valex.co.jp Additional Factory: 93-239 Sainokami, Taki, Tono-machi, Iwaki-City, Fukushima 972-0162, Japan (Tel: +81 246 89 3326) President: lwao Yokoyama

230

No of Employees: 62 2002 Sales: '/852 million Valve Products: Control

Tokyo Danreiki Mfg Co Ltd Address: Sumitomo Seimei Oimachi Building, 1-49-15 Oi Shinagawa-ku, Tokyo 140-0014, Japan Tel: +81 3 3776 0111 Fax: +81 3 3776 0116 Valve Products: Check, Diaphragm Tomoe Europe Address: Estuary Rd, Queensway Meadows Industrial Estate, Newport, Gwent NP 19 4SP, UK Tel: +44 1633 636800 Fax: +44 1633 636801 Web: www.tomoeeurope.com Production: Tomoe Tritec Ltd, Cleanwater Rd, Queensway Meadows Industrial Estate, Newport, Gwent NP9 0SD, UK (Tel: +44 1633 292601 ) Managing Director: Martin Wells No of Employees: 50 Sales: s million (2003) Parent Company: Tomoe Valve Co Ltd, Japan Valve Products: Butterfly Tomoe Valve Co Ltd Address: 11 th Floor, Mitsui Building, 11-7 1-chome, Utsubo Hommachi, Nishi-ku, Osaka 5500004, Japan Tel: +81 6 6448 4320 Fax: +81 6 6448 4330 Web: www.tomoe.co.jp Managing Director: Takeshi Yamamoto Production Manager: K leki Marketing Manager: Yuki Fujioka No of Employees: 240 2003 Sales of Valves: US$73 million Manuthcturing Plant Area: 21 000 sq m Quality Assurance Certification: ISO 9001 Certifi/ing Body: JIC/RVA Valve Products: Butterfly, Actuators

Profile of the International Valve Industry

Tormene Gas Technology SpA Address: Via Campolungo 97, 35020 Due Carrare (PD), Italy Tel: +39 049 9199611 Fax: +39 049 9125455 Web' w~v.tormene.it No of Employees: 169 2002 Sales: C20.8 million Parent Company: Valvitalia Group, Italy Valve Products: Ball, Cryogenic Tour & Andersson Hydronics AB Address: SE-524 80 Ljung, Sweden Tel: +46 513 540 00 Fax: +46 513 508 44 Web: ~w~:tahydronics.com Townley Manufacturing Co Inc Address: 10551 SE 110th St Rd, Candler, FL 32111, USA Tel: +1 352 687 3001 Fax: + 1 352 687 1862 President: JO Townley Jr Valve Products: Butterfly, Gate, Pinch, Actuators Toyo Valve Co Ltd Address: 1-5-7 NihonbashiMuromachi, Chuo-ku, Tokyo 1030022, Japan Tel: +81 3 3242 3320 Fax: +81 3 3242 3295 Web: w~v. toyovalve.co.jp President: Hideki Ozawa No of Employees: 380 Sales: u 000 million Parent Company: Kitz Corp, Japan Valve Products: Ball, Butterfly, Check, Gate, Globe, Pinch, Actuators Trinity Industries Inc Address: Ladish Division, Cynthiana, KY 41031, USA Tel: +1 606 234 1100 Fax: +1 606 235 0834 VP Sales & Marketing: John Reidy Valve Products: Check, Gate, Globe

10 Directory of Valve Companies

Tr6ger +Entenmann Hydromaten KG GmbH + Co Address: Wieblinger Weg 128, D69123 Heidelberg, Germany Tel: +49 6221 8 25 0 Fax: +49 6221 8 25 1 82 Valve Products: Butterfly FCX Truflo Rona Address: Pare Industriel des Hauts Sarts, 4040 Herstal, Belgium Tel: +32 4240 68 86 Fax: +32 4248 02 46 Web: www.fcx-truflo-rona.cm Managing Director: Francis Carpio Production Manager: Pierre Francois Marketing Manager: Trevor Fairhurst No of Employees: 70 2003 Sales of Valves: US$7.9 million Manufacturing Plant Area: 3900 sq m Quality Assurance Certification: ISO 9001:2000 Certifying Body: Lloyd's Register Parent Company: FCX International pie, UK Valve Products: Bail, Butterfly, Check, Gate, Globe Tru-Tech Industries Address: PO Box 838, Clay Avenue Extension, Mars, PA 10646, USA Tel: +l 724 625 2955 Fax: +1 724 625 3553 Web: www.tru-tech.net Valve Products: Diaphragm, Actuators Tubi Ghisa SpA Address: Via L Allegro 1, 16016 Cogoleto (GE), Italy Tel: +39 010 91711 Fax: +39 010 9171400 Tuchenhagen GmbH Address: Am Industriepark 2-10, D-21514 Biichen, Germany Tel: +49 4155 492402 Fax: +49 4155 492428 Web: www.tuchenhagen.de Managing Director: Franz Buermann

Production Manager: Brar Johannsen Marketing Manager: Juergen Heuke No of Employees: 300 Quality Assurance Certification: ISO 9001, ISO 14001 Certifying Body: Germanischer Lloyd Parent Company: GEA AG, Germany Valve Products: Butterfly, Control, Mixproof Plug, Actuators Tulaelectroprivod JSC Address: 1 Plechanovo Settlement, Tula 301114, Russia Tel: +7 872 776710 Fax: +7 872 776747/773193 Valve Products: Actuators Gebr Tuxhorn GmbH & Co KG Address: Westfalenstrasse 36, D33647 Bielefeld, Germany Tel: +49 521 44 80 80 Fax: +49 521 4 48 08 44 Web: www.tuxhorn.de No of Employees: 62 2002 Sales: E9.8 million Valve Products: Ball, Check, Gate, Safety TV Valve Co Ltd Address: 4-33-80mori-Higashi, Ota-ku, Tokyo 143-0012, Japan Tel: +81 3 3763 4311 Fax: +81 3 3763 4317 Web: www.tv-valve.com No of"Employees: 34 2003 Sales: u million Valve Products: Control

Tyazhpromarmatura JSC Address: 60 Nekrasova Str, Aleksin, Tulsky Region 301368, Russia Tel: +7 8753 46071/26113 Fax: +7 8753 26116 Web: wx~v aztpa.ru Valve Products: Ball, Gate, Actuators Tyco Flow Control Asia Pte Ltd Anderson Greenwood/Crosby Division Address: 45 Tuas Avenue 9, Singapore 639189

Tel: +65 861 1655 Fax: +65 861 6997 Parent Company: Tyco International, USA

Tyco Flow Control - Hovap Address: ProfZernikestraat 8, 8606 JV Sneek, The Netherlands Tel: +31 515 428900 Fax: +31 515 420441 Web: www,tyco-valves.com Managing Director: J Duremsma Sales & Marketing Manager: B Westerman No of Employees: 100+ 2003 Sales of Valves: US$15 million Quality Assurance Certification: ISO 9001:2000 Certifying Body: LRQA Parent Company: Tyco International, USA Valve Products: Ball, Butterfly, Check, Control, Actuators Tyco Sanmar Ltd Address: 88/IB Vadugapatti Village, Viralimalai 621 316, India Tel: +91 4339 220013 Fax: +91 4339 220370 Web: w~.sanmargroup.com Parent Company: Tyco International Ltd/The Sanmar Group JV Valve Products: Pressure Relief Tyco Valves & Controls Address: 9700 West Gulf Bank Rd, Houston, TX 77240, USA Tel: +l 713 466 1176 Fax: +l 713 937 5466 Parent Company: Tyco International, USA Valve Products: Ball, Butterfly, Check, Control, Gate, Globe, Needle, Plug, Actuators

Ufimsky Instrument Engineering Plant Address: 50 years of USSR Str 30, Ufh, Bashkortostan 450071, Russia Tel: +7 3472 327758 Fax: +7 3472 321076/328656 Web: w~v.aviapribor.ru/ companies/uppo_r.htm Valve Products: Actuators

Profile of the International Valve Industry 231

10 Directory of Valve Companies

Uhde Hochdrucktechnik GmbH Address: Buschmfihlenstrasse 20, D-58093 Hagen, Germany Tel: +49 2331 9 67 0 Fax: +49 2331 9 67 3 70 Web: www.uhde-udt.com Directors: J6rg-Peter Korner, Dr Christoph Lfitge No of Employees: 200 Parent Company: ThyssenKa'upp Sales: E35 million Valve Products: Check, Control, Globe, Safi:ty UNI-Geriite E Mangelmann Elektrotechnische Fabrik GmbH Address: Holtumsweg 13, D47652 Weeze, Germany Tel: +49 2837 913420 Fax: +49 2837 1444 Web: www.uni-geraete.de Managing Directors: Angela Klaus & Norbert Schneider Production Manager: Heinz Derksen Markering Manager: Angela Klaus No of Employees: 58 2003 Sales of Valves: US$5 million Manuf~acturing Plant Area: 2000 sq m Quality Assurance Certification: ISO 9001, PED, GAD, ATEX Certit~,ing Body: Bureau Veritas, DVGW, PTB Valve Products: Butterfly, Control, Globe, Needle, Actuators

Fax: +1530 885 8117 Web: wv,wr usparaplate.com Parent Company: Circor International Inc, USA Valve Products: Ball, Check, Metering, Solenoid Ust-Kamenogorsky Valve Plant JSC Address: Novaya Gavan 6, UstICamenogorsk 492006, Kazakhstan Tel: +7 3232 230483 Fax: +7 3232 230585 Web: http://ngm.ustk.kz Valve Products: Butterfly, Check, Gate Utsue Valve Co Ltd Address: 2-1-13 Kitamura, Taishoku, Osaka 551-0032, Japan Tel: +81 6 6552 3161 Fax: +81 6 6551 3245 Web: w~a~',utsue-valve.co.jp President: Tetsuo Watanabe Factory Locations: Tanoura, Takahama-cho, Oi-gun, Fukui 919-2362, Japan (Tel: +81 770 76 1716); 3-1 Komaruyama, Aoyamacho, Kashiwazaki-shi, Niigata 9450321, Japan (Tel: +81 257 45 5106) No of Employees: 125 2003 Sales: u million Valve Products: Check, Control, Diaphgram, Gate, Globe, Needle

United Valve Co SA Pty Ltd Address: 44 Harry St, Robertsham, Johannesburg, South Afi'ica Tel: +27 11 4332999 Fax: +27 11 4339107 Production Manager: Dup De Wet Quality Assurance Certification: SABS Parent Company: Ainsworth Engineering Premier Valves Valve Products: Butterfl); Check, Control, Gate, Pressure

VAG-Armaturen GmbH Address: Carl-Reuther-Strasse 1, D-68305 Mannheim, Germany Tel: +49 621 749 0 Fax: +49 621 749 2153 Web: x~av.vag-armaturen.com Directors: Dipl-Ing Markus Ehl ( Production); Dipl-Wirtsch-I ng Robert Fellner-Feldegg (Sales) No of Employees: 650 Sales: E90 million Parent Company: Bopp & Reuther Group ( IWKA AG) Valve Products: Butterfly, Ball, Control. Gate, Non-Return

US Para Plate Corp Address: 12810 Earhart Avenue, Auburn, CA 95602, USA Tel: +1 530 885 8187

Valbia Srl Address: Via A Canossi 31, PO Box 4, 25060 Brozzo (BS), Italy Tel: +39 030 89 69 411

232

Profile of the International Valve Industry

Fax: +39 030 86 l 0 014 Web" x~wv.valbia.it No of Employees: 25 2002 Sales: E7.5 million Parent Company: Bonomi Group, Italy Valve Products: Actuators Valcor Engineering CorpValcor Nuclear Address: 2 Lawrence Rd, Springfield, NJ 07081, USA Tel'+l 973 467 8400 Fax: +1 973 467 8382 Web: w~wv.valcor.com Business Unit Manager: Dana Shave Valve Products: Check, Gate, Globe, Needle, Solenoid Valmate Industrial Corp Address: 9F-8, No 6, Lane 256, Sec 2, His-Tun Rd, Taichung, Taiwan ROC Tel: +886 4 27081468 Fax: +886 4 27026242 Web: www.valmate.com Managing Director: Jason Fan Production Manager: Gary Fan /vlarketing Manager: Sharon Chang No of"Employees: 250+ Manul?~cturing Plant Area: 175 000 sq ft Quality Assurance Certification: ISO 9001-2000 TRD- 100 Valve Products: Ball, Butterfly, Check, Gate, Globe, Needle, Actuators VaI-Matic Valve & Manufacturing Corp Address: 905 Riverside Drive, Elmhurst, IL 60126, USA Tel: + 1 630 941 7600 Fax: +1 630 941 8042 Web: www.valmatic.com Director of Marketing: Phillip Landon Valve Products: Butterfly, Check, Plug Valpes Address: ZI Centr'AIp, 89 rue des Etangs, F-38430 Moirans, France Tel: +33 476 35 06 06 p

10 Directory of Valve Companies

Fax: +33 476 35 14 34 Web: www.valpes.com No of Employees: 33 2003 Sales of Valves: US$4.5 million Manufacturing Plant Area: 1500 sq m Quality Assurance Certification: ISO 90O 1 ATEX Certifying Body: ATEX 61864 Valve Products: Actuators Valpres Srl Address: Via A Gitti 11, PO Box 40, 25060 Marcheno VT (BS), Italy Tel: +39 030 89 69 311 Fax: +39 030 89 60 239 Web: www.valpres.it; www.bonomi.it No of Employees: 81 2002 Sales: (~10.5 million Parent Company: Bonomi Group, Italy Valve Products: Ball, Butterfly Value Valves Co Ltd Address: 9 Chung-Shan Rd, TuCheng Industrial Park, 236 Taipei Hsien, Taiwan Tel: +886 2 22698000 Fax: +886 2 22686600 Web: www.valuevalves.com Managing Director: Jason Chen No of Employees: 110 2003 Sales of Valves: US$15.6 million Quality Assurance Certification: ISO 9001, Ped-91/23/EC Certifying Body: TUV Valve Products: Butterfly, Check, Control, Actuators Valv AG Address: Alte Rheinstrasse, CH9451 Kriessern, Switzerland Tel: +41 71 757 59 59 Fax: +41 71 757 59 60 Web: www.valv.ch No of Employees: 25 Valve Products: Diaphragm

Valvcon Corp Address: PO Box 901,528 Route 13 South, Milford, NH 03055, USA

Tel: +1 603 249 9020 Fax: + 1 603 294 9140 Web: www.valvcon.com CEO: William Jandl Production Manager: L White VP Sales: Mike Casey Parent Company: Metso Automation, Finland Valve Products: Actuators Valves & Flanges Plant JSC Address: 77 Central Str, Omsk 644036, Russia Tel: +7 3812 373243/373238/550060 Fax: +7 3812 555272 Web: www af~omsk.ru Valve Products: Gate Valve-Tek Manufacturing Co Lid Address: 105 Cheng Kuang St, Taiping, Taichung, Taiwan Tel: +886 4 22312299 Fax: +886 4 22313399 Web: w~av.valve-tek.com.tw Managing Director: Jack Shih Production Manager: Bill Shih No of Employees: 105 2003 Sales of Valves: US$20 million Manufacturing Plant Area: 9200 sq m No of Employees: 90 Quality Assurance Certification: ISO 9001 Certififing Body: TUV Valve Products: Ball, Check, Gate, Globe Valvitalia SpA Address: Via Tortona 69, 27055 Rivanazzano (PV), Italy Tel: +39 0383 945 911 Fax: +39 0383 945 962 Web: ww~:valvitalia.com Managing Director: Giovanni Scovenna Production Manager: Massimiliano Ruggstri Marketing Manager: Marika Gentile No of Employees: 300 2003 Sales of Valves: US$108 million Manufacturing Plant Area: 75 000 sq m Parent Company: Tormene Vitas

Valve Products: Ball, Butterfly, Check, Control, Gas Metering, Gate, Globe, Plug, Actuators VALV Membranventiltechnik AG Address: Alte Rheinstrasse 29, CH-9451 Kriessern, Switzerland Tel: +41 71 757 59 59 Fax: +41 71 757 59 00 Web: ~vw.valv.ch Production Manager: Reinhard Schreiner Marketing Manager: Reinhard Schreiner No of Employees: 14 2003 Sales of Valves: US$2.4 million Manufacturing Plant Area: 450 sq m Quality Assurance Certification: ISO 9001:2000 Certifying Body: SWISO Parent Company: Tapmatic International Corp Valve Products: Diaphragm Valvoindustria Ing Rizzio (VIR) Address: Via Circonvallazione l 0, 13018 Valduggia (VC), Italy Tel: +39 0163 47891 Fax: +39 0163 47895 Web: www.moredata.it/anima/vir Valve Products: Ball, Gate, Globe Valvole Hofmann by Bonino Engineering srl Address: Via Muzzano 3 l, 13897 Occhieppo Inferiore (Biella), Italy Tel: +39 015 2593403 Fax: +39 015 2593844 Web: www.valvolehofman n.com Valve Products: Control, Pneumatic On-Off VALVOmetal Unit of Sitindustrie International srl Address: Via per Orlonghetto 3, 13018 Valduggia (VC), Italy Tel: +39 0163 4361 Fax: +39 0163 48113 Web: www.sitindustrie.com Parent Compeny: Sitindustrie Group Valve Products: Check, Gate, Globe

Profile of the International Valve Industry 233

10 Directory of Valve Companies

Valvtechnologies Inc Address: 5904 Bingle Rd, Houston, TX 77092, USA Tel: + 1 713 860 0400 Fax: +1 713 860 0499 Web: www.valv.com Managing Director" Kevin Hunt Production Manager: Nat Mule Marketing Manager: Alison Crowley No of"Employees: 138 2003 Sales of Valves: US$25 million Manufacturing Plant Area: 25 sq m Quality Assurance Certification: ISO 9001, ATEX, API 6A & 6D Valve Products: Ball, Check, Control, Cryogenic, Gate, Pressure, Actuators Valv-Trol Address: 1340 Commerce Drive, Stow, OH 44224-1000, USA Tel: +1 330 686 2800 Fax: +1 330 686 2820 Web: www.valv-trol.com President: Kenneth Ingram Valve Products: Check, Control, Safety Valvulas Address: Pol Santalices B-2, E48550 Muskiz, Spain Tel: +34 94 480 16 42 Fax: +34 94 480 23 85 Web: www.valvulasvs.com No of Employees: 10 2003 Sales of Valves: C2 million Quality Assurance Certification: ISO 9001-2000 CE Mark Certifying Body: Lloyd's Register Valve Products: Check, Bottom Tank, Diaphragm, Gate, Globe Valvulas Worcester DE Argentina SA Address: Osvaldo Cruz 3333, C 1293ADL Buenos Aires, Argentina Tel: +54 11 4303 0037 Fax: +54 11 4301 8694 Web: ~vw.worcester.com.ar Managing Director: Pablo A Reim Production Manager: Roberto Prado Marketing Manager: Oscar Perazzo

234

Manufacturing Plant Area: 12 000 sq m Quality Assurance Certification: ISO 9001 Valve Products: Ball, Actuators Valvulas y Derivados SA Address: Industrialdea Sector $3, Pabell6n 167D, 20159 Asteasu, Spain Tel: +34 943 696 009 Fax: +34 943 696 167 Web: www.vade.es No of Employees: 21 2002 Sales: (~3.3 million Valve Products: Butterfly, Check, Gate Vanatome Address: ZI de la Brassiere, Chemin de la Buissonnee, F26240 Saint Vallier, France Tel: +33 4 75 23 67 00 Fax: +33 4 75 23 67 12 Web: s~vw.vanatome.com 2002 Sales" C9.5 million Valve Products: Ball, Butterfly, Check, Control, Gate, Globe, Needle, Plug, Pressure Vanessa (Tyco Valves & Controls Italia srl) Address: Via Piacenza, 29018 Lugagnano val d'Arda (PC), Italy Tel: +39 0523 890 201 Fax: +39 0523 890 290 Web: ~a~av.vanessavalves.it Manutb.cturing Plant Area: 11 500 sq m Parent Company: Tyco International, USA Valve Products: Rotary Process

Vannes Lefebvre Address: ave de Lassus, BP 45, 59481 Haubourdin Cedex, France Tel: +33 3 20 17 51 00 Fax: +33 3 20 17 51 01 Web: www.leti~bvre,fr Managing Director: P Pennel No of Employees: 8 2002 Sales: C1.6 million Manut~cturing Plant Area: 5000 sq m Valve Products: Butterfly, Check, Diaphragm, Actuators

Profile of the International Valve Industry

Varimex-Valves Co Ltd Address: u| Radna 6/8, 00-341 Warszawa, Poland Tel: +48 22 828 15 31 Fax: +48 22 828 15 32 Web: www.varimex-valves.pl Managing Director: B Trojanowska Marketing Manager: E Rojek No of Employees: 12 2003 Sales of Valves: US$6.3 million Quality Assurance Certification: ISO 9001 Certifying Body: DEVRA Valve Products: Ball, Butterfly, Check, Control, Diaphragm, Flap, Gate, Globe, Needle, Pinch, Pressure, SafEt); Actuators Velan Inc Address: 7007 C6te de Liesse, Montreal, Quebec H4T 1G2, Canada Tel: + 1 514 748 7743 Fax: + 1 514 748 8635 Web: w~w.velan.com Managing Director: Tom Velan Production Manager: George Zarifah Marketing Manager: Gil Perez No of Employees: 1450 2003 Sales of Valves: US$200 million Manufacturing Plant Area: 108 000 sq m Quality Assurance Certification" ISO 9001-2000 PED Certifying Body: Bureau Veritas Valve Products: Ball, Butterfly, Check, Gate, Globe, Pressure Velan SAS Address: 90 rue Challemel Lacour, F-69367 Lyon Cedex 7, France Tel: +33 4 78 61 67 00 Fax: +33 4 78 72 12 18 Web: www.velan.ff Managng Director: Jean Claude Cennac Marketing Manager: Michel Monier No of Employees: 170 2003 Sales: US$30 million Manufacturing Plant Area: 15 000 sq m

10 Directory of Valve Companies

Quality Assurance Certification: ISO 9001-2000 Certifying Body: LRQA Parent Company: Velan Inc, Canada Valve Products: Butterfly, Check, Control, Cryogenic, Gate, Globe, Nuclear, Actuators

Velan srl Address: Via delle Industrie 9/5, 20050 Mezzago (MI), Italy Tel: +39 039 624111 Fax: +39 039 6883357 Web: www.velan.com Managing Director: Roberto Bartolena Production Manager: Paolo Palella Marketing Manager: Claudio Conti Manufacturing Plant Area: 3700 sq m Quality Assurance Certification" ISO 9001:2000 Certifying Body: Lloyd's Register Parent Company: Velan Inc, Canada Valve Products: Ball Velan Valve Corp Address: 94 Avenue C, Williston, VT 05495-9732, USA Tel: +1 802 863 2562 Fax: + 1 802 862 4014 Web: www.velan.com Parent Company: Velan Inc, Canada Valve Products: Ball, Check, Gate, Globe Velan Valves Ltd Address: Unit 1, Lakeside Business Park, Pinfold Rd, Thurmaston, Leicester LE4 8AS, UK Tel: +44 116 269 5172 Fax: +44 113 269 3695 Web: www.velan.co.uk No of Employees: 26 2003 Sales: s million Manufacturing Plant Area: 1300 sq m Parent Company: Velan Inc, Canada Valve Products: Globe

Velan Vdlvulas Industriais Lda Address: Av Ary dos Santos, 1679018 Famoes, Portugal Tel: +351 21 934 7800 Fax: +351 21 934 7809 Web: www.velan.com 2002 Sales: ~6.7 million Parent Company: Velan Inc, Canada Valve Products: Check, Gate, Globe Velan-Velac Address: PO Box 2020, Taichung, Taiwan ROC Tel: +886 4 279 2649 Fax: +886 4 275 0855 Web: www.velan.com Manufacturing Plant Area: 1840 sq m Parent Company: Velan Inc, Canada Valve Products: Ball Velan Ltd Address: 1060-4 ShingiI-Dong, Ansan City, Kyunggi-Do 425-833, South Korea Tel: +82 31 491 2811 Fax: +82 31 491 2813 Web: xw~v.velan.com Parent Company: Velan Inc, Canada Valve Products: Ball, Check, Gate, Globe, Knife Venn Co Ltd Address: 2-2-13 Tamagawa, Otaku, Tokyo 146-0095, Japan Tel: +81 3 3759 0170 Fax: +81 3 3759 1414 Web: x~vw.venn.co.jp Valve Products: Check Victaulic Co Address: PO Box 31,4901 Kesslersville Rd, Easton, PA 18044-0031, USA Tel: + 1 610 559 3300 Fax: +1 610 250 8817 Web: w~av.victaulic.com Valve Factory: Bristol, TN, USA President: JM Trachtenberg Valve Market Manager: RB Hal Valve Products: Ball, Butterfly, Check, Plug

Viega - Franz Viegener II GmbH & Co KG Address: Ennester Weg 9, D57439 Attendorn, Germany Tel: +49 2722 61 0 Fax: +49 2722 61 14 15 Web: www.viega.de Valve Products: Ball, Control, Globe Vinco Vdlvulas SA Address: Rua Do Progresso, Vilarinho Caribas, Lotes 15-16, VN Famalicao, Portugal Tel: +351 252303210 Fax: +351 252303219 Web: www.vinco-valvulas.pt Managing Director: Aijilcar Neiva Production Manager: E Azevedo Marketing Manager: C Magalhaes No of Employees: 45 2003 Sales of Valves: US$2.5 million Manufacturing Plant Area: 3000 sq m Quality Assurance Certification: ISO 9001 Valve Products: Ball

Virgo Engineers Ltd Address: J-517, MIDC Industrial Area, Bhosari, Pune 411 026, India Tel: +91 20 7474481 Fax: +91 20 7470772 Web" www.virgoengineers.com Valve Products: Ball, Butterfly, Actuators Suzhou Viza Valve Co Ltd Address: 20D Kings Tower No 12, 16 Shishan Rd, Suzhou 215011, China Tel: +86 512 67015219 Fax: +86 512 68081920 Web: www.vizavalve.com Marketing Manager: Blaine Wang No of Employees: 90 2003 Sales of Valves US$5 million Manufacturing Plant Area: 6000 sq m Quality Assurance Certification: ISO 9001 Certifying Body: TUV Valve Products: Ball, Butterfly, Check, Gate, Globe

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10 Directory of Valve Companies

MiJnchen-Leipziger Apparatebau Eberhard Voigt GmbH Address: Karl-Heine-Strasse 85-93, D-04229 Leipzig, Germany Tel: +49 341 59 62 5 Fax: +49 341 59 62 6 66 Web: www.voigt-gmbh.de Von Rohr Armaturen AG Address: Fichtenhagstrasse 4, CH4132 Muttenz 2, Switzerland Tel: +41 61 461 48 48 Fax: +41 61 461 18 27 Web: www.von-rohr.ch No of Employees: 25 2003 Sales: SFr7 million Parent Company: ARCA-Regler GmbH, Germany Valve Products: Control Vosa- a division of Dorbyi Address: 32 Lincoln Rd, Benoni South 1501, South Afi'ica Tel: +27 11 845 1060 Fax: +27 11 421 2749 Sales/Marketing Manager: Len Visser Parent Company: Dorbyl Ltd, South Afi'ica V TEX Corp Address: Taniguchi Building, 628-11 Minami-ohi, Shinagawa-ku, Tokyo 140-0013, Japan Tel: +81 3 3765 4161 Fax: +81 3 3765 4168 Web: www.vtex.co.jp Factory: 1263 Tarasaki, Hitachinaka City, Ibaraki Pref 312003, Japan (Tel: +81 29 285 0601) President: Yukio Takeuchi No of Employees: 140 Valve Products: Check, Gate, Globe, Safety VYC Industrial SA Address: Transversal 179, E-08225 Terrassa (Barcelona), Spain Tel: +34 93 735 7690 Fax: +34 93 735 81 35 Web: w~v.x~,cind ustrial.com No of Employees: 60 Valve Products: Check, Control, Needle, Pressure, Safety

236

Warex Valve GmbH Address: Stauverbrink 2, D-48308 Senden, Germany Tel: +49 2536 99 58 11 Fax: +49 2536 99 58 29 Web: ~wcw.warex-valve.com Managing Director: Mr SchneiderOberbeck Production Manager: Mr Reusch Marketing Manager: Mr Schneider-Oberbeck No of Employees: 20 Manuf~acturing Plant fia'ea: 10 000 sq m Quality Assurance Certification: EN ISO 9001/ATEX/9723-PED Certifying Body: DNV/EXAM/Dekra Valve Products: Ball, Butterfly, Pinch, Actuators Warren Controls Corp Address: 2600 Emrick Blvd, Bethlehem, PA 18020-8010, USA Tel: + 1 610 317 0800 Fax: +1 610 317 2989 Web: ~vw.warrencontrols.com President/COO: Dale Stepanek Valve Products: Control, Actuators Warren-Morrison Valves Ltd Address: Peel St, Northam, Southampton SO14 5QS, UK Tel: +44 2380 223752 Fax: +44 2380 223110 Web: w~v.wmvah'es.com Valve Products: Diaphragm, Pinch, Pressure Relief Watts Eurotherm Address: 13 rue JJ Rousseau, 80390 Fressenneville, France Tel: +33 3 22 60 39 80 Fax: +33 3 22 60 39 89 Web: x~,w.wattseurotherm.fi" No of Employees: 148 2002 Sales: E30 million Valve Products: Safety Weir Valves & Controls Inc (exAtwood & Morrill) Address: 285 Canal St, Salem, MA 01970, USA Tel: +1 978 744 5690 Fax: +1 978 741 3626 Web: www.weirvalve.com

Profile of the International Valve Industry

Parent Company: Weir Group pie, UK Valve Products: Butterfly, Check, Control, Gate, Globe, Safi~ty Weir Valves & Controls UK Ltd (ex-Hopkinsons Ltd) Address: Britannia Works, Birkby, Huddersfield, West Yorkshire HD2 2UR, UK Tel: +44 1484 820820 Fax: +44 1484 820484 Web: w~v.weirvalve.com Parent Company: The Weir Group pie, UK Valve Products: Ball, Butterfly, Check, Choke, Gate, Globe, Safety Weir Valves & Controls SEBIM SAS Address: ZI La Palunette, Chateauneuf Les Martigues, Bouches du Rh6ne 13220, France Tel: +33 4 42 07 00 95 Fax: +33 4 42 07 11 77 Web: www.weir-valve.com Managing Director: Andre Gemignani Parent Company: The Weir Group pie, UK Valve Products: Safi:ty Weir Valves & Controls France SAS Address: ZI Du Bois Rigault, Rue Jean Baptiste Grison, Vendin Le Vieil 62880, France Tel: +33 3 21 79 54 50 Fax: +33 3 21 28 62 00 Web: www.weirvalve.com Parent Company: The Weir Group pie, UK Valve Products: Safety Welland & Tuxhorn AG Armaturen- und Maschinenfabrik Address: Gfitersloher Strasse 257, D-33649 Bielef~ld, Germany Tel: +49 521 9418 0 Fax: +49 521 94 18 170 Web: www'welland-tuxh~ No of Employees: 140 2003 Sales: E175 million Valve Products: Globe, Special Control

10 Directory of Valve Companies Westad Industri AS Address: Heggenveien, N-3360 Geithus, Norway Tel: +47 32 78 95 00 Fax: +47 32 78 95 10 Web: www.westad.com Managing Director: Aart Schenau Vice President Marketing & Sales: Per Gunnar Ronningen No of Employees: 80 2002 Sales: NKrI84 million Parent Company: Crane Co, USA Valve Products: Ball, Butterfly WEY Valve Inc Address: North Hwy 6, Nettleton, MS 38858, USA Tel: + 1 601 963 2020 Fax: +1 601 963 2025 Web: www.weyvalve.com President: Don Trott Manufacturing Plant Area: 20 000 sq ft Parent Company: Sistag Absperrtechnik, Switzerland Valve Products: Butterfly, Gate, Actuators Whessoe Varec Address: 10900 Valley View St, Cypress, CA 90630, USA Tel: + 1 714 761 1300 Fax: +1 714 952 2701 Valve Products: Pressure Charles Winn (Valves) Ltd Address: 70 Warwick St, Birmingham B12 0NL, UK Tel: +44 121 772 6981 Fax: +44 121 773 0825 Parent Company: Tyco International Ltd, USA Web: www.winnvalves.co.uk WOCO Franz Josef Wolf & Co Address: Hanauer Landstrasse 16, D-63628 Bad Soden-Salmiinster, Germany Tel: +49 6056 78 0 Fax: +49 6056 78 2 12 Web: ~avw.woco.de Valve Products: Butterfly, Gate WT Armatur GmbH Address: lndustriestrasse 5, D67133 Maxdorf, Germany

Tel: +49 6237 92 80 0 Fax: +49 6237 92 80 50 Web: www.wt-armatur.de Valve Products: Check, Control, Globe Wyeco Auto Valves Co Ltd Address: 4F, No 98, Section 3, Chien Kuo North Rd, Taipei, Taiwan Tel: +886 2 2502 5166 Fax: +886 2 2501 2863 Web: www.wyeco.com.tw Factory: No 6, Lane 2, Shanlin Rd, Sec 3, Luchu Hsiang, Taoyuan Hsien, Taiwan (Tel: +886 3 3245116/7) Valve Products: Ball, Butterfly, Control, Cylinder, Diaphragm, Actuators Xiamen Jia Da Quan Valves & Fittings Co Ltd Address: 6G, No 32 Liahua Square, Xiamen 361009, China Tel: +86 592 552 7803 Fax: +86 592 551 8127 Web: w~v.china-valve- fitting.com Valve Products: Ball, Butterfly, Check, Control, Gate, Globe, Plug, Pressure Relief, Sa|i:ty Xiamen Landee Industries Co Ltd Address: Suite 2201, Huiteng Metroplis, No 321 Jiahe Rd, Xiamen, China Tel: +86 592 520 4188 Fax: +86 592 520 4189 Web: ww~:landee.cn Valve Products: Ball, Butterfly, Check, Gate, Globe, Plug Xiamen Wecan Valve Co Ltd Address: Suite 2103, Huiteng Metropolis, No 321 Jiahe Rd, Xiamen, China Tel: +86 592 536 7223 Fax: +86 592 536 7220 Web: ww~:wecanvalve.com Managing Director: Lester Wang No of Employees: 20 2003 Sales of Valves: US$6.5 million Quality Assurance Certification: ISO 9001:2000

Valve Products: Ball, Butterfly, Check, Control, Diaphragm, Gate, Globe, Needle, Pinch, Plug, Pressure Xomox Corp Address: 4444 Cooper Rd, Cincinnati, OH 45242, USA Tel: + 1 513 745 6000 Fax: + 1 513 745 6093 Web: www.xomox.com Managing Director: Dale Friemoth Production Manager: Bill Metz No of Employees: 150 2003 Sales of Vah'es: US$50 million Manufacturing Plant Area: 96 000 sq ft Parent Company: Crane Co, USA Valve Products: Ball, Butterfly, Check, Control, Diaphragm, Pinch, Plug, Actuators Xomox Sanmar Ltd Address: 89/2 Vadugapa Village, Viralimalai 621 316, Pudukottai District, India Tel: +91 4339 220252 Fax: +91 4339 220371 Web: ~avw.sanmargroup.com Parent Company: Crane Co/The Sanmar Group JV Valve Products: Fluorocarbon Sleeved, Lined Plug Xomox UK Address: Riverside Rd, Barnstaple, Devon EX31 1QN, UK Tel: +44 1271 31111 Fax: +44 1271 322022 Web: x~vw.xomox.com General Manager: Peter Lyle No of Employees: 15 Parent Company: Crane Co, USA Valve Products: Plug Xomox International GmbH & Co Address: Von-Behring-Strasse 15, D-88131 Lindau, Germany Tel: +49 8382 702 0 Fax: +49 8382 702 144 Web: www.xomox.de No of Employees: 316 2003 Sales: (~57.5 million Parent Company: Crane Co, USA

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10 Directory of Valve Companies

Valve Products: Ball, Butterfly, Plug, Actuators

Xomox France SA Address: 8 rue de 1'I11,BP 29, F68350 Brunstatt-Mulhouse, France Tel + 33 3 89 61 13 61 Fax: +33 3 89 06 40 11 Web: w~v.xomox.com Commercial Director: Christian Beyer No of Employees: 43 2002 Sales: s million Parent Company: Crane Co, USA Yamada Valve Mfg Co Ltd Address: 1-22-3 Shirokane, Minato-ku, Tokyo 108-0072, Japan Tel: +81 3 3444 2621 Fax: +81 3 3440 1875 President: Shinichi Yamada Valve Products: Butterfly, Check, Control, Gate, Globe Yamatake Corp Address: Totate International Building, 2-12-19 Shibuya, Shibuya-ku, Tokyo 150-8316, Japan Tel" +81 3 3486 2011 Fax: +81 3 3409 7388 Web: ~'w.yamatake.com Valve Products: Control Yamato Sangyo Co Ltd Address: 4- l l - 17 Tatsumi-kita, Ikuno-ku, Osaka 544-0004, Japan Tel: +81 6 6751 1151 Fax: +81 6 6752 0577 Web: www.e-yamato.co.jp President: Koichi Okui Valve Products: Check, Globe, Satiety Yamato Valve Co Ltd Address: 1-2-8 Nishi-Shinagawa, Shinagawa-ku, Tokyo 141-0033, Japan Tel: +81 3 3492 6221 Fax: +81 3 3492 5470 Managing Director: T Ohishi Production Manager: S Matsuzaki Marketing Manager: T Ohishi No of Employees: 100

238

2003 Sales of Valves: US$140 million Manut~tcturing Plant Area: 21 400 sq m Valve Products: Ball, Butterfly, Check, Gate, Globe, Needle

Yancheng City Yancheng Power Station Valve Factory (YDF) Address: No 8 Caoyang Rd, Shangzhuang Town, Yancheng City, Jiangsu Province 224023, China Tel: +86 515 862 1172 Fax: +86 515 862 1208 Web: www.ydlYah,e.com Managing Director" Li Changyue Production Manager-Li Chanjin Marketing Manager: David Yao No of Employees: 250 Manut~acturing Plant Area: 10 000 sq m Quality Assurance Certification: ISO 9001, API 6D Certit~,ing Body" TUV Vah,e Product Types: Check, Gate, Globe Yancheng High & Medium Pressure Valve Co Ltd Address: No 6 Juheng Rd, Yancheng Economic Development Zone, Yancheng, Jiangsu 224007, China Tel: +86 515 828 0742 Fax: +86 515 828 1003 Valve Products: Ball, Check, Gate, Globe Yargasarmatura (Chaikovsky Subsidiary Co) Address: PO Box 8, Chaikovsky-6, Permsky Region 617766, Russia Tel: +7 34241 77292 Fax: +7 34241 28786/28763 Valve Products: Bali Yarway Corp Address: 480 Norristown Rd, Blue Bell, PA 19422, USA Tel: +1 610 825 2100 Fax: +1 610 825 1235 Web" ~vw.tycovalves.com Vice President, Sales & Marketing: John Murphy

Profile of the International Valve Industry

Parent Company: Tyco International, USA Valve Products: Blow-Off, Control

Yi Ming Machinery Ind Co Ltd Address: 276 Jung Shiau Rd, Pali, Taipei Hsien, Taiwan Tel: +886 2 86303236 Fax: +886 2 26100589 Web: ww~v.valve.com.tw Valve Products: Ball, Butterfly, Check, Gate Yone Corp Address: 23 Nishi-Nakaaicho, Nishinokyo, Nakagyo-ku, Kyoto 604-8441, Japan Tel: +81 75 821 1185 Fax: +81 75 801 2263 Web: w~v.yone-co.co.jp President: Toyohiko Yoneda Valve Products: Ball Yoneki Valve Co Ltd Address: Itohpia Iwamoto-cho Annex 7F, 2-14-2 lwamoto-cho, Chiyoda-ku, Tokyo 101-0032, Japan Tel: +81 3 3866 5721 Fax: +81 3 3866 5722 Managing Director: T Koshida Production Manager: H Sano Marketing Manager: S Harada No of Employees: 85 Quality Assurance Certification: ISO 9001 Certi@ing Body: M Tsuchiya Parent Company: Tokai Co Ltd, Japan Valve Products: Check, Gate, Globe, Needle

Yoshitake Inc Address: 7-3 Futanocho, Mizuhoku, Nagoya 467-0861, Japan Tel: +81 52 881 7199 Fax: +81 52 881 7201 Web: www.yoshitake.co.jp Managing Director: l~tsuhiko Matsuno Production Manager: Hiroki Uno Marketing Manager: Katsuhisa Onogi No of Employees: 259 2003 Sales of Valves: US$42.4 million

10 Directory of Valve Companies Quality Assurance Certification: ISO 9001, ISO 14001 CE Certifying Body: Japanese Standard Association BSI for CE Valve Products: Pressure, Solenoid, Safety, Temperature Regulating Young & Cunningham Ltd Address: 42 Methil St, Scotstoun, Glasgow G 14 0AN, UK Tel: +44 141 954 5011 Fax: +44 141 954 1172 Web: www.yandc.co.uk Parent Company: Cunningham & Shearer Valve Products: Ball, Butterfly, Check, Control, Gate, Globe, Pinch, Pressure, Actuators Young Tech Co Ltd Address: #662-8 Pungmu-dong, Kimpo-city, Kyunggi-Do, South Korea Tel: +82 31 986 8545 Fax: +82 31 986 2683 Web: www.ytc.co.kr Valve Products: Lock Up, Solenoid, Actuators Yuzhuralarmatura-Santechnik JSC Address: Turgoyakskaya Rd, Miass, Cheljabinsky Region 456313, Russia Tel: +7 35135 41662/42662/42725/42953 Fax: +7 35135 42970/42953 Valve Products: Check, Gate, Plug ZEiM Address: Yakovlev Prospect 1, Cheboksary 428020, Russia Tel: +7 8352 202772 Fax: +7 8352 202772 Web: www zeim.ru Managing Director: Vadim Sirotkin Production Manager: Alex Albicher Marketing Manager: Sergey Emesher No of Employees: 1430 Manufacturing Plant Area: 1700 sq m Quality Assurance Certification" ISO 9001

Certifying Body: TUV, Germany Valve Products: Bali, Gate, Plug, Actuators

Valve Products: Ball, Butterfly, Check, Diaphragm, Gate, Globe, Plug

Zenko Metal Co Ltd Address: 130-10 Tahaoka, Takinocho, Kato-gun, Hyogo 679-0222, Japan Tel: +81 795 48 3086 Fax: +81 795 48 3087 President: Masashi Ohkubo Valve Products: Check, Globe

Zhejiang Fangzheng Valve Factory Address: No l I Dajia Industrial Zone, Oubei, Wenzhou, Zhejiang, China Tel: +86 577 673 56851 Fax: +86 577 673 58449 Managing Director: Lin Fang Production Manager: Zhou Xiao Feng Marketing Manager: Hao Wen Ming No of Employees: 300 2003 Sales of Valves: US$8 million Manufacturing Plant Area: 12 000 sq m Valve Products: Ball, Butterfly, Check, Control, Gate, Globe, Plug, Pressure

Zetkama Fabryka Armatury Przemyslowej SA Address: ul Sl~ska 24, 57-300 Klodzko, Poland Tel: +48 74 865 21 00 Fax: +48 74 865 21 01 Web: www.zetkama.com.pl Valve Products: Bail, Control, Globe, Check Zhejiang Chaoda Valve Co Ltd Address: Oubei, Yongjia Zhejiang 32505, China Tel: +86 577 67319970 Fax: +86 577 67311151 Web: www.chinavalve.com Managing Director: Wang Han Zhou Production Manager: Huang Min Jin Marketing Manager: Ervine Gudas No of Employees: 318 2003 Sales of Valves: US$8 million Manufacturing Plant Area: 38 000 sq m Quality Assurance Certification: ISO 9001 Certifying Body: DNV Valve Products: Ball, Butterfly, Check, Gate,Globe, Plug Zhejiang Dafulong Valve Co Ltd Address: Zhangbao Industrial Zone, Oubei, Wenzhou, China Tel: +86 577 6731 7000 Fax: +86 577 6731 5844 Web: ~v.dafulon.com Managing Director: Zhang Dali Production Manager: Xia Xiaohua Markering Manager: Yang Shujie No of Employees: 186 Manufacturing Plant Area: 12 000 sq m

CH Zikesch Armaturentechnik GmbH Address: Laubenhof 13, D-45326 Essen, Germany Tel: +49 201 83 40 80 Fax: +49 201 34 27 71 Parent Company: Bopp & Reuther, Germany Z & J Technologies GmbH Address: Bahnstrasse 52, D-52355 Dfiren, Germany Tel: +49 2421 691 0 Fax: +49 2421 691 2 00 Web" www.zjtechnologies.de Valve Products: Butterfly, Check, Diverter, Isolation, Shut-Off, Slide Zimmermann & Jansen Inc Address: 620 N Houston Avenue, PO Box 3365, Humble, TX 77347-3365, USA Tel: + 1 281 446 8000 Fax: + 1 281 446 8126 Web" w~v.zjinc.com Parent Company: Z & J Technologies GmbH, Germany Valve Products: Butterfly, Check, Diverter, Isolation, Shut-Off, Slide

Profile of the International Valve Industry 239

10 Directory of Valve Companies

Zimmermann & Jansen SA (Pty} Ltd Address: l I Michelin St, PO Box 1335, Vanderbijlpark 1900, South At?ica Tel: +27 16 986 0159 Fax: +27 16 986 0510 Web: www.zjgmbh.de Parent Company: Z & J Technologies GmbH, Germany Valve Products: Butterfly, Check, Diverter, Isolation, Shut-Off, Slide Zipson Steel Industrial Co Lid No 9, Chen Kong 2 St, Minhsiung Industrial Park, Chia-Yi, Taiwan Tel: +886 2 22723098 Fax: +886 2 2272 1962 Web: www.taiwanvalve.com.tw Managing Director: Tom Yin Production Manager: Chia-IHsieh Marketing Manager: Jerry Yin No of Employees: 50 2003 Sales of Valves: US$2 million Quality Assurance Certification: ISO 9001 CE Parent Company: Loogoon Industrial Co Valve Products: Ball, Actuators

240

Znamya Truda (11 Lepse JSC) Address: 11 Magnitogorskaya Str, St Petersburg 195027, Russia Tel: +7 812 5283601/5283602/5283603 Fax: +7 812 5288963 Web: www.zt-lepse.com Valve Products: Ball, Check, Globe, Sat~ty Armaturen-und Metallwerke Z6blitz GmbH Address: Bahnhof~trasse 16, D09517 Z6blitz, Germany Tel: +49 37363 480 0 Fax: +49 37363 480 90 Web: ww~v.armaturen-zoeblitz.de Valve Products: Safety, Shut-Off ZPA PeEky as Address: ti" 5 Kv~tna 166, 289 l l Pe~ky, Czech Republic Tel: +420 321 785 141 Fax: +420 321 785 165 Web: ~a~v.zpa-pecky.cz blanaging Director" Pavel Ka'izka Production Manager: JosefNovak Marketing Manager: Stanislav Simonek No of Employees: 300

Profile of the International Valve Industry

2003 Sales of Valves: US$14 million Quality Assurance Certification: ISO 9001-2000 Valve Products: Actuators Zwick Armaturen GmbH Address: Egerstrasse 25, D-58256 Ennepetal, Germany Tel: +49 2333 985 65 Fax: +49 2333 985 66 Web: ~vw.zwick-gmbh.de Managing Director: Ursula Zwick Valve Products: Butterfly

Zy-Tech Global Industries Corp Address: 10600 Corporate Drive, Stafford, TX 77477, USA Tel: + 1 281 565 1010 Fax: +1 281 565 3171 Web: www.zy-tech.com President/CEO: Ray Baker Manufhcturing Plant Area: 150 000 sq f~ Valve Products: Ball

Appendices

Austria The Austrian Metalware Industry Association (FMWI) Wiedner Hauptstraf~e 63 Postfach 335 A- 1045 Vienna Austria Tel: +43 5 90 900 3482 Fax: +43 1 505 10 20 Web: www.fmwi.at

Belgium AGORIA Diamant Building Boulevard A Reyers Laan 80 B- 1030 Brussels Belgium Tel: +32 2 7 06 79 74 Fax: +32 2 7 06 79 88 Web: www.agoria.be

China China General Machinery Industry Association Web: www.cgmia.org.cn

(CGMIA)

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Europe C E I R - European Committee/br the Valve Industry c / o ORGALIME Diamant Building Boulevard Auguste Reyers 80 B- 1030 Brussels Belgium Tel: +32 2 7 06 82 37 Fax: +32 2 7 06 82 53 We b" w ~ : ceir-onlinc.org

France AFPR Association Francaise des Pompes et de la Robinetterie Maison de la M&anique 45 rue Louis Blanc 92400 Courbevoie France Tel: +33 1 47 17 62 98 Fax: +33 1 47 17 63 00 Web: w~v.asso-afpr.org

Finland Technology Industries of Finland, Valves and Fixtures Group Etel~iranta 10 PO Box 10 FIN-00131 Helsinki Finland Tel: +358 9 1923 376 Fax: +358 9 624 462 Web: www.teknologiateollisuus.fi

Germany V D M A - Valves Niederrad Lyoner Strasse 18 D-60528 Frankfurt am Main Germany Tel: +49 69 66 03 15 49 Fax: +49 69 66 03 25 49 Web" w~:vdma.org/vah'es

242

Profile of the International Valve Industry

11 Appendices

India Industrial Valves Division Confederation of Indian Industry CII Mantosh Sondhi Centre 23 Institutional Area Lodhi Road New Delhi 110003 India Tel: +91 11 24629994 Fax: +91 11 24621649 Web: www.ciionline.org

Italy AVR- Associazione Costruttori Valvole e Rubinetteria Via Battistotti Sassi 11/b 20133 Milano Italy Tel: +39 02 73 97307 Fax: +39 02 73 97848 Web: www.associazioneavr.it

Japan Japan Valve Manufacturers' Association Kikaishinkoh Bldg 3-5-8 Shibakoen Minato-ku Tokyo 105-0011 Japan Tel: +81 3 3434 1811 Fax: +81 3 3436 4335 Web" www.j-valve.or.jp

The Netherlands Vereniging van Nederlandse Appendage Fabrieken (NAF) Boerhaavelaan 40 NL-2713 HX Zoetermeer The Netherlands Tel: +31 79 353 1337 Fax: +31 79 353 1365 Web: www.fine.nl

Profile of the International Valve Industry

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11 Appendices

Portugal AIMMAP - Associ~cao dos Industrias Metalfirgicos, Metalomec~nicos e Afins de Portugal Rua dos Pl~itanos 197 P-4100 Porto Portugal Tel: +351 2 61 07 147 Fax: +351 2 61 07 473 Web: www.aimmap.pt

Romania The Romanian Committee for Industrial Valves 1 Mai St No 42 0200 Targoviste Dambovita Romania Tel: +40 245 615874 Fax: +40 245 615095 Web: www.cria.home.ro

Russia Scientific & Industrial Valve Manufacturers Association (NPAA) 11 Magnitogorskaya str 195027 St Petersburg Russia Tel: +7 812 5 28 75 71 Fax: +7 812 5 28 75 71 Web: x~vw.npa-arm.org

Slovenia SKPA (Slovenian Committee for the Valve Industry) c / o Chamber of Commerce and Industry of Slovenia Metals Association Dimi~eva 13 1504 Ljubljana Slovenia Tel: +386 1 58 98 267 Fax: +386 1 58 98 200 Web" x~wv.gzs.si

244

Profile of the International Valve Industry

11 Appendices

South Africa SAVAMA- South African Valve and Actuator Manufacturers Association PO Box 1338 Johannesburg 2000 South Africa Tel: +27 11 833 6033 Fax: +27 11 838 1522 Web: www.savama.co.za

Spain AGRIVAL La Asociaci6n Nacional de Fabricantes de Griferla y Valvulerla C/Academia 8-2a A Dcha 28014 Madrid Spain Tel: +34 91 420 00 35 Fax: +34 91 429 64 64 Web: www.agrival.es FLUIDEX Spanish Association of Fluid Handling Equipment Exporters Gran Via 13-5 ~ E-48001 - Bilbao Spain Tel: +34 94 470 65 0 6 / 0 5 Fax: +34 94 422 00 61 Web: www.fluidex.es

Sweden Svensk Armaturindustri Valves & Fittings of Sweden PO Box 5510 SE- 114 85 Stockholm Sweden Tel: +46 8 782 08 00 Fax: +46 8 660 33 78 Web: www.branschgrupperna.se

Profile of the International Valve Industry

24~5

11 Appendices

Switzerland Verband Schweizerischer Armaturenfabriken Bollwerk 21 Postfach 66 24 CH-3001 Bern Switzerland Tel: +41 31 328 35 49 Fax: +41 31 328 35 40 Web: www.urs-verband.ch

UK British Valve & Actuator Association The McLaren Building 35 Dale End Birmingham B4 7LN UK Tel: +44 121 200 1297 Fax: +44 121 200 1308 E-mail: [email protected] Web: wwav.bvaa.org.uk

USA Valve Manufacturers Association of America 1050 17th St NW, Suite 280 Washington DC 20036 USA Tel: +1 202 331 8105 Fax: +1 202 296 0378 Web: www.vma.org Valve Repair Council 1050 17th St NW, Suite 280 Washington DC 20036 USA Tel: +1 202 331 0104 Fax: + 1 202 296 0378 Web: www.vma.org

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Profile of the International Valve Industry

11 Appendices

2003 Exchange Rates against the US dolla r Country

Monetary Unit

Australia Brazil Canada China Denmark Euro Zone Hong Kong India Japan Malaysia Mexico New Zealand Norway Singapore South Africa South Korea Sri Lanka Sweden Switzerland Taiwan Thailand UK

Dollar Real Dollar Renminbi Yuan Krone Euro Dollar Rupee Yen Ringgit Peso Dollar Krone Dollar Rand Won Rupee Krona Franc Dollar Baht Pound

2003 1.53 3.08 1.40 8.28 6.58 0.88 7.79 46.59 115.97 3.80 10.79 1.72 7.08 1.74 7.56 1192.08 96.54 8.08 1.35 34.41 41.56 0.61

Profile of the International Valve Industry 247