Industrial PVF

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The red-hot industrial building boom has resulted in quite a few record second-quarter and first-half sales and earnings for several PVF firms. Here is a summary of some of the reports from public PVF companies.

The following information was gleaned from recent reports by Industrial Info Resources (www.industrialinfo.com), based in Sugar Land, TX.

The Hydraulic Institute has launched its new Web site.

Flowserve Corp. has opened a Flowserve Quick Response Center in Orland, CA.

Spirax Sarco Inc. (SSI) has acquired majority interest in UltraPure Group Ltd. Inc., a Florida-based company that manufactures pure steam generators and water stills for the bio-pharmaceutical industry.

Victaulic employees celebrate the opening of the company's new branch in Baltimore.

Global seamless pipe producer Tenaris S.A. will acquire Maverick Tube Corp. for $65 per share in cash, it was jointly announced by the two companies. The transaction is valued at $3.185 billion (all prices in U.S. dollars), including Maverick's net debt. The share price represents a premium of approximately 42% to Maverick's closing share price of June 12, 2006, and a premium of approximately 24% to its 90-day average trading price.

Flowserve Corp. has acquired HydroTechnik Olomouc, s.r.o., a privately held mechanical seal manufacturer based in Olomouc, Czech Republic.

Kelly Pipe Co. has opened new facilities in Houston and Chicago. Headquartered in Santa Fe Springs, CA, Kelly operates 11 branches plus 16 stocking locations for industrial PVF.

The U.S. International Trade Commission (ITC) voted in late June to continue the existing countervailing duty order on circular welded pipe and tube from Turkey; the existing antidumping duty orders on circular welded pipe and tube from Brazil, India, Korea, Mexico, Taiwan, Thailand, and Turkey; and the existing antidumping duty order on light-walled rectangular pipe and tube from Taiwan.