 |
The future looks very exciting for CIRCOR Instrumentation
in India. It is a rapidly expanding market with new projects
lined up for the near future in the petrochemical, refining
and power industries as well as many others. CNG business
has also started in India in a big way which means that
CIRCOR and its business partners have exciting times ahead.
|
The Indian economy is not only the third largest
in Asia but it is, in fact, the twelfth largest in
the world!
Modern India is one of the fastest growing
markets in Asia and CIRCOR has launched an extensive
network of distribution centres to cater to the requirements
of the Indian instrumentation and control businesses.
CIRCOR has redefined distribution in India,
and is now offering focused delivery of value in terms
of products and services across more than 10 major
Indian cities through two major distributors, Oiltech
Consultancy and Maco Corporation. In addition, AM
Engineering based in Mumbai, is a distributor for
the GO Regulator range of products.
Mohan Rao, Market Specialist for India has been appointed
by CIRCOR Instrumentation UK to extend technical support
and develop markets in the region.
Backed by CIRCOR’s identity, reputation
and brands, our distribution network is set to become
the most extensive and qualitative source for instrumentation
and control products in India.
A great CIRCOR team in India:
Oiltech and Maco
Established in 1980, Oiltech Consultancy Services
is one of the leading distributor houses in India,
supplying products and services to many different
customers related to the oil & gas, petrochemical,
power generation and aviation industries.
Now distributing CIRCOR Instrumentation
products in the North and West of India, the success
story with Oiltech started in 1994 with the company’s
selection of
|
 |
|
Hoke Gyrolok
on the Reliance Hazira Petrochemical Complex.
Hoke was introduced to Reliance
Industries by Oiltech in 1994 when the second
phase of their Hazira complex started. This
included commissioning of Polypropylene
(PP), Naphta Cracker and Purified
Terephtalic Acid (PTA) plants. Hoke
|
valves
& Gyrolok fittings were specified as
the preferred products for the project.
In 1997 Reliance began engineering for the
Jamnagar Development, which is a fully integrated
manufacturing complex
continued>>> |
|
|
|
|
| CIRCOR
Results |
| CIRCOR
International, Inc. announced results for the third quarter
ended September 30, 2003.
Revenues for the 2003 third quarter were
$86.7 million, an increase of 4.3% from $83.1 million for
the third quarter of 2002.
Revenues for the nine months ended September
30, 2003, were $263.0 million, an increase of 7.3% from $245.1
million for the first nine months of 2002.
CIRCOR’s Chairman and Chief Executive
Officer, David A. Bloss, Sr., commented, “General market
conditions improved slightly during the third quarter. Although
end-user demand from most markets we serve remains weak, we
are beginning to see some encouraging signs of improved economic
conditions for many of our businesses. … Our petrochemical,
aerospace, military, medical/ pharmaceutical and industrial
valve businesses contributed to overall orders being up 9.4%,
while total backlog increased 16.6% compared to the third
quarter of last year, excluding the effect of acquisitions
although assisted by the effect of year-over-year foreign
exchange rate changes.”
Bloss further stated,
“…For the first nine months of 2003, $32.2 million
in free cash flow was generated, which equaled 2.6 times net
income, or 12.3% of net revenues. At the end of the first
nine months of 2003, net debt (debt less cash, cash equivalents,
and marketable securities) had decreased to nearly zero.” |
| Appointments |
|
Barry L Taylor, Sr has been appointed Vice President and
General Manager of CIRCOR’s Instrumentation Technologies
Division. Barry has been with the company for 16 years and
most recently served as Vice President and General Manager
of Hoke Operations. His new role will take in additional responsibility
for Industrial Product Development and Sales and Marketing
for Hoke, GO Regulator, Tomco, Atkomatic and CSC Industrial
Products.
The company’s goal is to have a high performing, cohesive
team made up of product design, manufacturing, marketing,
sales and distribution focused on continual improvement in
all segments of our business to support our strategic plan
of growth through market share gain. |
|
