Investorideas.com - Water Stocks; Middlesex Water Company (NASDAQ:MSEX) Announces First Quarter Results
Water Stocks; Middlesex Water Company (NASDAQ:MSEX) Announces First Quarter Results
ISELIN, NJ - May 7, 2010 (Investorideas.com Water Stocks Newswire) - Middlesex Water Company (NASDAQ:MSEX), a provider of water and wastewater and related services primarily in New Jersey and Delaware, today announced operating revenues for the quarter ended March 31, 2010 of $21.6 million, up $1.1 million from the same period in 2009.
First Quarter Operating Results
Revenues in the Company's Middlesex system in New Jersey increased $0.4 million primarily due to $0.2 million of higher revenues from contract sales to municipalities and increased revenues of $0.2 million from the effects of the purchase water adjustment clause implemented on July 1, 2009. Water use by residential, commercial and industrial customers remained consistent with the first quarter of 2009 but below historical average usage. Revenues in our Tidewater system in Delaware increased $0.7 million, primarily due to a combination of increased rates that went into effect in late March 2009, customer growth and increased water consumption.
"While water consumption patterns typically remained constant in the first quarter relative to the same period in the prior year, as we enter our peak season for water demand we are encouraged by customer and related consumption growth in our Delaware operations. We are also anticipating the benefit from rate relief awarded in New Jersey in mid-March 2010," said Middlesex Water President and CEO Dennis W. Doll.
Operation and maintenance expenses for the three months ended March 31, 2010 increased $0.6 million compared to the same period in 2009, with materials, supplies and outside contractor costs rising $0.3 million due to a higher incidence of weather-related water main breaks in New Jersey. Labor costs in our New Jersey and Delaware operations increased $0.2 million, largely due to snow removal related to several significant snow storms both in New Jersey and Delaware. Water production costs were $0.2 million higher due to increased chemical and residual disposal expenses required due to heightened rainfall in March 2010, increased purchased water costs and increased facilities maintenance expenses. Net income increased $0.2 million to $1.5 million. Basic and diluted earnings per share increased to $0.11 for the three months ended March 31, 2010, compared to $0.10 for the same period in 2009.
Board Declares Quarterly Dividend
The Company's Board of Directors declared a quarterly cash dividend of $0.1800 per share, payable June 1, 2010 to common shareholders as of May 14, 2010. The Company has paid cash dividends in varying amounts continually since 1912. The Company has a Dividend Reinvestment Plan under which dividends and optional cash payments can be used to purchase additional shares of Common stock. Middlesex Water is currently offering a 5% discount on shares of its Common Stock to participants in its Dividend Reinvestment Plan, through June 1, 2010.
Annual Shareholders Meeting
The Company will host its annual meeting of shareholders on Tuesday, May 25, 2010, beginning at 11:00 EDT at its corporate headquarters in Iselin, NJ.
About Middlesex Water Company
Middlesex Water Company, organized in 1897, is a water utility serving customers in central and southern New Jersey and in the State of Delaware. Headquartered in Iselin, NJ, Middlesex Water is subject to various Federal and State regulatory agencies concerning water quality standards.
For additional information regarding Middlesex Water Company, visit the Company's web site at www.middlesexwater.com or call (732) 634-1500.
This release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, our long-term strategy and expectations, the status of our acquisition program, the impact of our acquisitions, the impact of current and projected rate requests and the impact of our capital program on our environmental compliance. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including: general economic business conditions, unfavorable weather conditions, the success of certain cost containment initiatives, changes in regulations or regulatory treatment, availability and the cost of capital, the success of growth initiatives and other factors discussed in our filings with the Securities and Exchange Commission.
Contact:
Bernadette Sohler,
Middlesex Water Company
Vice President – Corporate Affairs
(732) 638-7549
Source: Middlesex Water Company
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Friday, May 7, 2010
Wednesday, May 5, 2010
Water Stocks; Mueller Water Products(NYSE: MWA) Reports Fiscal Second Quarter 2010 Results
Water Stocks; Mueller Water Products(NYSE: MWA) Reports Fiscal Second Quarter 2010 Results
Net Sales Excluding Divested Operations Increased Year-over-Year
Mueller Co. Core Products Bookings up 40 Percent Year-over-Year
Second Quarter EPS Loss of $0.15 and Adjusted EPS Loss of $0.11
ATLANTA--(Investorideas.com water stocks newswire)--Mueller Water Products, Inc. (NYSE: MWA) reported net sales of $301.8 million and a net loss of $23.7 million for the quarter ended March 31, 2010. Summarized consolidated 2010 second quarter results compared to 2009 second quarter results are as follows:
“Our second-quarter results came in essentially as we had expected. Net sales excluding divested operations in the second quarter increased from the prior year period, the first quarter in six quarters in which net sales increased year-over-year”
.•Net sales for the 2010 second quarter were $301.8 million, down 6.3 percent compared to $322.2 million for the 2009 second quarter. Excluding the net sales of two divested Anvil businesses, net sales for the 2010 second quarter increased 2.3 percent year-over-year.
•Loss from operations for the 2010 second quarter was $22.9 million compared to a loss from operations of $618.2 million for the 2009 second quarter. Adjusted loss from operations for the 2010 second quarter was $12.4 million compared to adjusted loss from operations of $5.1 million for the 2009 second quarter.
•Adjusted EBITDA was $9.0 million for the 2010 second quarter compared to $18.8 million for the 2009 second quarter.
•Net loss per share was $0.15 for the 2010 second quarter compared to a net loss per share of $4.90 for the 2009 second quarter. Adjusted net loss per share was $0.11 for the 2010 second quarter compared to adjusted net loss per share of $0.13 for the 2009 second quarter.
•Net debt, which is total debt less cash and cash equivalents, at March 31, 2010, decreased $88.4 million to $590.3 million since September 30, 2009.
“Our second-quarter results came in essentially as we had expected. Net sales excluding divested operations in the second quarter increased from the prior year period, the first quarter in six quarters in which net sales increased year-over-year,” said Gregory E. Hyland, chairman, president and chief executive officer of Mueller Water Products. “Capacity utilization increased in all three business segments: Mueller Co., U.S. Pipe and Anvil, which is expected to benefit our financial performance in the second half of the year. Unit bookings of our core products at Mueller Co. – valves, hydrants and brass service - increased 40 percent year-over-year, and bookings on a tonnage basis at U.S. Pipe increased over 50 percent. However, pricing continued to negatively impact sales at U.S. Pipe during the quarter, and we believe pricing could remain challenging for the balance of the fiscal year. Anvil’s results reflect the downturn in non-residential construction.
“We are seeing clear signs the water infrastructure market is gradually recovering and positive trends in some of our businesses. The improved order trends we saw in our water infrastructure markets in the first quarter strengthened further in the second quarter. The uptick in orders, especially as we enter the construction season, reinforces our belief that we will continue to increase capacity utilization, which should lead to higher margins.”
Second Quarter Consolidated Results
Net sales for the 2010 second quarter of $301.8 million declined $20.4 million from $322.2 million for the 2009 second quarter. Net sales declined due to the divestiture of two Anvil businesses, which had sales of $27.3 million in the 2009 second quarter, and lower pricing of $19.4 million, mainly at U.S. Pipe. These items were partially offset by $25.1 million of higher shipment volumes and favorable Canadian currency exchange rates of $2.6 million.
Adjusted loss from operations for the 2010 second quarter of $12.4 million increased $7.3 million from $5.1 million for the 2009 second quarter. Results were negatively impacted by the lower sales pricing and $9.4 million of higher per-unit overhead costs primarily due to lower production. The quarter’s results were positively impacted by $12.9 million of manufacturing and other cost savings, $7.4 million of higher shipment volumes and $3.6 million of lower raw material costs.
Second Quarter Segment Results
Mueller Co.
Net sales for Mueller Co. increased $26.4 million to $141.2 million for the 2010 second quarter from $114.8 million for the 2009 second quarter due mainly to $26.8 million of higher shipment volumes. Shipment volumes of iron gate valves, hydrants and brass service products for the quarter all increased above the prior year period.
Income from operations of $9.7 million for the 2010 second quarter increased $7.1 million from adjusted income from operations of $2.6 million for the 2009 second quarter. Adjusted EBITDA increased to $22.2 million for the 2010 second quarter from $15.8 million for the 2009 second quarter. Income from operations increased due to $9.9 million of higher shipment volumes and $5.3 million of manufacturing and other cost savings. These items were partially offset by $2.8 million of higher selling, general and administrative expenses primarily associated with investments in Mueller Systems, $2.0 million of higher per-unit overhead costs, and $1.2 million of lower sales pricing.
U.S. Pipe
Net sales for U.S. Pipe of $83.0 million for the 2010 second quarter declined $10.2 million from $93.2 million for the 2009 second quarter. This decrease was due to $17.6 million of lower pricing partially offset by $7.4 million of higher shipment volumes.
Adjusted loss from operations of $19.6 million and an adjusted EBITDA loss of $14.6 million for the 2010 second quarter compare to adjusted loss from operations of $10.9 million and an adjusted EBITDA loss of $4.7 million for the 2009 second quarter. The 2010 second quarter results were negatively impacted by lower sales pricing partially offset by a number of positive factors, including $4.8 million of manufacturing and other cost savings, $1.9 million of higher shipment volumes, $1.4 million of lower selling, general and administrative expenses and $1.1 million of lower raw material costs. During the quarter we recorded $10.4 million in restructuring charges primarily associated with the closure of the North Birmingham facility.
Anvil
Net sales for Anvil of $77.6 million for the 2010 second quarter declined $36.6 million from $114.2 million for the 2009 second quarter. Net sales declined $27.3 million due to the divestiture of two businesses and $9.1 million due to lower shipment volumes.
Adjusted income from operations of $6.0 million and adjusted EBITDA of $9.7 million for the 2010 second quarter compare to adjusted income from operations of $12.1 million and adjusted EBITDA of $16.5 million in the 2009 second quarter. Adjusted income from operations decreased $8.1 million from higher per-unit overhead costs primarily due to lower production and $4.4 million of lower shipment volumes. These decreases were partially offset by $3.1 million from the gain on the sale of one of the divestitures, $2.8 million of manufacturing and other cost savings and $2.1 million of lower raw material costs.
Interest Expense
Net interest expense of $14.8 million for the 2010 second quarter decreased from $16.6 million for the 2009 second quarter. The 2010 second quarter included a $1.2 million net benefit from the settlement of interest rate swap contracts associated with debt repayments. When adjusted, 2010 second quarter net interest expense decreased $0.6 million from the 2009 second quarter primarily due to lower debt levels during the 2010 second quarter partially offset by higher interest rates.
Use of Non-GAAP Measures
The Company presents adjusted income (loss) from operations, adjusted EBITDA, adjusted net loss, adjusted net loss per share, net debt and free cash flow as non-GAAP measures. Adjusted income (loss) from operations represents income (loss) from operations excluding impairment, restructuring and debt extinguishment-related items. Adjusted EBITDA represents income (loss) before depreciation, amortization, debt-related transactions, interest income, income taxes, impairment and restructuring charges. The Company presents adjusted EBITDA because it is an important supplemental measure of performance, and management believes it is frequently used by securities analysts, investors and interested parties in the evaluation of financial performance. Adjusted EBITDA has limitations as an analytical tool, and investors should not consider it in isolation or as a substitute for analysis of the Company's results as reported under accounting principles generally accepted in the United States ("GAAP"). Adjusted net loss and adjusted net loss per share exclude impairment and restructuring charges, gains and losses from the early settlement of interest rate swap contracts and the early extinguishment of debt. These items are excluded because they are considered unusual and not indicative of recurring operations. Net debt, which is total debt less cash and cash equivalents, is used because management reviews net debt as part of its management of the Company’s overall liquidity, financial flexibility, capital structure and leverage. Furthermore, certain debt rating agencies, creditors and credit analysts monitor the Company’s net debt as part of their assessment of the Company’s business. Free cash flow, which represents cash flows from operating activities less capital expenditures, is presented as a measurement of cash flow because it is commonly used by the investment community.
A reconciliation of non-GAAP to GAAP results is included as an attachment to this press release and has been posted online at www.muellerwaterproducts.com.
Conference Call Webcast
Mueller Water Products’ quarterly earnings conference call will take place Wednesday, May 5, 2010 at 9:00 a.m. EDT. Mueller Water Products’ chairman, president and chief executive officer, Gregory E. Hyland, and members of the Company’s leadership team will discuss the Company’s recent financial performance and respond to questions from financial analysts. Mueller Water Products invites interested investors to listen to the call and view the accompanying slide presentation, which will be carried live on its Web site at www.muellerwaterproducts.com.
Investors interested in listening to the call should log on to the Web site several minutes before the start of the call. After selecting the presentation icon, investors should follow the instructions to ensure their systems are set up to hear the event and view the accompanying presentation slides.
Safe Harbor Statement
This press release contains certain statements that may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements that address activities, events or developments that we intend, expect, plan, project, believe or anticipate will or may occur in the future are forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make regarding our ability to increase capacity utilization. Forward-looking statements are based on certain assumptions and assessments made by us in light of our experience and perception of historical trends, current conditions and expected future developments. Actual results and the timing of events may differ materially from those contemplated by the forward-looking statements due to a number of factors, including regional, national or global political, economic, business, competitive, market and regulatory conditions and the following:
•the demand level of manufacturing and construction activity;
•our ability to service our debt obligations; and
•the other factors that are described in the section entitled “RISK FACTORS” in Item 1A of our most recently filed Annual Report on Form 10-K.
Undue reliance should not be placed on any forward-looking statements. We do not have any intention or obligation to update forward-looking statements after we file this press release, except as required by law.
About Mueller Water Products, Inc.
Mueller Water Products, Inc. is a leading North American manufacturer and marketer of a broad range of water infrastructure, flow control and piping component system products for use in water distribution networks and water treatment facilities. The Company's broad product portfolio includes engineered valves, fire hydrants, pipe fittings, water meters and ductile iron pipe, which are used by municipalities, as well as the residential and non-residential construction industries for heating, ventilation and air conditioning, fire protection, industrial, energy and oil & gas industries. With latest 12 months net sales through March 31, 2010 of $1.4 billion, the Company is comprised of three operating segments: Mueller Co., U.S. Pipe and Anvil. Based in Atlanta, Georgia, the Company employs approximately 5,100 people. The Company's common stock trades on the New York Stock Exchange under the ticker symbol MWA. For more information about Mueller Water Products, Inc., please visit the Company's Web site at http://www.muellerwaterproducts.com/. See full financial tables at news at http://www.muellerwaterproducts.com/
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Net Sales Excluding Divested Operations Increased Year-over-Year
Mueller Co. Core Products Bookings up 40 Percent Year-over-Year
Second Quarter EPS Loss of $0.15 and Adjusted EPS Loss of $0.11
ATLANTA--(Investorideas.com water stocks newswire)--Mueller Water Products, Inc. (NYSE: MWA) reported net sales of $301.8 million and a net loss of $23.7 million for the quarter ended March 31, 2010. Summarized consolidated 2010 second quarter results compared to 2009 second quarter results are as follows:
“Our second-quarter results came in essentially as we had expected. Net sales excluding divested operations in the second quarter increased from the prior year period, the first quarter in six quarters in which net sales increased year-over-year”
.•Net sales for the 2010 second quarter were $301.8 million, down 6.3 percent compared to $322.2 million for the 2009 second quarter. Excluding the net sales of two divested Anvil businesses, net sales for the 2010 second quarter increased 2.3 percent year-over-year.
•Loss from operations for the 2010 second quarter was $22.9 million compared to a loss from operations of $618.2 million for the 2009 second quarter. Adjusted loss from operations for the 2010 second quarter was $12.4 million compared to adjusted loss from operations of $5.1 million for the 2009 second quarter.
•Adjusted EBITDA was $9.0 million for the 2010 second quarter compared to $18.8 million for the 2009 second quarter.
•Net loss per share was $0.15 for the 2010 second quarter compared to a net loss per share of $4.90 for the 2009 second quarter. Adjusted net loss per share was $0.11 for the 2010 second quarter compared to adjusted net loss per share of $0.13 for the 2009 second quarter.
•Net debt, which is total debt less cash and cash equivalents, at March 31, 2010, decreased $88.4 million to $590.3 million since September 30, 2009.
“Our second-quarter results came in essentially as we had expected. Net sales excluding divested operations in the second quarter increased from the prior year period, the first quarter in six quarters in which net sales increased year-over-year,” said Gregory E. Hyland, chairman, president and chief executive officer of Mueller Water Products. “Capacity utilization increased in all three business segments: Mueller Co., U.S. Pipe and Anvil, which is expected to benefit our financial performance in the second half of the year. Unit bookings of our core products at Mueller Co. – valves, hydrants and brass service - increased 40 percent year-over-year, and bookings on a tonnage basis at U.S. Pipe increased over 50 percent. However, pricing continued to negatively impact sales at U.S. Pipe during the quarter, and we believe pricing could remain challenging for the balance of the fiscal year. Anvil’s results reflect the downturn in non-residential construction.
“We are seeing clear signs the water infrastructure market is gradually recovering and positive trends in some of our businesses. The improved order trends we saw in our water infrastructure markets in the first quarter strengthened further in the second quarter. The uptick in orders, especially as we enter the construction season, reinforces our belief that we will continue to increase capacity utilization, which should lead to higher margins.”
Second Quarter Consolidated Results
Net sales for the 2010 second quarter of $301.8 million declined $20.4 million from $322.2 million for the 2009 second quarter. Net sales declined due to the divestiture of two Anvil businesses, which had sales of $27.3 million in the 2009 second quarter, and lower pricing of $19.4 million, mainly at U.S. Pipe. These items were partially offset by $25.1 million of higher shipment volumes and favorable Canadian currency exchange rates of $2.6 million.
Adjusted loss from operations for the 2010 second quarter of $12.4 million increased $7.3 million from $5.1 million for the 2009 second quarter. Results were negatively impacted by the lower sales pricing and $9.4 million of higher per-unit overhead costs primarily due to lower production. The quarter’s results were positively impacted by $12.9 million of manufacturing and other cost savings, $7.4 million of higher shipment volumes and $3.6 million of lower raw material costs.
Second Quarter Segment Results
Mueller Co.
Net sales for Mueller Co. increased $26.4 million to $141.2 million for the 2010 second quarter from $114.8 million for the 2009 second quarter due mainly to $26.8 million of higher shipment volumes. Shipment volumes of iron gate valves, hydrants and brass service products for the quarter all increased above the prior year period.
Income from operations of $9.7 million for the 2010 second quarter increased $7.1 million from adjusted income from operations of $2.6 million for the 2009 second quarter. Adjusted EBITDA increased to $22.2 million for the 2010 second quarter from $15.8 million for the 2009 second quarter. Income from operations increased due to $9.9 million of higher shipment volumes and $5.3 million of manufacturing and other cost savings. These items were partially offset by $2.8 million of higher selling, general and administrative expenses primarily associated with investments in Mueller Systems, $2.0 million of higher per-unit overhead costs, and $1.2 million of lower sales pricing.
U.S. Pipe
Net sales for U.S. Pipe of $83.0 million for the 2010 second quarter declined $10.2 million from $93.2 million for the 2009 second quarter. This decrease was due to $17.6 million of lower pricing partially offset by $7.4 million of higher shipment volumes.
Adjusted loss from operations of $19.6 million and an adjusted EBITDA loss of $14.6 million for the 2010 second quarter compare to adjusted loss from operations of $10.9 million and an adjusted EBITDA loss of $4.7 million for the 2009 second quarter. The 2010 second quarter results were negatively impacted by lower sales pricing partially offset by a number of positive factors, including $4.8 million of manufacturing and other cost savings, $1.9 million of higher shipment volumes, $1.4 million of lower selling, general and administrative expenses and $1.1 million of lower raw material costs. During the quarter we recorded $10.4 million in restructuring charges primarily associated with the closure of the North Birmingham facility.
Anvil
Net sales for Anvil of $77.6 million for the 2010 second quarter declined $36.6 million from $114.2 million for the 2009 second quarter. Net sales declined $27.3 million due to the divestiture of two businesses and $9.1 million due to lower shipment volumes.
Adjusted income from operations of $6.0 million and adjusted EBITDA of $9.7 million for the 2010 second quarter compare to adjusted income from operations of $12.1 million and adjusted EBITDA of $16.5 million in the 2009 second quarter. Adjusted income from operations decreased $8.1 million from higher per-unit overhead costs primarily due to lower production and $4.4 million of lower shipment volumes. These decreases were partially offset by $3.1 million from the gain on the sale of one of the divestitures, $2.8 million of manufacturing and other cost savings and $2.1 million of lower raw material costs.
Interest Expense
Net interest expense of $14.8 million for the 2010 second quarter decreased from $16.6 million for the 2009 second quarter. The 2010 second quarter included a $1.2 million net benefit from the settlement of interest rate swap contracts associated with debt repayments. When adjusted, 2010 second quarter net interest expense decreased $0.6 million from the 2009 second quarter primarily due to lower debt levels during the 2010 second quarter partially offset by higher interest rates.
Use of Non-GAAP Measures
The Company presents adjusted income (loss) from operations, adjusted EBITDA, adjusted net loss, adjusted net loss per share, net debt and free cash flow as non-GAAP measures. Adjusted income (loss) from operations represents income (loss) from operations excluding impairment, restructuring and debt extinguishment-related items. Adjusted EBITDA represents income (loss) before depreciation, amortization, debt-related transactions, interest income, income taxes, impairment and restructuring charges. The Company presents adjusted EBITDA because it is an important supplemental measure of performance, and management believes it is frequently used by securities analysts, investors and interested parties in the evaluation of financial performance. Adjusted EBITDA has limitations as an analytical tool, and investors should not consider it in isolation or as a substitute for analysis of the Company's results as reported under accounting principles generally accepted in the United States ("GAAP"). Adjusted net loss and adjusted net loss per share exclude impairment and restructuring charges, gains and losses from the early settlement of interest rate swap contracts and the early extinguishment of debt. These items are excluded because they are considered unusual and not indicative of recurring operations. Net debt, which is total debt less cash and cash equivalents, is used because management reviews net debt as part of its management of the Company’s overall liquidity, financial flexibility, capital structure and leverage. Furthermore, certain debt rating agencies, creditors and credit analysts monitor the Company’s net debt as part of their assessment of the Company’s business. Free cash flow, which represents cash flows from operating activities less capital expenditures, is presented as a measurement of cash flow because it is commonly used by the investment community.
A reconciliation of non-GAAP to GAAP results is included as an attachment to this press release and has been posted online at www.muellerwaterproducts.com.
Conference Call Webcast
Mueller Water Products’ quarterly earnings conference call will take place Wednesday, May 5, 2010 at 9:00 a.m. EDT. Mueller Water Products’ chairman, president and chief executive officer, Gregory E. Hyland, and members of the Company’s leadership team will discuss the Company’s recent financial performance and respond to questions from financial analysts. Mueller Water Products invites interested investors to listen to the call and view the accompanying slide presentation, which will be carried live on its Web site at www.muellerwaterproducts.com.
Investors interested in listening to the call should log on to the Web site several minutes before the start of the call. After selecting the presentation icon, investors should follow the instructions to ensure their systems are set up to hear the event and view the accompanying presentation slides.
Safe Harbor Statement
This press release contains certain statements that may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements that address activities, events or developments that we intend, expect, plan, project, believe or anticipate will or may occur in the future are forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make regarding our ability to increase capacity utilization. Forward-looking statements are based on certain assumptions and assessments made by us in light of our experience and perception of historical trends, current conditions and expected future developments. Actual results and the timing of events may differ materially from those contemplated by the forward-looking statements due to a number of factors, including regional, national or global political, economic, business, competitive, market and regulatory conditions and the following:
•the demand level of manufacturing and construction activity;
•our ability to service our debt obligations; and
•the other factors that are described in the section entitled “RISK FACTORS” in Item 1A of our most recently filed Annual Report on Form 10-K.
Undue reliance should not be placed on any forward-looking statements. We do not have any intention or obligation to update forward-looking statements after we file this press release, except as required by law.
About Mueller Water Products, Inc.
Mueller Water Products, Inc. is a leading North American manufacturer and marketer of a broad range of water infrastructure, flow control and piping component system products for use in water distribution networks and water treatment facilities. The Company's broad product portfolio includes engineered valves, fire hydrants, pipe fittings, water meters and ductile iron pipe, which are used by municipalities, as well as the residential and non-residential construction industries for heating, ventilation and air conditioning, fire protection, industrial, energy and oil & gas industries. With latest 12 months net sales through March 31, 2010 of $1.4 billion, the Company is comprised of three operating segments: Mueller Co., U.S. Pipe and Anvil. Based in Atlanta, Georgia, the Company employs approximately 5,100 people. The Company's common stock trades on the New York Stock Exchange under the ticker symbol MWA. For more information about Mueller Water Products, Inc., please visit the Company's Web site at http://www.muellerwaterproducts.com/. See full financial tables at news at http://www.muellerwaterproducts.com/
_____________________________________
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Visit the water stocks directory at Investorideas.com and www.water-stocks.com to research publicly traded water companies, listed on global stock exchanges :
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Water Stocks; ITT’s (NYSE: ITT) WEDECO Ozone Generators Chosen for City of Wichita Aquifer Storage Project
Water Stocks; ITT’s (NYSE: ITT) WEDECO Ozone Generators Chosen for City of Wichita Aquifer Storage Project
Combined treatment system removes Endocrine Disrupting Compounds, kills pathogens
CHARLOTTE, N.C.--(Investorideas.com water stocks newswire)--ITT Corporation (NYSE: ITT), a global leader in the transport and treatment of water and wastewater, announced that its WEDECO ozone generators have been chosen by Air Products and Chemicals, Inc. for placement in a new treatment plant in Wichita, Kansas. Together with Air Products’ Halia™ advanced oxidation system, ITT’s WEDECO ozone generators form a complete Advanced Oxidation Process (AOP) solution that removes Endocrine Disrupting Compounds (EDCs), which result from the use of pharmaceuticals and personal care products. The AOP solution is also capable of killing pathogens and mitigating bromate formation as a carcinogenic by-product. The system will treat 30 million gallons of water per day at the Wichita surface water treatment plant.
The plant is built in conjunction with the Equus Beds Aquifer Storage and Recovery Project. To counter water shortages due to population growth, the City of Wichita has developed this multi-phase project that will draw excess water from the Little Arkansas River. That water will be treated and then pumped into the Equus Beds Aquifer for future residential, agricultural and commercial use.
Shaun Porter, water industry specialist at Air Products said, “We are extremely pleased with our arrangement with ITT to provide a cost-effective contaminant removal solution. The Halia advanced oxidation system can help meet disinfection requirements while also destroying trace contaminants and minimizing the formation of by-products, such as bromate, making it ideal for drinking water applications, as well as water reuse and process water clean-up.”
WEDECO PDO Series ozone generators were selected for this project, with each unit producing 2,100 pounds per day of ozone. This system comes completely mounted and instrumented and utilizes the industry-leading WEDECO EFFIZON® HP electrodes and variable frequency power supply technology.
About ITT’s Water & Wastewater Business
ITT's Water & Wastewater business is a global provider of water handling and treatment solutions for municipal and industrial customers in more than 140 countries. ITT designs and delivers energy-efficient solutions and related services for water and wastewater transport, biological treatment, filtration and disinfection. The Water and Wastewater business employs a global sales network, has manufacturing sites in Europe, Asia and the Americas, and is based in Stockholm, Sweden. www.ittwww.com
About ITT Corporation
ITT Corporation is a high-technology engineering and manufacturing company operating on all seven continents in three vital markets: water and fluids management, global defense and security, and motion and flow control. With a heritage of innovation, ITT partners with its customers to deliver extraordinary solutions that create more livable environments, provide protection and safety and connect our world. Headquartered in White Plains, N.Y., the company generated 2009 revenue of $10.9 billion. www.itt.com
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Combined treatment system removes Endocrine Disrupting Compounds, kills pathogens
CHARLOTTE, N.C.--(Investorideas.com water stocks newswire)--ITT Corporation (NYSE: ITT), a global leader in the transport and treatment of water and wastewater, announced that its WEDECO ozone generators have been chosen by Air Products and Chemicals, Inc. for placement in a new treatment plant in Wichita, Kansas. Together with Air Products’ Halia™ advanced oxidation system, ITT’s WEDECO ozone generators form a complete Advanced Oxidation Process (AOP) solution that removes Endocrine Disrupting Compounds (EDCs), which result from the use of pharmaceuticals and personal care products. The AOP solution is also capable of killing pathogens and mitigating bromate formation as a carcinogenic by-product. The system will treat 30 million gallons of water per day at the Wichita surface water treatment plant.
The plant is built in conjunction with the Equus Beds Aquifer Storage and Recovery Project. To counter water shortages due to population growth, the City of Wichita has developed this multi-phase project that will draw excess water from the Little Arkansas River. That water will be treated and then pumped into the Equus Beds Aquifer for future residential, agricultural and commercial use.
Shaun Porter, water industry specialist at Air Products said, “We are extremely pleased with our arrangement with ITT to provide a cost-effective contaminant removal solution. The Halia advanced oxidation system can help meet disinfection requirements while also destroying trace contaminants and minimizing the formation of by-products, such as bromate, making it ideal for drinking water applications, as well as water reuse and process water clean-up.”
WEDECO PDO Series ozone generators were selected for this project, with each unit producing 2,100 pounds per day of ozone. This system comes completely mounted and instrumented and utilizes the industry-leading WEDECO EFFIZON® HP electrodes and variable frequency power supply technology.
About ITT’s Water & Wastewater Business
ITT's Water & Wastewater business is a global provider of water handling and treatment solutions for municipal and industrial customers in more than 140 countries. ITT designs and delivers energy-efficient solutions and related services for water and wastewater transport, biological treatment, filtration and disinfection. The Water and Wastewater business employs a global sales network, has manufacturing sites in Europe, Asia and the Americas, and is based in Stockholm, Sweden. www.ittwww.com
About ITT Corporation
ITT Corporation is a high-technology engineering and manufacturing company operating on all seven continents in three vital markets: water and fluids management, global defense and security, and motion and flow control. With a heritage of innovation, ITT partners with its customers to deliver extraordinary solutions that create more livable environments, provide protection and safety and connect our world. Headquartered in White Plains, N.Y., the company generated 2009 revenue of $10.9 billion. www.itt.com
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More water stocks info and water stocks research:
Visit the water stocks directory at Investorideas.com and http://www.water-stocks.com/ to research publicly traded water companies, listed on global stock exchanges : http://www.investorideas.com/Water-Stocks/Stock_List.asp
Tuesday, May 4, 2010
Nalco (NYSE:NLC) Responding to Oil Spill in Gulf of Mexico
Nalco (NYSE:NLC) Responding to Oil Spill in Gulf of Mexico
NAPERVILLE, Ill., May 3, 2010 (Investorideas.com water stocks newswire ) -- Nalco (NYSE:NLC) confirmed it is providing oil dispersants and support to BP and the responders dealing with the oil spill in the Gulf of Mexico. The company will continue to provide these dispersants as requested for as long as responders have the need.
"To date sales related to these dispersants have not had a material financial impact on our company," said Nalco Chairman and CEO Erik Fyrwald. "But it is impossible to predict at this time how long this incident will last or the magnitude of the overall response needed."
"Our suppliers have shown us great support in getting us the raw materials we need," Fyrwald added. "This has really been an industry-wide effort to limit the impacts of the spill. We all are committed to helping the people and environment of the Gulf Coast recover as rapidly as possible."
About Nalco (NYSE:NLC)
Nalco is the world's leading water treatment and process improvement company, delivering significant environmental, social and economic performance benefits to our customers. We help our customers reduce energy, water and other natural resource consumption, enhance air quality, minimize environmental releases and improve productivity and end products while boosting the bottom line. Together our comprehensive solutions contribute to the sustainable development of customer operations. Nalco is a member of the Dow Jones Sustainability World Index. More than 11,500 Nalco employees operate in 150 countries supported by a comprehensive network of manufacturing facilities, sales offices and research centers to serve a broad range of end markets. In 2009, Nalco achieved sales of more than $3.7 billion.
Follow us on Twitter at www.twitter.com/Nalco_News and www.twitter.com/NalcoCompany.
This news release includes forward-looking statements, reflecting current analysis and expectations, based on what are believed to be reasonable assumptions. Forward-looking statements may involve known and unknown risks, uncertainties and other factors, which may cause the actual results to differ materially from those projected, stated or implied, depending on many factors, including, without limitation: ability to generate cash, ability to raise capital, ability to refinance, the result of the pursuit of strategic alternatives, ability to execute work process redesign and reduce costs, ability to execute price increases, business climate, business performance, economic and competitive uncertainties, higher manufacturing costs, reduced level of customer orders, changes in strategies, risks in developing new products and technologies, environmental and safety regulations and clean-up costs, foreign exchange rates, the impact of changes in the regulation or value of pension fund assets and liabilities, changes in generally accepted accounting principles, adverse legal and regulatory developments, including increases in the number or financial exposures of claims, lawsuits, settlements or judgments, or the inability to eliminate or reduce such financial exposures by collecting indemnity payments from insurers, the impact of increased accruals and reserves for such exposures, weather-related factors, and adverse changes in economic and political climates around the world, including terrorism and international hostilities, and other risk factors identified by the Company. Accordingly, there can be no assurance that the Company will meet future results, performance or achievements expressed or implied by such forward-looking statements. This paragraph is included to provide safe harbor for forward-looking statements, which are not generally required to be publicly revised as circumstances change, and which the Company does not intend to update.
Contact:
Nalco CompanyMedia Contact:Charlie Pajor 630 305 1556 cpajor@nalco.comInvestor Contact:Mike Bushman 630 305 1025 mbushman@nalco.com
______________________________________________
Research water stocks - more info
Investorideas.com and www.Water-Stocks.com are positioning to be a leading destination for cleantech investors researching the water space. The new water news feed Water Stocks News at Investorideas.com and the global water stocks directory are two of the top tools available in addition to industry commentary and interviews. Visit the water stocks directory to research publicly traded water companies: http://www.investorideas.com/Water-Stocks/Stock_List.asp
NAPERVILLE, Ill., May 3, 2010 (Investorideas.com water stocks newswire ) -- Nalco (NYSE:NLC) confirmed it is providing oil dispersants and support to BP and the responders dealing with the oil spill in the Gulf of Mexico. The company will continue to provide these dispersants as requested for as long as responders have the need.
"To date sales related to these dispersants have not had a material financial impact on our company," said Nalco Chairman and CEO Erik Fyrwald. "But it is impossible to predict at this time how long this incident will last or the magnitude of the overall response needed."
"Our suppliers have shown us great support in getting us the raw materials we need," Fyrwald added. "This has really been an industry-wide effort to limit the impacts of the spill. We all are committed to helping the people and environment of the Gulf Coast recover as rapidly as possible."
About Nalco (NYSE:NLC)
Nalco is the world's leading water treatment and process improvement company, delivering significant environmental, social and economic performance benefits to our customers. We help our customers reduce energy, water and other natural resource consumption, enhance air quality, minimize environmental releases and improve productivity and end products while boosting the bottom line. Together our comprehensive solutions contribute to the sustainable development of customer operations. Nalco is a member of the Dow Jones Sustainability World Index. More than 11,500 Nalco employees operate in 150 countries supported by a comprehensive network of manufacturing facilities, sales offices and research centers to serve a broad range of end markets. In 2009, Nalco achieved sales of more than $3.7 billion.
Follow us on Twitter at www.twitter.com/Nalco_News and www.twitter.com/NalcoCompany.
This news release includes forward-looking statements, reflecting current analysis and expectations, based on what are believed to be reasonable assumptions. Forward-looking statements may involve known and unknown risks, uncertainties and other factors, which may cause the actual results to differ materially from those projected, stated or implied, depending on many factors, including, without limitation: ability to generate cash, ability to raise capital, ability to refinance, the result of the pursuit of strategic alternatives, ability to execute work process redesign and reduce costs, ability to execute price increases, business climate, business performance, economic and competitive uncertainties, higher manufacturing costs, reduced level of customer orders, changes in strategies, risks in developing new products and technologies, environmental and safety regulations and clean-up costs, foreign exchange rates, the impact of changes in the regulation or value of pension fund assets and liabilities, changes in generally accepted accounting principles, adverse legal and regulatory developments, including increases in the number or financial exposures of claims, lawsuits, settlements or judgments, or the inability to eliminate or reduce such financial exposures by collecting indemnity payments from insurers, the impact of increased accruals and reserves for such exposures, weather-related factors, and adverse changes in economic and political climates around the world, including terrorism and international hostilities, and other risk factors identified by the Company. Accordingly, there can be no assurance that the Company will meet future results, performance or achievements expressed or implied by such forward-looking statements. This paragraph is included to provide safe harbor for forward-looking statements, which are not generally required to be publicly revised as circumstances change, and which the Company does not intend to update.
Contact:
Nalco CompanyMedia Contact:Charlie Pajor 630 305 1556 cpajor@nalco.comInvestor Contact:Mike Bushman 630 305 1025 mbushman@nalco.com
______________________________________________
Research water stocks - more info
Investorideas.com and www.Water-Stocks.com are positioning to be a leading destination for cleantech investors researching the water space. The new water news feed Water Stocks News at Investorideas.com and the global water stocks directory are two of the top tools available in addition to industry commentary and interviews. Visit the water stocks directory to research publicly traded water companies: http://www.investorideas.com/Water-Stocks/Stock_List.asp
Monday, May 3, 2010
Water Stocks; Nalco (NYSE: NLC) Spikes on News BP (NYSE: BP) Testing Chemicals for Oil Spill
Water Stocks; Nalco (NYSE: NLC) Spikes on News BP (NYSE: BP) Testing Chemicals for Oil Spill
Point Roberts WA, DELTA, BC May 3, 2010 www.Water-Stocks.com, an investor and industry portal for the water sector within Investorideas.com, reports water stock Nalco (NYSE: NLC) is trading up on significant volume on news reported from CBBC that BP (NYSE: BP) announced it has tested a chemical from Nalco that can attach itself to the oil . The stock has had a day trading range of $25.26- $29.25, as of this report.
CNBC News Report- BP Finds Chemical That Disperses Oil in Deep Water
http://www.cnbc.com/id/36886842?__source=yahoo%7Cheadline%7Cquote%7Ctext%7C&par=yahoo
About Nalco (NYSE: NLC)
Nalco is the world's leading water treatment and process improvement company, delivering significant environmental, social and economic performance benefits to our customers. We help our customers reduce energy, water and other natural resource consumption, enhance air quality, minimize environmental releases and improve productivity and end products while boosting the bottom line. Together our comprehensive solutions contribute to the sustainable development of customer operations. Nalco is a member of the Dow Jones Sustainability World Index. More than 11,500 Nalco employees operate in 150 countries supported by a comprehensive network of manufacturing facilities, sales offices and research centers to serve a broad range of end markets. In 2009, Nalco achieved sales of more than $3.7 billion
http://www.nalco.com/
Energy Services - http://www.nalco.com/industries/energy-oil-gas.htm
About Water-stocks.com Investorideas.com and www.Water-Stocks.com are positioning to be a leading destination for cleantech investors researching the water space.
www.Water-Stocks.com, a portal within the InvestorIdeas.com content umbrella, offers investors research tools, news, Blogs, online conferences, Podcasts, interviews and a directory of public companies within the water sector.
Investors following the water sector can subscribe to the news feed at http://www.investorideas.com/RSS/feeds/Water-Stocks.xml.
Water-Stocks.com features water columns for investors following the sector; ‘Hydrocommerce Corner - Where Water & Money Meet’ with Bill Brennan and ‘BlueTech Tracker’ with Paul O'Callaghan.
Investors following publicly traded water companies can research water stocks at the water stocks directory.
The directory features publicly traded water stocks listed on the TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM, Hong Kong, China and other leading global Stock Exchanges . The stock directory features water stocks including desalination companies , bottled water stocks, infrastructure, water treatment and technology as well as other sub sectors.
Directory : http://investorideas.com/Water-Stocks/Stock_List.asp
About InvestorIdeas.com:
Investorideas.com creates a meeting place for investing ideas to take form and come to life in an entrepreneurial environment, servicing the needs of small investors and start- up companies to large conglomerates! We cover multiple industry sectors but specialize in environmental and water.
Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured showcase companies MSEX, news submissions and online advertising. Compensation Disclosure and disclaimers: www.InvestorIdeas.com/About/Disclaimer.asp, http://www.investorideas.com/About/News/Clientspecifics.asp
For More info on Water-stocks.com
Contact:
Dawn Van Zant 800-665-0411
Email: dvanzant@investorideas.com
Web Site: www.InvestorIdeas.com http://www.water-stocks.com/
Source: Water-Stocks.com, Investorideas.com
Point Roberts WA, DELTA, BC May 3, 2010 www.Water-Stocks.com, an investor and industry portal for the water sector within Investorideas.com, reports water stock Nalco (NYSE: NLC) is trading up on significant volume on news reported from CBBC that BP (NYSE: BP) announced it has tested a chemical from Nalco that can attach itself to the oil . The stock has had a day trading range of $25.26- $29.25, as of this report.
CNBC News Report- BP Finds Chemical That Disperses Oil in Deep Water
http://www.cnbc.com/id/36886842?__source=yahoo%7Cheadline%7Cquote%7Ctext%7C&par=yahoo
About Nalco (NYSE: NLC)
Nalco is the world's leading water treatment and process improvement company, delivering significant environmental, social and economic performance benefits to our customers. We help our customers reduce energy, water and other natural resource consumption, enhance air quality, minimize environmental releases and improve productivity and end products while boosting the bottom line. Together our comprehensive solutions contribute to the sustainable development of customer operations. Nalco is a member of the Dow Jones Sustainability World Index. More than 11,500 Nalco employees operate in 150 countries supported by a comprehensive network of manufacturing facilities, sales offices and research centers to serve a broad range of end markets. In 2009, Nalco achieved sales of more than $3.7 billion
http://www.nalco.com/
Energy Services - http://www.nalco.com/industries/energy-oil-gas.htm
About Water-stocks.com Investorideas.com and www.Water-Stocks.com are positioning to be a leading destination for cleantech investors researching the water space.
www.Water-Stocks.com, a portal within the InvestorIdeas.com content umbrella, offers investors research tools, news, Blogs, online conferences, Podcasts, interviews and a directory of public companies within the water sector.
Investors following the water sector can subscribe to the news feed at http://www.investorideas.com/RSS/feeds/Water-Stocks.xml.
Water-Stocks.com features water columns for investors following the sector; ‘Hydrocommerce Corner - Where Water & Money Meet’ with Bill Brennan and ‘BlueTech Tracker’ with Paul O'Callaghan.
Investors following publicly traded water companies can research water stocks at the water stocks directory.
The directory features publicly traded water stocks listed on the TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM, Hong Kong, China and other leading global Stock Exchanges . The stock directory features water stocks including desalination companies , bottled water stocks, infrastructure, water treatment and technology as well as other sub sectors.
Directory : http://investorideas.com/Water-Stocks/Stock_List.asp
About InvestorIdeas.com:
Investorideas.com creates a meeting place for investing ideas to take form and come to life in an entrepreneurial environment, servicing the needs of small investors and start- up companies to large conglomerates! We cover multiple industry sectors but specialize in environmental and water.
Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured showcase companies MSEX, news submissions and online advertising. Compensation Disclosure and disclaimers: www.InvestorIdeas.com/About/Disclaimer.asp, http://www.investorideas.com/About/News/Clientspecifics.asp
For More info on Water-stocks.com
Contact:
Dawn Van Zant 800-665-0411
Email: dvanzant@investorideas.com
Web Site: www.InvestorIdeas.com http://www.water-stocks.com/
Source: Water-Stocks.com, Investorideas.com
Wednesday, April 28, 2010
Water Stocks; Energy Recovery Inc’s (NASDAQ: ERII) Pump Engineering Triumphs with Distinction Award for Water Technology Company of the Year
Water Stocks; Energy Recovery Inc’s (NASDAQ: ERII) Pump Engineering Triumphs with Distinction Award for Water Technology Company of the Year
Industry-Leading Energy Recovery Devices Lauded for Innovative Global Desalination Application; Energy Recovery also Recognized as Integral to the Desalination Plant of the Year
SAN LEANDRO, Calif.--(Investorideas.com water stocks newswire )--Energy Recovery Inc (NASDAQ: ERII), a leader in the design and development of energy recovery devices for desalination, today announced that Pump Engineering (acquired by Energy Recovery in 2009) received the Distinction Award in the Water Technology Company of the Year category as part of the Global Water Intelligence Global Water Awards 2010. Energy Recovery was also recognized as part of the Desalination Plant of the Year Award for the inclusion of the company’s industry-leading PX Pressure Exchanger™ (PX™) energy recovery devices as an integral component at the Barcelona-Llobregat desalination plant in Spain.
“The Global Water Awards recognize industry visionaries and technology innovators, highlighting those companies and projects that set the standard for the global water industry to follow”
.“The 2010 Global Water Awards represent a crowning achievement for Energy Recovery from both a business and a technology perspective,” said G.G. Pique, president and CEO of Energy Recovery Inc. “The recognition of Pump Engineering as the Distinction Award winner in the Water Technology Company of the Year category further validates the significance of that strategic acquisition, and the Barcelona-Llobregat desalination plant being selected as the Desalination Plant of the Year demonstrates just how vital our PX devices are to the success of a seawater reverse osmosis (SWRO) desalination facility. We are grateful to Global Water Intelligence and the entire international water industry for their continued recognition of Energy Recovery as a global industry business and technology leader.”
The Global Water Intelligence Global Water Awards recognize the most significant achievements in the global water industry during the past year, and the Water Technology Company of the Year acknowledges the company that has made the most significant contribution in the field of water technology. Pump Engineering, a leading provider of centrifugal turbine energy-saving technology for seawater and brackish desalination applications, was selected as the Distinction Award winner for its considerable achievements in 2009, including doubling global market share and securing a contract for its energy recovery devices at the Magtaa desalination plant in Algeria. Pump Engineering’s success in 2009 culminated in the December acquisition by Energy Recovery Inc, creating one of the industry’s most comprehensive portfolios of energy recovery devices and fluid processing systems for SWRO desalination as well as for oil and gas processing.
In addition, Energy Recovery was also recognized for the integration of its PX devices into the Barcelona-Llobregat desalination plant, the winner of the Desalination Plant of the Year Award. Producing 200,000 m3/day of potable water for metropolitan Barcelona, the SWRO facility is the largest in Europe. By reducing the energy consumed during the SWRO desalination process by up to 60 percent, Energy Recovery is helping the Barcelona-Llobregat and other global facilities cost-effectively produce fresh, clean water.
“The Global Water Awards recognize industry visionaries and technology innovators, highlighting those companies and projects that set the standard for the global water industry to follow,” said Christopher Gasson, publisher of Global Water Intelligence. “Energy Recovery and Pump Engineering have long been two of the industry’s established leaders, so it is no surprise that the combined entity has been acknowledged for its cutting-edge technology achievements as well as for the practical application of its solutions. We applaud Energy Recovery and look forward to continued success from the company in 2010 and beyond.”
Energy Recovery's PX devices operate at up to 98 percent efficiency and reduce the energy consumption of SWRO systems by up to 60 percent, making desalination a cost-effective solution for clean water supply. PX devices also reduce the carbon footprint of desalination, saving more than 900 MW of energy and reducing CO2 emissions by more than 4.7 million tons per year worldwide. More than 10,000 of Energy Recovery’s devices are currently deployed or under contract to be installed at desalination plants across the globe. For more information about Energy Recovery's PX Pressure Exchanger technology, visit http://www.energyrecovery.com or send an email to info@energyrecovery.com.
About Energy Recovery Inc
Energy Recovery Inc (NASDAQ:ERII) designs and develops energy recovery devices that help make desalination affordable by significantly reducing energy consumption. Energy Recovery technologies include the PX Pressure Exchanger™ (PX™) device for desalination and the Turbocharger hydraulic turbine energy recovery device and pumps for desalination, gas and liquid processing applications. In total, Energy Recovery helps reduce CO2 emissions by more than 4.7 million tons per year and produce 1.6 billion gallons of potable water per day. The company is headquartered in the San Francisco Bay Area with offices in Detroit and in key desalination centers worldwide, including Madrid, Shanghai and the United Arab Emirates. For more information about Energy Recovery Inc, please visit www.energyrecovery.com.
_____________________________________________
more water stocks info:
Investorideas.com and www.Water-Stocks.com are positioning to be a leading destination for cleantech investors researching the water space. The new water news feed Water Stocks News at Investorideas.com and the global water stocks directory are two of the top tools available in addition to industry commentary and interviews. Visit the water stocks directory to research publicly traded water companies: http://www.investorideas.com/Water-Stocks/Stock_List.asp
Industry-Leading Energy Recovery Devices Lauded for Innovative Global Desalination Application; Energy Recovery also Recognized as Integral to the Desalination Plant of the Year
SAN LEANDRO, Calif.--(Investorideas.com water stocks newswire )--Energy Recovery Inc (NASDAQ: ERII), a leader in the design and development of energy recovery devices for desalination, today announced that Pump Engineering (acquired by Energy Recovery in 2009) received the Distinction Award in the Water Technology Company of the Year category as part of the Global Water Intelligence Global Water Awards 2010. Energy Recovery was also recognized as part of the Desalination Plant of the Year Award for the inclusion of the company’s industry-leading PX Pressure Exchanger™ (PX™) energy recovery devices as an integral component at the Barcelona-Llobregat desalination plant in Spain.
“The Global Water Awards recognize industry visionaries and technology innovators, highlighting those companies and projects that set the standard for the global water industry to follow”
.“The 2010 Global Water Awards represent a crowning achievement for Energy Recovery from both a business and a technology perspective,” said G.G. Pique, president and CEO of Energy Recovery Inc. “The recognition of Pump Engineering as the Distinction Award winner in the Water Technology Company of the Year category further validates the significance of that strategic acquisition, and the Barcelona-Llobregat desalination plant being selected as the Desalination Plant of the Year demonstrates just how vital our PX devices are to the success of a seawater reverse osmosis (SWRO) desalination facility. We are grateful to Global Water Intelligence and the entire international water industry for their continued recognition of Energy Recovery as a global industry business and technology leader.”
The Global Water Intelligence Global Water Awards recognize the most significant achievements in the global water industry during the past year, and the Water Technology Company of the Year acknowledges the company that has made the most significant contribution in the field of water technology. Pump Engineering, a leading provider of centrifugal turbine energy-saving technology for seawater and brackish desalination applications, was selected as the Distinction Award winner for its considerable achievements in 2009, including doubling global market share and securing a contract for its energy recovery devices at the Magtaa desalination plant in Algeria. Pump Engineering’s success in 2009 culminated in the December acquisition by Energy Recovery Inc, creating one of the industry’s most comprehensive portfolios of energy recovery devices and fluid processing systems for SWRO desalination as well as for oil and gas processing.
In addition, Energy Recovery was also recognized for the integration of its PX devices into the Barcelona-Llobregat desalination plant, the winner of the Desalination Plant of the Year Award. Producing 200,000 m3/day of potable water for metropolitan Barcelona, the SWRO facility is the largest in Europe. By reducing the energy consumed during the SWRO desalination process by up to 60 percent, Energy Recovery is helping the Barcelona-Llobregat and other global facilities cost-effectively produce fresh, clean water.
“The Global Water Awards recognize industry visionaries and technology innovators, highlighting those companies and projects that set the standard for the global water industry to follow,” said Christopher Gasson, publisher of Global Water Intelligence. “Energy Recovery and Pump Engineering have long been two of the industry’s established leaders, so it is no surprise that the combined entity has been acknowledged for its cutting-edge technology achievements as well as for the practical application of its solutions. We applaud Energy Recovery and look forward to continued success from the company in 2010 and beyond.”
Energy Recovery's PX devices operate at up to 98 percent efficiency and reduce the energy consumption of SWRO systems by up to 60 percent, making desalination a cost-effective solution for clean water supply. PX devices also reduce the carbon footprint of desalination, saving more than 900 MW of energy and reducing CO2 emissions by more than 4.7 million tons per year worldwide. More than 10,000 of Energy Recovery’s devices are currently deployed or under contract to be installed at desalination plants across the globe. For more information about Energy Recovery's PX Pressure Exchanger technology, visit http://www.energyrecovery.com or send an email to info@energyrecovery.com.
About Energy Recovery Inc
Energy Recovery Inc (NASDAQ:ERII) designs and develops energy recovery devices that help make desalination affordable by significantly reducing energy consumption. Energy Recovery technologies include the PX Pressure Exchanger™ (PX™) device for desalination and the Turbocharger hydraulic turbine energy recovery device and pumps for desalination, gas and liquid processing applications. In total, Energy Recovery helps reduce CO2 emissions by more than 4.7 million tons per year and produce 1.6 billion gallons of potable water per day. The company is headquartered in the San Francisco Bay Area with offices in Detroit and in key desalination centers worldwide, including Madrid, Shanghai and the United Arab Emirates. For more information about Energy Recovery Inc, please visit www.energyrecovery.com.
_____________________________________________
more water stocks info:
Investorideas.com and www.Water-Stocks.com are positioning to be a leading destination for cleantech investors researching the water space. The new water news feed Water Stocks News at Investorideas.com and the global water stocks directory are two of the top tools available in addition to industry commentary and interviews. Visit the water stocks directory to research publicly traded water companies: http://www.investorideas.com/Water-Stocks/Stock_List.asp
Saturday, April 17, 2010
Water Stocks; Watts Water Technologies, Inc.(NYSE :WTS) Completes Acquisition of Blue Ridge Atlantic Enterprises
Water Stocks; Watts Water Technologies, Inc.(NYSE :WTS) Completes Acquisition of Blue Ridge Atlantic Enterprises
NORTH ANDOVER, Mass.--(http://www.investorideas.com/ water stocks newswire )-Watts Water Technologies, Inc. (NYSE :WTS) announced today that it completed the acquisition of Blue Ridge Atlantic Enterprises (BRAE) in a share purchase transaction.
BRAE is a leading provider of engineered rain water harvesting solutions and addresses the commercial, industrial and residential markets. BRAE’s rain water harvesting systems are an integral part of the Green movement to conserve water and can contribute up to 30% of LEED points available for Green buildings.
The acquisition of BRAE is a positive addition to the Watts Drainage platform as it expands our product offering and provides Watts with a source of expert knowledge for national and local codes. BRAE has annual revenues of approximately $2 Million.
Watts Water Technologies, Inc. is a world leader in the manufacture of innovative products to control the efficiency, safety, and quality of water within residential, commercial, and institutional applications. Its expertise in a wide variety of water technologies enables it to be a comprehensive supplier to the water industry.
Contacts
Watts Water Technologies, Inc.
William C. McCartney, 978-688-1811
Fax: 978-688-2976
_______________________________________
More water stocks info :
Investorideas.com and http://www.water-stocks.com/ are positioning to be a leading destination for cleantech investors researching the water space. The new water news feed Water Stocks News at Investorideas.com and the global water stocks directory are two of the top tools available in addition to industry commentary and interviews.
Visit the water stocks directory to research publicly traded water companies:
http://www.investorideas.com/Water-Stocks/Stock_List.asp
NORTH ANDOVER, Mass.--(http://www.investorideas.com/ water stocks newswire )-Watts Water Technologies, Inc. (NYSE :WTS) announced today that it completed the acquisition of Blue Ridge Atlantic Enterprises (BRAE) in a share purchase transaction.
BRAE is a leading provider of engineered rain water harvesting solutions and addresses the commercial, industrial and residential markets. BRAE’s rain water harvesting systems are an integral part of the Green movement to conserve water and can contribute up to 30% of LEED points available for Green buildings.
The acquisition of BRAE is a positive addition to the Watts Drainage platform as it expands our product offering and provides Watts with a source of expert knowledge for national and local codes. BRAE has annual revenues of approximately $2 Million.
Watts Water Technologies, Inc. is a world leader in the manufacture of innovative products to control the efficiency, safety, and quality of water within residential, commercial, and institutional applications. Its expertise in a wide variety of water technologies enables it to be a comprehensive supplier to the water industry.
Contacts
Watts Water Technologies, Inc.
William C. McCartney, 978-688-1811
Fax: 978-688-2976
_______________________________________
More water stocks info :
Investorideas.com and http://www.water-stocks.com/ are positioning to be a leading destination for cleantech investors researching the water space. The new water news feed Water Stocks News at Investorideas.com and the global water stocks directory are two of the top tools available in addition to industry commentary and interviews.
Visit the water stocks directory to research publicly traded water companies:
http://www.investorideas.com/Water-Stocks/Stock_List.asp
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