INVESTOR OPPORTUNITIES IN OUR WORLD-LEADING NICHE BUSINESSES - - PowerPoint PPT Presentation

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INVESTOR OPPORTUNITIES IN OUR WORLD-LEADING NICHE BUSINESSES - - PowerPoint PPT Presentation

INVESTOR OPPORTUNITIES IN OUR WORLD-LEADING NICHE BUSINESSES Watson-Marlow Steam Specialties Electric Thermal Solutions 0 Investor opportunities March 2020 Engineering every day A British multi-national engineering group Three world-leading


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0 Investor opportunities March 2020

Engineering every day

INVESTOR OPPORTUNITIES

IN OUR WORLD-LEADING NICHE BUSINESSES

Steam Specialties Electric Thermal Solutions Watson-Marlow

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1 Investor opportunities March 2020

Engineering every day

Business model

  • Direct sales model key to delivering

customer value

  • Large diversity of customers,

geographies, markets and products

  • 85% of sales from maintenance and

repair budgets (35% self-generated)

  • Sales presence in 66 countries;

manufacturing in 14 countries

Performance

  • Average revenue growth: 7% per annum

(excluding 2017 acquisitions)

  • Revenue growth tracks 2x Global Industrial

Production growth rate

  • Good operating profit margins: 22.8% (2019)
  • Robust balance sheet; strong cash generation
  • Return on capital employed: 54.2% (2019)
  • 52 year dividend progress: 11% CAGR
  • Special dividends in 2010, 2012 and 2014

A British multi-national engineering group Three world-leading niche engineering businesses Global addressable market: £9.0bn; 14% market share

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2 Investor opportunities March 2020

Engineering every day

Group structure

Three world-leading niche businesses

Watson-Marlow: niche peristaltic pumps and associated fluid path technologies

www.wmftg.com

Electric Thermal Solutions: electrical process heating and temperature management solutions

www.chromalox.com www.thermocoax.com

Steam Specialties EMEA Asia Pacific Americas Electric Thermal Solutions Watson-Marlow

2019 Group Revenue

Thermal Energy Management Steam Specialties: industrial and commercial steam systems

www.spiraxsarco.com www.gestra.com

61% 15% 24%

£1,242m

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3 Investor opportunities March 2020

Engineering every day

Steam uses: heating and curing, cleaning, sterilisation, hot water generation, space heating and humidification Benefits of steam: high energy content, easy to control, environmentally safe, clean and sterile Products: steam traps, control valves, condensate recovery pumps, strainers, separators, flow meters, boiler controls and pre-fabricated engineered packages Delivering: improved process efficiency and product quality; reduced CO₂ emissions, energy and water use, waste and maintenance downtime; compliance with industry standards

Steam Specialties

Pre-fabricated engineered packages for heat transfer & recovery and clean steam generation Products Packages

A one-stop shop for plant-wide applications of industrial and commercial steam systems

Solutions for the control and management of industrial steam systems

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4 Investor opportunities March 2020

Engineering every day

Uses: electric heating for mission-critical industrial processes, freeze protection for pipes, valves and tanks, and component heating Benefits of electric solutions: easy to incorporate, install and maintain; high temperatures; controllable; no emissions at point of use Products: Industrial Heaters & Systems; Heat Tracing; Component Technologies; Mineral insulated cable Delivering: efficient thermal energy management and control solutions for improved industrial processes

Products Packages

Advanced thermal technologies engineered for the world’s toughest industrial heating applications

Pre-fabricated engineered packages for process heating and temperature management

Electric Thermal Solutions

Solutions for process heating and temperature management

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5 Investor opportunities March 2020

Engineering every day

Complementarity of steam and electric heating

Thermal Energy Management: electricity and steam have complementary uses. The choice between heating mediums is driven by application needs or customer circumstances.

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6 Investor opportunities March 2020

Engineering every day

Uses: pumping and fluid control in a broad range of critical applications, from chemical dosing to Biopharm production Benefits of peristaltic pump technology: sterile applications (pump does not touch fluid), dirty applications (fluid does not touch pump), sustainable, low-shear, low maintenance and accurate Products: speciality positive displacement pumps, automated filling machines, tubing, hoses and fluid path components Delivering: accurate, safe, efficient, sterile, low maintenance solutions for the fluid path

Products Peristaltic

Business built around unique pumping and niche fluid path technologies

  • Principle: rollers squeeze tubing for gentle pumping action
  • Contamination free: no moving parts in contact with fluid
  • Low maintenance: fewer wearing parts
  • Accuracy: precise dosing and metering

Watson-Marlow

Solutions for the control and management of industrial fluid paths

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7 Investor opportunities March 2020

Engineering every day

Our direct sales business model

Positioning us well to create value

Customer needs: We help our customers to solve their difficult productivity and process challenges, improve their operational sustainability and comply with increasingly stringent health, safety and environmental requirements. Customer closeness: Our direct sales business model creates a unique understanding of our customers’ needs and enables us to build deep, long-term relationships as we help our customers solve their difficult productivity, control and energy efficiency problems, and improve their operational performance and sustainability. Applied engineering: It is not our products alone that provide value to our customers - it is the application of our extensive knowledge of systems design, operations and maintenance. Wide product range: The breadth of our product offering is unmatched by our competitors and our one-stop shop approach simplifies the procurement process for our customers who are increasingly seeking partnerships with competent full-service suppliers. Regional manufacturing: Local availability of a wide range of products is critical to our business model and enhances top line revenue

  • growth. We have strategically located our manufacturing plants across the

world, in Europe, North America, Latin America and Asia.

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Customer capex vs opex spend

Sales by value driver*

Maintenance and repair sales that maintain existing systems, supported by the end users’ opex budgets, with a typical invoice value of around £1k Small project sales that improve existing systems, supported by the end users’ opex budgets, with a typical invoice value of £10k-£50k Large project sales that build new systems, supported by the end users’ capex budgets, with a typical invoice value of

  • ver £100k

85%

  • f Group revenue is generated

from annual maintenance and

  • perational budgets

* Based on internal estimates

Self-generated sales

Our sales and service engineers are highly skilled in both product applications and systems understanding. We self-generate sales as we identify our customers’ unrecognised needs and solve their difficult process challenges.

50% 35% 15%

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17% 3% 18% 13% 7% 6% 5% 4% 3% 3% 3% 2% 1% 1% 14%

Group Sales 2019

Food Beverage Pharmaceutical & Biotechnology OEM machinery Oil & Gas Chemical Power Generation Healthcare Buildings Mining & Precious Metal Processing Water & Wastewater Pulp & Paper Rubber & Plastic Semiconductor Other

50% of Group

revenue derived from defensive, less cyclical, end markets

85% of Group

revenue derived from annual maintenance and

  • perating budgets,

rather than large projects from capex budgets

Based on internal estimates

Diverse markets and broad customer base

Where there is little visibility of end user industry sector (primarily in sales via distributors), sales have been allocated across industries on a pro-rata basis. In 2019 these “unknown” sales accounted for 20% of total revenue. OEM sales to identifiable industries have been allocated to those industries. Sales to OEM customers accounted for 20% of Group revenue in 2019. Revenue by industry sector includes full year sales for Thermocoax, acquired in May 2019.

A source of resilience

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10 Investor opportunities March 2020

Engineering every day

Food Steam is used for blanching, cooking, baking, packaging, cleaning and

  • sterilising. Electric heating

elements are used in commercial food

  • equipment. Pumps are

used to meter ingredients, deliver food to process lines and handle process waste. Beverage Steam is essential for brewing and distilling

  • processes. It is used to

protect product quality and flavour, and ensure compliance with industry

  • standards. Pumps are

used to transfer fruit, juice, concentrates, yeast and other additives. OEM Machinery Original Equipment Manufacturers (OEMs) are companies that build and supply machines for use in industry. Our activities with OEMs vary from simple product supply to advising on machine performance improvements and process plant design. Oil & Gas Electrical heating products increase fluid viscosity, deliver freeze protection and help separate natural gas, crude oil and water during extraction. Our steam products enable

  • ptimum steam system

performance and reduce energy use during oil and gas production. Pharmaceutical & Biotechnology Clean steam reduces the risk of product and process contamination; electrical heating is used in a wide range of process heating applications; our peristaltic pumps, valves and single- use components enable precise flow control and fluid isolation.

Applications in diverse industrial sectors

Healthcare Steam is used in hospitals and clinics for space heating, hot water production, humidification and sterilisation. Pumps and associated equipment are used in the manufacture of products for the Healthcare industry. Chemical Steam and electricity are widely used as an energy source in chemical production and product processing, while our pumps are used to safely and accurately transfer and dose critical chemical components. Buildings (HVAC) Steam is used to provide space heating, humidification and hot water in public and private buildings, while

  • ur electrical products

are used for hot water and heat generation, snow melting, gutter and roof de-icing, and frost- heave prevention. Water & Wastewater Peristaltic pumps are used to dose chemicals during water treatment processes and to transfer viscous and abrasive

  • slurries. Electric heating

solutions provide freeze protection, temperature maintenance and space heating in water treatment plants. Mining & Precious Metal Processing Peristaltic pumps reduce water, energy and chemical use and increase productivity while moving and processing abrasive

  • res and slurries. Electrical

heating is used for temperature maintenance and space heating for workers. Pulp & Paper Our steam, electric and pump products facilitate the accurate control of critical processes, such as washing, bleaching, dyeing, drying and finishing, in the manufacture of paper and a wide range of domestic and industrial tissues. Power Generation Electrical heat technologies are widely used to optimise power generation. Steam turbines transfer chemical energy in fuel into electrical energy and steam is used to distribute and re-use waste heat formed during the power generation process.

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Engineering every day

Industrial production growth rates

An important driver of growth

  • 2.0%
  • 1.0%

0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% Q1 Q2 Q3Q4 Q1 Q2Q3 Q4 Q1 Q2Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2012 2013 2014 2015 2016 2017 2018 2019 2020

Developed (OECD) Emerging (Non-OECD) Global

Source: Oxford Economics, February 2020

Forecast 1.1% 1.5% 3.6% 3.1% 1.0% 0.8% % = Annual average 3.0% 2.1% 1.9%

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12 Investor opportunities March 2020

Engineering every day

Drivers of strong growth

  • Biopharm industry growing

at c.10% per annum

  • Geographical expansion
  • Displacement of other pump types

External

  • Industrial production growth
  • Population growth
  • Energy and natural resource saving

targets

  • Rising regulatory requirements

Internal

  • Geographic expansion
  • New product development
  • Business strategy
  • Regional manufacturing strategy

Organic growth drivers:

Watson-Marlow growth drivers:

Inorganic growth drivers: Bolt-on or related acquisitions

  • New technologies
  • Increased geographic coverage
  • Expansion of addressable market
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13 Investor opportunities March 2020

Engineering every day

Our unique global coverage

Key facts:

  • Over 8,000 employees
  • Over 1,600 direct sales

engineers

  • Direct sales presence in 66

countries

  • 130 operating units*
  • Serving customers in 130

countries

  • 46 operating units established
  • r acquired (2017-2019)

* Operating units are business units that invoice locally. Global coverage at year end 2019.

Operating units* (47 countries) Sales offices (19 countries) Indirect presence (64 countries) Number of countries: Operating units Sales

  • ffices

Indirect presence Total Steam Specialties 45 21 64 130 Watson-Marlow 36 1 29 66 Electric Thermal Solutions 12 7 23 42

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Manufacturing footprint

30 manufacturing units in 14 countries

EMEA: UK (x4) Italy (x2) France (x3) Germany (x3) Netherlands Denmark Sweden Americas: USA (x6) Argentina Brazil (x2) Mexico (x2) Asia Pacific: China (x2) India Japan Steam Specialties manufacturing site Electric Thermal Solutions manufacturing site Watson-Marlow manufacturing site

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Engineering every day

Good regional coverage

Revenue

Emerging markets: 35% of sales and 41% of operating profit

Americas: 34%

Emerging markets: 7%

EMEA: 42%

Emerging markets: 7%

Asia Pacific: 24%

Emerging markets: 21% Steam 23% ETS 68% WM 41% Steam 44% ETS 25% WM 46% Steam 33% ETS 7% WM 13%

Steam – Steam Specialties ETS – Electric Thermal Solutions WM – Watson-Marlow Includes full year sales for Thermocoax, acquired in May 2019

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Engineering every day

£9.0 billion market size

14% market share

Source: based on internal estimates. Electric Thermal Solutions Market share includes full year sales for Thermocoax, acquired in May 2019

2019 total addressable market

£9.0bn

Steam Specialties market Steam Specialties market share 16% Watson-Marlow market share 20% Niche pumps and associated equipment market Electrical thermal solutions market Electric Thermal Solutions market share 7%

£4.7bn £2.8bn £1.5bn

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17 Investor opportunities March 2020

Engineering every day

Company purpose

To create sustainable value for all our stakeholders as we engineer a more efficient, safer and sustainable world.

We are engineering a more efficient, safer and sustainable world. For everyone. Every day. We create sustainable value for:

Shareholders who benefit from strong financial returns and a progressive dividend policy that has delivered over 50 years of dividend growth. Customers who use our products and services to increase operating efficiency, improve product quality, optimise plant safety, meet sustainability targets and reduce costs. Employees who advance their careers in safe, inclusive and collaborative workplaces. Suppliers that we engage with for continuous improvement and responsibly sourced materials and services. Communities that we support through employee volunteering and charitable contributions. Environment, which benefits from the solutions we provide to customers to reduce their carbon emissions, water and waste, and the activities we undertake to reduce our own environmental impacts.

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18 Investor opportunities March 2020

Engineering every day

  • To be the world leader in steam and

thermal energy solutions

  • Intensify customer focus through

enhanced customer value propositions

  • Focus on priority industries
  • Competitive advantage through

enhanced knowledge and skills

  • Increase R&D effectiveness
  • Global excellence in the supply chain
  • Enhance market sector sales focus
  • Achieve rapid geographical expansion
  • Accelerate development of

breakthrough products

  • Attain excellence in manufacturing
  • Selective product and market sector

diversification

  • Create environments where people

thrive

Steam Specialties

Objective: Growth that outperforms our markets

Our strategy

Focus: Doing better what we already do well

  • Create significant shareholder value through supplementing organic growth
  • Expand the capabilities of our niche businesses through new technologies, skills or geographic coverage
  • Increase our addressable market into adjacent related sectors
  • To be the world leader in electrical

industrial heaters and systems

  • Pioneer new thermal technologies
  • Expand into new geographic markets
  • Market sector and application focus
  • Strengthen end-user, MRO and

solutions business

  • Stock the right products to serve

customers faster

Electric Thermal Solutions Watson-Marlow Sustainability Acquisitions

  • Operate sustainably and help improve our customers’ sustainability
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19 Investor opportunities March 2020

Engineering every day

  • Expand sector focus of the

direct sales force

  • Enhance customer value

propositions by sector

  • Increase focus on thermal

energy management within priority sectors

  • Continually improve technical

competency, skills and process knowledge

  • Expand and globalise wide-

range of training tools and materials

  • Develop unrivalled level of

expertise

  • 2. Develop the knowledge

and skills of our expert sales and service teams

  • 3. Broaden our global

presence

  • 1. Increase direct sales

effectiveness through market sector focus

  • Maximise first-to-market

advantage from early entry into emerging markets

  • Leverage existing

infrastructure to pioneer the introduction of Watson- Marlow and Electric Thermal Solutions

Six strategic themes

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20 Investor opportunities March 2020

Engineering every day

  • Leverage R&D to accelerate

growth

  • Shorter time-to-market for

new products

  • Develop products for

priority sectors

  • Complementary

acquisitions to expand addressable markets

  • Invest in regionalised

manufacturing strategy

  • Increase focus on extended

supply chain

  • Enhance product availability,

increase flexibility, improve service levels and reduce costs

  • Increase our sustainability
  • Focus on corporate

governance, employee wellbeing, community engagement and environmental stewardship

  • Provide solutions to help

customers meet their sustainability targets

Six strategic themes

  • 4. Leverage R&D

investments

  • 5. Optimise supply chain

effectiveness

  • 6. Operate sustainably and

help improve our customers’ sustainability

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21 Investor opportunities March 2020

Engineering every day Group Chief Executive Nicholas Anderson

Group Sustainability Committee

The Board

  • Health & Safety
  • Ethical business practices
  • Employment practices
  • People Development
  • Energy & Carbon
  • Water, Effluent & Waste
  • Products & Services
  • Community Engagement
  • Supplier Sustainability
  • Product Responsibility

Project Sponsors Project Leaders Employees and organised employee groups

Sustainability strategy and governance

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22 Investor opportunities March 2020

Engineering every day

Steam Specialties Watson-Marlow Electric Thermal Solutions

  • Energy and carbon savings
  • 7.2m tonnes of CO₂

emissions saved annually from products sold in 2019 Equivalent to: 3.7 million new cars taken off the road, or 327 million mature trees planted

  • Water savings
  • Waste reduction
  • Water quality
  • Improved water quality

during water and wastewater treatment

  • Water savings
  • A Bredel pump can save

900 million litres of water per year; 70% less than a centrifugal pump

  • Energy savings
  • Sine pumps use up to 50%

less energy than lobe or circumferential piston pumps

  • Electric heating solutions

produce zero emissions at point of use

  • Heating solutions can be

powered by renewable energy

  • Innovative medium

voltage range helps customers decarbonize

Improving our customers’ sustainability

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23 Investor opportunities March 2020

Engineering every day Date Acquisition: May 2017 Acquisition: July 2017 Acquisition: May 2019 Disposal: November 2018 Description Leader in advanced industrial boiler control systems; designs and produces valves and controls for steam and fluid process control Market leading provider of electrical solutions for industrial process heating and temperature management Leading designer and manufacturer of highly engineered electrical thermal solutions Leading manufacturer and brand in premium commercial and industrial air humidification equipment Consideration €186m

11.2x trailing EBITDA

US$415m

9.7x trailing EBITDA

€156m

12.1x trailing EBITDA

€59.0m (£52.3m)

12.5x trailing EBITDA

Revenue

(year before acq/disp)

€92.5m US$201m €49.8m £13.0m EBITDA (year

before acq/disp)

€16.6m US$43m €12.9m £4.1m EBIT

(year before acq/disp)

€15.2m US$37m €12.1m £3.9m Rationale Increases Steam Specialties technology and market share Expands Group addressable market by

  • ver £2 billion

Extends electrical process heating capabilities and increases market share Limited strategic fit restricts ability to improve sales growth while maintaining profitability

Recent acquisitions and disposal

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24 Investor opportunities March 2020

Engineering every day

Customer Focus: Through our expertise, passion and insight we achieve extraordinary results for customers. Collaboration: We are more successful when we trust each

  • ther and work together.

Safety: We care about people, helping them stay safe and look after their own wellbeing. Excellence: We approach challenges with passion, aiming for excellence in all we do, to build a sustainable business. Respect: Everyone matters, both inside and

  • utside our company. We respect

the natural environment and our local communities. Integrity: Success only matters when achieved fairly. We believe that winning with integrity leads to sustainable results.

Our people and values

Our values underpin decision-making, guide our conduct and shape our culture

Creating environments where

  • ur people can thrive
  • Over 8,000 people in 66 countries;

1,600 sales and service engineers

  • £2m invested in Spirax Sarco

Academy (2019)

  • Award-winning leadership

development programmes

  • Executive mentoring of high

potential females

  • Nearly 100 engineers on Group

graduate programme, in 14 countries; half female

  • Three days of paid volunteering

leave annually per employee, worldwide

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25 Investor opportunities March 2020

Engineering every day

£0 £200 £400 £600 £800 £1,000 £1,200 £1,400 10% 12% 14% 16% 18% 20% 22% 24% 26% 28% 30% 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Sterling weakens Sterling strengthens Sales prior to 2004 have been adjusted to IFRS Sterling weakens Sterling strengthens

Strong history of sales growth

Good operating profit margin expansion

Sterling weakens

Profit margin % Sales £ millions

Sales Sales from 2017 acquisitions Reported profit margin Margin excluding 2017 acquisitions

Underlying margin increased from 16.5% to 25.1%

25 year average

Sterling strengthens

Underlying 7% revenue growth (excluding 2017 acquisitions)

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Engineering every day

0.0 50.0 100.0 150.0 200.0 250.0 300.0 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

EPS DPS

Delivering shareholder value

EPS and DPS growth; 52 year dividend growth

Dividend CAGR: 12% over 10 years, 10% over 35 years and 11% over 52 years

* Plus special dividends of 25p in 2010, 100p in 2012 and 120p in 2014

Note: Figures exclude non-operating and exceptional items

p/share

Our prime financial objective is to provide enhanced value to shareholders through consistent growth in earnings and dividends per share.

* * *

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27 Investor opportunities March 2020

Engineering every day

  • 1. Invest in ourselves, organically growing our business

Investing in our strategy drives growth and margin progression

  • 2. Invest in acquisitions that fit the strategy

Strategic targeting with disciplined execution

  • 3. Reduce our debt

Net debt 0.9x EBITDA at 31st December 2019

  • 4. Return capital to shareholders

Special dividends in 2010, 2012 & 2014

Return on capital employed (ROCE) averaged over 50% p.a. for the last 5 years. Cash conversion above 80% for the last 5 years.

Capital allocation policy

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28 Investor opportunities March 2020

Engineering every day

Strong cash generation

Cash conversion measures the percentage of adjusted cash from

  • perations to adjusted operating profit
  • 20%

0% 20% 40% 60% 80% 100%

  • 400
  • 300
  • 200
  • 100

100 200 300 2014 2015 2016 2017 2018 2019 Free Cash Flow Net Cash/(Debt) Cash Converstion

£ million % cash conversion

0.8x EBITDA 0.9x EBITDA 1.4x EBITDA

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Engineering every day

Appendices

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30 Investor opportunities March 2020

Engineering every day

2019 2018 Reported Organic⁺ Revenue £1,242.4m £1,153.3m +8% +6% Operating profit* £282.7m £264.9m +7% +7% Operating profit margin* 22.8% 23.0%

  • 20 bps

+10 bps Net finance expense (£8.4m) (£10.3m) Pre-tax profit* £274.5m £254.6m +8% Tax rate* 28.5% 27.6% +90 bps EPS* 265.7p 250.0p +6% DPS 110.0p 100.0p +10% Net debt £295.2m £235.8m

Financial performance

Strong organic sales growth despite weak industrial production growth

⁺ Organic measures are at constant currency and exclude contribuons from acquisions and disposals. * Adjusted profit measures exclude certain items.

  • Organic sales up

6%; organic growth in all segments of Steam Specialties and Watson- Marlow

  • Thermocoax adds

£27.9m to sales and £5.4m to profit

  • Operating profit up

7% organically

  • EPS +6% driven by
  • rganic growth
  • ROCE: 54.2%
  • ROIC: 18.7%
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31 Investor opportunities March 2020

Engineering every day

Steam and condensate loop

Applications overview

Steam generation Steam distribution and utilisation Packaged Solutions & Energy Recovery

Feedwater supply, storage and conditioning TDS controls Boiler level controls Boiler blowdown Blowdown heat recovery Bottom blowdown valves and vessels Start-up systems and separators Condensate monitoring Pressure control Temperature control Flow metering Steam traps Ancillaries Wireless communication Flash steam recovery Condensate recovery Humidification Heat transfer solutions Clean & pure steam products

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Engineering every day

Low-flow peristaltic metering pumps (acquired in 1990) Precision pump and transfer tubing High-flow industrial hose pumps (acquired 1996) Low-flow, high precision OEM pumps (acquired 2000) Aseptic filling (acquired 2008) PTFE-lined flexible hoses (acquired 2016)

Watson-Marlow Fluid Technology Group

Ten brands offering customers an unrivalled breadth of pumping services

Sinusoidal pumps (acquired 2009) Biotechnology tubing connection systems (acquired 2014) High purity polymer products company (acquired 2015) Stainless steel tank bottom and in-line valves for Biotechnology (acquired 2015)

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Engineering every day

Case study: Spirax Sarco UK

Improved energy efficiency during egg production

Application: heating of poultry sheds Requirement: biomass heating system fuelled by waste litter, bedding and feed Solution: Spirax Sarco and a biomass boiler specialist developed a heating system with integrated steam technology that maximises energy efficiency Result: improved environmental sustainability from renewable fuel use, lower energy bills and reduced waste removal

Engineering every day

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Engineering every day

Case study: Chromalox, Ireland

Precise temperature control for biopharmaceutical production

Application: warming of water-jacketed vessels during biopharmaceutical production Requirement: accurate, clean & safe heating solution Solution: Chromalox worked with a specialist OEM to determine precise temperature load and provided heating and temperature management products such as stainless steel circulation heaters and control panels Result: compact, efficient heating system delivering precise temperature control and product quality

Engineering every day

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Engineering every day

Case study: Watson-Marlow Brazil

Increased process efficiency during confectionery manufacture

Application: transfer of liquid sugar and other viscous fluids during confectionery production Requirement: pumps able to transfer hot sugar without sticking and requiring frequent maintenance Solution: four MasoSine pumps from Watson-Marlow with a triple-lip seal system, unaffected by viscous fluids Result: downtime significantly reduced, lower maintenance costs and increased process efficiency

Engineering every day

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Engineering every day

Group competitors

 - strong presence in the region  - medium presence in the region

EMEA Asia Pacific Americas

Steam Specialties

Armstrong International (USA) Private

  

ARI Armaturen (Germany) Private

  

Forbes Marshall (India) Private

 

Spence/Nicholson (USA) Emerson: NYSE

 

TLV (Japan) Private

  

Other product specialists: Samson (Germany) Private; Fisher Controls (USA) Emerson: NYSE; Valtek (USA) Flowserve: NYSE;

Endress & Hauser (Swiss) Private

Watson-Marlow

Cole Parmer (USA) Thermo Fisher: NYSE

  

Verder (Netherlands) Private

  

Other pump types and fluid path components: Moyno (USA) Dover: NYSE; Wilden (USA) Robbins & Myers: NYSE; Waukesha (USA) SPX:

NYSE; Mono (USA) National Oilwell Varco: NYSE; Warren Rupp/Pulsafeeder (USA) IDEX: NYSE; Prominent (Germany) Private; Saint-Gobain

Bioprocess Solutions (France) Saint-Gobain: Euronext Paris

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Engineering every day

EMEA Asia Pacific Americas

Electric Thermal Solutions

BARTEC (Germany) Private Equity

  

EXHEAT Limited (UK) Private

 

nVent (USA) Public: NYSE

  

Thermon Group Holdings Inc (USA) Public: NYSE

  

Vulcanic, (France) Private Equity

 

Watlow Electric Manufacturing Company (USA) Private

  

Other product specialists: Minco Products Inc (USA) Private; KLÖPPER-THERM GmbH & Co. KG (Germany) Private; CSI (Controls South East Inc) (USA) Ametek: NYSE; HEAT TRACE (UK) Private

Group competitors

 - strong presence in the region  - medium presence in the region