NEWS/IN BRIEF

October 2011 Filtration Industry Analyst3

Metso reorganises business portfolio

Metso Corp’s board of directors has decided to introduce a

new business structure in order to more effectively reach the company’s future business targets.

As a result, Metso’s Power business, which is currently part of the company’s Energy and Environmental Technology segment, will be integrated with the Paper and Fiber Technology segment. The Recycling business, also currently part of Energy and Environmental Technology, will be managed as a separate entity and Metso will review other strategic alternatives for it.

Under the new operating structure, Metso’s reporting segments will be Mining and Construction; Automation; and Pulp, Paper and Power.

“Our order book is currently at the record high level giving us good backbone for further development. To ensure continued profitable growth and value creation of Metso, and to gain the critical size needed to be competitive, we have made decisions to sharpen our business portfolio. We are focusing on businesses in which we can have a strong global market position and in which services and technology close to the custom-ers are decisive competitive advantages,” said Metso CEO Matti Kähkönen.

Metso’s mining and construction business, which is home to its separation operations, is developing strongly. “The growth in mining and construction is demanding a lot of resourc-es, and we have to be ready to invest into that and further build our global presence to sup-port the profitable growth,” said Kähkönen. “Our long term target is to be a leading global provider of mining technology and services.”

The new business structure will be finalised by the end of the year and will be effective from 1 January 2012. Until then, the current reporting structure of three business segments (Mining and Construction Technology, Energy and Environmental Technology and Paper and Fiber Technology) will remain in use.

For further information, visit www.metso.com

US private equity firm invests in Airsan

Cross Creek Partners LLC, a US pri-vate equity firm focused on man-

ufacturing and distribution companies in the upper Midwest, has acquired Airsan Corp, a Milwaukee-based man-ufacturer of permanent filters.

Airsan produces both permanent metal and dry type air filters for a number of appli-cations, including the defence, wind turbine, waste treatment, electric motor and cogen-eration markets. Airsan products are shipped worldwide to OEMs (original equipment manufacturers) and distributors.

“We plan to embrace Airsan’s strengths by continuing to deliver quality products and service to their existing customer base,” said Randall Perry, founder of Cross Creek Partners. “At the same time we will look at leveraging their brand and reputation by exploring tangential markets.”

“With the experience, guidance and resources that Cross Creek Partners is able to provide, Airsan will be able to continue to grow and move forward,” said Arlin Ratajczak, president and owner of Airsan for over 30 years.

“With the support of Cross Creek Partners and the increased demand for cleaner air, Airsan’s future looks very promising,” said Kurt Glaisner, vice president and co-owner of Airsan prior to the acquisition.

For further information, visit www.airsan.com and

www.ccreekpartners.com

ProSep concludes C$11.1mn private placement

ProSep Inc has closed a tranche of its private placement of com-

mon shares of the company for total gross proceeds of C$11.1 million.

The company will use the net proceeds from the private placement for commerciali-sation, business development and general working capital purposes.

For further information, visit www.prosep.com

Polyester Fibers refinances through PNC Bank

Empire Investment Holdings port-folio company Polyester Fibers

In Brief

• GEA Filtration has produced a dairy map which highlights where membrane filtration technologies can be applied in various kinds of dairy products and dairy processes. Ulrik Lund Jakobsen, director for GEA Filtration, said that the idea for the map came from cus-tomers. “Many of our customers want-ed to expand to produce new products but were unsure of how their existing facilities could be used or what new equipment they might need,” explained Jakobsen. “The dairy map shows them every step of the production process and makes it clear which products they should consider for diversification.”

www.geafiltration.com/filtration_library/overview_membrane_filtra-tion_applications_dairy.pdf

• Cummins Inc has been named to the Dow Jones Sustainability World Index for the seventh consecutive year. Companies are assessed on their per-formance in areas such as corporate governance, risk management, climate change strategy, environmental man-agement and eco-efficiency, labor prac-tices, corporate citizenship and phi-lanthropy, employee development and supply chain standards. In addition to a universal set of criteria, companies also were analyzed on issues specific to their industries.

www.cummins.com/sustainability and www.sustainability-indexes.com

• Grow California has selected Energy Recovery Inc as a California Clean Technology ‘Game Changer’ for 2011 in the category of Innovation in Energy and Water. The award recognises Energy Recovery for its leadership, innovation and impact on California’s clean tech industry and economy. “We are pleased to receive the ‘Game Changer’ of the year award for our innovative PX ener-gy recovery technology. It is rewarding to be able to reduce energy consump-tion while also helping to produce billions of gallons of water for millions of people around the world,” said Tom Rooney, Energy Recovery president and CEO. “To be in the same company as important ‘green’ contributors such as Google, Tesla and others is an honour.”

www.energyrecovery.com and www.grow-california.com