VALVE MAGAZINE Fall 2023

INDUSTRY CAPSULES

Acquisitions, Mergers & Partnerships FLOWSERVE TO TERMINATE AGREEMENT TO ACQUIRE VELAN French authorities have informed both Flowserve and Velan that they will not provide the requisite regula tory approval for the sale of Velan to Flowserve. The ini tial arrangement agreement made on February 9, 2023, and amended on March 27, 2023, will be vacated. Flowserve informed Velan of its intent to terminate the agreement based on the lack of regulatory approval from France for the transaction to close. The closing of the arrangement was always pending regulatory approv als. To meet that condition, Flowserve offered a package of remedies and undertak ings to the French author ities to help the deal close, but they were informed

that they will not be pro vided with the regulatory approvals, regardless of these offers. “We thank our employees and other stakeholders who supported the proposed transaction,” says James Mannebach, chair of the board of directors of Velan. “Although we are disap pointed with the outcome and the decision of the French regulators, we remain confident in the future of Velan’s business. We will now turn our entire focus to the operation of a successful business while continuing to assess all strategic options available to the company to create value for all of our stakeholders.” Flowserve president and CEO, Scott Rowe, says: “We are obviously disap pointed with the French government’s decision. We do not believe the decision aligns with the French gov ernment’s stated goal of

encouraging foreign invest ment into France’s economy. Throughout this process, Flowserve worked diligently and proactively to address all of the concerns that were raised by the French government. We were opti mistic about the acquisition of Velan and the numerous benefits this would provide for both companies and their stakeholders. We sincerely appreciate the efforts of our Flowserve associates and Velan team members who worked so tirelessly on the transaction. We remain excited about the future of Flowserve and will continue to aggressively pursue our 3D strategy.” The full statements and more information can be found on the Flowserve and Velan websites.

Industriemeßtechnik GmbH (“Flexim”), a global leader in clamp-on ultrasonic flow measurement for liquids, gases and steam. Headquartered in Ber lin, Germany, Flexim brings complementary technology and strong customer rela tionships to Emerson, with an installed base of more than 100,000 flowmeters, as well as approximately 450 employees. Flexim provides clamp-on ultrasonic flow measurement technology for a broad range of end markets, including chemical, water and wastewater, life sciences, food and beverage and power generation. The transac tion will expand Emerson’s automation portfolio and measurement capabilities, complementing its existing flow measurement positions in Coriolis, differential pres sure, magmeter and vortex flow measurement. Upon the close of the transaction, Flex im’s Berlin headquarters is

EMERSON TO ACQUIRE FLEXIM Emerson announced a definitive agreement to acquire Flexim Flexible

PEOPLE IN THE NEWS

MSS APPOINTS NEW LEADERSHIP AND STAFF The Board of Directors of the Manufacturers Standard ization Society (MSS) of the Valve and Fittings Industry has named Lorna Soderberg as

Soderberg, “and I’m excited to lead the organization into an even more successful second century.” In addition, MSS has selected Stefania Adjei as tech nical coordinator. She comes to MSS with many years of project management experience.

executive director. She previously served as MSS operations manager for more than three years. President of the MSS Board of Directors, Jim Barker, says: “Lorna has very effectively demonstrated her business and leadership skills in this position. She was instru mental in planning and executing a successful 2023 annual meeting, implemented a new AMS and web site, and oversaw the sale of the

Adjei is pleased to join the MSS team to continue the excellent record of publishing new Standards and inter acting with ISO as the US TAG 153 administrator. The Manufacturers Standardiza tion Society of the Valve and Fittings Industry, Inc. is a non-profit tech nical association organized for the development and improvement of industry, national and international codes and standards for valves, valve

VALVE MAGAZINE FALL 2023 6 Lorna Soderberg Photo Credit: MSS

Stefania Adjei

Photo Credit: MSS

MSS headquarters building.” Barker notes that he and the Board “are confident Lorna will do an excellent job lead ing and building on the foundation of MSS as we begin the next 100 years.” “I have enormous respect for MSS and what the Soci ety has accomplished since it was formed in 1924,” says

actuators, valve modifications, actuator mounting kits, pipe or tube fittings, flanges, pipe or tube hangers and supports, and associated seals, springs, spring washers and fasteners. MSS is an American National Standards Institute (ANSI)-accredited standards developer.