Global water, wastewater markets expected to improve with new acquisition

Sponsored by

June 20, 2013 -- Global water and wastewater markets are expected to improve through a recent acquisition between Torishima Pump Mfg. Co., Ltd ("Torishima") and Fluid Equipment Development Company, LLC ("FEDCO"). Torishima agreed to acquire a 50-percent interest in Fluid Equipment, a U.S-based manufacturer of pumps and hydraulic energy recovery devices, from its shareholder, and completed the transaction on June 6, 2013 (June 5, 2013, U.S. time).

The management structure will remain the same, with Mr. Eli Oklejas as CEO. "Torishima shares our values of quality, efficiency, teamwork, and innovation. Our partnership is expected to yield exponential growth,” states Mr. Oklejas. This investment will benefit FEDCO customers with new technologies, world-wide sales and service capabilities and further commitment of its manufacturing and testing facilities.

FEDCO will continue operations in Monroe, Mich., and anticipates completion of a 6,650 m2 office and manufacturing expansion by the second quarter of 2014.

In June, 2012, Torishima and FEDCO agreed to establish a Joint Venture, Advanced Pumps International LLC ("Advanced Pump") for the development, manufacture, sales and service of pumps to the Oil & Gas industry. The investment of a 50-percent interest in FEDCO by Torishima will cement the relationship between the two parties, easing the way for greater global reach and aiding in the development of "Energy-Efficient" & "Energy Recovery" rotating equipment.

The merging of Torishima and FEDCO will create the following benefits:

1. A full range of products under one umbrella, allowing for greater pooling of resources in exploring new markets such as Water, Oil & Gas and General industry.

2. Torishima currently does not have a manufacturing or service bases in the U.S. This investment will allow Torishima to utilize FEDCO's facility in the U.S. for conventional pump operations.

3. FEDCO's engineering system will be further developed to reduce delivery times and improve its efficiencies.

Although Torishima holds a 50-percent interest, FEDCO will continue to be managed by Mr. Eli Oklejas, current President, and is therefore not consolidated into the Torishima Group Financial Statement. The investment price will not be disclosed. Consideration of this investment has been paid by cash on hold in Torishima to FEDCO shareholders.

About Fluid Equipment Development Company

FEDCO designs and manufactures fluid machinery, such as turbocharger energy recovery devices and centrifugal pumps especially suited for reverse osmosis (RO) desalination systems. Further, the company has developed turbochargers and power recovery turbines for a wide range of low pressure desalination and industrial RO systems.

Fluid Equipment Development Company (FEDCO) is a designer and manufacturer of high pressure centrifugal pumps and energy recovery devices for seawater and brackish water reverse osmosis desalination.  FEDCO world headquarters is located in Monroe, Michigan USA with Sales and Service offices in Dubai, UAE and Singapore. (www.fedco-usa.com)

About Torishima Pump Manufacturing Company

Torishima Pump Manufacturing Company is headquarter in Osaka, Japan and was founded in 1919.  It currently designs and manufactures centrifugal pumps and pumping systems for a variety of applications with installations throughout the world. It employs over 1400 people worldwide and has locations in over 16 countries.  (www.torishima.co.jp/en)

###

Sponsored by

TODAY'S HEADLINES

EPA awards over $17M in Great Lakes Restoration Initiative grants to address algal blooms

The Environmental Protection Agency has announced the award of 14 Great Lakes Restoration Initiative grants totaling over $17 million to fund projects that will improve Great Lakes water quality by preventing phosphorus runoff and soil erosion that contribute to algal blooms.

Texas water district recognized for Eagle Mountain Spillway Dam rehabilitation

The Association of State Dam Safety Officials announced that it has awarded the Tarrant Regional Water District of Texas with the National Rehabilitation Project of the Year Award.

Innovyze named winner of prestigious Esri Partner Conference Award

Innovyze recently announced that it was named the winner of the ArcGIS for Desktop Based Application category of the Esri Partner Conference Awards.

CH2M HILL partnership to deliver safe, clean water supply to Jaipur, India

CH2M HILL in partnership with the Singapore Public Utilities Board and Singapore Cooperation Enterprise, is providing water management leadership services to the Rajasthan state government through Public Health and Environment Department for the city of Jaipur, India.

FOLLOW US ON SOCIAL MEDIA