New contracts worth more than US $10 million for GL&V.
In other GL&V news:
GL&V USA Inc., Hudson Falls, New York, a subsidiary of GL&V, Montreal, Qudbec, purchased a new ONE PASS, which is nozzle casting roll covering equipment, from Coldwater Resins Inc. Covers produced with this new equipment will be for wire rolls, wet felt rolls and reel spools. Coldwater Roll covers produced at the Hudson Fails facility beginning in late 2002 are made from water repelling polyurethane and other modern polymeric composites, and are specifically designed for paper machine applications. The expansion into roll covering is complementary with the roll service, grinding and repairs already offered by GL&V. The facility, formerly Sandy Hill Inc., is also well known for its foundry capability and its paper machine dryer castings.
GL&V USA has also signed a letter of intent with Baker Hughes Incorporated to acquire its EIMCO Process Equipment division (EIMCO), Salt Lake City, Utah. EIMCO, with annual sales of $US 180 million, is a supplier of" high-performance technologies for liquid/solid separation processes. This acquisition, which would be GL&V's largest ever, is subject to customary conditions, and pertinent approvals. It is expected the transaction, which will be financed by bank debt, will be complete in late October.
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|Title Annotation:||Supplier News|
|Publication:||Solutions - for People, Processes and Paper|
|Date:||Oct 1, 2002|
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