EIN Presswire: Power Plants Live Feed Press Releases

American DG Energy Operates High Efficiency Heat Pump at Albany JCC

Tue, 07 Feb 2012 14:00:00 +0000

American DG Energy Operates High Efficiency Heat Pump at Albany JCC

PR Newswire

ALBANY, N.Y., Feb. 7, 2012 /PRNewswire/ -- American DG Energy Inc. (NYSE Amex:ADGE), a leading On‑Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and athletic facilities, today announced that the Company is operating a high efficiency heat pump at Sidney Albert Albany Jewish Community Center (Albany JCC) in Albany, New York. Under the terms of the agreement, the Albany JCC receives a portion of its energy from the heat pump system, which will be owned and operated by American DG Energy. The Albany JCC receives a discount on the energy produced by the system and reduces its carbon footprint.

American DG Energy produces domestic hot water, pool heat and space heat at the Albany JCC and sells it to the JCC at a price lower than the local energy utility. The Albany JCC pays only for the energy used by the facility and avoids all capital, installation and operating costs of the system. The energy is produced with the Ilios high efficiency water heater or heat pump, located at the property site but owned and operated by American DG Energy. The Company also handles all service, maintenance and repair; therefore, the Albany JCC does not need to provide manpower to support the equipment.

The Ilios high efficiency water heater employs a combination of technologies designed to boost efficiency, save money, and reduce impact on the environment. This natural gas fueled water heater combines traditional boiler technology with the power of the heat pump to make a dramatic leap in heating efficiency. Ilios extracts energy from the atmosphere and uses a cutting edge natural gas fueled engine to "pump" this heat to useful temperatures. The synergy of advanced heat pump and engine technology results in twice the efficiency of a gas fired boiler. For locations with substantial hot water requirements the cost savings and environmental impact is significant.

American DG Energy has the exclusive rights to incorporate Ilios high-efficiency heating products in its energy systems throughout the European Union and New England. American DG Energy also has non-exclusive rights to distribute Ilios products in the remaining parts of the United States and the world in cases where American DG Energy retains ownership of the equipment for its On-Site Utility business.

About American DG Energy
American DG Energy supplies low-cost energy to its customers through distributed power generating systems. The Company is committed to providing institutional, commercial and small industrial facilities with clean, reliable power, cooling, heat and hot water at lower costs than charged by local utilities – without any capital or start-up costs to the energy user – through its On-Site Utility energy solutions. American DG Energy is headquartered in Waltham, Massachusetts. More information can be found at www.americandg.com.

FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements, as disclosed on the Company's website and in Securities and Exchange Commission filings. This press release does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

SOURCE American DG Energy Inc.

Project Launched to Save Water and Energy in California Restaurants

Mon, 06 Feb 2012 18:49:56 +0000

Project Launched to Save Water and Energy in California Restaurants

PR Newswire

DANVILLE, Calif., Feb. 6, 2012 /PRNewswire/ -- Bridges Restaurant and Bar has long been an East Bay fine dining establishment. The restaurant is now hoping to be known as a pioneer in energy and water efficiency. As part of this effort, Bridges will install ultra-high efficient hybrid tankless water heaters, a novel approach to effectively meet the high demand for hot water restaurants face.

Bridges will host a pilot project designed by Demand Management Installation Services (DMIS) and the Food Service Technology Center, an energy efficiency program for foodservice funded by Pacific Gas and Electric Company. DMIS and FSTC will identify opportunities to reduce energy and water demands and also reduce wastewater the restaurant generates.

Fifteen percent of all natural gas consumed in California's commercial sector is used solely by commercial kitchens to heat water.

"We've made tremendous strides in residential hot water energy efficiency in recent years, and now we're ready to apply these newer technologies in demanding commercial settings," said Jason Hanleybrown, CEO of DMIS. "Restaurants can't survive without sufficient hot water. We've launched this pilot project to show foodservice establishments that they can save water, energy, and money through well-designed, efficient systems."

DMIS and the FSTC worked together to evaluate water and energy use and wastewater production at Bridges. This pilot aims to improve efficiency in water heating, water usage, wastewater generation, and energy usage. In California the annual operating costs associated with water, wastewater, and energy use of the hot water system can add up to $40,000 in large sit-down restaurants, a significant portion of a restaurant's operating costs.

"We help restaurants to identify the most efficient systems to best meet their needs," said Don Fisher, FSTC manager at the Food Service Technology Center. "Working with DMIS to help Bridges identify retrofit opportunities to make the restaurant more efficient will help it to save significantly on its utility bills."

Hybrid hot water heater manufacturer Eternal donated the equipment for this pilot project. A second project phase will take advantage of low-cost, high-yield water efficiency opportunities such as ensuring that all pre-rinse spray valves are the most efficient available. The goal is to illustrate that restaurants can – and should – adopt more efficient hot water systems.

For more information see www.dmi-serv.com and www.fishnick.com.

SOURCE Demand Management Installation Services

Germany Maps Out Financing Plan for Renewable Energies

Mon, 06 Feb 2012 15:00:00 +0000

Germany Maps Out Financing Plan for Renewable Energies

PR Newswire

BERLIN and ESSEN, Germany, February 6, 2012 /PRNewswire/ --

E-world energy and water 2012

Germany recently passed the 20 percent mark for renewable energy in the electricity mix. And the federal KfW bank group has introduced a new plan to further accelerate this shift to renewables, with increases in multimillion euro business loans now available. As more renewable energy is generated, energy management and storage are also receiving increased focus. Germany Trade & Invest, together with representatives of Germany's six E-energy model regions, will be at this year's E-world from February 7-9 in Essen to highlight opportunities for international companies in these growing market segments.

"With such a large share of renewable energy in the mix, it is becoming more urgent to implement smart grid and storage technologies to balance the fluctuating supply. Germany is making an exceptional team effort to achieve our ambitious goals, with businesses, banks, researchers and the government all working together" said Heiko Staubitz, renewable energy expert at Germany Trade & Invest in Berlin.

The new KfW plan outlines efforts to ease the financial burden of a wide-ranging shift to renewable energy. Previously, loans were available to small businesses for their efforts to move to renewables, and these have been expanded to cover companies with annual revenue of up to 3 billion euro. At the same time, loans are available to support research and development of energy storage, transmission, production, and efficiency techniques with grants up to EUR 25 million, marking an increase.

In light of last year's decision to phase out nuclear power, Germany is further ramping up investments in renewable energy. Already, Germany features the world's strongest photovoltaic market, with nearly half of all global installations worldwide. In wind power, Germany leads Europe in total installations and is currently preparing for a major expansion in the offshore segment.

Germany Trade & Invest is the foreign trade and inward investment promotion agency of the Federal Republic of Germany. The organization advises foreign companies looking to expand their business activities in the German market. It provides information on foreign trade to German companies that seek to enter foreign markets.

Germany Trade & Invest
Andreas Bilfinger
Email: andreas.bilfinger@gtai.com
T: +49(0)30-200099-173
F: +49(0)30-200099-511
http://www.gtai.com
http://twitter.com/gtai_com
http://youtube.com/gtai
http://www.linkedin.com/company/germany-trade-&-invest

SOURCE Germany Trade and Invest

W2 Energy Sells WaterHelix System to Maine BioEnergy

Mon, 06 Feb 2012 14:15:00 +0000

W2 Energy Sells WaterHelix System to Maine BioEnergy

PR Newswire

GUELPH, Ontario, Feb. 6, 2012 /PRNewswire/ -- W2 Energy, Inc. (OTC:WTWO) is pleased to announce that it is has sold a WaterHelix hydrokinetic power system to Maine BioEnergy in Naples, Maine.

The President of Maine BioEnergy is longtime Maine businessman Robert Fogg, the President of Q-Team Tree Service (www.q-team.com), one of the largest and most established tree removal companies in Maine.

Maine BioEnergy will be installing and testing the WaterHelix on one of the streams on the Q-Team Tree Service property.

"I called W2 Energy wanting to establish a renewable energy company in Maine," says Robert Fogg, the President of Maine BioEnergy. "Our first project is using the WaterHelix to convert hydropower into electricity. Maine BioEnergy's second project will be using the NT Plasmatron to convert our wood waste into electricity."

W2 Energy has begun building the WaterHelix system for Maine BioEnergy, which will mate the WaterHelix head with the SEGS power offtake system.

"This is a great project for W2 Energy," says Mike McLaren, President and CEO of W2 Energy. "This will demonstrate the viability of run-of-river hydrokinetic projects using the WaterHelix system."

W2 Energy trades in the United States on the OTC market under the symbol "WTWO."
For further information, please contact Mike McLaren at (519) 341 4776 or go to www.w2energy.com

Note: Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause results to differ materially. Such risks, uncertainties and other factors include but are not limited to new economic conditions, risk in product development, market acceptance of new products and continuing product demand, level of competition and other factors described in reports and filings with regulatory bodies

Contact:

W2 Energy, Inc.
519-341-4776
info@w2energy.com

SOURCE W2 Energy, Inc.

PureSafe Water Systems, Inc. Announces the Delivery of the First Response Water System to the Department of Military and Veterans Affairs for the State of Alaska

Mon, 06 Feb 2012 13:22:22 +0000

PureSafe Water Systems, Inc. Announces the Delivery of the First Response Water System to the Department of Military and Veterans Affairs for the State of Alaska

PureSafe Water Systems, Inc. (OTCBB:PSWS)

PR Newswire

PLAINVIEW, N.Y., Feb. 6, 2012 /PRNewswire/ -- PureSafe Water Systems, Inc., manufacturer of the patented mobile First Response Water System (FRWS), announced the delivery to the Department of Military and Veterans Affairs of the State of Alaska.

Gerard Stoehr, COO stated, "We won a competitive bid for our FRWS in a primary market to the Department of Military and Veterans Affairs for the State of Alaska. No other bidder was deemed responsive to the commercial and technical requirement of the invitation to bid."

Leslie Kessler, CEO stated, "This is the first sale in our domestic market to Homeland Security and a giant leap for PureSafe Water Systems' market acceptance."

From time to time, information provided by the Company (including; but not limited to this release), statements made by its employees or information included in its filings with the Securities and Exchange Commission may contain "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. With respect to such forward-looking statements, the Company claims protection under the Private Securities Litigation Reform Act of 1995. The Company's results may differ significantly from those stated in any forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, including, but not limited to, product demand, pricing, market acceptance, litigation, risks in product and technology development and other risk factors detailed from time to time in the Company's Securities and Exchange Commission reports including, without limitation, its 2008 Form 10-K and Forms 10-Q. The Company does not undertake to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contact:
PureSafe Water Systems, Inc.
Leslie J. Kessler, 516.208.8250
Fax: 516.208.8252
Info@puresafewatersystems.com
www.puresafewatersystems.com

SOURCE PureSafe Water Systems, Inc.

South Texas Water-Quality Concerns From Eagle Ford Shale Fracking

Sun, 05 Feb 2012 08:13:07 +0000

South Texas is home to the Eagle Ford Shale rock formation that has vast, rich concentrations of energy deposits.

February 05, 2012 /24-7PressRelease/ -- South Texas Water-Quality Concerns From Eagle Ford Shale Fracking

"Fracking" is short for "hydraulic fracturing" -- the forceful injection of a water, sand and chemical solution into an underground shale formation that splits apart the rock layers, releasing oil and gas deposits caught between them. South Texas is home to the Eagle Ford Shale rock formation that has vast, rich concentrations of energy deposits.

Shale is a rock formed from hardened clay that can easily be fractured into thin sheets. The Eagle Ford Shale is about 250 feet thick on average, running approximately 50 miles wide by 400 miles long from East Texas southwesterly to the Mexican border.

The fracking industry has taken the area by storm. For example, yearly natural gas production in the Eagle Ford Shale has gone from almost nothing in 2008 to over 220 billion cubic feet in 2011, according to the Railroad Commission of Texas. Oil production over roughly the same period increased from about 140,000 barrels annually to 22 million barrels.

This new industry brings jobs and commerce to an economically depressed region plagued by the worst drought in decades. Fracking has been enthusiastically endorsed by politicians who argue that the fracking industry has great potential to enhance U.S. energy independence and create jobs, but environmentalists and people living in fracking areas express concern about the potential for dangerous pollution, especially of water.

Stories proliferate about strange phenomena blamed on fracking -- from earthquakes in Ohio to flammable tap water. Reportedly, people in Wyoming were advised to leave their bathroom doors open for ventilation when showering to prevent the combustion of water contaminants. People living near fracking wells nationwide have reported chemical-smelling, dirty water from residential taps.

On Jan. 9, 2012, according to Bloomberg, a doctors' group recommended a moratorium on fracking in densely populated vicinities until potentially dangerous health effects are known.

Officially, the jury is out as to whether and how severely fracking activity can contaminate the surrounding water supply. However, in December 2011 the federal Environmental Protection Agency made a tentative finding that fracking in the Wyoming Pavillion shale probably caused groundwater contamination. In two deep wells, the agency found elevated levels of dangerous chemicals like benzene and methane used in nearby fracking.

The EPA conducted the study in response to residential complaints about stinking water. In addressing industry and some political criticism of the study, the EPA emphasizes that the results are preliminary, unique to the geology of Pavillion and subject to peer review. Despite this, Congress has ordered the EPA to begin a comprehensive three-year study of the danger to water from fracking.

Some familiar with the Eagle Ford Shale say its geography is so different from that of the Wyoming shale field that the two shouldn't be compared when theorizing about the potential for water pollution. The Carrizo Wilcox aquifer that provides water to the area lies far above the Eagle Ford shale, separated by a mile or two of rock, leading many to believe cross-contamination would not be possible there.

However, in a major and telling development, a new Texas state fracking regulation took effect on Jan. 2, 2012, that requires fracking operators to disclose on a public website for each well the identity of chemicals mixed with water to make that particular fracking fluid, as well as the total volume of water used.

Fracking in Eagle Ford consumes millions of gallons of clean water that is laced with toxic chemicals after the fracking process is finished. To protect local water resources, companies conducting fracking activities in the Eagle Ford Shale should be subject to government monitoring and should use the most current water-friendly technology and methodology.

If you live on or own land in the area and suspect your water supply may be affected by fracking, be sure to discuss the situation with a personal injury lawyer experienced in toxic tort lawsuits.

Article provided by The Law Offices of David McQuade Leibowitz, P.C.

Visit us at www.leibowitzlaw.com

---

Press release service and press release distribution provided by http://www.24-7pressrelease.com

Utility Workers to Sponsor Plane Banner over Super Bowl Publicizing United Water Criminal Indictment

Sat, 04 Feb 2012 01:39:11 +0000

Utility Workers to Sponsor Plane Banner over Super Bowl Publicizing United Water Criminal Indictment

PR Newswire

WASHINGTON, Feb. 3, 2012 /PRNewswire/ -- The Utility Workers Union of America will sponsor a plane banner over the Super Bowl on February 5, 2012 to publicize the ongoing criminal prosecution of United Water for alleged environmental felonies.

The banner will fly over Super Bowl Village, Lucas Oil Stadium, and downtown Indianapolis from 12:00 noon to 3:00 p.m. on Sunday, February 5 to promote a UWUA website detailing a 26-count federal criminal indictment pending against the for-profit water utility company.

On December 8, 2010, a federal grand jury issued an indictment charging that United Water and two of its managers tampered with E. coli bacteria monitoring tests at a Gary, Indiana wastewater treatment plant between 2003 and 2008. Prosecutors allege that United Water manipulated the monitoring tests as part of a scheme to reduce its costs for purchasing chlorine, which is used as a disinfectant before the plant discharges treated sewage into a public waterway near Chicago.

United Water and the two managers have pleaded not guilty in the case.

The UWUA has criticized public statements by top management of the company seeking to minimize the seriousness of the charges. In a press release issued the same day as the indictment, United Water President Robert Iacullo stated that "the government's claim is, at best, a disagreement about operating and monitoring methods, with no allegation of environmental harm."

"We are astonished by United Water's claim that this indictment involves a 'disagreement about operating and monitoring methods,'" stated UWUA National Vice President John Duffy. "United Water stands accused of tampering with E. coli monitoring reports over a five year period – for wastewater discharges into a major urban area – merely to boost its profits." If convicted, the two indicted managers could face decades in prison, and the company subjected to a significant fine and probation.

The UWUA website – available at www.UnitedWaterIndictment.net - includes copies of the indictment, internal United Water emails released by prosecutors, and additional information concerning the case. The site also includes additional information concerning United Water, including a series of recent complaints issued by the National Labor Relations Board charging the company with violations of federal labor law.

United Water is a wholly-owned subsidiary of French multinational Suez Environnement.

The Utility Workers Union of America represents working men and women in the utility and related industries throughout the U.S., including United Water employees in Delaware, New Jersey, New York, and Pennsylvania. UWUA members are committed to promoting the highest quality and safest utility services possible. We believe that utility companies that treat the communities and customers they serve with respect, consideration, and the highest ethical and legal standards will also treat employees fairly.

For more information:
Mark Brooks, 615/259-1186
markbrooks@uwua.net

SOURCE Utility Workers Union of America

Global Water Technologies Soars Above Indianapolis

Fri, 03 Feb 2012 13:09:05 +0000

Global Water Technologies Soars Above Indianapolis

Hot-air balloon over host city calls attention to underground water issues

PR Newswire

INDIANAPOLIS, Feb. 3, 2012 /PRNewswire/ -- As the world's eyes turn to Indianapolis for the biggest sporting event of the year, those looking skyward in the city were reminded of the importance of what lies below their feet.

Indianapolis hot-air balloon pilot Tony Sandlin is also a board member of Global Water Technologies (OTC Markets: GWTR). Sandlin used an 80-foot-tall blue balloon to draw attention to water issues as the city kicked off a weekend of activities that drew corporate leaders from across the country.

"When we fly across the sky, people stop what they are doing to look up," Sandlin said. "They should also be aware of what's happening below their feet, where underground water pipes are leaking at alarming rates."

Global Water Technologies is working to introduce new ways to reduce the number of water main breaks. According to a recent report by the Water Innovations Foundation, approximately 15 percent of municipal drinking water is lost through leaking pipes in the United States and $365 billion in water infrastructure repairs will be needed in the coming years. Broken water mains waste massive amounts of water, cause extensive property damage and create public health and safety issues.

"Raising awareness for such issues is a first step to finding solutions for them," said Sandlin, whose passengers included representatives from Citizens Water, which provides service to 300,000 households in Indianapolis. "We're pleased to be part of that effort with this unique way to get people's attention."

Sandlin is a commercial balloon pilot who has flown in events across the United States, Canada and Mexico. Last year he participated in the first hot-air balloon event in Doha, Qatar to launch the 2011 Asia Cup soccer games. So it's only natural that he's using a flight over his hometown's biggest event to call attention to a worldwide problem – the growing need use fresh, clean water more efficiently.

More information about Global Water Technologies is available at: www.gwtr.com

More information about Tony Sandlin is available at: www.midwestballoonrides.com

FORWARD-LOOKING STATEMENT:

Statements relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.

SOURCE Global Water Technologies

Elster to Announce 2011 Fourth Quarter and Full-Year Financial Results on Friday, February 24, 2012

Fri, 03 Feb 2012 12:00:00 +0000

Elster to Announce 2011 Fourth Quarter and Full-Year Financial Results on Friday, February 24, 2012

PR Newswire

ESSEN, Germany, Feb. 3, 2012 /PRNewswire/ -- Elster (NYSE: ELT) today announced that it will release fourth quarter and full-year financial results for 2011 before the market opens on Friday, February 24, 2012.

(Logo: http://photos.prnewswire.com/prnh/20110126/SF35872LOGO-a)

Company management will webcast a conference call at 8:00 a.m. ET on Friday, February 24, 2012. To access the live webcast, please log on to the investor section of the company's website at http://investors.elster.com. Analysts and institutional investors may participate in the conference call by dialing +1-612-234-9960 and using confirmation number 235653.

Webcast and telephone replays of the conference call will be available approximately two hours after the completion of the call through Friday, March 9, 2012. Domestic callers can access the replay by dialing +1-800-475-6701, and international callers can access the replay by dialing +1-320-365-3844 and using confirmation number 235653.

About Elster
Elster (NYSE: ELT) is one of the world's largest electricity, gas and water measurement and control providers. Its offerings include distribution monitoring and control, advanced smart metering, demand response, networking and software solutions, and numerous related communications and services - key components for enabling consumer choice, operational efficiency and conservation. Its products and solutions are widely used by utilities in the traditional and emerging Smart Grid markets.

Elster has one of the most extensive installed revenue measurement bases in the world, with more than 200 million metering devices deployed over the course of the last 10 years. It sells its products and services in more than 130 countries across electricity, gas, water and multi-utility applications for residential, commercial and industrial, and transmission and distribution applications. For more information about Elster, please visit http://www.elster.com/.

SOURCE Elster

Baker Water Systems Offers First and Only NSF 61 Approved Pitless Unit

Thu, 02 Feb 2012 12:18:49 +0000

Baker Water Systems Offers First and Only NSF 61 Approved Pitless Unit

PR Newswire

EVANSVILLE, Wis., Feb. 2. 2012 /PRNewswire-iReach/ -- As North America's leading manufacturer of quality products since 1873, Baker Water Systems, a division of Baker Manufacturing Company, LLC, is proud to announce our recent official certification from NSF International.

(Photo: http://photos.prnewswire.com/prnh/20120202/CG45817)

This most coveted certification, specific to code 61 for potable drinking water, covers all industrial pitless units in sizes 6" through 36". A copy of the certification is available for your perusal at the below-noted website:

http://www.nsf.org/Certified/PwsComponents/Listings.asp?Company=C0038831&Standard=061

We have worked diligently these past few years to receive this achievement and are proud to be the first and only manufacturer of pitless units to offer the full NSF 61 Approval on all of our industrial pitless units; keeping with our tradition of providing quality products, impeccable service, and solutions for your business, this is one more reason to feel confident when you choose Baker.

We are dedicated to remaining the front runner of our industry, and as such, look forward to updating you regularly with more exciting news as our status continues to grow.

Monitor products are manufactured at the corporate headquarters in Evansville, WI, which offers a fully staffed onsite engineering, machine shop and painting. website: www.bakermonitor.com

About Baker Manufacturing Company, LLC - Water Systems Division featuring Monitor Industrial and Municipal water systems products:

Baker Manufacturing Company, LLC is beginning its 139th year of business, manufacturing a wide array of water systems products and components under the Monitor name. In addition, the Water Systems Products Division features products for residential water well systems under the Campbell, Monitor, Brady, and Martinson brands; and environmental monitoring products under the Monoflex brand. Baker also has a Casting Division and Haight Pump Division.

For more information contact:

Baker Water Systems - Monitor
133 Enterprise Street
Evansville, WI 53536
800-356-5130
www.bakermonitor.com

Media Contact: Jennifer Becker Baker Water Systems, 608-882-2721, jbecker@baker-mfg.com

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE Baker Water Systems

Latitude Solutions, Inc. and Crestmark Bank Finalize a $5 Million Revolving Asset-Based Line of Credit

Thu, 02 Feb 2012 12:00:00 +0000

Latitude Solutions, Inc. and Crestmark Bank Finalize a $5 Million Revolving Asset-Based Line of Credit

PR Newswire

BOCA RATON, Fla., Feb. 2, 2012 /PRNewswire/ -- Latitude Solutions, Inc. ("LSI" or the "Company"), trading symbol OTC: LATI.QB, announced today that the Company and Crestmark Bank have finalized the establishment of a $5 million revolving asset-based line of credit. This type of working capital facility will provide LSI with greater flexibility and liquidity to support growth and take advantage of further opportunities.

Jeffrey Wohler, Latitude Solutions, Inc.'s Chief Executive Officer, stated, "The credit facility being provided by Crestmark enables LSI to rapidly deploy our Electro Precipitation™, Integrated Water Systems™ on an accelerated basis by maximizing the cash flow and recurring revenue created by the deployment of our technology."

Jim Rothman, Group President of Crestmark Bank, stated, "Our philosophy is to provide creative financial solutions to rapidly expanding companies such as LSI. By helping companies that provide unique solutions and products, we can help them grow, and continue to expand Crestmark's reach."

About Latitude Solutions, Inc.

Latitude Solutions, Inc. provides innovative wastewater remediation solutions to oil & gas, energy, mining, food processing, agricultural and other industrial users worldwide utilizing its patented Electro Precipitation™, (EP™) technology. Based on this EP™ technology, LSI's Integrated Water Systems™ (IWS™) remediation processes have the ability to convert massive amounts of contaminated water resulting from the operations of energy companies and other industrial users into reusable water on a highly efficient and cost effective basis. This provides the Company's clients with a sustainable solution by substantially reducing the cost and requirements of freshwater harvesting, regulatory compliance and wastewater disposal. LSI provides its technology worldwide via a recurrent revenue business model comprised of a monthly equipment lease payment and a volumetric processing fee. The Company maintains ownership and operational control of all its processing equipment in order to ensure the highest level of client satisfaction and quality control. LSI has offices and/or operations in Boca Raton, Florida; Colorado Springs, Colorado; New York, New York; Searcy, Arkansas, London, United Kingdom and Amsterdam, the Netherlands. Information on the Company and its solutions can be viewed on www.latitudesolutions.net.

About Crestmark Bank.

Crestmark is a nationally recognized provider of working capital solutions for small to medium-sized businesses. Financing solutions include asset-based lending, accounts receivable financing, lines of credit and factoring. Crestmark finances most business-to-business industries, and has extensive experience in many industries including manufacturing, staffing, government contractors, apparel and transportation. Headquartered in Troy, Michigan, with regional offices in Florida, Louisiana and Tennessee; a full service financing office in New York City, and business development offices located in Alabama, California, Florida, Georgia, Illinois, Ohio, New Jersey, New York, Missouri, North Carolina, Tennessee and Texas. www.crestmark.com

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange

SOURCE Latitude Solutions, Inc.

Pentair Reports Full Year 2011 Sales Growth of 14 Percent to $3.5 Billion; Reaffirms 2012 Earnings Outlook of $2.60 to $2.75

Tue, 31 Jan 2012 12:00:00 +0000

Pentair Reports Full Year 2011 Sales Growth of 14 Percent to $3.5 Billion; Reaffirms 2012 Earnings Outlook of $2.60 to $2.75

Full Year 2011 Highlights

- Full year sales up 14 percent year-over-year to record $3.5 billion

- Reported EPS of $0.34, after non-cash goodwill impairment charge; Adjusted EPS increased 21 percent to record $2.41 reflecting solid operating performance

- Generated strong free cash flow of $248 million, exceeding net income

- Quarterly dividend increased 10 percent to $0.22 per share in 2012

All financial information and period-to-period references are on a continuing operations basis unless otherwise noted. Reconciliations of GAAP to Non-GAAP are in the attached financial tables.

PR Newswire

MINNEAPOLIS, Jan. 31, 2012 /PRNewswire/ -- Pentair, Inc. (NYSE: PNR) announced full year 2011 sales of $3.5 billion, an increase of 14 percent from the prior year. The full year sales increase reflected broad-based growth in both Water and Technical Products, and included 8 percentage points from the acquisition of Clean Process Technologies (CPT) and a point from favorable foreign exchange. Earnings per diluted share from continuing operations (EPS) were $0.34 for the full year 2011, which included a non-cash goodwill impairment charge of $1.82 per share, restructuring charges totaling $0.10 per share and acquisition related costs of $0.15 per share. Excluding these items, the company achieved EPS of $2.41 in 2011, up 21 percent from the prior year.

During the year, Pentair generated $248 million in free cash flow, which represented another year of greater than 100 percent conversion of net income. The company paid approximately $80 million in dividends in 2011, or $0.80 per share. The new quarterly dividend effective in the first quarter of 2012 equates to an annual cash dividend of $0.88 cents per share, up 10 percent.

"Delivering strong sales and over 20 percent adjusted earnings growth for the year were significant accomplishments given challenging market conditions," said Randall J. Hogan, Pentair chairman and chief executive officer. "Robust sales in fast growth regions, along with distribution gains and new product introductions drove sales higher. Pricing and productivity discipline enabled another year of margin expansion, and we continued to invest in the innovation, brands and global capabilities that we believe position us well to deliver long-term, sustainable growth."

FOURTH QUARTER RESULTS

Total company fourth quarter sales increased 15 percent over the prior year quarter to $866 million, and included 12 percentage points from the CPT acquisition and a minimal negative impact from foreign exchange. Sales in fast growth regions grew 65 percent in the quarter, including a 42 percentage point contribution from the CPT acquisition. Year-over-year sales growth in the quarter included a negative 2 percentage point impact due to sales in 2010 related to the Gulf Intracoastal Waterway (GIWW) project.

The company reported a fourth quarter operating loss of $120 million compared to operating income of $80 million in the prior year quarter. Fourth quarter results included a pre-tax non-cash goodwill impairment charge of $201 million in the Residential Filtration business as a result of the company's annual impairment analysis of goodwill. The company concluded that due to continued softness in the end-markets served by residential water treatment components, the carrying amount of this business exceeded its fair value. This non-cash charge does not impact the company's normal business operations or debt covenants.

The company also recorded a pre-tax restructuring charge of $11 million in the fourth quarter as a result of repositioning actions taken to reduce the company's cost structure and better align around channels and growth platforms. Excluding the impairment and restructuring charges and acquisition related costs, operating income increased 18 percent over the prior year quarter to $94 million and operating margins expanded 30 basis points to 10.9 percent.

"We delivered strong sales and cash flow performance in the fourth quarter," added Hogan, "despite softness in western European and residential water treatment component sales. While the goodwill impairment charge and restructuring initiatives significantly impacted reported profitability in the quarter, adjusted operating performance was solid as pricing and productivity helped offset inflation and continued global investments."

FOURTH QUARTER BUSINESS HIGHLIGHTS

Water sales grew 21 percent year-over-year to $608 million in the fourth quarter, with CPT contributing 18 percentage points. Year-over-year sales growth was negatively impacted by approximately 3 percentage points due to sales in 2010 related to the GIWW project. Within the five Water global businesses, the fourth quarter sales performances as compared to the same quarter last year were as follows:

Residential Flow sales were up 7 percent, with strong double-digit growth in agricultural products and U.S. residential pumps, partly offset by softness in western Europe.
Residential Filtration sales were up 5 percent, reflecting continued strength in fast growth regions, offset by lower residential water treatment component sales in developed regions.
Pool sales were up 18 percent, driven by continued dealer expansion, new product introductions and demand for the energy-efficient Eco-Select product line.
Engineered Flow sales were down 25 percent, reflecting continued headwinds in the municipal end-market and a negative 17 percentage point impact from GIWW.
Filtration Solutions sales were up 136 percent, reflecting a 133 percentage point or $92 million contribution from the CPT acquisition. The remaining 3 percentage points reflected year-over-year sales growth in foodservice and desalination.

Water reported a fourth quarter operating loss of $142 million, compared to operating income of $55 million in the same period last year. Excluding the non-cash goodwill impairment charge, restructuring charges and acquisition related costs included in the Water segment, fourth quarter operating income increased 24 percent to $68 million while operating margins expanded 20 basis points to 11.2 percent. The benefits from price and productivity nearly offset the unfavorable impact of inflation and increased investments, while volume growth and the impact of CPT helped drive margins higher.

Technical Products delivered fourth quarter sales of $258 million, an increase of 2 percent versus the fourth quarter of last year.

Solid global demand drove double-digit growth across most of the end-markets served, including industrial, energy, infrastructure and commercial that collectively comprise more than 60 percent of Technical Products' sales. The communications end-market declined double-digits year-over-year, as expected, with general electronics sales roughly flat to prior year.
Sales in the U.S. were relatively flat year-over-year, with strong growth in industrial being offset by softness in communications. Western European sales grew modestly, and fast growth regions were up 25 percent.

Technical Products' fourth quarter reported operating income totaled $40 million, compared to $38 million in the same quarter last year. Excluding the restructuring charges, fourth quarter operating income was $42 million, up 12 percent, and operating margins expanded 140 basis points to 16.4 percent. Pricing and productivity gains more than offset the negative impact from inflation and continued growth investments.

OUTLOOK

Pentair continues to expect full year 2012 EPS to be between $2.60 and $2.75, which represents an increase of approximately 8 to 14 percent from 2011 adjusted EPS of $2.41. The company anticipates full year 2012 sales to be in the range of approximately $3.7 billion to $3.8 billion, or up 7 to 10 percent, which includes an approximate 3 percentage point contribution from the CPT acquisition. The company expects to generate free cash flow of approximately $270 million in 2012.

"As we exit 2011 and look toward this year, we are well positioned for growth," continued Hogan. "Greater scale in fast-growth regions, more innovative solutions for an expanding customer base and the added technology and application know-how gained with the CPT acquisition position us well for continued success. We expect solid price realization, accelerated productivity and the benefit from repositioning actions to drive margin expansion and profitable growth in 2012."

First quarter 2012 EPS is expected to be $0.53 to $0.57. This compares to first quarter 2011 reported EPS of $0.51, or $0.52 on an adjusted basis. The company expects first quarter 2012 revenue to be up 13 to 15 percent compared to the same period last year, including the contribution from the CPT acquisition.

CONFERENCE CALL

Pentair Chairman and CEO Randall J. Hogan and Chief Financial Officer John L. Stauch will discuss the company's fourth quarter and full year 2011 performance and first quarter and full year 2012 outlook on a two-way conference call with investors at 9 a.m. Eastern today. A live audio webcast of the call, along with the related presentation, can be accessed in the Investors section of the company's website (www.pentair.com) shortly before the call begins. Reconciliations of non-GAAP financial measures are set forth in the attachments to this release and in the presentation, both of which can be found on Pentair's web site. The webcast and presentation will be archived at the same site following the conclusion of the event.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

Any statements made about the company's anticipated financial results are forward-looking statements subject to risks and uncertainties such as the company's ability to successfully and timely integrate and realize the benefits of acquisitions; the magnitude, timing and scope of recovery from the global economic downturn, including the current European Union debt crisis, or any potential future downturn; the strength of housing and related markets; the risk that expected benefits from restructuring and other cost reduction plans may not be fully realized, or may take longer to realize than expected; foreign currency effects; material inflation outpacing the company's productivity and pricing actions; retail, commercial and industrial demand; increased risks associated with operating foreign businesses; product introductions; pricing and other competitive pressures; and the company's ability to achieve its long-term strategic operating goals, as well as other risk factors set forth in our SEC filings. Forward-looking statements included herein are made as of the date hereof, and the company undertakes no obligation to update publicly such statements to reflect subsequent events or circumstances. Actual results could differ materially from anticipated results.

ABOUT PENTAIR, INC.

Pentair (www.pentair.com) is a global diversified industrial company headquartered in Minneapolis, Minnesota. Its Water Group is a global leader in providing innovative products and systems used worldwide in the movement, treatment, storage and enjoyment of water. Pentair's Technical Products Group is a leader in the global enclosures and thermal management markets, designing and manufacturing thermal management products and standard, modified, and custom enclosures that protect sensitive electronics and the people that use them. With 2011 revenues of $3.5 billion, Pentair employs over 15,000 people worldwide.

PENTAIR CONTACTS:

Sara Zawoyski
Vice President, Investor Relations
Tel.: (763) 656-5575
E-mail: sara.zawoyski@pentair.com

Betsy Day
Corporate Communications Manager
Tel.: (763) 656-5537
E-mail: betsy.day@pentair.com


Pentair, Inc. and Subsidiaries
Condensed Consolidated Statements of Income (Unaudited)

			Three months ended				Year ended
			December 31		December 31		December 31		December 31
In thousands, except per-share data			2011		2010		2011		2010
Net sales		$	865,692	$	753,858	$	3,456,686	$	3,030,773
Cost of goods sold			600,827		521,630		2,382,964		2,100,133
Gross profit			264,865		232,228		1,073,722		930,640
	% of net sales		30.6%		30.8%		31.1%		30.7%
Selling, general and administrative		164,267			136,542		626,527		529,329
	% of net sales		19.0%		18.1%		18.1%		17.5%
Research and development			20,063		16,081		78,158		67,156
	% of net sales		2.3%		2.1%		2.3%		2.2%
Goodwill impairment		200,520			—		200,520		—
Operating income			(119,985)		79,605		168,517		334,155
	% of net sales		-13.9%		10.6%		4.9%		11.0%

Other (income) expense:

Equity income of unconsolidated subsidiaries			(417)		(302)		(1,898)		(2,108)
Net interest expense			17,524		9,067		58,835		36,116
	% of net sales		2.0%		1.2%		1.7%		1.2%
Income from continuing operations before income taxes
and noncontrolling interest		(137,092)			70,840		111,580		300,147
Provision for income taxes			(3,388)		21,263		73,059		97,200
	effective tax rate		2.5%		30.0%		65.5%		32.4%
Income from continuing operations			(133,704)		49,577		38,521		202,947
Loss on disposal of discontinued operations, net of tax			—		(2,292)		—		(626)
Net income before noncontrolling interest			(133,704)		47,285		38,521		202,321
Noncontrolling interest			419		909		4,299		4,493
Net income attributable to Pentair, Inc.		$	(134,123)	$	46,376	$	34,222	$	197,828

Net income from continuing operations attributable to Pentair, Inc.		$	(134,123)	$	48,668	$	34,222	$	198,454

Earnings per common share attributable to Pentair, Inc.
*Basic*
Continuing operations		$	(1.36)	$	0.50	$	0.35	$	2.02
Discontinued operations			—		(0.02)		—		(0.01)
Basic earnings per common share		$	(1.36)	$	0.48	$	0.35	$	2.01

*Diluted*
Continuing operations		$	(1.36)	$	0.49	$	0.34	$	2.00
Discontinued operations			—		(0.02)		—		(0.01)
Diluted earnings per common share		$	(1.36)	$	0.47	$	0.34	$	1.99


Weighted average common shares outstanding
Basic			98,395		98,219		98,233		98,037
Diluted			98,395		99,606		99,753		99,294

Cash dividends declared per common share		$	0.20	$	0.19	$	0.80	$	0.76


Pentair, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets (Unaudited)

		December 31		December 31
In thousands		2011		2010
Assets
Current assets
Cash and cash equivalents	$	50,077	$	46,056
Accounts and notes receivable, net		569,204		516,905
Inventories		449,863		405,356
Deferred tax assets		60,899		56,349
Prepaid expenses and other current assets		107,792		44,631
Total current assets		1,237,835		1,069,297

Property, plant and equipment, net		387,525		329,435

Other assets
Goodwill		2,273,918		2,066,044
Intangibles, net		592,285		453,570
Other		94,750		55,187
Total other assets		2,960,953		2,574,801
Total assets	$	4,586,313	$	3,973,533

Liabilities and Shareholders' Equity
Current liabilities
Short-term borrowings	$	3,694	$	4,933
Current maturities of long-term debt		1,168		18
Accounts payable		294,858		262,357
Employee compensation and benefits		109,361		107,995
Current pension and post-retirement benefits		9,052		8,733
Accrued product claims and warranties		42,630		42,295
Income taxes		14,547		5,964
Accrued rebates and sales incentives		37,009		33,559
Other current liabilities		129,522		80,942
Total current liabilities		641,841		546,796

Other liabilities
Long-term debt		1,304,225		702,521
Pension and other retirement compensation		248,615		209,859
Post-retirement medical and other benefits		31,774		30,325
Long-term income taxes payable		26,470		23,507
Deferred tax liabilities		188,957		169,198
Other non-current liabilities		97,039		86,295
Total liabilities		2,538,921		1,768,501

Shareholders' equity		2,047,392		2,205,032
Total liabilities and shareholders' equity	$	4,586,313	$	3,973,533

Days sales in accounts receivable (13 month moving average)		61		60
Days inventory on hand (13 month moving average)		83		83
Days in accounts payable (13 month moving average)		71		71


		Pentair, Inc. and Subsidiaries
		Condensed Consolidated Statements of Cash Flows (Unaudited)
				Year Ended
				December 31		December 31
In thousands				2011		2010
Operating activities
Net income before noncontrolling interest			$	38,521	$	202,321
Adjustments to reconcile net income to net cash provided by (used for) operating activities
Loss on disposal of discontinued operations				—		626
Equity income of unconsolidated subsidiaries				(1,898)		(2,108)
Depreciation				66,235		57,995
Amortization				41,897		26,184
Deferred income taxes				(5,583)		29,453
Stock compensation				19,489		21,468
Goodwill impairment				200,520		—
Excess tax benefits from stock-based compensation				(3,310)		(2,686)
Loss on sale of assets				933		466
Changes in assets and liabilities, net of effects of business acquisitions and dispositions
	Accounts and notes receivable			1,348		(62,344)
	Inventories			18,263		(44,495)
	Prepaid expenses and other current assets			10,032		2,777
	Accounts payable			(24,330)		55,321
	Employee compensation and benefits			(20,486)		27,252
	Accrued product claims and warranties			(1,984)		8,068
	Income taxes			10,084		1,791
	Other current liabilities			10,921		561
	Pension and post-retirement benefits			(24,596)		(43,024)
	Other assets and liabilities			(15,830)		(9,250)
		Net cash provided by (used for) operating activities		320,226		270,376

Investing activities
Capital expenditures				(73,348)		(59,523)
Proceeds from sale of property and equipment				1,310		358
Acquisitions, net of cash acquired				(733,105)		—
Other				(2,943)		(1,148)
		Net cash provided by (used for) investing activities		(808,086)		(60,313)

Financing activities
Net short-term borrowings				(1,239)		2,728
Proceeds from long-term debt				1,421,602		703,641
Repayment of long-term debt				(832,147)		(804,713)
Debt issuance costs				(8,973)		(50)
Excess tax benefits from stock-based compensation				3,310		2,686
Stock issued to employees, net of shares withheld				13,322		9,941
Repurchases of common stock				(12,785)		(24,712)
Dividends paid				(79,537)		(75,465)
Distribution to noncontrolling interest				—		(4,647)
		Net cash provided by (used for) financing activities		503,553		(190,591)

Effect of exchange rate changes on cash and cash equivalents				(11,672)		(6,812)
Change in cash and cash equivalents				4,021		12,660
Cash and cash equivalents, beginning of period				46,056		33,396
Cash and cash equivalents, end of period			$	50,077	$	46,056

Free cash flow
Net cash provided by (used for) continuing operations			$	320,226	$	270,376
Capital expenditures				(73,348)		(59,523)
Proceeds from sale of property and equipment				1,310		358
Free cash flow			$	248,188	$	211,211


Pentair, Inc. and Subsidiaries
Supplemental Financial Information by Reportable Business Segment (Unaudited)

		First Qtr		Second Qtr		Third Qtr	Fourth Qtr		Year
In thousands		2011		2011		2011	2011		2011
*Net sales to external customers*
Water Group	$	515,368	$	631,994	$	614,557	607,885	$	2,369,804
Technical Products Group		274,905		278,181		275,989	257,807		1,086,882
Consolidated	$	790,273	$	910,175	$	890,546	865,692	$	3,456,686

*Intersegment sales*
Water Group	$	455	$	316	$	426	390	$	1,587
Technical Products Group		999		1,559		1,755	1,313		5,626
Other		(1,454)		(1,875)		(2,181)	(1,703)		(7,213)
Consolidated	$	—	$	—	$	—	—	$	—

*Operating income (loss)*
Water Group	$	56,528	$	84,521	$	59,608	(142,346)	$	58,311
Technical Products Group		48,087		48,261		48,611	40,281		185,240
Other		(18,438)		(23,360)		(15,316)	(17,920)		(75,034)
Consolidated	$	86,177	$	109,422	$	92,903	(119,985)	$	168,517

*Operating income as a percent of net sales*
Water		11.0%		13.4%		9.7%	(23.4%)		2.5%
Technical Products		17.5%		17.3%		17.6%	15.6%		17.0%
Consolidated		10.9%		12.0%		10.4%	(13.9%)		4.9%


		First Qtr		Second Qtr		Third Qtr	Fourth Qtr		Year
In thousands		2010		2010		2010	2010		2010
*Net sales to external customers*
Water Group	$	478,038	$	549,318	$	512,587	501,338	$	2,041,281
Technical Products Group		228,975		246,849		261,148	252,520		989,492
Consolidated	$	707,013	$	796,167	$	773,735	753,858	$	3,030,773

*Intersegment sales*
Water Group	$	517	$	427	$	442	444	$	1,830
Technical Products Group		703		1,047		1,154	913		3,817
Other		(1,220)		(1,474)		(1,596)	(1,357)		(5,647)
Consolidated	$	—	$	—	$	—	—	$	—

*Operating income (loss)*
Water Group	$	42,138	$	75,954	$	58,457	55,039	$	231,588
Technical Products Group		33,098		37,990		42,605	37,840		151,533
Other		(11,635)		(13,818)		(10,239)	(13,274)		(48,966)
Consolidated	$	63,601	$	100,126	$	90,823	79,605	$	334,155

*Operating income as a percent of net sales*
Water		8.8%		13.8%		11.4%	11.0%		11.3%
Technical Products		14.5%		15.4%		16.3%	15.0%		15.3%
Consolidated		9.0%		12.6%		11.7%	10.6%		11.0%

Pentair, Inc. and Subsidiaries
Reconciliation of the GAAP "As Reported" year ending December 31, 2011 to the "Adjusted" non-GAAP
excluding the effect of 2011 adjustments (Unaudited)


Total Pentair	First Quarter	Second Quarter	Third Quarter	Fourth Quarter	Year
In thousands, except per-share data	2011	2011	2011	2011	2011
Net sales	$ 790,273	$ 910,175	$ 890,546	$ 865,692	$ 3,456,686

Operating income - as reported	86,177	109,422	92,903	(119,985)	168,517
% of net sales	10.9%	12.0%	10.4%	(13.9%)	4.9%
Adjustments:
CPT deal related costs	1,709	6,136	—	466	8,311
Restructuring	—	—	2,079	10,851	12,930
Inventory step-up and customer backlog	197	5,256	5,798	2,173	13,424
Goodwill impairment	—	—	—	200,520	200,520
Operating income - as adjusted	88,083	120,814	100,780	94,025	403,702
% of net sales	11.1%	13.3%	11.3%	10.9%	11.7%

Net income from continuing operations attributable
to Pentair, Inc. - as reported	50,541	66,712	51,092	(134,123)	34,222
Adjustments net of tax	1,287	8,803	6,561	189,824	206,475
Net income from continuing operations attributable
to Pentair, Inc. - as adjusted	51,828	75,515	57,653	55,701	240,697

Continuing earnings per common share attributable to Pentair, Inc. - diluted
Diluted earnings per common share - as reported	$ 0.51	$ 0.67	$ 0.51	$ (1.36)	$ 0.34
Adjustments	0.01	0.08	0.07	1.92	2.07
Diluted earnings per common share - as adjusted	$ 0.52	$ 0.75	$ 0.58	$ 0.56	$ 2.41

Pentair, Inc. and Subsidiaries
Reconciliation of the GAAP "As Reported" year ending December 31, 2011 to the "Adjusted" non-GAAP
excluding the effect of 2011 adjustments (Unaudited)


Water	First Quarter	Second Quarter	Third Quarter	Fourth Quarter	Year
In thousands	2011	2011	2011	2011	2011
Net sales	$ 515,368	$ 631,994	$ 614,557	$ 607,885	$ 2,369,804

Operating income - as reported	56,528	84,521	59,608	(142,346)	58,311
% of net sales	11.0%	13.4%	9.7%	(23.4%)	2.5%
Adjustments:
Restructuring	—	—	1,955	7,845	9,800
Inventory step-up and customer backlog	197	5,256	5,798	2,173	13,424
Goodwill impairment	—	—	—	200,520	200,520
Operating income - as adjusted	56,725	89,777	67,361	68,192	282,055
% of net sales	11.0%	14.2%	11.0%	11.2%	11.9%


Technical Products
Net sales	$ 274,905	$ 278,181	$ 275,989	$ 257,807	1,086,882

Operating income - as reported	48,087	48,261	48,611	40,281	185,240
% of net sales	17.5%	17.3%	17.6%	15.6%	17.0%
Adjustments - Restructuring	—	—	124	2,010	2,134
Operating income - as adjusted	48,087	48,261	48,735	42,291	187,374
% of net sales	17.5%	17.3%	17.7%	16.4%	17.2%

SOURCE Pentair, Inc.

Purestream Technology Deploys Second Water Treatment Pilot in Alberta

Tue, 31 Jan 2012 11:15:00 +0000

Purestream Technology Deploys Second Water Treatment Pilot in Alberta

Pilot is Important First Step Toward Future Saskatchewan Recycling Project

PR Newswire

STRATHMORE, Alberta, Canada, Jan. 31, 2012 /PRNewswire/ -- Purestream Technology successfully initiated a pilot project in Strathmore, Alberta using its AVARA System to treat produced water from oil and gas operations in the Manville Sandstones of Southern Saskatchewan. Purestream is demonstrating its ability to treat and recycle water for potential future use in enhanced gas recovery in the Manville and for hydraulic fracturing in the Saskatchewan portion of the Bakken Shale. In November, Purestream signed a commercial contract with Whiting Petroleum to recycle water from its Bakken operations in North Dakota.

To view the multimedia assets associated with this release, please click http://www.prnewswire.com/news-releases/purestream-technology-deploys-second-water-treatment-pilot-in-alberta-138375819.html

Oil and Gas producers, government officials and the media will tour the Purestream pilot facility in Strathmore to learn about the technology's ability to effectively treat and recycle produced and flowback water from hydraulic fracturing operations.

"We are excited about this pilot project and the potential to treat and recycle water for oil and gas operations in Saskatchewan and elsewhere in Canada," said Purestream CEO Neil Richardson. "Our AVARA technology is uniquely capable of helping producers across Canada meet increasingly stringent environmental requirements."

For information on touring the AVARA pilot in Strathmore, Alberta, please contact Andrea Metil at ametil@pstrep.com.

Late last year, Purestream performed a successful pilot project near Edson, Alberta that demonstrated the AVARA's ability to treat produced and flowback water from several Canadian oil and gas production facilities. The AVARA System can treat water with a broad range of characteristics and allow for beneficial reuse.

Purestream's AVARA System was developed in partnership with Utah State University's Energy and Space Dynamics Labs. It cleans and recycles wastewater using an accelerated vapor recompression process which removes harmful contaminants and renders it cleaner than drinking water.

Purestream Technology is a privately held company that offers a suite of patented environmental solutions focused on the treatment of wastewater, air emissions, renewable energy and data tracking. Water solutions include evaporative and vapor recompression technologies and other thermal processes for air and water challenges. Purestream partnered with USURF's Energy and Space Dynamics labs in 2007 and continues aggressive research and development of future oil and gas solutions.

www.purestreamtechnology.com

Contact:
Andrea Metil
+1-412-728-2329
ametil@pstrep.com

SOURCE Purestream Technology

Flood Relief Measures in Thailand and The Success of BOI FAIR

Tue, 31 Jan 2012 10:05:00 +0000

Flood Relief Measures in Thailand and The Success of BOI FAIR

PR Newswire

BANGKOK, January 31, 2012 /PRNewswire/ --

In response to the recent flooding, the Thailand Board of Investment (BOI) has introduced a series of promotional measures and activities designed to restore investor confidence in Thailand and to regain momentum in the country's industrial development.

(Photo: http://photos.prnewswire.com/prnh/20120131/HK44659 )

These will include special tax incentive packages for affected companies and initiatives to encourage infrastructure development to prevent future floods.

To qualify for the tax incentives approved by the BOI on 29 December 2011, flood-affected companies must operate BOI-promoted projects that have a remaining period of unused corporate income tax exemption (http://www.boi.go.th/upload/content/flood%20relief%20measures_33601.pdf).

Furthermore, to help prevent flooding of industrial facilities in the future, the BOI will extend an eight-year corporate income tax exemption with a cap of 200% of investment, excluding costs of land and working capital, to all industrial estates and industrial zones that invest in flood-preventing systems and infrastructure.

In addition to these tax incentive packages, the BOI also worked to enhance confidence in Thailand as an investment destination among Thai and foreign businesspeople by organizing the giant BOI Fair 2011, "Going Green for the Future", which took place from 5 to 22 January of this year. The event fulfilled its goals by attracting managers and businesspeople from all over the country as well as media representatives from a long list of foreign countries.

The Fair's wide spectrum of activities brought businesspeople from many nations together to exchange ideas and negotiate almost 1500 new business projects, while sales of merchandise totalled 4,054 million baht, surpassing the target amount by more than 1 billion baht. The CEO Forum, one of the Fair's key events, attracted more than 500 high-level managers from the international business community, adding further to the event's success in fulfilling and surpassing its objectives.

Flood Relief Measures in Thailand and The Success of BOI FAIR

Tue, 31 Jan 2012 09:43:38 +0000

Flood Relief Measures in Thailand and The Success of BOI FAIR

PR Newswire

BANGKOK, Jan. 31, 2012 /PRNewswire-Asia/ -- In response to the recent flooding, the Thailand Board of Investment (BOI) has introduced a series of promotional measures and activities designed to restore investor confidence in Thailand and to regain momentum in the country's industrial development.

(Photo: http://photos.prnewswire.com/prnh/20120131/HK44659 )

These will include special tax incentive packages for affected companies and initiatives to encourage infrastructure development to prevent future floods.

SOURCE Thailand Board of Investment (BOI)