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Flow Research |
In the
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| In the News keeps you
up-to-date on important events in the flow and process industries. |
| ABB Reports $691 Million Dollar
Loss
Zurich, Switzerland, February 13, 2002 - ABB today reported a US$ 691
million net loss for 2001, after an increase in provisions for asbestos
liabilities, a change in the calculation method for some reinsurance
reserves, asset write-downs, and costs and provisions for project losses.
In local currencies, orders remained stable and revenues increased. EBIT
(Earnings Before Interest and Taxes) fell to US$ 279 million from US$
1,385 million in 2000.
Record cash generation in the fourth quarter helped reduce net debt by US$
2,194 million, more than twice the company's target. The restructuring
program, announced in July 2001, is well ahead of schedule, ABB said. |
| Flow Research Comment: ABB's
losses for asbestos liabilities are due to asbestos liability claims
against Combustion Engineering, an ABB subsidiary in the United
States. According to ABB:
"The number of new claims filed against Combustion
Engineering increased from 39,000 in 2000 to 55,000 in 2001 and the
average amount paid per claim increased from US$ 4,833 in 2000 to US$
6,079 in 2001. As of December 31, 2001, around 94,000 claims were pending
against Combustion Engineering compared to approximately 66,000 at the end
of 2000." |
| In its automation technology
products group, ABB blames reduced orders on weakened demand in North
America in the first half of 2001, followed by a reduction in orders from
Europe. The company attributes lessened demand in the marine,
construction, and pulp & paper industries to reduced consumer spending
after September 11, and to industry consolidation. |
| ABB is a very large company that
has acquired a large number of companies, some with competing product
lines. Some of the companies in instrumentation that ABB has acquired or
absorbed include Elsag Bailey, Fischer & Porter, Hartmann & Braun,
Kent, Taylor Instrument, and Combustion Engineering. ABB is still working
to rationalize its product line, and to have its customers accept its new
identity. |
| D-Flow and Sensant Corporation
Form Strategic Alliance
Oct. 31, 2001 – (San Leandro, California and Luleå, Sweden) Sensant
Corporation and D-Flow AB have
formed a strategic alliance to jointly market their complementary
technologies for ultrasonic gas measurement. Through this strategic
collaboration the companies offer a complete solution for the measurement
of gas flow, gas analysis, and level measurement - at prices that open new
markets. |
| Flow Research Comment:
D-Flow transit time ultrasonic technology is important because it breaks
through a line size barrier for ultrasonic flowmeters.
Traditionally, ultrasonic flowmeters have performed best in line sizes
from six inches and up. Larger pipe sizes give the ultrasonic signal more
space for the signal to pass through. D-Flow's transducers are
designed to work in pipe sizes from 1/4 inch to 2 inches. |
| D-Flow's ultrasonic transducers use
a "sing-around" technique in calculating flowrate.
D-Flow's transducers send out an ultrasonic signal, just like other
ultrasonic transducers. However, when this signal is received,
another ultrasonic signal is generated, the receipt of which generates
another signal, etc. By using multiple pulses in this way, timing
accuracy is enhanced. |
| D-Flow does not sell complete
ultrasonic flowmeters. Instead, the company sells its ultrasonic
transducers into the OEM market. |
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