CIRCOR International, Inc. (NYSE: CIR), a provider of valves and other highly engineered products and subsystems that control the flow of fluids safely and efficiently in the aerospace, energy and industrial markets, announced that its Pipeline Engineering & Supply Co. Ltd (“Pipeline Engineering”) Energy Products Group subsidiary has won The Queen's Award for Enterprise, which is the most prestigious award in the United Kingdom for business performance. The award was presented to Pipeline Engineering based on its export growth of 150% since 2004. CIRCOR acquired Pipeline Engineering in September 2009.
“We are delighted that our recently acquired UK subsidiary, Pipeline Engineering, has received top honors for its performance during the past six years,” said CIRCOR Chairman and Chief Executive Officer Bill Higgins. “Pipeline Engineering is an example of our strategy to acquire complementary businesses that expand our product offerings and customer relationships while increasing our international footprint. Pipeline Engineering’s presence outside North America, especially in Europe, Africa and the Middle East, provides a great addition to our to Pipeline Solutions strategy.”
Pipeline Engineering is a turn-key manufacturer of a full range of products and services to assist pipeline cleaning, pipeline integrity and flow assurance in the oil and gas industry. In addition, Pipeline Engineering has a specialized team of onshore and offshore certified engineers and technicians that oversee related engineered service projects on behalf of their clients.
CIRCOR’s Energy Products Group designs, manufactures and distributes market-leading ball, check, control and safety relief valves, as well as pipeline measurement and control systems for use in oil and gas applications. The Energy Group’s flagship brands include: KF, Pibiviesse, Contromatics, Mallard Control, Hydroseal and Sagebrush Pipeline Equipment.
About CIRCOR International, Inc.
CIRCOR International, Inc. provides valves and other highly engineered products and subsystems that control the flow of fluids safely and efficiently in the aerospace, energy and industrial markets. With more than 9,000 customers in over 100 countries, CIRCOR has a diversified product portfolio with recognized, market-leading brands. CIRCOR’s strategy includes growing organically by investing in new, differentiated products; adding value to component products; and increasing the development of mission-critical subsystems. The Company also plans to leverage its strong balance sheet to acquire complementary businesses.
Safe Harbor Statement
This press release contains 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. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which are, in some cases, beyond the control of CIRCOR. These statements include, but are not limited to, the Company’s expectations related to the performance of the Pipeline Engineering & Supply Co. Ltd acquisition. Actual events, performance or results could differ materially from the anticipated events, performance or results expressed or implied by such forward-looking statements. BEFORE MAKING ANY INVESTMENT DECISIONS REGARDING CIRCOR, THE COMPANY STRONGLY ADVISES YOU TO READ THE SECTION ENTITLED "RISK FACTORS" IN ITS MOST RECENT ANNUAL REPORT ON FORM 10-K, WHICH CAN BE ACCESSED UNDER THE "INVESTORS" LINK OF CIRCOR’S WEBSITE AT WWW.CIRCOR.COM. CIRCOR undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Frederic M. Burditt, 781-270-1200
Chief Financial Officer