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http://www.investegate.co.uk/Article.aspx?id=201106130700102742I
In a move to strengthen its presence in the Norwegian market, international engineer Rotork (ROR) has acquired Valco Valves & Automation AS, its Norwegian sales and service agent, for 2 million pounds. "Our strategy is to provide our customers with local support and this acquisition continues our international expansion plan," commented chief executive Peter France. Shares in Rotork, which reported record order intake in the first quarter, climbed 12p to 1,642p
Rotork confident for 2011 Date: Thursday 21 Apr 2011 LONDON (ShareCast) - Bath-based engineering company Rotork said it has started the year well and its record order intake and current activity levels makes it confident in making further progress in 2011. The company, which makes valves for the oil and gas, power and water industries, said its order intake in the first quarter reached a record of £108m, 18% ahead of the prior year. Rotork expects a stronger second half performance than the first half as it delivers on various projects. The group's order book has risen to £153m, 10% higher than the year end and 18% ahead of the same point last year. The group expects first half results will show margins slightly lower than the prior year, as it continues to grow the business and absorbs higher raw material costs. In Japan Rotork said the market has already started to return as it supports its customers in repairing and replacing damaged equipment.
Interim Management Statement Rotork p.l.c, the market leading actuator manufacturer, is today publishing its first Interim Management Statement for 2011 covering the period from 1 January to 21 April 2011. The year has started well and we are pleased to report record order intake in the first quarter of £108m, 18% ahead of the prior year. Shipments are slightly down on the prior year due to the timing of delivery requests by our customers. We are anticipating a stronger second half performance than the first half as these projects are delivered. The strong order intake and level of shipments has resulted in a Group order book of £153m, 10% higher than the year end and 18% ahead of the same point last year. We anticipate the first half results will show margins slightly lower than the prior year, reflecting our continued investment in the business for growth and higher raw material costs. In Rotork Fluid Systems, margins in the first half will show a reduction, although this is expected to reverse in the second half. Management remains focused on mitigating the effect of higher raw material costs through sourcing initiatives. Overall, we anticipate Group margins for the full year will be similar to the prior year. The market in Japan has already started to return and we are supporting our Japanese customers in repairing and replacing damaged equipment. A number of nuclear power projects have been delayed while governments assess the risks. However, we expect the investment in this market to return in the medium to long term with increased maintenance activity in the short term.
http://www.investegate.co.uk/Article.aspx?id=201104210700133177F
Engineering group Rotork (ROR) has signed a contract to acquire all the outstanding issued share capital of Rotork Servo Controles de Mexico (RSCM), its Mexican sales and service agent, that it does not already own. "Our acquisition...of RSCM signals our intention to invest in this business recognising the significant opportunities for us in the region," commented Peter France, chief executive of Rotork Group. Gross assets of RSCM are approximately 1.6 million pounds. Shares in Rotork rose 6p to 1,773p.
http://www.hemscott.com/news/static/rna/item.do?newsId=129847598819869
looks like this might have been the driver for yesterdays rise? 29.07 0950 GMT [Dow Jones] UBS raises Rotork (ROR.LN) to buy from neutral and lifts target price to 1900p from 1400p. Says this reflects higher than expected order input and the potential upside from the introduction of the CVA range control valve actuator product. Brokerage says long-term growth seems assured, not just from end-market growth but "due to structural drivers such as increased valve automation and the use of electric actuators in process applications, which offers customers economic efficiencies." Shares +6.3% at 1484p. (ishaq.siddiqi@dowjones.com)
Up and away out of the blue this morning, "lovely" Rotork pipeline actuators in project to provide improved energy for Brazil.
This is more like it._____http://www.investegate.co.uk/Article.aspx?id=200903030700091696O