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sterlingsihi.com

Stage

Acquired | Acquired

Valuation

$0000 

About Sihi Group

SIHI Group designs and manufactures liquid and gas pumping systems. The company offers liquid pumps, vacuum pumps, compressors, and engineered systems for various applications in chemical, pharmaceutical, power, waste water, food, beverage, plastic, steel, paper, and machinery manufacturing industries.

Sihi Group Headquarter Location

Havenstraat 22-28

Beverwijk,

Netherlands

31-2-51-26-32-32

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Sihi Group Patents

Sihi Group has filed 1 patent.

The 3 most popular patent topics include:

  • Capacitors
  • Electrochemistry
  • Fuel cells
patents chart

Application Date

Grant Date

Title

Related Topics

Status

6/7/2017

11/10/2020

Electrochemistry, Capacitors, Lithium-ion batteries, Polymers, Fuel cells

Grant

Application Date

6/7/2017

Grant Date

11/10/2020

Title

Related Topics

Electrochemistry, Capacitors, Lithium-ion batteries, Polymers, Fuel cells

Status

Grant

Latest Sihi Group News

Flowserve : Reports Third Quarter 2015 Results

Oct 29, 2015

(You can enter multiple email addresses separated by commas) Message : Delivers Adjusted1 EPS of $0.81 for 2015 Third Quarter SIHI integration and realignment programs progressing better than expected Returned $320 million to shareholders year-to-date through repurchases and dividends Full year results in current market environment expected at or around the lower end of guidance range Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today reported Adjusted1 Earnings Per Share (EPS) of $0.81 for the 2015 third quarter, which includes $0.06 per share of negative currency translation as compared to last year and $0.03 per share of bad debt expense. As previously disclosed, Flowserve’s 2015 Adjusted EPS calculation excludes the impact of the SIHI Group (“SIHI”) acquisition, which was completed on January 7, 2015, as well as below-the-line foreign currency effects and specific one-time events, such as the 2015 realignment initiatives. In the 2015 third quarter, Flowserve’s Adjusted EPS excluded $0.11 per share of these items. Third Quarter 2015 Summary (all comparisons versus prior year quarter, unless otherwise noted): Bookings were $1.06 billion, including $69.7 million from SIHI Excluding SIHI’s contribution, bookings decreased 6.3% sequentially and 14.6% as compared to prior year on a constant currency basis Aftermarket bookings of $482 million, included $22 million from SIHI, and increased 2.0% sequentially and 2.1% compared to the prior year on a constant currency basis Excluding SIHI’s contribution, aftermarket bookings increased 2.3% sequentially and decreased 2.2% compared to the prior year on a constant currency basis Sales were $1.10 billion, including $73.7 million from SIHI Excluding SIHI’s contribution, sales decreased 4.5% sequentially and 5.6% as compared to prior year on a constant currency basis Aftermarket sales were $462 million, or approximately 42% of total sales, and decreased 4.6% sequentially and increased 1.8% compared to prior year on a constant currency basis Excluding SIHI’s contribution, aftermarket sales decreased 2.3% on a constant currency basis Gross profit was $388.8 million, including $20.9 million from SIHI Gross profit increased 1.4% on a constant currency basis Gross margin excluding adjusted items was 36.1%, up 110 basis points SG&A expense was $223.5 million, including $20.5 million from SIHI Excluding SIHI and adjusted items, SG&A decreased $27.9 million or 12.1% Operating income was $167.8 million, including realignment expense of $1.7 million Adjusted operating margin, excluding realignment expenses and SIHI operating income of $0.4 million, was 16.5%, up 50 basis points Backlog at September 30, 2015 was $2.56 billion, including SIHI backlog of $118 million Excluding SIHI, backlog decreased 5.2% constant currency as compared to prior year 1 See Reconciliation of Non-GAAP Measures table for detailed reconciliation of reported results to adjusted measures. “Flowserve produced solid operating results for the 2015 third quarter against a persistently challenging market environment, which included constrained global capital spending, a further reduction in oil prices, weakness in our short cycle and emerging markets and the strong U.S. dollar,” said Mark Blinn, Flowserve’s president and chief executive officer. “Operationally, we continued to execute at a high level as evidenced by our strong margin performance.” “We are moving quickly on our previously announced $100 million of realignment investment including immediate headcount reductions as well as the announcements of several permanent facility closures. We are also identifying at least $25 million of additional investment to further reduce our cost structure through a variety of levers, including streamlining our management structure, improving our manufacturing costs and implementing additional product rationalization, with dollar for dollar cost savings opportunity.” “With the success of our previously announced actions underway and new opportunities identified, we now believe Flowserve will deliver approximately $125 million of structural run-rate savings annually, compared to an earlier estimate of $70 million, on a total investment of approximately $125 million. Additionally, the integration and realignment activities associated with our SIHI acquisition remain on-track to support SIHI product growth. We will continue to focus on disciplined investment opportunities, such as these, to drive long-term value for our shareholders, to effectively capitalize on opportunities as and when markets improve,” Blinn added. “We have successfully weathered difficult market cycles before, and are taking swift action to best position Flowserve through the current cycle and to offset near-term market weakness. Overall, we remain confident in the underlying strength of our platform, the long-term secular trends in our served markets, our ability for further long-term continuous improvement and our knowledge that we are well positioned strategically to drive long-term growth,” Blinn concluded. Financial Performance and Guidance Karyn Ovelmen, executive vice president and chief financial officer, commented, “Our third quarter adjusted results were highlighted by our gross and operating margin performance. Adjusted EPS1 of $0.81 was solid in the current environment, considering the negative currency translation and $0.03 per share of bad debt expense. Flowserve’s reported earnings for the 2015 third quarter were $0.70 per share, reflecting the impact of adjusted items which include negative below-the-line currency impact of $0.02, realignment expenses of $0.01, and a non-cash valuation allowance on deferred tax assets of $0.08.” Flowserve maintained its EPS and revenue guidance, but now expects it to track at or around the lower end of its Adjusted EPS and revenue guidance of $3.10 to $3.40 and down 10% to 15%, respectively, both excluding SIHI. This expectation is based upon third quarter year-to-date results and reflects increased uncertainty and reduced visibility in our markets, particularly as it relates to customer spending and order acceptance. Segment Performance Flowserve reports its operations through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD) and Flow Control Division (FCD). Key financial highlights of segment performance for the third quarter 2015 include:  

  • Where is Sihi Group's headquarters?

    Sihi Group's headquarters is located at Havenstraat 22-28, Beverwijk.

  • What is Sihi Group's latest funding round?

    Sihi Group's latest funding round is Acquired.

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