Ian Melin-Jones
Japanese importation of logs, lumber and plywood in 2011 is likely to be the highest it has been since 2008
Japan is in urgent need of pre-fabricated houses and manufactured wood products in the aftermath of the earthquake and tsunami that hit the country in early March. Longer term, it can be expected that imports of commodity products such as plywood, lumber and logs will increase to this country, which is already one of the largest importers of wood products in the world, according to the Wood Resource Quarterly
The earthquake and tsunami that hit Japan on March 11 is first and foremost a humanitarian tragedy that is difficult to comprehend. Over 10,000 people died during and in the immediate aftermath; more than 400,000 people lost their homes and 100-150,000 buildings were destroyed. The re-building of towns, roads, railways and the power grid in the impacted region northeast of Tokyo will be a lengthy and difficult undertaking.
Much is still uncertain regarding short-term and long-term changes in the importation of forest products as a result of the catastrophe, but the need for construction material is going to be considerable in the coming years. Initially, there have been requests from Japanese authorities and trading houses for pre-fabricated houses. There have also been inquiries for glue-laminated products and other pre-cut wood products that more quickly can be used for re-building efforts, as opposed to need for basic commodities such as lumber and plywood. To start with, the government has asked for 30,000 temporary houses within two months.
Japan is one of the largest importers of wood products in the world. In 2010, the country imported wood raw-material (logs and chips) and processed wood products valued at more than ten billion dollars, which was 20 percent more than in 2009, as reported in the Wood Resource Quarterly. Japan was the biggest importer of wood chips and plywood, the second largest importer of logs, and was ranked the third biggest importer of lumber in the world last year.
It is not likely that imports of lumber, plywood and sawlogs will increase much in the next few months before ports and access roads have been cleared and the power has been restored for at least the most basic needs. Over the next 6-12 month, it can be expected that there will be a rise in demand for both lumber and plywood. This will result in increased importation of processed products and of logs to supply domestic Japanese mills. Based on contacts already established between importers in Japan and manufacturers around the world, it is probable that there will higher shipments of softwood lumber from Canada, the US, Russia, Sweden and Finland later this year. The major suppliers of plywood will most likely continue to be Malaysia, Indonesia and China.
Japan imported 3.6 and 4.1 million m3 of softwood logs in 2009 and 2010, respectively. As the domestic forest industry increases production later in 2011, imports of logs predominantly from the US, Canada, New Zealand and Russia can be expected to increase to their highest levels in at least three years.
ABB’s customized control system showcases its power in high-end projects
ABB solves the problem of off-machine coater automation control, and delivers large-scale paper projects to Sun Paper and Huatai. Each papermaker obtained tailor-made, world-leading technology and equipment, including drive control systems and high-efficiency frequency conversion motors, which not only ensure the smooth and efficient operation of the production lines, but also realize energy savings and emission reduction.
In January this year, ABB completed the commissioning of a PMC800 multi-drive control system in a high-end coated paper project at Huatai Paper. Installed on the mill’s PM8, a machine with an annual production of 700,000 tons, the system met Huatai’s design requirements – it solves the problem of off-machine coating automation control, ensures the smooth and highly efficient operation of the production line, and realizes energy savings and emission reduction.
There are only two off-machine coaters of the same type in China, and each is equipped with ABB drive systems. Commissioned in 2004 and 2005 respectively, each is operating well.
Lin Shuming, head of ABB Pulp and Paper North Asia, said: “It indicates that, by integrating unique innovative technologies, ABB’s customized service model successfully passed the test of China’s high-end paper projects. ”
Optimal utilization of advanced technology
During a recent interview, Chen Linfeng, Sales Director of ABB Pulp & Paper China, said that ABB tailored the drive control system PMC800 installed on Huatai’s PM8 according to customer requirements and specific application needs. The drive system on Huatai’s PM8 and coating machine is by far one of the most complicated drive systems used today in the paper industry. The system includes 223 drive sections, 241 AC frequency conversion motors and 10 AC800M controllers ,as well as additional control equipment. It provides AC drive and control for specific parts of the production line, including the paper machine, rewinder, off-machine coater, super calendar and winder.
In China, along with Huatai’s PM8, there are two other production lines with large off-machine coaters. These lines are located at the APP Dagang and Sun Paper.
Production lines of this type are commissioned at the average rate of one every three years. So far, there are several dozen such production lines in the world. The difficulty lies in the control of the off-machine coater, particularly the flying splice control. While the off-machine coater operates at a designated speed, this control method is applied so that online roll-changing can proceed without shutdowns.
Meeting this challenge requires drive equipment that has control precision down to a millisecond level (1-10 ms), along with extensive cooperation and experience between the drive supplier and equipment supplier. Because ABB meet these key requirements, it executes most similar drives projects worldwide.
At Huatai, there are numerous tension control points on the production line. When the speed on the production line varies, it is very difficult to precisely control the tension. The maximum speed of PM8’s coater is 2100 meter/min, which is the extreme speed of the machine and motor. But ABB’s leading drive control technology ensures the production line will operate smoothly and continuously even under such high speeds. This prevents the waste of items such as paper and paint that occur when the coater shuts down, and it also saves the additional labor, water and electricity needed to clean the coater..
To minimize energy consumption, ABB installed customized motors with optimization design on various parts of Huatai’s production line, including the winder, rewinder, super calendar and coater. This kind of motor is much smaller and lighter than standard motors. Its design is optimized according to a piece of equipment’s specific load requirements, so that control and efficiency are optimized. But the overload multiples are high enough to prevent high energy-consumption “light load drives”.
The current installed power of paper machines in China’s paper industry is dramatically higher than it was in the past. This renders the 400V motor, which was previously prevalent, unable to meet new industrial demands. As a result, ABB promotes its 690V grade low voltage motor – the ABB M3BP is the most high-efficiency AC motor in the industry. It is the first batch of motors to obtain China’s authentication of energy-saving product, with an efficiency level of IE2. So far, these new motors have been used in new projects at mills that include the APP Dagang mill, Lee Man Paper, and Huatai Paper.
“It has higher voltage than the 400V motor, so there is less heat loss due to smaller current, contributing to energy-saving,” said Linfeng. The efficiency of ABB’s standard motor is 3.8% higher than that of a normal motor. On Huatai’s PM8 production line with total installed power estimated to be 390,000 kW, this motor can annually save nearly 5 million yuan in electricity costs and almost 3700 tons of coal, a very outstanding amount.
Problem-solving with the world’s best combined service resources
In terms of technology, PM8 is the most complex paper machine in China - or even the world. So ABB selected its best global service team to ensure the project’s smooth implementation. During project execution, ABB Finland sent its principal engineers to meticulously oversee the software and equipment design work, key technology, project progress, etc. They worked with a Chinese team consisting of highly-skilled engineers who are experts in different aspects of the automation. These Chinese specialists could fully utilize local service and equipment manufacturing systems to provide Huatai with the most efficient and high-quality service possible.
Said Linfeng: “Engineers from ABB Finland and China cooperated by contributing their strengths and advantages, which overcame many technical difficulties, accomplished the project meeting its schedule, quality and quantity requirements, and achieved customer satisfaction.” In the past, projects at APP Dagang were usually accomplished by ABB’s European engineers. Now a Chinese local service team dominates the PM8 project.
Linfeng added: “Currently, the most challenging and state of the art paper equipment and projects in the world can be seen in China. The transition from participation roles to leadership roles indicates that ABB China’s local team is gradually growing up. Such localized customized service leads to the formation of long-term strategic cooperation and partnerships between ABB and its China customers. ABB has many customers similar to Huatai, such as, Sun Paper, Lee Man Paper, APP, HengAn, Nine Dragons Paper and Shan Ying Paper. ABB finds the best cooperation points with these customers, and establishes long-term partnerships. HengAn Paper has 15 paper machines, and ABB provided drive control systems and integrated automation control systems for 14 of them. The automation and electrification equipment of 16 paper machines and 3 pulp mills of Lee Man Paper all come from ABB. This is due to the tailor-made service, which provides a very cost-competitive plan.”
Shuming said: “The paper industry is a high energy consumption industry. ABB’s automation technology could significantly help customers improve energy efficiency, and realize green environmental production and sustainable development. Shandong Huatai Corporation is a world-leading paper enterprise. The long-lasting cooperation between ABB and Huatai demonstrates the mutual trust between the two partners, raising excellent cooperation model and energy-saving example for the industry.”
Metso to rebuild tissue machine for Syktyvkar Tissue Group in Russia
Metso will rebuild the existing PM 1 tissue line of Syktyvkar Tissue Group, JSC at their Syktyvkar mill in the republic of Komi in Russia. The first stage of the rebuild of the line is scheduled to be completed at the end of this year. The value of the order will not be disclosed.
Metso will rebuild the PM 1 tissue line to be of the Advantage DCT 100 type, similar to the mill’s PM 2 tissue line built by Metso. Metso’s delivery will in the first stage comprise a Metso deinking line with stock preparation equipment, an Advantage DCT 100 former section including an OptiFlo II TIS headbox, a press section, an Advantage AirCap hood and a reel. The delivery will also comprise Metso QCS and DCS systems.
The 2.7-meter-wide PM 1 tissue machine is designed for a speed of 1,600 m/min and the line for a daily production of 75 tons of tissue.
The tissue industry in Syktyvkar, since 2005 operated by Syktyvkar Tissue Group, has been present in the paper and tissue business for more than 20 years and is today one of the best known companies on the Russian market for tissue products. The company employs more than 420 people, and annually produces approximately 40 000 tons of tissue.
BASF on track with integration of Cognis
BASF today announced its integration plans for Cognis. BASF expects to achieve an additional EBIT of €275 million (10.6% of Cognis’ 2009 net sales) through the integration. This consists of growth synergy targets to generate an additional EBIT of €135 million by 2015 and cost synergies of around €140 million which will be achieved by the end of 2013.
To achieve the growth targets 230 additional jobs will be created worldwide, mainly in the Care Chemicals division. At the same time, BASF plans to reduce 680 positions due to overlaps in functional and administrative units as well as measures to improve efficiency. This means an overall reduction of 450 positions in the BASF Group, most of which will be realized by the end of 2012. The employees will be offered a suitable position within BASF whenever possible.
By the end of 2013, BASF expects one-time integration costs of around €290 million, excluding an inventory step-up of €120 million in 2010/2011. The integration will already be accretive as of 2012, less than two years after the acquisition.
“We see great potential for profitable growth in our Performance Products segment,” said Dr. John Feldmann, member of BASF’s Board of Executive Directors, responsible for BASF’s Performance Products segment and the Cognis integration. “Through the acquisition, we have strengthened our activities in attractive growing markets such as personal and home care, nutrition and health, coating additives synlubes and mining chemicals. The businesses complement each other excellently and allow us to offer our customers a comprehensive portfolio of products and solutions from both renewable and petro-based chemistry.”
“Over the past months, the joint integration teams have identified growth areas and defined cost synergies and worked out the plans to successfully integrate Cognis into the BASF Group,” said Michael Heinz, BASF’s Global Integration Manager for Cognis. “We will now work on implementing these measures to create additional value for our customers and for our company. We aim to complete the major parts of the structural integration by the end of 2011.”
Growth synergies of €135 million
The growth measures aim to generate an additional EBIT of around €135 million by 2015. They include leveraging the extended customer base, the extended solution capabilities and innovation capabilities as well as the regional setup of the combined business.
Cost synergies of €140 million
The cost synergies of around €140 million (5.4% of Cognis' 2009 net sales) will be achieved by the end of 2013. Main drivers are the combination of procurement activities, the consolidation of administrative structures, the improvement of production efficiency as well as the consolidation of the IT landscape.
Future site footprint and concept for Düsseldorf area
BASF plans to maintain 26 of the 28 Cognis production sites. Hythe, UK, will be sold. For Tromsoe, Norway, future strategic options will be evaluated. Of Cognis’ 37 non-production sites, 26 will be consolidated with existing BASF sites or exited, nine will remain and two are still under review.
BASF’s European Regional Business Unit (RBU) Personal Care will be located at Cognis’ former company headquarters in Monheim, Germany. The Düsseldorf-Holthausen production site, which was Cognis’ largest site, will be one of the Care Chemicals division’s key sites within its global production network, the center for global development in Personal Care and an important platform focusing on renewable-based ingredients as part of BASF’s corporate research.
“We will continue to focus on our customers’ needs and put the highest priority on ensuring that there are no business disruptions of any kind during the integration process,” said Feldmann. “In order to maintain high customer satisfaction in the course of the process and system changes within the integration we have already started to implement various measures in close cooperation with our customers.”
BASF announced its plans to acquire Cognis in June 2010 and completed the acquisition in December 2010. The equity purchase price was €700 million. Including net financial debt and pension obligations, the enterprise value of the transaction was €3.1 billion.
Visit BTG at SPCI 2011 to see how we can help improve your bottom line!
BTG, present throughout the papermaking process, is committed to helping clients achieve significant, sustainable gains in business performance, accomplished through world-class people, market-leading technologies, industry expertise and a passion for results.
Visit our booth at SPCI go get to know how BTG can assist in reaching your goals:
Reduced fiber costs, reduced consumable costs, improved tissue machine uptime and converting plant yield: all of these are possible through the application of the industry's most widely used particle charge detector, zeta potential measurement and our highly efficient equipment for the evaluation of retention aids.
Improved productivity and large savings thanks to MSP optimization - the effect of spare parts lifetime on total cost - with high-performance coating and size press rods.
Web breaks, edge build-up, flying sheet: to significantly reduce these production constraints we introduce our fines management concept based on new generation optical consistency transmitters for fiber, ash and fines.
Bulk improvement, improved fiber yield, enhanced softness and consistent quality: a reality thanks to our range of high-performance creping doctors and our unique creping blade holder, which allows for independent adjustment of linear load and creping pocket angle - while running!
In fine paper, 30% fewer intermittent scratches and lines, meaning leass scrap and better runnability and resulting in a monthly 100-ton reduction in waste through the use of high-performance coating blades.
At this year's SPCI, BTG will also be presenting our new integrated coating capability concept for overall coating optimization and reduced operating costs - as well as a new companion and that you would regret not having met... Don't miss out - visit us on booth A09:28
BASF Chongqing MDI project approved
BASF, the world’s leading chemical company, has received approval for a 400,000 metric tons per year MDI (diphenylmethane diisocyanate) project in Chongqing, China. 
The investment will total RMB 8 billion (approximately €860 million). The facility, which will produce a core component mainly used for polyurethane foams, is expected to start up by 2014.
The project was approved by Chinese authorities, following a stringent examination of environmental, health and safety standards, two rounds of local public consultation and several expert reviews. This state-of-the-art facility will consist of an MDI plant, a nitrobenzene plant and an aniline plant, and will cover 40 hectares. It will form the center of an integrated chemical production complex operated by the Chongqing (Changshou) Chemical Industry Park.
Dr. Martin Brudermüller, member of the Board of Executive Directors of BASF SE, responsible for Asia Pacific, said, “Chongqing is at the center of a growing inland region. Investing here will give us access to what will be one of the biggest MDI markets in the world. We are applying world-class safety and environmental standards in the construction and operation of our facility, and at the same time we will produce products that have a direct impact on increasing energy efficiency and lowering carbon emissions. Our investment is a pioneering step into western China. With this investment we are supporting the Chinese Government with their plans for rapid and sustainable development in western China.”
At the facility, BASF will produce MDI, a core component for versatile polyurethane (PU) products. Polyurethane is used extensively for cold as well as heat insulation applications and is the preferred material for keeping food and medications cold during production, distribution and storage. With its unique insulation properties, PU is used in the majority of refrigerators and freezers, for the insulation of hot water tanks, and for district heating or cooling pipeline insulation. In China, BASF has been producing MDI in Caojing, Shanghai since 2006. The company also has production of MDI in Antwerp, Belgium; Yeosu, Korea; and Geismar, Louisiana.
In addition to the production complex for MDI, BASF is also establishing a new Polyurethane Solutions System House in Chongqing to meet the demand of the growing markets in important industries like construction, appliances, transportation and footwear. The planned System House will have local production with sales, technical service and development personnel to provide fast and competent support to its customers.
“With these steps, BASF is the first global PU player to show a strong commitment to this important and fast growing region of China,” said Wayne T. Smith, President of BASF’s Polyurethanes division. “Our Polyurethanes Solutions System House will be fully integrated into the new MDI plant which is a significant advantage for our customers. In addition, they will benefit from the know-how and experience of BASF’s PU specialists worldwide.”
Local employment
BASF estimates that there will be at least 300 permanent jobs created through the BASF facility alone when the plant is operating in full swing. At start-up, a total of 17 plants and businesses in the chemical park will immediately begin operation as key partners or suppliers, forming the nexus of a new industry manufacturing cluster serving multiple, labor-intensive industries.
Focus on safety and environmental protection
Key safety and environmental protection features of the proposed project include full integration into a chemical park and optimized processes to bring very high efficiency and minimal emissions. The complex is an example of BASF’s integrated production concept known as “Verbund” in which waste streams are recycled and used as feedstock for chemical production to maximize efficiency and minimize environmental impact.
BASF has introduced a “five levels of safety for isocyanate production” system based on advanced solutions stemming from decades of experience worldwide to meet strictest local and BASF global environmental and safety standards. BASF works closely with the chemical park to guarantee very high standards for the facilities and management of environmental protection in the area.
Additionally, BASF will implement a “three levels of water protection” system. These processes include water protection measures from other sites BASF has operated for many years near sensitive watercourses such as the Rhine River in Ludwigshafen, Germany, the Schelde River in Antwerp, Belgium (located near the coastline of the North Sea) and the Mississippi River near Geismar, Louisiana.
Innovation and Competitiveness from Nanocellulose
In three years, the Finnish Centre for Nanocellulosic Technologies has become a global leader through its research.
The Finnish Centre for Nanocellulosic Technologies, founded by VTT, the Aalto University and UPM, began operations on 1 March 2008 in Otaniemi, Espoo. The goal of the centre is to develop an industrial-scale production process for nanocellulose and to develop new uses for cellulose as a material.
The centre is a consortium of three equal partners, and is funded by both public and private investments.
Cellulose fibres are 30 micrometres wide and 2 to 3 millimetres long. They are formed of nanofibrils, the dimensions of which are about a thousandth of the dimensions of cellulose fibres. By mixing nanocellulose with various other materials, it is possible to manufacture new, light and strong compound materials which can be utilised in many industrial and consumer applications.
Large investments in research
It is the goal of the Finnish Centre for Nanocellulosic Technologies to utilise the exceptional properties of nanocellulose in improving the competitiveness of existing products and developing entirely new kinds of products. The centre is able to produce different kinds of nanocellulose in a controlled manner on a laboratory scale. A comprehensive set of measurement technologies has also been developed for the characterisation of the materials produced, for example the characterisation of quality, evenness and particle size.
Some 40 researchers are involved in the operations of the Finnish Centre for Nanocellulosic Technologies. According to Pia Qvintus, Technology Manager at VTT, investments are many times larger than conventional research projects.
“Because we have as many as 40 person-years available to us, with top-grade expertise, the Centre’s research has quickly reached global standards.”
Widely applicable technology
Nanocellulose can be utilised widely in different industrial fields and products. Its applications include specialty papers, paper coatings, packaging and building products. The construction, vehicle, furniture, electronics, food, pharmaceutical and cosmetics industries can also create added value for their products by using customised fibre materials.
One example of the effectiveness of nanocellulose is the innovation developed by the Finnish Centre for Nanocellulosic Technologies in which nanotechnology is used to improve the durability of a coat of paint. The Finnish Centre for Nanocellulosic Technologies has researched the utilisation of nanocellulose as an additive in water-based polyurethane varnishes and paints. According to this research, nanocellulose improved the durability of the coat of paint, and protected paint and varnish from attrition caused by UV radiation.
Nanocellulose is also believed to have great potential in filter and membrane applications used in water and air purification. Nanocellulose can also be used to improve the strength and durability characteristics of current bio-plastics.
Utilisation of new technologies is one possibility of improving the competitiveness of the forest industry in a changing operating environment. By combining basic research, applied research, productization and business competence, the partners aim to speed up the launch of new profitable products on the global market in the near future.
Clearwater Paper Selects Tissue Machine
Clearwater Paper Corporation has announced it has selected Metso Corporation of Helsinki, Finland, to manufacture its new Through-Air-Dried (TAD) tissue machine to be located at the company's previously announced Shelby, North Carolina, tissue converting and distribution facility.
"We chose an industry staple, a proven supplier, a machine used by many tissue companies around the world," said Brian Hoaglund, expansion project leader for Clearwater Paper. "Our team looked at all of the leading suppliers, but in the end we were most comfortable with Metso, due to their excellent engineering and quality end-product as well as top notch customer service."
In June 2010, Clearwater Paper announced it would build the new through-air-dried (TAD) tissue machine and converting facility at Shelby, North Carolina. The new production and distribution capabilities of the facility will increase the company's ultra and premium offerings to existing Southern and East Coast customers and create new opportunities to expand the company's private label consumer tissue business to other retail grocery chains in the region.
Construction of the first phase — converting and warehouse areas of the facility — is on schedule and the company expects to begin converting production at the facility in the second half of 2011. The new Metso paper machine is expected to begin production during the second half of 2012.
The company believes that TAD technology is the most efficient and effective way to provide softness, strength, convenience and absorption in tissue products. Metso's machine will comprise a complete tissue production line with stock preparation equipment and an Advantage ThruAir 200 TAD tissue machine including an OptiFlo II TIS multi-layer headbox, Thru-Air dryers and air system, and an Advantage WetDust dust management system. The production line will also feature Metso's patented Advantage SoftReel-B belted reel technology. The production line will be optimized to produce ultra TAD quality tissue and towel products at high speed and efficiency.
Mondi hits digi:media and Media Mundo with new digital and sustainable products
Over the last years, Mondi has positioned itself increasingly as an industry leader in digital printing and sustainable products and initiatives. According to Johannes Klumpp, Marketing and Sales Director for Mondi Uncoated Fine Paper, this has been a foreseeable market trend in the paper industry that Mondi has taken great care to cultivate. The result has been the ongoing development of new uncoated fine papers in Mondi’s Green Range and digital printing portfolios, the latest being Color Copy indigo and DNS® indigo. These latest HP 3-star certified papers will be among the highlights at Mondi’s booth at digi:media. Mondi will also preview DNS® high-speed inkjet — a new paper for the latest generation of inkjet printing presses, scheduled to arrive on the market this spring.
The digi:media trade fair and Media Mundo congress are parallel events held at the Düsseldorf Trade Fair Center. The motto of this year’s digi:media is “Content meets Technology meets Business”, offering the perfect setting to showcase Mondi’s digital printing range, which includes Color Copy, BIO TOP 3®, DNS® and NAUTILUS®.
“It is important that customers recognisethat premium digital paper production and sustainable production are not mutually exclusive processes. All of our digital printing papers also belong to our Green Range. Color Copy, for example, is a premium digital paper, CO2 Neutral and EU Ecolabel certified,” explains Mr.Klumpp. “And BIO TOP® 3 digiprint is well regarded in the digital print publishing industry not only for its texture and shade, but also for its environmental accreditations and TCF certification.”
To address the needs of the eco publishers and printers present at digi:media, Mondi will also underscore the benefits of NAUTILUS® Universal and NAUTILUS® SuperWhite. Both of these 100% recycled papers offer
a complete professional range of grammages and formats for the print and publishing industry. Moreover, NAUTILUS® Universal is Blue Angel certified and NAUTILUS® SuperWhite is also offered with a CO2 Neutral option.
At the Media Mundo congress (April 7th & 8th), Andreas Feichtinger, Mondi Uncoated Fine Paper Business Development Manager for Green and Recycled Products, will be among the list of guest speakers, which includes journalists, sustainability consultants and industry experts. On April 8th Mr. Feichtinger will present his topic, “Eco-friendly production: an example of Mondi’s holistic approach”, which addresses current environmental problems within the context of company responsibility. Looking specifically at Mondi-led initiatives, Mr. Feichtinger will outline the company’s overall environmental performance and further explain Mondi’s CO2 footprint project, facts about CO2 neutral paper and the significance of environmental labels and certifications.
All of Mondi’s Green Range papers are FSC® certified, bleached without chlorine (TCF), or 100% recycled. This extensive digital range consists of numerous brands and sub-brands tailored for specific digital applications. Please visit www.mondigroup.com/digital for more information on Mondi’s digital printing range and www.mondigourp.com/greenrangefor more information on Mondi’s Green Range and environmental initiatives.
Gardner Denver, Inc. Announces Redemption of Its 8% Senior Subordinated Notes Due 2013
Gardner Denver, Inc. (NYSE: GDI) announced today that it has issued a notice to redeem all $125,000,000 in aggregate principal amount of its outstanding 8% Senior Subordinated Notes due 2013 (the "Notes"). The Notes will be redeemed on May 2, 2011 at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the date of redemption. Gardner Denver, Inc. plans to finance the redemption using available cash and borrowings under its revolving credit facility. A Notice of Redemption, which more fully describes the terms and conditions of redemption or conversion, is being sent to all registered holders of the Notes. Questions relating to, and requests for copies of, the Notice of Redemption should be directed to The Bank of New York Mellon Trust Company, N.A., the trustee and paying agent with respect to the Notes, at 111 Sanders Creek Parkway, East Syracuse, New York 13057, Attn: Debt Processing Group, or by phone at 001 (800) 254-2826. Gardner Denver, Inc., with 2010 revenues of approximately $1.9 billion, is a leading worldwide manufacturer of highly engineered products, including compressors, liquid ring pumps and blowers for various industrial, medical, environmental, transportation and process applications, pumps used in the petroleum and industrial market segments and other fluid transfer equipment, such as loading arms and dry break couplers, serving chemical, petroleum and food industries. Gardner Denver's news releases are available by visiting the Investors section on the Company's website (www.GardnerDenver.com). Cautionary Statement Regarding Forward-Looking Statements All of the statements in this release, other than historical facts, are forward-looking statements made in reliance upon the safe harbor of the Private Securities Litigation Reform Act of 1995. As a general matter, forward-looking statements are those focused upon anticipated events or trends, expectations, and beliefs relating to matters that are not historical in nature. Such forward-looking statements are subject to uncertainties and factors relating to the Company's operations and business environment, all of which are difficult to predict and many of which are beyond the control of the Company. The actual future performance of the Company could differ materially from such statements. Risks that could cause results to differ materially from those matters expressed in or implied by such forward-looking statements are set forth under "Risk Factors" in the Company's Form 10-K for the fiscal year ended December 31, 2010. The Company does not undertake, and hereby disclaims, any duty to update these forward-looking statements, although its situation and circumstances may change in the future.
SOURCE: Gardner Denver, Inc.