Enpro Industries

Last updated

Enpro Industries, Inc.
Company typePublic
NYSE:  NPO
S&P 600 Component
Industry Industrial Technology
Predecessor Goodrich Corporation
Coltec Industries
Founded2002
Headquarters Charlotte, North Carolina, United States
Area served
Worldwide
Key people
Eric Vaillancourt (Interim President and Chief Executive Officer) [1]
Number of employees
4400
Website www.enproindustries.com

Enpro is a US-based industrial technology company that designs and manufactures products and materials for technology-intensive sectors. The company serves industries such as semiconductors, aerospace, power generation, heavy-duty trucking, agricultural machinery, chemical processing, pulp and paper, and life sciences from 61 primary manufacturing facilities located in 12 countries, worldwide. [2] It is organized under three segments: Sealing Technologies, Advanced Surface Technologies, and Engineered Materials.

Contents

History

On May 31, 2002, Goodrich Corporation (which later became part of UTC Aerospace Systems, which in turn was then folded into the Collins Aerospace subsidiary of Raytheon Technologies) spun off its Engineered Industrial Products business segment into a new company, named Enpro Industries, Incorporated. The spinoff consisted of businesses that were originally owned by Coltec Industries, which had been purchased by Goodrich in 1998. [3] The businesses included in the spinoff were: Garlock Sealing Technologies, GGB, STEMCO, Fairbanks Morse Engine (which was sold in Q4-2019) and Quincy Compressor [4] [5] (which was sold to Atlas Copco in 2010). [6] Asbestos liability was limited by complicated tax manipulation, of which Joseph Andolino was one of the architects.[ citation needed ]

Acquisitions

Since the formation of Enpro, the company has acquired a number of companies that are focused on engineered industrial products:

Sortable table
Company or Asset AcquiredHeadquartersDateEnPro Business UnitProductsRef.
Pikotek Inc. Lakewood, Colorado, United States2003Garlock Family of Companies (GPT)Very Critical Service(VCS) Flange Insulation Gasket (application for high pressure, highly corrosive environments) [7]
Compressor Products International Stafford, Texas, United States2007Compressor Products International Compressor components and lubrication systems [8]
Technetics Corp Columbia, South Carolina, United States2009Technetics GroupMetallic seals, metal bellows, plastomer and polytetrafluoroethylene (PTFE) seals and components, elastomeric seals [9]
Hydrodyne Burbank, California, United States2010Technetics GroupMetallic seals and components for nuclear and aerospace applications [10]
Premier Lubrication Systems Houston, Texas, United States2010Compressor Products InternationalComponents, technical products and service for reciprocating compressors [11]
Progressive EquipmentHouston, Texas, United States2010Compressor Products InternationalComponents, technical products and service for reciprocating compressors [11]
CC Technology Midland, Texas, United States2010Compressor Products InternationalLubrication systems and components for reciprocating compressors [11]
Tara Technologies Daytona Beach, Florida, United States2011Technetics GroupEngineered products for the semiconductor, aerospace, energy and medical industries [12]
Rome Tool and Die Rome, Georgia, United States2011STEMCOSteel brake shoes [13]
Pipeline Seal and Insulator (PSI)Houston, Texas, United States2011Garlock family of companies (GPT)Pipeline sealing products [14]
Motorwheel Commercial Vehicle Systems Livonia, Michigan, United States2012STEMCOBraking system hubs, drums and rotors [15]
Fabrico, Inc Oxford, Massachusetts, United States2014Technetics GroupLand-based Turbines [16]
Rubber Fab Gasket & Molding, Inc Sparta, New Jersey, United States2016Garlock Family of Companies (GHT)Sanitary Gaskets and High-Purity Hose Assemblies [17]
Qualiseal Technology Harwood Heights, Illinois, United States2017Techetics GroupSealing Products segment [18]
The Aseptic Group (comprising Aseptic Process Equipment SAS and Aseptic Services SARL) Limonest, France2019Garlock Family of Companies (GHT)Single-use components and tubing assemblies for the biopharmaceutical market [19]
LeanTeq Co., Ltd Taoyuan City, Taiwan2019Technetics GroupSealing Products segment [20]

Lawsuits

In June 2010, Garlock Sealing Technologies, a subsidiary of Enpro, filed for Chapter 11 bankruptcy, due to mounting liabilities from personal injury lawsuits related to asbestos-lined gaskets that it manufactured. [21] [22]

In March 2016, Enpro agreed to assume responsibility for all current and future asbestos claims related to Garlock Sealing Technologies and Garlock's parent company Coltec Industries, and set up a $480 million trust to resolve asbestos-related legal claims in the United States, as well as setting aside $17 million to cover asbestos claims in Canada. [23]

In April 2017, Mississippi Attorney General Jim Hood filed a lawsuit against Enpro, Goodrich Corporation, and OldCo LLC, alleging that the companies polluted the environment and contaminated the ground water near a former Colt Industries (later Coltec Industries) carburetor manufacturing plant in Water Valley, Mississippi, by dumping and burying hazardous waste that contained trichloroethylene, a known carcinogen, on or near the plant site. [24] The lawsuit was settled in 2020. [25]

In June 2024, eight former employees of the same carburetor manufacturing plant in Water Valley, Mississippi, filed a federal negligence suit against Enpro, which currently owns the plant, alleging that their former employer exposed them to trichloroethylene, by releasing the carcinogenic chemical into the air, groundwater, and soil near the plant over five decades, leaving them with long-term symptoms including cancer and Parkinson’s disease. [25] [26] [27]

Business units

EnPro Industries’ businesses are organized into the following operating units:

CPI

Compressor Products International (CPI) designs, manufactures and markets components for large reciprocating compressors used in chemical plants, refineries and natural gas processing and transportation facilities. [28]

Garlock

The Garlock family of companies comprises three businesses: Garlock Sealing Technologies, GPT, and Garlock Hygienic Technologies, which includes Rubber Fab and The Aseptic Group. Garlock serves a diverse range of industries including pharmaceutical, food and beverage, pulp and paper, metals and mining, marine, water / waste water, chemical processing, oil and gas, and power generation markets. [28]

GGB

GGB is the Tribological Solution Provider for Industrial Progress, regardless of Shape or Material, serving the industrial, automotive, aerospace, renewable energy, and dozens of other industries. [28]

STEMCO

STEMCO manufactures and supplies components to the heavy-duty truck and trailer markets in North America. [28]

Technetics Group

Technetics Group provides engineered components, seals, assemblies and sub-systems for applications in the semiconductor, aerospace, power generation, medical, oil and gas, and other industries. [28]

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References

  1. ↑ "Enpro Announces Leadership Transition".
  2. ↑ "Investor Relations - Corporate Profile". EnPro Industries. Archived from the original on June 16, 2013. Retrieved April 26, 2013.
  3. ↑ "B.F. Goodrich buys Coltec". CNN Money. Retrieved April 26, 2013.
  4. ↑ "EnPro Industries, Inc., Form 10-K, Annual Report, Filing Date February 27, 2013". secdatabase.com. Retrieved April 26, 2013.
  5. ↑ "Goodrich Readying June 1 Spinoff of Bearing Division". eBearing News. Archived from the original on June 17, 2002. Retrieved April 26, 2013.
  6. ↑ "EnPro completes sale of Quincy Compressor". Charlotte Business News. Retrieved April 26, 2013.
  7. ↑ "EnPro buys Colorado manufacturer". Charlotte Business Journal. Retrieved November 3, 2013.
  8. ↑ "EnPro Buys Compressor Products International". Modern Distribution Management. Retrieved April 26, 2013.
  9. ↑ "EnPro Industries acquires Technetics". Charlotte Business Journal. Retrieved April 26, 2013.
  10. ↑ "EnPro Industries buys Hydrodyne". Charlotte Business Journal. Retrieved April 26, 2013.
  11. 1 2 3 "EnPro Acquires Manufacturers of Lubrication Systems for Compressors". Machinery Lubrication. Archived from the original on May 8, 2013. Retrieved April 26, 2013.
  12. ↑ "EnPro Industries acquires Tara Technologies". Yahoo! Finance. Retrieved April 26, 2013.
  13. ↑ "EnPro Industries Acquires Rome Tool and die". American Machinist. Retrieved April 26, 2013.
  14. ↑ "EnPro Industries acquires Pipeline Seal and Insulator". Industrial Supply. Retrieved April 26, 2013.
  15. ↑ "EnPro Industries Acquires Motorwheel Commercial Vehicle Systems". Reuters. Archived from the original on October 29, 2013. Retrieved April 26, 2013.
  16. ↑ "EnPro Industries Announces Acquisition of Fabrico, Inc". Business Wire. Archived from the original on April 16, 2015. Retrieved December 22, 2014.
  17. ↑ "EnPro Industries Announces Acquisition Of Rubber Fab Gasket & Molding, Inc". Business Wire. Archived from the original on April 26, 2016. Retrieved April 25, 2016.
  18. ↑ "EnPro Industries Announces Acquisition of Qualiseal". Business Wire. June 2017. Retrieved June 1, 2017.
  19. ↑ "EnPro Industries Announces Acquisition of The Aseptic Group". Business Wire. July 2, 2019. Retrieved July 2, 2019.
  20. ↑ "EnPro Industries to Acquire LeanTeq Co., Ltd". Business Wire. July 22, 2019. Retrieved July 22, 2019.
  21. ↑ Dye, Jessica (July 24, 2014). "U.S. judge strikes sealing order over Garlock asbestos liability". Reuters . Retrieved June 9, 2024.
  22. ↑ Dye, Jessica (January 14, 2015). "Garlock offers revised bankruptcy deal for asbestos claims". Reuters . Retrieved June 9, 2024.
  23. ↑ "EnPro, Garlock reach $480 million settlement on asbestos claims". Reuters . March 17, 2016. Archived from the original on December 1, 2017. Retrieved June 9, 2024.
  24. ↑ Howell, David (April 12, 2017). "AG Sues Over TCE Contamination". The North Mississippi Herald. Archived from the original on June 5, 2024. Retrieved June 9, 2024.
  25. 1 2 Rozier, Alex (June 5, 2024). "Ex-employees sue Water Valley facility over TCE pollution". Mississippi Today . Archived from the original on June 5, 2024. Retrieved June 9, 2024.
  26. ↑ Beveridge, Lici (June 6, 2024). "Former employees sue former Water Valley MS manufacturer, claim chemicals caused cancer". MSN . The Clarion-Ledger. Archived from the original on June 9, 2024. Retrieved June 9, 2024.
  27. ↑ Hrach, Mandy (June 4, 2024). "Mississippi auto plant illegally dumped cancer-causing chemical, lawsuit says". FOX13 Memphis . Archived from the original on June 4, 2024. Retrieved June 9, 2024.
  28. 1 2 3 4 5 "EnPro Industries Inc". Reuters. Retrieved April 26, 2013.
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