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Profile: CIRCOR International Inc (CIR.N)

CIR.N on New York Stock Exchange

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CIRCOR International, Inc. (CIRCOR), incorporated on July 1, 1999, designs, manufactures and markets engineered products and sub-systems, which are used in the oil and gas, power generation, aerospace, defense and other industrial markets. The Company operates through two segments: CIRCOR Energy (Energy), and CIRCOR Aerospace & Defense (Aerospace & Defense). The Company manages a portfolio of flow control and actuation products, sub-systems and technologies. It operates approximately 20 manufacturing facilities that are located in the United States, Western Europe, Morocco, India and the People's Republic of China. The Company sells its products through approximately 700 distributors or representatives and directly to end use customers.

Energy

The Company's Energy segment provides engineered integrated flow control solutions, valves and services in the oil and gas, and power generation industries. Its Energy segment offers products in the service sector, which includes applications, such as process control, oil sands, pressure control, cryogenic, steam power generation systems and process systems. Its Energy segment has manufacturing facilities in Oklahoma, Florida, South Carolina, New York, China, Canada, the United Kingdom, Italy, India, Brazil, Germany and the Netherlands. Markets served include oil and gas: upstream (on-shore and off-shore), mid-stream and downstream applications, as well as power generation, including steam/process applications in both commercial and industrial markets. The upstream and mid-stream markets are served by the Company's international project and North American short cycle businesses, and downstream markets are served by its instrumentation and sampling businesses.

The Company's upstream oil and gas markets include all the equipment between the outlet on the wellhead to the mainline transmission pipeline and it also incorporates the activities associated with the installation of this equipment. The mid-stream oil and gas market begins at the mainline transmission pipeline and extends to the fence around the refinery or petrochemical plant. It includes all the ancillary equipment, such as oil field heaters that warm crude oil and are required to move the product through the gathering and pipeline systems to the processing plants, as well as the gas processing plants that prepare and purify raw natural gas for entry into the pipeline systems and liquid natural gas (LNG) processes.

The Company's downstream oil and gas market includes the refining, distillation, stripping, degassing, dehydrating, desulferizing and purifying of the crude oil to its constituent components, as well as the conversion of natural gas to methane. The power generation market consists of electric utilities and industrial power producers. The Company's utilities generate, transmit and distribute electricity for sale in a local market, while industrial power plants generate electrical power for use within the industrial facility, such as a power plant within a steel mill or within a desalination plant. Its utilities and industrial power plants can be categorized by fuel or by design, such as cogeneration, combined cycle, coal gasification, super-critical, ultra-critical, nuclear and hydro-electric. Its products are deployed around the boiler, turbine and generator of a power plant.

The Energy segment provides its flow control solutions and services through various brands, including Circle Seal Controls, Contromatics, CPC Cryolab, Dopak Sampling, GO Regulators, Gyrolok, Hoke, Hydroseal, KF Valves, Leslie Controls, Laurence, Mallard Control, Pibiviesse, Nicholson Steam Trap, Pipeline Engineering, Rockwood Swendeman, RTK, Schroedahl, Spence Engineering and Texas Sampling. Its Energy segment offers a range of flow control solutions and services, including valves; instrumentation fittings and sampling systems, including sight glasses and gauge valves; liquid level controllers, liquid level switches, needle valves, pilot operated relief valves, plugs and probes pressure controllers, pressure regulators and safety relief valves, and pipeline pigs, quick opening closure and pig signalers. Its valves include severe service and general service control valves; engineered trunion and floating ball valves; gate, globe and check valves, and automatic re-circulation valves for pump protection. The Energy segment's products and services are sold to end user customers, such as oil companies, power generation, process industries and engineering, procurement and construction companies, through sales channels that include direct sales, sales representatives, distributors and agents.

The Company competes with Balon Corporation, Cameron International Corp., Curtiss-Wright Corporation, Flowserve Corporation, IMI plc, Pentair Ltd, PetrolValves S.R.L., SPX Flow, Inc., Swagelok Company, Emerson and Valvitalia S.p.A.

Aerospace & Defense

The Company's Aerospace & Defense segment focuses on areas of actuation systems and fluid control systems (electromechanical, pneumatic and hydraulic) and services. Aerospace & Defense sub-systems, components and products are used in various commercial and military aircraft, including single and twin-aisle air transport, business and regional jets, military transports and fighters, and commercial and military rotorcraft. Other markets include unmanned aircraft, shipboard applications, military ground vehicles and space. Its Aerospace & Defense segment facilities are located in California, New York, the United Kingdom, France and Morocco.

The Company's Aerospace & Defense segment markets and applications include commercial aerospace and defense. The commercial aerospace market it serves includes systems and components on airliners and business jets, such as hydraulic, pneumatic, fuel and ground support equipment, including maintenance, repair and overhaul (MRO). The defense market it serves includes military and naval applications where controls or motion switches are needed. It supports fixed wing aircraft, rotorcraft, missile systems, ground vehicles, submarines, weapon systems and weapon launch systems, ordinance, fire control, fuel systems, pneumatic controls, and hydraulic and dockside support equipment, including MRO.

CIRCOR's Aerospace & Defense segment provides control solutions and services for aerospace and defense applications through various brands, including CIRCOR Aerospace, Circle Seal Controls, Aerodyne Controls, CIRCOR Bodet, CIRCOR Industria and Hale Hamilton. The Company's Aerospace & Defense segment manufactures controls (electromechanical, pneumatic and hydraulic), and actuation components and sub-systems. This includes pneumatic control components and systems for the aerospace, defense, space and alternative fuels markets. Aerospace & Defense products and services are used by a range of customers, including those in the military and defense, commercial aerospace, and business and general aviation markets. Its customers include aircraft manufacturer's (OEM's) and Tier 1 suppliers to these manufacturers.

The Company competes with Crane Co., Cobham PLC, Eaton Corporation, GE Aviation, Heroux Devtek Inc., Lee Aerospace Inc., Magnaghi Aeronautica SpA, Marotta Controls, Inc., Maxon Corporation, Meggitt PLC and Triumph Group, Inc.

Company Address

CIRCOR International Inc

30 Corporate Dr Ste 200
BURLINGTON   MA   01803-4252
P: +1781.2701200
F: +1302.6365454

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