With operations around the globe, Pall is not small. The company operates two businesses globally: Life Sciences and Industrial. The Life Sciences business group is focused on developing, manufacturing, and selling products to customers in the Medical, BioPharmaceuticals and Food & Beverage markets. The Industrial business group is focused on developing, manufacturing and selling products to customers in the Process Technologies, Aerospace, and Microelectronics markets. In fiscal year 2012, the company reorganized its Industrial markets for greater efficiency. The Machinery and Equipment submarket and Energy and Water submarket were combined as the Process Technologies market.
The company has operations in Argentina, Australia, Austria, Belgium, Brazil, Canada, China, France, Germany, Hong Kong, Hungary, India, Indonesia, Ireland, Italy, Japan, Korea, Malaysia, New Zealand, Norway, the Philippines, Portugal, Russia, San Marino, Singapore, Sweden, Switzerland, Taiwan, Thailand, the UK, the US, and Vietnam.
Pall's total revenues increased by 6.1% in fiscal year 2012 thanks largely to a 7.3% increase in Total Life Sciences segment revenues due to the 12% increase in sales in the BioPharmaceuticals market, and a 0.3% rise in sales in the Food & Beverage market, where as sales in Medical market decreased 1.3% compared to fiscal year 2011.
Industrial segment sales increased by 7% reflecting growth in the Process Technologies and Aerospace markets, partly offset by a decline in the Microelectronics market. Process Technologies market reveneus grew by 9%, and Aerospace market sales by 12%. However, Microelectronics sales decreased by 4% due to a decline in semiconductor chip production.
Pall's net income grew by 1.2% thanks to higher revenues. Net earnings from continuing operations and net earnings from discontinued operations increased as foreign currency translation had a positive impact on earnings per share in FY 2012.
Pall's strategic plan calls for a focus on geographic expansion in high growth regions (Asia, Eastern Europe, the Middle East, Africa and Latin America) and on beefing up (through acquisitions and organic growth) its position in high-growth markets such as biotechnology, diagnostics, cell therapy, vaccine production, micro and macroelectronics, next-generation aircraft, energy and water.
Strengthening its expertise in the fluid management systems market in Latin America, in 2011 Pall acquired Engefiltro, its long-time Brazilian distribution partner. Engefiltro, primarily known for its filtration systems engineering capabilities, also has interests in the mining, oil and gas, chemical and petrochemical, power generation, food processing, and pharmaceutical industries.
Pall continued its shopping in late 2011 by acquiring California-based ForteBio, which develops analytical systems to speed up discovery and development of biotech drugs. Pall hopes that the technology platforms added with the acquisition will help its biopharmaceutical customers in getting their products to market on time.
To pay down debt, in 2012 the company sold its blood collection, filtration, and processing product lines to Massachusetts-based Haemonetics, a global healthcare company. Pall will also divest some blood media manufacturing assets to Haemonetics by 2016. – less