Hemiwedge cartridge valve growth

Hemiwedge Industries in Texas, under their old name of Shumate Industries, effectively completed the development of their patented range of Hemiwedge cartridge valves during 2008. R&D, scale-up and operational expenses in setting up production meant the valve company did not generate a profit during 2007. The next 12 months were devoted to a strong marketing campaign for the Hemiwedge cartridge valve, and in February 2009 the company name was changed to Hemiwedge Industries, reflecting their commitment to the product line. Unlike ball valves, the stationary core of the cartridge valve directs flow away from the seat surfaces, which promotes a longer service life. The cartridge feature reduces expensive downtime during valve maintenance as all of the internal parts of the valve are attached to the bonnet, as a cartridge: this allows a quick on-site exchange of all the internals of the valve while the valve body remains in the line. The Hemiwedge cartridge valve, available from one inch to twenty inches and ANSI class 150 through 900, is quoted to have been used in applications including refining, mining, process, pipeline, power, mid-stream and petro-chemical markets.

The marketing campaigns stopped in early 2009, and from the latest company financial report the valve markets hit a low in 2009, but Hemiwedge has seen good results for the first half of 2010. Many of the company’s current orders represent maintenance purchases and replacement of legacy ball valves products.¬† Marketplace acceptance of the cartridge valve product line continues to be confirmed, particularly in severe service applications, with a global refinery company representing a significant recent new customer win. Revenues for the six months ending 30th June were $1.61 million, an increase of 352%, compared to the previous year. Sales in the second quarter were up 164% on the equivalent period in 2009, at $575,000, which means for 2010 they were actually significantly below the bumper first quarter. Hemiwedge forecasts significant revenue growth for the rest of 2010, and beyond.

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