Environmental Systems Corporation (ESC), the leading Continuous Emissions Monitoring System (CEMS) Data Acquisition Systems (DAS) software provider, announced today that it has acquired Spectrum Systems, Inc. (SSI), headquartered in Pensacola, Florida.
ESC supports industrial and utility plants with air emissions compliance requirements. Spectrum Systems is a full-service CEMS provider that delivers high-quality CEMS integration, maintenance, repairs, training, stack testing, and DAS software to industrial and utility customers.
Jeff Rabensteine, president of ESC, said, “We are pleased to be able to combine the strengths of both companies in an industry challenged with a host of complex federal and state air emissions regulations. Spectrum has a great reputation as a CEMS services company and we expect to leverage that position as we look to grow the combined company. We think this is a great fit for both companies.”
“We built our company on the quality of the services we offer to our customers and that’s what separates us from our competition,” said Reggie Davis, president of Spectrum Systems. “We are excited to be combining forces with ESC as we work to expand our product and services footprint.”
ESC and Spectrum will continue to offer each company’s existing products and services. They will continue to operate their respective office locations in both Austin, TX and Pensacola, FL, and all contact information for the companies will remain the same.
ESC and Spectrum look forward to the opportunity to evolve, grow, and learn from each other’s strengths and expertise. They share the same values of excellent customer service, team work, industry knowledge, and solving complex problems. Their joint mission will be to help customers succeed in the job of meeting their company’s compliance obligations.
Tech demand drives Asia’s factory revival, China’s slowdown puts dampener
By Leika Kihara
TOKYO (Reuters) – Solid demand for technology goods drove extended growth in Asia’s factories in February, but a slowdown in China underscored the challenges facing the region as it seeks a sustainable recovery from the shattering COVID-19 pandemic blow.
The vaccine rollouts globally and pick-up in demand provided optimism for a vast number of businesses that had grappled for months with a cash-flow crunch and falling profits.
In Japan, manufacturing activity expanded at the fastest pace in over two years while South Korea’s exports rose for a fourth straight month in February, suggesting the region’s export-reliant economies were benefiting from robust global trade.
On the flip side, China’s factory activity grew at the slowest pace in nine months in February, hit by a domestic flare-up of COVID-19 and soft demand from countries under renewed lock-down measures.
“The big picture, supported by the latest figures, is that China’s growth remains fairly robust, but it is slowing from previously very rapid rates,” Mark Williams, chief Asia economist at Capital Economics, wrote in a note to clients.
China’s was the first major economy to lead the recovery from the COVID-19 shock, so any signs of prolonged cooling in Asia’s engine of growth will likely be a cause for concern.
With the global rebound still in early days, however, analysts say the outlook was brightening as companies increased output to restock inventory on hopes vaccine rollouts will normalise economic activity.
“The recovery in durable-goods demand is continuing, which is creating a positive cycle for manufacturers in Asia,” said Shigeto Nagai, head of Japan economics as Oxford Economics.
“As vaccine rollouts ease uncertainties over the outlook, capital expenditure will gradually pick up. That will benefit Japan, which is strong in exports of capital goods,” he said.
China’s Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) fell to 50.9 in February, the lowest level since last May but still above the 50-mark that separates growth from contraction.
That was in line with official manufacturing PMI that showed factory activity in the world’s second-largest economy expanded in February at the weakest pace since May last year.
Activity in other Asian giants remained brisk.
The final au Jibun Bank Japan Manufacturing Purchasing Managers’ Index (PMI) jumped to 51.4 in February from the prior month’s 49.8 reading, marking the fastest expansion since December 2018, data showed on Monday.
In South Korea, a regional exports bellwether, shipments jumped 9.5% in February from a year earlier for its fourth straight month of increase on continued growth in memory chip and car sales.
The Philippines, Indonesia and Vietnam also saw manufacturing activity expand in February, a sign the region was gradually recovering from the initial hit of the pandemic. (This story corrects to add name of institution linked to analyst comment in paragraph 5)
(Reporting by Leika Kihara; Editing by Shri Navaratnam)
China’s factory activity growth slips to nine-month low – Caixin PMI
BEIJING (Reuters) – China’s factory activity expanded at the slowest pace in nine months in February as weak overseas demand and coronavirus flare-ups weighed on output, adding pressure on the country’s labour market, a business survey showed on Monday.
The slowdown in the manufacturing sector underscores the fragility of the ongoing economic recovery in China, although domestic COVID-19 cases have since been stamped out and analysts expect a strong rebound in full-year growth.
The results back an official survey released over the weekend showing China’s factory activity expanded at the weakest pace since last May.
February also saw the Lunar New Year holidays, when many workers return to their hometowns, although this year saw far fewer trips amid coronavirus fears.
The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) fell to 50.9 last month, the lowest level since last May.
Analysts polled by Reuters had expected the index to remain unchanged from January’s reading of 51.5. The 50-mark separates growth from contraction on a monthly basis.
“Overseas demand continued to drag down overall demand…Surveyed manufacturers highlighted fallout from domestic flare-ups of Covid-19 in the winter as well as the overseas pandemic,” said Wang Zhe, senior economist at Caixin Insight Group, in comments released alongside the data.
A sub-index for production fell to 51.9, the slowest pace of expansion since April last year, while another sub-index for new orders fell to 51.0, the lowest since May.
Export orders shrank for the second month. Factories laid off workers for the third month, and at a faster pace, with Wang noting “companies were not in a hurry to fill vacancies.”
An index of confidence in the year ahead rose however to 63.0, the highest since October. Input and output prices continued to rise albeit at a slower pace.
“Now the major challenge for policymakers will be maintaining the post-coronavirus recovery while paying close attention to inflation,” Wang added.
Analysts from HSBC this week forecast that China’s economy would grow 8.5% this year, leading the global recovery from the pandemic.
(Reporting By Gabriel Crossley; Editing by Ana Nicolaci)
Oil prices climb after progress on huge U.S. stimulus bill
By Jessica Jaganathan
SINGAPORE (Reuters) – Oil prices rose more than $1 on Monday on optimism in the global economy thanks to progress in a huge U.S. stimulus package and on hopes for improving oil demand as vaccines are rolled out.
Brent crude futures for May rose $1.07, or 1.7%, to $65.49 per barrel by 0042 GMT. The April contract expired on Friday.
U.S. West Texas Intermediate (WTI) crude futures jumped $1.10, or 1.8%, to $62.60 a barrel.
“Oil prices are recovering this morning in line with most risk assets on the back of the U.S. stimulus bill passing the House and as central banks continue to sabre rattle to ward off market-implied financial tightening,” Stephen Innes, chief global markets strategist at Axi, wrote in a note on Monday.
U.S. House of Representatives passed a $1.9 trillion coronavirus relief package early Saturday. Democrats who control the chamber approved the sweeping measure by a mostly party-line vote of 219 to 212 and sent it to the Senate, where Democrats planned a legislative manoeuvre to allow them to pass it without the support of Republicans.
More positive news on the coronavirus vaccination front and signs of an improving Asian economy also boosted prices.
A U.S. Centers for Disease Control and Prevention advisory panel voted unanimously on Sunday to recommend Johnson & Johnson’s COVID-19 shot for widespread use, and U.S. officials said initial shipments would start on Sunday.
J&J expects to ship more than 20 million doses by the end of March and 100 million by midyear, enough to vaccinate nearly a third of Americans.
Over in Japan, a private survey showed factory activity expanding at the fastest pace in over two years in February, adding to signs of a rebound in Asian growth.
On the flip side, investors are betting that this week’s meeting of the Organization of the Petroleum Exporting Countries (OPEC) and allies, a group known as OPEC+, will result in more supply returning to the market.
“More supply needs to come onto the market to ensure OPEC+ meets incremental demand and keeps internal discipline ducks in a row,” Innes added.
(Reporting by Jessica Jaganathan; Editing by Shri Navaratnam)
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