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-- Bonney Forge Corporation, a leading international manufacturer and marketer of industrial forged steel valves, cast steel valves, forged steel fittings, unions and branch connections, announced today that it has completed the acquisition of BFE S.p.A., an Italian manufacturer of industrial valves for applications primarily in the oil and gas industries, from Pegaso S.p.A., a subsidiary of Acciaierie Valbruna S.p.A. (the “Seller”).
Established in 1957 and headquartered in Albano Sant’Alessandro (Bergamo, Lombardy), BFE S.p.A. specializes in the design, development and manufacture of a comprehensive range of industrial valves for applications in the oil and gas, chemical, petrochemical and power industries. BFE’s product portfolio encompasses forged steel valves, API 6A valves, ball valves, cast steel valves, and pressure seal valves. Since 1987, BFE has held an exclusive license agreement to use the Bonney Forge trademark in markets outside of North America, and Bonney Forge has been the exclusive sales and marketing agent for BFE products in the U.S., Canada, and the Caribbean.
John Leone, Chairman and CEO of Bonney Forge Corporation, stated “The completion of this acquisition marks an exciting new chapter for Bonney Forge. This is an ideal strategic alliance between two experienced management teams with a long history of successfully partnering. BFE’s highly engineered products, key position as a premiere supplier in the international oil and gas industry, and exciting growth potential make it a compelling fit for our organization. We are confident our customers will benefit from the addition of BFE's product offering and international manufacturing and distribution capabilities.”
BFE was acquired in a cash transaction. Other terms of the acquisition are not disclosed. Wells Fargo Securities, LLC acted as exclusive financial advisor to Bonney Forge. Lazard & Co. and UniCredit S.p.A acted as financial advisors to the Seller.
Founded in 1876, Bonney Forge Corporation is a manufacturer and marketer of world-class, high quality forged steel fittings and unions, forged steel valves, cast steel valves and specialty products utilized in challenging operating environments. Bonney Forge serves multinational companies in the oil and gas, petrochemical, power generation, chemical manufacturing and general industrial piping industries.
Bonney Forge, headquartered in Mount Union, PA, has a fully-integrated forged steel fitting and valve manufacturing facilities. The Company owns WFI International, located in Houston, TX, which is a fully-integrated manufacturing operation specializing in made-to-order o-let fittings and engineered piping components. Bonney Forge’s international operation, Bonney Forge Shanghai, is a wholly-owned foreign enterprise and manufactures cast steel valves.
For additional information, contact 1-800-345-7546 or e-mail at firstname.lastname@example.org
Bonney Forge has been named to the 2012 Top 100 Organizations list by the editorial board of Pennsylvania Business Central. Nominations were taken from throughout the publication's 20-county coverage area, and the final honorees were businesses that achieved a level of excellence, and had a positive impact on the region in 2012. Bonney Forge was among 65,000 eligible candidates.
Bonney Forge Corporation was proud to be recognized for the Bechtel Power Corporation 2012 Key Supplier Award. Bonney Forge was honored for its valuable contributions made to Bechtel Power projects in 2012. This award recognizes outstanding supplier and subcontractor performance on an annual basis.
The best price, quality, and service for our customers. It's what we do and we are honored to be recognized for it.
On April 24, 2012 Bonney Forge Corporation was proud to be recognized for the Bechtel Power Corporation 2011 Key Supplier Award. Bonney Forge was honored for its valuable contributions made to Bechtel Power projects in 2011. This award recognizes outstanding supplier and subcontractor performance on an annual basis. The dinner and award ceremony was held at the Ceresville Mansion near Bechtel headquarters Frederick, Maryland.
The best price, quality, and service for our customers. It's what we do and we are honored to be recognized for it.
Mount Union PA.----Bonney Forge Corporation regrets to announce the passing of J. Rick Leone, the Company's Executive Vice President, April 16, 2012.
A 27-year employee of Bonney Forge, Mr. Rick Leone was in Atlanta, Georgia at the time of his passing. During his career, he held several senior positions at Bonney Forge in a number of functional areas within the organization.
Bonney Forge representatives said, "We are saddened to announce the unexpected passing of Rick who was an integral member of the Bonney Family. Rick served Bonney Forge with distinction in positions of increasing responsibility spanning nearly three decades. He was a substantial contributor to the growth in the Company from its humble beginnings to the world class operation it is today.
"For many years at Bonney Forge, we have spoken of the Bonney Family Spirit, and Rick truly exemplified that Family Spirit in every aspect of his life. He was a special member of the BF family who served as an industry leader, a mentor and a role model for many within the Company. Although he will be missed, he will not be forgotten as his legacy will live on in those he has prepared for the future. We mourn his passing and will miss his dedication, his expertise and the bond of friendship he had with each of our employees. Our thoughts and prayers are with the Leone family."
With manufacturing facilities in the United States and abroad, Bonney Forge serves as the primary resource for the power, oil, gas, chemical, marine and construction industries worldwide.
Bonney Forge and WFI Announces Online MTRs which include Original Steel Mill and Foundry Certificate for Every Product
Bonney Forge, a leading manufacturer and supplier of branch connections, fittings and unions, cast steel valves and forged steel valves as well as specialty products, and WFI International, which manufactures branch connections, engineered-to-order, and nuclear products, now offers customers online access to mill test reports which include the Original Steel Mill and Foundry Certificate for every product.
“ In answering the numerous requests from end users and our customers to develop an efficient way to obtain this information, we created our Proof Positive Quality Program. An integral component of the program is making these certified reports easily accessible on our website to provide customers with the original steel mill and foundry sources of the products they’ve come to know and trust from Bonney Forge and WFI, ” said Rick Leone, Executive Vice President of Sales and Marketing. “ Our customers — both end users and distributors — deserve to be assured of the source and quality of the original raw material for our products. ”
By sharing the original Steel Mill and Foundry Certificate on every MTR, Bonney Forge and WFI raises the bar for quality assurance industry wide. In addition to the origin of the raw material, MTRs include chemical analysis, mechanical properties, and quality accordances. “ With this certification, we guarantee customers that we use the highest quality materials available to ensure unsurpassed product performance, every time, ” said Leone.
Established in 1876, and headquartered in Mt. Union, PA., Bonney Forge is recognized as a global leader in the marketing and manufacturing of branch connections, fittings and unions, cast steel valves and forged steel valves as well as specialty products. For more than a century, Bonney Forge has achieved manufacturing excellence through detailed attention to customers’ needs and producing consistently superior flow control products. With manufacturing facilities located in the United States and abroad, Bonney Forge serves as the primary resource for the power, oil, gas, chemical, marine, and construction industries worldwide.
WFI International is located in Houston, TX and operates in a 101,500 sq. ft. fully integrated manufacturing facility that supplies commodity branch connections and specializes in engineered-to-order, and nuclear products. To learn more about WFI International and to access our online MTRs, visit wfi-intl.com. For more information about Bonney Forge call 800-231-0655 or visit our website at www.bonneyforge.com.
Bonney Forge China, our cast steel valve manufacturing subsidiary in Shanghai, China has completed the change of its legal name to Bonney Forge Shanghai Limited. The company continues to produce a high quality line of cast steel gate, globe and check valves at its plant in the Qingpu Industrial District of Shanghai.
Team Bonney Forge recently took part in the Huntingdon County PRIDE Office Olympix. Team members were required to compete against other Huntingdon County businesses in indoor carnival games. Not only did Team Bonney reign supreme in event points, they also were recognized for raising more money than all competing orginizations. All funds raised will be donated to PRIDE programs which provide for developmentally and/or physically disabled Huntingdon County residents.
University Park, Pa. – John and Willie Leone have committed to endow the Department of Energy and Mineral Engineering in Penn State's College of Earth and Mineral Sciences with a leadership gift of $5 million. The University will name the department in recognition of the couple's generosity.
The gift is the largest from an individual or couple in the history of the College of Earth and Mineral Sciences, and will enable the John and Willie Leone Family Department of Energy and Mineral Engineering to create such opportunities as a faculty chair, undergraduate scholarships and graduate fellowships.
“John and Willie have been extremely generous to the College of Earth and Mineral Sciences, and this gift is yet another example of their commitment to Penn State, EMS and our students,” said Bill Easterling, dean of the college. “It will have a wide and lasting impact by providing a significant pool of resources to foster an innovative program that brings together engineering and business education.”
John Leone is president and chief executive officer of Bonney Forge, with manufacturing operations in Mount Union, Pa.; Houston, Texas; Shanghai, China; and Bergamo, Italy. Bonney Forge, founded in 1876, is an industry leader in marketing and manufacturing forged steel fittings and unions, branch connections, forged steel valves, cast steel valves and specialty engineered products for the energy industries.
“We are pleased to make this commitment, which provides a foundation for a program in the college, integrating engineering and business disciplines," said John Leone. "I’m confident that graduates of this program will possess distinctive skills that will benefit their careers, industry and the University."
John Leone graduated in 1956 from Penn State's petroleum and natural gas engineering program and earned an MBA from Northern Illinois University in 1976. He is a life member of the American Society of Mechanical Engineers and a Pipe Valves and Fittings Industry Hall of Fame honoree. At Penn State, he was named an Earth and Mineral Sciences Centennial Fellow in 1996, a recipient of the C. Drew Stahl Distinguished Achievement Award in Petroleum and Natural Gas Engineering in 2006, and a Penn State Alumni Fellow in 2008.
Willie Leone is a former professional ice skater. The couple resides in Bethlehem, Pa.
The Leones have a long history of supporting Penn State, dating from their first gift to the Department of Petroleum and Natural Gas Engineering in 1984. Their philanthropy includes gifts for undergraduate scholarships in petroleum and natural gas engineering, theatre and dance and Penn State athletics. The College of Arts and Architecture has an endowed scholarship, named for Willie Leone, that assists undergraduates majoring in musical theatre who are especially talented in the area of dance.
The endowment for the John and Willie Leone Family Department of Energy and Mineral Engineering is part of a University-wide fundraising initiative, For the Future: The Campaign for Penn State Students, which officially kicked off in April. The campaign’s top priority is keeping a Penn State education accessible for students and families. For the Future is the most ambitious effort of its kind in Penn State’s history, with the goal of securing $2 billion by 2014.
Bonney Forge has developed a mobile tester for assembled unions and in-process union components. The pneumatic cylinder pressure is set to duplicate the “minimum tightening torque requirement” for each size. Below are some of the advantages of this unit.
The following is an excerpt from the December, 2009 Supply House Times Letter to the Editor from Rob Raban, President of Industrial Valco:
"Just wanted to send a note regarding recent articles in Supply House Times by Joan Adams on “What’s Killing U.S. Manufacturers.” The central crux of Ms. Adams’ argument seems to be that American manufacturers are prone to long lead times because they don’t want to take the time to change out tooling to make more breadth of product. “Shorter runs and lightning response time” will lead our manufacturers out of stale thinking, according to the author. That and erasing the belief that American workers are slow and incapable. Presumably, the Chinese, who are an ocean away, have a more enlightened view of manufacturing and are therefore better able to respond to the needs of the industry than our homegrown American manufacturers and that’s what’s killing U.S. manufacturing.
Untrue. Inaccurate. Irresponsible. Simplistic. Unprofessional. These are a few words that come to mind in assessing these articles (September and October issues).
Question: Who did Ms. Adams interview for this article?
Industrial Valco has been buying from domestic manufacturers for 60 years. They are among the most efficient and highest quality manufacturers in the world. Among them:
Bonney Forge: Bonney’s forged steel fitting operation is among the finest in the world. They produce over 1,000 line items and can ship 90+% from stock. Their product is approved everywhere and their service is outstanding. Bonney is an industry leader.
Boltex Mfg: Boltex has invested more in forging production and flange manufacturing than anyone in the world. Their product is on every approval list. They also produce close to 1,000 line items and ship 90% from stock. Boltex is an industry leader.
Tube Forgings of America, Mills Ironworks, and Westbrook Manufacturing are a few other U.S. manufacturers that offer tremendous service, rapid response time, thousands of line items and 90% shipment from stock.
All of these manufacturers are industry leaders that have embraced what Ms. Adams argues for — shorter runs, rapid response times and streamlined operations pulling the best from American workers.
And I can buy every one of these products overseas at half the price.
What Ms. Adams should focus her time and attention on is, how is it possible for foreign manufacturers to sell weld fittings, as an example, at a cost below what U.S. manufacturers pay for the pipe?
Just wanted you to know the journalistic quality of these articles is far below the standards that I know you have for your fine magazine. I’ve cc’d some of these manufacturers so they know how I feel about their product and how proud I am to represent them.
Bonney Forge has collaborated with the Pipe Fabrication Institute (PFI) to produce their 2008 Approved Release PFI Standard ES-49, “Guideline for Installation of Integrally Reinforced Branch Outlet Fittings”, which covers in detail the basic welding procedure and recommended weld deposit criteria for OLET® fittings.
Additionally, a revision has been proposed to B31.1 “Power Piping Code” clarifying the governing criteria used for weld size determination and provides depictions of some acceptable weld profile for “Integrally Reinforced Branch Outlet Connections”.
This proposal has favorably passed the sub-committee and is currently under ballot in B31.1 main committee. The approved revisions are Paragraph 127.4.8 and the addition of Figure 127.4 (G) showing acceptable details for integrally reinforced branch connections.
This initial proposal consisted of the addition of Figure 127.4 (G), “Some Acceptable Details for Integrally Reinforced Branch Connections,” and the corresponding changes to paragraphs 104.3.1, 127.4.8 and 132.4.2, as well as the addition to paragraph 100.4.2 for the definition of an “Integrally Reinforced Branch Outlet Fitting”. These details have not previously been included in B31.1.
ASTM Update: A105 Hardness Reporting Ballot
The following ballot was issued with a closing date of February 25, 2009 and was approved in sub-committee. The following is the proposed and accepted changes in the ballot to the ASTM A105 specification: (Will be published in the next revision of A105. Any manufacturer not providing these new criteria is not in compliance with the ASTM A105 specification.) - See underlined below.
“7.4 Hardness Tests –
7.4.1 – Two hardness tests shall be made for each heat of as-forged components. When more than one forging is produced from each heat, a minimum of two forgings shall be tested with one reading from each forging. When only one forging is produced, it shall be tested in two locations.
7.4.2 – Except when only one forging is produced, a minimum of two forgings shall be hardness tested per batch of continuous run as defined in 22.214.171.124 to ensure that forgings are within the hardness limits given in Table 2. When only one forging is produced, it shall be hardness tested in two locations to ensure it is within the hardness limits given in Table 2.
12, 2.4 Hardness results, Section 7 (Table 2), a minimum of two readings and . . .”
NOTE: Specification copies are available from the PFI or ASTM/ASME as appropriate
Our new 16,500 sq. ft. Forge Shop has become home to a recently installed new 3,000 Ton H Frame Hydraulic Press. The Press Main Cylinder is 41 inch diameter and operates at up to a staggering 4550 psi. This new powerhouse is run by (4) 400 HP Electric Motors and Pumps using an oil reservoir of over 2,800 gallons.
This new Press is complemented by a new 300 Ton Vertical Ring Mill that has increased our ring size capabilities of the new press. A four column frame design with moving bolster guide has up to 300 tons of roll forging capacity.
These two new pieces of equipment are supplemented by a new Twin Bed Forge Furnace designed with the latest technologies and built to meet the needs of these larger capacity equipment material requirements.
WFI has a commitment to growth aimed at meeting our customers needs.
Bonney Forge is now requiring that our foundry sources control and report the Aluminum content on all valve castings used for our Cast Steel Valve product line. This new Aluminum limit, set at 0.06% maximum for WCB material, has been put in place to make sure that our Cast Steel Valve pressure retaining components have limited amounts of Aluminum in their chemical make-up, which is important as high levels of Aluminum has been shown to impair the mechanical strength of this material. Bonney Forge has implemented this new material requirement today on our own, prior to the implementation of any new requirements on this issue by the marketplace, reinforcing our commitment of providing the highest quality valve products to our customers every time. Concerning Aluminum Content only, not all MTR's will have this reported for stock prior to the implementation; only new casting purchases.