Meng B.,Zhejiang University |
Gu C.,Zhejiang University |
Zhang L.,Zhejiang University of Technology |
Zhou C.,Zhejiang University of Technology |
And 5 more authors.
International Journal of Hydrogen Energy | Year: 2016
Blending hydrogen into existing natural gas pipelines has been proposed as a means of increasing the output of renewable energy systems such as large wind farms. X80 pipeline steel is commonly used for transporting natural gas and such steel is subjected to concurrent hydrogen invasion with mechanical loading while being exposed to hydrogen containing environments directly, resulting in hydrogen embrittlement (HE). In accordance with American Society for Testing and Materials (ASTM) standards, the mechanical properties of X80 pipeline steel have been tested in natural gas/hydrogen mixtures with 0, 5.0, 10.0, 20.0 and 50.0vol% hydrogen at the pressure of 12 MPa. Results indicate that X80 pipeline steel is susceptible to hydrogen-induced embrittlement in natural gas/hydrogen mixtures and the HE susceptibility increases with the hydrogen partial pressure. Additionally, the HE susceptibility depends on the textured microstructure caused by hot rolling, especially for the notch specimen. The design calculation by the measured fatigue data reveals that the fatigue life of the X80 steel pipeline is dramatically degraded by the added hydrogen. © 2016 Hydrogen Energy Publications LLC. Source
Guo J.,Zhejiang University |
Xing L.,Zhejiang University |
Hua Z.,Zhejiang University |
Gu C.,Zhejiang University |
Zheng J.,High Pressure Equipment
International Journal of Hydrogen Energy | Year: 2016
Hydrogen gas cycling test can provides stress factors associated with rapid and simultaneous interior pressure and temperature swings and infusion of hydrogen into materials; therefore, it is considered as an effective method to detect the safety of the compressed hydrogen storage system. However, the energy consumption of gas cycling test is high. In order to reduce energy consumption, an optimization gas cycling test system was designed based on multi-stage storage and self-pressurized method in this paper. A dynamic simulation model which considers the process of refueling, pressure control, pre-cooling and discharging was also established to calculate the energy consumption. Using the model, the energy consumption of different system with different storage stages, different pressure, and different volumes was calculated. The results show that with the increase of gas storage stages, total energy consumption of the system decreases, but taking into account the complexity of the system, the stages should be less than three; In the range of 20-50 MPa and 1-4 m3, lower pressure and smaller volume of low pressure tank can not only reduce the gas the construction cost, but also reduce the energy consumption; In the range of 45-60 MPa and 1-3 m3, the effect of medium pressure tank on the energy consumption is not significant. This study provides a new optimization design method for compressed hydrogen cycling test system, has an important significance in development of high pressure hydrogen gas cycling test. © 2016 Hydrogen Energy Publications LLC. Source
High Pressure Equipment | Date: 2016-05-31
News Article | April 22, 2015
MINNEAPOLIS--(BUSINESS WIRE)--Graco Inc. (NYSE: GGG) today announced results for the first quarter ended March 27, 2015. Summary $ in millions except per share amounts "Company sales grew at a mid-single digit pace organically in the first quarter, on a constant currency basis, consistent with our outlook," said Patrick J. McHale, Graco's President and CEO. "Our strongest region remains the Americas, growing at a double-digit rate in the quarter, led by 27 percent growth in our Contractor segment. The Contractor business continues to benefit from the recovery in the U.S. construction market." "Operating earnings declined in the quarter, reflecting multiple headwinds," continued McHale. "As expected, unfavorable currency exchange rates pressured both sales and earnings. During the quarter, the Contractor segment successfully launched new products, although associated launch costs held segment incremental margins in check. In the Industrial segment, sales declines in the EMEA and Asia Pacific regions resulted in an unfavorable regional sales mix and decremental margins for the segment. Investment in regional and product growth initiatives, focused on organic growth in the Oil & Natural Gas market, continued expansion of our presence in South & Central America, and a new warehouse in China to enhance product availability, was a $2 million headwind in the first quarter." Changes in currency translation rates reduced sales and net earnings by approximately $13 million and $4 million, respectively, for the quarter. Sales increased 6 percent, with a 16 percent increase in the Americas and decreases of 6 percent in EMEA and 9 percent in Asia Pacific. Sales from operations acquired in the fourth quarter of 2014 and the first quarter of 2015 totaled $15 million, contributing 5 percentage points of growth. Organic sales at consistent translation rates increased 5 percent, with a 12 percent increase in the Americas, flat in EMEA, and a 10 percent decrease in Asia Pacific. Gross profit margin rate was 53 percent, down 2 percentage points from the comparable period last year. Changes in currency translation rates accounted for more than half of the decrease. Effects of purchase accounting totaling approximately $3 million and changes in mix also contributed to the decrease. Total operating expenses were $12 million (15 percent) higher than the comparable period last year. The increase included expenses of acquired operations totaling $6 million, incremental spending related to regional expansion and product initiatives of $2 million, Contractor marketing and new product launch costs of $2 million and additional unallocated corporate expense (mostly pension, stock compensation and new central warehouse) totaling $2 million. Held separate investment income, net included dividends received from the Liquid Finishing businesses that were held separate from the Company’s other businesses. First quarter dividend income was $30 million in 2015 and $4 million in 2014. The effective income tax rate of 22 percent for the quarter was 9 percentage points lower than the comparable period last year, mostly due to the impact of higher post-tax dividend income. Beginning with the first quarter of 2015 the Company revised the presentation of its financial reporting segments. Operations of the Process and the Oil and Natural Gas divisions, historically included in the Industrial segment, are now aggregated with the Lubrication division (formerly reported as a separate segment) in the newly-formed Process segment. This change aligns the types of products offered and markets served within the segments. Prior year segment information has been restated to conform to 2015 reporting. A summary of the Company’s three reportable segments (Industrial, Process and Contractor) follows. The Industrial segment includes the Industrial Products and the Applied Fluid Technologies divisions. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids. Markets served include automotive and vehicle assembly and components production, wood and metal products, rail, marine, aerospace, farm, construction, bus, recreational vehicles, and various other industries. The Process segment includes the Process, the Oil and Natural Gas, and the Lubrication divisions. The Process segment markets pumps, valves, meters and accessories to move and dispense chemicals, oil and natural gas, water, waste water, petroleum, food, lubricants and other fluids. Markets served include food and beverage, dairy, oil and natural gas, pharmaceutical, cosmetics, electronics, waste water, mining, fast oil change facilities, service garages, fleet service centers, automobile dealerships and industrial lubrication applications. The Contractor segment remains unchanged. The Contractor segment markets sprayers for architectural coatings for painting, corrosion control, texture, and line striping. Certain measurements of segment operations are summarized below: Industrial segment sales decreased 6 percent (1 percent at consistent translation rates). Sales in this segment increased 3 percent in the Americas and decreased 14 percent in EMEA (1 percent at consistent translation rates) and 11 percent in Asia Pacific (8 percent at consistent translation rates). Operating margin rate for the Industrial segment decreased 2 percentage points compared to last year, driven by changes in currency translation rates and higher expenses relative to sales. Process segment sales increased 28 percent (32 percent at consistent translation rates), including double-digit percentage increases in all regions. Nearly all of the sales increase was from acquired operations including Alco Valves (acquired fourth quarter of 2014), White Knight Fluid Handling and High Pressure Equipment (both acquired in January 2015). Lower profit margins of acquired operations, changes in currency translation rates and incremental investment in oil and natural gas products led to the decrease in operating margin rate for this segment. Contractor segment sales increased 12 percent (16 percent at consistent translation rates). Sales increased 27 percent in the Americas and decreased 15 percent in EMEA (2 percent at consistent translation rates) and decreased 26 percent in Asia Pacific (23 percent at consistent translation rates). Operating margin rate in the Contractor segment decreased by one percentage point mostly due to changes in currency translation rates and $2 million additional marketing spending, including new product launch costs and other volume-related increases. In March 2015, the FTC approved the Company’s application to sell the Liquid Finishing business assets it acquired in 2012. The sale was completed on April 1, 2015 in a $590 million cash transaction, subject to customary post-closing adjustments. The Company used proceeds from the sale to repay approximately $500 million of debt. The Liquid Finishing business assets were held separate as a cost-method investment on Graco’s balance sheet, and income was recognized based on dividends received from current earnings. Results excluding Liquid Finishing investment income and expense are a better measure of the Company’s on-going operations and provide a more consistent base of comparison to future results. A calculation of the non-GAAP measurement of net earnings excluding investment income and expense follows (in millions except per share amounts): “We remain committed to achieving mid-single digit organic sales growth, on a constant currency basis, for the full year 2015 as well as growth in every reportable segment and geography,” stated McHale. “Continued investments in our long-term growth initiatives are a priority in 2015, which support our organic sales growth expectations but will hamper near-term profitability. Ongoing currency headwinds and geopolitical instability remain a concern. At current exchange rates, unfavorable changes in foreign currency translation rates create a full-year headwind of approximately 5 percent on sales and 11 percent on earnings in 2015.” The Company desires to take advantage of the “safe harbor” provisions regarding forward-looking statements of the Private Securities Litigation Reform Act of 1995 and is filing this Cautionary Statement in order to do so. From time to time various forms filed by our Company with the Securities and Exchange Commission, including this Form 10-Q and our Form 10-K and Form 8-Ks, and other disclosures, including our 2014 Overview report, press releases, earnings releases, analyst briefings, conference calls and other written documents or oral statements released by our Company, may contain forward-looking statements. Forward-looking statements generally use words such as “expect,” “foresee,” “anticipate,” “believe,” “project,” “should,” “estimate,” “will,” and similar expressions, and reflect our Company’s expectations concerning the future. All forecasts and projections are forward-looking statements. Forward-looking statements are based upon currently available information, but various risks and uncertainties may cause our Company’s actual results to differ materially from those expressed in these statements. The Company undertakes no obligation to update these statements in light of new information or future events. Future results could differ materially from those expressed, due to the impact of changes in various factors. These risk factors include, but are not limited to: our Company’s growth strategies, which include making acquisitions, investing in new products, expanding geographically and targeting new industries; economic conditions in the United States and other major world economies; changes in currency translation rates; changes in laws and regulations; compliance with anti-corruption laws; new entrants who copy our products or infringe on our intellectual property; risks incident to conducting business internationally; the ability to meet our customers’ needs and changes in product demand; supply interruptions or delays; security breaches; political instability; results of and costs associated with, litigation, administrative proceedings and regulatory reviews incident to our business; the possibility of decline in purchases from few large customers of the Contractor segment; variations in activity in the construction and automotive industries; and natural disasters. Please refer to Item 1A of our Annual Report on Form 10-K for fiscal year 2014 (and most recent Form 10-Q) for a more comprehensive discussion of these and other risk factors. These reports are available on the Company’s website at www.graco.com/ir and the Securities and Exchange Commission’s website at www.sec.gov. Shareholders, potential investors and other readers are urged to consider these factors in evaluating forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. Investors should realize that factors other than those identified above and in Item 1A might prove important to the Company’s future results. It is not possible for management to identify each and every factor that may have an impact on the Company’s operations in the future as new factors can develop from time to time. Graco management will hold a conference call, including slides via webcast, with analysts and institutional investors on Thursday, April 23, 2015, at 10:00 a.m. CT, 11:00 a.m. ET, to discuss Graco’s first quarter results. A real-time webcast of the conference call will be broadcast live over the Internet. Individuals wanting to listen and view slides can access the call at the Company’s website at www.graco.com/ir. Listeners should go to the website at least 15 minutes prior to the live conference call to install any necessary audio software. For those unable to listen to the live event, a replay will be available soon after the conference call at Graco’s website, or by telephone beginning at approximately 1:00 p.m. CT on April 23, 2015, by dialing 888-203-1112, Conference ID #1366681, if calling within the U.S. or Canada. The dial-in number for international participants is 719-457-0820, with the same Conference ID #. The replay by telephone will be available through April 27, 2015. Graco Inc. supplies technology and expertise for the management of fluids and coatings in both industrial and commercial applications. It designs, manufactures and markets systems and equipment to move, measure, control, dispense and spray fluid and powder materials. A recognized leader in its specialties, Minneapolis-based Graco serves customers around the world in the manufacturing, processing, construction and maintenance industries. For additional information about Graco Inc., please visit us at www.graco.com/ir. All figures are subject to audit and adjustment at the end of the fiscal year. The consolidated Balance Sheets, Consolidated Statements of Cash Flows and Management's Discussion and Analysis are available in our Quarterly Report on Form 10-Q on our website at www.graco.com/ir.
News Article | August 11, 2015
MINNEAPOLIS--(BUSINESS WIRE)--Graco Inc. (NYSE:GGG) announced today that it is launching a new line of chemical injection equipment for use in the midstream and upstream sectors of the Oil & Natural Gas markets. This new, internally designed and developed product line includes highly durable pumps, technologically advanced controllers, and accessories to dispense, control, and monitor numerous chemical fluids used to keep oil and natural gas pipelines and wellheads flowing freely in most operating and weather conditions. “Graco’s line of chemical injection equipment is the next phase in the company’s strategic plan to expand its presence in the Oil & Natural Gas market space,” said Chuck Rescorla, Vice President of Corporate Manufacturing and Corporate Development. The AC & DC WolverineTM pump line includes hundreds of variations of solar-operated and electrically-operated pumps and packages to meet the needs of operators primarily in the upstream and midstream oil exploration markets. Wolverine chemical injection pumps reduce atmospheric emissions while providing a greater level of flow control when used with Graco injection rate controllers. Designed with durability in mind, these injection pumps feature newly designed pump lowers whose sealing capability can last up to 25 times longer than many other designs on the market. The pneumatically operated PythonTM line-up of chemical injection pumps includes numerous configurations of models to accommodate the pressure and volume requirements often experienced in the upstream and midstream industry. Python pumps are ideal for applications in tough environments and can operate from regulated natural gas or compressed air. The Python line offers lower costs of ownership, they are easy to operate, and use half the air consumption of many other comparable pumps in the market. They feature extremely rugged internal components and timing valves designed for years of operation before replacement. Graco’s HarrierTM line of controllers offer new capabilities to monitor chemical injection pump units in the field from remote locations. Among their many advantages, the Harrier line provides substantial operational cost savings as well as access to accurate and immediate operational data. The new Harrier controllers are affordable and will work with Graco’s new chemical injection pumps as well as competitive offerings, providing the end user an opportunity to upgrade existing systems already in the field. Graco recently acquired two well-known international brands in the Oil & Natural Gas market – Alco Valves Group and High Pressure Equipment company. Combined with its organically developed offerings such as the chemical injector suite of products, Graco now has a well-rounded product portfolio to serve the needs of Oil & Natural Gas customers worldwide. For additional information, please visit the Graco website at www.graco.com and view current support materials and literature, or email us at email@example.com , or call 1-886-552-1868. Graco Inc. supplies technology and expertise for the management of fluids and coatings in both industrial and commercial applications. It designs, manufactures and markets systems and equipment to move, measure, control, dispense, and spray fluid and powder materials. A recognized leader in its specialties, Minneapolis-based Graco serves customers around the world in the manufacturing, processing, construction, and maintenance industries. For additional information about Graco Inc., please visit us at www.graco.com or on Twitter @GracoInc.