Velan Inc - Company Profile
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Velan Inc (Velan) is a manufacturer of industrial valves. Its product portfolio includes gate, globe and check valves, quarter-turn valves, cryogenic control valves, HF acid valves, bellows seal valves, steam traps and velan ABV valves. The company also offers services such as commissioning, troubleshooting, witness start-up, applications engineering, acid-clean witness and design of special tooling. Velan offers its products and services to various industries such as nuclear power, power, oil and gas, chemical, pulp and paper, mining, marine and LNG and cryogenics. The company has its operational presence across North America, Europe and Asia. Velan is headquartered in Montreal, Quebec, Canada.
Headquarters
Canada
Address
7007 Cote De Liesse, Montreal, Quebec, H4T1G2
Website
www.velan.com
Telephone
1 514 7487743
No of Employees
1,630
Industry
Industrial Goods and Machinery
Ticker Symbol & Exchange
VLN (TSE)
Revenue (2023)
$370.4M
-9.9%
(2023 vs 2022)
EPS
XYZ
Net Income (2023)
XYZ
-162.3%
(2023 vs 2022)
Market Cap*
$91.1M
Net Profit Margin (2023)
XYZ
-191.3%
(2023 vs 2022)
* As of and is in US$
Velan Inc premium industry data and analytics
Products and Services
| Products | Services |
|---|---|
| Gate, Globe and Check Valves: | Commissioning |
| Pressure Seal Valves | Troubleshooting |
| Bolted Bonnet High Pressure Valves | Witness Start-Up |
| XYZ | XYZ |
| XYZ | XYZ |
| XYZ | XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2023 | Regulatory Approval | In May, the company secured approval from the Superior Court of Quebec to be acquired by Flowserve US Inc. |
| 2023 | Contracts/Agreements | In February, the company entered into an agreement to be acquired by Flowserve FLS for US$245 million. |
| 2019 | Contracts/Agreements | In May, Velan’s subsidiaries, Velan ABV Srl and Velan SAS secured contracts worth US$63 million. |
Competitor Comparison
| Key Parameters | Velan Inc | Flowserve Corp | ITT Inc | Hy-Lok Corp | China Valves Technology Inc |
|---|---|---|---|---|---|
| Headquarters | Canada | United States of America | United States of America | South Korea | China |
| City | Montreal | Irving | Stamford | Busan | Zhengzhou |
| State/Province | Quebec | Texas | Connecticut | - | Henan |
| No. of Employees | 1,630 | 16,000 | 10,600 | 583 | 2,400 |
| Entity Type | Public | Public | Public | Public | Private |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| James A. Mannebach | Chief Executive Officer; Chairman | Executive Board | 2024 | 63 |
| Rishi Sharma | Chief Financial and Administrative Officer | Senior Management | 2023 | - |
| Rob Velan | Vice Chairman | Executive Board | - | 52 |
| Shane Velan | Chief Information Officer | Senior Management | 2016 | - |
| P. Dion | Senior Vice President - Sales, Process Industries | Senior Management | - | - |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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