MONTRÉAL, QUÉBEC--(Marketwired - Nov. 29, 2016) - Velan Inc. (TSX:VLN)
A subsidiary of Velan, Velan ABV is a manufacturer of specialized valves, actuators, and control systems. The company employs approximately 120 people and has two manufacturing plants in Lucca, Italy.
Presented at Valve World Conference & Expo 2016 in Düsseldorf, Velan ABV's new patent-protected cable drive actuator benefits from a transmission system with constant torque and high accuracy along the entire quarter-turn rotation. Its modular construction comprises a center body, pneumatic or hydraulic power cylinder and a spring cartridge for emergency action. It is the actuator's newly designed center body with its revolutionary cable drive system that separates it from the standard scotch yoke actuator.
"We've had considerable experience over the years designing and manufacturing extremely high-quality valves and actuators. This new design builds on that expertise and takes it to the next level," said Paolo Ranieri, CEO of Velan ABV. "First off, the features of our new actuator help cut operational costs. Since it produces 30% more running torque than traditional scotch yoke actuators, smaller actuators can be installed. Fewer components and less friction mean lower maintenance--and it's safer to run."
Yves Leduc, President of Velan, added: "Velan is introducing a unique and innovative quarter-turn actuator that offers strong benefits for control precision in a cost-effective package. Our decision to expand our portfolio of actuators is in line with our strategy to leverage our innovation capabilities in addressing specific end-user needs that remain underserved."
About Velan: Velan Inc. (www.velan.com) is a world-leading manufacturer of industrial valves with sales of US$426.9m in its last reported fiscal year. The company employs approximately 1,900 people and has manufacturing plants in nine countries. Velan Inc. is a public company with its shares listed on the Toronto Stock Exchange under the symbol VLN.
This press release may contain information and statements of a forward-looking nature concerning the future performance of Velan Inc. and its subsidiaries. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. As a result, readers are advised that actual results may differ from expected results.