www.ushalonbank.com 1.800.433.1751                                   August 2021 - Vol 4, Issue 3
Johnson Controls Reports Solid Third Quarter Results – Sales Up 18%

By Cision PRNewswire
Yahoo! Finance

Johnson Controls International plc, the global leader for smart, healthy and sustainable buildings, reported fiscal third quarter 2021 GAAP earnings per share (EPS) from continuing operations, including special items, of $0.80. Excluding these items, adjusted EPS from continuing operations was $0.83, up 24% versus the prior year period.

"We delivered another strong quarter of growth, profitability and cash flow in the quarter," said George Oliver, CEO.

Sales of $6.3 billion increased 19% compared to the prior year on an as reported basis, and up 15% organically. GAAP net income from continuing operations was $574 million. Adjusted net income from continuing operations of $598 million increased 19% versus the prior year. Earnings before interest and taxes (EBIT) was $825 million and EBIT margin was 13.0%. Adjusted EBIT was $848 million and adjusted EBIT margin was 13.4%, an increase of 20 basis points versus prior year results.
Chemours Reports Strong Second Quarter Results

By Cision PRNewswire
Markets Insider

WILMINGTON, Del. -- The Chemours Company (Chemours), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions announced its financial results for the second quarter 2021.

Second Quarter 2021 Results

  • Net Sales of $1.7 billion, up 51% year-over-year
  • Net Income of $66 million with EPS of $0.39
  • Adjusted Net Income* of $205 million with Adjusted EPS* of $1.20, up $1.02 year-over-year
  • Adjusted EBITDA* of $366 million, up 120% year-over-year
  • Free cash flow of $189 million, an increase of $139 million year-over-year
  • On July 28, 2021, the company's Board of Directors approved a third quarter dividend of $0.25 per share, consistent with the prior quarter
Boeing Posts Surprise Second Quarter Profits

By Adam Levine-Weinberg, The Motley Fool

The dual crises of the 737 MAX grounding and the COVID-19 pandemic have weighed heavily on Boeing's business since early 2019. The aerospace giant posted big losses in 2019 and 2020 -- particularly last year -- and burned a stunning $24 billion of cash over the two years combined.

Boeing took a step in the right direction last quarter, reporting its first quarterly profit in nearly two years. That said, the company's unexpected return to profitability doesn't mean investors should expect smooth sailing.
Airbus Raises Outlook as Industry Steadies
In this June 18, 2015 file photo, an Airbus A380 takes off for its demonstration flight at the Paris Air Show in Le Bourget airport, north of Paris. European planemaker Airbus reports that it made 1.87 billion euros profit in the second quarter. That's a relief after a loss in the same quarter a year ago during the depths of the pandemic shutdowns and travel restrictions. (AP Photo/Francois Mori, File)

AP News

Frankfurt, Germany -- European plane maker Airbus posted 1.87 billion euros ($2.2 billion) net profit for the second quarter and raised its outlook for plane deliveries as the airlines sector steadied itself amid the devastating impact of the COVID-19 pandemic. This is compared to a loss of 1.44 billion euros in the same period last year, when the first major wave of pandemic restrictions disrupted travel and business.

During the first six months of this year, the company delivered 297 aircraft versus 196 last year. As air travel begins to return to more normal levels. Airbus now expects to deliver 600 aircraft in 2021, more than its earlier sales forecast of at least 566.
Raytheon’s Hayes: “The Second Quarter Was Much Better Than Anyone Expected"
Project manager Douglas Lentocha, looks inside the unit used to test jet engine compressors with Senator Richard Blumenthal, during the unveiling of the $40 dollar closed loop compressor facility on the Pratt and Whitney East Hartford campus, February 18, 2020, in East Hartford. (Jim Michaud/Journal Inquirer)

By Eric Bedner
Journal Inquirer

Operations at Pratt & Whitney in East Hartford and Collins Aerospace, which has major facilities in Windsor Locks, appear stable after parent company Raytheon Technologies Corp. reported higher than expected second-quarter profits.

“The second quarter was much, much better than anybody expected,” the chairman and chief executive officer of Raytheon, Greg Hayes, said during a conference call with investors.

Raytheon reported a net income of $1.03 billion for the quarter, due largely to defense contracts with the federal government and the resurgence of commercial air travel as more people get vaccinated against COVID-19, he said.
Meggitt Agrees to $8.8 Billion Takeover by Parker-Hannifin

By M. Corey Goldman

Parker-Hannifin agreed to buy U.K.-based Meggitt for £6.3 billion ($8.8 billion) in cash in a move that will give the aerospace motion-control systems maker more access to the rebounding global aerospace industry.

Parker-Hannifin said it has agreed to pay Meggitt shareholders 800 pence a share, a 71% premium to Meggitt’s July 30 closing price. At last check, shares of Meggitt were up 56% on the London Stock Exchange.
UK Government Could Intervene in Meggitt Takeover
Meggitt's equipment is found on F-35 fighter jets, helicopters and passenger aircraft

BBC News

The UK government has said it is "closely monitoring" the planned £6.3bn takeover of defense and aerospace firm Meggitt by a US company.

The statement by the Department for Business comes after Parker-Hannifin announced its 800p-a-share offer for Coventry-based Meggitt.

The government said it had powers to intervene in mergers and takeovers that raised national security concerns.
Hilcorp Files Plans to Restart Drilling in Prudhoe Bay Area
Hilcorp and fellow Prudhoe Bay owners ExxonMobil, ConocoPhillips and Chevron have agreed to restart drilling after more than a yearlong pause in response to the COVID-19 pandemic. (Loren Holmes / ADN archive)

By Elwood Brehmer, Alaska Journal of Commerce
Anchorage Daily News

Rigs will be likely drilling new wells again soon in one of the country’s largest oil fields if state regulators approve Hilcorp Energy’s amended annual work plans.

Representatives for Hilcorp North Slope LLC filed a proposed amendment to the company’s plan of development for the western satellite fields to Prudhoe Bay July 15 with the state Division of Oil and Gas indicating leaders of Hilcorp and the other Prudhoe owners have agreed to drill up to six wells in the Orion participating area by next spring.
Alyeska Pipeline Wins Wildlife Award

Petroleum News

On July 21, the U.S. Fish and Wildlife Service recognized Alyeska Pipeline Service Co. with an Outstanding Partner Award for contributions made by Alyeska to the conservation of natural resources in Alaska, where it operates the Trans-Alaska Pipeline System, or TAPS.

The award recognizes employees’ recent work with USFWS to update and implement wildlife protection guidelines for oil spills, and their continuing commitment to protecting wildlife during all Alyeska activities.
FAA – EASA Issue Inspection Guidelines on Lavatory Fire Bottles

Federal Aviation Administration

Subject: Inspection of Lavatory Fire Extinguishing Bottles on Aircraft Parked or Stored for a Prolonged Period of Time in a High-Temperature Environment.

Purpose: This SAFO serves to inform operators about the importance of inspecting lavatory fire extinguishing bottles as part of their return-to-service maintenance checks on aircraft that have been parked or stored for a prolonged period in a high-temperature environment (i.e. any environment where temperatures in the aircraft cabin are likely to reach levels that could trigger lavatory fire extinguishing bottles to discharge). This information applies to Title 14 of the Code of Federal Regulations (14 CFR) Part 91 K, Part 121, Part 125, and Part 135 operators.
EASA Lavatory Fire Bottle Guidelines

European Union Aviation Safety Agency

Purpose of these guidelines 

This document provides guidance for Continuing Airworthiness Management Organizations (CAMOs) and Approved Maintenance Organizations (AMOs) to support the Return to Service (RTS) of aircraft that have been parked/stored due to the extraordinary situation resulting from the COVID-19 pandemic. Combined Airworthiness Organizations, owners and Competent Authorities (CAs) are also recommended to consider these guidelines.

While the purpose of the guidelines is to maintain the level of safety of the aircraft during the RTS activity, these guidelines also highlight potential undesirable operational constraints and/or financial implications.
NRDC Presses EPA on HFC Regulations

By Alex Hillbrand

NRDC has urged the Environmental Protection Agency (EPA) to strengthen its new regulations to phase down hydrofluorocarbons (HFCs), the super-potent climate pollutants used as refrigerants, propellants, fire retardants, and other applications.

NRDC submitted public comments to the agency last week for proposed regulations setting up the framework to cap and reduce HFCs under the American Innovation and Manufacturing (AIM) Act, the HFC phasedown bill enacted late last year. The regulations determine our national HFC ‘baseline,’ formalize the AIM Act reduction schedule, establish HFC allowances, and set requirements for reporting and recordkeeping, market monitoring and enforcement, allowance transfers, and more.
Boeing 747 Engine Fire Forces Return to Hong Kong

By Catarina Madureira
Sam Chui Aviation & Travel

A United Parcel Service (UPS) Boeing 747-8 freighter returned to Hong Kong International airport, after an engine fire upon departure.

According to the AvHerald, the 1.4 year old aircraft, with registration N624UP and performing flight 5X003 from Hong Kong to Dubai (United Arab Emirates), was climbing out of runway 07R when the crew received an indication that one of the engines (GEnx) was exceeding its limits; this occurred during the initial climb (400 feet) and then at 1500 feet the engine fire warning sounded.
Jet Blue Flight Lands at Newark with Engine Fire
The JetBlue A321 unit is still sitting at Newark after 13 days since the incident. Photo: Getty Images

By Sumit Singh
Simple Flying

Earlier this month, a Jetblue Airbus A321-200 was seen partially on fire after landing at Newark Liberty International Airport. As a result, the situation is being investigated by the National Transportation Safety Board (NTSB).

On July 10th, registration N981JT landed at Newark’s runway 22R after flying in from San Francisco International Airport. However, unusually, a small fire could be spotted on the plane’s right engine cover during its roll out.
Premium Fire Protection (Canada) Sued Over Safety Codes Breach
Photo by Getty Images

By Kevin Martin
Calgary Herald

National grocer Loblaws Inc. has filed a lawsuit against Okotoks-Based Premium Fire Protection over allegations the Alberta company failed to provide adequate services, endangering its customers.

The Ontario-based company is seeking at least $100,000 in damages, plus a court order that Premium pay all its legal fees arising out of charges it now faces as a result of the fire suppression company’s work.
Fire Suppression Acoustic Shock (Not Fire) Took Down Australian Betting Site
Photo by Racing Victoria

By Peter Judge
Data Center Dynamics

A faulty air conditioning unit took down the Tab betting system in Australia, on the day of a major race last year, according to an accident report.

Tabcorp's services failed, on the day of the Melbourne Cup in November 2020, because an air conditioning fault in a Global Switch data center triggered a fire prevention system - which in turn created a shockwave that damaged Tabcorp's IT equipment.
Fire System Upgrade to HMS Belfast
July 2021

Fire Safety Search

HMS Belfast, the most significant surviving Royal Navy warship from the Second World War, has been equipped with leading fire protection from Advanced.

Permanently moored as a museum ship on the River Thames in London, the decommissioned Royal Navy warship, HMS Belfast is owned and operated by Imperial War Museum (IWM). As part of ongoing fire system upgrade works taking place across the Museum’s estate, an eight-loop and a two-loop MxPro 5 fire panel, along with a TouchControl touchscreen remote control terminal and repeater, have been installed across six of the battleship’s nine decks, as well as in its on-shore visitor pavilion.
Alderman: Marinette Letting JCI Off the Hook for PFAS Pollution
Firefighting foam is a common source of PFAS pollution. (Shutterstock)

By Christina Lieffring
Up North News

Doug Oitzinger argues the city has failed to hold JCI/Tyco, which is responsible for severe PFAS contamination in Marinette, accountable for the pollution.

Marinette Alderman Doug Oitzinger admitted that he was in a bad mood on Wednesday, July 21.

The Friday before, a special City Council meeting had posted and he learned -- for the first time -- that the city planned to move forward with an agreement that allowed Johnson Controls International (JCI)/Tyco to build a groundwater filtration system to remove PFAS (per- and polyfluoroalkyl substances) in his district on the public right-of-way.
Fire in Coal Storage Shuts Down Xcel Power Plant – Fire Burning Out of Control

By Logan Smith
4 CBS Denver

MORGAN COUNTY, Colo. -- Firefighting efforts have ceased at the Pawnee Power Plant where a fire in a coal storage facility has forced the evacuation of all non-essential personnel and closed nearby roads.

The power plant, located two and a half miles southeast of Brush, has been taken offline and is no longer producing energy, Morgan County Sheriff Dave Martin confirmed.
REACH (Europe) Proposals Could Hit HFCs and HFOs

Cooling Post

While Europe continues with the HFC refrigerant phase down, new proposals to be put before the Commission could see further restrictions or even bans on HFCs and HFOs.

On July 15, five European member states -- Germany, the Netherlands, Norway, Sweden and Denmark -- published their intention to submit a joint restriction proposal under the European REACH regulations for per- and polyfluorinated alkyl substances (PFAS) to the European Chemicals Agency (ECHA) by July 2022.
Summit Fire & Security Purchases Republic Fire Protection and Fire Ranger

Rapid expansion continues as Summit Fire & Security proudly enters new territory within the southeastern United States

MENDOTA HEIGHTS, MINNESOTA -- SFP Holding, Inc. (Summit Companies) announced that Summit Fire & Security LLC, a subsidiary of SFP Holding, has completed the purchase of Republic Fire Protection (“Republic”) in its largest strategic add-on acquisition to date. In addition to Republic, Summit Fire & Security also closed on the acquisition of Fire Ranger, based in Fort Lauderdale, Florida. With four offices located in Florida and Georgia, this acquisition officially plants the flag for Summit Fire & Security in the southeastern United States and is aligned with the subsidiary’s rapid expansion strategy.
North Haven Capital Acquires Interstate Fire Protection (ME)

By Business Wire
Yahoo! Finance

PORTLAND, Maine -- North Haven Capital (NHC), a private investment firm based in Portland, Maine announced that it has acquired New England-based Interstate Fire Protection (IFP). NHC teamed up with BankProv, a future-ready commercial bank that offers adaptive and technology-first banking solutions to emerging markets.
Pye-Barker Acquires Rapid Fire Protection (GA)
Pye-Barker Fire is proud to announce the acquisition of Rapid Fire Protection Group (RFPG).

By Pye-Barker Fire & Safety
Johnson City Press

ALPHARETTA, Ga. -- Pye-Barker Fire & Safety is proud to announce the acquisition of Rapid Fire Protection Group. Rapid Fire is an industry-leading, full-service fire suppression company with headquarters in Rapid City, South Dakota and additional branch locations in Wyoming, Colorado, Utah, and California. With this acquisition, Pye-Barker Fire further strengthens its presence in the Mountain States and enters new markets in South Dakota and California.
Fortis Fire Acquires LifeSafety Management (Florida)

By Fortis Fire & Safety
Cision PR Newswire

BOYNTON BEACH, Fla. -- Fortis Fire & Safety, one of the nation's newest fire protection service companies, has acquired LifeSafety Management headquartered in Boynton Beach, Florida. This acquisition follows the recent inaugural acquisition of VFS Fire & Security Services headquartered in Orange County, California.

"Fortis is excited to welcome the LSM team into the Fortis family as its first acquisition in Florida," said Tom Vining, Executive Chairman of Fortis. "LSM is a high-quality fire protection service company operating throughout South Florida and will provide us with a foothold to significantly grow our presence in Florida."
Safeguarding Historic Structures with Advanced Smoke Detection
Honeywell’s OSID-R beam detector system offers early warning in high, voluminous spaces without intrusive ceiling mounts. They can be installed in easy-to-access locations below the ceiling to accommodate and to conform to the features of the building.

By Del Williams
Facility Executive

Open-area Smoke Imaging Detection (OSID) offers early warning in high, voluminous spaces without intrusive ceiling mounts.

Landmarks aren’t spared the risks of and potential damage caused by fire. This means many of the world’s historic, cultural and architectural treasures – such as cathedrals, museums, and capitol buildings – are at risk of being damaged, forever lost to fire. Society must do all that it can to protect and preserve them.

When such structures are hundreds of years old and not designed with smoke detection or fire suppression in mind, that task can be challenging. The high ceilings and voluminous spaces in cathedrals and grand halls that inspire awe with their beauty, ironically, are the most difficult to protect with traditional smoke detection.
Cool Diffusion Flames Could Mean Clean Fuel of the Future
Credit: NASA

By Elizabeth Rayne

Things burst into flames all the time in space (supernova anyone?) but actually lighting something on fire in microgravity is a whole different phenomenon.

Spherical cool diffusion flames or “cool flames” are a new class of flame that recently appeared by accident in an experiment on the ISS. These flames only existed in theory before the past decade. Though they had been duplicated on Earth with much difficulty, this is the first time these ghosts of hot flames were actually seen burning gaseous fuels, which had never been achieved on terra firma or in space.
Watermist Systems: Why 3rd Party Testing is Essential

IFSEC Global

Jade Musto, Head of Suppression System Testing at the Fire Protection Association (FPA), provides some clarity on the benefits of water mist systems and explains why it is crucial that those being specified and installed by fire safety professionals are third-party certified.

Water mist systems can play a critical role in preventing the spread of fire and are highly effective if used correctly. As the name suggests, the systems work by spraying small droplets of water, which is done at relatively high pressure. These systems work by lowering the temperature and reducing the oxygen concentration to the extent that combustion can no longer be maintained, and the flame is extinguished.

When it comes to maximum effectiveness it is important that they are designed with the exact environment in mind and are tested prior to installation. For building owners and those responsible for fire safety within a building, seeking third-party testing is a critical step in ensuring the proper and safe use of water mist systems.
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