Rockwell Automation Inc.
) has received a $6.7 million order from a South Korean
shipbuilder, Daewoo Shipbuilding & Marine Engineering (DSME).
Per the deal, Rockwell will deliver control and safety equipment
to the offshore industry.
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Rockwell will deliver fully integrated safety solutions for an
important DSME customer, Transocean, a leading international
provider of offshore contract drilling services for energy
The contract includes the delivery of Rockwell's portfolio of
offshore solutions and a proven, robust system to four new
Transocean drill ships, alongwith an option for six more ships.
It follows the order (worth over $6 million) from DSME for four
new offshore drillships in 2011.
Rockwell will employ its large project delivery management
expertise to provide its PlantPAx control power and safety
solution together with the AADvance process safety system. With
the help of these systems the company will be able to deliver
control and safety solutions for Transocean's offshore vessels
and drilling rigs.
The deliveries are scheduled for early 2014. Key solutions for
the first vessel are scheduled for completion by Jun 2014, while
the additional three vessels will be completed by Oct 2015.
Rockwell Automation, which belongs to the industrial automation
industry along with
HollySys Automation Technologies, Ltd.
), reported third-quarter fiscal 2013 adjusted earnings of $1.54
per share, up 12% year over year. The results beat the Zacks
Consensus Estimate of $1.40.
The company revised its sales guidance for fiscal 2013 to $6.3
billion from the previous view of $6.25-$6.45 billion,
representing organic growth of around 1%. The outlook for
earnings per share was also tweaked to $5.50-$5.70 from
Rockwell Automation will likely benefit from its expansion in the
emerging markets. Investment in Logix, recent acquisition of
China-based medium voltage drives business and restructuring
activities could drive growth. However, uncertainty in the global
economic scenario remains a headwind.
Milwaukee, Wis.-based Rockwell Automation is an original
equipment manufacturer of industrial automation equipment,
application specific integrated software and consulting design
services. The company is a leading global provider of industrial
automation power, control, and information solutions.
Rockwell Automation currently retains a short-term Zacks Rank #3