Pall Corporation has entered into a research collaboration with the King Abdullah University of Science and Technology (KAUST) in Saudi Arabia. This integration is a part of KAUST Industry Collaboration Program (KICP). As per the terms of the contract Pall will take part in this joint research program in the areas of filtration, separation and purification technologies.
KICP is a membership based program which engages key industry participants in the regions of Saudi Arabia. This in turn maximizes the effectiveness of such research programs. This approach is mainly targeted towards developing further studies in water treatment and alternative fuels along with other crucially important areas for the communities of Middle East.
During the last four years, Pall has almost doubled its sales in this region. This step portrays management’s further optimism and dedication with this geographic segment’s rising market demand for industrial goods and utilities. The project will form a part of Pall’s Industrial segment, for which the sales were low by 2.2% year over year.
Pall is a market leader with its exceptional purification technologies. And currently it intends and plans to go further with its multiple research collaborations around the world. Recently it extended its research agreement with Lewis university for the second year in succession to broaden the scope of study.
In the last quarter PLL missed the Zacks Earnings Estimates by 2.37%, while Calgon Carbon Corporation (CCC - Free Report) and CECO Environmental Corp. (CECE - Free Report) performed better, reporting earnings in line with estimates. In such a scenario, in the absence of general business expansion, competitive advantages can only be gained by supplying new products or processes.
These in turn are likely to emerge from research laboratories. In this regard it is to be noted that in the last six months Pall’s Research and Development expenses went up by 16% year over year.