NPE: The Plastic’s Show 2024 debuts never-before-seen show features
The Plastics Industry Association (PLASTICS)has announced brand-new features ahead of its upcoming trade show, NPE: The Plastics Show, taking place from May 6-10, 2024, at the Orange County Convention Center in Orlando, Fla. NPE2024 is shaping the future of the plastics industry with the inclusion of new educational offerings such as keynote speakers and industry briefings, highlighting the Open Platform Communications Unified Architecture (OPC UA), and offering spaces designed for innovation and connection through Podcast Point and the Sustainability Hub. The addition of these new elements addresses the changing industry landscape and will empower plastics businesses to innovate, compete and succeed in today’s dynamic market. They will also provide every player in the industry with the knowledge and resources to thrive. “The plastics industry is evolving and everyone at NPE will be at the forefront of that change – guiding and leading it. These brand-new features like the keynotes, the Sustainability Hub and industry-specific briefings demonstrate our continued commitment to grow and strengthen the future of our industry,” said Matt Seaholm, PLASTICS President and CEO. Some of the new features debuting at NPE2024 are: Keynote Speakers: Open to all attendees, NPE will have keynote speakers whose expertise will shape the future landscape of the plastics industry. Micheal Cicco, President and CEO at FANUC America Corporation and Michael Heinz, Chair and CEO at BASF Corporation, have been confirmed as the two keynote speakers. On Monday, Cicco’s session, titled “Unlocking the Potential: Robotics, AI and Automation in the New Tech Era”, will address how robotics and automation advancements are revolutionizing the industry and explore the exciting future of human-machine collaboration. On Wednesday, Heinz’s session, titled, “Our Plastics Journey: The Road to Shaping a Sustainable Future”, will highlight industry challenges, the importance of collaboration with legislators and NGOs and provide inspiration for the future. Focused Industry Briefings: The reimagined education experience at NPE features the first-ever industry briefings, in which plastics thought leaders from the top attendee fields – automotive, building and construction, consumer goods, medical and packaging – will speak to emerging trends and technologies in their areas. Plastics industry briefings will also include market trends, future recycling forecasts and a review of the Global Plastics Treaty. OPC UA: The machine-to-machine data exchange will be demonstrated live for all NPE attendees to experience in several exhibitor booths – including Arburg, Plasmatreat, Sumitomo Demag and more. Participants can dive into Industry 4.0 and witness how OPC UA can reduce costs, increase data security and streamline manufacturing operations. Podcast Point: Designed to elevate media resources, this space gives podcasters a chance to share the excitement, learnings and solutions of NPE live from the event. Podcasts like PMM Insight, Sustainable Packaging, MMT Chats and PlastChicks will be streaming before, during and after the show, keeping the public up to date with everything happening at NPE. 3 Spark Stages: NPE’s Spark Stages – Bottling, Sustainability and Innovation – are open to all attendees and offer 30-minute educational sessions on the show floor. These sessions cover critical topics in the plastics industry, from advancements in bottling to the latest innovations in sustainability. With sessions on everything from Industry 4.0 to thermoplastic processing, there are insights for everyone in the plastics industry. Sustainability Hub: This interactive showcase tangibly illustrates the plastics circular economy and allows attendees to follow the environmental journey of plastics and the steps the industry is taking to reduce plastic waste and improve its sustainable footprint. The space will feature recycled materials, sustainable and advanced manufacturing, circularity processes, prevention and recovery efforts and more. NPE happens only once every three years, gathering the entire global plastics industry in the U.S. to share new products and insights. “With these new innovative features, NPE2024 promises to be an unparalleled event for the plastics industry, fostering collaboration, knowledge sharing, and ultimately, a bright future for all participants and the plastics industry as a whole,” said Arlene Davis, NPE Director of Content and Attendee Experiences.
ProMach’s ID technology acquires Etiflex
ProMach has announced that it has acquired Etiflex. The addition of Etiflex further expands ProMach’s labeling and coding capabilities throughout North America and represents the company’s first acquisition in the Mexican market. Founded in 1981 in Mexico City, Etiflex is one of the leading converters in Mexico for variable information-printed labels, tickets, and RFID labeling. The company has an extensive portfolio of label-converting solutions that serve a broad range of industries, including food & beverage, textile, automotive, personal care, cosmetics, pharmaceutical, and retail & logistics. Additionally, Etiflex produces tickets, badges, and bracelets for events and transportation. “We are pleased to welcome the Etiflex team to ProMach,” said Mark Anderson, ProMach President and CEO. “Their addition to our business continues the expansion of our label converting capabilities, and it significantly extends our ability to offer a complete portfolio of labeling equipment solutions beyond our existing markets in the United States and Canada.” Anderson continued by saying “This acquisition truly supports our commitment to provide best-in-class labeling and coding solutions and support from a partner that is geographically close to our customers, wherever they are located throughout North America.” Based in Mexico City, Mexico, Etiflex and its team of more than 500 employees will join ProMach’s Labeling & Coding business line led by Group President Alan Shipman. With go-to-market product brands that also include ID Technology, EPI, Panther, Code Tech, and Greydon, ProMach’s Labeling & Coding business line provides broad solution offerings to customers throughout North America. The company’s vertically integrated product portfolio includes both labels and machinery, which are supported by an extensive network that includes seventeen regional sales and service offices, as well as eight existing label-converting facilities. The company’s label-converting facilities provide decorative labels for both high volumes or short runs via flexographic and digital capabilities, blank and shell labels, RFID labels, specialty labels, and more. “The addition of Etiflex to our Labeling & Coding business line continues to underscore the true differentiation of our business by providing exceptional label products and support to our customers, in addition to our labeling equipment,” said Mr. Shipman. “Etiflex brings a trusted industry reputation for providing exceptional quality products, and their geographic footprint will provide tremendous benefits to our current and future customer base in Mexico. With this expansion of our growing label production capabilities and reach, we continue to deliver high quality labels to customers faster, because we’re closer. This means real bottom line benefits for them due to shorter shipping distances – especially for our multinational customers,” Shipman added. Sergio Shor and Ari Vonderwalde, Co-Director Generals of Etiflex, will continue leading the Etiflex team. Shor will serve as VP and General Manager, and Vonderwalde will assume the role of VP of Operations. “Joining ProMach’s Labeling & Coding group is an exciting opportunity to continue and expand the original vision that has guided us for over 40 years”, said Shor and Vonderwalde. “Our philosophy has always been rooted in being a true business partner with strong employee connections and development. We are also proud of our long-standing relationships with our customers and suppliers, and this opportunity will reinforce that effort,” they offered. “ProMach has a proven track record of success and a reputation of investing in its companies to leverage everyone’s strengths, offer more complete solutions, and better serve its customers.” “We are very grateful for all of the support, passion, and dedication the entire Etiflex team has delivered over the past 43 years that took us to this exciting and promising moment,” Shor and Vonderwalde added.
Vertical Cold Storage surges to sixth largest cold storage provider in North America
Latest rankings from GCCA also list company as 12th largest globally Vertical Cold Storage, a developer and operator of temperature-controlled distribution centers sponsored by real estate investment firm Platform Ventures, moved from 15th to sixth on the Global Cold Chain Alliance’s (GCCA) North American Top 25 List of Refrigerated Warehousing and Logistics Providers. The company now has more than 77 million cubic feet of capacity in nine locations and employs more than 400 full-time team members. In the past 12 months, Vertical Cold acquired MWCold in Indiana, purchased a second facility in the Dallas-Fort Worth market, and is currently finishing the construction of its first distribution center in the Kansas City market. “It’s been a great year for Vertical Cold, with expansion in new and existing markets. More importantly, it’s been a great year for our customers, for whom we continue to help drive supply chain value, and for our team members, who are committed to servicing our customers safely and efficiently,” said West Hutchison, President and CEO of Vertical Cold Storage. “Our growth platform is strong. There will be continued growth through acquisition, expansion, and development in pursuit of our goal to have a national network that embraces the complexities of our customers, which many of our competitors avoid or price their way out of.”
Nucor Warehouse Systems hosts Open House in Houston
Nucor Warehouse Systems (NWS) has opened its doors to its Texas location at its Houston open house on Friday, April 26th. This event will be an extension of the company to fellow industry members and the community at large featuring mill tours, an opportunity to connect with the NWS team, and on-site activities in store for attendees. NWS welcomes the opportunity to discuss the future of warehousing in the broader market in Texas and is seeking to strengthen relationships with its distribution network. This event will serve as an opportunity for the company to show gratitude towards peers and members of the Houston community and highlight the dependability of Nucor steel in combination with the wealth of resources the company offers. they are a trusted partner and rack provider for businesses of all sizes. With its strategic location in Texas, the company can serve local distributors as a trusted partner and rack provider for any warehouse. “We’re excited for the chance to reconnect and build on relationships with our material handling network in Texas,” said Jonathan Miles, sales manager at Nucor Warehouse Systems, Monroe. “It’s important to us as a company to support our local economy and businesses. These are the kind of projects that make a big impact so it’s a priority for us to show our appreciation and recognition to these potential collaborators.”
Episode 480: The future of safety in warehousing with Powerfleet
The latest episode of The New Warehouse Podcast, featuring Scott Walker, Vice President of Supply Chain Product Management at Powerfleet. Powerfleet, a leader in the Artificial Intelligence of Things (AIoT) space and a finalist in the Artificial Intelligence Excellence Awards program, focuses on bringing people-powered safety technologies and solutions to the material handling industry. In today’s episode, we explore Powerfleet’s innovative pedestrian proximity detection solution, designed to enhance safety in warehousing environments by integrating advanced AI capabilities. Join us as we delve into how this technology is set to revolutionize industry practices and ensure safer operational environments. Innovating Safety in Warehousing Through AIoT Scott describes the essence of Powerfleet’s approach as “people-powered AIoT,” emphasizing the integration of human insights with automated systems to enhance decision-making processes. He states, “It’s about moving beyond data collection to making proactive safety decisions.” This concept transforms warehouse safety using AI to predict and prevent potential incidents, thus significantly reducing workplace hazards and improving efficiency. Overcoming Safety Challenges with Smart Technology According to Scott, “The goal is not just to track incidents but to prevent them from happening in the first place.” Powerfleet addresses this by deploying AI-driven pedestrian proximity detection systems that analyze environmental data to foresee and alert on potential safety threats. This proactive approach not only mitigates risk but also enhances the overall safety culture within logistics operations, showcasing significant improvements in incident prevention and response times. Predictive and Preventive Innovations in Warehouse Safety Looking ahead, Scott is optimistic about the role of AI in safety technology, particularly in how predictive analytics can integrate with operational systems to forecast potential issues before they arise. He mentions, “The integration of AI allows us to be predictive, not just reactive.” This shift is expected to transform safety measures in warehousing by enabling more informed and timely decision-making, ultimately leading to more robust safety protocols and reduced risk of accidents. Key Takeaways Powerfleet is leveraging AIoT to enhance safety and operational efficiency in warehouses. The new pedestrian proximity detection solution predicts potential safety threats, improving response strategies. Future innovations focus on predictive analytics to preemptively address safety concerns, integrating data with practical operations. The New Warehouse Podcast Episode 480: Enhancing Efficiency and Safety in Warehousing
The Logistics World Summit & Expo 2024-BSL Battery debuts Top Lithium Battery Product
China Huizhou, BSL Battery-Industrial a provider in designing and manufacturing smart lithium-ion batteries (up to 50% more efficient than its peers in the market) for industrial forklifts used in the storage and distribution industries, exhibited at its first participation at the 2024 The Logistics World Summit & Expo, April 10-11, 2024 in Centro Citibanamex, Mexico. With a rich manufacturing history of more than 10 years, BSL Battery-Industrial has become a trusted manufacturer of lithium battery solutions for material handling. With significant investment, lean manufacturing capabilities, seamless supply chain integration, and a 180-year professionally designed technical team in the lithium battery industry, BSL Battery-Industrial is fully capable of providing high-quality products and the best-tailored lithium battery solutions to forklift manufacturers, forklift dealers, and battery dealers. Exhibiting for the first time at The Logistics World Summit & Expo, BSL Battery-Industrial was bustling and attracted a lot of visitors, including friends from all over the Americas. The company representatives had in-depth discussions with the participants, exchanged views on the industry trends, and demonstrated BSL Battery-Industrial’s firm determination to enter the North American market and achieve excellent results. The future is very exciting In the highly anticipated process, our new third-generation forklift lithium battery was finally lit up at 10:00 am on April 10th, which was warmly welcomed and highly praised by our customers! BSL Battery-Industrial Chief Technology Officer Mr.Lin Peng said, “This third-generation forklift lithium battery is a leading product in the material handling industry. Using a UL2580-certified BSL lithium battery module and a proprietary cloud-based BMS ™ remote information processing and asset management system independently developed by BSL. Outstanding performance in food and beverage, third-party logistics (3 PL), warehousing and manufacturing, and other industries, easily meeting customer needs. Medium to large fleets with fleet management systems will notify you before the problem occurs. View battery performance, monitor fleet activity generate real-time metrics, optimize performance, and save energy. In addition to the above products, we have also demonstrated a variety of lithium battery products used in AGV, GSE, aerial work platforms, and golf carts. It is worth noting that we have deployed about 12,000 batteries throughout North America and provided China’s first UL2580-certified lithium-ion battery pack for material handling equipment. BSL Battery-Industrial, AMER Area Manager, Bebinca Wu, said: “The Logistics World Summit & Expo is a key stage for us that not only strengthens our foothold in the Americas but also introduces novel products to our respected product portfolio, demonstrating our commitment to providing excellent quality, superior service and strong support to our customers in the Americas. Missed us at The Logistics World Summit & Expo 2024? Reach out today! If you didn’t attend The Logistics World Summit & Expo 2024, explore BSL Battery-Industrial’s 3.0 lithium battery solution. Don’t worry, our commitment to 3.0 lithium battery product samples and cost reduction continued after the event. Whether you are still hesitant about lithium-ion batteries or want to bring the advantages of proprietary cloud-based BMS ™ telematics and asset management systems into your operations, our energy experts will answer your questions here! Although you may have missed the opportunity to visit our Logistics World Summit & Expo, you can still contact us by virtual means. BSL Battery-Industrial is committed to providing customers with the best lithium battery solutions and building mutually beneficial partnerships worldwide. Over the past 10 years, BSL Battery-Industrial has gained good recognition in many markets, including China, ASEAN, Australia, South Asia, the Middle East, the Americas, and Europe. To better serve local customers, BSL Battery-Industrial is actively seeking local dealers and partners to enhance its competitiveness in these areas.
Terex reports strong First Quarter 2024 results; raises full-year outlook
Sales of $1.3 billion increased 5% year-over-year Income from operations of $158 million, up 7% year-over-year Operating profit margin of 12.2% improved 20 bps year-over-year Earnings per share of $1.60 Return on invested capital of 27.6%, up 370 bps from the prior year Raising full-year 2024 EPS outlook to a range of $6.95 to $7.35 Increasing full-year 2024 sales outlook to a range of $5.2 to $5.4 billion Terex Corporation, a global manufacturer of materials processing machinery and aerial work platforms, today announced its results for the first quarter 2024. “Terex delivered excellent first quarter results, achieving sales growth and margin expansion versus the prior year,” said Simon Meester, Terex President and Chief Executive Officer. “The Terex team continues to perform at a high level and demonstrate the power of its focused strategy and its proven ability to create value.” “We are raising our full-year outlook to reflect our strong first quarter performance, while also prudently planning for continued softness in Europe over the balance of the year.” Meester continued, “Overall, customer demand remains strong for Terex’s differentiated products as evidenced by our robust backlog. In addition, we are advancing our new product initiatives to bolster the Company’s portfolio of market-leading businesses that will continue to benefit from megatrends over the coming years. We are focused on accelerating our profitable growth strategy and are committed to delivering strong performance through the cycle.” First Quarter Operational and Financial Highlights Net sales of $1.3 billion increased 4.6%, up from $1.2 billion in the first quarter of 2023. The increase was primarily driven by continued demand for our products across multiple businesses. Income from operations of $158.3 million, or 12.2% of net sales improved from $147.7 million, or 12.0% of net sales during the prior year. The year-over-year increase of $10.6 million was primarily due to incremental profit achieved on higher sales volume, improved manufacturing throughput and disciplined price-cost management. Income from continuing operations was $108.5 million, or $1.60 per share, compared to $109.9 million, or $1.60 per share, in the first quarter of 2023. Return on invested capital was 27.6%, up 370 bps from the prior year and significantly exceeded our cost of capital. Business Segment Review Materials Processing Net sales of $520.0 million were down 6.1% or $33.8 million year-over-year, primarily driven by lower end-market demand for material handling equipment and cranes in Europe, partially offset by growth for aggregates in North America. Income from operations decreased to $72.1 million or 13.9% of net sales, compared to $85.3 million, or 15.4% of net sales, in the prior year. The decrease was primarily due to the impact of lower sales volume and net unfavorable product mix. Aerial Work Platforms Net sales of $772.7 million were up 12.7% or $86.8 million year-over-year. The increase was primarily driven by higher demand, as well as improved supply chain and manufacturing performance. Income from operations increased to $107.3 million or 13.9% of net sales, compared to $83.1 million, or 12.1% of net sales in the prior year. The increase was primarily due to incremental profit achieved on higher sales volume, improved manufacturing throughput and disciplined price-cost management. Strong Balance Sheet and Liquidity As of March 31, 2024, the Company had liquidity (cash and availability under our revolving line of credit) of $866 million and net leverage of 0.5x. Terex deployed $35 million for capital expenditures during the first quarter of 2024 to support business growth. CFO Commentary Julie Beck, Senior Vice President and Chief Financial Officer, said “We expanded total company operating margin by 20 bps compared to last year and delivered ROIC of more than 27%. We expect a significant step-up in free cash flow over the balance of the year and remain on-track to generate more than $300 million of free cash flow for a second consecutive year. The strength of our balance sheet and expected cash flow provide significant capacity to fuel our strategic growth initiatives and return capital to shareholders.” Full-Year 2024 Outlook (in millions, except per share data) Terex Outlook (1) PREVIOUS Outlook UPDATED Outlook Net Sales $5,100 – $5,300 $5,200 – $5,400 Operating Margin 12.8% – 13.1% 12.8% – 13.1% Interest / Other Expense ~$60 ~$65 Tax Rate ~22% ~22% EPS $6.85 – $7.25 $6.95 – $7.35 Share Count ~68 ~68 Depreciation / Amortization ~$65 ~$65 Free Cash Flow (2) $325 – $375 $325 – $375 Corp & Other OP ~($80) ~($85) Segment Outlook (1) PREVIOUS Outlook UPDATED Outlook Net Sales Operating Margin Net Sales Operating Margin Materials Processing $2,200 – $2,300 15.6% – 15.9% $2,200 – $2,300 15.6% – 15.9% Aerial Work Platforms $2,900 – $3,000 13.4% – 13.7% $3,000 – $3,100 13.5% – 13.8% (1) Excludes the impact of future acquisitions, divestitures, restructuring and other unusual items (2) Capital expenditures, net of proceeds from sale of capital assets: ~$145 million Non-GAAP Measures and Other Items
Carolina Handling wins Kautex Safety Award for AGV implementation
Carolina Handling has received the 2023 Health & Safety Award for Excellence from Kautex, A Textron Company, a Tier One automotive supplier with more than 30 manufacturing facilities in 13 countries. The award was received for an Automated Guided Vehicle (AGV) project at the company’s facility in Lavonia, Georgia, and recognizes Carolina Handling as a top-performing supplier. The courier implementation was one of the smoothest among any of Kautex Textron’s equipment distributors worldwide, according to the company, which operates AGVs at most of its facilities around the globe. Carolina Handling is one of the Southeast’s leading integrated material handling solutions providers and the exclusive Raymond Solutions and Support Center for North Carolina, South Carolina, Georgia, Alabama, and Florida’s Central time zone. The company provides a full range of lift trucks and automation solutions for manufacturers, warehouses, and distribution centers, along with parts, warehouse equipment and supplies. A Tier One global automotive supplier, Kautex Textron designs, develops, and manufactures traditional and hybrid fuel systems, advanced cleaning solutions for assisted and autonomous driving, engine camshafts, and plastic industrial packaging solutions.
COVAL launches the new generation of Multi-stage Mini Vacuum Pumps: The CMS M Series
The mini pump with max performance! The CMS M series, the latest addition to COVAL‘s range of multistage vacuum pumps has been designed and developed with two guiding objectives: compactness and performance. It offers an optimum solution for industrial applications which require high suction flow rates. Enhanced performance and robustness CMS M multi-stage mini vacuum pumps are the product of COVAL’s advanced research, seeking to provide a powerful, durable solution for handling porous parts, emptying tanks, or random gripping in harsh industrial environments. Thanks to their ultra-compact design and optimized multi-stage Venturi system, these pumps guarantee powerful suction flows of up to 19.42 SCFM, while reducing compressed air consumption in a compact footprint. Modularity and ease of maintenance An outstanding feature of the CMS M series is its modularity, making it easy to adapt to a variety of applications and simple to maintain. These mini pumps also offer two exhaust configurations to perfectly match each specific need, available in two suction capacities (10.59 SCFM to 19.42 SCFM) and with or without vacuum and blow-off control. Advanced multi-stage technology for maximum efficiency COVAL’s multi-stage technology maximizes the energy input of compressed air by cascading several stages of Venturi profiles and combining their respective suction flows. Intermediate valves progressively isolate each stage to achieve maximum vacuum level. This technology makes it possible to generate high suction flow at low vacuum levels. This innovation reflects COVAL’s commitment to providing efficient, energy-saving solutions for the industry. A trusted technology partner An ISO 9001:V2015 certified company, based in the South of France, COVAL continuously innovates in vacuum handling. The company is recognized worldwide for its expertise in developing customized, reliable, and efficient solutions that improve the safety and productivity of industrial processes.
Toyota’s 80V Electric Pneumatic Forklift earns 2023 GOOD DESIGN Award
Toyota Material Handling receives the 2023 GOOD DESIGN Award as a testament to the engineering and design quality of the innovative, European-designed and built 80V Electric Pneumatic Forklift Toyota Material Handling’s innovative 80V Electric Pneumatic Forklift – designed and built in Europe – was named a 2023 GOOD DESIGN® Award recipient, giving testament to the product’s world-class engineering, aesthetics, durability, and performance. This model and the rest of Toyota’s advanced lineup of industry-leading forklifts reflect Toyota’s commitment to prioritizing customer needs, in alignment with the organization’s culture of Kaizen – or continuous improvement. “The Good Design Award not only expands awareness in the design community, but it also highlights the attention to quality, usability, aesthetics, and ergonomics in Toyota products around the world,” said Greg Smiley, Toyota Material Handling North America’s Head of Design. Recognition for this award-winning product is prompted by its unique and innovative features. The multifunction display system helps enhance efficiency by notifying the operator of battery capacity and operating time warnings while facilitating rapid diagnostics to prevent unplanned downtime. Toyota’s innovative System of Active Stability (SAS)™ engages instantly to stabilize the rear axle if the system senses the forklift is in a situation that could lead to instability. The forklift also provides ample comfort for operators with its full-floating cabin and full-suspension seat that helps minimize shock and vibration. Toyota’s Operator Presence Sensing System and the optional seatbelt interlock encourage operators to remain properly seated with the seatbelt buckled. Additionally, the cockpit-style operator compartment allows operators a clear line of sight and minimizes fatigue with its memory-tilt-steering technology, mini-lever controls, an armrest, and a low-height dashboard. The electric forklift is strategically engineered in alignment with Toyota’s sustainability initiative. With load capacities ranging from 4,000 to 17,500 pounds, the battery-powered forklift increases efficiency by combining the power and durability of non-electric models with its top-of-the-line AC drive motors, allowing operators a reliable material handling solution for indoor and outdoor environments. In addition, the forklift offers standard speed control and performance modes to allow operators to select power consumption, acceleration and regenerative braking. This contributes to maximized efficiency, performance and operating time. The 80V Electric Pneumatic also extends outdoor lifespan through preventative technology that limits water intrusion and corrosion. Learn more about Toyota Material Handling’s innovative material handling solutions at ToyotaForklift.com.
KION Group starts solid with increases in revenue and earnings
Revenue up by 2.8 percent to € 2.859 billion (Q1 2023: € 2.781 billion) Adj. EBIT improves to € 226.7 million (Q1 2023: € 156.0 million) Adj. EBIT margin of 7.9 percent (Q1 2023: 5.6 percent) Positive free cash flow of € 65.7 million (Q1 2023: € 104.9 million) Full-year 2024 outlook confirmed The KION Group started the financial year 2024 with revenue growth and improved profitability. The adjusted EBIT margin of 7.9 percent came in 2.3 percentage points higher year-on-year, with significant improvements in both operating segments. “KION Group had a solid start in 2024 substantially improving profitability at the Group level and in both segments in the first quarter,” says Rob Smith, CEO of KION GROUP AG. “Achieving the second-best quarterly adjusted EBIT on the KION Group level lays a strong foundation to deliver our full-year guidance.” Group revenue in the first quarter of 2024 grew by 2.8 percent to € 2.859 billion year-on-year (Q1 2023: € 2.781 billion). In the Industrial Trucks & Services segment, revenue increased by 7.4 percent to € 2.153 billion (Q1 2023: € 2.005 billion), mainly due to the positive geographic and product mix as well as higher production output and sales prices. The service business also grew. Revenue in the Supply Chain Solutions segment declined by 8.1 percent to € 718.9 million (Q1 2023: € 782.5 million) due to the lower project business order intake of the previous quarters. The Supply Chain Solutions segment benefited from increased demand from pure e-commerce providers, general merchandise, and food retailers, but order intake in the project business remained subdued in the first three months impacted by customers’ hesitancy to sign new contracts due to macroeconomic uncertainties. In addition, the order book contains a higher proportion of long-term projects, whose revenue realization will extend over a longer period. Service business achieved a significant increase in revenue in the reporting period. Adjusted EBIT at the Group level increased significantly to € 226.7 million (Q1 2023: € 156.0 million). The adjusted EBIT margin improved accordingly to 7.9 percent (Q1 2023: 5.6 percent). The Industrial Trucks & Services segment continued its positive development of the previous quarters and achieved a double-digit adjusted EBIT margin of 11.1 percent (Q1 2023: 8.8 percent) with an adjusted EBIT of € 239.7 million (Q1 2023: € 176.6 million). This was mainly due to the continued stability of material purchase prices, increased productivity as a result of improved material availability and revenue growth. In the Supply Chain Solutions segment, the adjusted EBIT margin increased to 2.6 percent (Q1 2023: 0.9 percent) with an adjusted EBIT of € 18.4 million (Q1 2023: € 7.1 million). Service business growth, improved project execution and the efficiency measures implemented contributed to the improvement in earnings and margins. At € 111.0 million, consolidated net income in the first quarter of 2024 was significantly higher year-on-year (Q1 2023: € 73.5 million). Free cash flow amounted to € 65.7 million (Q1 2023: € 104.9 million). KION Group Figures for the First Quarter 2024 in million € Q1/2024 Q1/2023 Diff. Revenue Industrial Trucks & Services Supply Chain Solutions 2,859 2,153 719 2,781 2,005 783 2.8% 7.4% -8.1% Adjusted EBIT [1] Industrial Trucks & Services Supply Chain Solutions 226.7 240 18 156.0 177 7 45.4% 35.7% > 100% Adjusted EBIT margin [1] Industrial Trucks & Services Supply Chain Solutions 7.9% 11.1% 2.6% 5.6% 8.8% 0.9% – – – Net income 111.0 73.5 50.9% Basic earnings per share (in €) [2] 0.83 0.55 50.9% Free cash flow [3] 65.7 104.9 -39.2 Order Intake [4] Industrial Trucks & Services Supply Chain Solutions 2,439 1,804 642 2,401 1,957 454 38 -152 187 Orderbook [4] Industrial Trucks & Services Supply Chain Solutions 5,588 2,877 2,778 6,045 3,197 2,921 -458 -320 -142 Employees [5] 42,566 42,325 241 [1] Adjusted for effects of purchase price allocations as well as non-recurring items. [2] Net income attributable to shareholders of KION GROUP AG: € 108.8 million (Q1/2023: € 72.1 million). EPS calculation is based on average number of shares of 131.1 million. [3] Free cash flow is defined as cash flow from ongoing business plus cash flow from investment activity. [4] Figures as of March 31, 2024, compared to balance sheet date Dec. 31, 2023. Prior-year figures for order intake and order book have been definition-related adjusted in the SCS segment. [5] Number of full-time equivalents incl. apprentices and trainees as of March 31, 2024, compared to balance sheet date Dec. 31, 2023. Outlook confirmed Due to the results in the first quarter of 2024, KION GROUP AG confirms the outlook published on February 29, 2024. Outlook 2024 KION Group Industrial Trucks & Services Supply Chain Solutions in million € 2023 Outlook 2024 2023 Outlook 2024 2023 Outlook 2024 Revenue1 11,433.7 11,200 – 12,000 8,479.6 8,500 – 9,000 2,997.0 2,700 – 3,000 Adjusted EBIT1 790.5 790 – 940 848.5 850 – 950 44.3 60 – 120 Free Cash Flow 715.2 550 – 670 – – – – ROCE 7.7% 7.4% – 8.8% – – – – 1 Disclosures for the Industrial Trucks & Services and Supply Chain Solutions segments also include intra-group cross-segment revenue and effects on EBIT.
National Safety Stand-Down to prevent falls is May 6-10
The American Society of Safety Professionals (ASSP) encourages safety professionals and employers to raise awareness and participate in the 11th annual National Safety Stand-Down to Prevent Falls in Construction on May 6-10. The observance is part of a year-round campaign led by the Occupational Safety and Health Administration (OSHA). Falls from height are the leading cause of death for construction workers, with more than 350 fatalities and 20,000 serious injuries occurring each year, according to the U.S. Bureau of Labor Statistics. Workers face risks on roofs, above floor openings and even at lower levels. “No matter the job, worker injuries and fatalities are preventable,” said fall protection expert Thom Kramer, P.E., CSP, vice president of finance on ASSP’s Board of Directors. “Companies can create safe environments by using prevention through design principles, providing the right equipment and training everyone involved. It’s also a great idea to implement a fall protection program that follows our recently updated Z359.2 consensus standard.” Construction companies can recognize the stand-down that week by briefly stopping work and giving a toolbox talk; performing a safety equipment inspection; conducting a rescue planning exercise; or discussing job-specific hazards. It’s important that all workers be outfitted with proper-fitting personal protective equipment (PPE). ASSP encourages the use of #StandDown4Safety in social media to share stories and recommendations during the weeklong observance, which coincides with National Construction Safety Week. It has helped train more than 10 million workers on fall prevention since its inception in 2014. Organizations of all sizes have participated over the years, including the U.S. military, highway construction companies, and residential contractors. OSHA offers several resources for conducting a safety stand-down, including infographics and articles about construction risks and fall protection; publications about ladder safety; fall protection videos; and hardhat stickers and hazard alert cards. Materials on working safely at height are available in English and Español. “Safety and health professionals should encourage their organizations to take an active role in the stand-down,” Kramer said. “And sharing how your company is participating may inspire others to get involved.” OSHA’s many partners in the stand-down include ASSP, the National Institute for Occupational Safety and Health (NIOSH), the National Occupational Research Agenda (NORA), the Center for Construction Research and Training (CPWR), and the National Safety Council.
AMPURE appoints John Thomas as Global Head of EVSE Sales
EV Industry veteran brings extensive experience in accelerating growth AMPURE, formerly Webasto Charging Systems, appoints John Thomas as Global Head of EVSE (Electric Vehicle Supply Equipment) Sales to grow its business. Transom Capital Group (Transom) recently acquired AMPURE as a portfolio company. John, former President and Chief Executive Officero of Webasto Charging Systems from 2017 – 2020, rejoins the AMPURE leadership ranks with the target of continuing the growth journey for its EVSE OEM (Original Equipment Manufacturer) and Aftermarket businesses. “John is the right person to lead our continued growth; he brings a wealth of industry knowledge, a strong reputation with the vehicle OEMs, and a unique ability to create partnerships across the entire energy ecosystem,” said Russ Roenick, co-founder and managing partner of Transom Capital Group. We are aggressively investing in people and products to continue positioning our portfolio company as a global leader in electric vehicle charging. John and his peers will pursue the international market, create strong partnerships, and accelerate our business.” Thomas brings over 30 years of global automotive, government relations, and transportation expertise, including more than seven years of leadership in the EV space. He recently served as Chief Operating Officer of a charging start-up, leading that organization’s transition to the North American stage, and was formerly President and Chief Executive Officer of Webasto Charging Systems from 2018-2020. “The electrification transformation is here to stay, and AMPURE brings the missing pieces to complete the puzzle with the industry’s most robust and reliable products. AMPURE is poised to lead the industry through this transition by combining automotive-grade hardware and user-friendly software, enabling our partners to operate their businesses seamlessly,” said Thomas. “AMPURE uses highly skilled engineering, a methodology of working directly with vehicle OEMs, market intelligence, and a focus on level 2 charging, which covers 90% of all EV charging applications. This unique mix allows our organization to design, develop, and manufacture high-quality, regulatory-compliant hardware and software for vehicles, homes, and commercial applications across the globe. I’m confident we possess the correct balance of phenomenal user experience and market-changing innovation that will complement the brand image of any customer or partner.”
Fairchild Equipment recognized as Hyster Dealer of Distinction
Fairchild Equipment has announced that for the eighth time, we have been recognized by Hyster Company with the 2023 Dealer of Distinction award. This annual award recognizes top-performing dealers across the country that drives their organizations to the highest level of sales and service performance. To be named a Hyster Dealer of Distinction, Hyster dealers must meet defined business practices and overall rigorous performance standards that are updated annually to keep pace with evolving customer expectations and industry dynamics. “Every year, Dealer of Distinction recipients demonstrate their willingness to enhance capabilities and commitment to the safety and well-being of their associates while meeting increasingly demanding recognition criteria,” says Bob Sattler, Vice President, Dealer Business Development. “Our dealers have the breadth of knowledge and experience to guide customers towards maximizing performance in every aspect of lift truck operation, from safety and evolving motive power options to maintenance and fleet management support.” “Receiving the Hyster Dealer of Distinction award for the eighth time is a true testament to our commitment to providing top-notch sales and service to our customers,” said Van Clarkson, President of Fairchild Equipment. “We are honored to be recognized among the best dealers in the country and will continue to strive for excellence in everything we do.” Fairchild Equipment was recognized along with the other Dealer of Distinction honorees at a special awards celebration last week.
Staffing employment holds steady in April
New Starts Down and Four-Week Average Down From Prior Week Staffing employment held steady during the week of April 8-14, with the ASA Staffing Index edging up just slightly to hold at a rounded value of 90. Staffing jobs were down 7.6% from the same period last year; and staffing firms cited school breaks and temporary-to-permanent conversions as factors that hindered further growth. New starts in the 15th week of the year decreased by 7.6% from the prior week. More than four in 10 staffing companies (42%) reported gains in new assignments week to week. The ASA Staffing Index four-week moving average decreased from the prior week to hold at a rounded value of 90, and temporary and contract staffing employment for the four weeks ending April 14 was 8.0% lower than the same period in 2023. “Further normalization in post-pandemic labor supply and demand has enabled staffing employment to reach a steady equilibrium, as evidenced by the ASA Staffing Index holding firm around a value of 90 for 10 consecutive weeks. However, there is still plenty of room for growth in 2024; tailwinds such as interest rate cuts by the Federal Reserve and further moderation in inflation have the potential to shake up the labor market,” said Noah Yosif, chief economist at ASA. This week will be used in the April monthly employment situation report scheduled to be issued by the U.S. Bureau of Labor Statistics on May 3. The ASA Staffing Index is reported nine days after each workweek, making it a near real-time measure of staffing employment trends. ASA Staffing Starts are the number of temporary and contract employees placed in new assignments during the reporting week. ASA research shows that staffing employment has historically been a coincident economic indicator.
U.S. Rail Traffic report for the Week Ending April 20, 2024
The Association of American Railroads (AAR) has reported U.S. rail traffic for the week ending April 20, 2024. For this week, total U.S. weekly rail traffic was 474,544 carloads and intermodal units, up 0.8 percent compared with the same week last year. Total carloads for the week ending April 20 were 216,945 carloads, down 6.7 percent compared with the same week in 2023, while U.S. weekly intermodal volume was 257,599 containers and trailers, up 8.2 percent compared to 2023. Seven of the 10 carload commodity groups posted an increase compared with the same week in 2023. They included motor vehicles and parts, up 2,236 carloads, to 16,877; petroleum and petroleum products, up 2,119 carloads, to 10,754; and forest products, up 686 carloads, to 8,427. Commodity groups that posted decreases compared with the same week in 2023 were coal, down 20,796 carloads, to 47,472; nonmetallic minerals, down 854 carloads, to 31,781; and metallic ores and metals, down 704 carloads, to 21,100. For the first 16 weeks of 2024, U.S. railroads reported a cumulative volume of 3,408,295 carloads, down 4.6 percent from the same point last year; and 4,025,328 intermodal units, up 9.1 percent from last year. Total combined U.S. traffic for the first 16 weeks of 2024 was 7,433,623 carloads and intermodal units, an increase of 2.3 percent compared to last year. North American rail volume for the week ending April 20, 2024, on 10 reporting U.S., Canadian and Mexican railroads totaled 330,830 carloads, down 4.1 percent compared with the same week last year, and 346,266 intermodal units, up 7.1 percent compared with last year. Total combined weekly rail traffic in North America was 677,096 carloads and intermodal units, up 1.3 percent. North American rail volume for the first 16 weeks of 2024 was 10,466,666 carloads and intermodal units, up 2.1 percent compared with 2023. Canadian railroads reported 96,737 carloads for the week, up 3.8 percent, and 75,954 intermodal units, up 6.0 percent compared with the same week in 2023. For the first 16 weeks of 2024, Canadian railroads reported a cumulative rail traffic volume of 2,556,647 carloads, containers, and trailers, up 0.3 percent. Mexican railroads reported 17,148 carloads for the week, down 11.2 percent compared with the same week last year, and 12,713 intermodal units, down 6.8 percent. Cumulative volume on Mexican railroads for the first 16 weeks of 2024 was 476,396 carloads and intermodal containers and trailers, up 9.0 percent from the same point last year. View the weekly rail traffic charts.
NORD offers optimum conveyor functionality with NORDAC ON/ON+ VFDs
NORDAC ON/ON+ variable frequency drives deliver intelligent control of conveyor systems with an integrated multi-protocol Ethernet interface to improve efficiency, reduce system variants, and optimize performance. NORDAC ON/ON+ variable frequency drives are available in 3 frame sizes for scalable functionality NORDAC ON/ON+ decentralized variable frequency drives are the latest electronic control innovations to be produced by global manufacturer, NORD DRIVESYSTEMS. These VFDs have been engineered for the specific requirements of horizontal conveyor technology and feature integrated functions to optimize operation performance, an integrated Ethernet interface, full Plug-and-Play capability, and a compact design. NORDAC ON/ON+ variable frequency drives feature three frame sizes and two base versions: a version designed for combination with IE3 asynchronous motors and a version optimized for use with IE5+ synchronous motors (NORDAC ON+). Both versions offer compact frame sizes that can be motor- or wall-mounted based on the application and space requirements. The drives can be used over a wide speed range, enabling variant reduction for large intralogistics systems and streamlining operation. NORDAC ON supports a power range of 0.50 – 3.00 hp while NORDAC ON+ supports 0.50 – 4.00 hp. As with all NORD variable frequency drives, the NORDAC ON/ON+ is equipped with a dynamic internal PLC for drive-related functions. It can process data from connected sensors and actuators, initiate control sequences, and communicate drive and application data to the control center, networked components, or to cloud storage. For this purpose, the VFDs have an integrated multi-protocol Ethernet interface for easy integration into automation systems. Whether for ProfiNet, EtherCAT, or EtherNet/IP, the required protocol can be easily set via drive parameters. Firmware updates can also be implemented via Ethernet. In addition to simple configuration, NORDAC ON/ON+ VFDs offer quick installation and maintenance with full Plug-and-Play functionality. The 24 V DC supply for control and communication is integrated into the 3-phase 400 V supply connected to the drive via a 6-pole connector. A daisy chain connector can also be used to supply power to multiple drives, optimizing cable lengths and significantly reduce wiring efforts. NORDAC ON/ON+ VFDs include a variety of integrated functions to improve conveyor efficiency and integrate seamlessly with Industrial Internet of Things (IIoT) environments. These functions include integrated sensors via digital inputs, LED indicators for quick and simple diagnostics, an energy-saving function for optimized efficiency in partial load operation, and brake management for precise control of an electromagnetic holding brake for wear-free brake actuation. Optional functions such as Safe Torque Off (STO), Safe Stop (SS1-t), and internal braking resistors are also available for configuration. With their scalable functionality and dynamic control, NORDAC ON/ON+ variable frequency drives are suitable for a wide range of environments, particularly those in warehousing, post and parcel, airport technology, and other large-scale intralogistics applications.
Flux Power appoints Mark Leposky to Board of Directors
30-Year Global Supply Chain Executive at Fortune 500 Consumer Brands to Advance Company’s New Strategic Growth Initiatives Flux Power Holdings, Inc. has announced the appointment of Mark Leposky, a senior-level executive and entrepreneur, to its Board of Directors as an independent director, effective April 18, 2024. Leposky will also serve as a member of the Audit Committee, Compensation Committee, and Nominating Committee. Mark Leposky has over 30 years of experience leading, transforming, growing, and turning around consumer product and service companies. He currently serves as Executive Vice President and Chief Supply Chain Officer of Topgolf Callaway Brands Corp., an unrivaled tech-enabled golf company delivering leading golf equipment, apparel and entertainment, with a portfolio of global brands. He is responsible for sourcing, manufacturing, golf ball R&D, engineering, quality, program management, planning, purchasing, transportation, and logistics, the Ogio global brand, and the Wolfskin global brand. Before his work at Topgolf Callaway Brands, he served as the President & CEO of Gathering Storm, Chief Supply Chain Officer at Fisher Scientific, and Chief Operating Officer at TaylorMade Golf, among other roles at The Coca-Cola Company and United Parcel Service. Mr. Leposky also served in the U.S. Army for 16 years with roles including Infantry Officer, Platoon Leader, Executive Officer, Company Commander, Battalion and Brigade Logistics Officer. He retired from the Army with the rank of Major and received many awards and commendations including the Douglas MacArthur Leadership Award and The Illinois Medal of Merit. Mr. Leposky holds a Bachelor of Sciences degree in Industrial Technology from Southern Illinois University and an MBA from the Keller Graduate School of Management. “Mark brings deep and valuable business and product strategy experience with a strong track record of driving high growth revenue and profitability, and we welcome him to the Board,” said Ron Dutt, Chief Executive Officer of Flux Power. “He is a highly respected, purpose-driven leader who has a proven history of success throughout his career in a diverse set of industries as well as the U.S. military. His expertise in product development, engineering, program management, supply chain planning, manufacturing, procurement, transportation, logistics and sales operations will be invaluable in reaching sustained cash flow breakeven and continuing our upward margin trajectory, as well as the enhancement of long-term shareholder value.” Leposky added, “This is an exciting time to join Flux Power as it moves into 2024 with strategic growth initiatives, a strong group of sustaining Fortune 100 customers, and high potential new customer opportunities for its advanced lithium-ion energy storage solutions. I look forward to providing my experience in strategic supply chain and profitability improvement initiatives in the months and years to come.” The Company also announced that at the Annual Meeting of the Shareholders in 2024, Cheemin Bo-Linn will retire from the Board. After the 2024 Annual Meeting, Flux Power’s Board will consist of 5 members.
Marketing shouldn’t always sell
There’s been a recent push (most likely by the bean counters) to establish a direct ROI for marketing efforts. I can understand this thinking. Advertising and marketing are expensive. The adage of “half of all marketing spend is wasted, we just don’t know which half” makes sense, if you’re looking at waste in an immediate return sense. You spend $X on advertising and marketing this quarter and only get $Y in sales. As a numbers person, you’d want to invert that balance. But the problem is, that’s not the only purpose of marketing and advertising. For example, British Airways launched a new outdoor ad campaign, showing a child peering out the window of a plane in flight. The billboards don’t include a logo, QR code, tagline, or call to action. It doesn’t “sell” in the traditional sense. But that’s the point. In a world where executives sit around a board room, evaluating the marketing team’s concepts and stating, “Make the logo bigger”, “We need a call to action”, “Make the product image larger”, “Show the URL”, and “We need to list our features and benefits”, are those thinking about the beans – not how consumers operate and make decisions, or how to create perceptions or build trust and recognition. It comes across as a bit pompous. It’s like saying, “We need to talk as much about ourselves as possible”. A truly expert strategic marketer understands how a company needs to take a unique position and orientation and use marketing to capitalize on it. You see, British Airways isn’t oriented as the low-price leader. So advertising features, benefits, and other amenities would amplify the price narrative – in essence, we have more stuff, but we’re more expensive. So instead, the marketing strategy focused on shifting the narrative around their unique orientation – that experience is their differentiator, and it would be a step down to consider anything else. And they illustrated that experience rather than simply stating it in a bold, sans-serif font. Engaging consumers isn’t just about incessantly promoting features and benefits, but consistently reinforcing what makes you distinctly different in a way that connects with people. Over the last few decades, in the spirit of saving money, companies have continued to hire more and more junior staff, who see “cool” ads and simply try to replicate them, to little success. Remember, if someone knows how to use Canva, it doesn’t mean they are a designer, marketer, or strategist. Just like if someone knows how to use QuickBooks, it doesn’t mean they are a financial expert. It’s not about simply being cool, quirky, funny, or catchy. A unique orientation is inherent to a solid, well-thought-out foundation for a bigger strategy. Without it, the default is run-of-the-mill marketing that pushes features and benefits ad nauseum. Take Walmart, which sets the bar for low price expectations. So a competitor like Target instead focused on a better customer experience orientation. And their marketing focuses on reinforcing and shifting the narrative from “Is it worth paying more for Target?” to “I love Target. Do I want the hassle of going to Walmart?” Marketing strategy, just like a financial strategy, requires a level of experience and expertise that goes beyond the implementation of familiar tactics. And just like any good monetary strategy, returns can take time to manifest. Organizations need to start thinking about marketing less as a transactional sales tool and more as a mindset-changing, narrative-changing tool. Just like short-term versus long-term investing, you can make some quick gains from some lucky stock picks, but the people who make real money are focused on the long game. About the Author Andrea Belk Olson is a keynote speaker, author, differentiation strategist, behavioral scientist, and customer-centricity expert. As the CEO of Pragmadik, she helps organizations of all sizes, from small businesses to Fortune 500, and has served as an outside consultant for EY and McKinsey. Andrea is the author of three books, including her most recent, What To Ask: How To Learn What Customers Need but Don’t Tell You. She is a 4-time ADDY® award winner and host of the popular Customer Mission podcast. Her thoughts have been continually featured in news sources such as Chief Executive Magazine, Entrepreneur Magazine, Harvard Business Review, Rotman Magazine, World Economic Forum, and more. Andrea is a sought-after speaker at conferences and corporate events throughout the world. She is a visiting lecturer and startup coach at the University of Iowa, a TEDx presenter, and TEDx speaker coach. She is also an instructor at the University of Iowa Venture School.
Cabka demonstrates continued leadership in circular economy with 2023 Annual Report
Cabka, the market leader in reusable transport packaging made of recycled plastic publishes its Annual Report 2023. It includes both the financial report for the accounts of Cabka N.V. and the company’s Environmental, Social, and Governance (ESG) report. Throughout 2023, Cabka remained steadfast in its commitment to sustainability, achieving significant milestones, which underscore its leadership in the circularity movement within the Reusable Transport Packaging (RTP) industry. Cabka’s dedication to sustainability is exemplified by its remarkable achievement of 89% of raw material originating in plastic material recovery. This means that the company was able to increase the already high proportion of recycled materials intake by a further 3% compared to the previous year. This accomplishment significantly surpasses the European average of 14% recycled plastics and the target to get to 33% by 2030. 1, highlighting Cabka's pioneering role in reshaping industry standards. Notably, all products are 100% reusable, with clauses for take- back and recycling, further supporting the circularity ethos. In recognition of its commitment to sustainability, Cabka attained “gold” status in the prestigious EcoVadis assessment for the first time in 2023. This underlines Cabka’s exceptional performance across various sustainability metrics, elevating the company to be within the top 6% of rated organizations, a leap from the top 25% in just one year. Moreover, Cabka’s engagement with the Carbon Disclosure Program (CDP) underscores its dedication to addressing climate impacts. With a commendable B score, Cabka aligns itself with the overall performance of European companies, demonstrating its proactive stance in combating climate change. Cabka's performance surpasses the sector’s average, being an average grade C across the plastic products manufacturing industry. Cabka’s commitment to low-carbon circular economy principles is evident in its product designs and material management strategies. By utilizing recycled materials and designing products for reuse and recyclability, Cabka minimizes waste and resource consumption throughout its product lifecycle. With its business model, Cabka avoids more greenhouse gases than those generated by its overall company carbon footprint of 226,000 tons CO 2 e (Scope 1, 2, and 3). In 2023, Cabka took in 140,000 tons of plastic waste. Inhouse waste processing and predominantly recycled material input therefore led to 309,000 tons CO 2 being avoided in 2023 2.