Custom Fabricators Archives - Material Handling Wholesaler

Prima Power appoints Lorenzo Salgado as Regional Sales Manager to drive expansion in Mexico

Fri, 24 Apr 2026 13:49:41 +0000

Veteran operations leader to accelerate Prima Power’s automation-driven growth and customer support in Mexico’s manufacturing sector Prima Power, a global provider of sheet metal working manufacturing solutions, has announced the appointment of Lorenzo Salgado as Regional Sales Manager for California, Arizona, and, most notably, to drive the expansion of its presence in Mexico. With a distinguished 23-year tenure at the company, Salgado brings exceptional operational expertise and a proven track record to spearhead Prima Power’s strategic growth in the rapidly developing Mexican market, including automotive, data centers, construction, and industrial products manufacturing. In his new role, Salgado will focus on growth initiatives that address the needs of Mexico’s expanding base of mid-level manufacturers—companies rapidly turning to automation as they strive to become market leaders. Prima Power is boosting its investment in localized sales, targeted marketing, and a stronger regional service network. To further accelerate success for both mid-sized and global manufacturing clients, the company is launching a specialized parts warehouse in Monterrey. Salgado began his career with Prima Power in warehouse operations and systematically advanced through complex logistics and parts management roles. Most recently, he served as Senior Spare Parts and Logistics Manager – Americas, overseeing a highly successful, multimillion-dollar operation that supported industrial customers across the hemisphere. Known for a relentless, customer-centric approach, Salgado specializes in delivering high-yield automation solutions while maintaining optimal machine uptime. “We always called ourselves the firefighters,” Salgado noted regarding his extensive operations background. “We come in to solve problems.” A native of Guerrero, Mexico, Salgado combines local insight with decades of industry experience to strengthen key partnerships and open new opportunities. “I am from Mexico,” Salgado said. “I understand the language, the culture, and how operations work within the market.” With Mexico’s manufacturing sector on the upswing, Salgado is set to drive exciting new growth for Prima Power.

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Tiger Group to auction assets from closed Xytel Plant starting March 10

Wed, 04 Mar 2026 23:23:50 +0000

Metalworking, fabrication, and testing equipment are among the highlights of the South Carolina facility liquidation A Tiger Group online auction opening on March 10 features tools, rolling stock, and a wide array of metalworking, fabrication, plant support, and testing and measurement equipment. Assets in the sale are from the closed Roebuck plant of Xytel Corp., which is now in receivership. The company specializes in the engineering and design of pilot plants in sectors such as chemical processing, pharmaceuticals, biotech, and food production. It has completed more than 1,000 such projects since 1974. “Xytel was a sophisticated operation with a great many assets that are in high demand in the construction industry and are quite expensive to buy new,” noted Chad Farrell, Managing Director, Tiger Commercial & Industrial. “A facility-wide liquidation of this type is a strong opportunity.” The timed, online auction at SoldTiger.com opens on Tuesday, March 10, at 10:30 a.m. (ET) and closes on Tuesday, March 17, at 10:30 a.m. (ET). Highlights of the online auction include: Genie S-85 4×4 diesel telescopic boom lift 2014 Freightliner M2 box truck with liftgate JLG E450AJ electric articulating boom lift Hitachi X-MET8000 XRF gun analyzer Toyota and Nissan LPG forklifts MIG, TIG, and orbital welders Steelcase office chairs Additional equipment includes: Cutting, welding, bending, and shaping equipment for metal fabrication work General hand and power tools Conveyors and racking Compressors, cleaning equipment, safety gear, and general maintenance supplies Office furniture, workstations, computers, and peripherals For asset photos, descriptions, and other information, visit PILOT PLANT & PROCESS SYSTEMS MANUFACTURER Inspections are available on Mon., March 16, from 10 a.m. to 4 p.m. (ET)

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Diversified Plastics, Inc. welcomes Brandon Wallace and William Wallace to key leadership positions

Sat, 10 Jan 2026 04:13:25 +0000

Diversified Plastics Inc. (“DPI”), a national and international rotational molder for custom, proprietary, and traditional moldings, has named Brandon Wallace Systems Administrator and William Wallace Fabrication Shop and Supply Chain Manager. The appointments reinforce DPI’s commitment to innovation, operational efficiency, and customer service. Brandon Wallace, who holds a bachelor’s degree in supply chain management from the College of Charleston, brings experience in systems optimization, process improvement, and collaboration. “I’m excited to join the DPI family business and work with my father and brother,” stated Brandon. “It’s an honor to continue the legacy of what this company does best — delivering innovative solutions, quality, and service to its customers.” William Wallace, who holds a degree in operations management from Clemson University, has a background in production oversight and supply chain optimization. “I’m thrilled to be part of DPI and work alongside my family,” stated William. “I look forward to using my experience to support the company’s mission of delivering industry-leading solutions to customers.” Founded in 1976, DPI specializes in rotational molding for material handling carts, heavy-duty steps, traffic barriers, and column protectors, serving industries such as warehouses, recycling, textiles, laundry, hospitality, marine, and agriculture. The company also manufactures waste and plastic recycling containers for restaurants, stadiums, sports venues, apartments, condominiums, and offices. Its product line includes plastic utility carts, bulk material handling carts, laundry carts, forkliftable bulk containers, round drums, containers, tote boxes, spring platform trucks, tilt trucks, elevated carts, easy access carts, dock floats, boat lift tanks, holding tanks, and more.

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Arnold Magnetic Technologies announces landmark Supply Agreement with less common Metals and Solvay

Fri, 19 Dec 2025 16:41:43 +0000

Supply chain partnership and strategic investments strengthen Arnold’s commitment to long-term stability and innovation for global customers in aerospace, defense, automotive, and energy markets Arnold Magnetic Technologies Corporation (“Arnold”), a subsidiary of Compass Diversified (NYSE: CODI) and global manufacturer of high-performance magnets and precision components, has announced a landmark supply agreement with Less Common Metals and Solvay to secure a reliable source of high-quality, Western-origin rare earth materials for the production of advanced permanent magnets. This strategic partnership demonstrates Arnold’s commitment to strengthening the rare-earth supply chain and ensuring long-term stability for customers in the aerospace, defense, automotive, and energy markets. By bolstering access to critical materials, Arnold continues to deliver breakthrough solutions and maintain industry leadership in magnetic assemblies and precision components. “As market demand accelerates for sustainable, Western-sourced magnet materials, Arnold is taking decisive action to guarantee supply and provide commercial flexibility for our customers,” said Aaron Williams, Chief Commercial Officer of Arnold Magnetic Technologies. “This partnership further reinforces our ability to serve global markets with next-generation magnetic solutions.” “We are very pleased to partner with LCM and Arnold Magnetic Technologies to provide essential resources for high-performance applications, particularly in the strategic domain of the European Aerospace Industry,” said An Nuyttens, President of GBU Special Chem at Solvay. This collaboration is part of Solvay’s broader commitment to sustainable and secure rare earth supply chains, both in Europe and abroad. These supply chain developments complement Arnold’s ongoing capital investments in Switzerland and expanded manufacturing capabilities in Thailand, positioning the company to serve multiple markets worldwide in a commercially competitive fashion. The news follows Solvay’s recent announcements regarding the commissioning in April 2025 of a production line for Neodymium-Praseodymium (NdPr) for magnets and the launch of the commercial production of Dysprosium (Dy), Terbium (Tb), and Samarium (Sm) as of 2026 on its historical flagship site of La Rochelle, France.

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October 2025 US Cutting Tool Orders total $250.1M, Up 14.7% from October 2024

Fri, 19 Dec 2025 16:02:24 +0000

Shipments of cutting tools, measured by the Cutting Tool Market Report, a collaboration between AMT – The Association For Manufacturing Technology and the U.S. Cutting Tool Institute (USCTI), totaled $250.1 million in October 2025. Orders increased 12.7% from September 2025 and 14.7% from October 2024. Year-to-date shipments trended positively for the first time this year, totaling $2.13 billion, up 0.6% from the same period in 2024. “The latest three-month trend is looking more promising, but our industry is still flat to down over the past year,” said Mike Stokey, president of USCTI. “I believe our industry is cautiously optimistic that 2026 will be slightly better than 2025. Obviously, that could change quickly based on any changes to economic policies.” Costikyan Jarvis, president of Jarvis Cutting Tools, said: “The very strong October 2025 results are likely the result of several one-time factors driving demand rather than a new baseline; however, the overall picture continues to show a slow rise in industrial output, with the promise of more growth in 2026. The year-to-date 2025 data versus 2024 data show a strengthening trend consistent with other economic indicators. This suggests that industrial manufacturing is looking at a much better 2026 than 2025.” The Cutting Tool Market Report is jointly compiled by AMT and USCTI, two trade associations representing the development, production, and distribution of cutting tool technology and products. It provides a monthly statement on U.S. manufacturers’ consumption of the primary consumable in the manufacturing process, the cutting tool. Analysis of cutting tool consumption is a leading indicator of both upturns and downturns in U.S. manufacturing activity, as it is a true measure of actual production levels.

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Nucor reports results for the third quarter of 2025

Fri, 31 Oct 2025 01:22:28 +0000

Third Quarter of 2025 Highlights Net earnings attributable to Nucor stockholders of $607 million, or $2.63 per diluted share Net sales of $8.52 billion Net earnings before noncontrolling interests of $683 million; EBITDA of $1.27 billion Nucor Corporation has announced consolidated net earnings attributable to Nucor stockholders of $607 million, or $2.63 per diluted share, for the third quarter of 2025. By comparison, Nucor reported consolidated net earnings attributable to Nucor stockholders of $603 million, or $2.60 per diluted share, for the second quarter of 2025 and $250 million, or $1.05 per diluted share, for the third quarter of 2024. “We continue to execute on Nucor’s strategy of growing our core steelmaking capabilities, while expanding into downstream, steel-adjacent businesses,” said Leon Topalian, Nucor’s Chair, President, and Chief Executive Officer. “During the third quarter, we began ramping up production at two recently completed bar mill projects, advanced our sheet steel production and coating projects, and commenced pole production at our Alabama Towers & Structures facility. Throughout a period of capital investment, Nucor continues to have the strongest balance sheet of any major steel producer in North America and has returned nearly $1 billion to shareholders year-to-date, representing more than 70% of net earnings through the third quarter.” Analysis of Third Quarter of 2025 Results Compared to the Second Quarter of 2025 Earnings in the steel mills segment decreased in the third quarter of 2025, primarily due to slightly lower volumes and margin compression. The decrease in earnings in the steel products segment during the third quarter was due to higher average costs per ton, stable average realized pricing, and moderately higher volumes. The raw materials segment reported lower earnings in the third quarter of 2025, primarily due to lower realized pricing in our direct-reduced iron and scrap processing operations. The third quarter of 2025 consolidated net earnings attributable to Nucor stockholders were positively impacted by lower profit elimination related to intracompany sales and a decrease in the amount of earnings attributable to noncontrolling interests. Financial Strength At the end of the third quarter of 2025, Nucor had $2.75 billion in cash, cash equivalents, and short-term investments on hand. The Company’s $2.25 billion revolving credit facility remains undrawn and is set to expire in March 2030. The Company maintains the strongest credit ratings in the North American steel sector (A-/A-/A3) with stable outlooks from Standard & Poor’s, Fitch Ratings, and Moody’s, respectively. In September 2025, Moody’s upgraded Nucor’s long-term credit rating to A3 from Baa1, with a stable outlook. Commitment to Returning Capital to Stockholders During the third quarter of 2025, Nucor repurchased approximately 0.7 million shares of its common stock at an average price of $140.46 per share (approximately 4.8 million shares during the first nine months of 2025 at an average price of $126.26 per share). As of October 4, 2025, Nucor had approximately $506 million remaining authorized and available for repurchases under its share repurchase program. This share repurchase authorization is discretionary and has no scheduled expiration date. On September 4, 2025, Nucor’s Board of Directors declared a cash dividend of $0.55 per share. This cash dividend is payable on November 10, 2025, to stockholders of record as of September 30, 2025, and is Nucor’s 210th consecutive quarterly cash dividend. Fourth Quarter of 2025 Outlook Compared to the Third Quarter of 2025 Nucor expects earnings in the fourth quarter of 2025 to be lower than in the third quarter of 2025. In the steel mills segment, the expected decrease is primarily due to lower overall volumes, as well as lower average selling prices in our sheet mills. In the steel products segment, the expected decrease is mainly due to lower volumes. In the raw materials segment, the expected decrease is due to lower realized pricing, as well as planned outages at our direct-reduced iron facilities.

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Steele Solutions launches new Automation and Controls Division

Wed, 01 Oct 2025 14:32:11 +0000

New division delivers turnkey controls and automation solutions, helping integrators, OEMs, and end users reduce risk, accelerate deployment, and ensure long-term reliability Steele Solutions, a manufacturer of engineered steel mezzanines, work platforms, and material handling solutions, has announced the launch of its new division, SSI Automation. This dedicated group will deliver turnkey, intelligent controls and automation systems designed to reduce project risk, accelerate deployment, and ensure long-term reliability. Complex handoffs and late-stage troubleshooting often delay controls and automation projects. SSI Automation was created to address these challenges by offering modular, simulation-ready architectures, reusable code libraries, and diagnostic-rich designs. The result is faster commissioning, cleaner deployments, and scalable systems that are platform-agnostic. “SSI Automation solves a problem we’ve seen for decades—custom controls from scratch on every project, even when 80% of the functionality is the same—leading to unnecessary engineering, bloated costs, and inconsistent performance,” said Todd Hunter, Controls Division Leader, Steele Solutions. The division’s capabilities span the project lifecycle—from panel design to ongoing service needs. By leveraging digital twin simulation, modular templates, and platform-agnostic architectures, SSI Automation helps its users achieve their goals. For customers in parcel, e-commerce, retail distribution, and warehousing, this new division means faster, more predictable project execution and long-term reliability. SSI Automation eliminates unnecessary engineering waste while keeping projects on schedule and on budget. “With SSI Automation, we’re making it easier for our customers to move forward with confidence,” said Andy Schumacher, Chief Revenue Officer at Steele Solutions. “By combining proven modular logic with simulation-ready testing, we’re reducing risk, cutting commissioning time, and giving clients a system they can rely on for years to come.” “Launching SSI Automation is a strategic step that strengthens Steele Solutions’ ability to deliver end-to-end value,” Steele Solutions CEO Kevin O’Neil added. “This division complements our core offerings by giving customers not only the structural backbone of their systems, but also the intelligent controls that drive long-term performance.”

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Cyclonaire welcomes Corey Egger as Business Development Manager – Mineral Sector

Fri, 27 Jun 2025 13:58:03 +0000

Cyclonaire has announced the addition of Corey Egger to the Business Development team, following a comprehensive search for a seasoned professional in bulk material handling. Corey joins Cyclonaire with a wealth of experience in technical sales, systems engineering, and project management, specifically within pneumatic conveying solutions. Over the past eight years, Corey has held a series of progressive roles—from Engineering Design teams to Systems Sales Engineer, and most recently, Regional Technical Sales Manager. His career has centered on the successful execution of complex projects, providing end-to-end leadership from technical inquiry and system planning through global commissioning. “Corey brings a powerful combination of technical expertise, industry knowledge, and a customer-first mindset,” said Jay Anzelmo, Vice President of Sales and Marketing at Cyclonaire. “We’re thrilled to welcome him to the Cyclonaire family. His ability to lead projects, build strong relationships, and his customer-focused approach make him a tremendous asset to our organization and our partners. Corey holds a degree in Industrial Engineering from Kansas State University and previously studied physics at Fort Hays State University. Known for his clarity in communication, unwavering attention to detail, and calm under pressure, Corey consistently earns praise from colleagues and customers alike, many calling his projects “a joy to work on.” Outside the office, Corey enjoys life with his wife, Kristen, along with their lively pack of Corgis. He also spends time working on his boat and diving into new books. Cyclonaire looks forward to the knowledge, energy, and dedication Corey brings to our team and the customers we serve.

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Machinery orders continue upswing despite typical April decline

Mon, 09 Jun 2025 14:13:08 +0000

New orders of metalworking machinery, measured by the U.S. Manufacturing Technology Orders Report published by AMT – The Association For Manufacturing Technology, totaled $444.9 million in April 2025. This marked a 12.7% decline from March 2025 and a nearly 40% increase from April 2024. Machinery orders in 2025 placed through April totaled $1.69 billion, a 17.8% increase over the first four months of 2024. Typically, machinery orders in April decline by 21% from March, which tends to see outsized order volumes due to many machinery manufacturers ending their fiscal year. This year’s March-April decline of 12.7% represents the lowest drop since April 2022. Some of this strong demand could be attributed to front-running the coming tariffs on imported goods and expectations of increased demand for domestically sourced manufactured goods and components. Despite declines in overall manufacturing output, machinery manufacturers increased production by 0.3% in April, marking a continuation of the upward trend that began in October 2024. Orders of manufacturing technology from contract machine shops showed signs of continuing demand, declining by only 6.3% from March to April 2025; the overall market fell by more than twice that number. Primary metal manufacturers increased orders to their highest level since February 2024. If the recent tariff increase on metals remains, orders from this sector could increase as domestic suppliers attempt to meet new demand with limited available capacity. Orders from aerospace manufacturers dropped by nearly half from their March 2025 levels but remained slightly above their 2024 monthly average. Demand held the industry’s upward momentum through April, and learning the actual impact of recent tariff announcements could take some time due to their erratic implementation. The National Association of Manufacturers’ recently released Manufacturers’ Outlook Survey showed a steep decline in respondents reporting an optimistic economic outlook compared to their previous survey. Despite this waning optimism, the survey also reported that capital investments are still expected to rise modestly over the next 12 months, albeit at a lower level than projected earlier in the year.

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Arnold Magnetic Technologies highlights the PLASTIFORM® High Energy Flexible Magnets, Made in America

Fri, 06 Jun 2025 20:11:06 +0000

Arnold Magnetic Technologies Corporation (Arnold), a subsidiary of Compass Diversified and a global manufacturer of high-performance magnets and precision thin metals, is highlighting the PLASTIFORM® High Energy Flexible Magnets. This innovative product line, made in America, delivers unprecedented design versatility and exceptional quality, resulting in significant system savings compared to conventional magnets. As global supply chains shift, Arnold is uniquely positioned to support customers seeking to reshore their production. By offering domestically produced PLASTIFORM® flexible magnets, Arnold helps manufacturers strengthen their U.S. operations, improve supply chain reliability, and meet the highest standards of quality and performance. PLASTIFORM® High Energy Flexible Magnets are engineered specifically for applications that require increased magnetic field strength while maintaining the flexibility of a bonded magnet, even in environments with high temperatures, wide temperature ranges, or exposure to corrosive materials. These advanced magnetic and physical characteristics distinguish PLASTIFORM® magnets from standard flexible magnets, making them ideal for critical applications where reliability and durability are crucial. They are the preferred choice for applications in position sensing, chip collection, and holding, especially where reliability in harsh environments is non-negotiable. These magnets are widely used in automated guided vehicles and robotics, sprinkler systems, cylinder position sensors, ABS brake sensors, smoke curtains, automated storage and retrieval systems, and flexographic printing presses. Their superior thermal characteristics, dimensional stability, and solvent resistance ensure consistent performance in the most demanding environments. With energy products ranging from 1.0 to 1.6 MGOe, PLASTIFORM® magnets are available in a wide selection of thicknesses, roll sizes, and finishes, allowing them to be precisely tailored for a broad range of applications. Arnold offers both bonded ferrite and bonded rare-earth materials to meet the demanding requirements of motor stators and rotors, actuators, instrumentation, armatures, and holding magnets used across the automotive, medical, defense, and commercial sectors. The PLASTIFORM® product line’s exceptional design versatility and superior quality deliver substantial system savings compared to conventional magnets. Their advanced chemical resistance, ability to perform at high operating temperatures, and strong holding forces provide manufacturers with a distinct advantage when seeking reliable and long-lasting magnetic solutions. As more U.S. manufacturers look to reshore their production for greater supply chain security and reduced lead times, Arnold’s domestically produced PLASTIFORM® flexible magnets offer a strategic advantage. By sourcing from Arnold’s U.S. facilities, customers can reduce reliance on overseas suppliers, ensure compliance with American quality standards, and support domestic manufacturing jobs.

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March 2025 US Cutting Tool Orders total $207.1M, Up 4.3% from February

Thu, 22 May 2025 14:27:58 +0000

Shipments of cutting tools, measured by the Cutting Tool Market Report compiled in a collaboration between AMT – The Association For Manufacturing Technology and the U.S. Cutting Tool Institute (USCTI), totaled $207.1 million in March 2025. Orders increased 4.3% from February 2025 but dropped 4.2% from March 2024. Year-to-date shipments totaled $605.6 million, a drop of 5.9% from the same period in 2024. “Despite the uncertainty from Washington, it was still business as usual for most companies,” said Jack Burley, chairman of AMT’s Cutting Tool Product Group. “However, most tooling manufacturers are either dealing with increased tariffs for products sourced abroad or increased costs for raw materials like tungsten carbide, or both. These increased costs for perishable tools are already getting passed on, resulting in a hit to the operating margins for manufacturers.” Bret Tayne, president of Everede Tool Co., said, “March cutting tool sales improved over February and were at the highest level we have seen since October 2024. Despite the improvement, year-over-year sales remained below 2024 levels for the third consecutive month. Although this data precedes the ‘Liberation Day’ tariff announcements, I’ve anecdotally heard optimism that the current volatility will be short-lived, and modest growth will return in the second half of the year.” The Cutting Tool Market Report is jointly compiled by AMT and USCTI, two trade associations representing the development, production, and distribution of cutting tool technology and products. It provides a monthly statement on U.S. manufacturers’ consumption of the primary consumable in the manufacturing process, the cutting tool. Analysis of cutting tool consumption is a leading indicator of both upturns and downturns in U.S. manufacturing activity, as it is a true measure of actual production levels.

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Mitsubishi Logisnext Americas expands Houston Campus with new fabrication building

Fri, 09 May 2025 12:50:17 +0000

New facility to accelerate growth and streamline processes in electric forklift production, solidifying the company as a leader in material handling Mitsubishi Logisnext Americas, one of the world’s leading manufacturers and providers of material handling, automation, and fleet solutions, has announced the completion of a major expansion at its Houston manufacturing campus with the 73,500-square-foot electrification fabrication facility. This milestone marks a significant step in the company’s strategic initiative to grow its footprint in the rapidly expanding electric market. The new facility is designed to meet the rising demand for Mitsubishi Logisnext Americas’ Electric Class I and Class II products, including the pantograph reach truck, order picker, and stand-up counterbalance forklift. It is also designed to significantly enhance production capacity, streamline operations, and lower manufacturing costs to serve evolving customer needs better. “This expansion is a reflection of our continued commitment to innovation and growth,” said Berry Mansfield, President of Mitsubishi Logisnext Americas. “It took a shared vision to bring this expansion to life, and we’re proud of what we’ve built. This facility not only supports our growth in electrification but also creates a more engaging environment for our employees. We’re excited to start production this year.” Construction began with a groundbreaking in August 2023 and was completed in spring 2024. Installation of advanced technologies, including powder painting and robotic welding equipment, took place throughout 2024, culminating in the completion of the new electrification building in 2025. The development aligns with Mitsubishi Logisnext Americas’ long-term strategic goal to grow its warehouse product market share. With electric-powered solutions continuing to outpace internal combustion (IC) vehicles in the market, this facility strengthens the company’s position for sustained momentum. In total, Mitsubishi Logisnext Americas has invested nearly $20 million in the new facility to respond to increasing demand while improving lead times, profitability, and product quality. The new facility will help all parties involved by streamlining operations and boosting overall manufacturing efficiency, delivering greater value to customers, employees and partners.

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Plastics Industry Association shares concern about tariffs and urges trade policies that strengthen U.S. Manufacturing

Tue, 04 Mar 2025 20:23:48 +0000

PLASTICS president and CEO Matt Seaholm issued the following statement regarding the Trump Administration’s implementation of tariffs on Canada, Mexico, and China: “The plastics industry continues to recognize the importance of securing our borders and combating illegal drug trafficking to protect American communities and eradicate fentanyl from our society. A strong and secure nation is fundamental to economic growth and industrial stability. “PLASTICS remains deeply concerned about the tariffs on Canada, Mexico, and China and their impact on U.S. plastics manufacturing and jobs. While we understand President Trump’s rationale, a competitive industry depends on policies that protect American manufacturing while ensuring stable supply chains. These tariffs will disrupt the movement of essential machines, products, and materials that keep American manufacturers running across the healthcare, consumer products, and automotive sectors. “The plastics industry is a cornerstone of American manufacturing and daily life. We know that a strategic, measured approach to trade is critical to strengthening—not harming—the U.S. economy. We urge policymakers to support balanced trade policies that enhance U.S. competitiveness, reinforce supply chains, and drive continued innovation,” Seaholm concluded. In 2023, U.S. plastics exports totaled $74.2 billion, exceeding imports of $73.3 billion, resulting in a $958 million trade surplus. This strength underscores the industry’s global leadership; however, new tariffs on key trading partners threaten supply chains, increase costs, and risk eroding this advantage. To sustain growth and innovation, trade policies must bolster—not hinder—U.S. plastics manufacturing and economic leadership.

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NUCOR reports results for the fourth quarter and full year 2024

Mon, 27 Jan 2025 21:53:16 +0000

Fourth quarter and full year 2024 diluted EPS of $1.22 and $8.46, respectively. Fourth quarter and full year 2024 net sales of $7.08 billion and $30.73 billion, respectively. Fourth quarter and full year 2024 net earnings before noncontrolling interests of $345 million and $2.32 billion, respectively; EBITDA of $751 million and $4.37 billion, respectively. Today, Nucor Corporation announced consolidated net earnings attributable to Nucor stockholders of $287 million, or $1.22 per diluted share, for the fourth quarter of 2024. By comparison, Nucor reported consolidated net earnings attributable to Nucor stockholders of $250 million, or $1.05 per diluted share, for the third quarter of 2024. Excluding non-cash impairment charges taken during the quarter, Nucor’s third quarter of 2024 adjusted net earnings attributable to Nucor stockholders were $353 million, or $1.49 per diluted. Nucor reported consolidated net earnings attributable to Nucor stockholders of $785 million, or $3.16 per diluted share, for the fourth quarter of 2023. For the full year 2024, Nucor reported consolidated net earnings attributable to Nucor stockholders of $2.03 billion, or $8.46 per diluted share, compared with consolidated net earnings attributable to Nucor stockholders of $4.53 billion, or $18.00 per diluted share, in 2023. “I want to thank our teammates for making 2024 the safest year in Nucor history during an active year of construction projects and ramp-ups that are advancing our growth strategy,” said Leon Topalian, Chair, President, and Chief Executive Officer. “While steel demand softened throughout 2024, market conditions are starting to improve and should gain momentum as we work our way into 2025. The U.S. economy is still on the front end of several steel-intensive megatrends and as America’s largest and most diversified steel producer, Nucor is well positioned to supply those needs.” Selected Segment Data Earnings (loss) before income taxes and noncontrolling interests by segment for the fourth quarter and full year 2024 and 2023 were as follows (in millions): Financial Review Nucor’s consolidated net sales decreased 5% to $7.08 billion in the fourth quarter of 2024 compared with $7.44 billion in the third quarter of 2024 and decreased 8% compared with $7.71 billion in the fourth quarter of 2023. Average sales price per ton in the fourth quarter of 2024 decreased 3% compared with the third quarter of 2024 and decreased 10% compared with the fourth quarter of 2023. Approximately 6,058,000 tons were shipped to outside customers in the fourth quarter of 2024, a 2% decrease from the third quarter of 2024 and a 2% increase from the fourth quarter of 2023. Total steel mill shipments in the fourth quarter of 2024 decreased 1% compared to the third quarter of 2024 and increased 2% compared to the fourth quarter of 2023. Steel mill shipments to internal customers represented 19% of total steel mill shipments in the fourth quarter of 2024, which was unchanged from the third quarter of 2024 and decreased from 20% in the fourth quarter of 2023. Downstream steel product shipments to outside customers in the fourth quarter of 2024 decreased 4% from the third quarter of 2024 and the fourth quarter of 2023. For the full year 2024, Nucor’s consolidated net sales of $30.73 billion decreased 11% compared with consolidated net sales of $34.71 billion reported for the full year 2023. Total tons shipped to outside customers in 2024 were approximately 24,767,000 tons, a decrease of 2% from 2023, while the average sales price per ton in 2024 decreased 10% from 2023. The average scrap and scrap substitute cost per gross ton used in the fourth quarter of 2024 was $381, a 1% increase compared to $378 in the third quarter of 2024 and a 4% decrease compared to $397 in the fourth quarter of 2023. The average scrap and scrap substitute cost per gross ton used in the full year 2024 was $394, a 6% decrease compared to $421 in the full year 2023. Pre-tax, pre-operating, and start-up costs related to the Company’s growth projects were approximately $164 million, or $0.53 per diluted share, in the fourth quarter of 2024, compared with approximately $168 million, or $0.54 per diluted share, in the third quarter of 2024 and approximately $127 million, or $0.39 per diluted share, in the fourth quarter of 2023. In the full year 2024, pre-tax, pre-operating, and start-up costs related to the Company’s growth projects were approximately $594 million, or $1.89 per diluted share, compared with approximately $400 million, or $1.21 per diluted share, in the full year 2023. Overall operating rates at the Company’s steel mills were 74% in the fourth quarter of 2024 as compared to 75% in the third quarter of 2024 and 74% in the fourth quarter of 2023. Operating rates for the full year 2024 decreased to 76% as compared to 78% for the full year 2023. Financial Strength At the end of the fourth quarter of 2024, Nucor had $4.14 billion in cash and cash equivalents and short-term investments on hand. The Company’s $1.75 billion revolving credit facility remains undrawn and does not expire until November 2026. Nucor continues to have the strongest credit ratings in the North American steel sector (A-/A-/Baa1) with stable outlooks at Standard & Poor’s, Fitch Ratings, and a positive outlook at Moody’s. Commitment to Returning Capital to Stockholders On December 11, 2024, Nucor’s Board of Directors declared a cash dividend of $0.55 per share. This cash dividend is payable on February 11, 2025, to stockholders of record as of December 31, 2024, and is Nucor’s 207th consecutive quarterly cash dividend. Nucor has increased its regular, or base, dividend for 52 consecutive years – every year since it first began paying dividends in 1973. During the fourth quarter of 2024, Nucor repurchased approximately 2.1 million shares of its common stock at an average price of $149.81 per share (approximately 13.1 million shares during the full year 2024 at an average price of $168.75 per share). As of December 31, 2024, Nucor had approximately $1.11 billion remaining authorized and available for repurchases under its share repurchase program. This share

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Wauseon Machine introduces the redeployable automation module

Wed, 23 Oct 2024 13:45:50 +0000

Innovative Solution for streamlined production and flexibility across industries Wauseon Machine highlights its Redeployable Automation Module, a transformative solution designed to enhance automation efficiency across industries. Engineered for versatility and cost-effectiveness, this platform integrates seamlessly into various manufacturing processes, offering flexibility from manual to fully automated operations. Its modular design allows for easy customization and redeployment, adapting to changing production needs such as assembly, sorting, testing, and handling tasks. This innovative platform represents WM’s commitment to advancing manufacturing technologies, reducing initial investment costs, and accelerating deployment timelines. Recent implementations have demonstrated remarkable results, including a significant reduction in labor requirements and a notable 28% increase in production output. Whether used in a single-cell configuration or integrated into a larger assembly line, the Redeployable Automation Module empowers businesses to optimize their operational efficiency. Wauseon Machine, offering extensive fabrication capabilities, ensures every component of the Redeployable Automation Module meets stringent quality and performance standards. With over four decades of experience, Wauseon Machine continues to innovate in automation and precision machining, driving industry standards and meeting the evolving needs of its customers. Founded in 1983, WM has grown from a small machine shop to a leader in robotics automation and precision machining. The introduction of the Redeployable Automation Module underscores WM’s commitment to delivering cutting-edge solutions that enhance productivity and operational flexibility in manufacturing environments.

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Nucor reports results for the Third Quarter of 2024

Mon, 21 Oct 2024 20:54:34 +0000

Consolidated net earnings attributable to Nucor stockholders of $249.9 million, or $1.05 per diluted share Adjusted net earnings attributable to Nucor stockholders of $353.0 million, or $1.49 per diluted share Net sales of $7.44 billion Net earnings before noncontrolling interests of $302.8 million; EBITDA of $869.0 million Nucor Corporation announced consolidated net earnings attributable to Nucor stockholders of $249.9 million, or $1.05 per diluted share, for the third quarter of 2024. Excluding non-cash impairment charges taken during the quarter, Nucor’s third quarter of 2024 adjusted net earnings attributable to Nucor stockholders were $353.0 million, or $1.49 per diluted share. By comparison, Nucor reported consolidated net earnings attributable to Nucor stockholders of $645.2 million, or $2.68 per diluted share, for the second quarter of 2024 and $1.14 billion, or $4.57 per diluted share, for the third quarter of 2023. Reflected in the third quarter of 2024, losses and impairments of assets are non-cash charges of $83.0 million, or $0.27 per diluted share, and $40.0 million, or $0.17 per diluted share, related to the impairment of certain noncurrent assets in the raw materials and steel products segments, respectively. In the first nine months of 2024, Nucor reported consolidated net earnings attributable to Nucor stockholders of $1.74 billion, or $7.22 per diluted share, compared with consolidated net earnings attributable to Nucor stockholders of $3.74 billion, or $14.83 per diluted share, in the first nine months of 2023. “Thank you to our Nucor teammates for continuing to set new records for safety performance while generating over $1.30 billion of cash from operations for the quarter,” said Leon Topalian, Nucor’s Chair, president, and Chief Executive Officer. “Nucor’s market leadership, product diversity, and strong balance sheet enable us to provide meaningful returns to shareholders and execute our growth strategy even in the face of market uncertainty.” Selected Segment Data Earnings (loss) before income taxes and noncontrolling interests by segment for the third quarter and first nine months of 2024 and 2023 were as follows (in thousands): Three Months (13 Weeks) Ended Nine Months (39 Weeks) Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Steel mills $ 309,123 $ 882,614 $ 2,056,689 $ 3,124,549 Steel products 313,972 806,731 1,266,922 2,788,322 Raw materials (66,332) 71,367 (17,355) 267,918 Corporate/eliminations (168,490) (212,630) (794,479) (986,141) $ 388,273 $ 1,548,082 $ 2,511,777 $ 5,194,648 Financial Review Nucor’s consolidated net sales decreased 8% to $7.44 billion in the third quarter of 2024 compared with $8.08 billion in the second quarter of 2024 and decreased 15% compared with $8.78 billion in the third quarter of 2023. Average sales price per ton in the third quarter of 2024 decreased 6% compared with the second quarter of 2024 and decreased 15% compared with the third quarter of 2023. Approximately 6,196,000 tons were shipped to outside customers in the third quarter of 2024, a 1% decrease compared with the second quarter of 2024 and the third quarter of 2023. Total steel mill shipments in the third quarter of 2024 decreased 3% compared with the second quarter of 2024 and were comparable to the third quarter of 2023. Steel mill shipments to internal customers represented 19% of total steel mill shipments in the third quarter of 2024, compared with 21% in the second quarter of 2024 and 20% in the third quarter of 2023. Downstream steel product shipments to outside customers in the third quarter of 2024 decreased 6% compared with the second quarter of 2024 and decreased 11% compared with the third quarter of 2023. In the first nine months of 2024, Nucor’s consolidated net sales of $23.66 billion decreased 12% compared with consolidated net sales of $27.01 billion in the first nine months of 2023. Total tons shipped to outside customers in the first nine months of 2024 were approximately 18,709,000 tons, a decrease of 3% compared with the first nine months of 2023, and the average sales price per ton in the first nine months of 2024 decreased 10% compared with the first nine months of 2023. The average scrap and scrap substitute cost per gross ton used in the third quarter of 2024 was $378, a 5% decrease compared to $396 in the second quarter of 2024 and a 9% decrease compared to $415 in the third quarter of 2023. The average scrap and scrap substitute cost per gross ton used in the first nine months of 2024 was $399, a 7% decrease compared to $429 in the first nine months of 2023. Pre-operating and start-up costs related to the Company’s growth projects were approximately $168 million, or $0.54 per diluted share, in the third quarter of 2024, compared with approximately $137 million, or $0.43 per diluted share, in the second quarter of 2024 and approximately $101 million, or $0.31 per diluted share, in the third quarter of 2023. In the first nine months of 2024, pre-operating and start-up costs related to the Company’s growth projects were approximately $430 million, or $1.36 per diluted share, compared with approximately $273 million, or $0.83 per diluted share, in the first nine months of 2023. Overall, operating rates at the Company’s steel mills were 75% in the third quarter and second quarter of 2024 and 77% in the third quarter of 2023. Operating rates in the first nine months of 2024 decreased to 77%, compared to 80% in the first nine months of 2023. Financial Strength At the end of the third quarter of 2024, we had $4.86 billion in cash and cash equivalents and short-term investments on hand. The Company’s $1.75 billion revolving credit facility remains undrawn and does not expire until November 2026. Nucor continues to have the strongest credit ratings in the North American steel sector (A-/A-/Baa1), with stable outlooks at Standard & Poor’s and Fitch Ratings and a positive outlook at Moody’s. Commitment to Returning Capital to Stockholders Nucor repurchased approximately 2.5 million shares of its common stock during the third quarter of 2024 at an average price of $156.07 per share (approximately 11.0 million shares year-to-date

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Steele Solutions set to move into Tech Center in West Allis, WI

Wed, 04 Sep 2024 20:54:33 +0000

The new location as an anchor of Summit Place in West Allis signifies growth and enhanced collaboration while maintaining strong manufacturing roots in South Milwaukee Steele Solutions Inc., a manufacturer of structural steel work/equipment platforms, material handling chutes, and public safety security lockers, announces the opening of its new Tech Center at Summit Place, located at 6737 West Washington Street, West Allis. This significant move highlights the company’s commitment to growth, innovation, and enhanced operational efficiency. “Our new Tech Center, situated in the heart of West Allis, is a perfect blend of historic charm and modern functionality,” said Steele Solutions, president Matthew McBurney. “The 40,000-square-foot space, housed in the renovated and historic Allis-Chalmers building, embodies our vision of fostering collaboration and driving innovation.” The new building will feature: A state-of-the-art Technical Innovation Center Complete design and project management teams Departments for Finance, HR, Supply Chain, Quality, Sales, and Marketing An expansive training center and an outside patio This move brings all office functions under one roof, promoting seamless communication and idea-sharing. The location, developed by Whitnall-Summit Development Company, is part of an urban adaptive reuse project on the former Allis-Chalmers Campus, which historically produced some of the world’s largest machinery. “We chose this central city location to attract top technical talent and to ensure easy accessibility,” added McBurney. “Being right off the highway and walkable to local amenities like the farmers market and restaurants makes it an ideal spot for our team. Our larger office space not only provides room to grow but also enhances our ability to collaborate and innovate.” Steele Solutions will be an anchor tenant in the building, sharing the space with notable entities such as Children’s Hospital of Wisconsin and Goodwill’s Mission Programs. The building’s exposed brick beams, big windows, and convenient amenities provide a unique and inspiring work environment. The corporate headquarters will remain in South Milwaukee, ensuring continuity and stability in production operations. Steele Solutions is currently hiring and looking to expand its team. The new building provides the necessary space for this growth and additional features to attract top talent to the vibrant and innovative workplace.

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Nucor reports 11% consolidated net sales decrease for the first six months compared to prior year

Mon, 22 Jul 2024 20:56:03 +0000

Nucor Corporation announced consolidated net earnings attributable to Nucor stockholders of $645.2 million, or $2.68 per diluted share, for the second quarter of 2024. By comparison, Nucor reported consolidated net earnings attributable to Nucor stockholders of $844.8 million, or $3.46 per diluted share, for the first quarter of 2024 and $1.46 billion, or $5.81 per diluted share, for the second quarter of 2023. In the first six months of 2024, Nucor reported consolidated net earnings attributable to Nucor stockholders of $1.49 billion, or $6.14 per diluted share, compared with consolidated net earnings attributable to Nucor stockholders of $2.60 billion, or $10.26 per diluted share, in the first six months of 2023. “While market conditions have softened compared to recent record-setting years, Nucor remains focused on its long-term growth strategy and has returned more than $1.7 billion to investors through June,” said Leon Topalian, Nucor’s Chair, President and Chief Executive Officer. “Nucor’s strategy to grow our core steelmaking operations and expand into steel-adjacent downstream markets positions the company to create attractive shareholder value and improve the company’s through-cycle earnings profile. I am incredibly proud of the 32,000 men and women of Nucor who are executing this growth plan while achieving the safest start to any year in Nucor’s history.” Financial Review Nucor’s consolidated net sales decreased 1% to $8.08 billion in the second quarter of 2024 compared with $8.14 billion in the first quarter of 2024 and decreased 15% compared with $9.52 billion in the second quarter of 2023. Average sales price per ton in the second quarter of 2024 decreased 2% compared with the first quarter of 2024 and decreased 11% compared with the second quarter of 2023. Approximately 6,289,000 tons were shipped to outside customers in the second quarter of 2024, a 1% increase compared with the first quarter of 2024 and a 5% decrease compared with the second quarter of 2023. Total steel mill shipments in the second quarter of 2024 were comparable to the first quarter of 2024 and decreased 2% compared to the second quarter of 2023. Steel mill shipments to internal customers represented 21% of total steel mill shipments in the second quarter of 2024, compared with 21% in the first quarter of 2024 and 20% in the second quarter of 2023. Downstream steel product shipments to outside customers in the second quarter of 2024 increased by 11% compared with the first quarter of 2024 and decreased by 10% compared with the second quarter of 2023. In the first six months of 2024, Nucor’s consolidated net sales of $16.21 billion decreased 11% compared with consolidated net sales of $18.23 billion reported in the first six months of 2023. Total tons shipped to outside customers in the first six months of 2024 were approximately 12,513,000 tons, a decrease of 4% compared with the first six months of 2023, and the average sales price per ton in the first six months of 2024 decreased 7% compared with the first six months of 2023. The average scrap and scrap substitute cost per gross ton used in the second quarter of 2024 was $396, a 6% decrease compared to $421 in the first quarter of 2024 and a 13% decrease compared to $455 in the second quarter of 2023. The average scrap and scrap substitute cost per gross ton used in the first six months of 2024 was $409, a 6% decrease compared to $435 in the first six months of 2023. Pre-operating and start-up costs related to the Company’s growth projects were approximately $137 million, or $0.43 per diluted share, in the second quarter of 2024, compared with approximately $125 million, or $0.39 per diluted share, in the first quarter of 2024 and approximately $90 million, or $0.27 per diluted share, in the second quarter of 2023. In the first six months of 2024, pre-operating and start-up costs related to the Company’s growth projects were approximately $262 million, or $0.82 per diluted share, compared with approximately $172 million, or $0.52 per diluted share, in the first six months of 2023. Overall, operating rates at the Company’s steel mills decreased to 75% in the second quarter of 2024, compared to 82% in the first quarter of 2024 and 84% in the second quarter of 2023. Operating rates in the first six months of 2024 decreased to 79%, compared to 82% in the first six months of 2023. Financial Strength At the end of the second quarter of 2024, we had $5.43 billion in cash and cash equivalents and short-term investments on hand. The Company’s $1.75 billion revolving credit facility remains undrawn and does not expire until November 2026. Nucor continues to have the strongest credit ratings in the North American steel sector (A-/A-/Baa1), with stable outlooks at Standard & Poor’s and Fitch Ratings and a positive outlook at Moody’s. Commitment to Returning Capital to Stockholders During the second quarter of 2024, Nucor repurchased approximately 2.9 million shares of its common stock at an average price of $170.70 per share (approximately 8.5 million shares during the first six months of 2024 at an average price of $177.30 per share). As of June 29, 2024, Nucor had approximately $1.82 billion remaining authorized and available for repurchases under its share repurchase program. This share repurchase authorization is discretionary and has no scheduled expiration date. On June 6, 2024, Nucor’s Board of Directors declared a cash dividend of $0.54 per share. This cash dividend is payable on August 9, 2024, to stockholders of record as of June 28, 2024, and is Nucor’s 205th consecutive quarterly cash dividend. Second Quarter of 2024 Analysis The largest driver of the decrease in earnings in the second quarter of 2024 as compared to the first quarter of 2024 was the decreased earnings of the steel mills segment, primarily due to lower average selling prices and, to a lesser extent, decreased volumes. The steel products segment had decreased earnings in the second quarter of 2024 as compared to the first quarter of 2024 due to lower average

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NPE2024 unveils official registration and exhibit space data

Tue, 16 Jul 2024 15:08:00 +0000

NPE2024: The Plastics Show announced its final registration and paid exhibit space results, totaling 51,396 registrants and 1,106,767 square feet, respectively. Held from May 6-10 in Orlando, Florida, NPE2024 saw a record-breaking number of international attendees, first-time attendees, and paid exhibit space. “NPE2024 was truly a momentous event in plastics industry history,” said Matt Seaholm, PLASTICS’ Chief Executive Officer, “With an outstanding international turnout, NPE2024 is re-established as a global hub for the plastics industry, welcoming professionals and innovators from around the world. As we look ahead to our next show in 2027, we’re seeing incredible potential for more industry-shaping collaboration to establish a new standard for circularity and ground-breaking plastic applications.” Additional NPE2024 numbers include: 15,156 international registrants from 133 countries, establishing NPE2024 as the most global show in the event’s history. 36,123 domestic registrants, 70% of all registrants (this does not include 0.23% who did not respond). 20,378 first-time attendees, a nearly 9% increase over NPE2018. With the outstanding number of NPE2024 international registrations, the results also revealed a significant growth in attendance across different regions, including: 4,438 Latin American (LATAM) registrants, 29.3% of international registration and a 9.9% increase of LATAM registrations compared to NPE2018. Significant registration increases were seen in Brazil, Colombia, and Guatemala. There were 2,801 European registrants, 18.5% of international registrations, and a 23% increase of European registrations over NPE2018, with the largest registration increase from Italy. “This growing presence of European and LATAM registrants is indicative of the respective countries’ impact on the plastics industry,” said Dr. Perc Pineda, PLASTICS’ Chief Economist. “As the US is the second largest importer of plastics machinery, accounting for 12% of global imports, European countries make up six of the top ten countries supplying the US in 2023, totaling $1.6 billion. Similarly, over the past five years, US exports of plastics machinery to Latin America have also grown by 6.5% annually, supporting the region’s expanding plastics industry.” In addition to the attendance results, NPE2024 marked the largest show in history with the following exhibit space statistics: 1,106,767 total paid exhibit space, designating an additional 10,581 square feet over NPE2018 2,202 exhibitors, a 10.3% increase over NPE2018. NPE2027 is set to return to Orlando from May 3-7, 2027.

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Wildeck, Inc. provides platforms for media at 2024 Republican National Convention

Mon, 01 Jul 2024 20:30:33 +0000

The RNC has sourced a local Milwaukee-area manufacturer, Wildeck, Inc., to provide structural steel platforms supporting media team members and TV camera equipment Wildeck, Inc., a material handling equipment manufacturer, has played a role in designing and manufacturing structural steel platforms (mezzanines) for the upcoming 2024 Republican National Convention. The event is set to take place from July 15 to 18, 2024, at the Fiserv Forum in Milwaukee, less than 20 miles from Wildeck’s headquarters in Waukesha, Wis. In partnership with Willoughby, Ohio-based Morrison Company, a prominent Systems Integrator in the material handling and storage industry, Wildeck has delivered two custom-designed platforms to support the media suites and additional smaller platforms for TV camera equipment. The media suite platforms, 975 sq ft and 1,450 sq ft in size, were designed to fit within the shape of the arena bowl, while the camera platforms were engineered with high rigidity to ensure stable televised coverage. Jim Green, president of Morrison Company, stated, “As Morrison Company has come to expect from Wildeck as our mezzanine partner over the past 30 years, we obtained competitive pricing, detailed engineering, and on-time production for this project. Wildeck gave this project the dedicated attention required to meet all deadlines, including production design, pricing, installation drawings, and extremely tight delivery schedules.” The collaboration between Morrison Company and Wildeck is rooted in their successful history of similar projects, including the 2016 Republican National Convention in Cleveland. The RNC Staging Contractor expressed confidence in the Morrison/Wildeck team’s ability to meet the challenging timeline due to their proven track record. Dan Lorenz, president of Wildeck, Inc., commented, “This has been an exciting opportunity and partnership with Morrison Company to design, build, and install highly sensitive motion-free platforms for the RNC at Fiserv Forum. I am very proud of my team for once again raising the bar in standard and custom platform designs.” Wildeck’s platforms for the event were manufactured using USA steel and local union labor was employed for the installation, aligning with the values and standards expected for such a significant national event.

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