Industrial group

Snap-on Announces Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Thursday, February 8, 2024
Automotive Manufacturing, Aftermarket, Aerospace, Automotive, Manufacturing, Construction & Property, Other Manufacturing, Engineering, Machinery, Other Construction & Property, Machine Tools, Metalworking & Metallurgy, Growth, Consolidated, Financial services, OEM, Failure, Environment, Public expenditure, SNA, Snap, Commercial, Corporation, Industrial group, Central Time, Acquisition, Download, Conference, Video game

Operating earnings before financial services for the quarter of $257.9 million compared to $248.0 million in 2022.

Key Points: 
  • Operating earnings before financial services for the quarter of $257.9 million compared to $248.0 million in 2022.
  • As a percentage of net sales, operating earnings before financial services were 21.6% in the fourth quarter compared to 21.5% last year.
  • The fourth quarter effective income tax rate was 21.4% in 2023 and 22.0% in 2022.
  • Originations of $303.1 million in the fourth quarter represented an increase of $3.4 million, or 1.1%, from 2022 levels.

L.B. Foster Company Announces the Expansion of its Board of Directors and Election of David J. Meyer

Retrieved on: 
Thursday, December 21, 2023
Business, Army Reserve, Acquisition, Business administration, Army, Purdue University, Wabtec, Entrepreneurship, University, Knowledge, David G. Booth, Engineering, Eaton Corporation, Industrial group, Transit

Mr. Meyer brings a wide range of knowledge and skills to the board that includes over 28 years of manufacturing experience, including 23 years in the rail industry.

Key Points: 
  • Mr. Meyer brings a wide range of knowledge and skills to the board that includes over 28 years of manufacturing experience, including 23 years in the rail industry.
  • Foster Chairman of the Board of Directors, commented on the appointment, “The Board is excited to have David join the Company.
  • His engineering, manufacturing, and global public and private company skills add depth to the Board in critical areas for the Company.
  • We look forward to his contributions to the Board and management as we drive shareholder value.”

Snap-on Acquires Mountz, Inc.

Retrieved on: 
Tuesday, November 7, 2023
Machine Tools, Metalworking & Metallurgy, Automotive Manufacturing, Aerospace, Manufacturing, Other Manufacturing, Machinery, SNA, Transport, Torque, Acquisition, Commercial, NYSE, Calibration, Industrial group, Medical device, Electric motor, 3D printing, Mick Mountz

Based in San Jose, California, Mountz is a leading developer, manufacturer, and marketer of high-precision torque tools, including measurement, calibration, and documentation products.

Key Points: 
  • Based in San Jose, California, Mountz is a leading developer, manufacturer, and marketer of high-precision torque tools, including measurement, calibration, and documentation products.
  • The acquisition of Mountz complements and expands Snap-on’s torque offerings to customers in a variety of industries including aerospace, transportation, and advanced manufacturing.
  • Applications range from assembly of electric vehicle batteries to production of charging infrastructure to fabrication of microelectronic componentry, including chips.
  • Mountz will be part of the company’s Commercial & Industrial Group.

Snap-on Announces Third Quarter 2023 Results

Retrieved on: 
Thursday, October 19, 2023
Automotive Manufacturing, Construction & Property, Aerospace, Manufacturing, Technology, Other Automotive, General Automotive, Aftermarket, Other Manufacturing, Machinery, Automotive, Software, Machine Tools, Metalworking & Metallurgy, HVAC, Other Construction & Property, Consolidated, OEM, SNA, NYSE, Financial services, Public expenditure, Corporation, Conference, Organization, Acquisition, Enerpac Tool Group, Engineering, News, Environment, Growth, Commercial, Professional Tool & Equipment News, Central Time, Download, Real Time Information Group, Failure, Snap, Industrial group, Tutoring, Fine chemical, Retail, Video game, Webcast

Snap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks, today announced operating results for the third quarter of 2023.

Key Points: 
  • Snap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks, today announced operating results for the third quarter of 2023.
  • Operating earnings before financial services for the quarter of $245.2 million compared to $223.5 million in 2022.
  • Financial services revenue in the quarter of $94.9 million compared to $87.3 million in 2022; financial services operating earnings of $69.4 million compared to $66.4 million last year.
  • The third quarter effective income tax rate was 22.6% in 2023 and 21.6% in 2022.

Snap-on Announces Second Quarter 2023 Results

Retrieved on: 
Thursday, July 20, 2023
Automotive Manufacturing, Construction & Property, Aerospace, Manufacturing, Technology, Other Automotive, General Automotive, Aftermarket, Other Manufacturing, Machinery, Automotive, Software, Machine Tools, Metalworking & Metallurgy, HVAC, Other Construction & Property, Failure, Financial services, Industrial group, Download, Central Time, Snap, Public expenditure, Acquisition, Real Time Information Group, Corporation, SNA, Growth, Commercial, Consolidated, OEM, Environment, Conference, NYSE, Enerpac Tool Group, Cryptocurrency, Tutoring, Retail, Fine chemical, Video game, Webcast

Snap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks, today announced operating results for the second quarter of 2023.

Key Points: 
  • Snap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks, today announced operating results for the second quarter of 2023.
  • As a percentage of net sales, operating earnings before financial services of 23.3% in the second quarter compared to 21.7% last year, reflecting an improvement of 160 basis points.
  • The second quarter effective income tax rate was 22.9% in 2023 and 23.8% in 2022.
  • Originations of $326.3 million in the second quarter represented an increase of $18.7 million, or 6.1%, from 2022 levels.

K&N Engineering Joins Infrastructure Masons to Advance Sustainable Digital Infrastructure

Retrieved on: 
Tuesday, May 9, 2023
Filter (signal processing), Engineering, Industrial group, K&N Engineering, Carbon, Renewable energy, Sustainability

RIVERSIDE, Calif., May 9, 2023 /PRNewswire/ -- In a move that reinforces its commitment to building sustainable digital infrastructure, K&N Engineering has joined forces with Infrastructure Masons (iMasons), the global non-profit association of digital infrastructure professionals. As a leading manufacturer of high-performance, sustainable air filtration solutions for providers of mission-critical infrastructure, K&N Engineering is uniquely positioned to contribute to iMasons' efforts to promote energy efficiency, renewable energy, and the path toward net zero in the data center industry.

Key Points: 
  • RIVERSIDE, Calif., May 9, 2023 /PRNewswire/ -- In a move that reinforces its commitment to building sustainable digital infrastructure, K&N Engineering has joined forces with Infrastructure Masons (iMasons) , the global non-profit association of digital infrastructure professionals.
  • "As the world increasingly relies on digital infrastructure, it's essential that we prioritize sustainability in our industry," said Jonathan Fiello, Chief Engineering Officer of K&N Engineering.
  • "I'm proud to welcome K&N Engineering to the iMasons community," said Dean Nelson, Founder and Chairman of Infrastructure Masons.
  • By joining iMasons, K&N Engineering brings its expertise and commitment to sustainability to a network of industry experts and thought leaders who are dedicated to advancing sustainable and efficient digital infrastructure.

Snap-on Announces First Quarter 2023 Results

Retrieved on: 
Thursday, April 20, 2023
Software, Construction & Property, Aftermarket, Automotive, Other Automotive, Technology, General Automotive, Other Construction & Property, Failure, Financial services, Industrial group, Download, Central Time, Snap, Public expenditure, Acquisition, Real Time Information Group, Corporation, SNA, Growth, Commercial, Consolidated, OEM, Environment, Conference, NYSE, Enerpac Tool Group, Tutoring, Retail, Fine chemical, Video game, Webcast

Snap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks, today announced operating results for the first quarter of 2023.

Key Points: 
  • Snap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks, today announced operating results for the first quarter of 2023.
  • Operating earnings before financial services for the quarter of $259.8 million compared to $223.1 million in 2022.
  • Financial services revenue in the quarter of $92.6 million compared to $87.7 million in 2022; financial services operating earnings of $66.3 million compared to $70.4 million last year.
  • The first quarter effective income tax rate was 23.1% in 2023 and 23.7% in 2022.

UL Solutions and the National Renewable Energy Laboratory Announce the Publication of Cybersecurity Certification Requirements for Distributed Energy and Inverter-Based Resources

Retrieved on: 
Tuesday, April 18, 2023
National Renewable Energy Laboratory, OOI, DER, U.S. Department of Defense Strategy for Operating in Cyberspace, Outline, Generator, Industrial group, Melewar Industrial Group Berhad, Power inverter, DOE, Standard, UL, U.S. Department of Energy, Office of Inspector General, Certification, South West Interconnected System, IBR, Converter, Principal, IBRS, Controller, Der, NREL, Computer security, Renewable energy, Medical device

Developed in cooperation with the U.S. Department of Energy's (DOE's) National Renewable Energy Laboratory (NREL), UL 2941 provides testable requirements for energy storage and generation technologies on the distribution grid.

Key Points: 
  • Developed in cooperation with the U.S. Department of Energy's (DOE's) National Renewable Energy Laboratory (NREL), UL 2941 provides testable requirements for energy storage and generation technologies on the distribution grid.
  • UL 2941 includes requirements for photovoltaic inverters, electric vehicle chargers, wind turbines, fuel cells and other resources essential to advancing grid operations.
  • UL 2941 will also help promote the need to have cybersecurity designed into new inverter-based resources (IBR) and distributed energy resource (DER) systems.
  • "The publication of UL 2941 is a milestone toward securing the distributed generation industry," said Danish Saleem, senior energy systems cybersecurity engineer at NREL.

Ecolab Names Nicholas (Nick) Alfano as President of Global Industrial Group

Retrieved on: 
Monday, April 3, 2023
Technology, Manufacturing, Health, Environmental Issues, General Health, Environmental Health, Other Technology, Other Manufacturing, Green Technology, Environment, Sustainability, Inc., Food, Global Industrial, Aladdin (food & beverage containers), Marketing, Industrial group, Australian Industry Group, Food safety, Foodservice, Darrell, Hygiene, Nalco Water, Running, Water, Growth, Transport, Management, Ecolab

Ecolab Inc., a global sustainability leader offering water, hygiene and infection prevention solutions and services that protect people and resources vital to life, announced today that Nick Alfano has been appointed as executive vice president and president of Ecolab’s Global Industrial Group effective immediately.

Key Points: 
  • Ecolab Inc., a global sustainability leader offering water, hygiene and infection prevention solutions and services that protect people and resources vital to life, announced today that Nick Alfano has been appointed as executive vice president and president of Ecolab’s Global Industrial Group effective immediately.
  • Ecolab’s Global Industrial Group, which reported nearly $7 billion in revenue in 2022, includes Nalco Water – Ecolab’s water and process management business – and Food & Beverage, a leading food safety provider.
  • “Ecolab’s Global Industrial Group continues to drive major growth and innovation for our customers,” said Christophe Beck, Ecolab chairman and chief executive officer.
  • He will build on Darrell Brown’s exceptional leadership of this Group until his promotion to President and Chief Operating Officer last October.

Taurus Industrial Group Acquires Bolttech Mannings, Growing its Footprint in the Power Generation Market and Adding Highly Technical Services to its Offering

Retrieved on: 
Tuesday, February 14, 2023
Other Manufacturing, Steel, Engineering, Other Energy, Chemicals, Plastics, Utilities, Oil, Gas, Manufacturing, Energy, Multimedia, Acquisition, Industrial group

Taurus Industrial Group (“Taurus”), a portfolio company of SCF Partners (“SCF”), is pleased to announce its acquisition of Bolttech Mannings, Inc. (“BMI”), a leading provider of technical bolting, heat treating, leak sealing, and non-destructive testing services to the North American power generation, downstream, and industrial markets.

Key Points: 
  • Taurus Industrial Group (“Taurus”), a portfolio company of SCF Partners (“SCF”), is pleased to announce its acquisition of Bolttech Mannings, Inc. (“BMI”), a leading provider of technical bolting, heat treating, leak sealing, and non-destructive testing services to the North American power generation, downstream, and industrial markets.
  • BMI’s service offerings, geographic footprint, and customer relationships are highly synergistic with those of Taurus and help increase its presence in key industry sectors.
  • View the full release here: https://www.businesswire.com/news/home/20230214005370/en/
    “We’re excited to add Bolttech to the Taurus Industrial Group family,” says Hari Gopu, CEO of Taurus.
  • “We look forward to supporting management‘s efforts to capitalize on the significant cross-selling opportunities and continue building out a broader service offering that meets the evolving needs of our customers.”