PROCUREMENT & SUPPLY CHAIN
Sealed Air Corporation | December 12, 2022
Highcon (TASE: HICN) today announced a $8M investment by Sealed Air Corporation (NYSE: SEE) in the context of a strategic collaboration between the two companies.
The scope of the strategic collaboration includes the following components:
Developing new product offerings, expansion into new segments and enabling manufacturing efficiencies by leveraging Highcon technology
$8M investment in the form of convertible debt and 15% warrants to be converted by the 5th anniversary of the Effective Date at a price of 3.1 NIS per share.
Additional warrants to be granted against possible future purchases up to $20 million of Highcon's products and services over a period of 3 years.
SEE, with revenues of $5.5B in 2021, is in business to protect, solve critical packaging challenges, and "make our world better than we find it." SEE has identified that Highcon's digital paperboard converting capabilities and its unequalled knowhow around laser cutting of paperboard can support and accelerate their vision and business objectives.
The strategic collaboration includes the purchasing of a Highcon Beam 2C system for delivery and installation in the first quarter of 2023. The in-house presence of the system will allow SEE to accelerate the testing of new designs and products, as well as the manufacturing and delivery of corrugated products to the company's customers.
"Over the past months, the SEE team has been really impressed with the talent at Highcon and the company's culture. Highcon's technology and capabilities represent a meaningful opportunity for SEE, Highcon's sustainability value proposition aligns with and can help us advance our vision and plans. The roadmap we are developing together is exciting, and our investment in Highcon is a natural first step in this context."
-Sergio Pupkin, SVP and Chief Growth & Strategy Officer, SEE.
SEE is taking Highcon's technology to places that were beyond the way that we typically defined our market opportunity. Growing that opportunity, entering new application spaces, and working together with a world class partner is very exciting, said Shlomo Nimrodi, Highcon's CEO. It's particularly gratifying to see how SEE reacted to the talent and passions of the Highcon team, and their recognition of the strategic value of our technology. I'm confident that it's just the beginning as we prove our value to SEE to enable further expansion of our relationship. I'm proud of what we've built so far at Highcon, and with this strategic partnership, we can move farther and faster. We are certainly expecting that this collaboration will have positive impact on the company's existing business.
In recent months, teams from Highcon and SEE have collaborated to explore the application of Highcon's solutions and technology to a range of different activities. "We've demonstrated that Highcon offers so much more than might at first meet the eye," added Nimrodi. I am proud that we've been able to reach an agreement like this despite the current challenging environment.
Highcon develops, markets, sells and supports a portfolio of digital cutting and creasing systems that cover a wide range of formats, substrates and applications. The Highcon technology is transforming the industry, by providing cost effective solutions to the increasing manufacturing inefficiencies facing folding carton and corrugated carton manufacturers as the result of the emerging market trends of e-commerce, shorter time to market, lower job sizes and a drive to sustainability. Such requirements cannot be accommodated by the expensive and slow conventional die-making and setup process. The Highcon digital technology bridges the gap between agile production and design flexibility delivering improved responsiveness, JIT production, short runs, customization of structure and design, and the ability to perform a wide range of applications in-house. Highcon products are installed at customer sites around the world, including some multi-national companies, effectively supporting the needs of global and local brands. Highcon is publicly traded in the Tel Aviv Stock Exchange (HICN) and its leading investors are Landa Ventures owned by Benny Landa and JVP led by Erel Margalit
PROCUREMENT & SUPPLY CHAIN
Tempo Automation | January 31, 2023
On January 30, 2023, Tempo Automation Holdings, Inc. has updated its Accelerated Electronics Manufacturing Platform with new management tools to provide real-time visibility and manage the inventory aspect across projects and prototype buildings, protecting clients against potential supply chain problems in the electronics sector.
At the core of this new update lies Tempo’s very own inventory management system and will manage and update the status of every electronic component in real-time, from receiving, storage, manufacturing, and production. It is designed specifically for the requirements of quick-turn electronic manufacturing with a high, mix or low volume.
CEO of Tempo, Joy Weiss, said, "Our customers rely on us to rapidly source materials from numerous vendors, then consolidate inventory into our warehouse to support their product development." She further added, "Given the impact that industry component shortages have had on our customers, we invested in upgrading our platform to provide real-time, traceable inventory management at the customer, project, and component level."
(Source – Globe Newswire)
It will protect clients against instability in the market of electronic components, warn about critical components beforehand. It will also help them assign the components to their prototype and demanded product builds to market quickly and avoid re-design expenses. It also offers solutions to domestic electronics manufacturing at crucial times. It provides rapid Printed Circuit Board Assembly (PCBA) prototyping, on-demand manufacturing, digital thread from design to delivery, and virtual tours in the factory. Its PCBA capabilities include HDI, rigid, fine-pitch BGA and QFN assembly and stacked micro-vias. Its class 2 and 3 productions have ISO9001:2015, AS9100D, and ISO13485:2016 certifications.
About Tempo Automation
Tempo Automation is one of the prominent software companies providing electronics manufacturing solutions and launching electronic products in the market. It's Accelerated Electronics Manufacturing Platform assists with PCBA manufacturing to offer fast and the best solution to low-volume manufacturers. Headquartered in San Francisco, California, the company’s digital automation, data intelligence and vast network enables its clients to cope with the competition. Tempo provides solutions to various industries from rockets, robots, autonomous cars, drones, technology, medial and space.
ADDITIVE MANUFACTURING,3D PRINTING
3DEO Inc. | January 30, 2023
3DEO, the leading design, engineering, and manufacturing organization known as the world's highest-volume metal 3D printing service, recently announced the launch of 316L austenitic stainless steel. The material is now accessible to customers in all industries, particularly medical, industrial, marine, and food processing.
316L (equivalent to UNS S31603) is an entirely austenitic, non-magnetic stainless steel with outstanding ductility and mechanical performance. It maintains excellent performance at both room and moderately elevated temperatures. In addition, this weldable material is highly corrosion-resistant, making it perfect for use in harsh environments.
316L is typically used for impellers and pumps, laboratory equipment, engine parts, jewelry, food processing equipment, kitchen appliances, surgical instruments, marine, chemical, and petrochemical processing, among other uses.
3DEO assists customers with complex metal components at all product life cycle stages, from early conception and prototyping to large-scale manufacturing. Since prototypes are produced on the same machinery and technology as more extensive production runs, customers can smoothly transition from prototype to production with 3DEO without requiring lengthy or costly design revisions or requalifications to launch products.
Along with 17-4PH stainless steel, 316L marks the latest expansion to the company's materials division, with a growing number of new materials being tested and set to release in 2023. One of such metals in development is pure copper, which will be available in Q2.
Founded in 2016, 3DEO is one of the world's highest-volume metal 3D printing companies. It is a differentiated service provider offering its customers trustworthy end-to-end solutions using its proprietary technology. It manufactures 3D-printed precision metal components with Intelligent Layering®, its patented metal 3D printing technique. 3DEO distinguishes itself from other manufacturers with its collaborative partnership approach to early-stage design, proprietary technology, and experience in complicated geometries and design for additive manufacturing (DfAM). In addition, the company developed the Manufacturing Cloud™, an end-to-end manufacturing platform designed to mass-produce its proprietary metal 3D printers using 3D printing, software, robotics, augmented reality, automation, and materials innovation.