LEADERSHIP AND STRATEGY
Novaria Group | January 14, 2022
On January 12, Novaria Group announced the acquisition of Hydro Fitting Manufacturing Corporation, a maker of bespoke high-pressure valves, charging kits, hose assemblies, and fittings for the aerospace and military industries. This is Novaria's sixth purchase since April 2020, as the company's broad family of aerospace and military components continues to grow. However, the deal's terms have not been made public.
Hydro Fitting was founded in 1962 and incorporated in 1981. The company serves clients in the aerospace, commercial automobiles, mining, heavy equipment, and military industries. Novaria's current fitting operation, Acra Aerospace, will remain headquartered in Covina, California.
"We’re excited to embark on our relationship with Hydro Fitting,They have a proven track record in manufacturing and supplying components that are vital to the aerospace and defense industries, which fits perfectly within Novaria’s vision and product strategy. I have personally admired their defense products and superb customer service for over two decades and am excited to welcome them to our family."
-Novaria CEO Bryan Perkins.
Novaria General Manager Jed Burmahln added, Hydro Fitting provides specialty expertise that we at Novaria value. It will be a great addition to our engine and airframe fitting business lines.We look forward to Novaria continuing to build on the foundation we’ve established at Hydro Fitting,President Seth Schwartz said. Becoming part of Novaria represents many things for Hydro Fitting – opportunity, market access, growth – all of which we couldn’t be more excited about.
Nortech Systems | August 31, 2020
Nortech Systems Incorporated, a leading provider of engineering and manufacturing solutions for complex electromedical and electromechanical products serving the medical, aerospace & defense and industrial markets, announced that it has completed the sale and leaseback transactions for its manufacturing facilities in Bemidji and Mankato, Minnesota at a sale price of $6.3 million. The proceeds from the sale will be used to pay down debt as well as related expenses and taxes.
Concurrent with the closing on the sale, Nortech entered into long-term lease agreements for the Bemidji and Mankato, Minnesota facilities for an initial 15-year term, with multiple renewal options. "We are pleased with the successful execution of this sale and leaseback transaction which generated significant net cash proceeds. Following the debt repayment, Nortech’s balance sheet and working capital is positioned for investments in capital equipment and strategic initiatives," stated Jay D. Miller, Chief Executive Officer and President.
prnewswire | November 16, 2020
Essity, a main worldwide cleanliness and wellbeing organization, has extended its assembling limit with regards to Tork PeakServe Continuous Hand Towels. The new lines, situated in Harrodsburg, KY, will help uphold an expanded interest for this honor winning hand towel framework in the midst of the COVID-19 pandemic.
The Tork PeakServe® Continuous Hand Towel System was acquainted with North America in January 2018 and has changed the hand towel class. The ceaseless framework:
Highlights Connected Towel Bundles: towels hook onto each other when stacked and remain associated with easily apportion each towel in turn without interruptionꟷensuring visitors just touch the towel they use, improving cleanliness.
Serves Customers in Three Seconds: so visitors can move all through the bathroom rapidly, encouraging better social separating.
Builds Dispenser Capacity: protected innovation packs each towel group by half, bringing about 2,100 towels for every gadget, diminishing the danger of towel runouts.
Permits Staff to Focus on Pressing Cleaning Needs: high limit diminishes the requirement for continuous container checks and tops off, subsequently saving chance to zero in on cleaning and sterilizing.
In April 2020, Tork presented extra distributor designs, Tork PeakServe® Mini and Tork PeakServe® Recessed Cabinet Adapters, which make it simpler for clients to retrofit all bathrooms and exploit utilizing a similar towel top off all through the whole office, paying little mind to existing formats.
Paper hand towels not just assume a significant function in improving hand cleanliness, but at the same time are the favored hand drying decision among clients. As indicated by a Tork overview directed in April 2020, 68% of individuals incline toward hand towels over air dryers, and 70% concur or emphatically concur that they wish more offices offer paper hand towels as a choice to air dryers.
"Amid the pandemic, we've seen how Tork PeakServe is helping businesses support handwashing, which is critical to preventing the spread of COVID-19," said Don Lewis, President of Professional Hygiene at Essity. "The introduction of these two production lines marks an important step in Essity's response to an increased demand for effective hygiene solutions and demonstrates our continued commitment to helping customers meet a new hygiene standard."
Tork is devoted to sharing its worldwide cleanliness skill and conveying a wide scope of imaginative items and arrangements that help clients and wholesalers secure another cleanliness standard.
Essity is a leading global hygiene and health company. We improve people's well-being through our products and services. Sales are conducted in approximately 150 countries under the leading global brands TENA and Tork, and other strong brands, such as JOBST, Leukoplast, Libero, Libresse, Lotus, Nosotras, Saba, Tempo, Vinda and Zewa. Essity has about 46,000 employees. Net sales in 2019 amounted to approximately $13.5 billion. The headquarters is located in Stockholm, Sweden, and Essity is listed on Nasdaq Stockholm. Essity breaks down barriers for improved well-being and contributes to a healthy, sustainable and circular society.
The Tork brand offers professional hygiene products and services to customers worldwide ranging from restaurants and healthcare facilities to offices, schools and industries. Our products include dispensers, paper towels, toilet tissue, soap, napkins, wipers, but also software solutions for data-driven cleaning. Through expertise in hygiene, functional design and sustainability, Tork has become a market leader that supports customers to think ahead so they're always ready for business. Tork is a global brand of Essity, and a committed partner to customers in over 110 countries.