LEADERSHIP AND STRATEGY

CORE Industrial Partners Portfolio Company CGI Automated Manufacturing Acquires Richlind Metal Fabricators

CORE Industrial | February 03, 2022

CORE Industrial Partners Portfolio
On February 2, CORE Industrial Partners, a Chicago-based private equity firm, announced the purchase of Richlind Metal Fabricators by CORE portfolio company CGI Automated Manufacturing. Richlind Metal Fabricators provides precision sheet metal fabrication and machining services. Richlind is the third purchase to be added to the CGI platform CORE, which launched in August 2021. In the transaction, CGI and CORE were represented by Winston & Strawn LLP.

Richlind was founded in 1963 and specializes in complicated, close precision components and assemblies for aviation, defense, and space applications. The company’s range of in-house capabilities, including sheet metal fabrication, machining, welding, assembly, engineering, forming, punching, laser and waterjet cutting, and silk-screening, allows Richlind to act as a one-stop-shop from prototyping through production.

Holding ISO9001:2015 and AS9100D certifications and an ITAR registration, the company utilizes a leading quality management system that addresses all stages of manufacturing, beginning with a computerized work order system and incorporating a network of qualified suppliers, production departments, quality inspection, packaging, and shipping, and facilitates the efficient handling of hundreds of jobs simultaneously. Richlind's headquarters are in Chaska, Minnesota, where the company operates out of a 50,000-square-foot building.

 "Our acquisition of Richlind serves as the latest example of CORE’s deep experience partnering with multi-generational family-owned businesses." We believe the company’s highly technical manufacturing capabilities and advanced technologies are an ideal fit, and we look forward to continuing to grow the CGI platform through similar complementary acquisitions. "

-Matthew Puglisi, Partner at CORE

Richlind's President, Mike Lind, said, From the company’s founding nearly 60 years ago to our current position as a best-in-class aerospace and defense precision manufacturing services provider, we’ve built our business through exemplary customer service and investment in leading technology. On behalf of me, my brothers, Dan, Dave, and Chris, and all Richlind employees, we’re looking forward to augmenting these core success factors with additional resources and support in partnership with CGI and CORE.

Spotlight

Part of SME's Manufacturing Insights video series, this program examines how manufacturing companies are using lean tooling as an integral part of lean manufacturing to immediately cut costs, drastically reduce production lead time, and ensure quality. This program will help you organize your tooling so you can find every tool you need in less than 30 seconds. It will help you get tooling ready faster so that setup time is minimized. It will help you be able to rely on your tools for precision, so inspection time can be eliminated. The program will also show you ways of reducing administrative tooling costs by demonstrating kanban systems for keeping track of tooling inventory.

Spotlight

Part of SME's Manufacturing Insights video series, this program examines how manufacturing companies are using lean tooling as an integral part of lean manufacturing to immediately cut costs, drastically reduce production lead time, and ensure quality. This program will help you organize your tooling so you can find every tool you need in less than 30 seconds. It will help you get tooling ready faster so that setup time is minimized. It will help you be able to rely on your tools for precision, so inspection time can be eliminated. The program will also show you ways of reducing administrative tooling costs by demonstrating kanban systems for keeping track of tooling inventory.

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Kyocera Unveils “CAM” Customized 3D Printing for Medical Device Prototypes at MD&M West

Kyocera | August 13, 2021

Kyocera, a leader in ceramics-based medical devices, will unveil its “CAM” (ceramic additive manufacturing) customized 3D printing service for cost-effective prototypes of new medical device designs at the MD&M West Medical Expo in Anaheim, Calif., August 10-12, the world’s largest annual convention for medical product designers and manufacturers. Kyocera’s new service utilizes both zirconia and alumina materials in a wide variety of shapes, a size range of 200 x 105 x 40mm and wall thickness of 0.25-10mm. The simple 3-step process rapid-produces samples: simply send a 3D CAD file, complete a consultation the next day and then prototypes are created in 1-2 weeks*. Additionally, Kyocera will also be showcasing its wide range of ceramics-based medical technologies during the expo. Rapid Custom Samples with CAM Incorporating 60+ years of product development expertise, Kyocera’s engineers consult on each new project and devise the most cost-effective method for a 3D printed prototype of new medical device designs. With that consultation and 3D printing using zirconia and alumina, Kyocera is able to produce virtually any kind of customized prototype in 1-2 weeks. Kyocera’s ceramics offer scratch resistance, higher rigidity, temperature resistance, longer lifetime, high-voltage insulation, lighter weight, and superior thermal management, providing an overall lower cost of ownership. Additive Manufacturing According to MD&M West, the global medical device manufacturing market is expected to exceed $200 billion by 2025, largely due to an aging population, chronic disease and advancements in technology to help various conditions. Kyocera continues to use its unique ceramic “superhero” materials to help advance medical technologies. The Company’s Fine Ceramics provide a highly durable, long-lasting, non-reactive material that can be found in solutions for genetic sequencing; microfluidic tools; X-ray, PET, MRI and CT scan machines; pacemakers and cardiac monitors; neuromodulation devices; surgical tools; drug testing devices and orthopedic joint replacement systems. Information on these innovative ceramic medical solutions and more will be on display at Kyocera’s booth throughout the show. About KYOCERA Kyocera Corporation (TOKYO: 6971), the parent and global headquarters of the Kyocera Group, was founded in 1959 as a producer of fine ceramics (also known as “advanced ceramics”). By combining these engineered materials with metals and integrating them with other technologies, Kyocera has become a leading supplier of industrial and automotive components, semiconductor packages, electronic devices, smart energy systems, printers, copiers, and mobile phones. During the year ended March 31, 2021, the company’s consolidated sales revenue totaled 1.5 trillion yen (approx. US$13.8 billion). Kyocera is ranked #603 on Forbes magazine’s 2021 “Global 2000” list of the world’s largest publicly traded companies, and appears on The Wall Street Journal’s latest list of “The World’s 100 Most Sustainably Managed Companies.”

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DIGITAL TRANSFORMATION

The Tesla Supercharger in Santa Monica will accept Dogecoin

Tesla | February 23, 2022

On February 19, Tesla CEO Elon Musk announced on Twitter that the company's supercharging station would take cryptocurrency Dogecoin as payment. "Of course, you can pay in Ðoge (sic), "said Musk in response to a tweet from Tesla Console creator Ryan Zohoury, who stated that the new Santa Monica Superchargers were nearly full minutes after opening. Following this, Dogecoin's price increased, trading at 11.1635, up 3.22 percent. This comes just days after Musk stated that Tesla Inc. products, like the "Cyberwhistle" and "Cyberquad for Kids," will be available using Dogecoin. Musk announced in December that Tesla would try to accept Dogecoin as payment for items. Tesla's CEO, a prominent proponent of Dogecoin on social media, has previously hinted at the move. In addition, multiple reports said that Tesla's website source code had a Dogecoin payment option in the last few days. In a recent interview, he also promoted Dogecoin over any other cryptocurrency. "The transaction value of Bitcoin is low, and the cost per transaction is high. At least at a space level, it is suitable as a store of value. But fundamentally, Bitcoin is not a good substitute for transactional currency, " -Elon MuskTesla CEO adding that even though Dogecoin was created as a silly joke, it is better suited for transactions. Musk was a big supporter of digital currencies at work, and he played a significant role in making Dogecoin popular. Meanwhile, Musk stated last year that Bitcoin mining has been shifting "toward renewable energy sources." "his business would almost certainly reintroduce cryptocurrency as a method of payment for its electric vehicles. Musk said that hydropower, geothermal, and nuclear energy are all excellent energy sources for Bitcoin mining. If mining uses 50% or more renewable energy, Tesla will accept Bitcoin again. Tesla stopped buying Bitcoin in May 2021 because it was worried about the fossil fuel used in mining. This led to a drop in the value of digital currency. In a tweet Thursday, he expressed concern over the "huge use" of coal and other carbon-intensive energy sources to generate the electricity required for cryptocurrency mining. In February of last year, Tesla said that it had bought $1.5 billion worth of Bitcoin and planned to accept it as payment. This caused both the company's stock and the Bitcoin value to rise.

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MANUFACTURING TECHNOLOGY

CGI opens new global innovation center dedicated to Industry 4.0 in Toulouse, France

CGI Inc | October 21, 2021

CGI has opened a new global innovation center dedicated to Industry 4.0 in the heart of the Occitanie region in Toulouse, France. This latest center completes a network of global innovation centers established by CGI in France, including centers dedicated to digital transformation (Montpellier), commerce and consumer services (Lille) and supply chain digitization (Lyon). As the cradle of industry in France, Toulouse and the surrounding region are home to several high-tech industries, including aeronautics, pharmaceuticals and agri-food,Therefore, the choice to set up this new center in the region of Occitanie was obvious; we want be in close proximity to leading manufacturers in the area. Jean-Bernard Rodriguez, Senior Vice President, Grand Sud region, CGI In the 2021 CGI Voice of Our Clients, which provides insights and recommendations based on interviews with nearly 1,700 business and technology executives, manufacturers cite modernizing and rationalizing their systems as a top priority. They also seek to digitize the value chain through technologies such as Internet of Things (IoT), augmented reality and digital twins. In addition, developing innovative products and services through automation, including autonomous decision-making, within collaborative ecosystems is a key priority. CGI's new global innovation center is designed to help manufacturers achieve these goals and more. It gives them the opportunity to experiment with innovative and practical solutions that are quickly executable. Further, because the center is interconnected with CGI's other innovation centers, visitors can explore all of CGI's offerings through a cross-center, immersive and personalized journey. Overall, CGI is pursuing three major objectives with its new center in Toulouse: Co-build, with manufacturing clients, the factory of the future. Through innovation, develop new manufacturing solutions and improve existing ones. Apply Industry 4.0 best practices to accelerate transformation. Another unique aspect of the center is an immersive game designed to interactively teach a course structured around seven key Industry 4.0 issues, including: real-time monitoring, data continuity, digital twins, process automation, manufacturing execution systems, process mining, and cybersecurity. "CGI has proven industry expertise across the globe," said Laurent Gerin, President of CGI's operations in Western and Southern Europe. "With a network of more than 6,000 experts, we deploy many technological innovations for our manufacturing clients. With this new center, we can help our clients address their key transformation challenges, with the objective of driving the end-to-end digitization of their value chains." About CGI Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 78,000 consultants and other professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI Fiscal 2020 reported revenue is C$12.16 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB).

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