Atkore | June 23, 2022
Atkore Inc. today announced the acquisition of United Poly Systems, a manufacturer of High Density Polyethylene (HDPE) pressure pipe and conduit serving the telecom, water infrastructure, renewables, and energy markets.
We are pleased to complete the acquisition of United Poly Systems, which strengthens Atkore’s product portfolio, expands our manufacturing capacity and further enables us to meet HDPE customers’ needs, HDPE pipe and conduit is a growing market that is expected to benefit from U.S. infrastructure legislation, and United Poly Systems is a great addition to Atkore. We welcome these employees and look forward to working together to continue to serve and support our customers.”
John Pregenzer, President of Atkore’s Electrical business.
The acquisition of United Poly Systems advances our objective announced in November 2021 to deploy more than $1 billion in cash toward capital expenditures and other organic investments, M&A and stock repurchases over the next two to three years to drive growth and enhance value for shareholders. United Poly Systems exemplifies our approach to acquiring strong businesses in key end markets that will enable us to maintain and expand our leadership position in the marketplace.”
Bill Waltz, Atkore President and CEO.
The company notes that United Poly Systems is the company's fourth acquisition in Fiscal Year 2022 and has invested more than $250 million in M&A over the last six months.
United Poly Systems employs approximately 160 people at its manufacturing facilities in Springfield, Missouri and Albuquerque, New Mexico. It will remain open at both locations. Industrial Opportunity Partners, an operations-focused private equity firm based in Evanston, Illinois, previously owned United Poly Systems.
Diodes | June 06, 2022
Diodes Incorporated (Diodes) (Nasdaq: DIOD) recently announced that the acquisition of onsemi's wafer fabrication facility and activities in South Portland, Maine ("SPFAB") had been completed.
Diodes will combine the South Portland plant and fab operations, including the transfer of SPFAB personnel to Diodes, as previously announced. Diodes will continue to manufacture onsemi's products from SPFAB as part of a multi-year wafer supply deal, while onsemi completes the transition of this manufacturing to its other wafer fabs.
We are pleased to successfully complete this transaction, which aligns with our strategic objective for significant revenue and gross profit dollar growth over the next several years, First, I would like to welcome SPFAB employees to the Diodes’ family. The team’s exceptional engineering capabilities and skills will support our technical and operational performance expectations. SPFAB provides additional 200mm wafer fab capacity for analog products to accelerate our growth initiatives in the automotive and industrial end markets."
Diodes’ chairman, president and chief executive officer, Dr. Keh-Shew Lu
This US-based facility, together with our existing facilities in Asia and Europe, further enhances our global manufacturing footprint and greatly increases Diodes’ internal capacity and competitive advantage in this supply constrained environment, while also supporting our future long-term growth. With the transaction now closed, we aim to aggressively ramp new wafer fab processes and capabilities at SPFAB in alignment with Diodes’ strategic growth plan.”
Dr. Keh-Shew Lu further.
Globalstar | June 20, 2022
Globalstar Inc., a global leader in satellite-powered innovation, announced the successful launch of the FM-15 spare satellite from Cape Canaveral's Kennedy Space Center. Thales Alenia Space manufactured and stored FM-15, Globalstar's second-generation constellation's 25th and final satellite. The satellite is expected to remain in orbit as a spare and will only be raised to operational orbit if necessary.
SpaceX confirmed that the upper stage of the Falcon 9 rocket perfectly injected the satellite into its planned low earth orbit. Globalstar has begun initial in-orbit testing, and the satellite is currently operational.
We are pleased to achieve launch success together with SpaceX and would like to extend a profound thank you to the team at Thales Alenia Space for successfully manufacturing, storing and then readying the satellite for launch, This latest satellite, which will serve as an in-orbit spare, plays a crucial role in our continued growth plans prior to the launch of additional satellites procured from MDA and Rocket Lab which are expected to launch in 2025.”
The satellite addition is designed to further support Globalstar's data products and services, including its legacy Duplex, SPOT retail consumer and Commercial loT. In addition, the launch reinforces Globalstar's commitment to providing users around the world with continuous connectivity.
About Globalstar, Inc.
In 2007, Globalstar pioneered personal safety by introducing the SPOT Satellite GPS Messenger. As a result, Globalstar now reliably connects and protects assets, transmits critical operational data, and saves lives – from any location – for consumers, industrial companies, and government agencies in over 120 countries by leveraging its low-earth orbit (LEO) satellite constellation. Globalstar's cost-effective satellite-powered innovations provide users with visibility and intelligence for improving safety and operational efficiencies, with a portfolio that includes SPOT GPS messengers, next-generation IoT products and modules, and cloud-based telematics solutions.