MANUFACTURING TECHNOLOGY,DIGITAL TRANSFORMATION
NTT DATA | June 30, 2022
NTT DATA Italia, the Italian division of the IT services leader, announced a partnership with computer vision software leader Cogniac Corporation. Cogniac's visual data processing platform will enhance NTT DATA's smart factory capabilities in Italy.
Italy is a world leader in many manufacturing sectors, including machine tools, fashion, food products, automobiles, and pharmaceuticals, and is the second largest manufacturing country in Europe. As businesses improve their product manufacturing and distribution processes with integrated technologies that enable them to leverage business and engineering intelligence and analytics, the industry is rapidly transitioning to Smart Industry 4.0. With NTT DATA at the forefront of this transformation, Cogniac and NTT DATA have formed a strategic partnership that leverages Cogniac's low-code/no-code technology to create advanced vision inspection applications for manufacturers across the globe.
"An integral part of successfully deploying computer vision applications is the integration point that NTT DATA provides across the manufacturing sector. For NTT DATA customers, the combined value of NTT DATA and Cogniac can significantly improve and automate the quality control process,"
-said Chuck Myers, CEO of Cogniac.
We are positive that it will help NTT DATA Italia achieve its goal of Smart Industry 4.0 by increasing efficiency and adding value.
Cogniac's AI can identify any camera-captured production detail. Using Cogniac's intuitive interface, a business process expert can create computer vision applications to improve and automate manual processes. The platform marks a step toward industrial digitization and can be used in any industry.
The manufacturing industry is ripe for AI advancement. Gennaro Masullo, manufacturing manager at NTT DATA Italia, is excited to work with Cogniac to bring AI to the manufacturing industry. NTT DATA has put its distribution network at the service of Cogniac to help it reach its full potential because we value dialogue with innovative technology partners.
NuCera Solutions | July 19, 2022
Chase Corporation (NYSE American: CCF), a leading global manufacturer of protective materials for high-reliability applications across diverse market sectors, today announced that it has entered into a definitive agreement to acquire NuCera Solutions, (“NuCera” or the “Company”) from SK Capital (a private equity firm headquartered in New York). NuCera is a recognized global leader in the production and development of highly differentiated specialty polymers and polymerization technologies serving demanding applications, offering products critical to enabling end-product functionality, performance and reliability.
NuCera is headquartered in Houston, Texas with its primary production facility based in Barnsdall, Oklahoma and additional international sales offices in France and Singapore. The Company employs approximately 130 people globally. For the trailing 12-month period ended April 30, 2022, the Company recognized an estimated revenue of $83 million with Adjusted EBITDA1 margins exceeding 25%.
NuCera will be acquired for a purchase price of $250 million, pending any working capital adjustments and excluding acquisition-related costs. The purchase will be funded by utilizing Chase’s existing revolving credit facility and available cash on hand. The transaction is expected to close by the end of the third calendar quarter of 2022, subject to customary closing conditions and regulatory approvals. Chase expects this acquisition to be accretive to earnings within the first year of ownership. Chase will be modestly levered (~1.2x pro-forma net leverage) post acquisition and maintains ongoing financial flexibility.
“The acquisition of NuCera is transformational in advancing Chase’s strategic growth priorities. NuCera is a recognized leader in developing and manufacturing specialty polymers and polymerization technologies that serve demanding applications globally. The Company’s strong market position, North American manufacturing footprint and captive synthesis capabilities will allow us to gain additional scale and expand our presence across multiple new high-growth end markets, while maintaining both a strong balance sheet and financial flexibility. NuCera’s culture and technology driven growth oriented mindset closely align with those of Chase, and we are excited to welcome the NuCera team and their highly differentiated products to Chase Corporation and its customers.”
-Adam P. Chase, President and Chief Executive Officer of Chase Corporation.
Steven McKeown, Chief Executive Officer of NuCera, commented, After a notable period of growth, we are very excited to join the Chase family which offers a strong cultural and strategic alignment to our business. Our portfolio of innovative, high-performance products is well aligned with Chase’s core philosophy of making a material difference. On behalf of everyone at NuCera, we greatly look forward to beginning our journey with the Chase team.
Mario Toukan, Managing Director of SK Capital, commented, It has been a pleasure to support the development and growth of NuCera. SK invested heavily in NuCera’s people, capabilities and facilities, establishing a leading platform of technology-oriented, specialty polymers. We believe NuCera is well-positioned to continue its growth under Chase Corporation’s ownership and we wish them continued success.
The acquisition of NuCera drives Chase’s proven core growth strategy and is an attractive step in the continued transformation of Chase. NuCera will expand Chase’s global reach into new blue-chip customers and attractive high-growth end markets such as personal care, polymer additives, coatings, diversified consumer products and masterbatches. In addition, Chase expects to have meaningful long-term synergy opportunities. Chase will continue to market under NuCera brands and the business will be integrated into Chase’s Adhesives, Sealants and Additives reporting unit.
About NuCera Solutions-
With an 85-year history of innovative chemistry, NuCera is a global leader in the development and manufacture of highly differentiated specialty polymers for markets that require high quality and performance: Adhesives, Coatings, Imaging, Masterbatches, Personal Care, Plastics and other consumer applications. NuCera supplies performance chemistry to global markets from its highly flexible manufacturing facilities in Barnsdall, OK which are supported by R&D and applications laboratories as well as pilot plant facilities.
About Chase Corporation-
Chase Corporation, a global specialty chemicals company that was founded in 1946, is a leading manufacturer of protective materials for high-reliability applications throughout the world.
pmdtechnologies | May 31, 2022
Augmented reality (AR) applications are on the verge of revolutionizing how we live and work. Magic Leap, the AR pioneer, is set to unveil its newest AR device, the Magic Leap 2, later this year. The Magic Leap 2 will be one of the most immersive enterprise AR headsets on the market, having been designed exclusively for business use.
Thanks to industry-leading optics and fast computers in an ergonomic form, Magic Leap 2 will enable operators to operate more efficiently, help firms streamline complicated processes, and allow staff to effortlessly communicate. One of the most important parts of Magic Leap 2 is the 3D indirect-Time-of-Flight (iToF) depth sensing technology, which was made by Infineon Technologies AG and pmdtechnologies ag.
Magic Leap 2 features the REAL3TM 3D Image Sensor. The IRS2877C Time-of-Flight imager records the physical environment surrounding the user, allowing the gadget to understand and interact with it. The VGA resolution of the 3D imager makes it possible to find many different things in great detail.
Infineon and pmd's Time-of-Flight technology generate a precise 3D mapping of the environment as well as a 3D image of faces, hand details, or objects in real-time. With this breakthrough, the Magic Leap 2 will be able to interact with its surroundings more accurately. In addition, the sensor allows Magic Leap 2 users to use better gesture controls. The 3D sensor was enhanced by Infineon and pmd to reduce power consumption, reduce heat, and extend the battery life of the Magic Leap 2.
“Sensing the environment precisely and in real-time is key for augmented reality applications. Magic Leap 2 will provide an even more immersive user experience. These superior functionalities will help to connect the physical and digital world even more seamlessly.”
Magic Leap CTO, Julie Green
“We have introduced our 3D imager technology in a professional environment, where precision and reliability are life-saving features,” said Andreas Urschitz, Division President Power & Sensor Systems and designated CMO at Infineon.
New augmented and mixed reality applications for healthcare and industry will be enabled by the latest 3D time-of-flight technologies. It is about to drastically alter the way we live and work.