Steel King begins work on new headquarters
Company expanding Headquarters to allow for growth, retain top talent, and be an employer of choice delivering quality material handling solutions Steel King Industries, a manufacturer of storage rack and material handling products has begun work on what will be the company’s new headquarters later this year. The building, located at 5233 Coye Dr, in Stevens Point, WI was previously the headquarters for Skyward Software and had been vacant for several years. The new facility is roughly three times the office space of Steel King’s current offices and is being designed to showcase the company’s products and solutions throughout the facility with new technology and an inviting environment that will help attract the talent needed to help propel Steel King forward for decades to come. Steel King has been in the same facility since the company’s founding in 1970, making several expansions over the years. The current space had been limiting the growth and company executives had been on the lookout for new space for the last few years. “As our business has grown over the years, so has our need for top talent to support the development and growth of our business”, said Steel King President Brian Pfannes. “While Steel King is recognized nationwide as a leading manufacturer of storage rack and material handling products, many people in the Stevens Point area, and even the general region, hardly know we exist. This highly visible site along Highway 39 will increase our presence and visibility in the greater Stevens Point area and help from a recruiting standpoint, helping attract talent to the community. An office is just a shell, but when you fill that shell with people who work together with a shared sense of purpose, there’s nothing we can’t accomplish. We are excited for this next chapter in the company’s history.” The new location will mark a stark difference from Steel King’s current location that visitors will notice immediately. A modern, open concept will incorporate the company’s products and solutions throughout the facility. Bike racks made from the company’s pallet rack product, a shaded outdoor platform designed by Steel King’s NexCaliber Structures™ product group, and office fixtures and furniture will incorporate the company’s products. “We purposefully tried to create a strong sense of connectivity, creativity, innovation, and wellness for our employees in this new space,” said Pfannes. The company hopes to move to the new facility in the fall with a showcase to customers and the community at large before the end of the year. “Steel King has called Stevens Point home for over 52 years,” added Pfannes “We work and live in a community that values the importance manufacturing plays in our economy, has a solid foundational academic system with both K-12 and higher education options from Mid-State Technical College (MSTC) and the University of Wisconsin-Stevens Point (UWSP). Portage County and the greater Central Wisconsin region are in the midst of an economic renaissance. We believe this building and its location will help give us an edge in the future and increase our ability to collaborate and provide innovative solutions to our customers around North America in a timely and effective fashion.”
Haver & Boecker Niagara offers Make and Hold and Stocking Agreement programs for improved convenience
Haver & Boecker Niagara offers Make and Hold and Stocking Agreement programs for screen media and wear parts. The programs provide mining and aggregates customers options for short lead times, pricing stability, and simplified inventory management. “We put customer service first, which is why we’re one of the only manufacturers in this industry to offer a Make and Hold program,” said Karen Thompson, president of Haver & Boecker Niagara’s North American and Australian operations. “Programs like this give producers the assurance of timely deliveries at a price they can budget for at the beginning of the year. In addition, they can virtually eliminate the challenges of inventory management.” Under the Make and Hold program, Haver & Boecker Niagara stocks products in quantities and prices agreed upon at the beginning of the year. The product is produced and packaged in a pre-determined quantity so that it can be shipped the same day the order is placed. Once an order is shipped, the product is automatically replenished in preparation for the next time the customer requires it. A Stocking Agreement — or blanket order — the program is also available as an alternative for customers interested in a one-time annual agreement. Prices are locked in at the beginning of the year for a predetermined quantity of product. Customers draw on their stock throughout the year as required, and pay per shipment. Stocking Agreement shipments are shipped the same day the order is placed. Both programs are an opportunity for operations to ensure product availability and price stability and are particularly beneficial for products that may otherwise have long lead times.
FMI Analysis: Warehouse racking market expected to scope US$ 10,839.2 million by 2033
As per a recent market analysis by Future Market Insights (FMI), the global warehouse racking market is expected to capture a 3.8% CAGR from 2023 to 2033. The market is likely to increase from US$ 7,464.9 million in 2023 to US$ 10,839.2 million by 2033. The global logistics industry comprises a wide range of freight and cargo-related transportation sectors. The integration of material handling, warehousing, packaging, transportation, inventory management, supply chain management, procurement, and shipping security are expected to drive sales of warehouse racking market. Furthermore, the need for flexible material storing and stacking architectures with new safety features and resource efficiency is a vital factor spurring demand for industrial racking systems. In addition to this, the ex; expansion of the e-Commerce sector is also fuelling the growth in the market. Different solutions are being presented as technology advances to make operations easier. With cutting-edge approaches and effective solutions, smart storage ideas are gaining traction. With the correct kind of training in automated solutions, a warehouse management system may be considerably more effective, empowering employees to be more productive even when working at a high intensity. Upgrading, modifying, or relocating storage systems following changing business needs is another significant consideration. This is compelling manufacturers to employ racking systems, such as drive-in pallet racks and structural selective pallet racks, thereby augmenting the growth in the market. “Growing need for quick product accessibility, maximum space utilization, product and worker safety, convenient workability, and overall performance enhancement is expected to drive the market. Furthermore, the availability of both manual and automatic rack servicing is expected to boost sales in the forthcoming years,” says the FMI analyst. Growing Demand for Warehouse Space Optimization Global trade volumes are increasing at an unprecedented rate as a result of improved trade connections via roads, trains, and airways. This is rising the demand for customized products and favorable trade agreements. The Trade and Transportation Corridor Initiative, for example, is expected to invest roughly US$ 2,000 million over the next decade. To improve Canada’s transportation efficiency and effectiveness. Many manufacturing companies do not own warehouses and instead prefer to use third-party logistics providers to keep their goods. This saves money and allows them to focus on the quality of their products and services. As a result, warehouses must optimize their space to accommodate more goods. Most warehouse racks manufacturers also offer consulting services to help with warehouse management. The Key Driver of Market Growth is Rising Demand for Retail Space Growing retail space globally is expected to boost the global storage rack market over the forecast period. The worldwide retail market is expanding as a result of robust economic expansion and urbanization. E-commerce is quickly becoming a popular way for customers to buy consumer products, resulting in a high need for warehousing. This is projected to help the highlighted market grow during the forecast period. Furthermore, shopping convenience is one of the numerous aspects driving consumer interest in online channels. Furthermore, supermarkets, hypermarkets, and convenience stores have traditionally been the primary sales channels for consumer goods. Traditional retail establishments sell a variety of brands offered by vendors. Allowing customers to readily select the best brands available. Vendors’ rising emphasis on raising retail sales and retailer expansion fuel demand for warehouse racking, accelerating the market’s growth pace throughout the forecast period. A Glimpse of Country-wise Insights Does the Expansion of the Food and Beverage Sector Boost the Market in the United States? Manufacturers in the United States use Warehouse Shelving to Improve Inventory Management The market in the United States is predicted to increase at a 13.4% CAGR during the forecast period, according to FMI. The food and beverage business is vital to the country’s economy. According to the USA Committee for Economic Development, the industry employs over 1.5 million people and includes nearly 27,000 enterprises. As a result, growth in the food and beverage sector, as well as increased export and retail of organic food items, drive sales in the United States over the forecast period. What Indian Storage Rack Market is expected to Grow? Increased Acceptance of Warehouse Racking Systems in India Drives Growth The rapid expansion of India’s e-commerce industry is boosting market growth. With sales expected to expand at a 7.2% CAGR over the assessment period. In India, the shift from traditional brick-and-mortar storefronts to online retail platforms is increasing. This is driving the demand for effective storage solutions and sales of warehouse racking equipment. The Automotive Sector Drive the Market in the United Kingdom? Automakers Invest in Warehouse Shelving Units to Improve Supply Chain Management The warehouse racking market in the United Kingdom is expected to register a 3.0% CAGR over the forecast period, according to FMI. In the automotive industry, warehouse racking systems are utilized to store various automotive spare parts and automobiles. Increased motor vehicle sales in the United Kingdom are driving manufacturers. To implement industrial shelving systems to maximize storage area utilization. With these elements behind it, the United Kingdom market is expected to rise rapidly in the future years. Competitive Landscape Daifuku, SsiSchaefer, Interroll, Dematic, Vanderlande, AK Material Handling Systems, Beumer, Constructor, Dmw&H, Godrej Storage Solutions, Warehouse Rack & Shelf LLC., and Steel King Industries, Inc. among others are some players in the warehouse racking market are employing smart promotional strategies, advertisements, and new product launches to gain a competitive edge in the market.
Green Current Solutions
Nucor reports results for the First Quarter of 2023
Net earnings attributable to Nucor stockholders of $1.14 billion, or $4.45 per diluted share Net sales of $8.71 billion Net earnings before noncontrolling interests of $1.23 billion; EBITDA of $1.89 billion Earnings are expected to increase in the second quarter of 2023 on stronger steel mills segment earnings Nucor Corporation has announced net earnings attributable to Nucor stockholders of $1.14 billion, or $4.45 per diluted share, for the first quarter of 2023. By comparison, Nucor reported net earnings attributable to Nucor stockholders of $1.26 billion, or $4.89 per diluted share, for the fourth quarter of 2022 and $2.10 billion, or $7.67 per diluted share, for the first quarter of 2022. Included in the results for the fourth quarter of 2022 was an after-tax net benefit of $60.4 million, or $0.24 per diluted share, related to state tax credits and an after-tax net benefit of $88.0 million, or $0.34 per diluted share, related to a change in the valuation allowance of a state deferred tax asset. Also included in the fourth quarter of 2022 results was a pre-tax $96.0 million, or $0.29 per diluted share, write-off of the remaining carrying value of the Company’s leasehold interest in unproved oil and gas properties that are included in the raw materials segment. “We had a very strong quarter, driven by solid performance in our steel products segment and increased demand for steel at our mills,” said Leon Topalian, Nucor’s Chair, President, and Chief Executive Officer. “Demand from nonresidential construction, our largest end market, continues to be robust driven by strength in infrastructure and manufacturing investment. Average steel mill utilization rates and profit margins were both up in the first quarter compared to the fourth quarter, with sheet and plate mills seeing some of the largest gains. This, coupled with year-over-year gains in automotive and stability in energy, gives us confidence that 2023 will be another very profitable year for Nucor. My thanks to our 31,000 teammates for their dedication to safely meeting our customers’ needs while executing our strategic growth agenda.” Selected Segment Data Earnings (loss) before income taxes and noncontrolling interests by segment for the first quarter of 2023 and 2022 were as follows (in thousands): Three Months (13 Weeks) Ended April 1, 2023 April 2, 2022 Steel mills $ 838,388 $ 2,578,854 Steel products 970,802 684,867 Raw materials 58,140 95,853 Corporate/eliminations (270,546) (461,459) $ 1,596,784 $ 2,898,115 Financial Review Nucor’s consolidated net sales were $8.71 billion in the first quarter of 2023, similar to $8.72 billion in the fourth quarter of 2022 and 17% lower than the $10.49 billion recorded in the first quarter of 2022. Average sales price per ton in the first quarter of 2023 decreased by 11% compared with the fourth quarter of 2022 and decreased by 18% compared with the first quarter of 2022. A total of 6,443,000 tons were shipped to outside customers in the first quarter of 2023, an increase of 12% compared to the fourth quarter of 2022 and an increase of 1% compared to the first quarter of 2022. Total steel mill shipments in the first quarter of 2023 increased by 18% compared to the fourth quarter of 2022 and increased by 4% compared to the first quarter of 2022. Steel mill shipments to internal customers represented 20% of total steel mill shipments in the first quarter of 2023, compared with 20% in the fourth quarter of 2022 and 22% in the first quarter of 2022. Downstream steel product shipments to outside customers in the first quarter of 2023 decreased by 3% from the fourth quarter of 2022 and decreased by 8% from the first quarter of 2022. The average scrap and scrap substitute cost per gross ton used in the first quarter of 2023 was $414, a 3% decrease compared to $427 in the fourth quarter of 2022 and a 16% decrease compared to $495 in the first quarter of 2022. Pre-operating and start-up costs related to the Company’s growth projects were approximately $82 million, or $0.24 per diluted share, in the first quarter of 2023, compared with approximately $73 million, or $0.22 per diluted share, in the fourth quarter of 2022 and approximately $62 million, or $0.17 per diluted share, in the first quarter of 2022. Overall operating rates at the Company’s steel mills increased to 79% in the first quarter of 2023 as compared to 70% in the fourth quarter of 2022 and 77% in the first quarter of 2022. Financial Strength At the end of the first quarter of 2023, we had $4.70 billion in cash and cash equivalents, short-term investments, and restricted cash and cash equivalents on hand. The Company’s $1.75 billion revolving credit facility remains undrawn and does not expire until November 2026. Nucor continues to have the strongest credit rating in the North American steel sector (A-/A-/Baa1) with stable outlooks at Standard & Poor’s, Fitch Ratings, and Moody’s. Commitment to Returning Capital to Stockholders During the first quarter of 2023, Nucor repurchased approximately 2.7 million shares of its common stock at an average price of $156.35 per share. As of April 1, 2023, Nucor had approximately 251 million shares outstanding and approximately $656.9 million remaining for repurchases under its existing authorized share repurchase program. This share repurchase authorization is discretionary and has no scheduled expiration date. On February 21, 2023, Nucor’s board of directors declared a cash dividend of $0.51 per share. This cash dividend is payable on May 11, 2023, to stockholders of record as of March 31, 2023, and is Nucor’s 200th consecutive quarterly cash dividend. First Quarter of 2023 Analysis Steel mill segment earnings in the first quarter of 2023 increased from the fourth quarter of 2022, primarily due to higher margins and volumes. The steel products segment earnings in the first quarter of 2023 decreased relative to the fourth quarter of 2022 due primarily to reductions in realized pricing. Earnings for the raw materials segment increased in the first quarter of 2023 as compared to the fourth quarter of 2022 due to higher volumes at our direct reduced iron (“DRI”) facilities and scrap recycling and brokerage operations. Second Quarter of 2023 Outlook We expect earnings in the second quarter of 2023 to increase compared to the first quarter
RM2 welcomes Wayne Cochran as Chief Operating Officer
RM2 has announced that Wayne Cochran has joined the company as Chief Operating Officer. Wayne brings with him a wealth of experience and expertise in high-growth operations and is particularly skilled at optimizing manufacturing processes rapidly to meet demand. Wayne has an exceptional track record of leading large organizations and programs with complex supply chains across multiple geographies. He is also known for his ability to build and lead effective teams, delivering improvement in financial and operational performance metrics. “I’m thrilled to join the RM2 leadership team at this incredible inflection point in the company’s story,” said Wayne, “RM2 has a great product in BLOCKPal and a strong customer base that’s fueling demand for more and more of their IoT pallets, and I’m looking forward to helping scale operations to meet this demand.” Wayne started his career as a design engineer for Motorola with a BSEE from the Missouri University of Science and Technology. He later received his MBA from Arizona State University’s WP Carey School of Business and holds certificates in Negotiations and Management from Harvard University’s Schools of Law and Business. Throughout his career, Wayne has also worked for Intel, Badger Technologies, and Jabil. “Wayne’s skillset is a perfect fit for RM2,” said Kevin Mazula, CEO of RM2, “His expertise and experience will help RM2 continue to thrive and meet the increasing market demand for our solutions. I’m honored to welcome Wayne our team.”
Nichole Wheeler named Cisco-Eagle Chief Financial Officer
Effective April 1, 2023, Nichole Wheeler has been named Vice President and Chief Financial Officer of Cisco-Eagle according to president Bryan Gauger. In her new role, Wheeler will lead the company’s financial and accounting teams, as well as serve as a key member of its leadership team. “Nichole is ideal for this role,” said Gauger. “She is a proven problem solver and forward thinker with a knack for building consensus. Her previous experience with our culture and familiarity with our industry made her ideal for our leadership team.” Wheeler was previously a Cisco-Eagle employee-owner. She worked as a member of the accounting team from 1999 to 2005, where she was instrumental in financial statement reporting, audit administration, the implementation of a new ERP system, ESOP transition, and other finance and systems support. Following her 2005 departure, Wheeler spent most of her career with HMT, a global provider of products, maintenance, certified inspection services, and construction for the above-ground storage tank industry. During her 15 years with the organization as a key manager—and ultimately executive leadership team member—she contributed to company growth, organic and acquired, both domestic and abroad. Wheeler has proven success leading finance and operational teams for continuous process improvement, merger and acquisition integration, financial planning and analysis, and increased liquidity and working capital. Her career spans over 25 years of varied experience and management of financial systems, general accounting, tax, audit, treasury, and board/investor relations allowing her to bring a broad range of knowledge to share with the Cisco-Eagle team. Nichole holds a Master of Science in Management Information Systems from Oklahoma State University and a Bachelor of Science in Accounting and Business Administration from the University of Kansas. She is a certified public accountant (CPA) and certified management accountant (CMA). Wheeler replaces longtime CFO Randy Williams, who is a previous employee-owner of the year. Williams will remain with Cisco-Eagle as Treasurer. In her new role, Wheeler will work from Cisco-Eagle’s Dallas headquarters. “I’m excited to rejoin the team of employee-owners at Cisco-Eagle,” Wheeler said. “Randy has been in place since the beginning of the ESOP and is leaving us with much more than a solid foundation of financial leadership. Working together we can continue to grow the business and honor the impressive footprint he is leaving behind. I am most looking forward to getting back to the Cisco-Eagle culture and people.”
LD Systems
MHS Lift, Inc. recognized by Wholesale Pallet Rack Products with Great 8 Award
MHS Lift, Inc. has been honored as a 2022 Great 8 Award winner by Wholesale Pallet Rack Products (WPRP), a wholesale distributor of pallet rack, wire decking, shelving, pallet rack accessories, and warehouse safety products. The Great 8 Award recognizes eight dealers each year based on their impressive sales numbers. “We are honored to accept this award from our partners at WPRP,” said Andy Levin, co-president, MHS Lift. “We proudly offer their high-quality custom products to our clients and have a great working relationship with their team.” MHS Lift has also been honored for the 2022 sales year with a Premier Club Award from Unicarriers. “Our incredible team is the reason for our success,” said Brett Levin, co-president, MHS Lift. “They provide top-quality customer service and always find a way to get our customers what they need when they need it. We look forward to providing great products from partners like WPRP for years to come.”
New Roly®-Safety Gate design provides protection for personnel injury, product and equipment damage
Mezzanine Safeti-Gates, Inc., an innovator in the design and manufacturing of pallet drop safety gates that provide fall protection in distribution centers, warehouses, and manufacturing and material handling facilities, announced from the 2023 ProMat Show and Expo Booth S1749, a new design of the Roly® safety gate that protects both people and products. The Roly® Product Containment design includes a high strength, high visibility netting system on the ledge side gate that prevents products from falling from elevated storage systems. In addition, the netting on the safety gates prevents employees from getting their hands into the loading zone, away from the machines that are increasingly loading and unloading pallets in drop areas. As the demand for warehouse and material handling space remains high, material handling and warehouses are continually adding a multi-level rack and other product storage systems into facilities. If the storage systems are not contained, products are at risk of falling from upper levels, leaving employees, robots, and other equipment at risk for injury or damage. The Roly Product Containment design uses netting systems containing items two (2) inches or larger, helping to ensure the product is free from damage to itself, employees, or machines below. “Our new product containment design helps facility managers solve a number of problems, all in one system,” said Aaron Conway, president of Mezzanine Safeti-Gates, Inc. “With one safety gate, we can not only protect employees from falling from the edge but also prevent product damage. Additionally, the netting keeps employees from interacting with the machines and robots that are more often loading and replenishing the pallet drop areas. Netting keeps hands out of the loading zone, decreasing the risk of injury. This system will be helpful for facilities as storage is built out.” When the pallet drop area is being loaded, the ledge side gate is open and the netting compacts into the system, clearing the way for pallets to be moved into place. After loading is finished and the pallet area is ready for picking, the ledge side gate closes and the netting extends from the deck to the top frame of the gate, providing full-length coverage to prevent products from falling, decreasing the risk of damage while being picked or moved from the area. In addition to the product containment design, Roly safety systems can be purchased in a variety of sizes including standard stock single and double wide pallet widths. The most versatile safety gate system, Roly models can be customized to accommodate specific pallet widths, depths, and heights, as well as Rack Supported and Total Control Access (TCA) designs. Power operation, push button or remote operation, photo eyes, and integration with WMS systems can be added to all Roly safety gates. Used in thousands of locations throughout the world, safety gate systems offered by Mezzanine Safeti-Gates fully comply with OSHA’s Walking-Working Surface Fall Protection Standard as well as ANSI fall protection guidelines. All models, including loading dock and lifts safety gates, are available in powder-coated mild steel or electro-polished stainless steel.
Barcoding Inc. hires Michael Tassinari as new Chief Revenue Officer
Barcoding, Inc., the provider of efficiency, accuracy, and connectivity, announces today the hiring of Michael Tassinari as the firm’s new Chief Revenue Officer (CRO). In this role, Tassinari, a key member of the Barcoding leadership team, will be focused on growing relationships with customers and key partners, and driving growth strategies across North America. As CRO of the supply chain automation and innovation company, Tassinari will measure and analyze revenue growth as Barcoding continues to expand its solution portfolio into areas like enterprise software, mobile worker experience, supply chain visibility, and automation (e.g., AMRs and AGVs). Tassinari joins the Barcoding team with over 30 years of experience in IT sales and executive leadership. He was most recently the Senior Director of Data Center sales for Dell Technologies. Michael has experience leading sales teams across both the federal and the enterprise/commercial markets, and he partnered closely with Dell’s federal customers to enable and accelerate their digital, IT, and workforce transformation efforts. Prior to this role, Michael was the Area sales manager for Dell EMC for the mid-Atlantic region focusing on Dell EMC’s largest Enterprise customers. His teams focused on helping customers modernize IT infrastructures including servers, storage, and data protection solutions. Michael is a member of the Folds of Honor Foundation Board of Directors, the Richard J Fox Foundation Board of Directors, and the Maryland Golf and Country Club Board of Governors. He is a graduate of Saint Leo University with a B.S. in Business. “We’re excited to see our team grow and know that Michael’s experience and leadership will be an incredible asset to our Barcoding team bringing scale to our customers, partners, employees, and social communities,” said Shane Snyder, president at Barcoding. “As we continue to guide clients through this new era of supply chain modernization, we’re inspired by the creativity, energy, and experience Michael brings.” “I am excited to join Barcoding as their new CRO at such a great time in the company’s growth path. Working together with Barcoding’s sales teams, customers, and our key partners, I believe we can truly grow our business for the betterment of our clients and our supply chain industry,” said Michael Tassinari.
Murata Machinery USA to unveil industry-first, Four-Tote Carriage Mini-Load Crane for Small/Lightweight Product Storage & Retrieval
Murata Machinery USA, Inc. ( Muratec), a logistics & clean room automation forerunner and a world-class leader in machine tool and fabrication technology, announces its latest addition to Muratec’s range of automated material handling solutions for small product storage and retrieval – the new Ledger A3 mini-load is a high-density, four-tote carriage automated storage and retrieval system (AS/RS). The Ledger A3 AS/RS is an industry-first mini-load with high-speed, simultaneous carriage loading and unloading of four totes for storing, picking, and sorting small, lightweight goods. Designed to provide maximum high-density storage and retrieval for high-throughput distribution applications, this new crane delivers double the capacity compared to a conventional mini-load AS/RS. With twice the storage/retrieval capacity of single or twin deep storage mini-loads, this four-tote carriage solution moves up to 400 totes per hour with two (2) times more efficiency of conventional systems. Traveling at 984 ft/min (300 m/min), lifting 360 ft/min (110 m/min), with a size capacity of 13.4 in. (W), 18.9 in. (D), and 11 in. (H) maximum, stacker cranes transfer Ledger A3 size (11” x 13.4”) totes individually or four simultaneously, speeding in/out retrieval and overall throughput. “Muratec’s Ledger A3 feeds the marketplace’s need for a high-density crane that can sort and retrieve various small loads with speed and accuracy while reducing the number of load touches. It’s perfect for applications requiring more in/out capacity and helps reduce manual labor costs,” said Scott Matlock, Murata Machinery USA, General Manager, L&A Division. Combined with Muratec’s rail-guided, bi-directional shuttle sortation loop or “SHUTTLINER,” the Ledger A3 can operate as a highly optimal goods-to-person (G2P) system to minimize manual handling errors and boost throughput. Integrating the A3 mini-load with a SHUTTLINER that feeds a G2P solution delivers inbound and outbound picking in a single structure, saving warehouse floor space and builds long-term expansion flexibility. “In today’s rapidly changing marketplace, consumers are demanding their products immediately, if not sooner, leaving businesses to react to tighter speed of delivery expectations across manufacturing, warehousing, and distribution markets,” Matlock added. “Automation is no longer an optional luxury but a competitive necessity.” Muratec’s North American introduction of the Ledger A3 mini-load follows numerous successful implementations in high throughput, small goods warehouse and distribution environments in the medical & pharmaceutical (syringes, pill bottles), cosmetics (tubes, bottles, jars), and food & beverage (confectionery products, candy) sectors. Murata Machinery USA will introduce this innovative small product Ledger A3 four-tote carriage at ProMat 2023, in Chicago, from March 20-23, McCormick Place, South Hall, Booth S2703a. For more information about Muratec’s Ledger A3, visit www.muratec-usa.com/ledger-a3.
UNEX showcases space-saving solutions at ProMat 2023
UNEX Manufacturing, Inc. will be showcasing its dynamic solutions for manufacturing, fulfillment, retail, and logistics in Booth #S3527 at ProMat, March 20 – 23, 2023 in Chicago, IL. “Every area of the supply chain has experienced a wave of disruptions over the past 3 years,” said Brian C. Neuwirth, President, UNEX Manufacturing. “Now more than ever, companies need the right equipment and solutions in place to remain agile and sustain growth despite supply chain disruptions.” Fortunately, there are solutions that can help mitigate the impacts of the top challenges supply chain professionals in manufacturing, fulfillment, retail, and logistics face today. UNEX has helped numerous businesses large and small save money in maintenance and operational costs while saving space. Companies like HelloFresh, Cutter & Buck, Daimler, and more trust UNEX solutions to save space, time, and money to create resilient supply chains now and in the future. In Booth #S3527, UNEX Manufacturing will be showing visitors how companies can transform their supply chains through demos of their dynamic storage, picking, packing, and assembly solutions. UNEX will demo its industry-leading SpeedCell dynamic storage system and its mobile picking cart companion SpeedCartt, along with carton flow, pallet flow, and modular flow rack solutions. What to Expect from UNEX at ProMat 2023 SpeedCell High-Density Storage System SpeedCell is a dynamic high-density storage solution that maximizes space utilization within existing racks, helping warehouse, fulfillment, and retail backroom operations improve pick speed and accuracy for valuable time and cost savings. Key benefits include, but are not limited to: Increase storage density by 40-60% Reduce labor costs by up to 40% Transform space into useable storage Add more SKUs in less space Create a highly efficient and accurate pick Visitors to booth S3527 will also discover SpeedCartt; an agile and space-efficient mobile picking cart that speeds up order fulfillment. SpeedCartt features 4 different cart sizes, 8 different column sizes, and 16 different cart combinations to ensure increased order accuracy and reduced travel times. Carton Flow and Pallet Flow Solutions UNEX will also showcase an industry-leading carton flow solution SpanTrack, alongside other gravity flow solutions for pallets and kegs. Whether you’re storing and picking cases, eaches, kegs, or pallets, UNEX has a solution to meet your needs. These space-efficient systems maximize SKU storage and improve productivity across every area of the supply chain. Discover these dynamic storage and order-picking solutions in booth S3527 at ProMat 2023: SpanTrack carton flow systems Pallet Track pallet flow systems Keg Flow keg storage and picking systems Modular Flow Racks See a number of different FlowCell flow rack configurations in booth S3527. UNEX will demo a FlowCell modular workstation, a pick tray cart, and more. FlowCell is a very versatile solution that is ideal for companies across industries. From industrial workstations to order fulfillment packing stations and more, FlowCell increases space utilization and boosts productivity for a variety across your supply chain. Key FlowCell benefits include: Increase space utilization by up to 50% Boost production efficiency by up to 30% Minimize reaching and improve ergonomics by reducing injury and fatigue Create reconfigurable, flexible storage to accommodate line and process changes Ensure FIFO inventory rotation Keep the factory floor organized — totes and boxes can be stored in return lanes rather than on the floor Connect with UNEX at ProMat 2023 Discover a whole universe of supply chain transformation solutions with UNEX in booth S3527 at ProMat 2023! Our knowledgeable staff of experts will learn more about your current challenges to tailor solutions to meet your unique needs.
Millwood adds second repair operation in New Jersey
New pallet repair facility marks 37 locations nationwide Millwood, Inc. added a second New Jersey-based pallet repair location in Barrington, NJ. The new location is about an hour southwest of our pallet repair location in South River, NJ, and is Millwood’s 37th location nationwide. “The opportunity to expand in New Jersey allows us to grow the Millwood family and have a further impact on the new communities we serve,” said EVP Operations Brad Arnold. This new location, which is about 60,000 square feet, will allow Millwood to service customers in the greater Philadelphia region and add nearly 50 new team members to the Millwood family. An estimated 50,000 pallets, or 100 truckloads in and out, per week, will be repaired at this new location. Team members from various departments are in Barrington working with our new family on their orientation into Millwood. Our mission is for all who come in contact with Millwood would clearly see the love of Jesus Christ in all that we do, which we are able to support by ensuring a chaplain is at every location to tend to all of our team members’ personal, professional and spiritual needs across the country. “This is a great opportunity for Millwood and will give us opportunities to do more,” Arnold said. “Over the next several months we plan to ensure the right people are in the right positions and to quickly help our new hires feel like they’ve been a part of the Millwood family for a while now.” Millwood continues to look for opportunities to add more pallet repair and other operations in 2023. New job openings at this new location will be posted on Millwood’s career site. All of our job openings can be found online at www.millwoodinc.com/careers.
Jungheinrich AG to acquire Storage Solutions group
Strengthens Jungheinrich’s intralogistics business with a complementary regional footprint Adds strong growth platform for warehouse automation solutions in the U.S. An important step in the implementation of Strategy 2025+ German intralogistics pioneer Jungheinrich AG (“Jungheinrich”) has signed a share purchase agreement with Merit Capital Partners, MFG Partners, and the management of Storage Solutions for the acquisition of 100% of the share capital in the Indiana-based Storage Solutions group (“Storage Solutions”), a provider of racking and warehouse automation solutions in the U.S., to gain enhanced access to the attractive U.S. warehousing and automation market. The total consideration agreed under the share purchase agreement consists of a purchase price of approximately USD 375 million (which is subject to customary closing adjustments) and a flexible, performance-based component in the mid to high single-digit percentage range of the purchase price which can be achieved by the retained Storage Solutions management over three years following completion of the transaction. The acquisition will be financed with available cash and debt with limited leverage impact. Storage Solutions, headquartered in Westfield, Indiana, is a U.S. warehouse design, automation, and integration company with 170 employees and 45 years of experience in delivering turnkey, best-fit solutions to customers. Based on a technology-agnostic business model, the company has achieved a strong position in the attractive U.S. warehousing market, which benefits from robust long-term growth dynamics. It offers unique vertically integrated service lines with in-house logistics and installation teams, ensuring on-time project completion and providing value-added services, including workflow optimization, engineering, and permitting. Storage Solutions is a trusted partner to a large and growing customer base with a strategic focus on companies that need integrated warehouse design, technical and project management support, and competencies. Its recurring customer base includes a broad range of leading brands, for example in the third-party logistics, e-commerce, retail, food and beverage, and industrials sectors. For 2022, Storage Solutions is set to report revenues of approximately USD 290 million and an adjusted EBIT of approximately USD 34 million. Strengthening Jungheinrich in line with its 2025+ strategy For Jungheinrich, the acquisition is highly complementary to its global footprint and will further strengthen the company’s market position. It is a unique opportunity to enter a large and rapidly growing market segment with a strategic foothold in the U.S. The market coverage of Storage Solutions will provide Jungheinrich with access to key logistics hubs in the U.S. and the opportunity to support the existing European customer base in this market. Acquiring a growth platform in the U.S. also provides the additional mid-term potential to build a presence in the adjacent countries of Canada and Mexico. The acquisition will sit alongside and not have any impact on the existing partnership of Jungheinrich with Mitsubishi Logisnext Americas (MLA), which will remain the sole activity of Jungheinrich in the North American forklifts market. By combining the expertise and capabilities of both partners, Jungheinrich and Storage Solutions will jointly drive the further development of innovative automation solutions. Warehouse automation is a priority for customers both of Storage Solutions and Jungheinrich, with an expected global market growth of 10% (CAGR) in the period of 2021 to 2025. The acquisition is expected to be accretive to EPS, free cash flow per share, and adjusted EBIT margin from the beginning. The 2025+ goal of 20% of sales outside Europe, in particular through inorganic growth, will be underpinned by the addition of USD 300+ million in annual revenues from Storage Solutions. Furthermore, the service-oriented business model of Storage Solutions allows for an asset-light approach with limited capital expenditure requirements, thereby strengthening Jungheinrich’s cash generation and resilience. Dr. Lars Brzoska, Chief Executive Officer of Jungheinrich: “The acquisition of Storage Solutions is an important step in the implementation of our 2025+ strategy. It is an excellent opportunity to expand our geographic footprint in the U.S. and adds a strong strategic platform for growth in warehouse automation across the region. Storage Solutions is a well-established and successful business with an attractive customer base and an excellent management team. We see great opportunities in combining the warehouse and automation capabilities of both parties to the benefit of customers in the U.S. as well as our European customers with operations in North America.” Kevin Rowles, Chief Executive Officer of Storage Solutions: “The next level of growth in our industry will be driven by an increasing need for warehouse automation. Storage Solutions has established solid capabilities in racking as well as automation and digitalization which we are seeking to expand further, as demand is continuously accelerating on the back of strong underlying fundamentals. Together with Jungheinrich, we look forward to jointly capturing the upside for further growth.” The executive board and supervisory board of Jungheinrich have approved the transaction. The completion of the acquisition, which is expected to take place in the second quarter of 2023, is subject to customary closing conditions, including receipt of the merger control clearance in the United States. Morgan Stanley & Co. International plc is acting as financial advisor to Jungheinrich and Freshfields Bruckhaus Deringer is acting as legal advisor, while Deloitte has provided support during the due diligence process. Baird is acting as financial advisor to Storage Solutions and Goodwin Procter LLP is acting as legal advisor.
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ORBIS introduces new low-profile Odyssey® pallet to streamline automated warehouses and integrate with existing pallet pools
ORBIS® Corporation, an international provider in reusable packaging, has added the new 40×48 Odyssey® Low Profile (LP) pallet to its suite of reusable plastic pallet offerings. This dimensionally consistent, robust pallet was designed to provide repeatable performance with automated equipment. With the same stability and unique features of the original 40×48 Odyssey pallet, the new low-profile 5.6-inch height aims to bring the added benefit of seamlessly integrating with alternate pallets in existing pallet pools. The Odyssey LP pallet is a robust solution that improves load stability with steel reinforcements and molded-in frictional elements that minimize load shifting, product load damage, and pallet slippage off material handling equipment. Designed to carry edge-racked loads of more than 2,800 pounds, this pallet also is equipped with comfortable handholds for easy manual handling. “The efficient handling of the palletized products in automated systems is key to building an effective, economical and sustainable supply chain,” said Alison Zitzke, senior product manager. “In designing the new low-profile version of the Odyssey pallet, we wanted to keep the superior benefits of the original design while also providing our customers a lower profile height to fit more product in a truck, reduce transportation costs and provide consistent pallet performance in automated systems.” Built with ORBIS’ dedication to sustainability in mind, the Odyssey LP pallet replaces wood pallets in the supply chain to reduce environmental waste while also providing a durable and reliable solution for product transportation and storage. This pallet offers smooth plastic surfaces that are free of nails and splinters, protecting product loads and minimizing equipment downtime due to warehouse debris. The pallet’s flow-through hygienic design is easily cleanable. This pallet was designed for a variety of applications from general food processing and dry goods to agriculture, raw materials, and finished goods. The 40×48 Odyssey LP pallet also can be fully recycled at the end of its useful life through the Recycle with ORBIS program, offering credit on recycled products for future packaging purchases.
Steel King names Rona Rossier-Abel as Vice President-Finance
Steel King Industries, a manufacturer of storage rack and material handling products has announced that Rona Rossier-Abel has been named Vice President-Finance of the company. In this role, she will oversee all financial strategies and actions for the company. Prior to joining Steel King, Rossier-Abel was Controller and Purchasing Manager with Domtar and has held several positions of increasing responsibility in finance over the last 20+ years. “With more than two decades of experience in finance and operations, Rona brings a wide breadth of expertise in accounting and strategic planning to the CFO role,” said Brian Pfannes, Steel King’s incoming president. “Adding her to our senior management team is an important step in Steel King’s growth plan.” Rossier-Abel has a BS in Managerial Accounting and Business Administration from the University of Wisconsin-Stevens Point. A native of Plover, WI, Rossier-Abel has been active in the United Way and with Junior Achievement. “I’m excited to join Steel King, a company with a long history of strong customer partnerships,” Rossier-Abel said. “I’m eager to apply my breadth of experiences in finance to help drive the business forward for continued growth.”