Nordson Corporation Announces Business Segment Realignment Reflecting Diversification and Profitable Growth Focus | Business
WESTLAKE, Ohio–(Enterprise WIRE)–Jul 8, 2022–
Nordson Corporation (Nasdaq: NDSN) nowadays announced a strategic business enterprise segment realignment that reinforces the Company’s focus on its lengthy-phrase lucrative development system. The Corporation will reorganize into 3 monetary reporting segments powerful August 1, 2022: Industrial Precision Answers (IPS) led by Jeffrey A. Pembroke, Govt Vice President Professional medical and Fluid Remedies (MFS) led by Stephen Lovass, Govt Vice President and Sophisticated Technological know-how Solutions (ATS) led by Srinivas (Srini) Subramanian, Government Vice President.
Sundaram Nagarajan, President and Chief Executive Officer, reported, “Nordson’s success has been pushed by its shopper-centric organization product, determination to innovation and finish industry diversification. Above the previous two yrs, we’ve extra to these strengths as a result of the deployment of the NBS Upcoming expansion framework, which gives us a clear check out of our greatest progress options. Today’s realignment presents us superior visibility into our health-related and electronics platforms, which have developed substantially through the two natural and acquisitive opportunities. This new composition reflects the Nordson of nowadays and enhances the Company’s potential to supply the Ascend technique intention of prime-tier development with main margins and returns.”
Medical and Fluid Remedies (MFS)
The new MFS section will involve the Company’s fluid management answers for health care, higher-tech industrial and other varied conclusion markets. Related plastic tubing, balloons, catheters, syringes, cartridges, ideas, and fluid connection factors are employed to dispense or control fluids in customers’ healthcare gadgets or solutions, as nicely as generation procedures. This continues to be one of the Company’s advancement engines both equally organically and acquisitively. In fiscal 2021, this section had revenues of around $.6 billion.
This section will be led by Stephen Lovass, who joined Nordson in 2016 as the leader of the Industrial Coatings Programs organization. Most not long ago, he led the Technique and Corporate Development Team. Prior to becoming a member of Nordson, Mr. Lovass served as president for 1 of the world sensors and controls businesses at Danaher Corporation (NYSE: DHR), a $21 billion Fortune 200 diversified science and engineering organization. Mr. Lovass has held senior roles in strategic arranging and basic administration based in the United States, Europe, and Asia.
Innovative Know-how Solutions (ATS)
The ATS phase now will aim on goods serving electronics conclusion markets. ATS merchandise integrate our proprietary technologies located in progressive stages of an electronics customer’s production procedures, these as area remedy, precisely managed dispensing of content and exam and inspection to make certain quality and trustworthiness. Applications include, but are not restricted to, semiconductors, printed circuit boards, digital elements, and automotive electronics. In fiscal 2021, this segment experienced revenues of about $.5 billion.
Mr. Subramanian will direct this phase. He joined Nordson in 2006 and has served in roles of escalating accountability in corporate growth, as very well as main the Nordson EFD business enterprise. Most lately, he was vice president of the Electronics Processing Alternatives organization wherever he has effectively pushed the execution of our NBS Upcoming expansion framework for electronics dispense and surface treatment method merchandise throughout diversified electronics apps.
Industrial Precision Remedies (IPS)
There is no modify to the IPS segment, which is centered on offering proprietary dispensing and processing technological know-how, each common and remarkably custom-made products, to assorted finish markets. Product lines for IPS normally lower material usage, enhance line performance as a result of precision dispense and measurement and control, and enrich solution manufacturer and overall look. Elements are utilized for dispensing adhesives, coatings, paint, finishes, sealants and other products. This business mainly serves the industrial, client durables and non-durables markets. In fiscal 2021, IPS experienced revenues of somewhere around $1.2 billion.
Mr. Pembroke sales opportunities the IPS section. Because becoming a member of Nordson in 2005, he has been driving development in several Nordson firms. He has been instrumental in creating the Nordson Health-related acquisition approach, as nicely as Nordson’s progress and innovation system. Prior to February 2022, he led the Highly developed Engineering Methods phase where he effectively accelerated the deployment of the NBS Future advancement framework.
The Business will supply historic financials reflecting this realignment following the 3rd quarter fiscal 2022 10-Q submitting.
Apart from for historical information and comparisons contained herein, statements involved in this launch may possibly represent “forward-hunting statements,” as defined by the Private Securities Litigation Reform Act of 1995. These statements contain a number of pitfalls, uncertainties and other variables, as discussed in the Company’s filings with the Securities and Exchange Commission that could bring about actual results to differ.
Nordson Corporation is an revolutionary precision technology firm that leverages a scalable development framework to deliver prime tier advancement with foremost margins and returns. The Company’s immediate profits design and programs know-how serves world clients through a wide variety of important apps. Its assorted close market place publicity contains purchaser non-resilient, health-related, electronics and industrial close marketplaces. Launched in 1954 and headquartered in Westlake, Ohio, the Enterprise has operations and help places of work in about 35 nations around the world. Visit Nordson on the internet at www.nordson.com, www.twitter.com/Nordson—Corp or www.fb.com/nordson.
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