I-Bytes Manufacturing Industry

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I-Bytes
Manufacturing
February Edition 2020
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Table of Contents
1. Financial, M & A Updates...................................................................................................................................1
2. Solution Updates................................................................................................................................................33
3. Rewards and Recognition Updates..................................................................................................................54
4. Customer Success Updates................................................................................................................................88
5. Partnership Ecosystem Updates.....................................................................................................................110
6. Miscellaneous Updates....................................................................................................................................136
7. Events Updates.................................................................................................................................................139

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Financial, M & A
Updates Manufacturing Industry

Financial, M&A Updates
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3M (USA) Reports Fourth-Quarter and Full-Year 2019 Results; Implements
New Global Operating Model and Streamlined Structure; Provides
Fourth-Quarter Highlights:
• Sales of $8.1 billion, up 2.1 percent year-on-year
• Organic local-currency sales declined 2.6 percent year-on-year
• GAAP EPS of $1.66, includes charges of $0.49 per share from items not in prior
guidance:
• New operating model and streamlined structure resulted in restructuring charge of $0.20
per share
• Significant litigation-related charge of $0.29 per share
• Operating cash flow of $2.3 billion; free cash flow of $1.8 billion, with free cash flow
conversion of 186 percent
• Returned $1.0 billion to shareholders via dividends and gross share repurchases
Full-Year Highlights:
• Sales of $32.1 billion, down 1.9 percent year-on-year
• Organic local-currency sales declined 1.5 percent
• GAAP EPS of $7.81 includes:
• Significant litigation-related charges of $1.01 per share
• Venezuela deconsolidation non-cash charge of $0.28 per share
• Divestiture gain of $0.21 per share
• Adjusted EPS of $9.10 excludes significant litigation-related charges and Venezuela
deconsolidation non-cash charge
• Operating cash flow of $7.1 billion; free cash flow of $5.4 billion (all-time record), up 10
percent year-on-year, with free cash flow conversion of 118 percent
• Returned $4.7 billion to shareholders via dividends and gross share repurchases
Executive Commentary
“Our team executed well in the fourth quarter and delivered results that were in-line with
our expectations, said 3M chairman and chief executive officer. While we continued to
manage challenges in certain key end markets, we generated solid underlying margins
and robust free cash flow. We also continue to build for the future, including the launch
of our new global operating model which represents the next phase of our
transformation journey. As a result of our actions, we are well positioned to improve our
performance, return to growth and deliver a successful 2020.”
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ABB (Switzerland) Full-year and Q4 2019 results
Full-Year 2019 Highlights
• Orders $28.6 billion, steady; comparable +1%
• Revenues $28.0 billion, +1%; comparable +1%
• Operational EBITA margin1 11.1%, impacted by a combined 130 basis points
due to stranded costs and non-core activities
• Income from operations $1,938 million, -13%
• Net income $1,439 million, -34%
• Basic EPS $0.67, -34%2; Operational EPS1 $1.24, -7%
• Cash flow from operating activities $2,325 million, -20%, incl. cash outflows
for simplification program and Power Grids carve-out
• CHF 0.80 per share dividend proposed
Fourth Quarter 2019 Highlights
• Orders $6.9 billion, -1%; comparable +1%
• Revenues $7.1 billion, -4%; comparable -2%
• Operational EBITA margin 10.1%, impacted by a combined 170 basis points
due to stranded costs and non-core activities
• Income from operations $648 million, +136%
• Cash flow from operating activities $1,911 million, +2%, incl. cash outflows
for simplification program and Power Grids carve-out
“ABB gave a resilient performance in 2019 in the face of challenging market
conditions and a significant transformation. Our revenues and operating
margin both improved slightly. The divestment of Power Grids is on track and
we are clearly starting to see the positive effects of implementing our new
operating model and new culture, said Chairman and CEO of ABB. In line
with our dividend policy we are proposing a dividend of 0.80 CHF per share.
We are committed to providing attractive returns to shareholders, further
enhanced by the commencement of share buybacks using the net cash
proceeds from the Power Grids transaction later this year.”
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AECOM (USA) reports first quarter fiscal year 2020 results
First Quarter Accomplishments and Financial Outlook:
• AECOM completed the sale of its Management Services (MS) business at a premium
valuation.
• Revenue was $3.2 billion, and net service revenue2 increased by 1% on an organic basis3,
reflecting growth in the Americas segment and stable performance in the International segment.
• Net income was $31 million and diluted earnings per share was $0.19; on an adjusted1 basis,
diluted earnings per share was $0.46.
• Adjusted EBITDA1 increased by 27% over the prior year to $173 million, reflecting the
benefits of the Company’s strategic actions that focused on increasing profitability and margins
and capitalizing on a near-record level of backlog.
• The segment adjusted operating margin1, 4 on NSR2 was 11.7%, which was a 230-basis point
improvement over the prior year and was consistent with the Company’s full year margin
guidance.
• Underlying free cash flow6 in the quarter was consistent with expectations after adjusting for
timing-related impacts in MS; nearly all of these delayed collections were recovered prior to
the closing of the MS sale in January.
• AECOM reiterated its fiscal 2020 financial guidance, including its expectation for adjusted
EBITDA1 between $720 million and $760 million and for free cash flow6 between $100
million and $300 million.
• The Company expects to utilize the proceeds from the MS sale to reduce debt in the second
quarter, including the immediate repayment of substantially all of its pre-payable debt, and to
repurchase stock while maintaining its long-term net leverage7 target of 2.0-2.5x.
“The strategic actions we have taken and continue to take to simplify our operating structure
and transform into a higher-returning and lower-risk Professional Services business have
delivered a substantial increase in shareholder value, said AECOM’s chairman and chief
executive officer. I am proud of the many successes we have achieved as an organization
over the last several years and AECOM is better positioned than ever to continue this
momentum into the future.”
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Airbus (Netherland) reports Full-Year (FY) 2019 results, delivers on guidance
• Strong underlying financial performance, FY 2019 guidance achieved
• € -3.6 billion penalties recognised for agreements with authorities
• A400M € -1.2 billion charge; export assumptions revised
• Revenues € 70.5 billion, +11% YoY; EBIT Adjusted € 6.9 billion,
+19% YoY
• EBIT € 1.3 billion; loss per share (reported) € -1.75
• 2019 dividend proposal: € 1.80 per share, +9% versus 2018
• 2020 guidance to set the path for sustainable growth
Outlook
• Airbus targets around 880 commercial aircraft deliveries in 2020.
• Airbus expects to deliver an EBIT Adjusted of approximately € 7.5
billion, and Free Cash Flow before M&A and Customer Financing of
approximately € 4 billion before:
• € -3.6 billion for the penalty payments and;
• A negative mid-to-high triple digit million Euro amount for the
consumption of compliance-related provisions for tax and legal
disputes.
“We achieved a great deal in 2019. We delivered a strong underlying
financial performance driven mainly by our commercial aircraft
deliveries,saidExecutive Officer. The reported earnings also reflect
the final agreements with the authorities resolving the compliance
investigations and a charge related to revised export assumptions for
the A400M. The level of confidence in our ability to continue to
deliver sustainable growth going forward has led to a dividend
proposal of € 1.80 per share. Our focus in 2020 will be on reinforcing
our company culture, improving operationally, and adjusting our cost
structure to strengthen the financial performance and prepare for the
future.”
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ASSAABLOY (Sweden) acquires Biosite in the UK
ASSAABLOY has acquired Biosite, a leading solutions provider of
biometric access control to the UK construction industry. Biosite was
founded in 2010, has some 140 employees and the main office is located in
Solihull, UK. Sales in 2019 amounted to about GBP 14 million and the
acquisition will be dilutive to EPS from start. The ASSAABLOY Group is
the global leader in access solutions. The Group operates worldwide with
49,000 employees and sales of SEK 94 billion. The Group has leading
positions in areas such as efficient door openings, trusted identities and
entrance automation. ASSAABLOY's innovations enable safe, secure and
convenient access to physical and digital places. Every day, we help billions
of people experience a more open world. ASSAABLOY has acquired
Biosite, a leading solutions provider of biometric access control to the UK
construction industry.
"I am very pleased to welcome Biosite and their employees into the ASSA
ABLOY Group. Biosite is a strategic technological addition to the ASSA
ABLOY Group. The company will reinforce our current offering within
solutions for access control and will provide complementary growth
opportunities,” says President and CEO of ASSAABLOY”
Description
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Lower organic growth with strong profit and cash flow-ASSAABLOY (Sweden)
Fourth quarter
• Net sales increased by 8% to SEK 24,946 M, with organic growth of 1%
and acquired net growth of 3%
• Strong organic growth in Americas, good growth in Global Technologies
and stable in EMEA and Entrance Systems, while sales declined in Asia
Pacific
• Two acquisitions signed with expected combined annual sales of SEK 800
M
• Tax decision in Finland reconsidered to ASSAABLOY’s disadvantage.
Estimated tax exposure of SEK 920 M, but no material effect on the Group’s
net income
• Operating income increased by 8% and amounted to SEK 4,047 M
corresponding to an operating margin of 16.2%
• Net income1 amounted to SEK 2,767 M
• Earnings per share1 amounted to SEK 2.49
• Operating cash flow increased by 6% to SEK 5,235 M
• The Board of Directors proposes a dividend of SEK 3,85 per share for 2019
Comments by the President and CEO, “In the fourth quarter, total sales
grew by 8%, driven by organic growth of 1%, acquired net growth of 3%
and positive currency effects of 4%. Organic growth was strong in
Americas and good in Global Technologies. EMEA and Entrance Systems
reported stable growth, while organic sales growth in Asia Pacific was
negative. Operating income increased by 8% to SEK 4,047 M, which is the
first time we have exceeded SEK 4bn in a single quarter. The operating
margin was unchanged at 16.2%. The operating leverage was strong due to
lower raw material costs, together with mix and efficiency improvements,
but this was offset by higher acquisition and integration costs. Operating
cash flow improved by 6% to a record high SEK 5,235 M, driven by the
improved earnings and positive evolution from working capital. Our cash
conversion in the quarter was strong at 139%.”
Description
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BASF India Limited announces Q3 results for FY 2019-2020
• Sales of Rs. 20,143.8 million for the third quarter of 2019 which
ended on December 31, 2019, as compared to Rs. 14,049.9 million in
the corresponding quarter of the previous year, representing an increase
of 43%.
• The Company reported loss before tax of Rs. 240.4 million as
compared to loss before tax of Rs. 632.5 million in the prior-year
quarter.
• The Board of Directors of the Company approved the proposal to
transfer its Construction Chemicals business to Master Builders
Solutions India Pvt Ltd, a fellow subsidiary company, at a
consideration of Rs. 5,951.6 million, subject to the approval of the
shareholders of the Company and other required approvals. The
transaction is expected to close by the second quarter of the financial
year 2020/21.
• The Company’s Construction Chemicals business, which was
reported under Surface Technologies, generated sales of Rs. 4,835.2
million for the year ended March 31, 2019.
“Despite the backdrop of weak industrial and automotive growth, we
were able to increase revenues for the Company on account of change
in business model and price management,” said Managing Director,
BASF India Limited. With improvement in margins, we were able to
minimize our losses to Rs. 240.4 million as compared to Rs. 632.5
million in corresponding quarter of previous year.”
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BASF (Germany) closes acquisition of polyamide business from Solvay
BASF closed the acquisition of Solvay’s polyamide business. The
transaction broadens BASF’s polyamide capabilities with
innovative and well-known products such as Technyl®. This will
allow BASF to support its customers with even better engineering
plastics solutions, e.g., for autonomous driving and e-mobility. The
transaction also enhances the company’s access to growth markets
in Asia as well as in North and South America. Through the
backward integration into the key raw material adiponitrile, BASF
will now be present along the entire value chain for polyamide 6.6
and improve its supply reliability. The purchase price for the
polyamide business acquired by BASF on a cash and debt-free
basis amounts to €1.3 billion; sales generated in 2018 were about
€1.0 billion. The business will be integrated into the Performance
Materials and Monomers divisions of BASF.
“With a broader portfolio, a stronger regional presence and
improved supply reliability BASF will deliver significant
benefits to our customers, said Member of the Board of
Executive Directors of BASF SE. The acquisition stands for our
strong commitment to the polyamide business globally.”
Description
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Boeing (USA) Reports Fourth-Quarter Results
Fourth Quarter 2019
• Financial results continue to be significantly impacted by the 737
MAX grounding
• Revenue of $17.9 billion, GAAP loss per share of ($1.79) and
core loss per share of ($2.33)
Full-Year 2019
• Revenue of $76.6 billion, GAAP loss per share of ($1.12) and
core loss per share of($1.12) and core (non-GAAP) loss per share
of ($3.47)
• Operating cash flow of billion; cash and marketable securities of
$10.0 billion
• Total backlog of $463 billion, including over 5,400 commercial
airplanes
"We recognize we have a lot of work to do," said Boeing
President and Chief Executive Officer. We are focused on
returning the 737 MAX to service safely and restoring the
long-standing trust that the Boeing brand represents with the
flying public. We are committed to transparency and excellence
in everything we do. Safety will underwrite every decision,
every action and every step we take as we move forward.
Fortunately, the strength of our overall Boeing portfolio of
businesses provides the financial liquidity to follow a thorough
and disciplined recovery process."
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Bombardier (Canada) Announces Full-Year Financial Results
Overview Financial Performance
• Bombardier’s consolidated revenues for the year were $15.8 billion, highlighted by an 8.5% growth in business
aircraft activities. The growth in Aviation revenues were offset by the lower contribution from commercial aircraft
businesses following their divestitures. Revenues at Transportation also decreased, mainly due to contract estimate
revisions.
• Consolidated adjusted EBITDA and adjusted EBIT for the year were $896 million and $470 million, respectively,
reflecting (i) improvements at Aviation as it exits underperforming commercial programs and ramps-up production on
the Global 7500 aircraft; and (ii) additional charges and investments at Transportation to complete challenging
projects. Reported EBIT loss for the year of $498 million includes a $1.6 billion impairment charge related to the
ACLP investment.
• Fourth quarter cash generation reached $1.0 billion, reducing free cash flow usage to $1.2 billion for the year.
• Higher than anticipated cash usage was driven by additional investments made to address challenging rail projects,
as well as, the deferral of deliveries, mainly at Transportation. Cash usage from operating activities amounted to $680
million for the full year.
2020 Outlook
• Revenues from our sustaining business aircraft and Transportation activities in 2020 are expected to grow
organically by double-digit percentage over the $13.7 billion revenues recorded from these businesses in 2019.
• This strong growth is driven mainly from the acceleration of Global 7500 deliveries contributing to a total of 160
aircraft or more for the year at Aviation. The consolidated revenue growth is also supported by the ongoing
production ramp-up of Transportation, driven by the solid orders from the past few years.
• Adjusted EBITDA and adjusted EBIT are expected to increase to approximately 7.0% and 3.5% respectively, mainly
from the acceleration of Global 7500 deliveries at Aviation and gradual margin normalization at Transportation. The
adjusted EBIT margin expansion includes a higher amortization expense as Global 7500 deliveries increase. The full
year outlook for earnings reflects the partial year contribution from ongoing divestitures of the CRJ program and
Aerostructures businesses.
• Free cash flow is expected to be positive in 2020, excluding Credit and RVG payments. These residual liabilities
related to the exit of commercial aircraft are estimated to be approximately $200 million for the year and are expected
to be paid from the CRJ transaction proceeds.
“We are incredibly proud of the many achievements and tremendous impact Bombardier had on the commercial
aviation industry, said President and Chief Executive Officer, Bombardier Inc. We are equally proud of the
responsible way in which we have exited commercial aerospace, preserving jobs and reinforcing the aerospace
cluster in Québec and Canada. And, we are confident that the A220 program will enjoy a long and successful run
under Airbus’ and Québec’s stewardship.”
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Cat Financial (USA) Announces Fourth-Quarter and Full-Year 2019 Results
Full-Year 2019
• Revenues of $2.97 billion for 2019, an increase of $119 million, or 4%, compared with 2018. Profit was $410
million for 2019, a $105 million, or 34%, increase from 2018.
• The increase in revenues was primarily due to a $108 million favourable impact from higher average financing rates
and a $21 million favourable impact from higher average earning assets, partially offset by a $35 million
unfavourable impact due to the termination of a committed credit facility with Caterpillar.
• Profit before income taxes was $628 million for 2019, a $195 million, or 45%, increase from 2018. Most of the
increase was due to a $192 million decrease in provision for credit losses, driven by a lower allowance rate compared
with 2018.
• The provision for income taxes reflected an annual tax rate of 31% for 2019, compared with 25% for 2018. The
increase in the annual tax rate was primarily due to changes in the geographic mix of profits.
• During 2019, retail new business volume was $11.89 billion, a decrease of $189 million, or 2%, from 2018. The
decrease was primarily driven by lower volume in Asia/Pacific and EAME, partially offset by higher volume in
Mining.
Fourth-Quarter 2019
• Revenues of $725 million, an increase of $26 million, or 4%, compared with the fourth quarter of 2018.
Fourth-quarter 2019 profit was $104 million, an $86 million, or 478%, increase from the fourth quarter of 2018.
• The increase in revenues was primarily due to a $23 million favourable impact from returned or repossessed
equipment and a $20 million favourable impact from higher average financing rates, partially offset by a $10 million
unfavourable impact from lower average earning assets and a $10 million unfavourable impact due to the termination
of a committed credit facility with Caterpillar.
• Fourth-quarter 2019 profit before income taxes was $161 million, a $115 million, or 250%, increase from the fourth
quarter of 2018. Most of the increase was due to a $118 million decrease in provision for credit losses, driven by a
lower allowance rate compared with 2018.
• The provision for income taxes reflected an effective tax rate of 32% in the fourth quarter of 2019, compared with
48% in the fourth quarter of 2018. The decrease in the effective tax rate was primarily due to changes in the
geographic mix of profits.
• During the fourth quarter of 2019, retail new business volume was $3.26 billion, an increase of $160 million, or 5%,
from the fourth quarter of 2018. The increase was primarily driven by higher volume in North America, partially
offset by lower volume in Latin America.
"We were very pleased with the overall performance of our business during 2019, especially the portfolio health
improvements and solid operational execution delivered by our dedicated global team, said President of Cat
Financial and vice president with responsibility for the Financial Products Division of Caterpillar Inc. With our
ongoing focus on expanding our ability to serve customers globally through financial services solutions, we
remain well-positioned to serve the needs of Caterpillar, Cat dealers and our growing customer base worldwide."
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Celanese (USA) Corporation Reports Full Year 2019 And Fourth Quarter
Earnings
• Reported GAAP diluted earnings per share of $6.89 and adjusted earnings per share
of $9.53 for 2019.
• Net sales for the full year were $6.3 billion, as price and volume declined by 7
percent and 3 percent, respectively, from 2018. Despite weak demand and broad
industry destocking across 2019, all businesses executed controllable actions centered
on capturing new business opportunities, executing productivity initiatives, and
deploying high-return capital to deliver solid performance.
• The Company generated robust operating cash flow of $1.5 billion and free cash flow
of $1.1 billion. Celanese returned a record $1.3 billion in cash to shareholders during
2019, including $300 million in dividends and $1.0 billion in share repurchases.
• During the year, the Company repurchased 7 percent of total shares outstanding.
Based primarily on further controllable actions including productivity initiatives and
capital deployment, the Company expects to reach 2020 adjusted earnings of
approximately $11 per share despite no assumed meaningful improvement from 2019
market conditions.
• Celanese also recorded fourth quarter GAAP diluted earnings per share of $0.35 and
adjusted earnings per share of $1.99.
• The difference between GAAP and adjusted earnings per share for the quarter was
due primarily to Certain Items including a pension mark to market adjustment, a
reserve related to the European Commission investigation, and the incident at Clear
Lake.
"Against significant challenges throughout 2019, underpinned by disappointing
global demand, our teams demonstrated great resiliency in delivering the second
strongest performance in Celanese history. In this environment, our heightened
focus on the factors within our control, including a robust productivity program and
high-return capital deployment, has allowed us to weather these challenges and
remain positioned to deliver on our long-term growth ambitions in 2020 and
beyond," said Chief executive officer.
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Celanese (USA) To Acquire Nouryon’sRedispersible Polymer Powders Business
Celanese Corporation, a global chemical and specialty materials
company, and Nouryon announced they have signed an agreement for
Celanese to acquire Nouryon’sredispersible polymer powders business
offered under the Elotex® brand. As part of the acquisition, Celanese
will acquire all of Nouryon’s global production facilities for
redispersible polymer powders across Europe and Asia, all products
under the Elotex portfolio, as well as all customer agreements,
technology and commercial facilities globally. Celanese expects to
integrate Elotex’sredispersible polymer powder product portfolio and
production facilities into its global acetyl chain to further meet global
product demand. Elotex has production facilities in Europe and China
that include Frankfurt, Germany; Geleen, Netherlands; Moosleerau,
Switzerland; and Shanghai, China. Elotex’s manufacturing facilities in
Frankfurt and Geleen are co-located and operationally integrated with
Celanese emulsions assets at these locations. Elotex has its global
headquarters, R&D and Technical Services functions located in
Sempach, Switzerland.
“By acquiring Elotex, Celanese will have direct access to a relatively
fast-growing applications and a customer base that is complementary
to our emulsions business. The acquisition offers additional flexibility
and downstream growth optionality through derivatization, both of
which are vital to unlock value under our unique global acetyl chain
business model,” said Senior vice president, Acetyls. With this
acquisition, Celanese will extend its global leadership position in the
VAE emulsions space and continue to support our customers in
construction and building materials, where Celanese is already
focusing significant product, solution and customer development
efforts.”
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CF Industries Holdings, Inc. (USA) Reports Full Year 2019 Results
Highlights
• Full year net earnings of $493 million, or $2.23 per diluted share; EBITDA (2) of $1,620 million; adjusted EBITDA (2) of $1,610
million
• Fourth quarter net earnings of $55 million, or $0.25 per diluted share; EBITDA of $306 million; adjusted EBITDA of $325 million
• Full year net cash from operating activities of $1,505 million, free cash flow (3) of $915 million
• Lowest year-end 12-month rolling average recordable incident rate in company’s history
• Set company record for quarterly gross ammonia production in fourth quarter
• Redeemed $750 million in debt, lowering long-term debt to $4.0 billion
• Repurchased 1.9 million shares during the quarter
Executive commentary
“The CF team executed exceptionally well in 2019, achieving our lowest year-end recordable incident rate ever and delivering a 15
percent increase in adjusted EBITDA compared to 2018, said President and chief executive officer, CF Industries Holdings, Inc. Our
2019 performance and our position on the low-end of the global nitrogen cost curve enabled us to generate more than $900 million in
free cash flow, strengthen our balance sheet and increase shareholder participation in the underlying business. As a result, we
delivered a one-year total shareholder return of 13 percent, which was the top performance in our fertilizer peer group.”
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CNH (UK): 2019 Fourth Quarter and Full Year Results
Highlights
• Consolidated revenues of $28.1 billion in 2019, down 6% year-over-year on reported basis and down 2% at constant currency
• Net income of $1,454 million in 2019, up $355 million compared to 2018, after $274 million of pre-tax charges related to the
“Transform2Win” strategy, and the positive impact of a previously announced $539 million discrete tax benefit recognized in the
third quarter
• Adjusted net income of $1,178 million, up $61 million (up 5%) compared to 2018
• Adjusted diluted earnings per share (2)(3) of $0.84, up 5% compared to 2018
• Total of $332 million returned to shareholders in 2019 through cash dividends and share buy-back
• Recommended annual cash dividend of €0.18 per common share flat to 2019
Full Year 2020 Guidance
• Net sales of Industrial Activities in constant currency flat to slightly down versus 2019
• Adjusted diluted EPS between $0.78 and $0.86
• Free cash flow of Industrial Activities (2)(3) between $400 million and $600 million
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Danaher (USA) Reports Fourth Quarter and Full Year 2019 Results
• For the quarter ended December 31, 2019, net earnings were $792.9 million, or $1.07 per
diluted share which represents a 11.5% year-over-year increase from the comparable 2018
period.
• Non-GAAP adjusted diluted net earnings per share for the fourth quarter 2019 were $1.28
which represents a 12.5% increase over the comparable 2018 period. For the fourth quarter
2019, revenues increased 5.5% year-over-year to $4.9 billion, with non-GAAP core revenue
growth of 6.0%.
• For the full year 2019, net earnings were $2.4 billion, or $3.26 per diluted share which
represents a 4.0% year-over-year decrease. Non-GAAP adjusted diluted net earnings per share
for 2019 were $4.42 per share, which represents a 9.0% increase over the comparable 2018
amount.
• Revenues for the full year 2019 increased 5.0% to $17.9 billion, with non-GAAP core
revenue growth of 6.0%.
• For the first quarter 2020, the Company anticipates that diluted net earnings per share will be
in the range of $0.78 to $0.81 and non-GAAP adjusted diluted net earnings per share will be in
the range of $1.06 to $1.09.
• For the full year 2020, the Company anticipates that diluted net earnings per share will be in
the range of $3.96 to $4.06 and non-GAAP adjusted diluted net earnings per share will be
$4.80 to $4.90, which assumes non-GAAP core revenue growth of approximately 5.0%.
• These first quarter and full year 2020 estimated results do not include the impact of earnings
from the pending GE Biopharma acquisition, which is expected to close in the first quarter of
2020.
President and Chief Executive Officer, stated, "Our fourth quarter results wrapped up a
tremendous 2019 for Danaher. For the full year, we achieved 6.0% core revenue growth
with solid margin expansion and cash flow. We continued to capture market share in many
of our businesses through new product innovation and enhanced commercial execution. In
addition, we completed the split-off of our Dental platform in December and announced the
pending acquisition of GE's Biopharma business."
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DOVER (USA) To Acquire Soft-Pak Software Solutions, A Leading Provider Of
Software For Waste And Recycling Fleets
Dover announced that it has entered into a definitive agreement to acquire So. Cal.
Soft-Pak, Incorporated, a leading independent provider of integrated back office, route
management and customer relationship management software solutions to the waste
and recycling fleet industry. Following the close of the transaction, Soft-Pak will
become part of the Environmental Solutions Group business unit, a leading supplier of
waste handling solutions to the North American waste and recycling industry, in
Dover’s Engineered Products segment. Soft-Pak is headquartered in San Diego,
California, and has a 30-year track-record of serving hundreds of waste and recycling
fleets nationwide with innovative software solutions tailored to the fleet customers’
unique needs. In 2014 Soft-Pak launched a highly innovative and successful
Mobile-Pak in-cab connected tablet solution, which includes real-time GPS tracking,
route management in real-time, and various functionalities allowing integration of
moving fleet into the hauler’s back-office. The acquisition enhances ESG’s
industry-leading digital offerings centered around connected refuse vehicle and
productivity-enhancing solutions. Further integration between a fleet’s mobile assets,
customer management and back-office operations will position ESG to deliver an
industry-leading integrated offering for refuse vehicles.
“We are excited to bring together Soft-Pak’s well-recognized industry-specific
software solutions and ESG’s growing software & digital portfolio. We believe the
integrated solutions will drive growth of ESG’s core refuse vehicle offering and
associated software, and deliver tangible value-add to our waste and recycling
industry customers, said President and Chief Executive Officer. This transaction is
another building block in Dover’s capital deployment strategy that emphasizes
investments in attractive close-to-core markets that offer potential for sustainable,
profitable growth, and where our team can create value for our shareholders.”
Description
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PPG (USA) to Acquire Alpha Coating Technologies, Light Industrial Powder Coatings
Manufacturer
Power management company Eaton announced it has agreed to acquire Power
Distribution, Inc., a leading supplier of mission critical power distribution, static
switching, and power monitoring equipment and services for data centers and industrial
and commercial customers. The company is headquartered in Richmond, Virginia, and
had 2019 sales of $125 million. The transaction is subject to customary closing
conditions and is expected to close in the first quarter of this year. Terms of the
transaction have not been disclosed. Eaton’s mission is to improve the quality of life
and the environment through the use of power management technologies and services.
We provide sustainable solutions that help our customers effectively manage electrical,
hydraulic, and mechanical power – more safely, more efficiently, and more reliably.
Eaton’s 2018 revenues were $21.6 billion, and we sell products to customers in more
than 175 countries. We have approximately 101,000 employees. This news release
contains forward-looking statements concerning the expected acquisition of Power
Distribution, Inc. some of which are outside the company’s control. The following
factors could cause actual results to differ materially from those in the forward-looking
statements: unexpected difficulties satisfying closing conditions and failure to complete
all required steps. We do not assume any obligation to update these forward-looking
statements.
“PDI’s portfolio is highly complementary to our current offering and will allow us to
better serve our data center customers, said President, Electrical Sector, Americas
region, Eaton. We have watched the growth of PDI for the last decade and are excited
to have them become part of Eaton.”
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Fabege(Sweden) Announce Year-end report 2019
• Rental income increased to SEK 2,856m. In an identical portfolio,
rental income rose slightly more than 14 per cent.
• Net operating income increased to SEK 2,144m. In an identical
portfolio, net operating income rose by 16 per cent.
• The surplus ratio was 75 per cent.
• Profit from property management rose by 23 per cent to SEK 1,532m.
• Realised and unrealised changes in the value of properties amounted
to SEK 5,743m.
• Net lettings in the fourth quarter totalled SEK 55m. Net lettings for
the full year totalled SEK −37m.
• Profit after tax for the year was SEK 6,006m, corresponding to
earnings per share of SEK 18.16.
• The Board proposes a dividend of SEK 3.20 per share to be paid on
two occasions in April and October respectively, each of SEK 1.60 per
share.
“Overall, 2019 was yet another good year for Fabege; property
management earnings increased by an impressive 23 per cent, while
our long-term net asset value rose by 16 per cent to SEK 145 per
share. We are seeing a persistently strong rental market and believe
that average rents in Stockholm will continue to rise. Demand for
acquisitions of properties in Stockholm also remains strong in both
Sweden and internationally. I am confident that we will see
transactions at new, record levels for individual areas. We have a
robust balance sheet, which is important for implementing and
leveraging opportunities in our existing portfolio and in the projects,
we work with and, given the right conditions, considering bolt-on
acquisitions and withstanding potential fluctuations in the market,
says CEO.
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Ingersoll Rand Reports Fourth-Quarter and Annual 2019 Results
Highlights
• Reported revenues up 7 percent; organic revenues* up 5 percent
led by the Climate segment
• Exceptional cash conversion for full-year 2019; cash flow from
continuing operating activities of $2 billion; free cash flow* of
$1.8 billion, 118 percent of adjusted net earnings*
• Fiscal 2019 capital deployment of $510 million in dividends,
$1.5 billion in acquisitions and $750 million in share repurchases
• GAAP full-year continuing EPS of $5.61; adjusted continuing
EPS* of $6.37, up 14 percent
• Reverse Morris Trust transaction with GDI on track for early
2020
“We marked another year of top quartile financial performance
in 2019 with 6 percent revenue growth, 14 percent EPS growth
and free cash flow of 118 percent of net earnings, successfully
navigating a rapidly evolving global economic and geopolitical
landscape,” said Chairman and chief executive officer of
Ingersoll Rand. Our highly engaged team consistently executed
our strategy focused on global energy efficiency and
sustainability mega trends to deliver strong and differentiated
results for our customers and shareholders. While we grew in all
of our Climate businesses, our Commercial HVAC business
growth was truly outstanding, with high-single digit percentage
growth globally and low-teens percentage growth in North
America. It was a challenging year for our Industrial businesses
with a decline in short cycle industrial spending globally;
however, our team ended 2019 with better than expected fourth
quarter revenues and operating income.”
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LANXESS (Germany) completes acquisition of Brazilian biocide manufacturer
IPEL
LANXESS completed the acquisition of ItibanylProdutosEspeciais Ltd. The competent anti-trust authorities approved the
transaction beginning of January. IPEL with headquarters in Jarinu, São Paulo, is one of Brazil’s leading biocide
manufacturers and generated sales in the lower double-digit million-euro range in 2018. With the acquisition, LANXESS is
strengthening its position as one of the world’s leading manufacturers of antimicrobial active ingredients and formulations. In
addition to around 100 employees and the production facility, LANXESS has taken over the Brazilian company’s laboratory
facilities. IPEL generates the majority of its sales with biocides and specialty chemicals for the paint and coating industry. The
product portfolio also includes preservatives and fungicides for process control in water treatment as well as active ingredients
for disinfection and cleaning agents. LANXESS is a leading specialty chemicals company with sales of EUR 7.2 billion in
2018. The company currently has about 15,500 employees in 33 countries and is represented at 58 production sites worldwide.
The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, additives,
specialty chemicals and plastics. LANXESS is listed in the leading sustainability indices Dow Jones Sustainability Index and
FTSE4Good.
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Lonza (Switzerland) Delivers Strong Full-Year 2019 Group Results, with 11%
Pharma Segment Growth
• Lonza Group delivers on guidance1 with 6.8% sales growth,
resulting in CHF 5.9bn sales, and CHF 1.6bn CORE EBITDA,
resulting in a 27.4% margin
• Pharma Biotech & Nutrition as driver, with 11.0% sales growth
and 32.9% CORE EBITDA margin
• Specialty Ingredients shows improved 17.8% CORE EBITDA
margin, despite sales growth of -3.2%; carve-out progressing
according to plan
• Lonza Group outlook 2020: above mid-single-digit sales
growth2, driven by high single- digit sales growth in LPBN, and
overall stable CORE EBITDA margin
• Mid-Term Guidance 2022 confirmed, supported by solid
building blocks
“Our people and business have delivered a strong Full-Year 2019
result. The biopharma business achieved double-digit sales
growth and a stable CORE EBITDA margin, even though we are
investing in significant growth initiatives. Our specialty
chemicals businesses showed soft full-year performance after
headwinds, but margins began to show improvement.” Said
Chairman and CEO ad interim, Lonza Group.
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LG (South Korea) Display LG Display Reports Fourth Quarter 2019 Results
• Revenues in the fourth quarter of 2019 increased by 10% to
KRW 6,422 billion from KRW 5,822 billion in the third quarter of
2019 and decreased by 8% from KRW 6,948 billion in the fourth
quarter of 2018.
• Operating loss in the fourth quarter of 2019 recorded KRW 422
billion. This compares with the operating loss of KRW 436 billion
in the third quarter of 2019 and the operating profit of KRW 279
billion in the fourth quarter of 2018.
• EBITDA in the fourth quarter of 2019 was KRW 586 billion,
compared with EBITDA of KRW 613 billion in the third quarter of
2019 and with EBITDA of KRW 1,134 billion in the fourth quarter
of 2018.
• Net loss in the fourth quarter of 2019 was KRW 1,817 billion,
compared with the net loss of KRW 442 billion in the third quarter
of 2019 and the net income of KRW 153 billion in the fourth
quarter of 2018.
“LG Display’s liability-to-equity ratio was temporarily increased
in the fourth quarter due to the asset impairment, but this is
expected to start to gradually improve down the road. The
positive anticipation is that factoring in asset impairment this
time means that uncertainty in the future is expected to be
removed and possible fluctuation in the company’s future
business is also expected to be reduced. In addition, depreciation
costs will be reduced by KRW 300 billion each year in the next
five years.” said CFO and Senior Vice President of LG Display.
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Mitsubishi Chemical (Japan) to Acquire European Carbon Fiber Prepreg Manufacturer
Mitsubishi Chemical Corporation announced that it will acquire a German Carbon Fiber Prepreg Manufacturer, c-m-p GmbH
through its subsidiary, Mitsubishi Chemical Advanced Material in a move to strengthen its presence in the carbon fiber
composite material business. The closing of the acquisition will be in February 2020. C-m-p has superior production
technology of unidirectional /fabric prepreg and provides solutions to various markets, particularly in the aerospace and
automotive fields. By this acquisition, MCC will have prepreg plants in Europe, USA and Japan. Addition to the start-up of
MCC’s sheet molding compound production facility in Modena, Italy*, MCC will enhance its capacity to produce carbon fiber
composite materials in Europe, where the mobility markets are taking the lead in applications for advanced composite
materials. In light of the expectations for carbon fiber composite materials in the creation of a circular economy, MCC will
strengthen its capability to propose solutions to customers while leveraging the group’s comprehensive strength, and in turn
accelerate the realization of KAITEKI.
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PPG (USA) to Acquire Alpha Coating Technologies, Light Industrial Powder Coatings
Manufacturer
PPG announced that it has reached a definitive agreement to
acquire Alpha Coating Technologies, LLC, a manufacturer of
powder coatings for light industrial applications and heat
sensitive substrates. The transaction is expected to close in the
first quarter of 2020, subject to customary closing conditions.
Financial terms were not disclosed.Founded in 2000, Alpha
focuses on the development, manufacture and sale of powder
coatings for light industrial applications; medium density
fiberboard and heat sensitive substrates; and toll manufactures
powder coatings for metal and light industrial applications.
Alpha employs approximately 35 people at its operations in
West Chicago, Illinois.
“Alpha’s best-in-class service, technology and quick
turnaround color matching capabilities will be a strategic
complement to PPG, said PPG vice president, Industrial
Coatings, Americas. We are pleased to welcome Alpha into
the PPG family and continue providing our customers with
outstanding products and services.”
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PulteGroup (USA) Acquires Innovative Construction Group, Leading Off-Site Solutions
Provider
PulteGroup, Inc. announced that it has acquired Innovative
Construction Group, a leading off-site solutions provider focused
on single family and multifamily wood framed construction.
Based in Jacksonville, Florida, ICG’s comprehensive framing
solutions include design services, manufactured wall panels, roof
trusses and floor systems, and on-site installation to provide a
full frame shell construction process. ICG will remain a
stand-alone operation and continue serving its existing customer
base and builder clients. The acquisition of ICG builds on
PulteGroup’s unique commonly managed plan platform and its
long-term strategy to drive greater production efficiency and
overall build quality. Off-site solutions can deliver high quality
framing components with less waste and help address trade labor
shortages that are a persistent problem for the construction
industry.
“We are extremely impressed with ICG’s management team
and automated plant operations, and look forward to working
with the company’s founders, who will continue to lead the
organization, said President and CEO of PulteGroup. As we
capitalize on ICG’s existing products and services, we expect
to expand the factory’s production capabilities to provide
additional products and services to ICG’s customers. In
acquiring ICG, we see the potential for our Jacksonville
operations to benefit through faster cycle times, precision
structural components and savings on lumber and other
materials, ICG can also serve as a model to intelligently
integrate the use of off-site production with our existing trade
partners.”
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Rockwell Automation (USA) Reports First Quarter 2020 Results
First quarter
• Fiscal 2020 first quarter sales were $1,684.5 million, up 2.6 percent from
$1,642.3 million in the first quarter of fiscal 2019. Organic sales declined 1.0
percent, currency translation decreased sales by 0.9 percentage points, and
acquisitions increased sales by 4.5 percent.
• Fiscal 2020 first quarter net income attributable to Rockwell Automation was
$310.7 million or $2.66 per share, compared to $80.3 million or $0.66 per share in
the first quarter of fiscal 2019.
• Fiscal 2020 first quarter Adjusted EPS was $2.11, down 5 percent compared to
$2.21 in the first quarter of fiscal 2019.
• Pre-tax margin was 19.9 percent in the first quarter of fiscal 2020 compared to
7.4 percent in the same period last year. The increase in pre-tax margin was due to
the PTC adjustments.
• Total segment operating margin was 20.1 percent compared to 22.8 percent a year
ago. The decrease in total segment operating margin was primarily due to Sensia
one-time items, higher investment spending, and unfavorable mix. Total segment
operating earnings were $339.1 million in the first quarter of fiscal 2020, down 9.5
percent from $374.9 million in the same period of fiscal 2019.
• Cash flow provided by operating activities in the first quarter of fiscal 2020 was
$231.1 million, compared to $212.0 million in the first quarter of fiscal 2019. Free
cash flow was $194.1 million, compared to $170.0 million in the first quarter of
fiscal 2019.
"Despite a difficult macro environment for manufacturers, first quarter sales and
Adjusted EPS were slightly better than we expected. We saw growth in
Automotive and Semiconductor as well as strength in China. Our first quarter
sales also included strong double-digit growth in Information Solutions and
Connected Services and a significant contribution from our inorganic
investments, said Chairman and CEO. Our balance sheet remains strong, and we
continue to look for opportunities to accelerate progress on our strategic
priorities."
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Siemens (Germany)to acquire C&S Electric in India to meet growing electrification needs
Siemens Ltd. signed an agreement to acquire New Delhi-based C&S
Electric Limited. The acquisition of one of the leading providers of
electrical and electronic equipment for infrastructure, power generation,
transmission and distribution, will strengthen Siemens’ position as a key
supplier of low-voltage power distribution and electrical installation
technology in one of the world’s fastest-growing economies. Under the
agreement, Siemens Ltd. will acquire approximately 99 percent of the
equity share capital of C&S Electric Limited for around Rs. 2,100 crores.
Closing of the acquisition is subject to regulatory approvals. In the future,
Siemens envisions this partnership to pave the way for the establishment
of a design and manufacturing hub in India, supporting the export of
electrification solutions to fast-developing markets around the world. The
scope of the acquisition comprises the Indian operations of C&S Electric’s
low-voltage switchgear components and panels, low and medium voltage
power busbars as well as protection and metering devices businesses.
Other businesses of the company such as medium voltage switchgear and
package sub-station, lighting, diesel generating sets, EPC (Engineering,
Procurement and Construction) and the Etacom busbars business will be
retained by the owners.
Commenting on the acquisition, Member of the Managing Board of
Siemens AG and CEO Smart Infrastructure, said: “Safe, intelligent and
reliable electrification is the backbone of economic and societal
development. Joining forces with C&S Electric allows us to bring a
more comprehensive portfolio that addresses the needs of a very
important market. Siemens is committed to significantly improving
access to reliable and efficient power supply in India. This latest
investment demonstrates our commitment to strengthening our offering
in high growth markets in Asia.”
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Transdigm (USA) Group Reports Fiscal 2020 First Quarter Results
First quarter highlights include:
• Net sales of $1,465 million, up 47.5% from $993 million;
• Net income from continuing operations of $233 million, up 18.9% from
$196 million;
• Earnings per share from continuing operations of $0.83, down 72.8%
from $3.05;
• EBITDAAs Defined of $681 million, up 39.8% from $487 million;
• Adjusted earnings per share of $4.93, up 28.1% from $3.85; and
• Reaffirmation of our previously stated guidance for fiscal 2020 Sales,
EBITDAAs Defined and Adjusted Earnings Per Share.
• Net sales for the quarter rose 47.5%, or $472 million, to $1,465 million
from $993 million in the comparable quarter a year ago. Organic sales
growth was 8.7%. Acquisition sales contributed $385 million, all of
which are attributable to Esterline.
• Net income from continuing operations for the quarter increased 18.9%
to $233 million compared to $196 million in the comparable quarter a
year ago.
"We are pleased with our first quarter operating results and the strong
start to our fiscal year, stated TransDigm Group's President and Chief
Executive Officer. Our consolidated business performed well in the first
quarter with organic revenue growth driven mainly by the commercial
aftermarket and defense market. We are particularly pleased with our
EBITDA As Defined improvement for the quarter. Excluding the
dilutive impact of Esterline, our EBITDA As Defined continued to
expand sequentially and over the prior year period to above 51% in the
quarter. Additionally, the Esterline acquisition still continues to track
ahead of our expectations."
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United Technologies (USA) Reports 2019 Results
Fourth Quarter 2019
• Sales of $19.6 billion, up 8 percent versus prior year, including 1
percent organic growth
• GAAP EPS of $1.32, up 59 percent versus prior year
• Adjusted EPS of $1.94, down 1 percent versus prior year
Full Year 2019
• Sales of $77.0 billion, up 16 percent versus prior year including
5 percent organic growth
• GAAP EPS of $6.41, down 1 percent versus prior year
• Adjusted EPS of $8.26, up 9 percent versus prior year
"United Technologies delivered record sales, adjusted earnings
per share and free cash flow in 2019 on continued aerospace
strength and a return to profit growth at Otis, said UTC
Chairman and Chief Executive Officer Gregory Hayes. Organic
sales grew 5 percent and adjusted earnings and free cash flow
exceeded the high end of the ranges we expected. In a year of
unprecedented change, our 2019 financial performance is a
testament to our focus on our customers and the hard work and
dedication of the 240,000 employees across UTC."
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Vinci (France) announce annual results 2019
• Revenue up 10% to €48.1 billion
• Concessions up 18% (of which organic growth +6%): growth in traffic
levels at VINCI Autoroutes and in passenger numbers at VINCI Airports
• Contracting up 9%: higher business levels across the three business lines
• VINCI Immobilier revenue up 20%
• Solid earnings growth:
• Operating income from ordinary activities: up 15% to €5.7 billion
• Net income attributable to owners of the parent: up 9% to €3.3 billion
• Very strong free cash flow generation: €4.2 billion, €1 billion more than
in 2018
• Dividend proposed for 2019: €3.05 per share
• Accelerated social and environmental responsibility policy, including a
targeted 40% reduction in the Group’s carbon footprint by 2030
VINCI’s Chairman and CEO, made the following comments: “VINCI
broke records in 2019. Business levels grew strongly both in France and
abroad, earnings rose again and cash flow was outstanding. That very
good performance was achieved through the hard work of VINCI’s
222,000 employees. It confirms the strength of our
Concession-Contracting business model and our ability to integrate new
companies successfully. The year’s main highlight was the acquisition
of a majority stake in London Gatwick, the second-largest airport in the
United Kingdom and the eighth-largest in Europe.”
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Grainger (USA) Reports Results for the 2019 Fourth Quarter and Full Year
2019 Financial Highlights
• Sales of $11.5 billion, up 2.5 percent, 3.0 percent on a constant currency
basis
• Reported operating earnings of $1.3 billion, up 9 percent; adjusted
operating earnings of $1.4 billion, up 3 percent
• Reported operating margin of 11.0 percent, up 70 basis points; adjusted
operating margin of 12.1 percent, up 10 basis points
• Reported EPS of $15.32, up 12 percent; adjusted EPS of $17.29, up 4
percent
• Returned over $1.0 billion cash to shareholders
Fourth Quarter Financial Highlights
• Sales of $2.8 billion, up 3.0 percent
• Reported operating earnings of $181 million, down 37 percent; adjusted
operating earnings of $307 million, down 1 percent
• Reported operating margin of 6.4 percent, down 410 basis points;
adjusted operating margin of 10.8 percent, down 40 basis points
• Reported EPS of $1.88, down 49 percent; adjusted EPS of $3.88, down
2 percent
"In 2019, we grew sales, operating earnings and EPS despite
challenging and uncertain economic conditions. Our sales growth in the
U.S. outperformed the market throughout the year, and our share gain
accelerated in the fourth quarter, as our growth initiatives began to take
hold. At our U.S. endless assortment business, Zoro, we continued to
invest in the business to ensure ongoing success. At the total company
level, our strong expense control held SG&A stable and enabled our
advertising, technology and Zoro investments, " said Chairman and
Chief Executive Officer. As we look to 2020, we will diligently manage
expenses while continuing to invest in future growth. We are confident
in our strategy and ability to execute moving forward."
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Solutions Updates
Manufacturing Industry

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LANXESS (Germany) Tailored solutions for the tire industry
33
Solution Description
LANXESS will be showcasing its versatile and sustainable solutions for tire manufacturing at the Tire Technology Expo in Hanover, Germany.
These include a wide range of environmentally friendly Rhenodiv release agents, Rhenomark tire marking paints, Rhenoshape tire vulcanization
bladders, Rhenogran aramid-fiber masterbatches, and special additives. Photo: LANXESS AGLANXESS will be showcasing its versatile and
sustainable solutions for tire manufacturing at the Tire Technology Expo in Hanover, Germany, from February 25 to 27, 2020. These include a wide
range of environmentally friendly Rhenodiv release agents, Rhenomark tire marking paints, Rhenoshape tire vulcanization bladders, Rhenogran
aramid-fiber masterbatches, and special additives. Rhein Chemie offers a diverse portfolio of release agents. It extends from traditional
silicone-based products such as Rhenodiv BP-286 and Rhenodiv BP-2864 which are removed after vulcanization from the tires with mechanical
washing systems or by laser technology, to the new generation, silicone-free products such as Rhenodiv BP-166 and Rhenodiv BP-9500. The
water-based bladder coating Rhenodiv BC-1700 provides a high-performance release on the bladder surface while minimizing the environmental
effects and increasing work safety. With their superior lubricity and excellent transfer from green tire to the bladder, Rhenodiv SP-1010 and
Rhenodiv SP-1020 help manufacturers to decrease the scrap rates and save resources.

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LANXESS (Germany) joins World Business Council for Sustainable Development
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LANXESS has enhanced its commitment to sustainability. The specialty chemicals company joined the World Business Council for
Sustainable Development. The WBCSD is a global, CEO-led organization working together to accelerate the transition to a sustainable
world. At the core of the network are its six work programs, for example on climate and energy or circular economy, targeting the
realization of the United Nation’s Sustainable Development Goals. The WBCSD’s approximately 200 member companies represent 19
million employees and USD 8.5 trillion in sales. In the last few months, LANXESS has focused its business activities even more on
sustainability. The specialty chemicals company announced in November 2019 that it will become climate neutral by 2040. In December,
LANXESS linked the interest rate terms of its main revolving credit facility to sustainability criteria. LANXESS is a leading specialty
chemicals company with sales of EUR 7.2 billion in 2018. The company currently has about 15,500 employees in 33 countries and is
represented at 58 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of
chemical intermediates, additives, specialty chemicals and plastics. LANXESS is listed in the leading sustainability indices Dow Jones
Sustainability Index and FTSE4Good.

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NSK (Japan) Expands Production of Ball Screw Units for Electric-Hydraulic
Brakes
35
NSK Ltd. has inaugurated a second line producing ball screw units for electric-hydraulic brakes. Global demand for the ball screw units
is rapidly increasing with regulators mandating new vehicles be equipped with automatic emergency braking systems. NSK started
production of the units in March 2019 at its Saitama Plant. The newly inaugurated line, at Akagi Plant, began production in January 2020.
The automotive industry is set to revolutionize automotive safety over the next few years. Regulators around the world have mandated
new vehicles be equipped with automatic emergency brake systems. The requirements are coming into effect around 2021-2022 in Japan,
the United States, and the European Union. Automatic emergency brake systems help prevent accidents by scanning the road ahead of the
vehicle and engaging the brakes to avoid potential collisions. The system automatically brakes if approaching another vehicle or obstacle
at a speed that could result in an accident. NSK began mass production of ball screw units for electric-hydraulic brake systems in March
2019. The unit is a compact and lightweight combination of high reliability ball screw and support bearing made possible by NSK's
world-class ball screw technology and over a century of expertise in bearings. The units are already in consumer vehicles on the road, and
automakers are rolling out implementation to other models. NSK established the new line to respond to rapidly growing demand. NSK is
also considering establishing additional production sites outside Japan, and is aiming to produce 10 million units a year globally by 2026.
The company is investing around 10 billion yen to expand ball screw production capacity.

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Rolls-Royce (UK) Data innovation catalyst R2 Data Labs launch new digital platform designed
to bring the aviation industry together for open discussion and digital value exchange.
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Rolls-Royce data innovation catalyst R2 Data Labs has launched Yocova – a new data exchange and collaboration platform for the
aviation sector. The platform seeks to empower users by providing an online space for open, secure data sharing and insight while
offering an exchange through which users can sell their data-driven assets and software applications. Yocova allows aviation
professionals to connect with each other in order to collaborate, control and commercialise data sources and applications. The
platform, which is designed to help users manage complex data environments, was originally conceived as part of our
IntelligentEngine vision as a secure space for users to flexibly share data sources. The platform has since grown and has already
welcomed a large number of individual users, data science specialists and aviation application providers, including Singapore
Airlines – the first major airline participant. Singapore Airlines has worked closely with Rolls-Royce to develop the concept of an
open data collaboration and innovation platform from product to prototype. Today, the airline uses the platform to enhance its own
operations. Yocova has been operating successfully as a trial platform for more than six months with an invited set of data specialists,
software providers, and individual airline users. Having now secured its first major industrial participant in Singapore Airlines,
Yocova will now seek broader content and commercial investment from industry partners.

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Safran(France) launches its brand-new Health Monitoring service
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Safran launching the Health Monitoring service that enables customers to track their engines' health indicator, Safran Helicopter has
broadened its service offer. The service now has brand new features such as daily health indicators, in addition to the monthly
recommendations; full automation of the engine performance trend follow up; and a newly user-friendly online interface. Safran is
reinforcing the service's customization possibilities and improves the user experience.During Heli-Expo, Air Center Helicopters has
become the first North American operator to subscribe to the Premium Health Monitoring service.Safran Helicopter Engines uses
predictive analyses and preventive maintenance to preserve the customers' engines and optimize the operations of its customers. This
service is based on more than sixty engine parameters that are converted into indicators through our algorithms. With the knowledge
of the proximity-based Safran experts, the recommendations are tailored to the customers' operational configuration. Each Health
Monitoring report also benefits from the worldwide fleet experience.Health Monitoring already covers 3,200 engines operated by 500
customers.Health Monitoring is available for SBH® - Support by the Hour customers in its Premium version. The operators
benefiting from the service have seen reduction in costs, particularly in terms of labor, logisitics and administration. Support by the
Hour - SBH® now proposes two expert digital solutions: Health Monitoring and Expert Link. SBH® is now digital and fully linked
to cost control, engine protection and optimized technical support. Health Monitoring, Expert Link and SBH® are services that are
part of the EngineLife® range, Safran solutions for helicopter engines.

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SASOL (South Africa) Launches Mobile Science Lab at Sci-Bono
38
The Sasol Foundation this morning handed over a one-of-a kind Mobile Science Laboratory to the Sci-Bono Discovery
Centre in Newtown, Johannesburg. The lab, which is the tenth of its kind nationally, will bring practical science education to
thousands of learners in underprivileged schools in the southern and western districts of Johannesburg. The latest Trends in
International Mathematics and Science Study of 2015 showed that, out of 39 countries surveyed globally, South Africa’s
national average score for grade nine mathematics was in 38th position. In science, the country was in last place. As a result,
university graduation in science, technology, engineering and mathematics related courses is at a low 20%, according to the
National Science and Technology Forum. South Africa has seen some improvements in our education system and 81.3% of
2019’s grade 12 learners graduated, the highest matric pass rate since the founding of our democracy. However, more still
needs to be done to enable access to facilities such as equipped science laboratories. The Mobile Science Lab Programme is
the Sasol Foundation’s contribution to supporting government in addressing this challenge. First introduced in 2014 as a
partnership between the Sasol Foundation, the Department of Science and Innovation and the South African Agency for
Science and Technology, the programme has grown to comprise nine laboratories across the country.

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Schneider Electric (France) Showcases SF6-free Switchgear at Elecrama 2020
39
Schneider Electric, the global leader in digital transformation of energy management and automation, today launched its
SF6-free switchgear at Elecrama 2020, India’s largest congregation of power sector ecosystem. The switchgear uses Shunt
Vacuum Interruption for switching and pure breathable air for insulation. The new technology offers a sustainable alternative
to SF6 switchgear while maintaining an acceptable level of cost that’s necessary for the widespread adoption of sustainable
switching technologies. The switches are compatible with Schneider Electric’s IoT enabled architecture, EcoStruxure, and
allow users to take advantage of the digital features to unlock the value of data. The increasing demand for electricity and the
diversity of energy generation has increased the need for electrical infrastructure, such as switchgear and circuit breakers. SF6
has been widely used across the industry, from large power stations to wind turbines to electrical substations in towns and
cities, because it helps prevent electrical accidents and fires. It exhibits valuable electrical properties, but it contributes to the
greenhouse effect, with a Global Warming Potential of 23,500, which means 1 kg of SF6 has an impact of 23,500 kg of CO2
on the environment. When the scientific research confirmed this issue Schneider Electric launched a mission to create
alternative, sustainable MV switchgear that not only helps to reduce greenhouse gas inventory, but also avoids the problems
of end-of-life recapture, recycling, and leakage.

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Schneider Electric (France) launchesModicon M262, IIoT-Ready Controller for Logic & Motion
Applications, in India
40
Schneider Electric, the global leader in the digital transformation of energy management and automation, announced the launch of a powerful solution
for what it calls the ‘smart machine era’. The solution, New Modicon M262 controller is IIoT-ready for logic and motion applications. It offers intuitive,
scalable and reliable machine integration into Industry 4.0 environment, machine to device, machine to human, machine to machine, machine to plant
or machine directly to cloud. Additionally, Modicon M262 Controller embeds cybersecurity features and encryption protocols to provide direct cloud
connectivity and digital services through two ready-to-work and independent embedded Ethernet ports.
The Modicon M262’s key benefits include:
• Connectivity: Up to 5 one-to-one independent Ethernet networks and cyber secured cloud connectivity for easy integration into the plant with open
protocols, including OPC UA, PackML, SQ or to the cloud with MQTT, JSON or HTTPs requests (API).
• Efficiency: With 4 to 16 synchronized axes with scalable cycle time down to 1 ms and a 3 ns/inst processing speed independent from communication
tasks, Modicon M262 Controller answers performance demanding motion applications. Modicon M262 Controller helps simplifying machine
architecture and field bus wiring. And with Machine Assistant (webserver technology), no software is required for devices discovery, commissioning
and diagnostics.
• Flexibility: Modicon M262 Controller answers to logic application needs, where it can be also an “All-in-One” motion controller, embedding all
requested features as Motion bus, encoder and touch probes. Safety can be modular or embedded. With choice between Optimized and Performance I/O
systems, Modicon M262 Controller provides versatile architectures around EtherNet/IP and/or Sercos – all under one software EcoStruxure Machine
Expert.
• Protection: With Embedded Safety solution, Modicon M262 Controller complies with the latest safety regulations up to SIL3. It offers embedded
encrypted communication, network separation, Achilles certification and other cybersecurity features.

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Schneider Electric (France) Showcases its Portfolio of Sustainable & Digital Solutions for the
New World of Electricity
41
Schneider Electric, the global leader in energy management and automation, is at the 14th edition of ELECRAMA 2020, the
largest congregation of power sector ecosystem in the country. Committed towards powering and digitising the economy, the
company will be showcasing its state-of-the-art technologies across segments such as Connected Grid, Smart City, MMM,
Transportation, Residential, Real Estate, Data Centre, Hotels, Healthcare, WWW, Manufacturing, HR and Services. For the very
first time, as a part of ELECRAMA 2020, Schneider Electric will also be organising a Thought Leadership Theatre. With
TED-style talks and panel discussions the TLT will showcase discussions with Schneider Electric global and India leaders along
with industry experts around critical issues including Cybersecurity, Circular Economy, Digital Buildings, Sustainability,
Workforce of the Future, Connected Homes and more. Through these sessions, the company aims to provide insights into
emerging technologies, innovation, climate crisis. It will also help understand the impact of digitisation on the economy and the
new world of electricity.

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Mack Trucks (USA) launches medium-duty trucks
42
Mack Trucks launched the all-new Mack MD series of medium-duty trucks, adding to its already robust product line-up to
reach new customers and applications. Serial production of the Mack MD Series will begin in July 2020. Mack also
announced a $13 million investment to establish its Roanoke Valley Operations, a new manufacturing facility in Roanoke
Valley, Virginia, for the production of the Mack MD Series. The project will result in the creation of 250 new jobs. The Mack
MD6, a Class 6 model, has a Gross Vehicle Weight Rating of 25,995 pounds, and the MD7, a Class 7 model, has a GVWR of
33,000 pounds. These new products will meet the needs of trucking applications requiring dry van/refrigerated, stake/flatbed,
dump and tank truck vocations. The Mack MD Series is an all-new model range built specifically for medium-duty
applications. Available in 4x2 configurations, the MD6 and MD7 models feature a sharp wheel cut for enhanced
manoeuvrability for tough urban settings. The Mack MD Series will be supported by Mack’s extensive dealer network.

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Airbus Helicopters (Netherland) launches new collaborative customer portal
and online Marketplace
43
Airbus Helicopters has unveiled a number of improvements to its digital services ecosystem based on feedback from customers,
including the new collaborative AirbusWorld customer portal and an online Marketplace making e-commerce practices from the
consumer world available to Airbus customers. The new collaborative portal, which replaces Keycopter, offers a simplified and
streamlined navigation and user experience, integration of the global network of service and training centres, and new
functionalities such as an online catalogue and online communities to foster open dialogue among operators and with Airbus
Helicopters. AirbusWorld is also an integral part of the Connected Services end-to-end digital solution, enabling customers to
manage their data and consult a growing number of Airbus analytics on the platform. The new online Marketplace brings B2C
e-commerce practices to the helicopter industry. An evolution of the current eOrdering service of AirbusWorld, the Marketplace
proposes a wide selection of high-demand products and parts – tools & ground support equipment, chemicals, hardware and more
– to customers via specialised vendors. Benefits for customers include a more diverse worldwide product inventory, including
non-Airbus Helicopters products; a one- stop-shop approach at one online location; a more competitive offer; faster turnaround
times with delivery direct to customer premises; and the ability to choose from a wider range of quantities. At Heli-Expo, four
U.S.-based companies – Wesco Aircraft, Boysen Aerospace, PPG Aerospace and Addev Materials – signed vendor agreements
with Airbus, making them official vendors of these supplies on the Airbus Helicopters marketplace in North America.

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Cummins (USA) showcases newest 12kW Tier 4 Final mobile power generator
technology at ARA
44
Cummins Inc. announced it will showcase the 12kW mobile generator set, the newest addition to the Tier 4 Final mobile
generator product line at the American Rental Associate Show.The generator packaging components are manufactured by
Cummins, a company synonymous with innovation, dependability and service for over 100 years, to ensure operations will be
always on, 24 hours a day, seven days a week. The C12D6RE is powered by a U.S Tier 4 Final certified, 4-cycle liquid cooled
diesel engine, meeting stringent EPA standards. The new mobile generator model can operate reliably across extreme
temperatures, heavy airborne dust and highly humid conditions ranging from -20 °F to 120 °F. The generator’s enclosure
incorporates a weatherproof sound attenuation able to withstand extreme weather, while minimizing the generator’s noise levels
at the same time. The unique sound-controlled housing covering the cooling system and muffler on the 12kW model further
simplifies the installation process. The C12D2RE is rugged and robust by design and the new heavy-duty trailer ensures even
greater reliability for any mobile power application. This new model can support a variety of industries requiring mobile power,
ranging from entertainment venues to construction sites and industrial manufacturing operations located in urban or remote
locations. The generator’s built-in self-diagnostic capabilities can simplify troubleshooting. As a result, customers can expect
more stability, greater uptime and lower labor costs leading to lower total cost of ownership.

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Hydro Systems (USA) Launches Versatile Single-Pump Warewash Dispenser
45
Hydro Systems, part of PSG and Dover announced the introduction of the CP-500, a single pump dispenser. The
CP-500 is a versatile and easy-to-use unit for automatic ware washing in commercial kitchens. It is designed to
deliver the full range of dishwashing products, including, rinse aid, detergents and sanitizers. Straight-forward
and quick to install, the CP-500 is pre-wired and easily programmed using two analog adjustments for time or
speed, meaning the unit can be on the wall and delivering product in a matter of minutes. The CP-500 is a reliable
unit for single tank, door-style machines or glass washers, and is the ideal choice for those who require an
economic dispenser that minimizes service costs at smaller accounts. The CP-500 delivers on Hydro’s trademark
capabilities of accuracy and reliability with fewer features to accommodate tighter budgets. The unit has an
attractive and sleek design and a small footprint that allows it to fit in areas with minimal wall space. It also meets
all applicable global electrical standards, including UL and CE approvals.

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Eastman (USA) showcases sustainable cosmetics portfolio at LUXE PACK LA
46
Global specialty plastics provider Eastman showcases its sustainable cosmetics portfolio at LUXE PACK Los Angeles at the Los Angeles
Convention Center. Eastman will feature new-generation Eastman Trēva™ engineering bioplastic with more than 70% sustainable content and
Cristal Revēl™ copolyesters, compounded polyesters that are made from post-consumer recycled content, as well as Eastman copolyesters that
include RIC 1 options. Eastman initially unveiled its sustainable packaging breakthroughs at LUXE PACK MONACO, where it won the 2019
LUXE PACK in green Award in the Responsible Initiatives category for activating the circular economy. Eastman's sustainable packaging
solutions are part of The Glass Polymer™ family of cosmetic materials, produced through Eastman's three recycling technology loops: carbon
renewal technology, polyester renewal technology and mechanical recycle stream technology. Utilizing CRT, Eastman is now producing a next
generation of Trēva with 71.5% sustainable content. This is achieved by adding certified recycled content via mass balance allocation to Trēva's
48% biobased content. CRT is a chemical recycling technology that diverts mixed plastic waste from landfills and converts it to syngas, which is
then used to produce a variety of Eastman products, including Trēva. With PRT, Eastman is now able to incorporate high levels of certified recycled
content into its entire portfolio of cosmetic materials, including Eastman Cristal™ EV600 copolyester. PRT is a chemical recycling process that
uses different technologies, such as glycolysis, to recycle mixed polyester waste, including colored PET and Eastman copolyesters, into virgin-like
polymers with zero drop-off in performance, safety or aesthetics. A later phase of PRT using methanolysis to break down a wide variety of waste
polyesters will be fully operational by 2022.

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Eastman (USA) demonstrates sustainable solutions at industry packaging conference
47
Global specialty plastics provider Eastman features its sustainable packaging polymers at The Packaging Conference in Austin, Texas, Feb. 3-5.
Eastman will demonstrate how it has reinvented its material production processes and replaced fossil fuels with waste plastic as feedstock. The
company's Advanced Circular Recycling technologies—carbon renewal technology and polyester renewal technology use hard-to-recycle waste
plastic to create new materials with zero drop-off in performance, safety or aesthetics.Eastman's Advanced Circular Recycling technologies offer
beginning-of-life and end-of-life solutions for plastic packaging that might otherwise end up in landfills. These technologies create new products
with high percentages of recycled content achieved through certified mass balance allocation with no diminishment in performance. The new
technologies also enable closed-loop solutions so that the resulting products can be infinitely recycled. Eastman is leveraging these technologies
for applications in cosmetics and food and beverage packaging as well as in its full line of resins for shrink films, including APR-approved
Eastman Embrace Encore™ and Eastman Embrace Float™ copolyesters. Eastman unveiled sustainable packaging innovations for cosmetics at
LUXE PACK MONACO and won the 2019 LUXE PACK in green Award in the Responsible Initiatives category for activating the circular
economy via three recycling processes, including mechanical recycle stream technology in addition to Eastman's Advance Circular Recycling
technologies. During the show, the company introduced next-generation Eastman Trēva™ engineering bioplastic, made with both biobased and
certified recycled content, and Eastman Cristal Revēl™ copolyesters, a new line of proprietary compounded polyesters made with post-consumer
recycled content.

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Eastman (USA) launches new portfolio of flame-resistant polymers at MD&M West
48
Global specialty plastics provider Eastman demonstrates its commitment to mitigating patient and clinician risk with
superior materials for medical devices at the 35th annual Medical Design & Manufacturing West expo in Anaheim,
California. Eastman debuts a new portfolio of polymers for the housing and hardware of electronic medical devices.
The MXF product line that started with Eastman Tritan™ MXF121 is built on Tritan's proven durability and
disinfectant resistance, and Eastman will soon be launching products that feature a UL 94 V-2 flame resistant rating.
The result of Eastman's collaborative process is a collection of flame-resistant polymers for electronic medical device
housings and hardware. These materials offer unsurpassed chemical compatibility with a wide range of disinfectants
used to combat HAIs as well as improved durability and higher impact strength. Materials in the Eastman Tritan MXF
portfolio enable ease of processing, with lower ejection force for easier de-molding. Eastman Tritan MXF copolyesters
can save money across the value chain due to reduced repairs, returns and warranty claims from device breakage, a low
scrap rate and the lack of retooling necessary when changing from PC/ABS to Tritan MXF. Furthermore, using only
Tritan MXF in an assembly reduces expenses associated with the use of multiple polymers which can cause
discoloration and durability issues.

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Eaton (Ireland) introduces new Advantage Automated Series clutches for popular automated
transmissions
49
Power management company Eaton announced it has expanded its Advantage Automated Series clutches to support
popular automated transmissions available in the North American market, rounding out its aftermarket automated
clutch portfolio. The announcement will be made at the Heavy-Duty Aftermarket Week show, in Grapevine, Texas.
The Advantage Automated series clutches fit the unique needs of automated transmissions, which are featured on
more than 75 percent of new heavy-duty trucks sold in North America. Eaton is a power management company with
2018 sales of $21.6 billion. We provide energy-efficient solutions that help our customers effectively manage
electrical, hydraulic and mechanical power more efficiently, safely and sustainably. Eaton is dedicated to improving
the quality of life and the environment through the use of power management technologies and services. Eaton has
approximately 101,000 employees and sells products to customers in more than 175 countries.

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Eaton (Ireland) introduces new Bezares PTOs for Endurant and Detroit automated
transmissions
50
Power management company Eaton announced it will expand its mobile power take-off portfolio to include two
new Bezares PTO units. These new offerings complement the all-makes portfolio already available for a variety of
vehicles and transmissions in operation in North America. Eaton will distribute the Bezares 95X series four-bolt,
rear-mounted PTO for the Eaton Cummins Automated Transmission Technologies Endurant™ 12-speed automated
transmission and the new Bezares PTO for the Detroit™ DT12™ automated transmission. The announcements will
be made at the Heavy-Duty Aftermarket Week show on Jan. 28, in Grapevine, Texas. Eaton announced in early 2019
its Vehicle Group’s Aftermarket division had reached a distribution agreement with Bezares SA to become the North
American master distributor for its mobile power hydraulic portfolio. The heavy-duty, two-gear 120X series PTO is
built from an aluminum housing, coupling heavy-duty strength with light weight, and fits models
DT12-DA/14.93-1.0 and DT12-OA/14.96-1.0. Featuring internal ratios from 1:1 to 1:1.8, the 120X PTO series
integrates with the auxiliary systems of the DT12 transmission and offers four different output options. The PTO
housing is designed to improve clearance and ease of installation, while the DIN output option permits multiple
configuration options. A lube pump flange is included with the PTO, simplifying ordering and installation.

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Emerson (USA) Introduces New Level Switches to Optimize Operations and Increase
Safety in Solids Applications
51
Emerson has introduced a range of new Rosemount™ solids level switches designed to optimize operations,
increase safety and reduce waste by providing reliable point level monitoring and supporting overfill prevention.
The introduction of switches based on four proven and trusted technologies enables Emerson to offer a complete
product portfolio for continuous and point level solids measurement. This ensures that the appropriate solution can
be deployed to meet every application requirement. The vibrating fork, paddle, capacitance and vibrating rod
switches within the new Rosemount range ensure reliable monitoring of solid materials such as powders, grains and
pellets in all silo types across industries including food and beverage, agriculture, chemical, power, cement, mining
and plastics. The compact, easy-to-operate switches require low levels of maintenance and are suitable for operation
in extremely challenging environments, including those with high temperatures, high pressures, dust and risk of
explosion. The switches can be used to provide standalone point level monitoring to help optimize filling and
emptying cycles. They can also be deployed within an overfill prevention system, helping to prevent wasted
materials, environmental impact, high clean-up costs and damage to the silo.

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Emerson (USA) Launches Modular Industrial Displays to Minimize Lifecycle Cost in
Industrial Applications
52
Emerson has released the new portfolio of RXi industrial display and panel PC products for monitoring, visualizing
and enhancing everyday production processes in life sciences, metals and mining, power and water, and manufacturing
and machinery. A modular design is foundational to the industrial display platform, enabling users to select the right
configuration based on application needs and minimizing lifecycle cost through flexibility, easy serviceability, and
field upgradeability. In addition, the vivid and responsive displays improve an operator’s capabilities to make better
decisions. RXi industrial displays are designed to work with both Emerson’s programmable logic control,
programmable automation control solutions and third-party control systems. The RXi industrial display portfolio
features standardized physical designs to minimize the variety of enclosure cutouts required for OEM applications,
making each display easily replaceable and upgradeable in the field with no need to modify existing or install new
cabinets. Displays are available in sizes ranging from seven to 24 inches, providing a single, scalable platform for a
multitude of operations and applications. Key features for all models include vivid projective capacitive, multi-touch
screens that can operate in temperatures from -4 to 149 degrees Fahrenheit (20 to 65 degrees Celsius) and optional
sun-light readable screens on select sizes.

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Emerson’s (USA) Exploration and Production Software Suite Drives Customer
Success Using Accelerated Automation and Cloud Hosting
53
Emerson announced the release of the Paradigm™19 integrated oil and gas exploration and production software suite, featuring
automated workflows that enhance productivity while reducing user effort. Based on proven science that delivers maximum
information about the subsurface, Paradigm 19 optimizes model accuracy, reduces outcome uncertainty and saves costs across
the customer’s organization. This release expands the Paradigm software cloud-hosted solution to include Emerson’s entire
exploration and production portfolio. Also available as an on-premise solution, Paradigm 19 continues to deliver advanced
software applications while ensuring maximum scalability and performance at all levels of use. Among the main features of
Paradigm 19 are new workflows for interpreters, offering its wide range of technologies in the same integrated platform where
day-to-day interpretation is performed. This eliminates the challenges associated with moving data between platforms and
minimizes the need to learn new applications, resulting in improved productivity and faster product adoption. The new release
incorporates additional automation to help customers improve performance throughout the E&P process, including the use of
machine learning for accelerated interpretation and reservoir characterization. New capabilities include up to 20% higher user
productivity for multi-survey and large-scale interpretation and imaging projects, further automation of the tomographic velocity
model update process and a fully automatic reservoir modeling uncertainty workflow.

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