GLEN MILLS, Pa., Jan. 18, 2022 /PRNewswire/ -- Axalta Coating Systems Ltd. (NYSE:AXTA) ("Axalta"), a leading global coatings company, provided preliminary selected fourth quarter and full-year 2021 unaudited financial updates. Results in the period reflect impacts from greater than previously forecasted raw material inflation and supply chain constraints relative to guidance initially provided on October 25, 2021. Axalta expects Net Sales growth of 5.8% for Q4 (~7% excluding foreign exchange) and 18.2% for 2021, including moderately lower than forecasted foreign exchange tailwinds (guidance was ~+19% Net Sales growth for FY 2021, including ~+2% in FX). Limitations in availability of certain raw materials also resulted in substantial unfulfilled orders during the fourth quarter. Adjusted EBIT for the fourth quarter is anticipated to be reported between $120-125 million, with full year Adjusted EBIT expected to be approximately $30 million below the midpoint of the October guidance range of $645-665 million. Free cash flow for the full year 2021 is anticipated to be above the prior guidance range of $410-430 million, with cash and cash equivalents expected at approximately $840 million as of December 31, 2021.
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OKLAHOMA CITY, Jan. 14, 2022 /PRNewswire/ -- MidCentral Energy Partners, LLC, an Asset Performance Management company serving the energy sector, is moving to larger and improved facilities in the Appalachian Basin (servicing the Marcellus Utica Shales). The new premises is a modern facility that will triple the footprint for their site services and manufacturing/remanufacturing business lines.
(The Center Square) – Newly released federal inflation data show another record increase, the latest in a string of inflation numbers that have Americans concerned.
HARRISBURG, Pa., Jan. 13, 2022 /PRNewswire-PRWeb/ -- Summit Technology Group (STG) announced an expansion of their Bank & Financial Institution Innovation Center near Harrisburg, Pennsylvania. The facility was originally opened in late 2019 to support the growing demand of technologists around the country that wish to learn cloud engineering skills, how to work with APIs, and perform core & fintech integrations. With this expansion, STG adds over 15,000 square feet of office and conference facilities – with options to add additional space on their campus which now sits on over 5 acres. The expansion will allow additional collaboration with peers, industry experts and fintech's while providing a new collaboration lab at its core. A large space is also being renovated to enable greater learning and knowledge share with interactive workshops, executive round tables and seminars led by leading fintech innovators from around the country.
TELFORD, Pa., Jan. 12, 2022 /PRNewswire-PRWeb/ -- Vulcan Spring & Mfg. Co. is pleased to announce the promotion of Bill Krauss to President. A 37-year veteran of the spring industry, the previous 25 years spent with Vulcan, Krauss previously held the position of COO.
BRISTOL, Pa., Jan. 12, 2022 /PRNewswire-PRWeb/ -- SDI, the leader in MRO (maintenance, repair, and operations) digital supply chain solutions for manufacturing and facilities maintenance announced this week the appointment of Neil Clover to Chief Technology Officer. The appointment, driven by the company's continued growth in the manufacturing space as well as the rapid expansion into the multi-site facilities management/retail markets, demonstrates the increasing adoption of Industry 4.0 technology to enable more effective, resilient, and reliable digital supply chains.
HATBORO, Pa., Jan. 12, 2022 /PRNewswire/ -- To support rapid company growth and best meet the demands of the business, Azzur Group today announces new executive leadership appointments. Originally founded in Philadelphia in 2010, Azzur is a market-leading provider of GxP services for the pharmaceutical, biotechnology, medical device, and healthcare industries with offices and on-demand cleanrooms locations throughout the United States. Today, the organization provides comprehensive GxP solutions through its on-demand cleanrooms, consulting and advisory services, microbiology labs, and aseptic and GxP training.
LANSDALE, Pa., Jan. 12, 2022 /PRNewswire/ -- The revolution of the North American automotive industry is in progress with the growing demand for battery electric vehicles (BEVs), and SKF is well-positioned to support and advance the industry's growth goals. BEV sales topped three million globally in 2020, a 40% year-over-year increase despite COVID challenges, with sales expected to reach 30 million vehicles by 2035. The BEV sector remains the fastest growing of the electrified technologies (by some distance), achieving 100% year over year growth from September 2020 to September 2021 according to LMC Automotive, a global auto industry consultant.