Industry News

Hudson Valley Community College Celebrates Grand Opening of New Center for Advanced Manufacturing Skills

TROY– Hudson Valley Community College hosted a grand opening ceremony for the $14.5 million Gene F. Haas Center for Advanced Manufacturing Skills (CAMS) on Tuesday, August 27, 2019. This 37,000-square-foot facility will allow the college to double enrollment from 144 to 288 students in the Advanced Manufacturing Technology A.O.S. degree program and meet an urgent workforce demand for skilled manufacturing employees in the region. Hudson Valley President Roger Ramsammy was joined at the event by the college Board of Trustees; the board of the college Foundation; elected officials, donors, manufacturing and economic development leaders, and students, faculty and staff.

Hudson Valley’s Advanced Manufacturing Technology program prepares graduates for careers as CNC machinists, toolmakers and industrial technicians, along with marketing, sales, procurement and supervisory jobs. It is the only community college training program of its kind within 125 miles and has a 100 percent job placement rate for graduates, with nearly all students securing work prior to graduation.

According to the U.S. Bureau of Labor Statistics, there are approximately 900,000 more manufacturing jobs today than in 2010, but the country’s manufacturing companies are struggling to hire qualified employees necessary for business and economic growth. By 2020, more than 200,000 new positions are expected for machinists and industrial maintenance technicians nationwide. With the opening of the new Center for Advanced Manufacturing Skills, Hudson Valley is even better positioned to help fill the shortage of well-trained, skilled craftspeople and help manufacturing firms to expand, create new jobs and contribute to the ongoing economic growth of the Capital Region.

CAMS is a one-stop manufacturing technology center that will train students on the latest machine tools, equipment, tooling and software needed for employment with manufacturers in the Northeast. The building’s design provides corporate partners with access to offices and conference space adjacent to faculty offices, student classrooms and labs. Facilities will be available for corporate demonstration purposes, shared training activities, meetings and events that connect the college to its workforce partners more than ever before.

The Hudson Valley Community College Foundation worked for more than two years to secure gifts toward the construction of CAMS, including a leadership challenge gift of $1 million from the Gene Haas Foundation, a longtime partner of Hudson Valley and provider of the equipment used in training its students; a $2.9 million grant through Empire State Development as part of the New York State Regional Economic Development Council awards announced by Governor Andrew M. Cuomo in December 2017; and $1.5 million in federal funding through the U.S. Federal Economic Development Administration, announced by U.S. Senate Minority Leader Charles Schumer and U.S. Senator Kirsten Gillibrand in December 2017, as well as numerous contributions from other local partners, alumni and friends.

The college partnered with several local construction companies to build CAMS, which was designed by the Troy-based Mosaic Associates Architects. Contractors included: Bette & Cring Construction Group of Latham for general construction; Tri-Valley Plumbing & Heating, Inc. of Schenectady for plumbing; John W. Danforth Co. of Ballston Spa for mechanical; T&J Electrical Associates, LLC of Clifton Park for electrical; Comalli Group, Inc. of Albany for communications cabling; and Atlantic Testing Laboratories, Limited of Clifton Park for special inspections. The college broke ground on the building in April 2018.

“All of us at Hudson Valley Community College are so proud celebrate the grand opening of the Gene F. Haas Center for Advanced Manufacturing Skills today,” said Dr. Roger Ramsammy, president of Hudson Valley Community College. “I would like to extend my sincere gratitude to the donors, public officials, and industry partners who have made this project possible. Their support and generosity in making CAMS a reality will allow our students to secure excellent jobs and the employers in our local manufacturing industry to fill their need for skilled workers. This is a perfect example of how the college and the community continue to work together to enrich our region’s economy.”

“I am pleased to congratulate President Roger Ramsammy and the entire HVCC community on the opening of the Gene F. Haas Center for Advanced Manufacturing Skills,” said United States Senator Charles E. Schumer. “I will always remember being at the 2016 Commencement when President Matonak publicly assigned me the homework of finding some federal funding for this project.   We rolled up our sleeves and were able to secure $1.5 million from the Economic Development Administration the following year.   I am proud to be a small part of the creation of the CAMS and know that it will provide skills training for good paying jobs for thousands of students in the decades to come.”

“The opening of Hudson Valley Community College’s new Advanced Manufacturing Technology training facility is a major development for the Capital Region’s economy,” said United States Senator Kirsten Gillibrand. “This world-class facility will help train the future of New York’s advanced manufacturing workforce. One of the best ways to ensure strong economic growth in our state is by preparing students and our workers for high-skilled manufacturing jobs. I will always fight to ensure that our students and workers have the resources they need to be successful in a 21st century economy.”

“By further building our talent pipeline, the new Center for Advanced Manufacturing Skills is growing the skilled workforce that will encourage manufacturers to expand in the Capital Region and around New York State,” said Empire State Development President, CEO and Commissioner Howard Zemsky.

“I am honored to have my name on this extraordinary facility that is a new standard for manufacturing education, and I am overwhelmed by the teamwork that has brought it to fruition,” said Haas Manufacturing President and Founder Gene Haas.

“The Gene Haas Center for Advanced Manufacturing Skills is a state-of-the-art facility that will provide students the opportunity to be trained utilizing current technology and machinery,” said Vice President of Allendale Machinery Systems and Co-Chair of the CAMS Capital Campaign Marty McGill. “The Center represents the new image of what manufacturing is today: not just a job, but a well-respected and rewarding career.”

“Our investment in the HVCC CAMS building and corporate sponsorship of students has been the single most transformative investment we have made,” said Simmons Machine Tools President and COO and Co-Chair of the CAMS Capital Campaign David William Davis. “It has improved our profitability, increased our market share, and allowed us to offer technologies at value levels attractive to our customers overseas and here in North America. We believe this region has much to offer in terms of human capital, but only if our people are equipped with useful skills that enable digital manufacturing to be harnessed by our manufacturing companies.”

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About Hudson Valley Community College: Founded in 1953, Hudson Valley offers more than 80 degree and certificate programs in three schools: Business and Liberal Arts; Health Sciences; and Science, Technology, Engineering and Math (STEM). One of 30 community colleges in the State University of New York system, it enrolls more than 10,500 students, and is known as a leader in distance learning and workforce training. Hudson Valley has more than 80,000 successful alumni.

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Mobile Analysis: 3D and 2D CAD Viewer “to go”

The CoreTechnologie 3D_Analyzer Viewer is now available through a mobile license-lending feature.

The powerful 3D_Analyzer Viewer of the German-French software manufacturer CoreTechnologie (CT) comprises in the current version 4.3 a new license-borrowing function that allows to use the software for a limited time for example on a laptop. Already the inexpensive basic version of 3D_Analyzer includes 24 different interface formats, such as CATIA V5/V6, NX, Inventor SolidWorks, Creo, STEP, JT as well as FBX and OBJ. In addition, the new version also reads major 2D drawing formats.

Outstanding Analysis Capabilities

The 3D_Analyzer professional version of the Viewer provides outstanding analysis capabilities that are usually available only in much more expensive CAD systems. For assemblies, the model comparison as well as a collision and clearance check are available. Models can also be analyzed for wall thicknesses, draft angles, undercuts and projected areas. Thus, the Viewer is the ideal tool for users who sometimes use a CAD system for viewing and detailed analysis, but in general do not design or edit the parts. The flexible viewer helps to relax the license utilization of expensive CAD licenses and thus significantly reduces costs. A special highlight of the professional Viewer is the possibility to save all imported CAD models as JT or 3D PDF files.

Advanced 3D Master Technology

The future-oriented version 4.3 of the 3D_Analyzer fully supports the advanced 3D master technology. Thus CAD models from V5, NX and Creo as well as from STEP AP 242 and JT can be read including dimensions, tolerances as well as the predefined views, so-called captures. The use of the 3D Master eliminates the need for 2D drawings, since in the 3D model all information relevant for production is available and combined by means of the different captures. Among other things, intelligent 3D master models enable paperless production and avoid differences between 3D and 2D data. The clever technology is currently gaining importance for the integrated production process in the context of Industry 4.0. With the 3D_Analyzer Viewer, 3D master models can also be used on lightweight, cost-effective tablets.

Further information is available at www.coretechnologie.de/produkte/3d-analyzer.

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Background Information

Since its foundation in 1998, the software manufacturer CoreTechnologie with locations in Germany, France, USA, Japan and Great Britain has been led by the managing directors Dominique Arnault and Armin Brüning. With innovative products, the visionary company has consistently optimised its product portfolio and secured the technological leadership in the area of conversion software. Each year, CoreTechnologie invests more than 30 per cent of sales in the research and implementation of new technologies and has the most complete product range in this field.

In the focus of technology development is the product line of “3D Evolution” which guarantees efficient and lossless exchange of complex data structures between independent and heterogeneous CAX software solutions. With extremely powerful native interfaces for all leading CAD systems and for conversion of all common 3D formats, the software module ensures optimal interoperability of most various IT solutions.

Apart from providing visualisation and manufacturing data across most various systems, CoreTechnologie offers outstanding technologies for automatic data correction, feature-based conversion, geometry optimisation, quality control and long-time archiving as well as for visualisation of complex 3D models. The software components for software manufacturers of the most different CAX applications are the company’s second leg.

The customer portfolio of CoreTechnologie comprises more than 400 companies from the automotive, aerospace, engineering and consumer goods industry who are in many cases the quality leaders in their relevant segment.

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Using ESPRIT to Develop New Manufacturing Methods: a conversation with M2GN’s Laurent Poullain and Brian Orcier

M2GN, located in Courlaoux, near Lons-le-Saunier in Eastern France, manufactures parts for key French industries. Founded in 1986, the company was purchased in 2005 by Laurent Poullain following the retirement of its first owner. In the beginning, M2GN focused on manufacturing unitary, or single, parts for special machines. Mr. Poullain wanted to evolve the company and invested in a newer machine shop and a larger, more functional building. Today M2GN specializes in precision machining and has a staff of 16 employees. Its activity is divided into four key industrial sectors: 30% in aeronautics, 35% in packaging, 25% in the food industry and 10% in mechanical engineering. Single parts represent 50% of its business, with the rest consisting of small and medium parts primarily for the aeronautics industry.

DP Technology recently spoke with Mr. Poullain, M2GN’s manager, and Brian Orcier, the company’s programming manager, about how ESPRIT CAM software has improved their manufacturing operations.

How did you acquire the ESPRIT software?

Laurent Poullain: The need for a new CAM software presented itself in 2015 when I wanted to further develop our team of turners, who worked from the beginning in conversational programming (on Mazak Mazatrol or Mori Seiki Mapps controls). At the same time, we bought a DMG MORI NTX bi-spindle 5-axis lathe, which was equipped with all modules of ESPRIT software.

How fast was the workshop able to integrate the new software?

L.P: Some controllers were able to adopt the new software quickly. For others, it took a little longer. In their defense, the first parts were complex; they required simultaneous 4 and 5-axis machining. Usiprog, our ESPRIT integrator, provided excellent support to us throughout this project. After six months, the entire team was working on its own and comfortably using the ESPRIT software.

How have you recently expanded the use of ESPRIT in your workshop?

L.P: After buying the NTX machine, we decided to buy two more licenses, one for 5-axis turning and one for EDM. We also updated the license on the NTX lathe.

You say that M2GN has a large machine park. How does ESPRIT help you to control all these machines?

LP: M2GN has a park with different brands of relatively new machines, which are divided into three parts: a turning pole consisting of five lathes and two multi-tasking centers, a milling center composed of four machining centers and two milling machines, and a final pole dedicated to EDM, which is mainly comprised of Fanuc machines. ESPRIT allows you to control the whole workshop with the same interface and lets you easily switch from one machine to another.

M2GN is specialized in manufacturing the unitary part, with high added value; what exactly does that mean?

L.P: [It means] we have established 100% control of all the parts coming out of the workshop. This allows us to check the quality of our parts daily to ensure that they have been manufactured properly. To do this, we utilize specific Mitutoyo control tools.

What do you consider to be the top three advantages of ESPRIT?

Brian Orcier: What impressed us was its ease of use and its flexibility: with just a few clicks, one can apply several machining strategies to any type of operation. Also, the reliability of the post-processors that adapt to each machine. ESPRIT gives us a new method for programming and manufacturing parts.

Are you satisfied with the ESPRIT solution?

L.P: Yes. Today, what makes me confident I made the right choice is that even the most reluctant programmer at the beginning now uses ESPRIT every day. It enables them to make the most of their machine to produce increasingly complex parts without outside help. It gives them peace of mind; the risk of error is minimized, and they have autonomy in their work with the recovery of the 3D files, and the automatic recognition of forms, etc.

Do you plan to further expand the use of ESPRIT in the workshop?

Laurent Poullain: At this time, we are thinking about purchasing a 5-axis machining center that would also allow us to extend the use of ESPRIT in the workshop and standardize our CAM system to be even more versatile and efficient.

For more information about ESPRIT, contact:

(In North America):

DP Technology Corp., 1150 Avenida Acaso, Camarillo, California 93012, USA. Telephone: +1-(800) 627-8479, Fax: +1-805-388-3085. E-mail: esprit@dptechnology.com, Website: http://www.espritcam.com/

 

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From Concept to Manufacturing, Link Is the Solution 

Denver, CO (August 7, 2019) — Denver-based company, Link has been helping companies with product development since 2007.  Founder Marc Hanchak formed Link after seeing a gap in the services that product development companies were offering in Colorado.

“At that time, there were plenty of engineering consulting firms, and several industrial design companies, but no one that offered a complete solution covering all aspects of product design from concept to manufacturing,” Said Founder Marc Hanchak.

That’s what Link does… they help their clients at every stage along the process: from concept ideation, to intellectual property and marketing, business plan and cost forecasting, industrial design, engineering, prototyping, and manufacturing.

“I feel it’s our responsibility as a product development consultant to be educators in the community. We give hundreds of hours of free advice to startups, and several of us teach at universities around town. We also participate in small business events, pitch competitions, and student design competitions,” added Hanchak.

Link works across many different industries from medical devices and children’s toys to the outdoor and consumer product industries. Link provides creative design solutions to problems others don’t see as easily because they are narrowly focused in one industry.

Recently, Link was brought in by Denver-based Guerilla Gravity for their newest mountain bike design.

“Working with Link brought a new level of creativity to Guerrilla Gravity and the bikes we manufacture. Working with a company right around the corner allowed us to be more innovative and iterate quickly. As a critical team member, they created a stunning concept that accommodates our unique manufacturing method, which is the first of its kind in our industry. Truly made in Colorado, from sketch to final product,” responded Will Montague, President and Co-Founder of Guerilla Gravity.

Link prides themselves on having a really cool place to work, creative environment that is constantly changing, not to mention employees have off every Friday.

Their studio in Denver has the full prototyping capability from 3D printers to CNC machinery, laser cutters, welding equipment and casting capabilities, all of which speed up the product development process.

The push to make things locally is ever increasing and companies are looking to work with local manufacturers and you can truly say with LINK that your product has been designed and made in Colorado.

“We love all things local and being a part of the resurgence of making it here in Colorado and avoiding the overseas process,” added Hanchak.

For More on Link Product Development visit them online at www.linkpd.com

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Mazak’s Discover 2019 Technology and Education Event Commemorates 100th Anniversary

Discover 2019 will take place at Mazak Corp.’s North American Manufacturing Headquarters in Florence, Kentucky, November 5-7 and 12-13. Attendees will experience new technology designed to increase efficiency and productivity. This includes hybrid multitasking machines with additive manufacturing, friction stir welding and hot wire deposition; digital manufacturing solutions including mixed-reality remote service support and a new machine spindle health monitoring system; and artificial intelligence in Mazak’s Smooth Technology manufacturing platform.

The 30 machining systems at Discover 2019 will be either new to the industry or making their North American debuts. The event will feature several learning seminars with Mazak’s partners, access to Mazak application experts, a student day for recruitment and regularly scheduled tours of the Mazak iSmart Factory.

“Today’s manufacturers face challenging production demands that shift on a daily basis and want immediate solutions to overcome them,” says Dan Janka, president. “In most instances, they don’t have the luxury of being able to wait for the next major manufacturing trade show to explore potential solutions. This is why Mazak customers have come to rely on the Discover events for keeping up with the latest manufacturing advancements and strategies.”

This year’s show also coincides with Mazak’s 100-year anniversary.

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CNC Indexing Feeding Technologies Introduces New TRACER 12′ Minibar Bar Feeder

[MASON, OH – July 2019] The new TRACER 1239 Minibar hydrodynamic magazine bar feeder from CNC Indexing Feeding Technologies is engineered to feed bar stock diameters from 0.8mm to 12mm and up to 12′ in length.

The economical and efficient TRACER 12' Minibar feeder provides a solution for manufacturers with fixed headstock and Swiss-type CNC lathes who need to feed large quantities of small-diameter bar stock efficiently. An operator can quickly adjust the bar feeder for different stock sizes without using tools. Fast changes of guide channel sets increase throughput and minimize
changeover and setup times. Torque force and speed are easily adjustable, permitting smaller stock to be fed consistently.

Workhandling products from CNC Indexing & Feeding Technologies include a selection of productivity-boosting TRACER magazine bar feeders and short bar loaders, AUTOLOAD automatic gantry loading systems, and TJR rotary tables.

Jessica Presutto, National Sales Manager of CNC Indexing & Feeding Technologies, said, “The TRACER 12' Minibar feeder is designed to give Swiss lathe users the ability to feed bar stock smaller than 13mm in diameter at an economical price. We’re excited to be able add a new product to our a wide variety of hydrodynamic magazine bar feeders for the production turning
industry.”

For more information visit CNC Indexing’s website at cncindexing.com,

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Stäubli Unveils New TS2 4-Axis Robots to the North American Market

Stäublia leading manufacturer of robotics systemsrecently unveiled its new TS2 four-axis robots to the North American market at Automate 2019 in Chicago.

The completely redesigned four-axis machines feature a more compact design as well as hollow shaft,  proprietary JCS drive technology, which allows all the cables to be routed internally to create a revolutionary hygienic design for use in sensitive environments. The TS2 facilitates ultra-short cycle times and high repeatability, and offers a smart connected tool that allows the option of either automatic or manual connection and disconnections of various tools, managed by Stäubli’s CS9 controller.

The new line consists of four models, the TS2-40, TS2-60, TS2-80 and TS2-100, to provide a solution for a wide range of manufacturing scenarios. With the four-axis TS2-100, Stäubli has extended the working radius of the TS series (400 to 800 millimeters) up to 1,000 millimeters.

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Universal Robots Launches Authorized Training Centers

North American distributors of Universal Robots are now opening Authorized Training Centers, offering classes spanning basic to advanced programming of UR cobots. The first four Training Centers have launched, with another nine to follow by end of 2019.

Ann Arbor, MI – JULY 11, 2019 –One of the many things customers love about Universal Robots(UR) is its commitment to making collaborative robots (cobots) in the workplace accessible to all. The collaborative robots pioneer is now building on the popularonline modules offered through the UR Academyby enabling its sales channel to open Authorized Training Centers (ATCs). Through hands-on classes hosted by UR trained teachers, the ATCs will broaden users’ understanding of the UR cobots’ endless range of use cases, while providing opportunities for hands-on practice in real-life applications.

Worldwide, UR is planning 50 fully authorized ATCs, 13 of which will be in North America. The first four ATCs in the U.S. were just authorized and are now offered by UR sales partners Advanced Control SolutionsHTE TechnologiesRalph W. Earl Company, and Applied Controls.

Vice President of Product Marketing at Advanced Control Solutions(ACS), Cale Harbour, stressed how the new Training Center enables ACS to move from simply being a vendor to becoming a trusted partner and product expert. “From a business perspective, being able to offer this type of training also improves our place in the market, ensuring that current and potential customers start to rely on us as automation experts,” he said. “As our customers build their knowledge, they can deploy the technology faster and see the benefits to their production – and their bottom line – quicker. It’s a win-win for everybody involved.”

Universal Robots Certified Trainers will conduct training modules that cover a range of core and advanced cobot programming skills, including cobot scripting, industrial communication, and interface usage. Small class sizes with student-centered objectives and hands-on practice with UR robots ensure that participants come away with valuable skills they can apply immediately in their workplace.

At HTE Technologies, Marv Dixon, vice president of business development and sales, explained how opening an ATC has allowed the company to fulfill its overall mission of becoming a full-service training center. “Using this approach, we’ve expanded our role as supplier to assist with the application process as well. The Training Center has also provided us with the perfect scenario in which we can introduce other products that our customers might not have otherwise considered, such as grippers and conveyors,” he said. “With the Authorized Training Center distinction, we’ve become a resource that our customers can count on for up-to-date, accessible training and support.”

 

Regional sales director of Universal Robots’ Americas division, Stuart Shepherd, sees the ATC launch as an answer to sales partners’ request for more tangible ways in which to offer support and training in a setting that allows customers to come and experience the cobots. “Now, current and potential customers can get in-person training, customizing their specific applications and needs,” noted Shepherd. “Not only are our partners excited about this opportunity, they’re virtually lining up to be the next rollout.”

 

The modules of the Authorized Training Center program include:

  • Core: For any user of a UR cobot who has completed the online modules. Covers safety set-up, basic applications and flexible redeployment.
  • Advanced: For cobot users, technical sales people, and integrators with a practical need to optimize applications or find new ways of deploying UR cobots. Covers scripting, advanced uses of force control and TCP, conveyor tracking and performance review.
  • Industrial Communication: For users and developers who need to integrate cobots with third-party devices. Covers modbus TCP, FTP server, dashboard server, socket communication, Ethernet/IP and Profinet.
  • Interfaces: For users and developers who need in-depth knowledge on how to interface with UR cobots using script interfaces. Covers UR scripting, socket communication, client interfaces (port 30001-30003), real time data exchange and XML/RPC.
  • Service & Troubleshooting: For users, technicians, and engineers wanting/needing a better understanding of the mechanical hardware used by UR cobots, how to diagnose issues and resolve them. Covers the configuration of the cobot arm, controller, and safety system as well as preventative maintenance, system troubleshooting, and replacement of parts.

“Customers want to understand and take full advantage of the robots’ capabilities themselves, and that’s exactly what this training empowers them to do,” said Bill Gerbig, president, Ralph W. Earl Company. “Now, they can get up and running faster, make adjustments if necessary, and redeployment is a breeze.  Universal Robots did a great job constructing the entire program.  We’ve been impressed, and customer reaction has been extremely positive.”

Authorized Training Center locations:
Advanced Control Solutions: Marietta, Georgia
Applied Controls: Malvern, Pennsylvania
HTE Automation Technologies: St. Louis, Missouri, Lenexa, Kansas
Ralph W. Earl Company: Syracuse, New York

In addition to the ATCs hosted by UR partners, four training centers are also opening at Universal Robots’ offices in Ann Arbor, MI, Irving, TX, Garden City, NY, and Irvine, CA.

For class schedules and more information, visit:
universal-robots.com/academy
– click “Start Training Now”, then “In-Class Training”

Download photos from the Authorized Training Centers here:
urrobots.com/ATC

About Universal Robots
Universal Robots was founded in 2005 to make robot technology accessible to all by developing small, user-friendly, reasonably priced, flexible industrial robots that are safe to work with. Since the first collaborative robot (cobot) was launched in 2008, the company has experienced considerable growth with the user-friendly cobot now sold worldwide. The company, which is a part of Teradyne Inc., is headquartered in Odense, Denmark, and has subsidiaries and regional offices in the United States, Germany, France, Spain, Italy, Czech Republic, Poland, Turkey, China, India, Singapore, Japan, South Korea, Taiwan and Mexico. In 2018, Universal Robots had a revenue of USD 234 million. For more information, please visit www.universal-robots.comor read our blog at blog.universal-robots.com.

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Hillenbrand, Inc. to Acquire Milacron Holdings Corp.

Enhances Growth Opportunities with Leading Brands and New Technologies

Increases Scale and Diversification

Expected to Deliver Double-Digit Earnings Accretion in First Full Year and Annualized Cost Synergies of Approximately $50 Million Within Three Years Following Close

Combined Company Expected to Generate Annual Revenues of Approximately $3 Billion and Free Cash Flow of Greater Than $325 Million by 2021

BATESVILLE, Ind. & CINCINNATI–(BUSINESS WIRE)– Hillenbrand, Inc. (NYSE: HI) and Milacron Holdings Corp. (NYSE: MCRN) today announced that they have entered into a definitive agreement under which Hillenbrand will acquire Milacron in a cash and stock transaction valued at approximately $2 billion, including net debt of approximately $686 million as of March 31, 2019.

Under the terms of the agreement, which has been unanimously approved by the Boards of Directors of both companies, Milacron stockholders will receive $11.80 in cash and a fixed exchange ratio of 0.1612 shares of Hillenbrand common stock for each share of Milacron common stock they own. Based on Hillenbrand’s closing stock price on July 11, 2019, the last trading day prior to the announcement, the implied cash and stock consideration to be received by Milacron stockholders is $18.07 per share, representing a premium of approximately 34% to Milacron’s closing stock price on July 11, 2019, and a premium of approximately 38% to Milacron’s 30-day volume-weighted average price as of the close on July 11, 2019. Upon closing, Hillenbrand shareholders will own approximately 84% of the combined company, and Milacron stockholders will own approximately 16%.

Milacron manufactures, distributes, and services engineered and customized systems in the approximately $30 billion plastics technology and processing industry, as well as fluid technologies and processing systems. Milacron operates in three segments: Melt Delivery & Control Systems, which designs and manufactures highly engineered, technically advanced hot runner and process control systems, mold bases, and components; Advanced Plastics Processing Technologies, which designs and manufactures plastics processing equipment and systems, including injection molding, extrusion, and auxiliary systems; and Fluid Technologies, which manufactures products that are used in a variety of metalworking processes.

This transaction represents a pivotal step in Hillenbrand’s vision to become a world-class global diversified industrial company by adding new strategic businesses in hot runner systems and injection molding to Hillenbrand’s portfolio through Milacron’s leading brands, including Mold-Masters and Milacron injection molding. Together, the combined company will have increased scale and meaningful product diversification, enhancing its ability to serve customers through complementary technologies across the plastics value chain, including plastic base resins production, compounding, processing both extruded and injection-molded products, and recycling.

Joe Raver, President and Chief Executive Officer of Hillenbrand, said, “This transaction meaningfully transforms our portfolio and product offering by adding Milacron’s leading technology solutions and sizable installed customer base to help us drive long-term growth. Milacron aligns with our profitable growth strategy and acquisition framework and we expect the additional capabilities from its high-performing segments to accelerate free cash flow generation and improve margins across the business. I have great respect for Milacron’s talented employees and look forward to welcoming them to Hillenbrand as we embark on this next step in our strategy and create enhanced value for our shareholders, customers, employees, and communities.”

Tom Goeke, Milacron Chief Executive Officer, said, “After careful review, our Board unanimously concluded that a combination with Hillenbrand represents a unique opportunity to provide Milacron stockholders with significant and immediate value and the ability to benefit from the upside potential of the combined company. Hillenbrand has a tremendous track record of growing and driving value across its portfolio of highly engineered products. Together, we will continue to provide customers with breakthrough products and customized systems. This combination is a result of the Milacron team’s tremendous progress in enhancing our position as a global leader in plastics technology and processing. I am confident we have found a strong partner in Hillenbrand and look forward to a seamless transition.”

Compelling Strategic and Financial Benefits

  • Enhances Growth Opportunities With Leading Brands and New Technologies: The combined company will be able to leverage its industry-leading technologies and broadened product offerings to reach additional customer segments. Milacron’s technologies will enable Hillenbrand to offer solutions across key conversion steps in plastics processing including injection molding, extrusion, and hot runner systems. Additionally, the combined company will have an expanded reach in attractive end markets, including construction, consumer packaging, automotive, electronics, medical, and recycling.
  • Adds Complementary Businesses; Increases Scale and Diversification: With Milacron, Hillenbrand will add new complementary businesses to its portfolio, including leading positions in plastics technology and processing. With broader global scale and a presence in more than 50 countries, the combined company will be well positioned to capitalize on emerging trends across the plastics value chain.
  • Creates and Drives Efficiencies With Significant Cost Synergies: Milacron will benefit from the Hillenbrand Operating Model (HOM), and Hillenbrand expects to leverage Milacron’s global shared services center to drive operational efficiency. The transaction is expected to generate annualized, run-rate cost synergies of approximately $50 million within three years following close, primarily through reducing public company costs, realizing operating efficiencies, and capturing direct and indirect spend opportunities. The transaction is also expected to generate revenue synergies, driven by opportunities to cross-sell extruder and material handling equipment, and to leverage the combined service footprint to further penetrate the product aftermarket. These efficiencies will be driven across the combined organization through utilizing the HOM, while maintaining a commitment to serving customers with excellence and innovation.
  • Delivers Strong Financial Benefits: The transaction is expected to deliver double-digit Adjusted EPS accretion in the first year following close and will immediately improve Adjusted EBITDA margin. Hillenbrand anticipates further margin improvement as the combined company leverages scale and realizes cost savings. Hillenbrand expects to generate free cash flow greater than $325 million by 2021, retain its investment-grade credit rating, and deploy cash flow aligned with its capital allocation strategy, including maintaining its quarterly dividend. Hillenbrand expects to refinance Milacron’s outstanding debt at close and reduce net leverage to below 2.75x within 12 months post-close.

Timing, Approvals, and Financing

The transaction, which is expected to close in the first calendar quarter of 2020, is subject to customary closing conditions and regulatory approvals, including the approval of stockholders of Milacron.

Hillenbrand intends to fund the cash portion of the transaction through debt financing and has secured a committed bridge financing facility led by J.P. Morgan.

Advisors

J.P. Morgan Securities LLC is serving as the exclusive financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to Hillenbrand. Barclays is serving as the exclusive financial advisor and Ropes and Gray LLP is serving as legal advisor to Milacron.

Conference Call and Webcast

The companies will host a conference call and webcast today at 8:30 a.m. ET to discuss the transaction.

The conference call can be accessed by dialing 833-241-7251 within the United States and 647-689-4215 for all other locations. The confirmation code is 2976776. Participants should dial in 10 minutes prior to the scheduled start time.

A live webcast of the conference call and associated presentation materials will be available in the investor relations section of each company’s website at https://ir.hillenbrand.com/investor-relations/default.aspx and https://investors.milacron.com/.

A replay of the conference call will be available approximately two hours after completion of the conference call for one year, and can be accessed by dialing 800-585-8367 from the United States or 416-621-4642 from outside the United States. The replay confirmation code is 2976776. The webcast will be archived in the investor relations section of each company’s website.

About Hillenbrand

Hillenbrand (www.Hillenbrand.com) is a global diversified industrial company with multiple leading brands that serve a wide variety of industries around the world. We pursue profitable growth and robust cash generation to drive increased value for our shareholders. Hillenbrand’s portfolio is composed of two business segments: the Process Equipment Group and Batesville. The Process Equipment Group businesses design, develop, manufacture and service highly engineered industrial equipment around the world. Batesville is a recognized leader in the death care industry in North America. Hillenbrand is publicly traded on the NYSE under “HI.”

About Milacron

Milacron is a global leader in the manufacture, distribution, and service of highly engineered and customized systems within the plastic technology and processing industry. Milacron is the only global company with a full-line product portfolio that includes hot runner systems, injection molding, mold components and extrusion equipment plus a wide market range of advanced fluid technologies. Visit Milacron at www.milacron.com.

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Marubeni Citizen-Cincom, Inc. Announces New LFV– Low Frequency Vibration Technology

LFV – Low Frequency Vibration

From: http://www.marucit.com/news/lfv-system.html

Citizen LFV cutting technology prolongs tool life & reduces problems caused by chips. Benefits include increased cutting tool life, reduced heat generation and reduced power consumption.LFV technology can handle a broad range of machining shapes and materials and is ideal for cutting difficult-to-cut materials providing increased throughput and improved part accuracy.

What is Low Frequency Vibration Cutting?

The servo axes are vibrated in the axial direction using a unique control technology through which cutting is performed while synchronizing this vibration with the rotation of the spindle.

Because “air-cutting” times are provided during cutting, this technique is also characterized by intermittent expulsion of fine chips. This has made it possible to resolve problems such as spiraling of chips, chip entanglement and built-up edges.

Vibration cutting can handle a variety of types of machining in addition to linear machining on faces, including tapers, arcs, and drilling across a wide range of machining geometries and materials.

Vibration cutting can be turned ON and OFF just by inserting G codes in machining that has proved difficult up until now, such as the machining of deep holes and micro-machining.

Citizen’s Low Vibration Cutting (LFV) Technology

  • Ideal for difficult to machine materials – Chip control/Tool Life extension
  • Malleable materials such as copper and plastic, previously impossible to control chips – easily controlled with LFV
  • Break up of chips into very small pieces
  • Reduction of down-time/increase in productivity and profit
  • Efficiency Through a combination of vibration and Standard-cutting
  • Very fine work pieces are possible
  • Excellent for deep hole drilling
  • Programmable chip control
  • Chips are broken up and do not become entangled with the material or tool
  • Cutting resistance is lowered
  • Reduce or remove the need for high pressure coolant
  • No built-up edge is formed
  • The machining temperature doesn’t rise so there is little susceptibility to distortion
  • Tool life is extended
  • Very fine cuts are possible

Read more and watch the videos onthe Marubeni Citizen-Cincom website.

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