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Nuts & Bolts 30 Shifting Gears
Flux Power announces Sales Order backlog of $13.7M for Lithium-ion Battery Packs
Flux Power Holdings, Inc. announced that on July 20, 2021, its sales order backlog reached $13.7M. These battery packs, to be delivered to customers in the current and subsequent quarters, will be used to power material handling equipment, airport ground support equipment (GSE), and other industrial equipment. The $13.7M in sales order backlog represents the Company’s highest open sales orders and reflects the Company’s growing customer base and recovering status of some of its COVID-19 impacted customers. www.fluxpower.com
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Nucor Corporation announced on July 21st that it has entered into an agreement to purchase Hannibal Industries, Inc. for $370 million, which represents 6.9x EBITDA for the trailing twelve months ended March 2021. The company is a national provider of racking solutions to warehouses and serves the e-commerce, industrial, food storage, and retail segments. Pending approvals, Nucor will purchase 100 percent of Hannibal Industries’ outstanding shares from its Employee Stock Ownership Plan (ESOP).
www.nucor.com www.hannibalindustries.com
H&E Equipment Services sells crane business for $130 million
H&E Equipment Services, Inc., (“H&E”), announced that it has entered into a definitive agreement to sell its crane business to a whollyowned subsidiary of The Manitowoc Company, Inc., a global manufacturer of cranes and lifting solutions, for $130 million in cash. The transaction is expected to close during the fourth quarter of 2021, subject to customary closing conditions, including regulatory approval under the HartScott-Rodino Act. www.he-equipment.com
www.manitowoc.com
Combilift’s 60,000th truck delivered
The Irish manufacturer Combilift recently marked a further milestone when its 60,000th unit came off the production lines at the company headquarters in Monaghan and was shipped to the other side of the world. The customer taking delivery of this special forklift is Metroll, an Australian manufacturer and supplier of steel building products including roofing, cladding, rainwater, structural, and fencing. Combilift CEO and Co-Founder Martin McVicar commented: “This is a great achievement for Combilift, particularly as almost every truck we manufacture is a one-off, designed for specific and individual requirements. There are very few other companies, if any, that can offer this level of customization whilst manufacturing in such volume. The first half of this year has been by far the best in our 23-year history for the number of orders we have received – not just for Combi-CB models but across our complete product range.”
www.combilift.com
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China Forklift Network reported that on March 16, 2021, Fujian South China Heavy Machinery Manufacture Co., Ltd. (SOCMA) successfully delivered a 25-ton range-extended electric heavy-duty forklift in Ningbo. And held a simple and solemn delivery ceremony. Mr. Gao, General Manager of Ningbo Gaoxing Lifting & Loading Co., Ltd., Mr. Chen, Head of Sales Department of SOCMA, other partners, customer representatives, and China Forklift network, and other industry media gathered together to witness this bright moment. According to reports, this is the first 25-ton range-extended electric heavy-duty forklift delivered up to now in Ningbo and even Zhejiang Province, which has attracted widespread attention in the industry.
www.socmachiner.com Hyster recognizes the highest performing dealers of 2020
The 2020 Dealer of Distinction award goes to 21 top-performing Hyster® dealers, recognizing their strong commitment to materials handling excellence and customer satisfaction. Dealer of Distinction recipients are evaluated on a variety of business practice and performance criteria, updated annually to account for changing customer and industry demands. 2020 Dealer of Distinction Recipients • Eastern Lift Truck - MD/DC/DE • Deep South Equipment - Louisiana • Gregory Poole - North Carolina • Gregory Poole - Virginia • LiftOne - North Carolina • LiftOne - South Carolina • LiftOne - West TN • MH Equipment - Illinois • MH Equipment - Iowa • MH Equipment - Kentucky • MH Equipment - Ohio South • MH Equipment - Indianapolis • Northland Industrial Truck Co. (NITCO) • Papé MH - Central Washington • Papé MH - Eugene, OR • Papé MH - Fremont, CA • Papé MH - Portland, OR • Papé MH - Seattle, WA • Papé MH - Spokane, WA • LMA - Argentina • Tattersall - Maquinarias SA
www.hyster.com
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TVH in the Americas (TVH) has promoted Jeannette Walker to Vice President of Sales. She began her career at TVH in 2001, and since then has held positions in Finance, Customer Support and launched the Marketing Department in 2007. In her role as Global Marketing Director, she was responsible for managing the Marketing Departments in both the Americas and Europe, combining them into one global team. Most recently, in her position as International Sales Director, Jeannette was responsible for the International, Mexico, and Brazil Sales teams in the Americas. As the Vice President of Sales, Jeannette will oversee the International, Domestic, Canada, and Mexico sales departments for TVH in the Americas. She will be instrumental in leading the sales teams by providing thoughtful leadership and an overall vision of how to develop and execute sales strategies to meet company goals now, and in the future.
www.tvh.com
H&E opens new branch in Fresno, CA
H&E Equipment Services Inc. (H&E) has opened their new rental branch in Fresno, CA, bringing the number of H&E California facilities to 11.The new location is at 4199 E. Jefferson Avenue, Fresno, CA 937259707, phone 559-570-6700. The 10,000-squarefoot facility sits on six acres with a fully fenced yard area, offices, parts warehouse, and a repair shop with five service bays. It is capable of servicing a variety of construction and general industrial equipment and joins the H&E facility in Lodi in serving central California and the San Joaquin Valley. www.he-equipment.com
Diversified Product Development hosts Grand Opening at new manufacturing facility
Diversified Product Development, marketer of the LineWise™, LiftWise™, RailWise™ and DesignWise™ brands, hosted a grand opening ceremony on June 22, 2021, at its new manufacturing facility in Waco, Texas. Approximately 100 people attended the event marking the company’s strategic move, which will help Diversified grow and better serve its customers. The new facility is 60,000 square feet, which is more than 10 percent larger than the company’s previous building. Diversified also invested in multiple equipment upgrades to increase its capabilities, such as doubling its jib crane capacity and adding a 10-ton bridge crane.
www.diversifiedproduct.com
Green Cubes Technology appoints Power Industry Veteran as Chief Operating Officer
Green Cubes Technology (Green Cubes), has appointed Ken Johnson as Chief Operating Officer (COO) for the company. Mr. Johnson reports to Keith Washington, president and CEO of Green Cubes, supporting all business units and operations. Mr. Johnson provides leadership to supply chain, operations and manufacturing roles to build processes for continued growth for Green Cubes within Telecom, Materials Handling, and Industrial Automation markets. Mr. Johnson will manage Green Cube’s production facilities in Malaysia, Slovakia, Kokomo (Indiana), and Dunlap (Tennessee). www.greencubestech.com
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TVH in the Americas (TVH), welcomed Chris Davis as its new Southeast Regional Business Development Manager. In this position, Chris will work to continue building deeper relationships between TVH and its customers in the Southeastern United States. Chris brings over 25 years of experience and a thorough understanding of the material handling industry to this position. He began his career as a forklift technician before transitioning into a customer service position. Most recently, Chris has spent over a decade in multiple sales positions on both the east and west coast where he was responsible for the substantial growth of his markets.
www.tvh.com Steel King announces 2020 Most Valuable Dealer Award
Steel King Industries® has announced that CiscoEagle Inc., has won their Most Valuable Dealer Award for 2020 activity. To earn this honor in 2020 is particularly impressive, due to the challenges brought on by the worldwide pandemic. Cisco-Eagle, with partner locations in Texas (Dallas, Houston, San Antonio), Oklahoma (Tulsa, Oklahoma City), and Arkansas (Little Rock), enjoys elite status as a Steel King Excalibur dealer located in Tennessee (Nashville). The MVD award was launched in 1996 by Steel King to recognize the achievement of top channel partners in the warehouse, logistics, material handling, and facility management industry. A variety of factors were considered in determining the MVD, including the achievement of sales and marketing action items. www.steelking.com
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