Magnetics Business & Technology - September/October 2021 - 29

INDUSTRY NEWS
proximately $9.9 million or 168% year-over-year which reflected
operating leverage associated with revenue growth, profit contribution
from Renco which it acquired last year for $28 million,
and pricing and productivity initiatives. At 13.3%, the company
operating margin was the strongest ever reported for a quarter.
The electronics segment accounted for about 41% of company
sales.
" Over the past several years, we
have transformed our portfolio
around businesses with attractive
growth and margin profiles as well
as strong customer value propositions.
Today's announcement
reflects our focus on accelerating
deployment of our deep technical
and applications expertise to meet
customer needs in emerging growth
markets such as renewable energy,
electric vehicles, smart grid and
functional surfaces " said President
and CEO David Dunbar.
" We are entering fiscal 2022 well-positioned for improved financial
performance as we continue to build on our portfolio of highquality
businesses. We expect positive trends in end markets
such as electric vehicles, renewable energy, and smart grid. In
addition, there are new business opportunities in the space and
aviation sectors complemented by ongoing company-wide new
product development efforts, " he said.
The company also announced on August 12 that Flavio Maschera,
president of the engraving segment, is being elevated to
chief innovation and technology officer, a newly created position
in the company. He will lead a corporate innovation and development
team while working with the segment presidents and their
teams to drive the development of new technologies and improve
internal innovation processes.
David Dunbar, President
and CEO of Standex
" In fiscal 2022, we have a healthy pipeline of productivity and
efficiency initiatives which will provide further margin opportunity.
In particular, our focus on mitigating material inflation and
improving our cost position in the Electronics segment through
changes in reed switch production and material substitution are
expected to be substantially complete by the end of fiscal 2022, "
noted Dunbar.
The electronics group is a global component and value-added
solutions provider of both sensing and switching technologies
along with magnetic power conversion components and assemblies.
Business unit names are Standex Electronics, StandexMeder
Electronics, Northlake Engineering, Agile Magnetics,
Standex Electronics Japan, and the MEDER, KENT, and KOFU
reed switch brands. Components are manufactured in plants
located in the U.S., Mexico, the UK, Germany, Japan, China and
India.
For more info, see www.standex.com.
magnetic
instrumentation
* Magnetizers &
Demagnetizers
* Production & Prototype
Magnetizing Fixtures
* Automated Flux Scanners
* Hard & Soft Hysteresigraphs
* Gaussmeters & Fluxmeters
* Helmholtz Coils
* KJS Associates™
Measurement Services
* ISO 17025 Accredited
Calibration
* Magnetizing Services
* Magnetic Consulting
* Prototype Design &
Fabrication
* FEA Services
* Professional Seminars
Production
Magnetizing
Systems
Standard & Custom
Systems built
with Advanced
Technologies
(317) 842-7500 * MAGINST.COM
www.MagneticsMag.com
September/October 2021 * Magnetics Business & Technology 29
http://www.standex.com http://www.MAGINST.COM http://www.MagneticsMag.com
Magnetics Business & Technology - September/October 2021

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