Author: chickletmarketing

Spincraft UK £1M Investment Expands Aviation and Space Capabilities

Newcastle-upon-Tyne GB: May-2017: Spincraft ETG, based in the heart of northeast England, recently received £1M funding from their parent company Standex. As a provider of metal-forming solutions, this funding will allow the manufacturing plant to further expand its capacity and breadth of services, especially within the Aviation and Space markets.

What makes the Newcastle-based Spincraft plant unique is their metal forming capabilities including CNC Spin Forming, Sheer forming and Pressing (using cold and hot forming). The substantial investment will permit the creation of a brand new aeronautics manufacturing cell, allowing the Newcastle plant to offer its customers full turn-key solutions in-house.
Mike Hutchinson, Spincraft’s Operation Director said:

“Matching our investment with our customer’s long term needs is crucial for the future of the Newcastle plant. Our highly committed and experienced teams are anxiously awaiting the new cell”
The initial stage of the investment includes the following processes within the vertically integrated cell:
• Vertical Turning • 5-Axis milling • CMM and Control Room • FPI Inspection • Laser Faro Scanners • Shadow Graph & Part Marking
Cell construction is well underway, and initial segments are expected online as early as summer 2017.
Catherine McKinnel, currently standing as candidate for Labour Member of Parliament for Newcastle North, recently visited Spincraft to learn more about the plant’s capabilities and future plans. McKinnel toured the Newburn facility and had the opportunity to meet with management and factory employees.
Catherine reported:
“It’s really exciting to know that world-leading technology developed and manufactured here in Newcastle is winging its way into space – but even more so to learn that we could be playing a leading role in this growing international industry in the years to come. I am looking forward to supporting Spincraft’s plans for the future.”
McKinnells full review of her Spincraft ETG visit can be found at
www.catherinemckinnellmp.co.uk
About Spincraft, Standex Engineering Technologies Group
SPINCRAFT and ENGINETICS form Standex’s Engineering Technologies Group (ETG). Six facilities across the US and UK provide global manufacturing solutions via collaborative engineering efforts. Precision metal forming technologies are supported by vertically integrated manufacturing processes. ETG solutions support Aviation, Defence and Space-System markets. For more information about Spincraft and Enginetics, visit www.standexetg.com
About Standex Standex International Corporation is a multi-industry manufacturer in five broad business segments: Food Service Equipment, Engineering Technologies, Engraving, Electronics, and Hydraulics with operations in the United States, Europe, Canada, Australia, Singapore, Mexico, Brazil, Argentina, Turkey, South Africa, India and China. For additional information, visit the Company’s website at www.standex.com/

Dr. T. Kent Pugmire Inducted to the AIAA Class of 2016 Fellows

June 15, 2016: AIAA Aerospace Spotlight Awards Gala, Washington DC.

Standex ETG Technical Representative, Dr. T. Kent Pugmire, was recently honored by the American Institute of Aeronautics and Astronautics (AIAA) as a Class of 2016 Fellows.

Pugmire has worked with Spincraft / Standex ETG for 20+ years as Technical Representative and Consultant to the Space Systems market. Members of the ETG team were on hand for the celebration, joining several of Pugmire’s family members and business associates at the AIAA Spotlight Awards Gala held in Washington DC June 15, 2016.

AIAA Fellows are recognized as “persons of distinction in aeronautics or astronautics, who have made notable and valuable contributions to the arts, sciences, or technology thereof.” The AIAA board of directors elects only 1 Fellow per 1,000 members; with 24 Fellows appointed to the 2016 Class.
Pugmire was acknowledged by the Institute for his ‘ pioneering contributions to the design, development, and application of in-space propulsion systems, and a half-century of service to AIAA’.
A member of the Institute for 55 years with over 70 publications, Pugmire, a 30 yr. active member of the Liquid Propulsion Technical Committee, has organized and chaired over 50 Joint Propulsion Conference sessions. He developed arc heated reentry test facilities for primes and NASA followed by invention and development of electro-thermal heated engines and propulsion systems for 40 spacecraft, commencing operational use of electric propulsion for spacecraft. One of Pugmire’s electro-thermal concepts is the ongoing basis of over 250, long life, station keeping engines.
ETG President, Len Paolillo, commented: “The recognition Kent received for his contributions to AIAA and to the Aerospace community was overdue and very well deserved. Kent has long been a key contributor to ETG with his technical expertise and business acumen, and a trusted adviser to me personally for a number of years. The entire ETG team is honored and proud to have Kent as our colleague.”

Community Leaders visit Spincraft WI

New Berlin Mayor, David Ament, and Chamber of Commerce President, Gary Szpara recently visited the Spincraft WI plant. Ament and Szpara met with General Manager, Gary Frey, to learn about Spincraft manufacturing capabilities and how they are utilized to solve unique challenges for the various markets served by this plant. The visit was highlighted by a tour of the 100,000 sq foot factory to see first-hand several of Spincraft’s critical components and assemblies in production.

Standex Awarded Contract from Airbus for A320neo Aircraft

SALEM, N.H.–(BUSINESS WIRE)–Standex International Corporation (NYSE:SXI) today announced that Spincraft, the Company’s engineered products metal fabrication business unit in its Engineering Technologies Group, has received a long-term contract from Airbus to produce single-piece lipskins for the nacelles on the Airbus A320neo, one of the largest-selling commercial aircrafts in the world. The contract, which runs through 2021, represents Spincraft’s second major award for the A320 neo program following last year’s announcement of the award for the geared turbo fan engine. Under the terms of the agreement, Spincraft will produce single piece spun and machined lipskins for 750 A320neo aircraft. The lipskins will be included in the aircraft’s CFM International LEAP-X engine option. Program development of the lip is expected to begin in early 2015, with the initial delivery scheduled for 2016.1
“This new contract for the A320neo marks our first direct supplier agreement with Airbus,” said Len Paolillo, President of Standex’s Engineering Technologies Group. “We will be using CNC forming technologies that we have developed and refined over the years, along with investments in other processes to support the production for this product line. This is a significant win for the Engineering Technologies Group in our targeted high-growth aviation market. The A320neo is one of the leading fuel-efficient planes in the industry today, and we have worked closely with Airbus, and will continue to collaborate with them to provide solutions in their efforts to achieve cost and efficiency improvements on their aircraft.1”

About Standex
Standex International Corporation is a multi-industry manufacturer in five broad business segments: Food Service Equipment Group, Engineering Technologies Group, Engraving Group, Electronics Products Group, and Hydraulics Products Group with operations in the United States, Europe, Canada, Australia, Singapore, Mexico, Brazil, Argentina, Turkey, South Africa, India and China. For additional information, visit the Company’s website at www.standex.com.

1Safe Harbor Language Statements in this news release include, or may be based upon, management’s current expectations, estimates and/or projections about Standex’s markets and industries. These statements are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may materially differ from those indicated by such forward-looking statements as a result of certain risks, uncertainties and assumptions that are difficult to predict. Among the factors that could cause actual results to differ are the impact of implementation of government regulations and programs affecting our businesses, unforeseen legal judgments, fines or settlements, uncertainty in conditions in the financial and banking markets, general domestic and international economy including more specifically increases in raw material costs, the ability to continue to successfully implement productivity improvements, increase market share, access new markets, introduce new products, enhance our presence in strategic channels and the other factors discussed in the Annual Report of Standex on Form 10-K for the fiscal year ending June 30, 2014, which is on file with the Securities and Exchange Commission, and any subsequent periodic reports filed by the Company with the Securities and Exchange Commission. In addition, any forward-looking statements represent management’s estimates only as of the day made and should not be relied upon as representing management’s estimates as of any subsequent date. While the Company may elect to update forward-looking statements at some point in the future, the Company and management specifically disclaim any obligation to do so, even if management’s estimates change.

Contact:
Standex International Corporation

Thomas DeByle, 603-893-9701

CFO

InvestorRelations@Standex.com

Standex Announces Enginetics Acquisition

SALEM, N.H.–(BUSINESS WIRE)–Standex International Corporation (NYSE:SXI) announced today that it has closed its previously announced acquisition of Ohio-based Enginetics Corporation, a leading producer of aircraft engine components serving the U.S. and European aviation markets. Enginetics had revenue of approximately $30 million in the trailing 12 months. This acquisition is expected to be accretive to earnings in the range of $0.03 to $0.05 excluding the impact of purchase accounting related to inventory and long term backlog in the remainder of Fiscal 2015 and $0.07 to $0.09 in the full year Fiscal 2016 excluding the impact of long term backlog.1
“Enginetics has been awarded a number of long-term agreements with OEMs and Tier one suppliers to support the next generation of energy efficient aircraft engines,” said Standex CEO David Dunbar. “With its experienced management team and value-added metal forming technologies, Enginetics will enable the Standex Engineering Technologies Group to expand its relationships with these important customers and increase its exposure to growing aviation markets in the United States and Europe. In addition, the acquisition presents us with opportunities to drive new business by selling Enginetics’ product solutions into non-aviation markets currently served by Standex.1”

About Enginetics
Headquartered in Huber Heights, Ohio, Enginetics produces commercial components for the commercial aviation market through a variety of forming processes.

1 Safe Harbor Language

Statements in this news release include, or may be based upon, management’s current expectations, estimates and/or projections about Standex’s markets and industries. These statements are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may materially differ from those indicated by such forward-looking statements as a result of certain risks, uncertainties and assumptions that are difficult to predict. Among the factors that could cause actual results to differ are the impact of implementation of government regulations and programs affecting our businesses, unforeseen legal judgments, fines or settlements, general domestic and international economy including more specifically increases in raw material costs, the ability to substitute less expensive alternative raw materials, the ability to continue to successfully implement productivity improvements, increase market share, access new markets, introduce new products, enhance our presence in strategic channels, the successful expansion and automation of manufacturing capabilities and diversification efforts, the ability to continue to achieve cost savings through lean manufacturing, cost reduction activities, and low cost sourcing, effective completion of plant consolidations, successful completion and integration of acquisitions and the other factors discussed in the Annual Report of Standex on Form 10-K for the fiscal year ending June 30, 2014, which is on file with the Securities and Exchange Commission, and any subsequent periodic reports filed by the Company with the Securities and Exchange Commission. In addition, any forward-looking statements represent management’s estimates only as of the day made and should not be relied upon as representing management’s estimates as of any subsequent date. While the Company may elect to update forward-looking statements at some point in the future, the Company and management specifically disclaim any obligation to do so, even if management’s estimates change.