Shandong Dyehome Intelligent Equipment Co.,Ltd(Company NEEQ STOCK CODE:836635)
The hydraulic upender's power unit provides an ideal power source for secondary functions such as shifting saddles and pallet centering.
The lower platform of a hydraulic upender facilitates loading and unloading so that they can accommodate a variety of equipment for secondary handling functions including:
Roll discharge tilt platforms.
Shifting saddles.
Pallet-centering systems.
Load and unload conveyors
Hydraulic Coil Upender,Steel Coil Hydraulic Upender,Hydraulic Coil Tilter Machine,Automatic Hydraulical Coil Upender Shandong Dyehome Intelligent Equipment Co., Ltd. , https://www.dyehomepack.com
LSI Corporation of the United States acquires Atlas Lighting
On February 21, 2017, LSI Industries Inc. announced that it has completed the acquisition of all equity capital of Atlas Lighting Products, a Burlington-quality LED lighting product entering the distribution market. For the fiscal year ended December 25, 2016, Atlas's revenue was $56.5 million and revenue was 8 February 21, 2017. LSI Industries Inc. announced that it has completed the acquisition of all equity capital of Atlas Lighting Products. The company is a quality LED lighting product from Burlington entering the distribution market. For the fiscal year ended December 25, 2016, Atlas had revenues of $56.5 million and operating income of $8.8 million, of which private company fees were estimated to be $3.6 million. Similarly, the adjusted EbitDA is estimated to be approximately $9.7 million in net cash, and Atlas's balance sheet is undebted on December 25, 2016. Founded in 1992, Atlas has been operating as an S company since its inception. The terms of the agreement include a cash payment of $969 million, plus 200,000 five-year warrants, and the acquisition of LSI's common stock at an exercise price of $9.95 for a total consideration of $97.5 million. The funds will be provided by a combination of cash on hand and a $66 million from a new $100 million commercial banking institution provided by PNC Bank. CEO and President Dennis W. Wells commented: I am very pleased to announce the acquisition of Atlas Lighting Products. This highly strategic acquisition is the largest acquisition in LSI's history and will immediately expand our lighting products, expand our purchasing power, increase profit margins, and provide significant revenue and cost synergies. Atlas's fast standard product line, including flooding, wall mounting, linear, column mounting and overhead luminaires, complements LSI's custom product line with minimal overlap, providing our customers with a very complete LED lighting portfolio. LSI intends to maintain the Atlas brand, a name that has been well received in the power distribution market, and we will maintain an independent proxy network for the LSI and Atlas product lines. In our early integration program, we identified a number of product cross-selling opportunities to provide more products to both sales channels for sales agents and distribution partners, resulting in synergistic revenue growth opportunities at LSI. In addition to the complementary product lines of LSI and Atlas, we expect this acquisition to generate significant cost synergies. Atlas has established a procurement channel in Asia and we plan to use it in LSI's existing business. These procurement relationships and the additional cost savings we identified during the due diligence process are expected to benefit LSI in the short term, and the savings from eliminating private company spending will immediately benefit. We intend to implement an LSI business system to maximize savings potential. Over the past few months, I have been impressed with Atlas' management team and I am very happy to welcome all employees to LSI. We intend to maintain the Atlas facility in Burlington, North Carolina, and sign a seven-year lease contract with a variety of renewal options. Given the complementary products of LSI and Atlas, coupled with the expected revenue and cost synergies, I expect this acquisition to increase LSI's performance from FY1818 and will accelerate revenue growth above market rates and increase our gross profit. And operating profit margins. This is an exciting time in the lighting industry and I believe that the combination of LSI and Atlas will provide many growth opportunities. James H. Bennett, President of Atlas Lighting Products, commented: I am very pleased to work with LSI Industries. I have always believed that LSI is the quality manufacturer of custom lighting fixtures, and I look forward to continuing to serve as President of Atlas Lighting, working with Dennis and the LSI team to grow the business. Chairman and CEO Sam Hunt III commented: After 25 years in the lighting business, I am happy to announce retirement. I believe that under the management of Dennis Wells, Jim Bennett and the entire LSI team, my business will be in good shape and I wish them great success in the future.