IDEX Reports Second Quarter Results; Delivers Record Operating Margin and EPS; Raises Low End of Full Year EPS Guidance

News Release
July 25, 2019

LAKE FOREST, Ill.–(BUSINESS WIRE)–Jul. 25, 2019– IDEX Corporation (NYSE: IEX) today announced its financial results for the three month period ended June 30, 2019.

Second Quarter 2019 Highlights

  • Sales were up 1 percent overall and 3 percent organically
  • Reported operating margin was 24.2 percent with adjusted operating margin of 24.5 percent, up 90 bps
  • Reported EPS was $1.48 with adjusted EPS of $1.50, up 7 percent
  • Acquired Velcora Holding AB in July

 

View full report at: https://investors.idexcorp.com/news-releases/news-release-details/idex-reports-second-quarter-results-delivers-record-operating

Fast & Fluid Management Featured on “How it’s Done” TV Show

Company News
July 24, 2019

Fast & Fluid, which manufactures precision paint tinting dispensers and mixing equipment, was recently featured on the Dutch TV program, “How it’s Done.”

Filmed earlier this year, the editors visited Fast & Fluid in Sassenheim, Netherlands, and filmed one of the new Harbil assembly lines. Strategic Product Line Manager, Goran Aleksijovski and Manager of Operations, André van Dijk give an overview of how we design, develop and produce our dispensers, who our customers are and what we find important.

To see “How it’s Done” with English subtitles, click here

IDEX Corporation Acquires Velcora Holding AB

Company News
July 18, 2019

IDEX Corporation (NYSE:IEX) today announced the acquisition of Velcora Holding AB and its Roplan and Steridose businesses from FSN Capital Partners for cash consideration of 1.28 billion Swedish kronor (~$137 million).

Roplan is a global manufacturer of custom mechanical and shaft seals for a variety of end markets including food & beverage, marine, chemical, wastewater and water treatment. Steridose develops engineered hygienic mixers and valves for the global biopharmaceutical industry. Both companies are headquartered in Sweden, with operations in China, the United Kingdom and the United States. Total revenues are approximately 375 million Swedish kronor (~$40 million).

“We welcome Roplan and Steridose to the IDEX family of businesses. These companies complement both our Sealing Solutions as well as Health and Sciences platforms well,” IDEX Chairman and CEO Andy Silvernail said. “In our unique structure, companies retain a great deal of autonomy, while benefitting from the expertise and operating model at IDEX. Roplan and Steridose should flourish as part of our culture, where great teams win together by focusing on the things that matter most, combined with an obsession on solving our customers’ most challenging problems.”

To view source version on businesswire.com: https://www.businesswire.com/news/home/20190718005337/en/

PPE Launches Perlast Helios product at SEMICON WEST

Company News
July 9, 2019

Precision Polymer Engineering (PPE), manufacturer of high-performance sealing technology, launched their new Perlast® Helios G7HA seal at the SEMICON West tradeshow today.

Perlast® Helios G7HA is a high purity perfluoroelastomer (FFKM) that offers outstanding long-term mechanical performance and plasma resistance in high temperature semiconductor applications.

Previously in the semiconductor sealing market, compromises had to be made between seal purity and high performance in plasma environments. Perlast® Helios G7HA is one of the first elastomer innovations to give reliable results across both purity and resistance to aggressive plasmas.

“Perlast® Helios G7HA is a step change in semiconductor equipment sealing,” said Knut Beekmann, Business Line Manager for Semiconductor at PPE.

In extensive testing, Perlast® Helios G7HA outperformed competitor materials in aggressive plasmas – including high concentrations of fluorine radical plasmas – at temperatures up to 310°C.

“This new material has been developed in line with what our customers have been asking for – a fully organic FFKM which delivers outstanding plasma resistance in high temperatures. We’re delighted with the results from laboratory testing and customer trials. We’re confident that G7HA will play a key role in cutting equipment downtime and reducing overall cost of ownership across a wide range of semiconductor applications,” he said.

Perlast® Helios G7HA has been developed for use in wet and dry semiconductor processes, including etching, stripping and cleaning. The new material is expected to be molded into dynamic and static sealing products, including isolation valves, chamber O-rings and gas inlet seals.

To view a video of the product, click here

 

 

Trebor Assists Riverside Elementary with BizTown Program

Company News
June 24, 2019

Continuing their partnership with Riverside Elementary School, eight Trebor employees volunteered to help with Junior Achievement’s BizTown program in West Jordan, Utah, this month.

BizTown, which is a part of the Junior Achievement (JA) program, offers 5th grade students an opportunity to run their own business and learn about managing income and expenses through an interactive and hands on simulation.

Students applied for jobs in class and were elected to be anything from a CEO to a Sales Manager to the Mayor of the City.

Trebor received $12,500 from the IDEX Foundation so the entire school could have the JA In-Class and BizTown programs for 5th graders in 2018.

JA is a non-profit education organization dedicated to teaching work readiness, entrepreneurship and financial literacy

Because of the sponsorship, 719 students at Riverside Elementary were able to participate in the five-week in-class Junior Achievement program. With 11 Trebor employees volunteering for an hour each week, students learned about entrepreneurship, needs versus wants, different career paths, taxes, managing money, and other important topics.

Forty-one percent of the Trebor workforce has volunteered at Riverside, donating a total of more than 110 hours of service. To show their appreciation, multiple students sent “Thank You” cards to the teachers and BizTown volunteers for the impact the program and Trebor employees made in their lives.

Based just south of Salt Lake City, Trebor is a unit of IDEX that manufactures quartz heaters for deionized water and chemical applications, in addition to high purity, plastic pumps for chemical applications

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Wrightflow Volunteers Renovate Salvation Army Homeless Center in U.K

Company News
June 19, 2019

Wrightflow Technologies, a unit of IDEX which manufactures pumps for beverage, food, chemical and industrial applications, continued their partnership with the Salvation Army earlier this month.

Ten employees from the Customer service, Engineering and Shop floor teams volunteered during the weekend to help improve the overall look of the Day Center for the homeless in Eastbourne, United Kingdom.

Located only a couple of miles away from the Wrightflow headquarters, employees prepared and cleaned the Day Center before repainting the interior walls and skirting boards.

The Day Center is vital in the community as volunteers use it to help and feed the homeless. The Centre provides hot meals, health clinics, showers and laundry facilities, use of computers and telephone.

Since 2017, Wrightflow employees have worked closely with the Salvation Army to collect toys during Christmas, to pack Christmas boxes for disadvantaged families, and to raise money through bake sales.  

The Salvation Army has been fighting against social inequality and transforming lives worldwide for over 150 years. Today, the Salvation Army is active in virtually every corner of the world, serving the less fortunate in more than 130 countries.

To watch a video about the Salvation Army, click here

 

 

 

 

Thirty Years After Listing, IDEX Rings NYSE Bell

Company News
June 18, 2019

Thirty years after IDEX was first listed on the New York Stock Exchange, members of the IDEX leadership team and board of directors rang the bell to officially open the trading day on Tuesday, June 18.

“We’re here because of the hard work of IDEX employees around the world who are dedicated to solving many of our customers’ biggest challenges,” IDEX Chairman and CEO Andy Silvernail said. “From lifesaving tools manufactured by our Fire & Safety Diversified segment, to pumps and seals from our Fluid and Metering Technologies segment that keep chemicals flowing safely, to fluidics and optics from our Health & Science segment that makes faster DNA sequencing possible, the products we engineer and manufacture make the world a better place in countless ways.”

You can watch the bell-ringing at the NYSE here.

IDEX was first listed on the NYSE as a public offering on June 2, 1989. Since then, the company has grown from three core companies in the United States to more than 40 worldwide.

“The strong reputation we have earned in the manufacturing sector has been built through the trust and dedication of our tremendous teams,” Silvernail said. “Together I’m confident we will continue building toward an even better future.”

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IDEX Corporation Announces Appointment of Carl R. Christenson to Board of Directors

News Release
June 17, 2019

LAKE FOREST, Ill.–(BUSINESS WIRE)—June 17, 2019– IDEX Corporation (NYSE:IEX) today announced the appointment of Carl R. Christenson to the company’s Board of Directors. The appointment of Mr. Christenson, effective immediately, increases the size of the Board from nine to ten directors. Mr. Christenson will serve on the Board’s Compensation Committee.

“The experience Carl brings as a Chief Executive Officer of a public company is an ideal fit with IDEX. He has a proven ability to accelerate growth while executing strategic acquisitions and driving superior shareholder returns,” IDEX Chairman and Chief Executive Officer Andrew K. Silvernail said. “Carl’s vast industry experience and track record as a values-driven leader of global organizations will be a tremendous asset to our Board and management.”

Mr. Christenson serves as Chairman and CEO of Altra Industrial Motion Corp. (“Altra”) (NASDAQ: AIMC), a leading global designer, producer and marketer of a wide range of electromechanical power transmission motion control products. Prior to his current position, Mr. Christenson served as President and Chief Operating Officer of Altra from January 2005 to December 2008. From 2001 to 2005, Mr. Christenson was President of Kaydon Bearings, a manufacturer of custom-engineered bearings and a division of Kaydon Corporation. Prior to joining Kaydon, Mr. Christenson held several management positions at TB Wood’s Incorporated and several positions at the Torrington Company.

Mr. Christenson holds M.S. and B.S. degrees in Mechanical Engineering from the University of Massachusetts and an M.B.A. from Rensselaer Polytechnic Institute.

About IDEX

IDEX (NYSE: IEX) is a company that has undoubtedly touched your life in some way. In fact, IDEX businesses make thousands of products that are mission-critical components in everyday activities. Chances are the car you’re driving has a BAND-IT® clamp holding your side airbag safely in place. If you were ever in a car accident, a Hurst Jaws of Life® rescue tool may have saved your life. If you or a family member is battling cancer, your doctor may have tested your DNA in a quest to find the best targeted medicine for you. It’s likely your DNA test was run on equipment that contains components made by our growing IDEX Health & Science team. Founded in 1988 with three small, entrepreneurial manufacturing companies, we’re proud to say that we now call 40 diverse businesses around the world part of the IDEX family. With 7,000 employees and manufacturing operations in more than 20 countries, IDEX is a high-performing, global $2+ billion company committed to making trusted solutions that improve lives. IDEX shares are traded on the New York Stock Exchange under the symbol “IEX”.

For further information on IDEX Corporation and its business units, visit the company’s website at www.idexcorp.com.

Source: IDEX Corporation

IDEX Corporation

William K. Grogan

Senior Vice President –Chief Financial Officer

847.498.7070

Akron Brass Promotes Child Literacy Through Summer Reading Program

Company News
June 17, 2019

Seven Akron Brass employees from the Marketing, Customer Service, Manufacturing and Accounting departments volunteered to greet guests, help kids shop for books, and serve hot dogs and other snacks to attendees. Additionally, Sarah Hay, Director of Marketing at Akron Brass, was a guest reader, capturing the attention of many enthusiastic young readers in grades K-6th.

In collaboration with the IDEX Foundation, Akron Brass also donated $1,500 to “One Community, One Book” to provide back packs, free books and concessions to more than 1,300 Wooster Community children through “Reading Under the lights”.

“Reading Under the Lights”, which is hosted by The United Way of Wayne Country, Holmes County and Wooster city schools, is an annual free two-hour event to encourage learning and prevent “summer slide”.  “Summer slide” is the tendency for students to lose some of the achievement gains they made during the previous school year

 

Gast Supports Mobile Food Pantry and Foster Children

Company News
June 12, 2019

The team at Gast partnered with Feeding America in southwest Michigan (USA) to sponsor a mobile food pantry in celebration of National Volunteer Week last month.

A team of 11 volunteers, representing multiple departments at Gast – a unit of IDEX which manufactures pneumatic products to move air and other gases — spent the afternoon setting up and operating a mobile “store” in a local neighborhood.

Mobile food pantries differ from traditional food banks by driving into neighborhoods and bringing food directly to the people who need it most. The mobile food pantry offered a variety of staples such as fresh fruits, vegetables, bread, milk, frozen goods, and even sweets.

In collaboration with the IDEX Foundation, The Gast mobile food pantry provided food to 82 households, feeding 278 total people in the community. After the event, a van load of extra milk was sent to a brick and mortar food bank to be handed out to even more people in need.

But Gast didn’t stop there.

The following day, the Employee Volunteer Team hosted a Burrito Breakfast with eggs, potatoes, and sausage burritos to benefit the United Way of Southwest Michigan. This year, though, the team put a new spin on it: Burritos and Briefs!

Every year, hundreds of children in southwest Michigan move in and out of foster care, too often only carrying the clothes they’re wearing. Most of the clothing they receive is through secondhand donations, and they often run out of underwear, so they must purchase them brand new.

Instead of cash, Gast employees purchased their burritos with a package of new underwear to be donated to the Foster Closet of Berrien County.

Gast employees full heartedly embraced this new spin on an established tradition and bought more than 200 burritos – more than ever before! Between the donated packages and those bought with the collected cash, Gast provided an astounding 1,137 pairs of underwear to the Foster Closet of Berrien County.

Gast’s next volunteer events are a Red Cross blood drive at the end of May, their second mobile food pantry distribution in June, and a food challenge with local businesses to support United Way’s “Christmas in June” food drive.

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