We are proud to share the success of iPEK at a recent charity run. The business located in Germany was a proud sponsor and participated in the run raising 800 EUR for Herzenswünsche Allgäu e.V. and the children’s hospice St. Nikolaus. Both organizations offer unique youth services that support families during hard times.
The event saw 12 enthusiastic participants from the iPEK team tackling both the 5.5 km and 10 km routes. Several runners achieved impressive results, showcasing not only their physical endurance but also their dedication to supporting causes that make children smile.
The feedback from participants after the charity run has been overwhelmingly positive, with many expressing a strong desire to join events like these again next year. This enthusiasm reflects iPEK’s commitment to making a difference in their local community.
iPEK is one of the leading global players covering a wide product range in the field of sophisticated high-quality pipeline inspection systems.
For the past year, one of the playgrounds at the Rochester Childfirst Network has been closed due damage created during a new roof installation. Kids served by the early education nonprofit will soon be able to swing and climb again thanks to team members at IDEX Health & Science in Rochester, New York. They recently fixed the damage done by large machinery and mulched the entire area to the proper depth.
The IH&S team has partnered with the Rochester Childfirst Network for the past eight years. The charity focuses on equity in early education. Rochester Childfirst Network believes in the inherent potential of every child, regardless of their background or needs. They promote equitable access to comprehensive services by providing innovative early care and educational programming for young children and their families in a safe, diverse, and nurturing environment.
The charity is located on an oasis of 5 acres in the middle of the city. Many of the children live in apartments without green space and this gem focuses on nature-based play to inspire curiosity and learning.
The Rochester team helps weed, clean, and mulch the playgrounds and outdoor spaces regularly, resulting in a total of 100 hours volunteered this past year. They also focus on reviving the sensory garden located within the school’s inner courtyard. This is a calming space meant to help ground students who may be dealing with sensory overload.
The team at IH&S is continuously grateful to the IDEX Foundation and Rochester Childfirst Network for all that you do to make a difference in everyday lives.
With the help of the IDEX Energy group, students in elementary through high school learned to build their own miniature battery-powered vehicles.
Thanks to a group of leaders from Advanced Flow Services (AFS), Energy Asia, FlowMD, Marketing & Engineering India, Toptech Systems, and Sampi, students at the Oviedo Boys & Girls Clubs of Central Florida (BGCCF) were introduced to engineering in a fun and engaging way.
Everyone was divided into six groups and IDEX leaders in each of those groups guided students through the assembly of their wooden building kit using the written and graphic instructions. After some trial and error, the students were able to enjoy their vehicles. Some even asked their parents to stay longer to continue the fun. Following the activity, IDEX volunteers served the students dinner and got to learn more about their interests.
In 2021, Toptech Systems, with the help of the IDEX Foundation, participated in opening the Oviedo Boys & Girls Club with the donation and installation of all their computers and TVs. Since then, Toptech has participated in projects like building a raised garden and revamping their teen area.
The Community Champions team at Precision Polymer Engineering (PPE) has been hard at work building beehives and planting flowers and vegetables as part of their Community Garden project for 2024.
The beehive installation involved the construction of two hives and the re-location of a bee colony to a new home at their manufacturing facility in Blackburn, England. The wider community garden project required building three raised beds, planting nectar-rich cottage garden flowers and native wildflowers, to ensure their new residents have plenty to keep them occupied!
There is also the prospect of delicious PPE honey later on in the year, the sale of which will be rolled into supporting their ongoing relationship with Blackburn Foodbank.
“It’s been a fascinating project to be involved with,” said Donna, Marketing Communications Manager and member of the Community Champions team. “I’m pretty sure none of us had any prior experience going into this challenge, but having the opportunity to learn about beekeeping and get stuck into the build process has been fantastic. We can’t wait until our new friends are settled in their new homes, and hope they’re buzzing with excitement at the habitat we’ve all helped to create!”
The creation of this Community Garden is part of a wider initiative across all IDEX Corporation businesses to enrich our local working environments and do what we can to support and improve our local ecosystems. IDEX Health & Science in Rochester, New York, first planted their community garden in 2021 and they are now entering their fourth growing season, with employee volunteers sharing the harvest with their colleagues.
Earlier this year, employees at PPE in Blackburn spent a sunny day vegetable planting and expanding their communal space. So far, they’ve planted peas, potatoes, strawberries, onions, beetroot, radishes and tomatoes. They’ve also added picnic benches and a compost bin on-site. They are now working on adding organic nourishment to their soil. (They are currently in the market for alpaca poop.)
This endeavor comes following the installation of solar panels across the entirety of the facility, cutting PPE’s carbon footprint significantly. Keep a look out on PPE’s LinkedIn page for the latest from all of their Community Champions projects. We hope you feel inspired to initiate your own community garden at your location business.
PPE is part of IDEX Sealing Solutions, which engineers and manufactures seals for some of the world’s most demanding and critical applications. They are one of a handful of IDEX businesses who have created a community garden.
After three years of determination and innovation, SFC KOENIG China celebrated the launch of their Local Pull Expander Assembly Line in April.
The long-term project demanded testing over 30 different local supplier parts and equipment for quality assurance, producing ten different versions of the assembly line layout. Now, SFC KOENIG China has locally produced a high-quality sealing solution that enhances service and agility for a dynamic Chinese market.
Previously, SFC China had no production line for pull type expanders. They were only produced in United States and Switzerland. By producing the majority of product in their same region, SFC reduces reliance on any single production site while improving the ability to react rapidly to regional volume fluctuations. This strategy also offers an additional layer of risk mitigation from supply interruptions caused by natural disasters or other unforeseen occurrences.
SFC KOENIG & BAND-IT President Anton delivered an opening speech at the facility in Xiang Cheng District, Suzhou, China to mark this exciting moment for all employees. Project leader Juha introduced the new assembly line in detail and led tours for all attendees.
Despite facing various obstacles, such as COVID-19 restrictions, market fluctuations and global logistics interruptions, the production team never gave up and insisted on finding solutions with guidance from leadership.
Today, SFC KOENIG China uses their new assembly line for all production and quality processes. They’ve also passed the first official customer audit with high score and received their first official customer order as well.
Pull type expanders are used in a wide range of industries applications and markets, including fluid power and hydraulic segments, automotive, commercial vehicle and off-road applications.
SFC KOENIG produces engineered, high-performance metal-to-metal sealing and flow control solutions for applications with high quality and performance standards. Their expanders, flow restrictors, check values and other products are used in automotive, aerospace, medical and other applications.
At IDEX, we’re not just about creating trusted solutions that improve lives. We’re about igniting progress that resonates within our communities, safeguarding the heroes who protect us.
This goal was brought to life last month at FDIC International, one of the largest gatherings for firefighting professionals, held each spring in Indianapolis. There, IDEX Fire & Safety didn’t just participate, we led the charge in Fire and Safety innovation.
On spotlight this year was our SAM™ Integrated Total Water Control System. SAM is an automated flow control system that manages the truck’s pump, tank, intakes and discharges. With its touch screen display and speed of use, this technology has been setting new benchmarks in firefighting for over half a decade.
At our outside booth, we kicked things off with a live face-off. It was old vs. new – a traditional mechanical truck pitted against one armed with the newer SAM system. It was here that attendees had an eye-opening glimpse into how technology could change their pumping operations.
The crowd was all buzz at the SAM Challenge, and our very own Gurmeet Kharbanda from Corporate IT – Digital Transformation & IoT Enablement (with no firefighting experience) decided to step up to the challenge.
Despite Gurmeet being a newcomer to fire trucks, his attempt operating the old mechanical truck was impressive. But, when he switched to the SAM system, it was like witnessing a revolution in real-time. He began flowing water at 1 minute and 28 seconds—compared to 3 minutes and 25 seconds on the mechanical.
Gurmeet’s trial with the SAM wasn’t just faster. It was a stark revelation. It underscored our promise of efficiency demonstrating how intuitive and impactful our solutions can be, especially when every second counts.
Seeing Gurmeet, with no prior experience in commanding fire trucks, take to the SAM system with such ease was a testament to its user-friendly design. It was so powerful, in fact, that it had Gurmeet joking about a switch in careers!
While the SAM system caught most of the limelight, it wasn’t the lone hero of the show. Every initiative showcased our unwavering commitment to pushing boundaries with tech that’s not just advanced, but also approachable and profoundly effective. The challenge wasn’t just about beating the clock, it was a tribute to our continuous innovations, integrated solutions, and simple design.
IDEX Fire & Safety’s trusted brands in North America include Akron Brass, Hale, and HURST Jaws of Life, all of which serve first responders with equipment for the rescue scene.
First Quarter 2024 Highlights (All comparisons are against the first quarter of 2023 unless otherwise noted)
Sales of $801 million, down 5% overall and 6% organically, in line with expectations
Reported diluted EPS of $1.60, down 13%, and adjusted diluted EPS of $1.88, down 10%, exceeding first quarter expectations
Strong operating cash flow of $157 million, up 6%; free cash flow of $137 million, up 13%
Full Year and Second Quarter 2024 Outlook
Full year organic sales growth is projected to be 0% to 2% over the prior year
Full year GAAP diluted EPS of $7.13 – $7.43 (adjusted diluted EPS of $8.15 – $8.45)
Second quarter organic sales are projected to decline 2% to 3% over the prior year period
Second quarter GAAP diluted EPS of $1.75 – $1.80 (adjusted diluted EPS of $2.00 – $2.05)
NORTHBROOK, IL, April 23, 2024 – IDEX Corporation (NYSE: IEX) today announced its financial results for the three-month period ended March 31, 2024.
“Our IDEX teams delivered solid results in the first quarter, expanding margins within our Fluid & Metering Technologies and Fire & Safety / Diversified Products segments while driving strong cash flow across the company,” said Eric D. Ashleman, IDEX Corporation Chief Executive Officer and President.
“We experienced an encouraging lift in sequential orders from our core industrial and municipal markets after an extended period of destocking. The Health & Science Technologies segment performed to expectations, but there are differing rates of recovery within its targeted markets. We will deploy resources accordingly to build momentum in these advantaged markets through the remainder of the year.”
“We remain committed to creating superior long-term value by aggressively deploying resources to drive growth both in our current businesses and acquiring new businesses in advantaged markets.
The new biopharma grade MP350 Microlyser™ processor from Microfluidics, a unit of IDEX Material Processing Technology (MPT), won the Biotech Innovation Award at the Interphex global pharmaceutical and biotechnology conference in New York City this week.
The MP350 Microlyser™ processor is designed for production scale cell disruption, which is used in the manufacturing of many biological products such as antigens for vaccines, and viral vectors that deliver genes for next-generation gene therapy. Cell disruption is the process of breaking open (lysing) cells to obtain the intracellular fluid (lysate) and valuable intracellular components.
Microfluidics’ newest processor was launched in India at the PMEC show in November 2023 and its appearance at the Interphex show was its first outing in the United States.
According to Interphex, “The Biotech Innovation Award acknowledges an exhibitor’s innovative application to a given product or service that not only addresses an industry need but does so in such a way as to exceed previous standards or applications—thereby making the given process simpler, smoother, or easier to navigate.”
This new technology was jointly developed by the IDEX MPT teams in both India and Westwood, Massachusetts (USA). The launch is the result of two years of dedication across Microfluidics’ engineering, manufacturing, application, and marketing teams.
“I’m very proud of the collaboration between our teams,” Microfluidics’ Director of Machines Steve Mesite said. “The final product is extremely well-designed and functions exactly as desired. This innovation offers a great opportunity for Microfluidics because it enables growth into biotech scale up opportunities that we didn’t have in the past.”
How is Microfluidics’ Solution Different?
Microfluidics’ Microlyser™ technology is a new hybrid approach to cell disruption, pairing Microfluidics’ proprietary Interaction Chamber™ with a unique sanitary electric pumping system to create an unprecedented production scale solution.
Their engineering and application experts worked tirelessly for two years to create this revolutionary biopharma technology, which achieves maximum yields, improves product quality, and delivers optimum yields in production scale cell disruption for a wide range of cells.
“The Microlyser™ project was a great experience as the team from India & U.S. collaborated to develop a technology which fills in a critical customer need. The way the team worked together is a great example of the IDEX Difference in action,” Dhiraj Pandit, Managing Director, MPT Asia, said.
“I am so proud of this team for their phenomenal work in successfully developing the Microlyser™ technology,” Daljit Singh, Sales Director- Microfluidics said. “The team displayed amazing collaboration and partnership approach in handling project’s complexities with a positive mindset, which was key to success. It was an honor to be part of this great team.”
During a three-day gathering, GAST employees from all over the U.S., Europe, and Asia unite to share strategy, marketing, and new products hoping to garner excitement about the brand and its trajectory.
Distributors are best described as the eyes and ears of the market. They are important because they help them access local markets through their unique relationships with end-users and customers in unique communities.
While discussing strategy is always important, it’s no secret that networking and team building are essential to any team’s success. The GAST Forum embraces that outlook and intentionally includes opportunities for all attendees – including the extended distributor network – to interact and learn how to best support one another.
GAST Distribution Partners are deeply engaged in meeting the daily needs of their customers, brimming with enthusiasm, unwavering commitment, and a steadfast expectation of excellence for themselves and GAST.
An air-moving business unit of IDEX, GAST continues to develop and manufacture product offerings with a variety of medical, dental, and food service applications, including powerful compressed air riser mount systems, ventilators and oxygen concentrators that align with our mission – Trusted Solutions Improving Lives™
As part of their ongoing commitment to positively impact young girls, IDEX India partnered with the IDEX Foundation and a local non-governmental organization (Vatsalya Trust) to host an event for Balikashram girls (underprivileged girls) celebrating the power of dreams.
The two-hour session attended by over 130 people focused on one main goal – to help young girls realize their full potential. The group discussed pursuing passions, personal growth, and overcoming challenges. Students were deeply engaged throughout the event and asked questions about mentorship and career paths.
Accomplished speaker and community role model Dr. Namita Pandey joined as the keynote speaker sharing inspiring words.
Finally, there was a small award ceremony supported by the IDEX Foundation, which celebrated the achievements of current Balikashram girls and Balikashram alumni who have gone on to realize their dreams.
This event was organized by the IDEX Foundation Trustees, the Mumbai Corporate Social Responsibility Committee, and the dedicated volunteers. Their unwavering support was pivotal in making “Project Lakshya” a transformative experience.
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