Dispensing equipment maker Nordson realigns into three business segments
Canadian PlasticsPlastics Processes
The move aims to give the company 'better visibility' into its rapidly expanding medical and electronics platforms.
Dispensing equipment maker Nordson Corp. has made what it calls “a strategic business segment realignment” into three financial reporting segments effective Aug. 1.
The segments of the Westlake, Ohio-based company are Industrial Precision Solutions (IPS) led by Jeffrey A. Pembroke, Medical and Fluid Solutions (MFS) led by Stephen Lovass, and Advanced Technology Solutions (ATS) led by Srinivas (Srini) Subramanian. All three men are executive vice presidents.
“[This] realignment gives us better visibility into our medical and electronics platforms, which have grown significantly through both organic and acquisitive opportunities,” Nordson president and CEO Sundaram Nagarajan said in a July 8 news release. “This new structure reflects the Nordson of today and enhances [our] ability to deliver the Ascend strategy goal of top-tier growth with leading margins and returns.”
The release added that the new MFS segment will include the company’s fluid management solutions for medical, high-tech industrial and other diverse end markets. “Related plastic tubing, balloons, catheters, syringes, cartridges, tips, and fluid connection components are used to dispense or control fluids within customers’ medical devices or products, as well as production processes,” the release said. “This remains one of [our] growth engines both organically and acquisitively. In fiscal 2021, this segment had revenues of approximately US$0.6 billion.”
The ATS segment, meanwhile, will focus on products serving electronics end markets. “ATS products integrate our proprietary technologies found in progressive stages of an electronics customer’s production processes, such as surface treatment, precisely controlled dispensing of material and test and inspection to ensure quality and reliability,” the release said. “Applications include, but are not limited to, semiconductors, printed circuit boards, electronic components, and automotive electronics. In fiscal 2021, this segment had revenues of approximately US$0.5 billion.”
Finally, Nordson said there is no change to the IPS segment, which is focused on delivering proprietary dispensing and processing technology, both standard and highly customized equipment, to diverse end markets. “Product lines for IPS commonly reduce material consumption, increase line efficiency through precision dispense and measurement and control, and enhance product brand and appearance. Components are used for dispensing adhesives, coatings, paint, finishes, sealants and other materials,” the release said. “This business primarily serves the industrial, consumer durables and non-durables markets. In fiscal 2021, IPS had revenues of approximately US$1.2 billion.”