It's just business: Manufacturing moves from Ultion Technologies, H2Ok Innovations, NEO Battery Materials, and more
As manufacturers strive to optimize and improve profitability, they often use various business strategies to stay competitive. These actions include mergers, acquisitions, promotions, layoffs, funding, and much more. Below are just a few of the companies that are making moves and making headlines in the industrial sector.
Merger: Finnish Scanfil and Italian MB Elettronica have agreed to combine operations, creating a major European player in the Electronic Manufacturing Services (EMS) market with 16 factories across four continents. The merger brings Scanfil’s total workforce to over 4,500, with MB’s 500 employees continuing in their current roles and its Cortona headquarters becoming Scanfil’s Aerospace & Defense competence center. In a recent quote, Christophe Sut, CEO of Scanfil, said, “I want to welcome all new employees and customers to the growing Scanfil family. By joining forces, we create a European EMS powerhouse with a strong presence in Italy and Aerospace & Defense. For MB employees, a large company creates new career and personal development opportunities. For MB customers, a larger company means improved service offering with global manufacturing and delivery capabilities.”
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Capital: Ultion Technologies, a U.S.-based manufacturer of lithium iron phosphate (LFP) battery cells and energy storage systems, has closed a Series A funding round led by Torus, with participation from Battle Born Venture and other aligned investors. The funding supports Ultion’s mission to strengthen the U.S. battery supply chain by offering domestically produced, commercially viable LFP batteries as an alternative to foreign imports. In a recent quote, Dr. Johnnie Stoker, CEO and founder of Ultion Technologies, said, “Every battery imported from outside the U.S. is a missed opportunity for American jobs and a vulnerability in our energy security. This funding proves not only that American-made batteries can compete with imported batteries in performance and cost — but that our proven cell technology and deep industry expertise position Ultion to lead America’s growing energy storage market.”
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Acquisition: KDI Precision Manufacturing, a contract manufacturer focused on healthcare products, has acquired Envision Plastics and Design, LLC to expand its plastics manufacturing capabilities and strengthen its turnkey solutions for OEM customers. The combined company will operate two Minnesota facilities and serve approximately 150 national and international OEM clients annually, with leadership continuing under KDI CEO Vitaliy Epshteyn. In a recent quote, Vitaliy Epshteyn, CEO of KDI, said, “We are excited to acquire Envision Plastics and Design as we continue to execute our growth strategy and expand the product portfolio for our great customers. Envision's expertise in custom electronic plastics enclosures is highly complementary to KDI's electro-mechanical assembly, wire harness manufacturing, and CNC machining capabilities. We are equally excited to welcome Envision's talented team and look forward to innovating together as we serve our customers.”
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Capital: H2Ok Innovations, a provider of AI-powered inline sensor technology for manufacturing, has raised $12.42 million in a Series A funding round led by Greycroft, with additional participation from 2048 Ventures and Construct Capital. The funding will accelerate the company’s efforts to scale its technology, which enables faster Clean-in-Place and product changeovers by integrating seamlessly into existing factory systems. In a recent quote, Annie Lu, CEO of H2Ok Innovations, said, “Post-COVID food and beverage manufacturers are besieged by supply chain constraints, rising costs, evolving safety standards, and shifting consumer demands. Our turnkey solution gives manufacturers production time back to address these macro challenges and still drive innovation. We’re excited to bring science-backed proprietary sensors and industry-focused AI that delivers both the sustainability and speed that manufacturers need to thrive in today’s environment.”
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Personnel: NEO Battery Materials Ltd. has appointed Seok Joung Youn as Head of Manufacturing and Facility Operations, bringing four decades of lithium-ion battery manufacturing experience from Samsung SDI and global battery startups. Mr. Youn will lead efforts to scale production of high-quality electrodes and large-format cells, ensuring NEO’s silicon battery materials meet the standards of global battery partners. In a recent quote, Spencer Huh, President & CEO of NEO, said, “We are honoured to welcome Mr. Youn to NEO Battery Materials, and we are excited to build a well-rounded team that covers the full spectrum of battery manufacturing and technology. Mr. Youn retains deep operational experience and a proven ability to lead high-precision, large-scale battery manufacturing, having worked at Samsung and other global companies. His know-how and leadership will further strengthen our execution capabilities as we proceed to the next phase of commercial readiness.”
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