MULINO, OR – Sunstone Circuits® is pleased to announce the promotion of Kevin Beattie to Production Manager. Beattie has an extensive and impressive 25+ year career in printed circuit board manufacturing, having spent time with both Sunstone Circuits and TTM Technologies. He brings valuable experience to the production manager position from process engineering, new process introductions, support of nearly every manufacturing process, and extensive knowledge of Continuous Improvement, ISO, IPC and various other industry requirements. Working with production teams and leading the charge in the name of improvement is what he does well.
"I'm truly honored to lead our team as we ramp up towards higher technology in PCB manufacturing. Together, let's embrace innovation, push boundaries, and create an incredible future in this exciting field." - Kevin Beattie
Matt Stevenson, Vice President of Sales/Marketing and Operations - "Kevin Beattie's outstanding contributions to Sunstone's quality assurance have been invaluable, and I have no doubt that he will excel in his new role as Production Manager. With his extensive knowledge and experience in the PCB industry, combined with his dedication to excellence, Kevin is the ideal candidate to lead our production team to new heights. I look forward to witnessing his continued success and the positive impact he will bring to Sunstone's production processes."
The role of Production Manager is a critical one in any manufacturing organization. This individual is responsible for overseeing the entire production process, from planning and scheduling to execution and delivery. They must ensure that production runs smoothly, efficiently, and within budget, while maintaining high levels of quality and safety standards. The Production Manager is also responsible for managing the production team, providing leadership, training, and support to ensure that employees have the tools and resources they need to perform their jobs effectively. Ultimately, the Production Manager plays a pivotal role in ensuring that the organization's production goals are met, and products are delivered to customers on time and to their satisfaction.
WALTHAM, MA – Nano Dimension Ltd. (Nasdaq: NNDM, “Nano Dimension” or the “Company”), a leading supplier of Additively Manufactured Electronics (“AME”) and multi-dimensional polymer, metal & ceramic Additive Manufacturing (“AM”) 3D printers, announced today that it has sold its DragonFly® IV system to the University of Stuttgart.
Nano Dimension’s most advanced 3D printer for electronics will go to the University’s Institute of Smart Sensors (IIS) and 3rd Institute of Physics (PI3). The two groups are jointly working on the design and the integration of next-generation quantum devices as part of a government sponsored program known as Cluster4Future QSens (“QSens”). The University of Stuttgart groups are working together with 19 industrial partners and three research institutes to spearhead the industrial use of quantum sensors to target a large-scale market entry within the next three to five years.
The DragonFly® IV is a critical innovation enabler in specialty applications for High-Performance-Electronic-Devices (Hi-PEDs®) by simultaneously depositing proprietary conductive and dielectric substances, while integrating in-situ capacitors, antennas, coils, transformers, and electromechanical components. Such Hi-PEDs® are critical enablers for a range of applications, including autonomous intelligent drones, cars, satellites, smartphones, and in vivo medical devices. In addition, these products enable iterative development, IP safety, fast time-to-market, and device performance gains. In the context of quantum technologies, the 3D-electronic-integration capabilities of the Dragonfly® IV will enable entirely new possibilities for the microelectronic and photonic integration of the next generation of scalable quantum devices.
Professor Jens Anders, Institute Director of the IIS at the University of Stuttgart and spokesperson for QSens, shared, “We are excited to bring the DragonFly® IV with its worldwide unique capabilities into our research. The integration of qubits for quantum sensing and quantum computing is high-demanding in nature, requiring innovative, high-precision solutions; therefore, it is not often that we find technology that meets our challenging needs. Engaging with Nano Dimension will help us design and manufacture the next generation of scalable quantum devices, which will revolutionize our society with applications ranging from smart prostheses and smart breath sensors over pharmaceutical research to autonomous driving.”
Yoav Stern, Chairman and Chief Executive Officer of Nano Dimension, added, “We look forward to supporting the University of Stuttgart and their Center of Applied Quantum Technology in their ever-critical work on quantum technology. Furthermore, we are pleased that another customer has come to appreciate the value of AME to drive innovation. This is particularly empowering when the work at-hand is the scalable integration of qubits for quantum sensing and computing. This field is perfect use case for our AME system, DragonFly® IV, which can be used to make specialty electronic devices with the design freedom and shorter innovation cycles of additive manufacturing.”
MARLBOROUGH, MA – DuPont (NYSE: DD) and JetCool Technologies Inc. (JetCool) today announced a collaboration to increase adoption of advanced liquid cooling technology, enabling thermal management for semiconductors, data centers and other high-performance computing applications. Together, DuPont and JetCool will introduce a new sales channel that brings JetCool's advanced cooling solutions to semiconductor companies in Taiwan and Singapore.
As the demand for faster computing increases, chips are getting more powerful – and hotter. Without high-performance thermal management technology, hot spots on chips can lead to packages overheating and system failure. The challenge is even greater today as the electronics industry deploys artificial intelligence (AI) and edge computing applications with increased processing power requirements. As a result, sustainable liquid cooling is becoming a key part of the data center and high-performance computing infrastructure.
To address these growing needs in thermal management, JetCool has introduced microconvective liquid cooling® technology, reducing both capital and operational expenses, enhancing processing speeds, and sustainably enabling higher computing density. This patented technology uses arrays of fluid jets directed at hot spots on the most powerful devices to optimize performance. DuPont and JetCool will collaborate to increase access of this technology by leveraging DuPont’s global team and long-standing customer relationships in the semiconductor materials business.
DuPont’s Semiconductor Technologies business is a global manufacturer of materials for semiconductor fabrication, packaging and assembly, with more than 50 years of industry leadership and close relationships with advanced fabricators and integrators. DuPont’s strategic proximity to customers positions the company to help advance adoption of liquid cooling in semiconductor packaging applications with complex thermal challenges, supporting broader industry initiatives to drive progress in sustainability.
“We are thrilled to join forces with DuPont in order to make our liquid cooling solutions more accessible to the market,” said Bernie Malouin, CEO of JetCool. “Working together allows us to bring advanced thermal management solutions to customers seeking to reduce power consumption and improve performance in their data centers, semiconductor applications and other high-power computing requirements.”
Shashi Gupta, global marketing director, Advanced Packaging Technologies, DuPont, said, “JetCool’s microconvective liquid cooling® technology is an exciting innovation for energy efficient, on-package thermal management with broad benefits. DuPont’s technical experts work closely with customers and advise them on material and process integrations for 2.5/3D package designs. We look forward to sharing JetCool’s technology with customers to enable sustainable thermal management solutions.”
DuPont customers can contact their account representative for more information.
PETACH-TIKVA, ISRAEL – Eltek Ltd. (NASDAQ: ELTK), a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards, announced today that it reached a settlement with its insurance carrier under which the insurance company will pay an additional $2 million to cover costs and damages incurred by Eltek with respect to the fire in its plant in June 2022. The Company previously received an interim payment of $1 million in August 2022.
"We are very satisfied with the agreement which covers all of the damages incurred and our subsequent costs, mainly the purchase of new production equipment, construction costs and the replacement of damaged raw materials," said Eli Yaffe, CEO of Eltek.
WALTHAM, MA – Nano Dimension Ltd. (Nasdaq: NNDM, “Nano Dimension” or the “Company”), a leading supplier of Additively Manufactured Electronics (“AME”) and multi-dimensional polymer, metal & ceramic Additive Manufacturing (“AM”) 3D printers, highlighted today the strength of its leadership team’s vision and experience, which includes eight former CEOs and founders, as well as leaders who have held a combined approximately 30 positions as CEOs, Presidents, General Managers and/or Chairmen over the last 30 years.
The management team represents a deep bench of top-caliber leadership with a long track record of driving value creation through over 80 M&A transactions, further highlighting why Nano Dimension is the right partner for Stratasys Ltd. (Nasdaq: SSYS) (“Stratasys”).
Nano Dimension has the right offer, the right plan, and the right leadership to deliver value to Stratasys shareholders;
Nano’s $18 per share all-cash special tender offer delivers to Stratasys shareholders near-term, GUARANTEED cash value at a compelling premium. The successful completion of the special tender offer would increase Nano Dimension’s beneficial ownership of Stratasys to between 53% and 55% of the outstanding ordinary shares of Stratasys, inclusive of the approximately 14.1% of Stratasys’ outstanding ordinary shares that Nano Dimension currently owns.
Nano’s increased ownership, combined with its plans to replace the majority of Stratasys’ entrenched Board of Directors, provides a clear path to fix Stratasys, by driving improved profitability and preventing the ill-conceived and dilutive transaction with Desktop Metal Inc. (NYSE:DM) (“DM”) that presents significant uncertainty and tremendous risk of depletion of all cash, as both Stratasys and DM continue to lose cash on a quarterly basis.
Nano is confident that its seasoned management team and strong growth strategy will deliver long-term value to Stratasys shareholders.
Nano’s leadership team includes eight former CEOs and founders, as well as leaders who have held approximately 30 positions as CEO, President, General Manager and/or Chairman over the last 30 years. These leaders have extensive management expertise and a proven track record of successfully growing technology companies and driving value creation. Of particular note:
Nano’s Chairman and CEO, Yoav Stern, has built and led over 6 companies, most of them U.S. public companies, some of which he has grown from single-digit million-dollar revenue companies, to companies generating hundreds of millions of dollars in annual revenue through both organic and inorganic growth strategies. In addition, Mr. Stern has also generated exits for investors at a ROI ranging from 2-3 times the initial investment over 1-2 years.
Nano’s President, Zivi Nedivi, has served as the CEO of 5 companies and founder of 2 others, including U.S. and foreign companies, public and private. As CEO of an aviation supply chain company, Mr. Nedivi oversaw revenue growth from $8 million to $300 million in a five-year period, including nine acquisitions. As COO of a medical laser company, Mr. Nedivi managed thousands of employees across five continents.
Nano’s Chief Product Officer & Head of M&A, Hanan Gino, has served as CEO of a multimillion-dollar cybersecurity company and as the head of the commercial divisions of an $800 million electronics optical inspection business. Mr. Gino also brings prodigious experience in robotics, artificial intelligence, and automation.
Nano’s President of Americas, Dale Baker, has led 5 companies, 3 of them public, and oversaw the growth of hundreds of millions of dollars in revenue, in addition to spending many years as a senior executive at General Electric.
The Nano team’s wealth of leadership experience has allowed the Company to maintain innovative and nimble operations, and is poised to drive growth and operational excellence, specifically focusing on Stratasys, as it is expected to become the main business asset of Nano Dimension.
Nano’s management has successfully integrated 6 companies in 18 months and harnessed M&A synergies to drive value and growth in revenue, gross margins, and profits, in addition to organic growth initiatives:
Through seamless integration, Nano’s team of best-in-class executives and managers has consistently unlocked the potential of acquired companies by leveraging its strategic footprint and platform.
Overall, companies acquired by Nano have outgrown and outpaced peers in the Additive Manufacturing Industry.
Nano’s ambitious and focused M&A strategy, combined with strong organic growth, are expected to continue to drive future value creation:
Nano’s management was decisive and forward-thinking, taking advantage of the low cost of capital and strong market appetite to raise $1.5 billion in equity financing and subsequently maintain acquisition discipline, while preserving approximately $1.1 billion of cash, bank deposits, and investment in securities as long as prices of acquisitions in the market were grossly overvalued during 2021-2022.
Nano has the cash firepower to continue to build its business – unlike any of its peers – and is executing on a multi-pronged and synergistic growth strategy buoyed by its strong fundamentals.
Nano continues to see significant opportunities ahead and is ideally positioned to act as a consolidator in the highly fragmented market landscape with numerous attractive potential targets.
Nano’s revenue is expected to continue to increase, having more than tripled from 2020 to 2021, and grown more than 12x in 2022 compared to 2020 – proof of the success of Nano’s “buy and build” platform scaling strategy.
Nano’s differentiated technology offerings are supported by next-generation digital manufacturing and AM technologies. The Company’s fast adoption of groundbreaking Deep Learning and AI technologies led by Nano’s DeepCube division are gradually installed in Nano’s 3D Printing Machines, in addition to seeing strong demand from industrial customers keen to install it in their own machines. Hence, Nano is investing resources to support this business and position it to succeed as a new, standalone division independently generating revenue.
Learn more about Nano Dimension, its strategy and vision, including its special tender offer for Stratasys at www.stratasysvaluenow.com
FONTENAY-AUX-ROSES, FRANCE – ICAPE Group (ISIN code: FR001400A3Q3 - Ticker: ALICA), a global technology distributor of printed circuit boards ("PCB"), today announced the evolution of its governance.
In agreement with the Board of Directors, Cyril Calvignac, ICAPE Group’s Chief Executive Officer, today submitted his resignation from his position as Chief Executive Officer and Board member. Yann Duigou, the Group's current Chief Marketing Officer, will succeed him as Chief Executive Officer. Before pursuing a new professional project, and in the interests of good governance, Cyril Calvignac will continue to support the Group until the end of 2023 to ensure this transition.
Yann Duigou, aged of 61, current Chief Marketing Officer and Board member, brings over thirty years' experience in the electronics and PCB industry. Before joining the ICAPE Group in 2017 as Director in charge of e-commerce, he held various executive positions within the CIRE electronics group. He was notably Factory Director and then Managing Director for ten years, from 2002 to 2012. Yann Duigou is a graduate of the Institut Supérieur de Gestion (ISG Paris).
The Board of Directors warmly thanks Cyril Calvignac for his vision, commitment and action at the service of the Group since 2003, for which he notably led the IPO to a successful conclusion, and wishes him every success in his future projects.
In addition, the Board of Directors decided to strengthen the Group’s Executive Management with the appointment of two new Deputy CEO, namely Arnaud Le Coguic, who becomes Chief Financial Officer of the Group, and Bingling Li Sellam, who replaces Yann Duigou as Chief Marketing Officer. Shora Rokni sees her scope extended as Chief Strategy and M&A Officer. ICAPE Group's Executive Management is thus composed of a Chief Executive Officer, supported by five Deputy CEO.
The Group's Board of Directors also evolved with the appointment by cooptation of Mr. Thomas Chea as Board member, replacing Mr. Calvignac. This appointment will be subject to ratification by the next Annual General Meeting. Arthur Mendes and Bingling Li Sellam also join the Group's Board of Directors as censors for a 3-year term.
Thierry BALLENGHIEN, ICAPE Group’s Founder and Chairman of the Board of Directors, stated: "I would like to offer my warmest thanks to Cyril Calvignac for the commitment he has demonstrated daily since joining our Group. Over the past 20 years, he climbed the Group's ladder by my side, one by one, and supported its structuring at the highest level, with its IPO as a major achievement. Yann has my full confidence to pursue the ambitious objectives we set ourselves within the framework of our IPO, and I am sure that his experience and expertise will be major assets to reinforce our trajectory of strong profitable growth. The experienced management team currently in place, composed of experts in the PCB industry, also has my full confidence to successfully lead the Group's future development."
Yann DUIGOU, ICAPE Group’s Chief Marketing Officer, added: "I am particularly proud of the opportunity given to me today to become Chief Executive Officer, and I would like to warmly thank Thierry Ballenghien for the confidence he placed in me. Thanks to our many assets and the strengthening of our governance, I am convinced that the offensive strategy we are deploying today will consolidate our position as a key player in printed circuit board distribution."
