The Shyft Group Looks To Add New Mid-Michigan Jobs, Improve And Expand Manufacturing Campus, As Demand For Parcel Delivery Vehicles Grows

CHARLOTTE, Mich., Jan. 12, 2021 /PRNewswire/ — The Shyft Group (Nasdaq: SHYF) («Shyft» or the «Company»), North America’s leader in specialty vehicle manufacturing, assembly, and upfit for ecommerce-driven parcel delivery, as well as the broader commercial, retail, and service specialty…

CHARLOTTE, Mich., Jan. 12, 2021 /PRNewswire/ — The Shyft Group (Nasdaq: SHYF) («Shyft» or the «Company»), North America’s leader in specialty vehicle manufacturing, assembly, and upfit for ecommerce-driven parcel delivery, as well as the broader commercial, retail, and service specialty vehicle markets, seeks to hire new manufacturing employees at its Charlotte, Michigan, campus in the coming months as the company continues to receive new vehicle orders and ramps towards production of its all new Velocity F2 walk-in van, which is set to begin delivering to customers in March. Demand for Shyft’s proprietary parcel fleet designs continues to grow based on expanding e-commerce, last mile home delivery.

Shyft is an employer of choice with market competitive pay, benefits from day one, and 80 hours of holiday pay. Shyft is committed to the long-term health, wellness, and development of its employees through full medical, vision and dental insurance, 401(k) with a strong company match, and ongoing training opportunities. Employment opportunities are updated daily at www.TheShyftGroup.com/Careers.

«The Shyft Group has a long-standing history in Charlotte as it has served as our home base for more than 40 years,» said Daryl Adams, President and Chief Executive Officer of The Shyft Group. «Today, we have plants all over the country in which we build last mile delivery vehicles. We choose to reinvest in Charlotte as a declaration of our commitment to our existing campus, this region, and our highly skilled workforce.»

As part of this expansion, Shyft is pursuing State incentives for facility upgrades and workforce training, as they ramp up production and hire accordingly. Shyft credits State Rep. Angela Witwer and Sen. Tom Barrett for partnering to find solutions to keep these new jobs in-state. Additionally, the Company praises the ongoing efforts of the Lansing Economic Area Partnership for its support and multitude of contributions to the growth of its Charlotte campus.

«Our Utilimaster brand continues to see unprecedented growth as the retail landscape shifts online and purchases now more than ever arrive at home,» said Chad Heminover, President, Shyft Fleet Vehicles & Services. «We’ve built a network of flexible manufacturing facilities across the nation that uniquely position us to meet changing customer demands by building virtually any of our vehicles from any of our plants. Our Velocity F2 walk-in van is a great example of this as it has already seen incredible adoption since its introduction just three months ago. We’ll tap into our flexible manufacturing footprint as it is designed, and leverage the Charlotte campus and growing workforce to successfully meet this new demand.»

Utilimaster introduced the Velocity F2 in October, its latest production-ready, purpose-built delivery vehicle. This sub-10,000 GVWR, Class 2 walk-in van combines nimbleness, comfort, and fuel efficiency with the cargo space, access, and load capacity similar to a traditional delivery van.

Utilimaster, a go-to-market brand of The Shyft Group, builds and upfits walk-in vans, medium and heavy-duty trucks, and cargo vans to service parcel, food and beverage, linen and laundry, and other product and serviced-based delivery markets through its proprietary Work-Driven Design® process. This past June, the broader company rebranded to The Shyft Group, to better reflect its next phase of business transformation and focus on high-growth commercial, retail, and service specialty vehicle markets, following the divestiture of its fire truck business.

The Shyft Group
The Shyft Group is the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets. Our customers include first-to-last mile delivery companies across vocations, federal, state, and local government entities; the trades; and utility and infrastructure segments. The Shyft Group is organized into two core business units: Shyft Fleet Vehicles & Services and Shyft Specialty Vehicles. Today, its family of brands include Utilimaster, Royal Truck Body, DuraMag and Magnum, Strobes-R-Us, Spartan RV Chassis, Builtmore Contract Manufacturing, and corresponding aftermarket provisions. The Shyft Group and its go-to-market brands are well known in their respective industries for quality, durability, and first-to-market innovation. The Company employs approximately 2,900 associates across campuses, and operates facilities in Michigan, Indiana, Maine, Pennsylvania, South Carolina, Florida, Missouri, California, Arizona, Texas, and Saltillo, Mexico. The Company reported sales from continuing operations of $757 million in 2019. Learn more about The Shyft Group at www.TheShyftGroup.com.

 

CONTACT:
Media:
Samara Hamilton
Vice President, Marketing and Communications
The Shyft Group
Samara.Hamilton@theshyftgroup.com
(517) 997-3860

Sawyer Lipari
Senior Director
Lambert & Co.
slipari@lambert.com
313.309.9551

Investors:
Juris Pagrabs
Group Treasurer, Director of Investor Relations
The Shyft Group
Juris.Pagrabs@theshyftgroup.com
(517) 997-3862

 

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SOURCE The Shyft Group

Automotive Ambient Lighting Market worth $4.9 billion by 2025 – Exclusive Report by MarketsandMarkets™

CHICAGO, Jan. 12, 2021 /PRNewswire/ — According to the new market research report «Automotive Ambient Lighting Market by Electric & Hybrid (BEV, HEV, PHEV), Application (Footwell, Door, Dashboard, Center Console), Passenger Car (C, D, E, and F), Aftermarket (Country and…

CHICAGO, Jan. 12, 2021 /PRNewswire/ — According to the new market research report «Automotive Ambient Lighting Market by Electric & Hybrid (BEV, HEV, PHEV), Application (Footwell, Door, Dashboard, Center Console), Passenger Car (C, D, E, and F), Aftermarket (Country and Application (Interior and Exterior)) – Global Forecast to 2025″, published by MarketsandMarkets™, the Automotive Ambient Lighting Market is estimated to grow at a CAGR of 9.9% from 2020 to 2025. It is projected to reach USD 4.9 billion by 2025 from an estimated USD 3.0 billion in 2020. The Ambient Lighting Market for Automotive is driven by the increasing vehicle production, rising installation rate of ambient lighting, and growing demand for luxury vehicles. The improving global economic conditions have changed the overall lifestyle of consumers. With increasing disposable income, their demands have changed in line with new lifestyles, leading to a change in their preferences. This has positively affected the sales of ultra-luxurious cars across the globe. The global production of premium vehicles decreased due to COVID-19 pandemic, US- China trade-off and the ongoing slump in the automotive sector affecting the overall ambient lighting market as well. In addition, the ongoing pandemic COVID-19 has had a significant impact on the market, especially for the year 2020. Thus, the demand for automotive ambient lighting gain pace from 2021, with recovery in vehicle production.

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Browse and in-depth TOC on «Automotive Ambient Lighting Market»

194 – Tables
67 – Figures
194 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id= 233551790  

Centre Console ambient lighting market to witness the highest growth

The study segments the Ambient Lighting Market for Automotive by application into the dashboard, doors, footwell, center console, and others. Of all these applications, the centre console lighting market is estimated to grow at the highest CAGR during the forecast period. With the increasing installation of ambient lighting along with the emphasis on luxury and comfort, the market for centre console ambient lighting is expected to grow at a fast pace.

C segment vehicles to be the largest segment of Ambient Lighting Market for Automotive

The study segments the Ambient Lighting Market for Automotive, by vehicle segment, into C segment, D segment, E segment, and F segment. C segment cars are estimated to be the largest market for ambient lighting during the forecast period. The market growth of this vehicle segment can be attributed to the increasing production of passenger cars and increasing installation rate of ambient lighting in the low and mid-segment cars.

Request FREE Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id= 233551790  

Asia Oceania to be the largest Ambient Lighting Market for Automotive

Asia Oceania is considered as a production hub for the automotive industry, particularly for low and mid-segment cars. The region has created several opportunities for the ambient lighting manufacturers as well as suppliers. However, in a country like the US, there is a high demand for luxury cars that are equipped with ambient lighting. Moreover, the increase in the purchasing power of the population has driven the demand for Ambient Lighting Market for Automotive.

The major companies in the Ambient Lighting Market for Automotive are profiled in the study. These include HELLA KGaA Hueck & Co. (Germany), OSRAM Licht AG (Germany), Grupo Antolin (Spain), Federal-Mogul LLC (US), Koito Manufacturing Co., Ltd. (Japan), GENERAL ELECTRIC (US), Valeo S.A.  (France), and Stanley Electric Co., Ltd. (Japan)

Browse Related Reports:

Automotive Lighting Market for ICE & EV by Technology (Halogen, LED, Xenon/HID), Position & Application (Head, Side, Tail, Fog, DRL, CHMSL, Dashboard, Glovebox, Reading, Dome, Rear View Mirror), Adaptive Lighting and Region – Global Forecast to 2025

Automotive Wiring Harness Market by Application (Engine, Chassis, Cabin, Body & Lighting, HVAC, Battery, Seat, Sunroof, Door), Transmission Type (Data & Electrical), Category, ICE & Electric Vehicle, Component, Material, and Region – Global Forecast to 2027

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the «Growth Engagement Model – GEM». The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write «Attack, avoid and defend» strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, «Knowledge Store» connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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SOURCE MarketsandMarkets

United States $3.6 Billion Automotive Wrap Films Market Analysis and Segment Forecasts to 2027

DUBLIN, Jan. 12, 2021 /PRNewswire/ — The «U.S. Automotive Wrap Films Market Size, Share & Trends Analysis Report by Application (Heavy Duty Vehicles, Medium Duty Vehicles, Light Duty Vehicles), and Segment Forecasts, 2020-2027» report has been added to ResearchAndMarkets.com’s offering.

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The U.S. automotive wrap films market size is anticipated to reach USD 3.6 billion by 2027.

The market is expected to expand at a CAGR of 17.4% from 2020 to 2027. Growing trend of company spending on automobile advertising and offering sponsorships to automotive race team in order to increase the visibility of the company is expected to drive the market.

Companies operating in consumer goods, food and beverages, electrical and electronics, tourism, and various other industries are using vehicle wrap films for advertising and showcasing their product offerings. Companies operating in these industries hire vehicles from fleet owners and use customized vehicle graphics with company names and logos imprinted on them.

Additionally, the films are a cost-effective solution, which maintains the original paint job and provides a high resale value for the vehicles. The minimum service life for good quality vehicle graphics ranges from 5 to 6 years. Rising trend of hydro dipping poses a challenge in the growth of the market.

The films offer the flexibility to get the vehicle fully wrapped or semi-wrapped depending upon the requirement. These wraps can be a bit expensive than paint in the case of complex designs. However, with high quality, the overall return on investment in the case of vehicle wrapping is high as compared to vehicle paint. Automotive graphics are a cost-effective option when the paint cost is expected to be very high.

For example, in the case of racing cars, as these cars often require quick color and design changes depending upon their sponsors, company, and branding. The low cost of wraps as compared to vehicle paints makes it suitable for these applications, which, in turn, is anticipated to increase the demand over the forecast period.

U.S. Automotive Wrap Films Market Report Highlights

  • The market is anticipated to reach USD 3.6 billion by 2027 and is estimated to witness a CAGR of 17.4% from 2020 to 2027.
  • The light duty vehicles application segment accounted for 52.7% of the overall revenue share in 2019. This high share is attributed to rising trend of consumer spending on personalized customization in their vehicles, which majorly constitutes light weight vehicles.
  • The growing demand for hydro dipping poses a challenge in the growth of the market as hydro dipping is relatively easy and cost-effective solution for customization.

Key Topics Covered:

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.4. Information Analysis
1.5. Market Formulation & Data Visualization

Chapter 2. Executive Summary
2.1. Market summary
2.2. Segmental Outlook

Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage Outlook
3.1.1. Global Plastic Films Market
3.1.2. Global Automotive Wrap Films Market Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Raw Material Trends
3.3.2. Manufacturing Trends
3.4. Technology Overview
3.5. Regulatory Framework
3.6. Market Dynamics
3.6.1. Market Driver Analysis
3.6.2. Market Restraint Analysis
3.7. Business Environment Analysis: U.S. automotive wrap films Market
3.7.1. Industry Analysis – Porter’s
3.7.2. PESTEL Analysis

Chapter 4. U.S. Automotive Wrap Films Market: Application Estimates & Trend Analysis
4.1. Application movement analysis & market share, 2019 & 2027
4.2. Heavy Duty Vehicles
4.3. Medium Duty Vehicles
4.4. Light Duty Vehicles

Chapter 5. Competitive Landscape
5.1. Key Players & Recent Developments & Their Impact on The Industry
5.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
5.3. Vendor Landscape
5.3.1. List of key Distributors and Channel Partners
5.3.2. Key Potential Customers
5.4. Public Companies
5.4.1. Competitive Dashboard Analysis
5.5. Private Companies
5.5.1. List of Key Emerging Companies/Technology Disruptors/Innovators

Chapter 6. Company Profiles
6.1. Company Overview
6.2. Financial Performance
6.3. Type Benchmarking
6.4. Strategic Initiatives

  • Avery Dennison Corporation
  • Arlon Graphics, LLC
  • 3M
  • JMR Graphics Inc.
  • ORAFOL Europe GmbH
  • VVIVID Vinyls
  • HEXIS S.A.
  • RITRAMA S.p.A.

For more information about this report visit https://www.researchandmarkets.com/r/kvc17q

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

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SOURCE Research and Markets

AMCS is the first software company in the waste management and recycling sector to obtain SOC 1 Type II accreditation

BOSTON, Jan. 12, 2021 /PRNewswire/ — AMCS, the leading global supplier of integrated software and vehicle technology for the waste, recycling and resource industries, announced today that it has attained SOC I Type II compliance. The accreditation highlights that AMCS operates best practice controls and procedures in ensuring a…

BOSTON, Jan. 12, 2021 /PRNewswire/ — AMCS, the leading global supplier of integrated software and vehicle technology for the waste, recycling and resource industries, announced today that it has attained SOC I Type II compliance. The accreditation highlights that AMCS operates best practice controls and procedures in ensuring a customer-centric approach to operations.

SOC 1 Type II report is an internationally recognized standard that examines internal business controls. The audit is focused on controls which are intended to meet the needs of the management and auditors of AMCS’ customers.

The report, independently audited by a significant global accountancy network, validates the suitability of the design and operating effectiveness of AMCS’ controls. The resulting clean report covered 38 controls across seven key process areas – New Project Delivery, Initial Processing, Customer Support, Data Backup, Logical Access, Product Development and Change Management.

«As a business, AMCS has always focused on delivering the best service for our customers,» said Leonard Dolan, director of business processes and systems at AMCS Group. «This includes providing them with assurances that we have all appropriate internal controls and systems in place. Building trust among our customers and stakeholders is more than just good business practice, it is absolutely integral to our continued success. AMCS is a leader in our industry and we are proud to be the first software company in our sector to obtain the SOC I Type II accreditation.

«The accreditation focuses on specific customers, and we would encourage our existing and potential customers to work with us in obtaining this additional assurance for their specific business. AMCS is currently in the process of obtaining SOC 2 Type II, which will evaluate controls relevant to security, availability, processing integrity, confidentiality and privacy.  We plan to obtain this in Q2 2021.»

For organizations to succeed, they need to be trusted. Customers and, indeed, stakeholders want to work with businesses that are reliable and provide them with the assurance that they are in safe hands. AMCS is committed to investing in retaining this standard.

For more information, please visit: www.amcsgroup.com

About AMCS

AMCS is headquartered in Castletroy, Co Limerick, Ireland. With offices in North America, Europe and Australia, AMCS is a global leader of integrated software and vehicle technology for the waste, recycling and resource industries. AMCS delivers enterprise cloud-based software solutions for the waste and recycling industry worldwide supporting 2,750 customers in 22 countries. The company continues to grow operations globally and today employs 550+ people across 11 countries.

About SOC

SOC is an internationally recognized audit report specifically intended to meet the needs of the management and auditors of a company’s customers. A SOC 1 report is specifically for service organizations that impact or may impact their clients’ financial reporting.  Type II report has an audit period and provides evidence of how an organization operated its controls over that period of time. It includes the design and testing of controls to report on the operational effectiveness of controls over a period of time (minimum six months). The report is independently audited, and the successful accreditation provides evidence to customers that robust and reliable controls are in place and operating effectively. 

MEDIA CONTACT:
Heather Ripley
Ripley PR
(865) 977-1973
hripley@ripleypr.com

 

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SOURCE AMCS

AMCS is the first software company in the waste management and recycling sector to obtain SOC 1 Type II accreditation

BOSTON, Jan. 12, 2021 /PRNewswire/ — AMCS, the leading global supplier of integrated software and vehicle technology for the waste, recycling and resource industries, announced today that it has attained SOC I Type II compliance. The accreditation highlights that AMCS operates best practice controls and procedures in ensuring a…

BOSTON, Jan. 12, 2021 /PRNewswire/ — AMCS, the leading global supplier of integrated software and vehicle technology for the waste, recycling and resource industries, announced today that it has attained SOC I Type II compliance. The accreditation highlights that AMCS operates best practice controls and procedures in ensuring a customer-centric approach to operations.

SOC 1 Type II report is an internationally recognized standard that examines internal business controls. The audit is focused on controls which are intended to meet the needs of the management and auditors of AMCS’ customers.

The report, independently audited by a significant global accountancy network, validates the suitability of the design and operating effectiveness of AMCS’ controls. The resulting clean report covered 38 controls across seven key process areas – New Project Delivery, Initial Processing, Customer Support, Data Backup, Logical Access, Product Development and Change Management.

«As a business, AMCS has always focused on delivering the best service for our customers,» said Leonard Dolan, director of business processes and systems at AMCS Group. «This includes providing them with assurances that we have all appropriate internal controls and systems in place. Building trust among our customers and stakeholders is more than just good business practice, it is absolutely integral to our continued success. AMCS is a leader in our industry and we are proud to be the first software company in our sector to obtain the SOC I Type II accreditation.

«The accreditation focuses on specific customers, and we would encourage our existing and potential customers to work with us in obtaining this additional assurance for their specific business. AMCS is currently in the process of obtaining SOC 2 Type II, which will evaluate controls relevant to security, availability, processing integrity, confidentiality and privacy.  We plan to obtain this in Q2 2021.»

For organizations to succeed, they need to be trusted. Customers and, indeed, stakeholders want to work with businesses that are reliable and provide them with the assurance that they are in safe hands. AMCS is committed to investing in retaining this standard.

For more information, please visit: www.amcsgroup.com

About AMCS

AMCS is headquartered in Castletroy, Co Limerick, Ireland. With offices in North America, Europe and Australia, AMCS is a global leader of integrated software and vehicle technology for the waste, recycling and resource industries. AMCS delivers enterprise cloud-based software solutions for the waste and recycling industry worldwide supporting 2,750 customers in 22 countries. The company continues to grow operations globally and today employs 550+ people across 11 countries.

About SOC

SOC is an internationally recognized audit report specifically intended to meet the needs of the management and auditors of a company’s customers. A SOC 1 report is specifically for service organizations that impact or may impact their clients’ financial reporting.  Type II report has an audit period and provides evidence of how an organization operated its controls over that period of time. It includes the design and testing of controls to report on the operational effectiveness of controls over a period of time (minimum six months). The report is independently audited, and the successful accreditation provides evidence to customers that robust and reliable controls are in place and operating effectively. 

MEDIA CONTACT:
Heather Ripley
Ripley PR
(865) 977-1973
hripley@ripleypr.com

 

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SOURCE AMCS

Bob Coates Joins Jain Irrigation, Inc. as Director of Technology Product Management

FRESNO, Calif., Jan. 12, 2021 /PRNewswire-PRWeb/ — Jain Irrigation, Inc. announced Bob Coates’ appointment to the position of Director of Technology Product Management. As Director of Technology Product Management, Bob will focus on working with our technical, sales, and marketing teams to establish product strategies and future direction for both hardware and software, ensuring a focus on easy-to-use products and comprehensive solutions that deliver the most crop per…

FRESNO, Calif., Jan. 12, 2021 /PRNewswire-PRWeb/ — Jain Irrigation, Inc. announced Bob Coates’ appointment to the position of Director of Technology Product Management. As Director of Technology Product Management, Bob will focus on working with our technical, sales, and marketing teams to establish product strategies and future direction for both hardware and software, ensuring a focus on easy-to-use products and comprehensive solutions that deliver the most crop per drop for our growers. He will work across and with all of our irrigation companies.

Bob has over 15 years of experience in Ag Technology, focusing on Product Development and Engineering. He spent the last 3+ years at WaterBit as a Product Director and a Principal Design Engineer. Bob was instrumental in driving the technical direction for WaterBit’s microblock irrigation and ranch automation products in these roles.

Before WaterBit, Bob co-founded SenseTerra, a startup developing low-cost technology for outdoor wireless monitoring and control. Bob also spent 14 years with UC Davis as an engineer developing solutions for precision irrigation, fertigation, and soil fumigation in agriculture.

Aric Olson, President of Jain Irrigation, Inc., comments, «Bob Coates has expert-level knowledge of precision agriculture and specifically in the remote irrigation control and monitoring space. He is a great addition to our team of technology experts, and we look forward to his contributions to growing our agriculture and irrigation technology leadership.»

Bob earned a B.S. and M.S. in Biological and Agricultural Engineering from the University of California, Davis.

Jain is a fully integrated global agriculture company and recognized by Harvard Business to be one of five global sustainability champions. Jain offers a full complement of irrigation equipment, from pump automation and irrigation system monitoring to irrigation tubing, fittings, and drip emitters. They also provide personalized water management services to help growers understand and derive maximum value from their automation investment. Jain leads crop science research globally across a variety of food crops and is staffed with some of the world’s leading agricultural research scientists. They research, educate, advance, manufacture, finance, propagate plants, and purchase produce for processing, all to fulfill the Jain mission:

«Leave This World Better Than You Found It»

Media Contact

Richard Restuccia, Jain Irrigation, +1 858 952-6038, Rrestuccia@jainsusa.com

Twitter

 

SOURCE Jain Irrigation

Noodoe Takes Charge Of Worldwide EV Surge – Recent Collaboration With Audi Taiwan Highlights Accelerating Demand for Noodoe EV OS

IRVINE, Calif., Jan. 12, 2021 /PRNewswire-PRWeb/ — Noodoe, a global leader in EV charging technology, recently collaborated with Audi Taiwan in Asia to help bring EV charging solutions to their growing customer base. Demand for EV technology continues to grow in the US and the rest of the world in spite of the ongoing COVID-19 pandemic and other economic stresses.

«Many automakers around the world are putting Noodoe EV technology at the center of their support…

IRVINE, Calif., Jan. 12, 2021 /PRNewswire-PRWeb/ — Noodoe, a global leader in EV charging technology, recently collaborated with Audi Taiwan in Asia to help bring EV charging solutions to their growing customer base. Demand for EV technology continues to grow in the US and the rest of the world in spite of the ongoing COVID-19 pandemic and other economic stresses.

«Many automakers around the world are putting Noodoe EV technology at the center of their support infrastructure,» says Noodoe CEO Jennifer Chang. «Our Noodoe EV OS network platform, along with our Noodoe EV chargers, empower network builders with ‘extreme automation,’ enabling operators the lowest possible operating costs while making everyone’s transition to electric easy.»

EV growth and the related demand for charging stations worldwide continues unabated. According to the International Energy Agency’s (IEA) Global EV Outlook 2020, the world is entering «the decade of electric drive.» While sales of internal combustion cars the past two years have remained sluggish, EV sales experienced another banner year with 2.1 million electric vehicles sold. In the US and around the world, global electric car stock has skyrocketed every year since 2010.

As technological progress in the electrification of two/three-wheelers, buses and trucks advance and the market for them grows, so does the need for EV charging technology as advanced as the vehicles. «Noodoe EV OS fully automates everything – 24/7 charging service delivery, automatic peak-hour price adjustment, automatic transaction billing, auto payment processing, auto bank transfers, infrastructure diagnostics and intelligent energy management,» says Chang. «Operators can generate revenues automatically and continuously. The infrastructure for electric-vehicle charging continues to expand. In 2019, there were about 7.3 million chargers worldwide, mostly slow chargers. With the introduction of Level 2 and 3 DC fast-chargers, we expect consumer adoption of electric vehicles to boom.»

About Noodoe Inc.

To accelerate the world’s transition to electric vehicles, Noodoe provides the mission-critical network operating system, Noodoe EV OS, that runs the EV charging networks for their operators.

Noodoe EV OS is one of the most advanced cloud-based operating platforms today; it is a charging network’s «central brain» that runs all the charging stations across multiple locations and automates the entire operation of the EV charging network.

What makes Noodoe EV OS different is the core technology that empowers «extreme automation», which enables the operators to achieve the lowest possible operating cost. Controlling and running all EV charging stations, Noodoe EV OS fully automates everything – 24/7 charging service delivery, automatic peak-hour price adjustment, automatic transaction billing, automatic payment processing, automatic bank transfer, automatic infrastructure diagnostics, and intelligent energy management. It’s so automated that the network operators practically can generate revenue automatically and continuously.

Noodoe provides products and services that are used in 110 countries worldwide.

More about Noodoe EV OS:
youtu.be/mUNq4Umy64U

More about Noodoe Inc.:
noodoe.com

Media Contact

Steve Fisher, Noodoe, 8186881502, rpgpublicity@gmail.com

 

SOURCE Noodoe

US Private Equity Activity Rebounded to Healthy Levels in 2020 Despite COVID-19 Headwinds

SEATTLE, Jan. 12, 2021 /PRNewswire/ — PitchBook, the premier data provider for the private and public equity markets, today released its <a target="_blank"…

SEATTLE, Jan. 12, 2021 /PRNewswire/ — PitchBook, the premier data provider for the private and public equity markets, today released its 2020 Annual US PE Breakdown Report, which found that private equity (PE) dealmaking bounced back during the latter half of 2020 to finish the year on a high note despite a tumultuous March and April due to the COVID-19 pandemic. When traditional leveraged buyout activity for platforms effectively froze, sponsors quickly pivoted to put capital to work in add-ons, minority transactions, and into public companies. Exit activity followed a similar trajectory but fell even more during the crisis only to rebound more strongly, with exit value ending up year-over-year. As portfolio company marks tumbled, PE firms invested additional capital into their holdings and pushed out exit timeframes but a roaring public equitites market compelled PE firms to publicly list many gargantuan portfolio companies. Fundraising remained steadier than deals and exits between quarters but saw a more sizable drop year-over-year. Early pandemic-related difficulties, such as performing due diligence via videoconferencing, delayed many fundraising efforts. However, the largest and more established PE firms thrived as limited partners (LPs) reupped with existing relationships.

To download the full report and underlying data, click here.

«2020 was a rollercoaster of a year across the board but the private equity ecosystem proved resilient. Heading into 2021, dealmaking appears poised to continue its blistering pace seen during the back half of 2020 before normalizing in the later parts 2021,» said Wylie Fernyhough, senior analyst and PE team lead at PitchBook. «US PE firms are sitting on more than half a trillion dollars in dry powder and are antsy to put this capital to work as the American economy continues to recover. Buyouts in technology and healthcare will likely remain popular as will growth equity investments.»

Investment Activity

  • US PE investment activity totaled $708.4 billion across 5,309 deals by year-end 2020, year-over-year dips of 7.3% and 3.4% respectively. This marks the first year since 2009 that both dealmaking value and count diminished.
  • Growth equity was a standout performer in 2020, investing the highest deal value on record at $62.5 billion, up 8.8% from 2019. The largest growth equity deal in 2020 was a $3.5 billion investment by Harvest Partners, TA Associates and GI Partners into real estate and investment management SaaS company, MRI Software.
  • Add-ons also propelled deal activity in 2020, accounting for 72.5% of all buyouts, eclipsing 2019’s record to reach an all-time high. Although carveouts contributed less than a tenth of the overall deal count, several notable transactions were carved out from larger companies. DXC Technologies sold its state and local health and human services business to Veritas for $5.0 billion in 2020’s largest such deal.
  • Software has been a refuge for investors during the COVID-19 pandemic, as stay-at-home orders accelerated adoption of digital entertainment, ecommerce, education, and healthcare technologies and as companies continued to invest in productivity tools for their now primarily remote workforces.

Exit Activity

  • PE-backed exit value fared better than expected in 2020, reaching a combined $378.3 billion across 952 exits – a 6% increase in value and 14% decrease in count year-over-year.
  • Public listings were the preferred route for the largest exits in 2020 with eight of the 10 largest exits being public listings. A few of the largest public listings in 2020 include Dun & Bradstreet  at a $7.3 billion pre-money valuation, Sotera Health at a $5.3 billion billion pre-money valuation and Pharmaceutical Product Development which went public at a $7.5 billion pre-money valuation.
  • Roaring public equity markets made 2020 the year of the special purpose acquisition company (SPAC), as these blank check companies raised more capital than in the previous decade combined, with well over 250 SPACs launched on US markets last year. Over the next few years, SPACs raised in 2020 may purchase PE-backed companies, providing another exit route going forward and potentially boosting future exit values.
  • Despite public listings and SPACs having a banner year, the pandemic sent sponsor-to-sponsor exits off a cliff in 2020 totaling approximately half the value of 2019 and dropping to 33.6% of overall PE exit value, even as the median sponsor-to-sponsor exit size continued climb.

Fundraising Activity

  • US PE fundraising dipped in 2020, with firms closing on 231 funds for a total of $203.2 billion – year-over-year declines of 38.4% and 36.6%, respectively. While fundraising was down, in part due to both a lack of mega-funds and virus-related issues, US PE firms still closed on a healthy amount of capital.
  • Most of the PE funds raised during the year had been planned pre-pandemic, and LPs re-up with established managers rather than risk placing capital with lesser-known entities. Similar to 2019, $5 billion+ vehicles amassed approximately half of the capital raised in 2020, but just 10 of these funds closed.
  • First-time funds faced an uphill fundraising battle in 2020, with first-time managers raising 25 funds totaling $5.7 billion – representing the lowest fundraising numbers since 2013. These funds accounted for approximately 10% of funds raised, a figure proportionate to the preceding five years, suggesting that LPs’ strong appetites for developing relationships with the top-performing managers of tomorrow has not waned.
  • With regards to mega-funds, one of the most noteworthy massive funds closure belonged to software-focused buyout shop Thoma Bravo, securing a combined $22.8 billion across three separate funds – $17.8 billion in its flagship Thoma Bravo Fund XIV, $3.9 billion in its Discover Fund III and $1.1 billion in its Explore Fund tallied $1.1 billion.

Additional coverage in this report includes:

  • Introduction
  • Overview
  • Deals by size and sector
  • Q&A: Grant Thornton
  • Spotlight: 2021 PE outlooks
  • Exits
  • Fundraising

For more information about PitchBook, click here.

About PitchBook

PitchBook is a financial data and software company that provides transparency into the capital markets to help professionals discover and execute opportunities with confidence and efficiency. PitchBook collects and analyzes detailed data on the entire venture capital, private equity and M&A landscape—including public and private companies, investors, funds, investments, exits and people. The company’s data and analysis are available through the PitchBook Platform, industry news and in-depth reports. Founded in 2007, PitchBook has offices in Seattle, San Francisco, New York and London and serves more than 45,000 professionals around the world. In 2016, Morningstar acquired PitchBook, which now operates as an independent subsidiary.

 

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SOURCE PitchBook

2021 Lexus LC 500 Inspiration Series: Performance Luxury Takes Flight

PLANO, Texas, Jan. 12, 2021 /PRNewswire/ — The Lexus LC 500 needs no formal introduction. It greets all encounters with a growl from its powerful 471-horsepower naturally aspirated V8 engine. Its artfully chiseled lines and refined curvature marry luxury and performance in a way that only Lexus can. The new 2021 LC 500 Inspiration Series takes the grand-touring coupe to the next level with an aviation-inspired design that will land in dealerships later this winter.

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PLANO, Texas, Jan. 12, 2021 /PRNewswire/ — The Lexus LC 500 needs no formal introduction. It greets all encounters with a growl from its powerful 471-horsepower naturally aspirated V8 engine. Its artfully chiseled lines and refined curvature marry luxury and performance in a way that only Lexus can. The new 2021 LC 500 Inspiration Series takes the grand-touring coupe to the next level with an aviation-inspired design that will land in dealerships later this winter.

Inspiration Takes Flight
The new LC 500 Inspiration Series, the fifth on the LC platform, takes cue from a partnership between air race pilot Yoshihide Muroya and Lexus engineers. The Lexus team worked on ways to create efficiencies for Muroya’s aircraft for everything from the grip design of the control column to maximizing aerodynamics efficiencies using testing data learned on Lexus automobiles. The partnership ultimately assisted Muroya on his path to winning the 2017 Red Bull Air Race World Championships.

With some of the same engineers who built the Lexus LFA supercar on board, Lexus took a unique approach to the aerodynamic efficiencies of Muroya’s airplane by turning a preconceived concept on its head – literally. They found that taking an airplane wing and flipping it upside down created vortices that improved maneuverability and efficiency at the wingtips. After the team was able to prove their theory on Muroya’s aircraft through testing and competition success, the Lexus team then aimed to employ that knowledge onto the LC by creating an automotive wing prototype built from aluminum. The team knew the final version, which would span nearly six feet in width, would need to be light, durable and warp resistant. Carbon-fiber, the same material employed on Muroya’s aircraft, seemed like the appropriate material. Yet creating a carbon-fiber wing that large, much of which would be done by hand, would be a great challenge – but it’s one the engineers took head-on.

In the end, the engineering team created an exquisite carbon-fiber reinforced plastic (CFRP) spoiler that meets the demanding production quality expected of Lexus vehicles. The wing serves as the defining attribute of the new LC Inspiration Series, following the trailing edge arc of the trunk and uniquely defined with two downturned winglets on either end. The winglets, of course, are fully functional and create a vertical vortex that helps smooth out the turbulence generated from airflow along the car’s flanks.

Limited Engagement
The 2021 LC 500 Inspiration Series certainly has an interesting backstory, but its aerial inspiration is only part of the narrative. With only 100 units available, the latest Inspiration Series is a limited edition of the highest order.

Standing apart from the standard LC 500, a magnificent vehicle in its own right, the 2021 Inspiration Series is accented with a combination of features not found on any other LC package. The limited-edition vehicle is offered in one exterior color, the superbly dark Obsidian, which is paired with bold and beautiful 21-inch black forged-alloy wheels that fill out the wheel wells. An eye-catching carbon-fiber reinforced plastic (CFRP) roof is standard, and it proves to be the perfect complement to the carbon-fiber rear air wing spoiler.

The LC 500 Inspiration Series also gains some additional enhancements in driving performance thanks to the Torsen limited slip differential. The high-capacity torque-sensing limited-slip rear differential efficiently distributes engine power to the rear axle, helping to optimize traction, handling and control in a variety of conditions. The standard Yamaha rear performance rod with damper, an available option on other LC models, provides added rigidity to the suspension package.

Stepping inside, the serialized badge on the center console immediately identifies the limited nature of the vehicle and its sequence of the 100 produced. The cabin is adorned with black Alcantara-trimmed sport seats that feature elegant Saddle Tan accents and seat belts. The steering wheel and shift lever are also accented in black Alcantara trim. A carbon-fiber scuff plate accents the door, and once inside driver and passengers can bask in the sound of the standard Mark Levinson 13-speaker 915-watt Reference Surround Sound Audio system.

The LC Inspiration Series also comes standard with a large color Head-Up Display (HUD) that projects a range of information onto the bottom of the windshield glass. Relevant information can be displayed to the driver without taking their focus from the road such as: road speed, gear, engine speed; turn-by-turn directions; Dynamic Radar Cruise Control status; Pre-Collision System; Lane Keep Assist/Lane Departure Alert; master warning indicator; information icons; clearance sonar.

Standard on the Inspiration Series is the SmartAccess Card Key, which operates all of the same SmartAccess systems as a key fob without the manual button operation. Users can simply place the Card Key on their person and use the SmartAccess system to unlock/lock the doors by grasping the outside door handle and start the vehicle once inside. Each SmartAccess Card Key also comes equipped with a backup mechanical key to unlock the doors in the event the battery is depleted.

Key Evolutions for 2021
The LC 500 Inspiration Series benefits from the same updates to the standard LC 500 for 2021. Lexus engineers were able to trim 22 pounds of unsprung weight from the vehicle, which is highlighted by the use of aluminum lower suspension arms, lighter suspension stabilizers with a hollow design and revised diameter, new high-strength coil spring material, and lighter 21-inch rear wheels.

With unsprung weight reduced, the LC’s suspension was refined to provide a smoother, softer stroke for an enhanced connection to the road. This was accomplished with adjustments to the electronic absorber controls of the front suspension to increase the length of the stroke. Engineers then optimized the bound stopper rigidity to help create a smoother overall suspension stroke. Rear stabilizer rigidity was enhanced to aid front turn-in ability to provide more linear steering input.

Vehicle control at mid- to high-speed ranges are enhanced thanks to the 2021 LC’s Vehicle Stability Control (VSC) system gaining Active Cornering Assist (ACA). This system helps with cornering by providing brake control to the inner wheels based on G-force and lateral acceleration demands during spirited driving.

High Performance
Upon startup, thundering through the variable Active Exhaust, the 5.0-liter naturally aspirated V8 issues a full-throated engine note as a call to driving enthusiasts. The LC 500 has an output of 471 hp and 398 lb.-ft. of peak torque. The LC is also capable of delivering a 0-to-60 mph time of 4.4 seconds and has an EPA estimated 25 mpg rating on the highway. 

Other key enhancements for the 2021 model were made to the 10-speed automatic Direct-Shift transmission on the V8-powered LC 500, as the shift logic was updated to help provide improvement for daily driving in what engineers refer to as the «active zone,» or the area where most drivers find themselves at in the 50-70% throttle range. The Direct-Shift transmission allows engine RPM to expand in this range to accentuate the feeling of acceleration before shifting into the next gear.

Lexus Enform for Safety and Convenience
Lexus Enform Safety Connect comes with a three-year trial with access to Lexus Enform response centers 24/7/365. With Lexus Enform Service Connect, complimentary for the first 10 years, the vehicle can send alerts for specific factory recommended maintenance, simultaneously alerting a preferred Lexus dealer. The Lexus App can be used to set push-reminders and alerts for maintenance and service issues. The Lexus Enform Remote (three-year trial subscription included) mobile app lets you lock and unlock doors, start the engine and climate controls, check the fuel level, and more all through your smartphone, smartwatch or Amazon Alexa–enabled devices at home. 

Advanced Safety Features and Driver Support
Lexus Safety System+ comes standard on the 2021 LC 500. Lexus Safety System+ features Lane Departure Alert with Lane Keep Assist. Pre-Collision System with Pedestrian Detection is standard and includes features such as Frontal Collision Warning (FCW), Automatic Emergency Braking (AEB) and Pedestrian Detection. All-Speed Dynamic Radar Cruise Control is also included, as is Intelligent High Beam that will default to high-beam mode when the road ahead is clear but will temporarily switch to low beams when headlamps or taillamps are detected.

Intuitive Parking Assist comes standard on the LC Inspiration Series. It uses sonar sensors in the front and rear bumpers to detect obstacles in the vehicle’s path during low-speed maneuvering. The system gives an audible alert and the Multi-Information Display (MID) shows the position and distance to the obstacle. Blind Spot Monitor is standard equipment, as is a windshield de-icer.

Lexus’ passion for brave design, imaginative technology, and exhilarating performance enables the luxury lifestyle brand to create amazing experiences for its guests. Lexus began its journey in 1989 with two luxury sedans and a commitment to pursue perfection. Since then, Lexus has developed its lineup to meet the needs of global luxury customers in more than 90 countries. In the United States, Lexus vehicles are sold through 242 dealers offering a full lineup of luxury vehicles. With six models incorporating Lexus Hybrid Drive, Lexus is the luxury hybrid leader. Lexus also offers six F SPORT models and two F performance models. Lexus is committed to being a visionary brand that anticipates the future for luxury customers.

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Note to Editors: Lexus product information and images are available online via our news media web site http://LexusNewsroom.com.

Media Contact
Ryan Matsumoto
469-292-6121
Ryan.Matsumoto@Lexus.com

 

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Jackpots Over $1 Billion…Feeling Lucky? Now New Yorkers Can Play the Lottery From Anywhere

NEW YORK, Jan. 12, 2021 /PRNewswire/ — For the first time, New Yorkers can play the lottery from the comfort of home. Today, Jackpocket, the first and only licensed third-party lottery app in the U.S.,…

NEW YORK, Jan. 12, 2021 /PRNewswire/ — For the first time, New Yorkers can play the lottery from the comfort of home. Today, Jackpocket, the first and only licensed third-party lottery app in the U.S., announced the ability to play Powerball, Mega Millions, New York Lotto, Cash4Life, Win 4, Take 5, Pick 10 and Numbers in New York state. The launch in New York comes as both Mega Millions and Powerball are over $500M for their drawings tonight and on January 13 respectively.

Jackpocket gives New Yorkers an easy, secure way to order official state lottery tickets from their smartphones. In 2019, the New York Gaming Commission approved new regulations allowing digital lottery courier services to operate in New York. Jackpocket is the first officially-licensed New York courier service under the new regulatory framework.

«As a native New Yorker and growing up watching my father play the lottery, being able to use Jackpocket in New York is personal for me,» said Peter Sullivan, CEO and founder of Jackpocket. «Jackpocket’s mission is to make the lottery more accessible and convenient to play. I’m proud that now it’s easier than ever to play your favorite games from anywhere in New York

By broadening access to the lottery, Jackpocket helps drive state lottery revenue while also  attracting new consumers who otherwise would not be active lottery players. Over sixty-percent of current Jackpocket users are under 45 years old. The New York Lottery contributed over $3 billion in 2019 to help support education in New York State and continues to represent 13% of the total state education aid to local school districts.

New York is Jackpocket’s 10th state launch following Arkansas, Colorado, Minnesota, New Hampshire, New Jersey, Ohio, Oregon, Texas, and Washington DC. To date, Jackpocket players have won over $22 million in lottery prizes.

To ensure player safety, Jackpocket offers consumer protections such as daily deposit and spend limits, self-exclusion, and in-app access to responsible gaming resources. Jackpocket is a member of the National Council on Problem Gambling, and the first third-party lottery service to receive a responsible gambling certification from the NCPG’s Internet Responsible Gambling Compliance Assessment Program.

About Jackpocket
Jackpocket is on a mission to create a more convenient, fun and responsible way to play the lottery. By being the first company to automatically lock a customer’s account to their ticket serial number, Jackpocket makes the lottery even more secure. Jackpocket is currently available in Arkansas, Colorado, Minnesota, New Hampshire, New Jersey, New York, Ohio, Oregon, Texas, and Washington, D.C., and is expanding to many new markets. Download the app on iOS or Android and follow along on Facebook, Twitter and Instagram.

 

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SOURCE Jackpocket