AMC Connection
Agricultural Manufacturers of Canada
NEW AMC MEMBERS
Leland Industries Inc. is a domestic manufacturer of bolts, nuts, screws, carbon steel or stainless steel. They also manufacture bent wire form products, u-bolts, j-bolts and anchor bolts. They provide threading to 4 1/2" diameter, ACME threading, heavy threaded rod.
Canadian made from Canadian steel and labour!
INDUSTRY NEWS
Winnipeg, MB, May 20, 2015 – Ag Growth International Inc. ("AGI") (TSX: AFN) is pleased to announce that the previously disclosed arrangement to acquire the Westeel division of Vicwest Inc. (TSX: VIC) was completed today. Headquartered in Winnipeg, Manitoba, Westeel is Canada’s leading provider of grain storage solutions offering a wide range of on-farm and commercial products for the agricultural industry.
"The strategic acquisition of Canada's leading brand in grain storage further establishes AGI as a global leader in grain handling and storage solutions," said Gary Anderson, AGI’s Chief Executive Officer. "AGI and Westeel share a deep commitment to product quality and customer service and combined we create a Canadian-based global agricultural leader with a long history of serving the needs of our customers. Westeel’s complementary product offering expands our growth platform within North America and around the world and we look forward with enthusiasm to bringing this outstanding company into the AGI family."
"AGI places the highest value on the contributions of its employees and we look forward to meeting and welcoming all of the people at Westeel," said Tim Close, President of AGI. "We are very excited to get to work on growing Westeel along with AGI and realizing upon the enormous potential of the combination of these great companies."
Financial Highlights
- The aggregate purchase price for Westeel was $221.5 million. The purchase price includes net cash on closing of approximately $13 million and a redundant manufacturing plant with an estimated market value of $4 million.
- The acquisition was financed through the issuance of 1,112,050 subscription receipts at $46.55 per receipt for gross proceeds of $51.75 million, the issuance of $51.75 million of extendible convertible unsecured subordinated debentures, and long-term debt. With the completion of the Westeel acquisition, the subscription receipts have been exchanged for 1,112,050 common shares and the maturity date of the debentures has been extended to December 31, 2019.
- Pro forma 2014 revenue of the combined companies is over $600 million. The combination of Westeel with AGI results in a more geographically balanced revenue profile with a pro forma 2014 geographic breakdown as follows:
o Canada 44% (AGI standalone 26%).
o U.S. 39% (AGI standalone 55%).
o International 17% (AGI standalone 19%).
- Westeel generated adjusted EBITDA of approximately $20 million in 2014. The estimated adjusted EBITDA reflects earnings of the Westeel business (before any costs associated with Vicwest's corporate support functions that were not transferred to AGI as part of the Westeel acquisition) less incremental corporate support costs AGI estimates will be required post-closing. For the year ended December 31, 2014, AGI generated adjusted EBITDA of $78 million, resulting in pro forma adjusted EBITDA for the period of $98 million.
- Management believes the acquisition of Westeel provides significant SG&A, sales and manufacturing synergies with estimated near-term synergies of $5 million per annum.
Company Profile
AGI is a leading manufacturer of portable and stationary grain handling, storage and conditioning equipment, including augers, belt conveyors, chain conveyors, grain storage bins, grain handling accessories, grain aeration equipment and grain drying systems. AGI has manufacturing facilities in Canada, the United States, the United Kingdom and Finland and distributes its product globally.
Further information can be found in the disclosure documents filed by AGI with the securities regulatory authorities, available at www.sedar.com and on AGI's website www.aggrowth.com.
Non-IFRS Measures
This press release refers to "adjusted EBITDA" of AGI, Westeel and AGI pro forma the acquisition of Westeel for the year ended December 31, 2014, which is profit before income taxes, finance costs, depreciation, amortization, impairment charges related to goodwill, intangibles or available for sale assets, changes in the fair value of embedded derivatives, gains or losses on foreign exchange, gains or losses on the sale of property, plant & equipment, non-cash share based compensation expenses and expenses related to corporate acquisition activity and after excluding non-recurring income and expenses associated with Vicwest Inc.'s corporate support functions that were not transferred to AGI as part of the Westeel acquisition and incremental corporate supports costs AGI estimates will be required post-closing.
Adjusted EBITDA is not recognized under International Financial Reports Standards and does not have a standardized meaning. Accordingly, it may not be possible to compare it with similar financial measures of other companies having the same or similar businesses as Westeel and AGI. In evaluating financial performance, management believes that adjusted EBITDA is a useful supplemental measure to profit or loss; however, management cautions potential investors that adjusted EBITDA should not replace profit or loss as an indicator of performance.
Pro forma financial Information
This press release refers to unaudited pro forma financial information for AGI for the year ended December 31, 2014, giving effect to, among other things, the Westeel acquisition, as if the Westeel acquisition had been completed as at January 1, 2014. Such unaudited pro forma financial information is not intended to be indicative of the results that would actually have occurred, or the results expected in future periods, had the events reflected therein occurred on the dates indicated. Any potential synergies that may be realized have been excluded from such unaudited pro forma financial information. There are limitations inherent in the very nature of pro forma data and undue reliance should not be placed on such unaudited pro forma financial information. The historical financial information relating to the Westeel business included in this press release may not reflect what the revenues and adjusted EBITDA of the Westeel business would have been had the Westeel business been a separate legal entity or had AGI owned the Westeel business during 2014, or what AGI's revenues or adjusted EBITDA will be in the future.
Forward-Looking Statements
This press release contains forward-looking information within the meaning of applicable Canadian securities law ("forward-looking statements") Statements other than statements of historical fact contained in this press release may constitute forward-looking statements including, without limitation, management's expectations, projections, estimates, intentions and beliefs concerning anticipated future events, results, circumstances, economic performance or expectations with respect to AGI, including AGI's business operations, business strategy and financial condition. Forward-looking statements may include words such as "anticipates", "believes", "budgets", "could", "estimates", "expects", "goal", "intends", "may", "outlook", "plans", "strive", "target", "will", "should", "proposes", "predicts", "potential", "continue" or similar words. Some of the specific forward-looking statements in this press release include, but are not limited to, statements with respect to AGI's ability to achieve the expected benefits of the Westeel acquisition and the anticipated impact of the Westeel acquisition on AGI and its business.
The forward-looking statements contained herein reflect the internal projections, expectations, future growth, results of operations, performance, business prospects and opportunities of AGI and are based on information currently available to AGI. In developing these forward-looking statements, certain material assumptions were made that AGI believes are reasonable. Actual results and performance may differ materially from results and performance discussed in the forward-looking statements, as they are subject to a number of risks and uncertainties, including but not limited to: actual future market conditions being different than those anticipated by management; the failure to realize some or all of the anticipated benefits of the Westeel acquisition; and the other risks described in AGI's annual information form and other reports on file with Canadian securities regulatory authorities which can be accessed through the SEDAR website at www.sedar.com.
Material factors or assumptions that were applied to drawing a conclusion or making an estimate set out in forward-looking statements, include, but are not limited to: the view of management regarding current and anticipated market conditions; industry trends remaining unchanged; the financial and operating attributes of AGI and Westeel and the anticipated future performance of AGI and Westeel; assumptions regarding the interest rates under AGI's credit facilities; the extent to which the Westeel acquisition is accretive, which may be impacted by the realization and timing of synergies and the operating performance of AGI and Westeel; assumptions regarding non-recurring transaction and transition costs incurred by AGI in connection with the Westeel acquisition; assumptions regarding future general and administrative costs estimated to be incurred by AGI in connection with the management of the Westeel business by AGI; assumptions regarding value of the business and assets acquired and liabilities assumed pursuant to the Westeel acquisition; and the other factors and assumptions described herein and in AGI's annual information form and other reports on file with Canadian securities regulatory authorities.
There can be no assurance that any of the anticipated strategic benefits and operational, competitive and cost synergies of the Westeel acquisition will be realized.
Readers are cautioned that the preceding list of material factors or assumptions is not exhaustive. Although forward-looking statements contained in this press release are based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. Accordingly, readers should not place undue reliance on such forward-looking statements and assumptions as management cannot provide assurance that actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, AGI. These forward-looking statements are subject to change as a result of new information, future events or other circumstances.
The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this press release are made as of the date hereof and AGI undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.
"The strategic acquisition of Canada's leading brand in grain storage further establishes AGI as a global leader in grain handling and storage solutions," said Gary Anderson, AGI’s Chief Executive Officer. "AGI and Westeel share a deep commitment to product quality and customer service and combined we create a Canadian-based global agricultural leader with a long history of serving the needs of our customers. Westeel’s complementary product offering expands our growth platform within North America and around the world and we look forward with enthusiasm to bringing this outstanding company into the AGI family."
"AGI places the highest value on the contributions of its employees and we look forward to meeting and welcoming all of the people at Westeel," said Tim Close, President of AGI. "We are very excited to get to work on growing Westeel along with AGI and realizing upon the enormous potential of the combination of these great companies."
Financial Highlights
- The aggregate purchase price for Westeel was $221.5 million. The purchase price includes net cash on closing of approximately $13 million and a redundant manufacturing plant with an estimated market value of $4 million.
- The acquisition was financed through the issuance of 1,112,050 subscription receipts at $46.55 per receipt for gross proceeds of $51.75 million, the issuance of $51.75 million of extendible convertible unsecured subordinated debentures, and long-term debt. With the completion of the Westeel acquisition, the subscription receipts have been exchanged for 1,112,050 common shares and the maturity date of the debentures has been extended to December 31, 2019.
- Pro forma 2014 revenue of the combined companies is over $600 million. The combination of Westeel with AGI results in a more geographically balanced revenue profile with a pro forma 2014 geographic breakdown as follows:
o Canada 44% (AGI standalone 26%).
o U.S. 39% (AGI standalone 55%).
o International 17% (AGI standalone 19%).
- Westeel generated adjusted EBITDA of approximately $20 million in 2014. The estimated adjusted EBITDA reflects earnings of the Westeel business (before any costs associated with Vicwest's corporate support functions that were not transferred to AGI as part of the Westeel acquisition) less incremental corporate support costs AGI estimates will be required post-closing. For the year ended December 31, 2014, AGI generated adjusted EBITDA of $78 million, resulting in pro forma adjusted EBITDA for the period of $98 million.
- Management believes the acquisition of Westeel provides significant SG&A, sales and manufacturing synergies with estimated near-term synergies of $5 million per annum.
Company Profile
AGI is a leading manufacturer of portable and stationary grain handling, storage and conditioning equipment, including augers, belt conveyors, chain conveyors, grain storage bins, grain handling accessories, grain aeration equipment and grain drying systems. AGI has manufacturing facilities in Canada, the United States, the United Kingdom and Finland and distributes its product globally.
Further information can be found in the disclosure documents filed by AGI with the securities regulatory authorities, available at www.sedar.com and on AGI's website www.aggrowth.com.
Non-IFRS Measures
This press release refers to "adjusted EBITDA" of AGI, Westeel and AGI pro forma the acquisition of Westeel for the year ended December 31, 2014, which is profit before income taxes, finance costs, depreciation, amortization, impairment charges related to goodwill, intangibles or available for sale assets, changes in the fair value of embedded derivatives, gains or losses on foreign exchange, gains or losses on the sale of property, plant & equipment, non-cash share based compensation expenses and expenses related to corporate acquisition activity and after excluding non-recurring income and expenses associated with Vicwest Inc.'s corporate support functions that were not transferred to AGI as part of the Westeel acquisition and incremental corporate supports costs AGI estimates will be required post-closing.
Adjusted EBITDA is not recognized under International Financial Reports Standards and does not have a standardized meaning. Accordingly, it may not be possible to compare it with similar financial measures of other companies having the same or similar businesses as Westeel and AGI. In evaluating financial performance, management believes that adjusted EBITDA is a useful supplemental measure to profit or loss; however, management cautions potential investors that adjusted EBITDA should not replace profit or loss as an indicator of performance.
Pro forma financial Information
This press release refers to unaudited pro forma financial information for AGI for the year ended December 31, 2014, giving effect to, among other things, the Westeel acquisition, as if the Westeel acquisition had been completed as at January 1, 2014. Such unaudited pro forma financial information is not intended to be indicative of the results that would actually have occurred, or the results expected in future periods, had the events reflected therein occurred on the dates indicated. Any potential synergies that may be realized have been excluded from such unaudited pro forma financial information. There are limitations inherent in the very nature of pro forma data and undue reliance should not be placed on such unaudited pro forma financial information. The historical financial information relating to the Westeel business included in this press release may not reflect what the revenues and adjusted EBITDA of the Westeel business would have been had the Westeel business been a separate legal entity or had AGI owned the Westeel business during 2014, or what AGI's revenues or adjusted EBITDA will be in the future.
Forward-Looking Statements
This press release contains forward-looking information within the meaning of applicable Canadian securities law ("forward-looking statements") Statements other than statements of historical fact contained in this press release may constitute forward-looking statements including, without limitation, management's expectations, projections, estimates, intentions and beliefs concerning anticipated future events, results, circumstances, economic performance or expectations with respect to AGI, including AGI's business operations, business strategy and financial condition. Forward-looking statements may include words such as "anticipates", "believes", "budgets", "could", "estimates", "expects", "goal", "intends", "may", "outlook", "plans", "strive", "target", "will", "should", "proposes", "predicts", "potential", "continue" or similar words. Some of the specific forward-looking statements in this press release include, but are not limited to, statements with respect to AGI's ability to achieve the expected benefits of the Westeel acquisition and the anticipated impact of the Westeel acquisition on AGI and its business.
The forward-looking statements contained herein reflect the internal projections, expectations, future growth, results of operations, performance, business prospects and opportunities of AGI and are based on information currently available to AGI. In developing these forward-looking statements, certain material assumptions were made that AGI believes are reasonable. Actual results and performance may differ materially from results and performance discussed in the forward-looking statements, as they are subject to a number of risks and uncertainties, including but not limited to: actual future market conditions being different than those anticipated by management; the failure to realize some or all of the anticipated benefits of the Westeel acquisition; and the other risks described in AGI's annual information form and other reports on file with Canadian securities regulatory authorities which can be accessed through the SEDAR website at www.sedar.com.
Material factors or assumptions that were applied to drawing a conclusion or making an estimate set out in forward-looking statements, include, but are not limited to: the view of management regarding current and anticipated market conditions; industry trends remaining unchanged; the financial and operating attributes of AGI and Westeel and the anticipated future performance of AGI and Westeel; assumptions regarding the interest rates under AGI's credit facilities; the extent to which the Westeel acquisition is accretive, which may be impacted by the realization and timing of synergies and the operating performance of AGI and Westeel; assumptions regarding non-recurring transaction and transition costs incurred by AGI in connection with the Westeel acquisition; assumptions regarding future general and administrative costs estimated to be incurred by AGI in connection with the management of the Westeel business by AGI; assumptions regarding value of the business and assets acquired and liabilities assumed pursuant to the Westeel acquisition; and the other factors and assumptions described herein and in AGI's annual information form and other reports on file with Canadian securities regulatory authorities.
There can be no assurance that any of the anticipated strategic benefits and operational, competitive and cost synergies of the Westeel acquisition will be realized.
Readers are cautioned that the preceding list of material factors or assumptions is not exhaustive. Although forward-looking statements contained in this press release are based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. Accordingly, readers should not place undue reliance on such forward-looking statements and assumptions as management cannot provide assurance that actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, AGI. These forward-looking statements are subject to change as a result of new information, future events or other circumstances.
The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this press release are made as of the date hereof and AGI undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.
May 06, 2015 (Salford, Ontario) –Salford Group, a global leader in the manufacturing of tillage, seeding, and fertilizer application equipment, is bringing a whole new level of choice to the fertilizer application market through its acquisition of Valmar Airflo, Inc., a leading manufacturer of seeding and granular application equipment for the agricultural industry.
"We are thrilled to add Valmar Airflo to our family," stated Geof Gray, Chief Executive Officer of Salford Group. "This merger will allow us to offer a complete line of competitively priced seeding and granular application equipment to the grower and service provider."
Gray also noted that he looked forward to seeing the combined strength and resulting synergies of the design teams at Valmar Airflo, BBI Spreaders and the Salford Air Cart division, as farmers would benefit from greater choice and fresh innovation.
The Valmar Airflo acquisition adds significant benefits and expertise to Salford Group, with an expanded product line that now includes: primary, secondary and vertical tillage, air seeders, commodity carts, cover crop seeders, spinner-type fertilizer spreaders, air-boom applicators and granular applicators for fertilizer, insecticide, seed, seed inoculant and forage preservatives.
Valmar has a long history of combining its patented Airflo metering technology with other OEM tillage, seeding, planting, and application equipment to enhance their productivity and versatility. Valmar Airflo was founded in 1976 by Charles "Charlie" Balmer, a Swiss immigrant who moved to Manitoba in 1953. Balmer started out as a mechanic eventually recognized from both the Manitoba and Canada Halls of Fame for his innovative designs and commitment to improving technology for growers. He continued to work and innovate well into his later years before succumbing to cancer in 2006.
Indiana farmer Dan DeSutter was the first field operator to use Salford and Valmar equipment together, when he paired a Salford I-1100 and a Valmar 2455 to apply his annual rye grass seeding back in 2007.
Since that time, interest in cover crop seeding among the farming community has expanded rapidly, and in response, Salford and Valmar have been steadily increasing their level of cooperation in order to offer farmers a flexible, effective cover crop application tool. That cooperation was recognized by industry analysts in fall 2014 for multiple benefits to the farmers, as they noted that the combination of Salford and Valmar equipment saved producers time and fuel while improving soil health.
"This next step in our cooperation with Salford Group is very exciting for us," said Mercedes Caron, Valmar President. "Salford Group has the capital, additional core expertise and access to markets that will bring Valmar’s existing product lines to more farms in North America and a greater global market."
Caron also stated that more accurate fertilizer application, nutrient management and cover crop seeding are becoming mandatory in some regions and considered best practices in most other areas: "Whether these practices are mandated or not, more accurate fertilizer application is saving farmers money and cover crops are improving soil quality by building soil organic matter, adding nutrients to the soil, and reducing erosion and runoff. We’re proud to be helping farmers save money and be better stewards of the land."
"Furthermore, I’m sure that our founder, Charlie Balmer, would be proud that his life's work will continue to grow and serve Canadian farmers, and I am certain he would be honoured that the Salford Group was acquiring this company and taking it to the next level," said Caron.
"We are thrilled to add Valmar Airflo to our family," stated Geof Gray, Chief Executive Officer of Salford Group. "This merger will allow us to offer a complete line of competitively priced seeding and granular application equipment to the grower and service provider."
Gray also noted that he looked forward to seeing the combined strength and resulting synergies of the design teams at Valmar Airflo, BBI Spreaders and the Salford Air Cart division, as farmers would benefit from greater choice and fresh innovation.
The Valmar Airflo acquisition adds significant benefits and expertise to Salford Group, with an expanded product line that now includes: primary, secondary and vertical tillage, air seeders, commodity carts, cover crop seeders, spinner-type fertilizer spreaders, air-boom applicators and granular applicators for fertilizer, insecticide, seed, seed inoculant and forage preservatives.
Valmar has a long history of combining its patented Airflo metering technology with other OEM tillage, seeding, planting, and application equipment to enhance their productivity and versatility. Valmar Airflo was founded in 1976 by Charles "Charlie" Balmer, a Swiss immigrant who moved to Manitoba in 1953. Balmer started out as a mechanic eventually recognized from both the Manitoba and Canada Halls of Fame for his innovative designs and commitment to improving technology for growers. He continued to work and innovate well into his later years before succumbing to cancer in 2006.
Indiana farmer Dan DeSutter was the first field operator to use Salford and Valmar equipment together, when he paired a Salford I-1100 and a Valmar 2455 to apply his annual rye grass seeding back in 2007.
Since that time, interest in cover crop seeding among the farming community has expanded rapidly, and in response, Salford and Valmar have been steadily increasing their level of cooperation in order to offer farmers a flexible, effective cover crop application tool. That cooperation was recognized by industry analysts in fall 2014 for multiple benefits to the farmers, as they noted that the combination of Salford and Valmar equipment saved producers time and fuel while improving soil health.
"This next step in our cooperation with Salford Group is very exciting for us," said Mercedes Caron, Valmar President. "Salford Group has the capital, additional core expertise and access to markets that will bring Valmar’s existing product lines to more farms in North America and a greater global market."
Caron also stated that more accurate fertilizer application, nutrient management and cover crop seeding are becoming mandatory in some regions and considered best practices in most other areas: "Whether these practices are mandated or not, more accurate fertilizer application is saving farmers money and cover crops are improving soil quality by building soil organic matter, adding nutrients to the soil, and reducing erosion and runoff. We’re proud to be helping farmers save money and be better stewards of the land."
"Furthermore, I’m sure that our founder, Charlie Balmer, would be proud that his life's work will continue to grow and serve Canadian farmers, and I am certain he would be honoured that the Salford Group was acquiring this company and taking it to the next level," said Caron.
As a new unit of the Salford Group, Valmar will continue to produce equipment from its Elie, Manitoba, manufacturing facility. Salford Group is planning fresh investment that will help expand production capacity and marketing power to make Valmar products more widely available to North American farmers. The Valmar facility will also become a parts distribution center for the complete Salford Group product line, providing better support for growers. The Manitoba facility will be the fifth manufacturing location for the Salford Group, adding to existing operations in Salford, Ontario, Osceola, Iowa, Cornelia, Georgia, and Omsk, Russia.
For more information, visit www.salfordmachine.com.
Axalta Continues the Long History of Refinisher Calendars
Ajax, ON – May 20, 2015: From collision repair shops in Miami to hot rodders in Vancouver and everywhere in between, the custom calendar produced annually by Axalta Coating Systems since 1993 is rich in tradition. Many custom car enthusiasts throughout Canada and the United States endeavor to have their vehicles featured in the calendar. If your car is painted with one of Axalta’s brilliant paint systems it might just make the cover.
Axalta, a leading global manufacturer of liquid and powder coatings, is pleased to announce the launch of its 2016 Custom Finishes Calendar Competition. Axalta is looking for motorized passenger vehicles including automobiles (imports or domestic), motorcycles, aircraft or watercraft, provided they are finished with Axalta custom finishes: Cromax® brand, Spies Hecker® brand or Standox® brand products. The Axalta Custom Finishes Calendar Competition began at 12:01 a.m. Eastern Time (EDT) on Friday, May 1, 2015 and ends at 11:59 p.m. EDT on Friday, June 19, 2015. Entrants must own or have finished the vehicle entered into the competition and provide two photographs of the vehicle when entering.
Submitters may enter online only by visiting the contest website, then select "Call for Entries," and complete the registration form in its entirety. Properly submitted entries that meet all eligibility requirements are subject to the official rules of the contest and will be judged by Axalta or its independent agent, whose decisions are final. Judging will be based on "best use of colour," including finish quality, technical difficulty, design originality and artistic merit.
There will be 12 prizes awarded and winners will be determined on or before Monday, August 3, 2015. One Grand Prize winner will receive $1000, a complimentary professional onsite photo shoot of the winning vehicle, cover position on the 2016 Custom Finishes Calendar, one calendar page highlight and 35 copies of the 2016 calendar. There will be 11 First Prizes, each of which include $500 cash, a complimentary professional onsite photo shoot of the winning vehicle, one in-calendar page position and 35 copies of the 2016 calendar.
To learn more about how Axalta is #EngineeredForSpeed, follow us on our North America Refinish social media channels.
www.Facebook.com/AxaltaNArefinish
www.Twitter.com/AxaltaNAref
www.Instagram.com/axaltarefinish
www.Pinterest.com/AxaltaNAref
www.YouTube.com/AxaltaUS
www.axalta.ca
About Axalta Coating Systems
Axalta is a leading global company focused solely on coatings and providing customers with innovative, colorful, beautiful and sustainable solutions. From light OEM vehicles, commercial vehicles and refinish applications to electric motors, buildings and pipelines, our coatings are designed to prevent corrosion, increase productivity and enable the materials we coat to last longer. With more than 145 years of experience in the coatings industry, the over 12,000 people of Axalta continue to find ways to serve our more than 120,000 customers in 130 countries better every day with the finest coatings, application systems and technology. For more information visit axaltacoatingsystems.com and follow us @axalta on Twitter and on LinkedIn.
Ajax, ON – May 20, 2015: From collision repair shops in Miami to hot rodders in Vancouver and everywhere in between, the custom calendar produced annually by Axalta Coating Systems since 1993 is rich in tradition. Many custom car enthusiasts throughout Canada and the United States endeavor to have their vehicles featured in the calendar. If your car is painted with one of Axalta’s brilliant paint systems it might just make the cover.
Axalta, a leading global manufacturer of liquid and powder coatings, is pleased to announce the launch of its 2016 Custom Finishes Calendar Competition. Axalta is looking for motorized passenger vehicles including automobiles (imports or domestic), motorcycles, aircraft or watercraft, provided they are finished with Axalta custom finishes: Cromax® brand, Spies Hecker® brand or Standox® brand products. The Axalta Custom Finishes Calendar Competition began at 12:01 a.m. Eastern Time (EDT) on Friday, May 1, 2015 and ends at 11:59 p.m. EDT on Friday, June 19, 2015. Entrants must own or have finished the vehicle entered into the competition and provide two photographs of the vehicle when entering.
Submitters may enter online only by visiting the contest website, then select "Call for Entries," and complete the registration form in its entirety. Properly submitted entries that meet all eligibility requirements are subject to the official rules of the contest and will be judged by Axalta or its independent agent, whose decisions are final. Judging will be based on "best use of colour," including finish quality, technical difficulty, design originality and artistic merit.
There will be 12 prizes awarded and winners will be determined on or before Monday, August 3, 2015. One Grand Prize winner will receive $1000, a complimentary professional onsite photo shoot of the winning vehicle, cover position on the 2016 Custom Finishes Calendar, one calendar page highlight and 35 copies of the 2016 calendar. There will be 11 First Prizes, each of which include $500 cash, a complimentary professional onsite photo shoot of the winning vehicle, one in-calendar page position and 35 copies of the 2016 calendar.
To learn more about how Axalta is #EngineeredForSpeed, follow us on our North America Refinish social media channels.
www.Facebook.com/AxaltaNArefinish
www.Twitter.com/AxaltaNAref
www.Instagram.com/axaltarefinish
www.Pinterest.com/AxaltaNAref
www.YouTube.com/AxaltaUS
www.axalta.ca
About Axalta Coating Systems
Axalta is a leading global company focused solely on coatings and providing customers with innovative, colorful, beautiful and sustainable solutions. From light OEM vehicles, commercial vehicles and refinish applications to electric motors, buildings and pipelines, our coatings are designed to prevent corrosion, increase productivity and enable the materials we coat to last longer. With more than 145 years of experience in the coatings industry, the over 12,000 people of Axalta continue to find ways to serve our more than 120,000 customers in 130 countries better every day with the finest coatings, application systems and technology. For more information visit axaltacoatingsystems.com and follow us @axalta on Twitter and on LinkedIn.
Philadelphia, PA, May 18, 2015 - Axalta Coating Systems, a leading global supplier of liquid and powder coatings, celebrates 50 years of Nap-Gard® fusion bonded epoxy thermosetting coatings. Since 1960, Nap-Gard FBE grades have been used from the coldest regions of Alaska to the hottest regions of the Middle East. Nap-Gard remains a worldwide leader of the standard practices for coating pipe with epoxy and the innovator behind today’s pipe coating practices.
Nap-Gard is an ideal corrosion protection coating on rebar used to strengthen concrete in highway, bridges and other construction, as well as on valves and fittings, storage tanks and electrical insulation. Excellent corrosion protection coupled with high heat tolerances make Nap-Gard an ideal choice for a number of industrial applications.
"Axalta Coating Systems is honoured to have such rich history, vast experience and great success with Nap-Gard powder coatings throughout these past fifty years," said Michael Cash, Axalta Senior Vice President and President, Industrial Coatings. "It keeps us motivated each day to continue the legacy by offering great products to our valued customers worldwide."
Nap-Gard coatings are approved for use in many jurisdictions to provide the ultimate in corrosion protection. Available in single, dual and multi-layer systems, Nap-Gard was developed to provide maximum corrosion protection of internal and external pipe for oil and gas pipelines. Nap-Gard also provides corrosion protection for valve products used in the most demanding environments, such as wastewater and saltwater.
Nap-Gard functional coatings are 100% solid, HAPs Free, and are high building in just a single coat.
For more information about Nap-Gard and other Axalta powder coating products please visit www.powder.axalta.com.
Axalta is a leading global company focused solely on coatings and providing customers with innovative, colorful, beautiful and sustainable solutions. From light OEM vehicles, commercial vehicles and refinish applications to electric motors, buildings and pipelines, our coatings are designed to prevent corrosion, increase productivity and enable the materials we coat to last longer. With more than 145 years of experience in the coatings industry, the over 12,000 people of Axalta continue to find ways to serve our more than 120,000 customers in 130 countries better every day with the finest coatings, application systems and technology. For more information visit axaltacoatingsystems.com and follow us @axalta on Twitter and on LinkedIn.
Nap-Gard is an ideal corrosion protection coating on rebar used to strengthen concrete in highway, bridges and other construction, as well as on valves and fittings, storage tanks and electrical insulation. Excellent corrosion protection coupled with high heat tolerances make Nap-Gard an ideal choice for a number of industrial applications.
"Axalta Coating Systems is honoured to have such rich history, vast experience and great success with Nap-Gard powder coatings throughout these past fifty years," said Michael Cash, Axalta Senior Vice President and President, Industrial Coatings. "It keeps us motivated each day to continue the legacy by offering great products to our valued customers worldwide."
Nap-Gard coatings are approved for use in many jurisdictions to provide the ultimate in corrosion protection. Available in single, dual and multi-layer systems, Nap-Gard was developed to provide maximum corrosion protection of internal and external pipe for oil and gas pipelines. Nap-Gard also provides corrosion protection for valve products used in the most demanding environments, such as wastewater and saltwater.
Nap-Gard functional coatings are 100% solid, HAPs Free, and are high building in just a single coat.
For more information about Nap-Gard and other Axalta powder coating products please visit www.powder.axalta.com.
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ST JOSEPH, MICHIGAN — The American Society of Agricultural and Biological Engineers (ASABE) announces the completion of three standards projects related to Type 4 power take-off (PTO) specifications. The actions include the adoption of two ISO standards and the revision of one ASABE document.
The two ISO adoptions supersede corresponding older versions of the same documents originally adopted by ASABE. The first, ANSI/ASABE AD 500-1:2014, Agricultural tractors — Rear-mounted power take-off types 1, 2, 3 and 4 — Part 1: General, is an adoption with modifications of the identically titled ISO 500-1:2014. The second, an identical adoption of the ISO document of the same name, is ASABE/ISO 500-3:2014, Agricultural tractors — Rear-mounted power take-off types 1, 2, 3 and 4 — Part 3: Main PTO dimensions and spline dimensions, location of PTO specifications, safety requirements, dimensions for master shield and clearance zone.
The third update is ASAE S207.13, Operating Requirements for Tractors and Power Take-off Driven Implements. In addition to inclusion of Type 4 PTO requirements, changes to this document include updates to the normative references.
These actions further advance harmonization between national and international standards, a goal that facilitates manufacturing, safety advancements, and product marketing worldwide.
ASABE members with standards access and those with site-license privileges can access the full-text via electronic download on the ASABE online Technical Library at elibrary.asabe.org/. Others can obtain a copy for a fee directly from the library or by contacting ASABE headquarters at schultz@asabe.org.
ASABE is recognized worldwide as a standards developing organization for food, agricultural, and biological systems, with more than 250 standards currently in publication. Conformance to ASABE standards is voluntary, except where required by state, provincial, or other governmental requirements, and the documents are developed by consensus in accordance with procedures approved by the American National Standards Institute. For information on this or any other ASABE standard, contact Scott Cedarquist at 269-932-7031, cedarq@asabe.org. A current listing of all ASABE standards projects can be found on the ASABE web site at www.asabe.org/projects.
ASABE is an international scientific and educational organization dedicated to the advancement of engineering applicable to agricultural, food, and biological systems. Further information on the Society can be obtained by contacting ASABE at (269) 429-0300, emailing hq@asabe.org or visiting www.asabe.org/.
The two ISO adoptions supersede corresponding older versions of the same documents originally adopted by ASABE. The first, ANSI/ASABE AD 500-1:2014, Agricultural tractors — Rear-mounted power take-off types 1, 2, 3 and 4 — Part 1: General, is an adoption with modifications of the identically titled ISO 500-1:2014. The second, an identical adoption of the ISO document of the same name, is ASABE/ISO 500-3:2014, Agricultural tractors — Rear-mounted power take-off types 1, 2, 3 and 4 — Part 3: Main PTO dimensions and spline dimensions, location of PTO specifications, safety requirements, dimensions for master shield and clearance zone.
The third update is ASAE S207.13, Operating Requirements for Tractors and Power Take-off Driven Implements. In addition to inclusion of Type 4 PTO requirements, changes to this document include updates to the normative references.
These actions further advance harmonization between national and international standards, a goal that facilitates manufacturing, safety advancements, and product marketing worldwide.
ASABE members with standards access and those with site-license privileges can access the full-text via electronic download on the ASABE online Technical Library at elibrary.asabe.org/. Others can obtain a copy for a fee directly from the library or by contacting ASABE headquarters at schultz@asabe.org.
ASABE is recognized worldwide as a standards developing organization for food, agricultural, and biological systems, with more than 250 standards currently in publication. Conformance to ASABE standards is voluntary, except where required by state, provincial, or other governmental requirements, and the documents are developed by consensus in accordance with procedures approved by the American National Standards Institute. For information on this or any other ASABE standard, contact Scott Cedarquist at 269-932-7031, cedarq@asabe.org. A current listing of all ASABE standards projects can be found on the ASABE web site at www.asabe.org/projects.
ASABE is an international scientific and educational organization dedicated to the advancement of engineering applicable to agricultural, food, and biological systems. Further information on the Society can be obtained by contacting ASABE at (269) 429-0300, emailing hq@asabe.org or visiting www.asabe.org/.
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