Standex International Profile
Standex International Corporation and subsidiaries operate as a diversified industrial manufacturer with leading positions in a variety of products and services that are used in diverse commercial and industrial markets.
Segments
The company operates through five segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions.
Electronics segment
This segment is a global component and value-added solutions provider of both sensing and switching technologies, as well as magnetic power conversion components and assemblies. Electronics competes on the basis of Customer Intimacy by designing, engineering, and manufacturing innovative solutions, components and assemblies to solve the company’s customers’ application needs through its Partner/Solve/Deliver approach. The company’s approach allows it to expand the business through organic growth with customers, as well as developing new products, driving geographic expansion, and pursuing inorganic growth through strategic acquisitions.
Components are manufactured in plants located in the U.S., Mexico, the U.K., Germany, Japan, China and India.
Markets and Applications
The company’s highly engineered products and vertically integrated manufacturing capabilities provide solutions to an array of markets and provide safe and efficient power transformation, current monitoring, and isolation, as well as switch, sensor and relay solutions to monitor systems for function and safety. The end-user of the company’s engineered solution is typically an original equipment manufacturer (OEM) or industrial equipment manufacturer. End-user markets include, but are not limited to, appliances, electrification (electric vehicles, solar, smart-grid, alternative energy), security, military, medical, aerospace, test and measurement, power distribution, transportation, and general industrial applications.
Brands
Business unit names are Standex Electronics, Standex-Meder Electronics, Renco Electronics, Northlake Engineering, Agile Magnetics, Sensor Solutions, Standex Electronics Japan. Other associated brand names include the MEDER, KENT, and KOFU reed switch brands.
Products and Services
The company’s sensing products employ reed switch, Hall effect, inductive, conductive and other technologies. Sensing based solutions include reed relays, fluid level, proximity, motion, flow, HVAC condensate, as well as custom electronic sensors containing its core technologies. The magnetics or power conversion products include custom wound transformers and inductors for low and high frequency applications, current sense technology, advanced planar transformer technology, value added assemblies, and mechanical packaging.
Customers
The business sells globally to a wide variety of mainly OEM customers focused on the end markets noted previously through a direct sales force, regional sales managers, field applications engineers, commissioned agents, representative groups, and distribution channels.
Engraving segment
This segment is a global creator and provider of custom textures and surface finishes on tooling that enhance the beauty and function of a wide range of consumer good and automotive products. The company focuses on continuing to meet the needs of a changing marketplace by offering experienced craftsmanship while investing in new technologies, such as laser engraving and soft surface skin texturized tooling. The company’s growth strategy is to continue to develop and/or acquire technologies to enhance surface textures that also allow its customers to introduce more sustainable manufacturing processes and reduce their own energy consumption. The company is one company operating in 19 countries using a consistent approach to guarantee harmony on global programs in service of its customers.
Markets and Applications
Standex Engraving Mold Tech has become the global leader in its industry by offering a full range of services to OEM’s, Tier 1 suppliers, mold makers and product designers. From start to finish, these services include the design of bespoke textures, the verification of the texture on a prototype, engraving a mold, enhancing and polishing it, and then offering on-site try-out support with ongoing tool maintenance and texture repair capabilities. In addition to these services, the company produces soft trim tooling, such as in mold graining (IMG) and nickel shells.
Brands
In addition to the Mold Tech brand, Engraving companies and brands also include:
Piazza Rosa and World Client Services (WCS), which both offer laser engraving and tool finishing in Europe and Mexico.
Tenibac-Graphion, which provides additional texturizing and prototyping capabilities in North America and China.
GS Engineering, which employs advanced processes and technology to rapidly produce molds for the creation of soft-touch surfaces.
Innovent, which is a specialized supplier of tools and machines used to produce diapers and products that contain absorbent materials between layers of non-woven fabric.
Products and Services
Texturing is achieved with either a laser or a chemical etching technique.
Laser Engraving offers superior features, such as multiple gloss levels, the elimination of paint and optimized scratch performance, and sharp definition for precise geometric patterns.
Chemical Engraving produces carefully designed textures and finishes without seams or distortion. The company’s Digital Transfer Technology offers an exclusive service which guarantees consistency, pattern integrity and texture harmony around the world.
Architexture Design Studio uses proprietary technology called Model-Tech which utilizes proven expertise to create and test custom textures. During the Model-Tech process, an original texture is first designed to offer beauty and function, which ultimately is used to create a large-format skin that can be wrapped on a model for testing.
Tooling Performance services include the enhancement, finishing and repair of a tool to improve its use during manufacturing.
Tool Enhancement services increase the wear resistance of the mold. Processes include advanced tool finishing services, anti-scratch, laser hardening in localized areas, Tribocoat and Release Coat.
Tool Finishing and Repair allows customers to achieve outstanding quality while saving valuable time. These services include laser micro-welding, polishing and lapping, laser cladding to accommodate engineering changes, mold assembly, tool management, maintenance, texture repair and on-site support.
Soft Trim Tooling and nickel shell molds are used to produce soft surfaces that emulate the feel of natural materials. The IMG process the company supports consumes significantly less energy in its customers' operations than the traditional slush molding process.
Customers
The Engraving business has become the global leader providing these products and services by offering a full range of services to automotive OEM’s, product designers, Tier 1 suppliers, and toolmakers all around the world.
Scientific segment
This segment is a provider of specialty temperature-controlled equipment for the medical, scientific, pharmaceutical, biotech and industrial markets. The group designs and produces its products in Summerville, SC.
The company’s product portfolio is used to control the temperatures of critical healthcare products, medications, vaccines and laboratory samples. The company focuses on solving customer problems for these critical applications and deliver innovative products and solutions meeting both exacting regulatory requirements and the unique needs of its customers.
Markets and Applications
The scientific and healthcare equipment that the company designs, assembles and manufactures is used in hospitals, pharmacies, clinical laboratories, reference laboratories, physicians’ offices, life science laboratories, government and academic facilities, and industrial testing laboratories. The company’s product offerings include laboratory and medical grade refrigerators, freezers and accessories; cryogenic storage tanks and accessories; and environmental stability chambers and incubators.
Brands
The company’s products are sold under various brands, including American BioTech Supply (ABS), Lab Research Products (LRP),Corepoint, Cryosafe, CryoGuard, and Scientific.
Products and Services
The company manufactures and provides specialty-controlled temperature equipment purpose-built for the medical, scientific, pharmaceutical, biotech and industrial markets. The company’s comprehensive portfolio includes a range of innovative reach in cold storage solutions for medications, vaccines, blood products and patient samples.
Customers
Scientific products are sold to medical and laboratory distributors, healthcare facilities, research universities, pharmaceutical companies, and pharmacies.
Engineering Technologies segment
This segment is a provider of innovative, metal-formed solutions for OEM and Tier 1 manufacturers for use in their advanced engineering designs.
The company’s solutions seek to address unique customer design challenges, such as reduction of input weight, material cost, part count, and complexity involving all formable materials with particular focus on large dimensions, large thickness or thin-wall construction, complex shapes and contours, and/or single-piece construction requirements. Engineering Technologies devises and manufactures these cost-effective components and assemblies by combining a portfolio of best-in-class forming technologies and technical experience, vertically integrated manufacturing processes, and group wide technical and design expertise.
The company intends to grow sales and product offerings by investing in advancements in its current and new technologies and identifying new cutting-edge solutions for these capabilities in existing and adjacent markets via customer and research collaboration.
This segment consists of the company’s Spincraft businesses with locations in Billerica, MA, New Berlin, WI, and Newcastle upon Tyne in the U.K.
Markets and Applications
Spincraft products serve applications within the space, aviation, defense, energy, medical, and general industrial markets.
The space market the company serves consists of components and assemblies for space launch vehicles, engines, crewed and uncrewed spacecraft and other space infrastructure.
The aviation market offerings include a large portfolio of components and assemblies for commercial and private aircraft engines, nacelles and fuel systems.
The defense market the company serves covers a wide spectrum of applications, including components for missiles, naval propulsion and structures, large dimension exhaust systems and military aircraft engine solutions.
Applications within the energy market include components and assemblies for new and MRO gas turbines, as well as solutions for oil & gas exploration operations.
Brands
This group's brand name is Spincraft.
Products and Services
Space: Fuel tanks and fuel tank domes, rocket engine components, crew vehicle and unmanned spacecraft structures and bulkheads.
Aviation: Nacelle inlet lipskins & ducts, engine components and fuel tank elements.
Defense: Missile nose cones & structures, naval propulsion components and structures, exhaust assemblies, and military aircraft engine & exhaust components.
Energy: Power generation turbine & other assemblies, oil & gas exploration connection components.
Customers
Engineering Technologies components are sold directly to large space, aviation, defense, energy and medical companies, or suppliers to those companies.
Specialty Solutions segment
This segment consists of two businesses: Federal Industries and Custom Hoists. These businesses differentiate themselves in their respective markets by collaborating with customers to develop and deliver custom solutions.
Federal Industries provides merchandising solutions to retail and food service customers whose revenue stream is enhanced through food presentation. Federal Industries focuses on the challenges of enabling retail and food service establishments to provide food and beverages that are fresh and appealing while at the same time providing for food safety, and energy efficiency. The company’s key differentiator is the ability to customize products to match customers’ decor within industry lead-time. This differentiator is used to target the convenience store, school cafeterias and quick-service restaurant segments.
Custom Hoists is a supplier of engineered hydraulic cylinders that meet customer specific requirements for demanding applications. The company’s engineering expertise coupled with broad manufacturing capabilities and responsiveness to customer needs drives its top line growth opportunities. The company leverages its full line of products for the construction markets in dump truck and trailer applications and deep expertise in the refuse market to expand into new adjacent markets, targeting the most challenging custom applications. Flexible design capability, a global supply chain and speed to market enable it to be successful in growing its business. The company’s team is dedicated to superior customer service through its technical engineering support and on-time delivery.
Specialty Solutions products are designed and/or manufactured in Hayesville, OH; Belleville, WI; and Tianjin, China.
Markets and Applications
Federal Industries custom designs and manufactures refrigerated, heated and dry merchandising display cases for bakery, deli, confectionary and packaged food products utilized in restaurants, convenience stores, quick-service restaurants, supermarkets, drug stores and institutions, such as hotels, hospitals, and school cafeterias.
Custom Hoist products are utilized by OEMs on vehicles, such as dump trucks, dump trailers, bottom dumps, garbage trucks (both recycling and rear loader), container roll off vehicles, hook lift trucks, liquid waste handlers, vacuum trucks, compactors, balers, airport catering vehicles, container handling equipment for airlines, lift trucks, yard tractors, and underground mining vehicles.
Brands
Federal Industries products are sold under the Federal brand.
Custom Hoists products are sold under the Custom Hoist brand.
Products and Services
Federal Industries offers a selection of display cases, including innovative customization, for fresh food merchandising requirements.
Custom Hoists designs and manufactures single and double acting telescopic and piston rod hydraulic cylinders for original and aftermarket use in construction equipment, refuse, airline support, mining, oil and gas, and other material handling applications.
Customers
Specialty Solutions products are sold to OEMs, distributors, service organizations, aftermarket repair outlets, end-users, dealers, buying groups, consultants, government agencies and manufacturers.
International Operations
International operations are conducted at 37 locations, in Europe, Canada, China, Japan, India, Southeast Asia, Korea, Mexico, and South Africa.
Research and Development
The company’s total research and development costs were $17.2 million for the year ended June 30, 2023.
Strategy
The company’s long-term business strategy is to create, improve, and enhance shareholder value by building more profitable, focused industrial platforms through its Standex Value Creation System. This methodology employs four components: Balanced Performance Plan, Growth Disciplines, Operational Excellence, and Talent Management and provides both a company-wide framework and tools. The company intends to continue investing organically and inorganically in high margin and growth businesses using this balanced and proven approach.
History
Standex International Corporation was founded in 1955. The company was incorporated in 1975.
