FARO | July 20, 2021
FARO® Technologies, Inc., a global leader of 3D measurement, imaging, and realization solutions for the 3D Metrology, AEC (Architecture, Engineering & Construction), and Public Safety Analytics markets, today announced the signing of an agreement to outsource its manufacturing to Sanmina Corporation, a US-based Fortune-500 Electronic Manufacturing Service (EMS) provider.
"As the next step in our business transformation, we plan to transition FARO production from our three manufacturing sites in Lake Mary, Florida, Exton, Pennsylvania and Stuttgart, Germany to Sanmina," stated Michael Burger, President and Chief Executive Officer. "Following a rigorous selection process, we selected Sanmina as our partner based upon their proven ability to deliver quality products on required timelines. Together, we are confident in our ability to meet customer demand throughout the transition process."
"While this decision is not easy as it directly affects FARO employees, once complete our new operational model greatly simplifies operations, reduces costs and allows our management team to focus on the development and sale of differentiated technology to customers in our target markets," Burger continued.
The phased transition to a Sanmina production facility is expected to be completed over the next twelve months and result in approximately $12 million in annualized labor and material savings when complete. FARO believes the expected savings will have a negligible impact on 2021, followed by steady improvement through 2022, with the full benefit to be realized in the first quarter of 2023.
The Company expects to incur a cash charge of approximately $6 million in the second half of 2021, primarily consisting of cash severance and total pre-tax charges of $15 to $20 million through the first half of 2022 when including the impact of facility and other asset write-downs. With these charges, the Company expects it will fully realize the $75 to $85 million in restructuring charges announced in February 2020.
For 40 years, FARO has provided industry-leading technology solutions that enable customers to measure their world, and then use that data to make smarter decisions faster. FARO continues to be a pioneer in bridging the digital and physical worlds through data-driven reliable accuracy, precision, and immediacy.
SimScale | November 11, 2020
SimScale GmbH, the provider of the world’s first production-ready SaaS application for engineering simulation, today announced a major platform development to enable integration and automation with their new application programming interface (API). The feature allows designers, engineers, and computational designers to link their preferred CAD tools directly to the SimScale simulation engine via the API. When designers need to use the power of computational fluid dynamics (CFD) to optimize the performance of their designs, the typical workflow is to import a CAD model into the CFD software and run the simulation. This means the simulation process goes from the designer to simulation specialist in a cumbersome process which stifles the iterative design process as well as resulting findings, especially during early design stages. SimScale’s API now allows direct integration with a CAD software stack like Rhino and Grasshopper.
MFS Consulting Engineers & Surveyor | October 06, 2021
MFS Consulting Engineers & Surveyor, DPC (MFS Engineers & Surveyors), a multidiscipline, MBE/DBE/SBE-certified civil engineering firm, announced today that it has acquired GEOD Corporation (GEOD), a provider of aerial photogrammetry / LIDAR mapping, land survey, subsurface utility markout, and 3D laser-scanning services. GEOD, which has been in operation for 60 years and has developed a reputation for the quality and accuracy of its services within the A/E/C industry, will continue to operate under its own brand as a subsidiary of MFS.
All GEOD employees and leadership are being retained and GEOD will continue to maintain its offices in Newfoundland, New Jersey, while providing synergistic services with MFS.
MFS offers to clients a range of civil, structural, and geotechnical engineering and construction management services. The GEOD acquisition augments MFS's well-established land survey division, enabling it to serve customers more fully by expanding its survey capabilities to include aerial mapping / photogrammetry and subsurface utility engineering (SUE) markout, and by more than doubling its team of survey professionals.
GEOD benefits by being part of a cross-discipline solutions design team that allows clients to receive engineering, surveying, and construction services from a single source. Additionally, MFS's status as a Minority Business Enterprise (MBE), Disadvantaged Business Enterprise (DBE), and Small Business Enterprise (SBE) will enable GEOD to soon achieve these certifications as well, enabling it greater access to government contracting opportunities.
According to Allied Market Research, the global AEC market is predicted to reach $15.84 billion by 2028.
"We're excited to incorporate GEOD's capabilities with our own as we continue to grow our business,GEOD's offerings and professional team are a great fit with our continual mission of providing high-quality services to clients. We look forward to continuing to serve GEOD's client base as well as our own through both the MFS and GEOD brands, and to jointly explore new market sectors."
-Michael Mudalel, PE, Principal Engineer and Managing Partner of MFS Engineers & Surveyors.
MFS is known for its exceptional ability to manage large, cross-disciplinary projects that combine engineering, surveying, and construction management services," said John Emilius, Business Development Manager at GEOD Corporation. "The two firms are highly complementary to one another. Moving under the MFS helm will benefit our current and future clients by enabling us to deliver a broad range of A/E/C services and capabilities under a single umbrella for even greater efficiencies.
The acquisition of GEOD by MFS makes it one of the largest survey service providers in New Jersey and New York.
About MFS Engineers & Surveyors
MFS is an MBE/DBE/SBE-certified, multidiscipline civil engineering and design consulting firm that provides personalized services and solutions to meet the needs of its diverse clients. Founded in 2009, the company is headquartered in South Plainfield, New Jersey, and has branch offices in New York City and San Juan, Puerto Rico. MFS provides site-civil, structural, and geotechnical engineering, as well as land survey and construction management services. The firm has been on NJBiz's list of "Best Places to Work" for six consecutive years and is currently ranked at no. 76 on the Engineering News-Record list of Top 500 New York Design Firms.