Connect with us

Technology

Nucor to Acquire Manufacturer of High-Performance Commercial Doors

Published

on

CHARLOTTE, N.C., June 3, 2024 /PRNewswire/ — Nucor Corporation (NYSE: NUE) announced today that it has entered into an agreement to acquire Rytec Corporation, a manufacturer and seller of high-speed, high-performance commercial doors. The all-cash transaction is valued at $565 million, which represents approximately 12.5x Rytec’s estimated 2024 EBITDA. With over 300 teammates operating out of two manufacturing facilities in Wisconsin, Rytec is widely considered to be the pre-eminent brand for high-performance commercial doors.  

“Rytec is a leader in high-performance commercial doors and serves several growing end-user markets. This acquisition further executes our strategy to expand beyond our core steelmaking businesses into related downstream businesses. Adding high-performance doors will create cross-selling opportunities with other Nucor businesses and greatly expand Nucor’s product portfolio serving the commercial arena,” said Leon Topalian, Chair, President and Chief Executive Officer of Nucor. “Rytec has a strong cultural fit with Nucor, and we are excited to welcome the Rytec teammates to the Nucor family.”

Rytec produces high-speed Spiral® rigid rolling doors for warehouses, manufacturing facilities, auto dealerships, and parking garages, as well as durable fabric doors for cold storage/food and beverage, manufacturing, and clean room applications. The company has a strong focus on product development and has invested significantly in technology and automation to improve quality, increase efficiency, and enhance safety.

“We are excited to work with the incredible team at Rytec. Their products are a natural platform for expanding Nucor’s overhead door product suite. Rytec has established itself as the premier brand in high-performance commercial doors, with a strong reputation for quality and best-in-class customer service. The combination of Rytec with C.H.I. Overhead Doors will create an overhead door platform that will deliver superior product breadth and solutions to Nucor’s commercial customers,” said Chad Utermark, Executive Vice President of New Markets and Innovation for Nucor.

About Nucor
Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Products produced include: carbon and alloy steel — in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; overhead doors; steel grating; wire and wire mesh; and utility structures. Nucor, through The David J. Joseph Company and its affiliates, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron/direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America’s largest recycler.

Forward-Looking Statements
Certain statements contained in this news release are “forward-looking statements” that involve risks and uncertainties which we expect will or may occur in the future and may impact our business, financial condition and results of operations. The words “anticipate,” “believe,” “expect,” “intend,” “project,” “may,” “will,” “should,” “could” and similar expressions are intended to identify those forward-looking statements. These forward-looking statements reflect the Company’s best judgment based on current information, and, although we base these statements on circumstances that we believe to be reasonable when made, there can be no assurance that future events will not affect the accuracy of such forward-looking information. As such, the forward-looking statements are not guarantees of future performance, and actual results may vary materially from the projected results and expectations discussed in this news release. Factors that might cause the Company’s actual results to differ materially from those anticipated in forward-looking statements include, but are not limited to: (1) competitive pressure on sales and pricing, including pressure from imports and substitute materials; (2) U.S. and foreign trade policies affecting steel imports or exports; (3) the sensitivity of the results of our operations to general market conditions, and in particular, prevailing market steel prices and changes in the supply and cost of raw materials, including pig iron, iron ore and scrap steel; (4) the availability and cost of electricity and natural gas, which could negatively affect our cost of steel production or result in a delay or cancellation of existing or future drilling within our natural gas drilling programs; (5) critical equipment failures and business interruptions; (6) market demand for steel products, which, in the case of many of our products, is driven by the level of nonresidential construction activity in the United States; (7) impairment in the recorded value of inventory, equity investments, fixed assets, goodwill or other long-lived assets; (8) uncertainties and volatility surrounding the global economy, including excess world capacity for steel production, inflation and interest rate changes; (9) fluctuations in currency conversion rates; (10) significant changes in laws or government regulations affecting environmental compliance, including legislation and regulations that result in greater regulation of greenhouse gas emissions that could increase our energy costs, capital expenditures and operating costs or cause one or more of our permits to be revoked or make it more difficult to obtain permit modifications; (11) the cyclical nature of the steel industry; (12) capital investments and their impact on our performance; (13) our safety performance; (14) our ability to integrate businesses we acquire; and (15) the impact of the COVID-19 pandemic, any variants of the virus, and any other similar pandemic or public health situation. These and other factors are discussed in Nucor’s regulatory filings with the United States Securities and Exchange Commission, including those in “Item 1A. Risk Factors” of Nucor’s Annual Report on Form 10-K for the year ended December 31, 2023. The forward-looking statements contained in this news release speak only as of this date, and Nucor does not assume any obligation to update them, except as may be required by applicable law.

View original content:https://www.prnewswire.com/news-releases/nucor-to-acquire-manufacturer-of-high-performance-commercial-doors-302161960.html

SOURCE Nucor Corporation

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Applied Medical Launches Two Innovative Suture Passing Instruments: RHAPSO™ and GEMINI®

Published

on

By

BRECKSVILLE, Ohio, May 7, 2025 /PRNewswire/ — Applied Medical Technology, Inc. proudly announces the launch of two cutting-edge suture passing solutions engineered for precision, efficiency, and adaptability in minimally invasive procedures: RHAPSO™ and GEMINI®.

RHAPSO™ – Versatile Suture Passing Instrument

Designed for surgeons seeking refined control and ease in suturing, RHAPSO™ is a 17-gauge fine needle suture passer that delivers exceptional performance in confined surgical spaces. Featuring a wide opening for enhanced suture capture, RHAPSO™ streamlines suturing through its spring-assisted, atraumatic grasper arms.

Key Benefits:

Available with curved or straight echogenic needle options

Luer access for fluid and radiographic media management

Ergonomic design for intuitive, precise handling

Ideal for minimally invasive and complex tissue approximation

GEMINI® – Suture Passer with Magnet Technology

Introducing the next evolution in suture management, GEMINI® incorporates self-aligning magnet technology to simplify intracorporeal suture retrieval. Designed to minimize tissue trauma, GEMINI® includes magnetic suture loops and a magnetized grasper arm for seamless, reliable connection.

Key Benefits:

Smallest gauge suture passer in its class (17-gauge needle)

Straight and curved needle kits available

Built-in luer access and suture exchange loop feature

Enhanced wound healing potential via low-trauma design

“With RHAPSO™ and GEMINI®, we’re equipping surgeons with tools that simplify complex tasks and support better patient outcomes,” said Joe Harr, Surgical Sales Manager at Applied Medical Technology, Inc. “These devices reflect our commitment to advancing surgical precision and procedural confidence.”

For ordering information, visit www.AppliedMedical.net or contact Customer Service at 800-869-7382.

About AMT: Applied Medical Technology, Inc. (AMT) is a global leader in enteral and surgical devices committed to improving lives through innovation. For 40 years, AMT has bridged the gap between medical technology and patient needs, collaborating with healthcare professionals and users to develop high-quality, life-enhancing solutions. Our holistic approach prioritizes the well-being of the whole person, not just the device they use.

View original content to download multimedia:https://www.prnewswire.com/news-releases/applied-medical-launches-two-innovative-suture-passing-instruments-rhapso-and-gemini-302448999.html

SOURCE Applied Medical Technology, Inc.

Continue Reading

Technology

Only 0.001% of the Deep Seafloor Visually Observed in Seventy Years, Revealing Gaps and Bias in Ocean Exploration

Published

on

By

SAUNDERSTOWN, R.I., May 7, 2025 /PRNewswire/ — In a groundbreaking study published today in Science Advances, researchers from Ocean Discovery League reveal that only a minuscule fraction of the deep seafloor has been imaged. Despite covering 66% of Earth’s surface, the deep ocean remains largely unexplored. The study, “How Little We’ve Seen: A Visual Coverage Estimate of the Deep Seafloor,” is the first to document that, in decades of deep-sea exploration, humans have observed less than 0.001% of the deep seafloor. This total area is roughly the size of Rhode Island or one-tenth the size of Belgium.

In a groundbreaking study, researchers reveal that only a minuscule fraction of the deep seafloor has been imaged.

The deep ocean, defined as being deeper than 200 meters, sustains diverse ecosystems and provides essential services, including oxygen production, climate regulation, and crucial pharmaceutical discoveries, and plays a critical role in maintaining the health of our planet. Yet, despite its importance, research into this immense ecosystem is severely limited, with visual surveys primarily focused on just a few regions and countries. Visual imaging is one of the most critical methods to study the deep seafloor and is one of the three key pillars of ocean exploration, alongside mapping and sampling.

“As we face accelerated threats to the deep ocean—from climate change to potential mining and resource exploitation—this limited exploration of such a vast region becomes a critical problem for both science and policy,” said Dr. Katy Croff Bell, President of Ocean Discovery League, National Geographic Explorer, and lead author of the study. “We need a much better understanding of the deep ocean’s ecosystems and processes to make informed decisions about resource management and conservation.”

Using data from approximately 44,000 deep-sea dives with observations conducted since 1958, across the waters of 120 different countries, the study is the most comprehensive global estimate of deep-sea benthic observations to date and highlights the disparity in global exploration efforts. Given that not all dive records are public, the researchers assert that even if these estimates are off by a full order of magnitude, less than one-hundredth of 1% of the seafloor would have any visual records.

Remarkably, a majority of the visual observations have occurred within 200 nautical miles of just three countries: the United States, Japan, and New Zealand. Due to the high cost of ocean exploration, a mere handful of nations dominate deep-sea exploration, with five countries— the United States, Japan, New Zealand, France, and Germany—responsible for 97% of all deep-sea submergence observations. This bias in geographic coverage and operator representation has led the oceanographic community to base much of its characterization of the deep ocean ecosystem on this incredibly small and unrepresentative sample.

These findings underscore the urgent need for a more comprehensive and global effort to explore the deep ocean, ensuring that scientific research and conservation efforts accurately reflect the true extent of the seafloor. As noted in the study, if the scientific community were to make all assumptions about terrestrial ecosystems from observations of only 0.001% of that total area, they would be basing their assessments of all land-based life on Earth on an area roughly the size of Houston, Texas.

“There is so much of our ocean that remains a mystery,” says Dr. Ian Miller, Chief Science and Innovation Officer at the National Geographic Society, which contributed funding for this work. “Deep-sea exploration led by scientists and local communities is crucial to better understanding the planet’s largest ecosystem. Dr. Bell’s goals to equip global coastal communities with cutting-edge research and technology will ensure a more representative analysis of the deep sea. If we have a better understanding of our ocean, we are better able to conserve and protect it.”

To address these challenges, the researchers call for expanding exploration efforts and utilizing advancements in smaller, more affordable deep-sea tools to increase access to the deep ocean.

Funding for this study was provided in part by the National Geographic Society and Rolex Perpetual Planet Expeditions program, Lyda Hill Philanthropies, and the Cabot Family Charitable Trust.

Link: https://www.science.org/doi/10.1126/sciadv.adp8602

View original content:https://www.prnewswire.com/news-releases/only-0-001-of-the-deep-seafloor-visually-observed-in-seventy-years-revealing-gaps-and-bias-in-ocean-exploration-302448007.html

SOURCE Ocean Discovery League

Continue Reading

Technology

Proactive Data Storage Management: Open-E’s New Check-Up Service is Here

Published

on

By

Open-E Introduces Check-Up Service: Proactive Health Check for Data Storage Systems

ATLANTA, May 7, 2025 /PRNewswire/ — Open-E, a leading developer of innovative data storage software, today announced the launch of Open-E Check-Up, a professional service designed to evaluate and optimize the health of Open-E JovianDSS-powered data storage systems. This service provides businesses with a comprehensive assessment of their data storage infrastructure, identifying potential issues and ensuring peak performance and reliability.

“The efficient and secure operation of data storage systems is crucial. Open-E Check-Up Service offers a proactive approach to system maintenance, helping organizations avoid costly downtime and data loss, and being proactive, instead of reactive. The service includes a detailed evaluation process, starting with a consultation to understand specific needs. Secure data collection and analysis are then performed using log files and a dedicated spreadsheet, ensuring no direct external access to the system,” said Krzysztof Franek, CEO of Open-E. 

The Open-E Check-Up service delivers:

Detailed System Documentation: A comprehensive overview of the current storage environment.Issue Identification and Risk Assessment: A clear summary of any identified problems, along with an evaluation of the associated risks.Tailored Optimization Recommendations: Specific, actionable steps to improve system stability, efficiency, and security.Personal Consultation: An expert-led discussion of the findings and recommendations.

“Open-E Check-Up is more than just a health check; it’s a strategy for data storage excellence,” said Krzysztof Franek. “By identifying and addressing potential issues before they escalate, we empower businesses to maintain optimal performance, minimize risks, and focus on their core objectives.”

The Open-E Check-Up Service is ideal for businesses of all sizes seeking to ensure the reliability and efficiency of their data storage systems. The service is available immediately. For more information, please visit the Open-E Check-Up Service page: https://www.open-e.com/r/gb62/ or register to join the Open-E’s webinar on May 14th: https://www.open-e.com/r/rny4/

About Open-E

Open-E is the developer of the award-winning Open-E JovianDSS, a flagship software-defined storage platform renowned for its reliability, flexibility, and high performance. With over 40,000 implementations worldwide, Open-E has established itself as a trusted leader in the data storage industry. The company has garnered significant recognition for its innovative solutions, consistently meeting the demanding storage needs of businesses across various sectors. Open-E remains committed to delivering cutting-edge technology and exceptional support to its global customer base.

Press Contact

Paweł Brzeżek
Open-E, Inc.
+49 (89) 800-777-18
pawel.brzezek@open-e.com 

Logo – https://mma.prnewswire.com/media/2588722/5303745/OPEN_E_Logo.jpg

View original content to download multimedia:https://www.prnewswire.com/news-releases/proactive-data-storage-management-open-es-new-check-up-service-is-here-302447383.html

SOURCE Open-E

Continue Reading

Trending