IDEX Corporation Announces Leadership Transition

Company News
October 27, 2020

NORTHBROOK, Ill.–(BUSINESS WIRE)–Oct. 27, 2020– IDEX Corporation (NYSE: IEX) today announced that Eric D. Ashleman has been appointed Chief Executive Officer, effective December 15, 2020. Mr. Ashleman has served as IDEX’s Chief Operating Officer since February 2015 and President since February 2020. He will continue to hold the title of President in his new position. This announcement follows the decision by Andrew K. Silvernail to step down as Chief Executive Officer and as a member of the IDEX Board of Directors, effective December 15, 2020, to pursue an opportunity at a privately held company. In connection with today’s announcement, Mr. Ashleman will join the IDEX Board on December 15, 2020.

The Company also announced today that William M. Cook has been named Non-Executive Chairman of the IDEX Board, effective December 15, 2020. Mr. Cook, who joined the IDEX Board in 2008, currently serves as Lead Independent Director and a Member of the Board’s Audit Committee.

To view the full press release, click here


IDEX Reports Third Quarter Results

News Release
October 27, 2020

NORTHBROOK, Ill.–(BUSINESS WIRE)–Oct. 27, 2020– IDEX Corporation (NYSE: IEX) today announced its financial results for the three month period ended September 30, 2020.

Third Quarter 2020 Highlights

  • Cash from operations of $153.7 million led to quarterly free cash flow of $135.3 million
  • Operating margin of 22.6%; adjusted operating margin of 23.1%
  • EPS of $1.37; adjusted EPS of $1.40
  • Adjusted EBITDA margin of 26.9%


View full report at:

Toptech Systems Releases TMS7 For Improved Productivity, Flexibility

Company News
October 25, 2020

With more companies wanting to access their terminal management system using mobile devices and market demand for increased productivity and security, Toptech Systems in Longwood, Florida, recently introduced their new TMS7 terminal management system.

A terminal is an petroleum storage and distribution facility that usually serves as the step before petroleum makes it to a gas station. It’s a gas station for the gas station. Each terminal uses a software tool called a terminal management system to help them keep track of how much oil has been loaded, what’s been offloaded, and what drivers are authorized to load.

Building upon TMS6 whose original version was launched in 2004, TMS7 features several major improvements over traditional terminal automation systems, including improved productivity, flexibility, and security.

TMS7 is accessible in any web browser from any internet enabled device, whereas TMS6 had to be installed on each computer and it is not optimized for mobile use. Plus, to offer a more productive experience, Toptech engineers developed a user-friendly interface, superior security and a built-in user guide for each page of the system.

Additional features include:

– Multiple screens allow the user to create and save custom filters, plus hide and rearrange columns to quickly view relevant data.

– Powerful search feature (similar to the Google search bar) that allows customers to completely bypass the traditional menu and go straight to what they need.

– Export data more easily from key screens to excel (choose between XLSX or CSV). Users can export using their custom filters or they can export all the columns.

– Major and minor upgrades take less than 5 minutes. TMS7 enables users to upgrade their system with the click of one button. In previous versions of TMS, the upgrade process was long and complex, resulting in extended lane closures and business interruptions.

Recently, Toptech Systems completed the first TMS7 installation, which was an upgrade from TMS6 to TMS7. The customer is very pleased with the results and already working to place TMS7 in a second location.

To learn more, click here

Matcon Releases New Manual Cone Valve for US Market

Company News
October 8, 2020

An innovation recently introduced by Matcon enables manufacturers to increase output and improve efficiencies.

To overcome the issues of core flow, particle rolling, and mix segregation, Matcon, which provides Intermediate Bulk Container (IBC) technology for powder, granule and tablet processing, recently announced the release of the new Manual Cone Valve for US markets.

In the past, IBC operators using butterfly valves for powder discharge often experienced product bridging (when the product seems to stick in one place) and would spend time hammering the sides of the bins to discharge powders, resulting in damage to the container. Additionally, IBC operators sometimes found the mixed product would segregate leading to consistency issues in the end product.

Designed for Food, Beverage and Chemical applications, the new manually operated Cone Valve promotes mass-flow discharge of free-flowing powders preventing segregation of powder mixes and ensuring product quality.

All materials move at the same time so there’s no particle rolling and hence the quality of the mix is preserved.

To watch a video of the Cone Valve technology in action, click here

The Manual Cone Valve can be easily retrofitted to any existing flanged IBC outlet, providing a cost-effective way of delivering superior powder handling capabilities to an entire IBC fleet.

To learn more about the product, click here

WordPress Lightbox