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Helios Innovation Strategy Leads to Record Product Line Expansion of Cartridge Valve Technologies
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Helios Technologies (NYSE: HLIO) announced record achievements in its Cartridge Valve Technologies (CVT) business with 22 new product launches in 2021, marking the highest in recent history. The launch of integrated Sun and NEM products surpassed forecasts by 200% within 48 hours. The acquisition of NEM S.r.l in July 2021 aims to diversify the customer base and enhance technology offerings. CEO Josef Matosevic highlighted the company's efforts in expanding market share through innovation and customer satisfaction, with plans for continued product rollouts in 2022.
Positive
22 new product launches in 2021, highest in recent history.
Customer demand for new products exceeded forecasts by 200%.
Acquisition of NEM S.r.l. enhances CVT customer base and technology.
Negative
None.
Achieved a record of 22 new product launches in 2021, an impressive year of innovation for the Cartridge Valve Technologies (“CVT”) business
Customer demand for the integrated Sun and NEM product launch exceeded forecast by 200% within 48 hours of launch
SARASOTA, Fla.--(BUSINESS WIRE)--
Helios Technologies, Inc. (NYSE: HLIO) (“Helios” or the “Company”), a global leader in highly engineered motion control and electronic controls technology for diverse end markets, announced extensive R&D capability, advanced design tools, and the combined CVT family expertise drove product development teams to exceed expectations by launching 22 new products in 2021. This is the largest number of new product releases within Helios’ CVT business (part of the Hydraulics segment) in recent history. The significant expansion of the product line is expected to provide a flywheel for organic growth in coming years.
Helios Technologies also welcomed NEM S.r.l to the CVT family in July 2021. NEM diversifies the CVT customer base, deepens geographic reach in Europe, and provides enhanced electro-hydraulic technology offerings. NEM’s products were immediately leveraged by successfully adding the first Sun Hydraulics standard cavity to its already extensive electro-hydraulic portfolio. Demand for its 3-position, 4-way cartridge valve was so strong that 48 hours after product launch, orders exceeded internal forecast by over 200%. Subsequent product additions are planned throughout 2022. Helios expects to continue to expand NEM electro-hydraulic products through the Hydraulics segment’s global distribution system enabling expanded access to Sun’s legendary quality and support.
Josef Matosevic, the Company’s President and Chief Executive Officer commented, “We are gaining market share in our Hydraulics segment by meeting or exceeding our customer’s expectations, maintaining top-tier lead times, and we are innovating to create breakthrough solutions to solve complex problems for our addressable markets.”
The Hydraulics segment’s mission is to deliver innovative fluid power solutions that enhance the world. That is exemplified through CVT’s new PPT (product preceding technology) program. The PPT program incubates forward-thinking products that can create extraordinary value for customers with solutions that are more intelligent, efficient, and capable than today’s smart and connected applications. Initial products are set to start launching during 2022.
About Helios Technologies
Helios Technologies is a global leader in highly engineered motion control and electronic controls technology for diverse end markets, including construction, material handling, agriculture, energy, recreational vehicles, marine, health, and wellness. Helios sells its products to customers in over 90 countries around the world. Its strategy for growth is to be the leading provider in niche markets, with premier products and solutions through innovative product development and acquisition. The Company has paid a cash dividend to its shareholders every quarter since becoming a public company in 1997. For more information please visit: www.heliostechnologies.com.
FORWARD-LOOKING INFORMATION
This news release contains “forward‐looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward‐looking statements involve risks and uncertainties, and actual results may differ materially from those expressed or implied by such statements. They include statements regarding current expectations, estimates, forecasts, projections, our beliefs, and assumptions made by Helios Technologies, Inc. (“Helios” or the “Company”), its directors or its officers about the Company and the industry in which it operates, and assumptions made by management, and include among other items, (i) the Company’s strategies regarding growth, including its intention to develop new products and make acquisitions; (ii) the effectiveness of creating the Center of Engineering Excellence; (iii) the Company’s financing plans; (iv) trends affecting the Company’s financial condition or results of operations; (v) the Company’s ability to continue to control costs and to meet its liquidity and other financing needs; (vi) the declaration and payment of dividends; and (vii) the Company’s ability to respond to changes in customer demand domestically and internationally, including as a result of standardization. In addition, we may make other written or oral statements, which constitute forward-looking statements, from time to time. Words such as “may,” “expects,” “projects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” variations of such words, and similar expressions are intended to identify such forward-looking statements. Similarly, statements that describe our future plans, objectives or goals also are forward-looking statements. These statements are not guaranteeing future performance and are subject to a number of risks and uncertainties. Our actual results may differ materially from what is expressed or forecasted in such forward-looking statements, and undue reliance should not be placed on such statements. All forward-looking statements are made as of the date hereof, and we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Factors that could cause the actual results to differ materially from what is expressed or forecasted in such forward‐looking statements include, but are not limited to, (i) supply chain disruption and the potential inability to procure goods; (ii) conditions in the capital markets, including the interest rate environment and the availability of capital; (iii) inflation (including hyperinflation) or recession; (iv) changes in the competitive marketplace that could affect the Company’s revenue and/or cost bases, such as increased competition, lack of qualified engineering, marketing, management or other personnel, and increased labor and raw materials costs; (v) risks related to health epidemics, pandemics and similar outbreaks and similar outbreaks, including, without limitation, the current COVID-19 pandemic, which may among other things, adversely affect our supply chain, material costs, and work force and may have material adverse effects on our business, financial position, results of operations and/or cash flows; and (vi) new product introductions, product sales mix and the geographic mix of sales nationally and internationally. Further information relating to factors that could cause actual results to differ from those anticipated is included but not limited to information under the heading Item 1. “Business” and Item 1A. “Risk Factors” in the Company’s Form 10-K for the year ended January 2, 2021.
For more information, contact:
Tania Almond Vice President of Investor Relations, Corporate Communication and Risk Management
(941) 362-1333
tania.almond@HLIO.com
