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Smurfit Westrock, formed from the merger of Smurfit Kappa and WestRock, has started its primary listing on the New York Stock Exchange (NYSE) under the ticker 'SW' and a standard listing on the London Stock Exchange (LSE) under 'SWR.' The company operates in 40 countries with over 100,000 employees, focusing on sustainable and innovative packaging solutions. CEO Tony Smurfit emphasized the new entity's leadership in sustainable packaging, while CFO Ken Bowles highlighted the geographic and technological advantages. Trading on the LSE began today at 8:00 a.m. BST and will start on the NYSE at 9:30 a.m. EDT, marked by a bell-ringing ceremony.
Sierra Wireless (NASDAQ: SWIR) has resumed production following a ransomware attack that temporarily halted operations. The company engaged top cybersecurity firms for incident response and investigation. Sierra Wireless maintains that its internal systems were affected but believes that customer products and services were not compromised. They are actively working to restore operations and emphasize their commitment to security.
Sierra Wireless (NASDAQ: SWIR) reported a ransomware attack on its internal IT systems on March 20, 2021, impacting manufacturing and operations. The company immediately activated cybersecurity protocols and believes the attack mainly affected internal systems, with no immediate threat to customer-facing products. Production has been halted, and the company has withdrawn its First Quarter 2021 guidance. Sierra Wireless is currently working to restore its IT systems and resume operations, asking for patience from customers and partners during this recovery period.
Sierra Wireless will release its fourth quarter financial results for the period ending December 31, 2020, on February 23, 2021. A conference call hosted by President and CEO Kent Thexton and CFO Sam Cochrane will occur at 5:30 p.m. Eastern Time the same day. Participants can join the call via a toll-free number or by accessing a live webcast, which will be available for one year post-call. Sierra Wireless is a leading IoT solutions provider, focusing on integrated solutions to enhance operational efficiency and revenue streams in the connected economy.
Sierra Wireless (NASDAQ: SWIR) has partnered with Virocom to provide smart locker applications using its AirLink LX60 routers and Smart Connectivity Services. This solution ensures 100% uptime for contactless retail services, enabling secure customer interactions during the COVID-19 pandemic. The technology facilitates seamless connections to Wi-Fi, with LTE failover, and aims to reduce total cost of ownership by up to 40%. This initiative highlights Sierra Wireless' commitment to enhancing operational efficiency for businesses amidst evolving consumer needs.
Sierra Wireless (NASDAQ: SWIR; TSX: SW) announced the retirement of President & CEO Kent Thexton, effective June 30, 2021. The Board is searching for his successor, aided by an executive search firm. Under Thexton's leadership since May 2018, the company transformed into an end-to-end IoT solutions provider, increasing recurring revenue from 12% to 26% of total revenue. Sierra Wireless anticipates Q4 2020 revenue exceeding analysts' expectations of $116.5 million and expects $170 million in cash with no debt by year-end.
Sierra Wireless (NASDAQ: SWIR, TSX: SW) has appointed James Armstrong as Senior Vice President and General Manager of Enterprise Solutions. Armstrong, previously COO at Spirent Communications, brings extensive experience in revenue growth and operational excellence. His leadership aims to strengthen Sierra's position in the growing IoT market, particularly in 5G connectivity. The Enterprise Solutions segment generated over $140 million in revenue in the last twelve months ending September 30, 2020. Armstrong expressed enthusiasm about capitalizing on opportunities in IoT and 5G.
Sierra Wireless (NASDAQ: SWIR) announced that Thermigas is utilizing its Octave™ solution to enhance uptime and decrease maintenance costs for industrial water heaters. The collaboration with Oxelar led to the deployment of a preventive maintenance IIoT application in under two months, enabling real-time alerts to prevent equipment downtime. Thermigas aims to improve customer loyalty and create additional revenue through predictive maintenance as a service, while the application enhances operational efficiency by streamlining maintenance processes.