Safety equipment manufacturer MSA Safety Incorporated announces plans to expand its Cranberry Township manufacturing footprint to support anticipated future growth and enable productivity improvements within the company’s gas detection product portfolio. The expansion, which includes a new 20,000-square-foot, single-story manufacturing facility adjacent to the company’s existing building in Cranberry Woods Office Park (north of Pittsburgh, Pa.), will be used exclusively for assembly work connected to the company’s line of gas detection products. The new building is scheduled to open in mid-2021. Advanced manufacturing processes “MSA’s portable instrument and fixed gas and flame detection (FGFD) businesses have been strong drivers of MSA’s growth in recent years,” said Nish Vartanian, MSA Chairman, President and CEO. “In Cranberry Township, one of the outcomes of this growth has been a steady and gradually increasing need for expansion and reconfiguration of our manufacturing space. With this investment, we can leverage a larger operations footprint to better meet the needs of our customers while creating an opportunity to add new manufacturing jobs within our region in the years ahead.” MSA’s 320-acre Cranberry Township campus combines class-A office space MSA’s manufacturing facility in Cranberry Township has been home to the company’s gas detection ‘center of excellence’ since the building was opened in 1986. In 2010, the building was renovated to accommodate the company’s relocated Corporate Headquarters staff. Today, MSA’s 320-acre Cranberry Township campus combines class-A office space with advanced manufacturing processes and research and development labs to serve customers around the world. Flame gas detection products Mr. Vartanian noted that the investment will enhance the Cranberry plant’s role as MSA’s Center of Excellence in gas detection technology. “As a market leader in both the portable and fixed gas and flame gas detection products, we’re excited to be able to invest in this area of our business in Western Pennsylvania, where MSA employs approximately 1,250 people,” Mr. Vartanian said. “We’ve had tremendous success with our ALTAIR portable gas monitor line, our XCell Sensor technologies, the recent launch of our groundbreaking Ultima 5000 Series Gas Monitors, and the deployment of new connected technologies via our Safety io subsidiary. All of these innovations originated out of Cranberry Township, and it’s exciting to know that we are still expanding on MSA’s 106-year legacy of manufacturing excellence in our region,” he concluded.
The Board of Directors of MSA Safety Inc. announced the election of Nish J. Vartanian to the position of Chairman, succeeding William M. Lambert, who will continue to serve the company as a Director. Mr. Vartanian, 60, is the sixth chairman in the history of the 106-year-old Pittsburgh-based company - a global provider in the development and manufacture of innovative technologies that help protect people's health and safety, and facility infrastructures. Mr. Vartanian became an MSA director in 2017 and was elected President and Chief Executive Officer in May, 2018. He will continue in his role as MSA’s President and CEO. Design engineer to Director “I want to thank and recognize Bill Lambert for his leadership, integrity and governance over many years, as well as his longstanding commitment to the business and mission of MSA,” Mr. Vartanian said. Mr. Lambert, who joined the company in 1981 as a design engineer, became a Director of MSA in 2007 and was elected Chairman in 2015. Mr. Lambert served as MSA’s Chief Executive Officer from to 2008 up until his retirement in 2018. As Chairman, President and CEO, Mr. Vartanian will continue to drive the future performance of the company and its focus on pioneering innovation in safety product technologies. “Our strategic vision is built on leveraging our talent and product portfolio to achieve leadership positions in key geographies and market segments around the world,” Mr. Vartanian said. “Over the years, our team has strengthened MSA’s global brand as a leader in the development of game-changing technologies that enhance worker safety. I am grateful for the Board’s confidence and am extremely proud to have the opportunity to help continue that legacy,” he said. Fixed Gas and Flame Detection Mr. Vartanian has served in a variety of capacities, including U.S. National Sales Manager Mr. Vartanian joined MSA in 1985 as a sales intern and shortly thereafter moved into a sales position working in the Atlanta, Ga., area. Over his 35-year career with the company, Mr. Vartanian has served in a variety of capacities, including U.S. National Sales Manager; Director of North America Commercial Sales and Distribution; Vice President and Global Business Leader for MSA's Fixed Gas and Flame Detection business; Vice President of MSA North America; and Senior Vice President and President, MSA Americas. A graduate of the University of Massachusetts Amherst, Mr. Vartanian received a bachelor's degree in business management in 1983. In addition to his MSA responsibilities, Mr. Vartanian serves on the Board of Trustees for the Manufacturers Alliance for Productivity and Innovation (MAPI), the Board of Trustees for the International Association of Firefighters (IAFF) Foundation, and the Board of Trustees of the Allegheny Conference on Community Development (ACCD), chairing the Infrastructure Committee. Challenging COVID-19 environment Robert A. Bruggeworth, the Board’s lead independent director, commented, “Nish has done an excellent job in guiding the company over the past two years, and particularly so through this challenging COVID-19 environment. We wish to thank Bill for his outstanding leadership as Chairman, and in Nish, we have an experienced and dynamic leader in whom our entire Board has full confidence.”
Global safety equipment manufacturer MSA Safety Incorporated reported results for the first quarter of 2020. Quarterly Highlights Revenue was $341 million, increasing 5 percent from a year ago on a reported basis and 7 percent on a constant currency basis. GAAP operating income was $59 million or 17.2 percent of sales, compared to $32 million or 9.9 percent of sales in the same period a year ago. Adjusted operating income was $64 million or 18.7 percent of sales, compared to $58 million or 17.9 percent of sales in the same period a year ago, driven by gross margin expansion and operating expense leverage. GAAP earnings were $44 million or $1.11 per diluted share, compared to $23 million or $0.59 per diluted share in the same period a year ago. Adjusted earnings were $46 million or $1.18 per diluted share, compared to $44 million or $1.14 per diluted share in the same period a year ago. Adjusted earnings include $0.04 per share of headwind from higher noncash pension expense, in line with the company's expectations. Debt balance and respirator masks donation MSA's debt balance was $372 million at quarter end, reflecting 1.3x adjusted EBITDA on a gross basis or 0.8x adjusted EBITDA on a net basis. With more than $120 million in cash and significant room available under its current debt covenants, the company has ample liquidity and flexibility to maintain its balanced capital allocation strategy. In response to the COVID-19 outbreak, MSA has donated more than 140,000 disposable respirator masks - sourced from third parties - to various medical institutions around the world. In addition to supporting the communities where MSA operates, the company‘s pandemic response plan includes four key priorities: protecting the health and safety of MSA associates, enabling business continuity, expanding manufacturing capacity of MSA’s existing air-purifying respirator portfolio, and managing its operating expenses and capital structure. Revenue increase even under COVID-19 pandemic “Our first quarter results reflected strong execution and our global associates’ dedication to MSA’s mission as a safety leader,” commented Nish Vartanian, MSA President and CEO. “Against the backdrop of the COVID-19 outbreak, the MSA team was able to deliver a record first quarter which included 7 percent revenue growth and incremental margins over 35 percent. I'm particularly proud of our team's ability to deliver that level of performance while also enacting a comprehensive response plan that positions MSA to navigate this challenging time and the uncertainties associated with the COVID-19 landscape.” Returns from restructuring programs continued to drive MSA’s profitability improvements Diversified product portfolio Mr. Vartanian commented that the company’s quarterly revenue growth reflects strong returns on its research and development projects as well as a diversified product portfolio. “Our market leading innovations supported growth across our core products, while higher levels of demand for air-purifying respirators demonstrated the defensive nature of our product offering," he said. "In response to the global shortage of personal protective equipment, we are making investments to significantly ramp up manufacturing capacity associated with the air-purifying respirator side of our business.” Returns from restructuring programs continued to drive MSA’s profitability improvements, particularly in its International segment where adjusted operating margin increased by 170 basis points in the quarter. “Our previous restructuring investments were designed to enable a streamlined cost structure in our International business. It’s encouraging to see the momentum as we continue to improve our segment profitability profile,” he said. Increased Demand for fire-safety products For the month of April, MSA’s total order pace remained healthy as strong demand for respirators and firefighter safety products more than offset a downturn in short cycle industrial-based products. "While we expect a challenging environment in the near term for certain key end markets, we continue to manage through this crisis alongside our customers, supply chain partners and communities." "Our ongoing focus on managing our cost structure, maintaining a strong balance sheet, and leveraging our diversified portfolio positions us well to continue to fulfill our mission of protecting worker health and safety. Through these unprecedented times, the MSA mission is more relevant than ever. My thanks and appreciation go out to each of our 5,000 associates around the world, who are living that mission every day and doing all they can to help us create a safer world for all," Mr. Vartanian concluded.
Global safety equipment manufacturer MSA Safety Incorporated announces that Glennis Williams has joined the company as Vice President and Chief Human Resource Officer. New to MSA, Ms. Williams joins the company’s Executive Leadership Team and succeeds Paul Uhler, who will retire from the organization in May. With more than 20 years of international HR experience, Ms. Williams comes to MSA from Hillenbrand Inc., an Indiana-based manufacturing conglomerate that owns a number of diverse operating companies, including the recently-acquired Milacron. Strategic organizational goals While at Hillenbrand, Ms. Williams led efforts to transform HR from a service delivery function to a driver of strategic talent and business outcomes, with primary focus on aligning the company’s people strategies with Hillenbrand’s long-term organizational goals. Before Hillenbrand, she spent three years with Komatsu as Vice President of Human Resources Prior to Hillenbrand, Ms. Williams served as Vice President of Global Human Resources for Welbilt, Inc., where she spearheaded the development of a diversity and inclusion framework that fully aligned with the company’s strategic organizational goals and business needs. Before Hillenbrand, she spent three years with Komatsu (formerly Joy Global) as Vice President of Human Resources, and 10 years with Westinghouse Electric Co. where she held several roles of increasing responsibility. Importance of talent development “As we look to the future of MSA, having continued strong leadership in HR is more important than ever, especially given the importance of talent development to our own long-term growth goals,” said Nish Vartanian, MSA President and CEO. “We are pleased to have Glennis become a part of the MSA team, for she brings to MSA a wealth of strong HR experience and perspective.” Ms. Williams earned her bachelor's degree from Idaho State University and her MBA from the University of Phoenix. She also holds certifications as a Six Sigma Black Belt, Senior Professional in HR and Global HR professional.
MSA Safety Incorporated the global provider in the development, manufacture and supply of safety products that protect people and facility infrastructures, announced that Nish Vartanian, President and CEO, and Kenneth Krause, Senior Vice President, CFO and Treasurer, will host the company’s fourth quarter earnings conference call on Thursday, February 20, 2020. Investors and interested parties will have the opportunity to listen to the conference call live via the Internet. A replay of the conference call will be available at the company website for 90 days. A press release outlining MSA’s fourth quarter and full year financial results will be distributed on Wednesday, February 19, 2020 after the market closes.
MSA Safety Incorporated President and CEO Nish Vartanian announce that, in a planned management succession, Stephanie L. Sciullo will be promoted to Vice President and Chief Legal Officer of the company. Ms. Sciullo will succeed Douglas K. McClaine who, after 35 years of service to the company, has decided to retire in early to mid-2020. The new assignment for Ms. Sciullo will be effective January 1, and she will report directly to Mr. Vartanian. In-House Legal Team Stephanie quickly established herself as a key contributor to our in-house legal team" “In connection with Doug McClaine’s retirement, I am pleased to announce the promotion of Stephanie Sciullo,” said Mr. Vartanian. “Since joining the company in 2010, Stephanie quickly established herself as a key contributor to our in-house legal team, and MSA overall. Her commitment to MSA, our mission, and the legal community in western Pennsylvania are worth emulating and I know Stephanie will serve MSA very well in the years ahead.” Commenting on the retirement of Mr. McClaine, Mr. Vartanian expressed gratitude for the many contributions Mr. McClaine has made to MSA’s success over his nearly four-decade tenure with the company. “We greatly appreciate Doug’s dedication to the mission of MSA,” he said. Complex Legal Requirements “Under Doug’s leadership, our company was able to ensure the successful collection of monies owed by various insurance carriers on insurance receivable assets. In addition, Doug played a key role in helping MSA navigate through the many complex legal requirements mandated for publicly-held companies in 2002 by the Sarbanes-Oxley Act.” Doug also guided MSA through the various legal aspects related to our transition" “Doug also guided MSA through the various legal aspects related to our transition from the American Stock Exchange to the New York Stock Exchange in 2004,” Mr. Vartanian noted. “It is with sincere appreciation that I acknowledge and salute these and many other accomplishments and improvements Doug has made to MSA, and all of us wish him and his family the best as he enters the next and well-deserved phase of life,” Mr. Vartanian said. Company-Wide Litigation Portfolio Most recently, Ms. Sciullo served as Deputy General Counsel, where she managed a company-wide litigation portfolio for a wide range of matters, with a focus on nationwide coordination of complex litigation and associated insurance recovery litigation. Over her nearly 10 years with the company, Ms. Sciullo has delivered multi-million-dollar cost savings through innovative outside counsel management and has saved the organization more than $10 million by applying lean manufacturing principles to litigation management. For her efforts in this area, Ms. Sciullo was recognized in 2014 as a Value Challenge Champion by the Association of Corporate Counsel. In addition to her MSA responsibilities, Ms. Sciullo has worked to better the Pittsburgh inhouse legal community as a leader in professional industry associations and an advocate for pro bono work. Encouraging Business-Minded Action Ms. Sciullo was recognized by the Pittsburgh Business Times as one of the 10 most accomplished inhouse attorneys As an example, in 2013, Ms. Sciullo designed and launched MSA’s annual Wills for Heroes event, a national program created after September 11 where volunteer lawyers provide estate planning documents to first responders free-of-charge. MSA now sponsors an annual Wills for Heroes event for local Pittsburgh-based firefighters to provide complete and notarized estate planning documents. As an adjunct professor of law at the University of Pittsburgh and Duquesne University, Ms. Sciullo designed a course offered at both schools – called In-House Counsel in Modern Corporations – to encourage business-minded action in the legal community. In 2017, Ms. Sciullo was recognized by the Pittsburgh Business Times as one of the 10 most accomplished inhouse attorneys in Western Pennsylvania through the In-House Counsel General Excellence Awards. Prior to joining MSA, Ms. Sciullo practiced with Reed Smith, LLP specializing in litigation. She is a graduate from the University of Pittsburgh School of Law and graduated summa cum laude with a bachelor’s degree in politics and philosophy from the University of Pittsburgh.
MSA Safety Incorporated, a global presence in the development, manufacture and supply of safety products that protect people and facility infrastructures, announced that Nish Vartanian, President and Chief Executive Officer, and Kenneth Krause, Senior Vice President, Chief Financial Officer and Treasurer, will present at the Stifel 2019 Cross Sector Insight Conference at the InterContinental Hotel in Boston on Monday, June 10, 2019 from 1:15 p.m. – 1:45 p.m. ET. A real-time audio and slide webcast of the presentation can be accessed at the company’s official website. Following the presentation, a replay of the webcast will be available for 90 days one the same link, under the “News and Events” menu.
Global safety equipment manufacturer MSA Safety Incorporated announces it has completed its acquisition of Sierra Monitor Corporation in an all-cash transaction valued at $33 million. Based in Milpitas, California, in the heart of Silicon Valley, Sierra Monitor is a provider of fixed gas and flame detection (FGFD) instruments and Industrial Internet of Things (IIoT) solutions that connect and help protect high-value infrastructure assets. Enhancing Worker safety and accountability Sierra Monitor has annual revenue of approximately $20 million and approximately 80 employees. The acquisition enables MSA to accelerate its strategy to enhance worker safety and accountability through the use of cloud technology and wireless connectivity; a key focus of the company’s recently established Safety io subsidiary. We’re very excited to officially welcome Sierra Monitor to the MSA family" MSA launched Safety io in 2018, primarily to leverage the capabilities of its portable gas detection portfolio as it relates to cloud connectivity. “We’re very excited to officially welcome Sierra Monitor to the MSA family,” said Nish Vartanian, MSA President and CEO. “Today, the safety industry is placing greater focus on connectivity and remote monitoring to enhance worker safety. With SMC on board, we can fast track our connectivity technology from Safety io into infrastructure applications for FGFD systems,” Mr. Vartanian said. Highly Skilled Integration Team Over the past several weeks, Mr. Vartanian said the company has been focused on developing a cross-functional integration process designed to ensure the success of the acquisition. “At the center of this process is a highly skilled integration team comprised of functional area business leaders from both organizations,” Mr. Vartanian commented. “As we prepared for the closing of this transaction, this team created a detailed, process-driven blueprint to ensure the integration is fully planned and effectively executed. Now we’re looking forward to putting this plan into action,” he concluded.
Given the unpredictable and hazardous nature of firefighting, where seconds could mean the difference between life and death, there’s nothing more important for firefighters than being connected as a team. That’s why MSA Safety Incorporated, the pioneer in firefighter safety, today announced a breakthrough innovation to help make firefighting a safer profession. At the annual Fire Department Instructor’s Conference (FDIC) in Indianapolis, Ind., the Pittsburgh-based company today unveiled LUNAR – a small, wireless, cloud-ready device designed to provide higher levels of protection for firefighters through enhanced vision, improved situational awareness and team connectivity. Stand-Alone Device LUNAR’s proprietary technology keeps firefighters connected in a broad range of ways LUNAR represents the latest addition to a suite – or ecosystem – of MSA products that enable a level of accountability never before achieved in the fire service industry. When used together on a fireground or while responding to any other type of hazard, this suite of products provides a new platform for firefighter safety the company has branded as ‘Connected Firefighter.’ Designed for use as a stand-alone device, or as part of an MSA SCBA system, LUNAR’s proprietary technology keeps firefighters connected in a broad range of ways, including: Person-to-person ranging, which enables firefighters to find each other using distance and direction data, even when one may be incapacitated; GPS location, which provides safety officers or incident commanders a birds-eye view of all LUNAR devices on scene; Personal thermal imaging, which is visible through an immersive 3.5” high-resolution display; and A motion-detected, man-down alarm, which provides an added value for those responding to fire calls where an SCBA is not deployed. Enhancing Firefighter Safety The MSA Hub, a small, modular device that enables on scene data and asset management “Accounting for all firefighters on a fire ground has been a consistent need expressed by the fire service profession, but it’s also been a challenge for many manufacturers to solve,” said Jason Traynor, General Manager of Global Respiratory Protection and Fire Helmets for MSA. “When we looked at what we could do to enhance firefighter safety, we listened to feedback from thousands of firefighters. We then took those insights and used a holistic approach to build a connected ecosystem of products where the sum of the individual components is the key to keeping firefighters better connected – and safer – than ever before.” Other products comprising the Connected Firefighter platform include: The company’s G1 SCBA; The MSA Hub, a small, modular device that enables on scene data and asset management; and The MSA Cloud Platform, which gives incident commanders the ability to evaluate and manage multiple situations at one time from any location. Firefighter Safety Equipment Technology LUNAR and our Connected Firefighter platform are great examples of how we’ve continued to invest in R&D" According to Nish Vartanian, MSA President and CEO, the introduction of LUNAR – and the potential it represents – delivers on the vision of having it’s G1 SCBA serve as a flexible platform for the future. “When we introduced the G1 SCBA in 2014, we did so with the goal of making it adaptable to new technology as soon as it becomes available which, in turn, raises the level of firefighter safety on a continuous and rolling basis,” commented Mr. Vartanian. “LUNAR and our Connected Firefighter platform are great examples of how we’ve continued to invest in R&D and technology to make this vision a reality.” In addition to LUNAR, MSA introduced two other new products that also represent a step forward in the evolution of firefighter safety equipment technology. These are: MSA’s Globe Pant System, which offers four new ‘fits’ of turnout pants – Slim, Regular, Relaxed, and Women’s – that enhance firefighters’ performance and comfort while ensuring their protection and safety; and MSA’s Globe Guard™ System, which are optional components for turnout coats and pants that are designed to help reduce exposure to toxic substances on the job while still providing high breathability, moisture management, and flame resistance. Head-To-Toe Protection The company expects to begin production of LUNAR in Summer 2020 Also on display will be the company’s game-changing G1 SCBA, breakthrough integrated Thermal Imaging Camera (iTIC), ATHLETIX™ turnout gear that deploys new material technology with unique stretch fabrics to provide a body-contoured fit that is lighter weight with less bulk and more flexibility, and SUPRAFLEX™ boots, a lighter weight firefighter boot that provides comfort and unprecedented flexibility by incorporating continuous segmented flex panels. “As a leading manufacturer providing firefighters with head-to-toe protection, our focus on connectivity is a great example of how technology can enable the integration of other MSA products into this Connected Firefighter platform,” continued Mr. Vartanian. “As we continue to deliver on our mission of protecting people at work, I feel we are uniquely positioned to exceed the expectations of those who put their trust in the MSA brand and do so in a way they’ve come to expect from MSA – with speed, agility and customer-driven innovation.” The company expects to begin production of LUNAR in Summer 2020.
MSA Safety Incorporated, the globally renowned developer, manufacturer and supplier of safety products that protect people and facility infrastructures, has announced that Nish Vartanian, President and CEO, has been elected to the International Association of Fire Fighters (IAFF) Foundation’s Board of Directors. The IAFF Foundation, a non-profit organization based in Washington D.C., provides charitable support and direct assistance to IAFF fire fighters and their families in the wake of natural or man-made disasters, scholarships to the children of fallen fire fighters, and burn assistance to members burned in the line of duty. Enhancing firefighters’ safety “Nish has always been an ardent supporter of fire fighters,” said Harold A. Schaitberger, IAFF Foundation Chairman. “As a new member of our Foundation’s board, he will bring fresh ideas, a unique perspective, and invaluable experience that will help our fire fighters and their families in their time of need.” Nish Vartanian has more than 30 years of experience with MSA and has served the company in a variety of capacities Nish Vartanian has more than 30 years of experience with MSA and has served the company in a variety of capacities. These include U.S. National Sales Manager; Director of North America Commercial Sales and Distribution; Vice President and Global Business Leader for MSA's Fixed Gas and Flame Detection business; Vice President of MSA North America; and Senior Vice President and President, MSA Americas. Protecting people at workplace Mr. Vartanian’s election to the IAFF Foundation’s Board aligns well with MSA’s mission of protecting people at work. Additionally, both organizations share a direct connection to the fire service and both are committed to protecting the health, safety, and well-being of people. Most recently, when hurricane Florence made landfall in North Carolina, MSA and the IAFF Foundation were there, providing direct assistance to those impacted by the storm. “Being elected to the Board of Directors for the IAFF Foundation is an incredible honor,” said Nish Vartanian. “As CEO of a company that has deep roots in the fire service, I am excited to have this opportunity and I look forward to collaborating with other Board members to further the work of the IAFF Foundation, and the positive impact they make on so many lives.”