MES acquired the manufacturing portion of the Versatech business, which provides customers with more versatility, faster delivery times, and cost-effective solutions. Expand the company’s last-mile manufacturing and last-mile processing solutions to provide faster delivery times for OEM, Tier 1 and Tier 2 customers.
Columbus, Ohio, August 18, 2021/PRNewswire-PRNewswire/-”We need to shorten delivery time without sacrificing quality.” “We cannot obtain high-quality parts domestically, so Production is actually at a standstill.” “The extended or even average delivery time is not enough to keep us ahead of the competition.”
No one likes to wait. However, for original equipment manufacturers (OEMs) and Tier 1 and Tier 2 suppliers, waiting for parts has become “business as usual”, but unfortunately, this happens too frequently. At best, waiting for parts can be frustrating. Worst of all, the cost of waiting for parts is catastrophic.
MES, Inc. today announced the acquisition of Versatech, LLC, a CNC machining manufacturer headquartered in the United States, to expand the company’s Last Mile manufacturing and Last Mile Machining solutions to provide faster delivery times for OEM, Tier 1 and Tier 2 customers.
“If you are a manufacturer, you can’t afford a long lead time. It’s that simple,” said Hiten Shah, founder and president of MES. “Manufacturers, especially those with critical applications, need powerful solutions and faster delivery times to beat competitors. Therefore, we have developed a strategy to dramatically increase in-house processing capabilities. Shortening the so-called “industry standard” delivery time is exactly in line with what Versatech has done in their CNC machining workshop with a team of first-class operators and engineers.”
The acquisition of Versatech expands MES’s already powerful CNC machining capabilities to 30 machines, including vertical and horizontal milling machines, lathes, and single-head, double-head and multi-head machine tools. The acquisition also enhances MES’s ability to provide smooth, timely, and seamless production and transfer tools for small and high-volume parts, while maintaining the high quality of MES by adopting a risk mitigation method called PPAP (Production Part Approval Process) standard.
The Versatech machining shop will be integrated under the name Metrics Works and will continue to produce at the Effingham, Illinois, plant and all its employees. MES plans to transform the Effingham factory into a smart factory with the latest equipment technology, fast tools, flexible units, preventive maintenance, production monitoring software and machine displays.
About MES MES is a leading global manufacturer and supply chain management leader dedicated to finding the best manufacturing sources for its OEM, Tier 1 and Tier 2 customers. Through its extensive overseas ISO-certified supplier network, MES provides first-class manufacturing, finishing, assembly, JIT delivery and warehousing services to customers in the transportation, electric vehicles, construction, agriculture, electrical and power industries. MES is headquartered in Columbus, Ohio It also has offices in India (Mumbai), China (Ningbo and Shenzhen), Poland and Mexico.
Metrics Works is a series of factories close to customers in the United States and Mexico. It uses the latest equipment and a strong technical team to provide timely manufacturing and transportation for its OEM and first-tier customers.
(Bloomberg)-Ola Electric Mobility Pvt’s new electric scooter factory aims to produce 10 million two-wheeled vehicles each year by 2022, accounting for 15% of the global electric scooters, completely operated and managed by women. The electric car business led by Bhavish Aggarwal is the follow-up business of the online car-hailing startup Ola, which is expected to debut on the open market next year. His latest corporate vision is to provide the world with “clean travel, a negative carbon footprint, and an inclusive workforce.
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WASHINGTON (Reuters)-The civil trial of three former Wells Fargo employees for their role in a scandal involving false accounts began on Monday, a rare public confrontation between the nation’s top banking regulator and former bank executives. In front of the OCC internal judge in Sioux Falls, South Dakota, the U.S. Office of the Comptroller of the Currency (OCC) is competing with executives. The office said that the San Francisco bank’s misconduct should be part of the bank’s misconduct. Responsible, the hearing is expected to last at least two years. week. For a long time, Wells Fargo’s pressure-selling culture scandal led employees to open millions of unauthorized or fraudulent customer accounts, causing the bank to suffer billions of dollars in civil and criminal penalties, and severely damaged its reputation.
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(Bloomberg)-A woman with 5 million followers on Pinterest Inc. claimed in the lawsuit that the company’s founders Ben Silbermann and Paul Sciarra used her ideas to help create a social media platform and never paid her Any remuneration. Christine Martinez, a digital marketing strategist living in Oakland, California, stated in a state court filing on Monday that when Silbermann asked her to help “save a failed shopping app,” she was her friend. The app Later became Pinterest. Martinez
ExxonMobil announced that it has once again achieved high-quality oil recovery in the Stabroek block in Guyana, which is another sign that this South American country is preparing to become an important player in the global market
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The office stated that the validity period of the aircraft maintenance contract is 2021 fiscal year, with options for 2022 and 2023, aimed at reducing maintenance costs. In addition, Lockheed said that the contract will include support for base and warehouse maintenance, pilot and maintenance personnel training, as well as supply chain management for parts repair and replenishment.
A Real Money subscriber recently sent me an email about Netflix, and pointed out some progress on the chart, and asked my opinion. In the following daily chart of the NFLX, we can see that the price finally broke through the long sideways pattern in September.
Although natural gas prices have soared, which has stimulated investors’ high interest in oil and gas stocks, OPEC is still unexpected.
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(Bloomberg)-The energy crunch in Europe is deepening. After the United States warned that the European continent was not prepared to deal with what might be a terrible winter, natural gas and electricity prices set new records. There are still a month or so before the heating season, Europe does not have enough natural gas storage locations, nor does it build up stocks fast enough. The special envoy for energy security of the US State Department Amos Hochstein (Amos Hochstein) said on Friday that he is concerned about energy supplies.
The members of the digital currency panel at the Wall Street SALT conference said on Monday that cryptocurrency executives should work with regulators instead of becoming a rival to the industry’s development potential. Kevin O’Leary, who recently invested in WonderFi, a cryptocurrency aggregation platform, called on the leaders of these companies to adopt a accommodating tone, saying that the current lack of compliance in the field discourages investors. O’Leary invested in entrepreneurs in the business reality show “Shark Tank” and he spoke at the SALT event, one of the major hedge fund industry conferences held in New York.
Rivian, an electric truck manufacturer, plans to go public in the fall and is seeking a valuation of tens of billions of dollars. But why are investors excited about this IPO, and what makes their products different from other electric vehicle startups? George Downs of The Wall Street Journal explained. Illustration: George Downs
Warren Buffett may have dumped some stocks in a panic – but he is still ahead of the S&P 500 in at least one aspect: pure profitability.
Britain’s largest lung disease charity has urged shareholders to block the tobacco company’s large-scale acquisition of drugmaker Vectura by the deadline on Wednesday.
Many large companies welcome the directive, while small businesses with about 100 employees are worried about its impact on labor shortages.
Post time: Sep-14-2021