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Nidec/U.S. MOTORS names new GM of Commercial/Industrial Motors

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Thiago Mohallem Nidec Motor Corp

ST. LOUIS, MO – June 5, 2023 – Thiago Mohallem has been promoted to General Manager of Nidec Motor Corporation’s commercial and industrial motors and drives group. The product lines, part of the iconic U.S. MOTORS® brand, serve a wide range of industries including irrigation, water and wastewater treatment, food and beverage processing, and pool and spa applications.

Mohallem was previously Global Supply Chain VP for the Nidec appliance, commercial and industrial group. He will continue to be responsible for that role while also leading engineering, sales, and marketing efforts.

Mohallem has over 20 years of leadership experience at multinationals including Procter & Gamble, L’Oreal and BRF. He joined Nidec in 2017, as CPO of Embraco brand motors.

“We’re pleased to announce Thiago’s new role, as he has been a strong leader at Nidec for a number of years, helping deliver the high-efficiency, energy-saving motor and drive solutions that our customers demand today,” said Tim Schamel, President of the U.S. MOTORS division.

From the advanced technology of variable speed electronically commutated motors to market-leading NEMA Premium® efficient motors, the Nidec/U.S. MOTORS brand is an industry leader. More information on the products can be found at www.usmotors.com

About Nidec Corporation, Nidec Motor Corporation and U.S. MOTORS®

Nidec Corporation is the world’s No.1 comprehensive motor manufacturer. Based in Kyoto, Japan, Nidec Corporation offers motors ranging from micro-size to super large, as well as application products and services in IT, automation, home appliances, automobiles, commercial and industrial systems, environmental, energy, and many other businesses. Nidec is comprised of approximately 300 group companies employing more than 140,000 people all over the world.

With headquarters in St. Louis, Mo., Nidec Motor Corporation (NMC) is the leading manufacturer of commercial, industrial, and appliance motors and controls. The NMC product line features a full line of high efficiency motors, large and small, that serve industrial, residential, and commercial markets in applications ranging from agriculture, water treatment, mining, oil and gas, and power generation to pool and spa motors, air conditioning condensers, rooftop cooling towers, and commercial refrigeration. NMC also makes motors, controls, and switches for automotive and commercial markets.

Nidec Motor Corporation’s U.S. MOTORS brand encompasses a complete line of general and special purpose commercial and industrial motors from 1/30 horsepower through 4000 horsepower for a wide variety of applications. Since 1908, the U.S. MOTORS brand has stood for exceptional product reliability and performance. It is one of the oldest and trusted brands in the motor industry and is recognized worldwide as the mark of leadership and technological innovation.

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Alise Everton has been working in the pool industry for the past decade and is an experienced press correspondent and contributor for numerous trade publications and web portals including PoolMagazine.com and PoolContractor.com among others. Contact her for guest posting opportunities, press releases, and pool equipment related news.

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BofA Downgrades Latham Group Citing Weak Pool Construction Market

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BofA Downgrades Latham Group Citing Weak Pool Construction Market

Latham Group (NASDAQ: SWIM), a prominent player in residential swimming pool construction, faced a setback as Bank of America downgraded its stock due to concerns over sluggish new pool construction and increased decrementals.

With the downgrade, SWIM’s stock plummeted by 23.78% during pre-market trading on Wednesday, settling at $2.50, marking an 11% dip below its 200-day simple moving average.

Bank of America revised its recommendation on Latham Group stock to Underperform, slashing the price target from $4.50 to $2.60.

In its 2024 guidance announcement, SWIM projected revenues between $490M and $520M, falling short of the consensus estimate of $533.09M. Similarly, adjusted EBITDA guidance ranged from $60M to $70M, representing an 8% to 35% decrease compared to previous expectations.

The downgrade stems from a sluggish start to 2024, subdued projections for new pool construction, operational challenges leading to deleverage, and constrained free cash flow.

Management anticipates a 15% year-over-year decline in new pool construction for 2024.

These developments contrast with the optimistic sentiment among some sell-side analysts, who maintain a Buy rating on SWIM with an average price target of $3.54.

Scott Rajeski, President and CEO, stated, “Latham navigated a very difficult market environment in 2023. We successfully implemented cost reduction programs and lean manufacturing initiatives that structurally reduced our cost basis, while maintaining our investments in future growth. These cost reduction programs improved margins as the year progressed and we expect they will enable us to considerably expand margins and overall profitability once volumes recover. At the same time, we increased productivity and efficiency for our dealers, developed new fiberglass pool models, and invested in digital tools that have enhanced the consumer’s pool buying experience. As a result of these actions, Latham is positioned for meaningful market share gains as overall industry conditions improve.”

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Fluidra Launches €20 Million Venture Capital Fund – Fluidra Ventures

The company will invest €20 million in tech-based startups that offer emerging solutions that can enhance the pool and wellness sector.

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Fluidra Ventures

Fluidra, a global leader in connected equipment and solutions for the pool and wellness sector, is launching Fluidra Ventures, a €20 million corporate venture capital fund (CVC) investment to lead innovation in the sector.

The CVC will invest in each startup with the potential to revolutionize the industry on a global scale through their solutions, with a special focus on the United States and Europe. The goal of this first three-year phase is to build a solid portfolio of startups through investing in innovative companies.

The CVC will target startup initiatives that enhance efficiency, connectivity, sustainability and safety in the swimming pool and wellness business, leveraging IoT, computer vision and robotic solutions. It is looking for startups that add value to the pool and wellness sector with innovative business models, fostering direct customer interaction through sales, subscriptions and other channels. The CVC has already invested in Coral Smart Pool, a technology company aiming to transform the pool experience through Artificial Intelligence (AI) with an initial focus on pool safety.  

Fluidra Ventures will also invest in companies that innovate in engineering and science to advance materials and products that deal with swimming pool manufacturing, efficiency and maintenance.

Four segments and eight strategic guidelines

The fund is focused on four different segments — Commercial, Residential, Wellness and Mass Market—and has an investment thesis that covers eight strategic guidelines, from connected pools, resource optimization, digital platforms, innovative materials, security systems, personalized experiences, robotics and innovative consumable products.

Fluidra Ventures is fueled by Fluidra Lab, Fluidra’s open innovation division, and any startups that want to submit their proposals can send their investment pitch decks to [email protected]. Offering more than just investments, Fluidra aims to leverage this initiative to become the top strategic collaborator for the most innovative startups with the tremendous benefits that being an industry leader brings, such as: resources, scale successful business models, expertise, experience, and sales options.

“This initiative joins several others that we have at Fluidra to promote innovation in our industry. This is why here at Fluidra Ventures we’re excited about the transformative potential that this venture will have for the pool and wellness industry, driving forward innovation, sustainability and technological advancement”, said Eloi Planes, Fluidra’s Executive Chairman.

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Coverings Sneak Peeks New Products for 2024

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beautiful stone outdoor patio seating area showing Coverings - 8 Landmark Ceramics - Slate Design Project - TCNA - Coverings

March 7, 2024 – Atlanta – Coverings (coverings.com), North America’s largest international tile and stone exhibition and conference, has revealed a curated first look at the new tile, stone, tool, installation and technology products that will be at Coverings 2024, April 22-25, 2024, at the Georgia World Congress Center, in Atlanta.

Ceramics of Italy, Tile Council of North America and Tile of Spain, Coverings’ three primary sponsor pavilions, will feature an invigorating showcase of tile and stone with a focus on design, functionality and sustainability. Showgoers will benefit from a firsthand experience of the hottest product trends and newest innovations shaping the future of the tile and stone industry. Attendees of Coverings 2024 will also have the opportunity to engage with top tile and stone industry experts and source products from more than 1,000 global exhibitors, representing 40 countries.

The following is a select preview of the newest tile and stone products Coverings 2024 exhibitors will be featuring:

Anima Wonder, by Ceramiche Caesar SpA, faithfully interprets natural inspirations with charm and personality. It is available in three functional sizes and eight different color nuances to meet various design needs and applications. Coverings 2024 Hall B, exhibit booth # 3635.

Cannè, one of the latest series by Ceramica Rondine, is available in five color shades, each offering the freedom to create unconventional styles. Light colors offer a harmonious fusion of structure and comfort with three-dimensional, parallel lines to restore brightness and refine the space. Coverings 2024 Hall B, exhibit booth # 4055.

Chroma, a new addition to Appomattox Tile Art’s Ready-To-Ship collection, offers a stone mosaic design reminiscent of pixilated abstractions that brings a burst of color and versatile personality to any room. Coverings 2024 Hall C, exhibit booth # 7359.

Forme, by Emilgroup, is the latest Emilceramica collection inspired by the four natural elements – earth, wind, fire and air. Forme reaches into the distant past to delight the most contemporary taste with a warm and welcoming aura combined with refined design and outstanding performance. Coverings 2024 Hall B, exhibit booth # 4075.

Geo, a new collection from Halcón Cerámicas, delivers an exploration of limestone’s serene beauty, offering not just inspiration, but a language that speaks of history, culture and natural art. Coverings 2024 Hall B, exhibit booth # 2859.

Lenox Lappato, by Emotion Ceramics, presents new finishes to the company’s most acclaimed marble. Lappato redefines elegance with each piece of porcelain stoneware shining with captivating splendor and soft textures offering a pleasant and subtle tactile experience. Coverings 2024 Hall B, exhibit booth # 2859.

MUSA, a new collection introduced by BESTILE, showcases the perfect fusion between craftsmanship and innovation. Its nine-color palette evokes the warmth of tradition while enhancing the beauty of nature. Coverings 2024 Hall B, exhibit booth # 2755.

Slate Design Project,Landmark Ceramics’ new porcelain collection inspired by natural slate, combines beauty, rich textures and a distinctive appearance with the superior performance of porcelain through its two distinct surface personalities: Coverings 2024 Hall C, exhibit booth # 7336.

QuarryBasics® Ironspot, from Metropolitan Ceramics, puts heavy use, functionality and visual appeal at the forefront, supplying a durable, matte finish quarry tile designed with a subtle, through-body look. Coverings 2024 Hall C, exhibit booth # 7229.

Quartz Stone Grey Matte,the newest in Cicogres’ Quartz Stone collection, encourages creative design experimentation while enhancing the natural allure of stone to foster spaces with distinctive personality and visual delicacy. Coverings 2024 Hall C, exhibit booth # 2859.

SENSI NUANCE, a new collection introduced by ABK, derives inspiration from the most elegant of marbles while embracing the vast world of color. The collection is the result of in-depth research into colored marble varieties and stands out for its luxurious contemporary palette of colors. Coverings 2024 Hall B, exhibit booth # 3544.

Sinai,by Coem–Fioranese, is a newly introduced collectioninspired by the timeless beauty of Golden Sinai stone mined in Egypt. Its dominating golden shades with grains from beige to pale brown add a charming flash of color to any space. Coverings 2024 Hall B, exhibit booth # 3534.

Tessino, an elegant and versatile new marble collection from Azulejos Benadresa (AB), presents in awide range of colors adorned with white veins that fill it with nuances. Its wide variety of formats and finishes offer a vast array of design possibilities. Coverings 2024 Hall B, exhibit booth # 1959.

Blue Ridge Porcelain™ collection, by Wonder Porcelain, takes inspiration from the stately trees of Tennessee and the majestic Blue Ridge Mountains to craft an understated, minimalistic wood porcelain tile look. Coverings 2024 Hall C, exhibit booth # 6925.

Up, LA FABBRICA AVA’s new single-fired wall tile series, showcases an unexpected sculptural plasticity from its raised surface that is refined through plays of projections and recesses. Light molds its shapes into sinuous geometric effects, which can be further accentuated by combining different colors and surface finishes. Coverings 2024 Hall B, exhibit booth # 3554.

Vermont, by Baldocer,combines the extraordinary beauty of American oak wood with the best-performing ceramics to create an exceptional new collection. Vermont provides natural inspiration through its porcelain and white body models as well as its four distinct color and size options. Coverings 2024 Hall B, exhibit booth # 1917.

Vertical Illusion – 3D Architectural Wall Panel, by Unique Design Solutions,reimagines interiors with fresh new lines and modern designs that create the illusion of height or depth in any room. Coverings 2024 Hall C, exhibit booth # 7363.

A preview sampling of new installation materials, tools and technology products slated for Coverings 2024 includes the following:

ARDEX TLT Shower Systems, from ARDEX Americas, provide a simple, all-in-one solution for tiled shower installations, offering a strong, lightweight, vapor-resistant tile base for wet areas. The pre-sloped, waterproof shower bases are designed with a patent-pending, built-in drain assembly. Coverings Hall C, exhibit booth # 7551.

MAPEI’s Carbon Zero family of products are fully carbon-offset throughout their entire life cycle, a status achieved by calculating the product’s carbon footprint and reducing it to zero through efficiency measures in-house, as well as the acquisition of certified carbon credits supporting renewable energy. Coverings 2024 Hall C, exhibit booth # 7736.

GRABO, Nemo Power Tools’ next-generation fully electric suction cup, revolutionizes how stone, tile, glass and pavers are effectively handled and installed, providing a faster, more effective way for installers to work. Coverings 2024 Hall C, exhibit booth # 7853.

Leveling Compound Mixing Station, from BIHUI USA by Better Tools, allows hands-free mixing for up to 5 bags of thinset with a speed of up to 650 RPM. Its lightweight body and arc-shaped spout make for easy pouring of self-leveling cement, compounds and epoxies. Coverings 2024 Hall C, exhibit booth # 8145.

The Level Best, Best of Everything’s (BOE) new leveling system, offers a wider base for lifting and leveling large tiles, clear windows to see corners and edges, and convenient wings for easy tightening. Coverings 2024 Hall C, exhibit booth # 7849.

LATICRETE Profiles & Trims, by LATICRETE International Inc., offer a comprehensive array of more than 4,000 profile and trim options, providing the perfect solutions for floors, walls, coves, stairs, expansion joints and more. Coverings 2024 Hall C, exhibit booth # 7758.

These and thousands of other products can be seen in-person next month at Coverings 2024, April 22-25, at the Georgia World Congress Center, in Atlanta.

To view all Coverings 2024 exhibitors prior to the show, visit the detailed online exhibitor list and show floor map.

For more information and to register for Coverings 2024 at no cost, visit coverings.com.

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