An Interview with Brian Murphy, President and CEO of Fire Equipment Inc.

August 4, 2021

1. What is your role at your company?

While my official title is President and CEO of Fire Equipment Inc. (FEI), the leading full-service fire protection provider in New England, I view my role as serving and supporting our team of talented individuals.

2. Tell us about your family.

I’m fortunate to have two families. My supportive family at home consists of my wife and three children (ages 6, 9, and 13 years old). My 6-year-old daughter is in training every day to eventually become legal counsel for FEI. I also have a fantastic work family at FEI consisting of over 160 team members that I enjoy working with each day.

3. What was your dream job growing up?

Growing up, I often talked about aspiring to become a commercial airline pilot. Although I still admire the profession of commercial airline pilots, the thought of often being away from my family led me in another direction.

4. What was your first job?

My first job was mowing the lawns for several neighbors. I would borrow my father’s little push lawnmower. I earned enough money to select anything from the menu when the ice cream truck came rolling through the neighborhood on a hot summer evening.

5. How did you get into the fire protection industry? Please describe your first job within the industry.

I am proud to say that I was born into this amazing industry. As a third-generation member at FEI, I have vivid memories as a young child going along with my father on service calls for CO2 and Halon discharges. In 1998, I officially joined FEI in the summer time between college break, working in our dry chemical room servicing fire extinguishers. In 2007, I joined full time in a support role.

6. Over the course of your career, what has been the biggest change you have seen in the industry?

I’ve seen two significant changes over the years in the fire protection industry. First, I believe the advancement in technology, which has become a requirement to manage the business effectively, has been a significant change over the years. Through the early 2000s, fire protection had always been considered a “Rolodex” type of business. Now, through improvements in technology, we have access to valuable information at our fingertips wherever we go. Our ability to respond to customers has become almost instantaneous.

The second most significant change I’ve seen is the consolidation within the industry. There was a time when the majority of the fire protection businesses were locally owned, and family operated. That is not the case anymore. Fire Equipment Inc. is still a locally owned third-generation family business and yet has grown to be a full-service fire protection provider with six locations throughout New England. We have the team and resources large enough to compete against the national companies — this speaks volumes about our people and our story.

7. What do you love most about your job?

I love the overall sense of being a part of something special. Even though Fire Equipment Inc. has been around since 1928, we look and feel like a startup company. We are constantly working together to improve processes and the overall employee and customer experience. It is this constant quest to improve that creates the most fulfillment for me.

8. What is your favorite movie?

Pretty much anything that Martin Scorsese is affiliated with. Being from the Boston area, The Departed is a great movie to watch.

9. What is the best piece of advice that you were ever given?

Surround yourself with great people and you will be amazed at how much easier your job becomes. As I mentioned earlier, I truly am fortunate to work with an amazing team here at FEI. Our organizational structure really allows ideas to manifest in every part of the company.

10. Who inspires you?

My father inspires me. I will never forget, during my first week, he sat me down and told me, “We have great people here at FEI. Always take care of them and understand that your decisions always have to be made with the best intentions for the FEI team.” That has always stuck with me.

11. Who gave you your first break?

As I said, I am third-generation in this business, so I was lucky enough to be born into it.

12. Would you rather take an ocean, mountain or lake vacation?

For me, the mountains are where I like to spend my free time. When we finally have a free moment, you will most likely find me with my family in the mountains of Vermont, skiing and snowmobiling in the winter. Or hiking, mountain biking, and golfing in the summer. That is, of course, if we are not offshore sport fishing. Fishing for tuna is another passion of mine and my family’s. If you have ever seen Wicked Tuna on the National Geographic channel, that is what we do for fun.

13. If you had one “Do Over,” how would you use it?

I constantly look forward. “Do overs” are not a real thing in my mind. I approach it as “do different” the next time. I believe we always need to be in the mode of continuous improvement.

14. What is your idea of perfect happiness?

Is there such a thing? I think life is perfect with all of its imperfections, so embracing the joys and challenges of life is what it means to live life to its fullest.

15. What is your greatest fear?

That is easy — Tom Brady winning another Superbowl not wearing a Patriot’s uniform. Hard to argue that he is not the GOAT, though.

16. What is the trait you most dislike in yourself?

I think, at times, I need to find a better balance in life. When I get going on something, I give it 120%.

17. What is the trait you most dislike in others?

I’m not too fond of it when people try to bring other people down rather than elevate themselves. We should always reward hard work and not create rules that limit people. Create opportunities for people, and let them do the rest.

18. Which living person do you most admire?

Condoleezza Rice. I would love to play a round of golf with her at Augusta National one day. 

19. What is your greatest extravagance?

Golf. It is something that I took up in 2016 which is not easy if you have ever tried. I was being pulled into many business events and I did not own a set of clubs. I decided to spend some more time and try to refine my skills. 5 years later I play a lot of golf with my two boys ages 13 and 9.

20. Which words or phrases do you most overuse?

Synergy and Organic…time to get more creative and move on from those.

21. What or who is the greatest love of your life?

My wife. She keeps us all focused and headed down the right path.

22. Which talent would you most like to have?

Referring back to questions 19, I would someday like to hit a golf ball straight.

23. What do you consider to be your greatest achievement?

Navigating 2020 with our team and coming out a stronger company than when the pandemic began. We actually did an acquisition during the pandemic which was unheard of.

24. If you were to die and come back as a person or a thing, what would it be?

I only want to live one life on this planet and make the most of it.

25. Where would you most like to live?

I have traveled all over the USA and I still love living in New England. The change in seasons, the culture, and the sense of community make it a great place to live. Of course, if you asked me this question mid-January, I may have answered it differently.

26. What is your most treasured possession?

My family and the constant experiences we continue to create together.

27. What do you most value in your friends?

Warren Buffett. His quote about “Price is what you pay. Value is what you get” stands to be very true in the fire protection industry. 

28. Who is your favorite writer?

Harlan Coben

29. Which historical figure do you most identify with?

I feel very strongly that we are all unique in our own way. I am me.

30. Who are your heroes in real life?

All of the moms out there. Nobody holds things together better than Mom.

31. What are your favorite names?

Patriots, Bruins, Red Sox, and Celtics…I mean come on, did you expect anything else.

32. What is your motto?

Life is what happens when you are busy making other plans.


Summit Fire & Security Announces the Purchase of Republic Fire Protection and Fire Ranger to Enter the Florida and Georgia Markets

August 3, 2021

Rapid expansion continues as Summit Fire & Security proudly enters new territory within the southeastern United States

6/23/21

MENDOTA HEIGHTS, MINNESOTA — SFP Holding, Inc. (Summit Companies) announced that Summit Fire & Security LLC, a subsidiary of SFP Holding, has completed the purchase of Republic Fire Protection (“Republic”) in its largest strategic add-on acquisition to date. In addition to Republic, Summit Fire & Security also closed on the acquisition of Fire Ranger, based in Fort Lauderdale, Florida. With four offices located in Florida and Georgia, this acquisition officially plants the flag for Summit Fire & Security in the southeastern United States and is aligned with the subsidiary’s rapid expansion strategy.

Republic Fire Protection is a full-service fire safety and protection company that has been serving the southeastern United States for the past 40 years. With two Florida-based branches located in Jacksonville and Fort Myers, and one branch located in Loganville, GA, Republic Fire offers a vast number of fire protection, safety and suppression products and services for all businesses. The Fire Ranger acquisition, closed in conjunction with Republic, expands Summit Fire & Security’s reach into the Fort Lauderdale, FL market and gives Summit Fire & Security a larger presence in specialty marine fire suppression capabilities.

Summit Fire & Security, through its 24 branch locations, provides inspection, testing and monitoring, service and repair, installation, and consulting services for fire protection, life safety and security systems. With expertise spanning a wide range of verticals, Summit Fire & Security serves customers in commercial, industrial, government, healthcare, multi-family residential facilities, and more. Now a part of the Summit Fire & Security team, the combined expertise of the Republic Fire Protection and Fire Ranger teams results in hundreds of years of experience all under one roof and one brand. 

“We’ve been proud to serve our customers over the years through our many locations, and we believe the excellent level of service and expertise our customers have come to expect will continue with Summit Fire & Security. Some of the many reasons we chose Summit include their reputation as a great place to work, their passion for delivering excellent service, and their thorough, thoughtful, and industry-specific integration planning. Their history of successfully integrating fire life safety companies speaks for itself,” stated Mike McLeod from Republic Fire Protection.

“Republic has done a wonderful job of putting together a diverse team of experts to become a force in the southeastern market providing a true one source solution for their customers. With the addition of Republic and Fire Ranger we can now offer our ever-growing clientele expanded coverage into Florida and Georgia, and now have additional access to some very exciting markets. This certainly highlights our commitment to growing in the southeast,” stated Nic Brown, President of Summit Fire & Security.

With 24 locations in 12 states across the southern United States, Summit Fire & Security is headquartered in Reno, Nevada. As we look to the future, we are excited about our continued growth opportunities with the Summit Fire & Security subsidiary.

About Summit Companies

SFP Holding, Inc. (Summit Companies), through its subsidiaries, provides premier fire and life safety services with an expanding national presence. Since 1999, Summit has been a leader in the fire and life safety space with experience and capabilities that create a one-stop-shop solution for fire detection and fire suppression on a local and national scale. Summit Companies’ subsidiaries meet all of a customer’s requirements for fire protection, fire security, consulting and engineering services. SFP Holding, Inc., the parent company of the Summit Companies subsidiaries, is owned by management and CI Capital Partners, a leading North American private equity investment firm with approximately $1.3 billion in assets under management. Learn more at: https://www.SummitCompanies.com.


Did Boeing Find a Replacement for Halon 1301?

July 19, 2021
An Alaska Airlines 737-9 is serving as the flying test lab for Boeing’s 2021 ecoDemonstrator program, which will evaluate about 20 technology projects. (Boeing rendering)

6/3/21

By Boeing
Cision PR Newswire

SEATTLE — Boeing and Alaska Airlines announced they are partnering on the latest Boeing ecoDemonstrator program and will flight test about 20 technologies on a new 737-9 to enhance the safety and sustainability of air travel.

In flights beginning this summer, Boeing and Alaska will test a new halon-free fire-extinguishing agent that significantly reduces effects on the ozone layer, evaluate an engine nacelle designed to reduce noise and assess cabin sidewalls made from recycled material, among other projects.

“We have a long history of working with Boeing to advance aviation technology, safety and fuel efficiency,” said Diana Birkett Rakow, Alaska Airlines’ vice president, public affairs and sustainability. “Alaska Airlines flies to some of the most beautiful and geographically diverse regions in the world and we are committed to finding ways to reduce climate impacts across our network. This work with Boeing to accelerate innovation on the ecoDemonstrator program enables us to contribute to a more sustainable future for our global community.”

Since 2012, the ecoDemonstrator program has accelerated innovation by taking nearly 200 promising technologies out of the lab and testing them in the air to address challenges for the aviation industry and improve the passenger experience.

“Boeing is committed to continually improve air safety and the environmental performance of our products,” said Stan Deal, Boeing Commercial Airplanes president and CEO. “We’re proud to collaborate with our hometown customer and other partners around the world this year to make flying more sustainable.”

In five months of ecoDemonstrator flight tests, Boeing and Alaska will work with nine other partners to test new technologies. After tests are complete, the airplane will be configured for passenger service and delivered to Alaska. The program’s technologies include:

  • Testing a new fire extinguishing agent for aircraft that significantly reduces effects on the ozone layer. This material is intended to replace Halon 1301, which is no longer being produced.
  • Collaborating with the U.S. National Oceanic and Atmospheric Administration to measure greenhouse-gas levels in the atmosphere to support the agency’s climate modeling and long-term forecasting.
  • Evaluating acoustic lining concepts within the engine nacelle that may reduce noise on current engines and will inform designs for next-generation models.
  • Recycling carbon composite material from Boeing 777X wing production into a cabin sidewall panel. This durable, light material would reduce fuel use and carbon emissions, and supports Boeing’s goals for sustainable manufacturing.

Boeing’s current and future airplanes leverage a number of technologies evaluated in previous ecoDemonstrator testing, including:

  • Advanced Technology winglets on the 737 MAX family that reduce fuel use and emissions.
  • iPad apps that provide real-time weather and other data to pilots, improving fuel efficiency and reducing CO2 emissions. These apps complement digital analytics services Boeing offers to help airlines optimize fleet utilization.
  • A camera system on the new 777X that will enhance safety by helping pilots avoid obstacles on the ground.

“Boeing put additional emphasis on sustainability in 2020 to align with our stakeholder and business priorities as well as our values,” Boeing Chief Sustainability Officer Chris Raymond said. “Through our collaboration with industry partners, the ecoDemonstrator program is a great example of our commitment to work together to make flying safer and more sustainable for current and future generations.”

ecoDemonstrator test flights are flown on a blend of petroleum-based and sustainable aviation fuel. SAF is in regular use today, reduces life-cycle CO2 emissions by up to 80%, and offers the most immediate and greatest potential to reduce emissions over the next 20 to 30 years in all commercial aviation markets.

In January this year, Boeing committed to make sure its commercial airplanes are capable and certified to fly on 100% SAF by 2030. The company also plans to work with regulatory authorities and across the industry to raise the current 50% blending limit for expanded use of SAF. Boeing’s 2018 ecoDemonstrator 777 Freighter made history as the world’s first commercial airliner to fly on 100% sustainable fuel.

Learn more at boeing.com/ecodemonstrator.

As a leading global aerospace company, Boeing develops, manufactures and services commercial airplanes, defense products and space systems for customers in more than 150 countries. As a top U.S. exporter, the company leverages the talents of a global supplier base to advance economic opportunity, sustainability and community impact. Boeing’s diverse team is committed to innovating for the future and living the company’s core values of safety, quality and integrity. Learn more at www.boeing.com.

Alaska Airlines and its regional partners serve more than 120 destinations across the United States and to Mexico, Canada and Costa Rica. The airline emphasizes Next-Level Care for its guests, along with providing low fares, award-winning customer service and sustainability efforts. On March 31, 2021, Alaska became the 14th member of oneworld. With the global alliance and Alaska Airlines’ additional partners, guests can travel to more than 1,000 destinations on more than 20 airlines while earning and redeeming miles on flights to locations around the world. Learn more at newsroom.alaskaair.com and blog.alaskaair.com.

Contact
Ivan Gale
Boeing Communications
+1 (571) 228-0974
ivan.e.gale@boeing.com

Paul McElroy
Boeing Communications
+1 (425) 283-7740
paul.mcelroy2@boeing.com

Alaska Airlines Communications
+1 (206) 304-0008
newsroom@alaskaair.com

SOURCE Boeing

Related Links

http://www.boeing.com

The original story can be found here.


An Interview with Todd Stevens, Immediate Past President of the FSSA

June 25, 2021

1. What is your role at your company?

Operations Manager at Industrial Fire Protection (IFP)

2. Tell us about your family.

I have been married for over twenty years to my wife Kelly. We have had multiple dogs over the years. Currently, we have two fur kids. My parents, sister and brothers are all very important in my life. We are all very close. I would not be where I am today if it were not for each one of them. Being the youngest, they have all provided me with guidance over the years.

3. What was your dream job growing up?

Not sure I had a “dream” job. I did have a magazine when I was real young, with photos of very expensive sailboats. I used to pretend that it was a sales brochure, and I would try to sell the boats to customers. I made sure that I pointed out the technical specs with each one. I guess I always liked the idea of technical sales but did not know it.

4. What was your first job?

I started working for a wholesale greenhouse next door to my house when I was in junior high. I learned a lot about plants/flowers and had the opportunity to meet some great people. I worked there on and off till I was in my mid 20s.

5. How did you get into the fire protection industry? Please describe your first job within the industry.

When I was in high school, I took classes to learn AutoCAD. After my first year of college, I started working part time at a small consulting engineering firm basically drawing lines and circles. The electrical, mechanical, and plumbing/fire protection engineers would red line prints and throw them over the wall for us CAD nerds to draw them up. They offered me a full-time position and I accepted with one condition — I wanted to learn what those lines and circles meant. I wanted to do what the engineers did. I chose Plumbing/FP because I enjoyed that the most. I started learning everything I could about FP and continue to learn more about our industry every day.

6. Over the course of your career, what has been the biggest change you have seen in the industry?

I have been in the industry for over 20 years, beginning in design. I think the most impressive change has been the design process and the development of drawing software over the years. I remember making blueprints or learning to draw on mylar. Now we can create a full 3-dimensional, virtual, fully coordinated building with all trades before they even dig a hole in the ground. The technology for designing building fire protection has really impressed me over the years.

7. What do you love most about your job? Least?

I think the thing I love the most about my job is the people in our industry. I have the opportunity to interact with extremely knowledgeable, professional, friendly individuals which helps to make it feel less like work and allows me to learn from others every day. For least, I hate that it sometimes feels like there is not enough time in a day to get everything completed.

8. What is your favorite movie?

The entire Rocky series… The 6th one is my favorite, and the 5th is the worse. I believe they are motivational because they teach strength and perseverance, never giving up and giving it your all, always.

9. What is the best piece of advice that you were ever given?

Work hard, play hard.

10. Who inspires you?

My mentor and friend Paul Theriault. Paul did a lot for our fire protection industry in the New England area. He was well known for his knowledge, hard work ethic, and for just being an amazing guy. He unfortunately passed away way too young but continues to inspire me every day.

11. Who gave you your first break?

When I started at the consultant engineering firm, Roger Bernard helped me find my place. Roger believed in me before I believed in myself. He always encouraged and pushed me to learn and do my best.

12. Would you rather take an ocean, mountain or lake vacation?

Can I choose a cabin in the mountains next to a lake?

13. If you had one “Do Over,” how would you use it?

Spend more time with family members that are no longer with us.

14. What is your idea of perfect happiness?

Being with family, sharing and listening to how each of their days were.

15. What is your greatest fear?

Drowning… I like boats, snorkeling, and swimming so I am not afraid of the water, just afraid of drowning. I know that makes no sense.

16. What is the trait you most dislike in yourself?

I do not like when I hesitate with decisions; I sometimes overthink things. I wish I could be more direct and confident in my decisions.

17. What is the trait you most dislike in others?

Dishonesty. I am an adult; I can handle the situation. Just do not lie to be about it.

18. Which living person do you most admire?

My brother Chris, he is a successful business owner, amazing husband, great father, and just a good person that cares about everyone else’s needs first.

19. What is your greatest extravagance?

Bourbon… I can be a bit of a bourbon snob, haha.

20. Which words or phrases do you most overuse?

Looking back at some of my answers I guess I use “very” too much.

21. Which talent would you most like to have?

I wish I could play the piano. I have played the guitar most of my life, and there is music talent in my family, but I could never learn the piano. I always loved listening to my grandmother play the organ.

22. What do you consider to be your greatest achievement?

Being honored by my peers to be elected President of the Fire Suppression Systems Association (FSSA) was amazing to me.

23. If you were to die and come back as a person or a thing, what would it be?

Probably one of our dogs because my wife likes them more than me.

24. Where would you most like to live?

I would love the opportunity to live in London even for a short time.

25. What is your most treasured possession?

The amazing memories I have created.

26. What do you regard as the lowest depth of misery?

Loneliness.

27. What do you most value in your friends?

Being able to reach out to them and they are there, no matter what.

28. Who are your favorite writers?

I don’t have a favorite writer. I really enjoy reading autobiographies and motivational stories.

29. Which historical figure do you most identify with?

Not sure if he is a historical figure but I would say Teddy Bruschi, former linebacker of the New England Patriots. His story is inspiring, he was loyal to the Patriots, extremely hard working, and humble. Not sure I have all those qualities, but I certainly try hard every day to achieve them.

30. Who are your heroes in real life?

That has to be my mom. There is no one else in this world that has done more for me.

31. What are your favorite names?

I am going to go with my two current dog’s names: Bandit and Josie.

32. What is your motto?

You win some, you lose some.


The Hiller Companies Announces New CEO/President

June 24, 2021

An Interview with Pam Boyer

April 16, 2021


1. What is your role at your company?

President and CEO

2. Tell us about your family.

I have one daughter, Shelley, and one granddaughter, Pamela, and cherished extended family.  My granddaughter will be 18 in July and she is my heart.

3. What was your dream job growing up?

I originally wanted to be an elementary school teacher, which was my major in college. However, at the time, I worked for U.S. Steel and I could not afford to teach as the pay was much less and I was on my own.

4. What was your first job?

I worked after school and on the weekend at a record store. Back then, people came in to listen to records in soundproof booths before they purchased them. During that time, I met current popular recording stars who came into the record store to promote their records. It was fun and exciting for a teenager.

5. How did you get into the fire protection industry? Please describe your first job within the industry.

Jim Boyer founded BFPE in 1970. I met Jim and we married in 1972. After my daughter Shelley was in school, I started to work for BFPE. My first job at BFPE was the service manager for the pre-engineered service department. To understand what my job entailed, I rode on service trucks for hands on training and Jim taught me everything else I needed to know.

6. Over the course of your career, what has been the biggest change you have seen in the industry?

Probably the biggest change that comes to mind for me is the Special Hazards Fire Suppression Industry and how we all had to rebuild the market after the demise of Halon 1301. None of us knew what the future would be for our businesses when production of Halon ceased in January of 1994. But I will always remember how manufacturers and distributors alike dug in and together developed a new fire suppression gas market with even more choices for our customers. This, in turn, created the market we have today. It was both a scary and exciting time for everyone in our business, but I believe that history will record it as our industry’s finest hour.

7. What do you love most about your job? Least?

I love the interaction with our people. However, as we have grown to over 900 employees, it is a challenge to keep the family atmosphere that has been the key to our success, but I work on it daily. We have amazing, caring employees that I consider my family. I truly believe that is why we have been so successful.

8. What is your favorite movie?

My favorite movies are The American President and The Sound of Music.

9. What is the best piece of advice that you were ever given?

It was from my Jim, “Take care of the customer and they will take care of you.” This has proven to hold true for BFPE over the last 50 years.

10. Who inspires you?

Jim Boyer and my family.  After Jim’s passing, continuing his dream helped me put one foot in front of the other, day after day, to take care of our BFPE family.

11. Would you rather take an ocean, mountain, or lake vacation?

My favorite vacations have always been staying at a beach house on the ocean with family and friends. Looking out at the ocean and hearing the waves crash relaxes me like nothing else in the world.

12. What is your idea of perfect happiness?

Spending time with people I love, my family and friends.

13. What is your greatest fear?

I do not like being in the dark. Give me light and sunshine always.

14. What is the trait you most dislike in yourself?

I am a bit of a perfectionist but I realize that so I do not expect the same of others.

15. What is the trait you most dislike in others?

Negativity

16. Which living person do you most admire?

Marlo Thomas from St. Jude’s Children’s Hospital because she continued with her father’s legacy to help cure children with cancer

17. What is your greatest extravagance?

Dark chocolate

18. What or who is the greatest love of your life? When and where were you happiest?

Anyone who knows me knows Jim was, and will always be, the love of my life. I miss him every day.

19. Which talent would you most like to have?

I would enjoy being able to play the piano. I never learned and it is a true regret.

20. What do you consider to be your greatest achievement?

Raising a wonderful daughter, and also being able to hire so many people and take care of them and their families

21. Where would you most like to live?

On the waterfront

22. What is your most treasured possession?

The wedding ring that Jim gave me, as well as all of the photographs of my life with Jim

23. What do you regard as the lowest depth of misery?

Losing my husband Jim, he was the love of my life

24. What do you most value in your friends?

A positive outlook on life

25. Who are your favorite writers?

F. Scott Fitzgerald and Charles Dickens

26. Which historical figure do you most identify with?

Princess Diana because she was a humanitarian whose causes were AIDS, homelessness and mental health, a wonderful role model

27. Who are your heroes in real life?

Teachers because they have our children in their hands and they truly make a difference in their lives

28. What is your motto?

 Always be kind to everyone.

Click below to read a brochure that describes the company history from the beginning until now:


BFPE at 50 Years

April 15, 2021

How JCI Will Cut $300 Million in Expenses

March 12, 2021

2/17/21

By Johnson Controls International plc
Cision PR Newswire

CORK, Ireland — Johnson Controls, the global leader for smart, healthy and sustainable buildings, today details multi-year SG&A actions designed to further optimize the overall cost structure, enhance operational efficiency and deliver meaningful margin expansion. These actions will deliver annualized savings of $300 million by fiscal year-end 2023 and are incremental to ongoing improvements in underlying fundamentals.

The one-time pretax costs associated with these actions are estimated at $240 million, a majority of which is expected to be recorded in fiscal 2021. These costs will be excluded from the Company’s non-GAAP (adjusted) financial results. The cash impact associated with these costs is estimated to be $200 million and will be absorbed as part of reported free cash flow conversion.

As a result of these actions, the Company is raising its outlook for fiscal 2021 adjusted EPS, to a range of $2.50 to $2.60, compared to the prior range of $2.45 to $2.55. Adjusted Segment EBITA margin is now expected to expand by 60 to 90 basis points, versus an expansion of 40 to 60 basis points previously. Full year organic revenue growth of up low-to-mid single digits, and FCF conversion of 100% remain unchanged. Fiscal Q2 guidance is also unchanged.

“After four years of significant integration and transformation-related activities, today’s announcement builds upon the success of those actions and represents a critical step forward in further enhancing profitability at Johnson Controls,” said George Oliver, Chairman and CEO. “We have a number of attractive growth opportunities in front of us, and these actions will ensure that our cost structure is effectively optimized to deliver strong operating margin expansion as we continue to execute on our strategic growth priorities.”

As previously announced, Johnson Controls Chairman and Chief Executive Officer, George Oliver and Chief Financial Officer, Olivier Leonetti are scheduled to participate in both the Barclays Industrial Select Conference and Citi 2021 Global Industrials Conference today. Messrs. Oliver and Leonetti will comment on the cost actions and the impact to Fiscal 2021 guidance during these presentations. A slide presentation with additional details, as well as a link to the live webcast for each conference, is available on the “Events” section of the company’s website at: http://investors.johnsoncontrols.com/news-and-events/events-and-presentations.

The original article can be found here.


Summit Fire & Security Announces the Purchase of Sound & Signal Systems of NM

March 1, 2021

2/3/21

Summit Companies

The latest addition strengthens Summit Fire & Security’s presence in Southwestern U.S. with expansion in New Mexico

MENDOTA HEIGHTS, MINNESOTA – SFP Holding, Inc. (Summit Companies) announced that Summit Fire & Security LLC, a subsidiary of SFP Holding, has completed the purchase of Sound & Signal Systems of NM, Inc. located in Albuquerque, New Mexico.

Sound & Signal Systems has been proudly serving New Mexico since 1974, specializing in the low voltage field—including fire alarm, security, access control, card access, CCTV, intercom, nurse call, paging, and voice/data. They take pride in providing the highest quality in the design and installation of these systems while assuring that each system meets the performance and reliability demanded by customers. Sound & Signal Systems strives for excellent customer service and, because of this dedication, has remained an industry leader in New Mexico and the greater Southwest.

As Summit Fire & Security and Sound & Signal Systems join forces, there is powerful alignment with the commitment to excellent customer service and quality work. The Sound & Signal Systems team will be an excellent addition to existing operations in the Southwest.

“Ted has built a company centered around technical excellence in their field. The team he has put together has an incredibly high level of expertise to tackle the most complex of projects. This partnership solidifies our presence in New Mexico and poises us to be the market leader here,” states Nic Brown, President of Summit Fire & Security.

For the past 47 years, Sound & Signal Systems has made a mark as a well-known, highly respected business that believes in offering excellent customer service and giving back to the community. “Throughout our history, Sound & Signal Systems has remained committed to providing first-class service customers and communities. Additionally, our commitment to give back to our communities through philanthropic efforts is a source of pride for our entire team,” states Ted Jorgensen, Owner of Sound & Signal Systems.

The Sound & Signal Systems leadership team, with special recognition to Ted and Margaret Jorgensen, take pride in their philanthropic community efforts. With involvement in many foundations, along with funding the “Ted and Margaret Jorgensen Cancer Center” at the Presbyterian Rust Medical Center, Sound & Signal Systems is well-known for generosity and community involvement.

“Sound & Signal was built on a culture of hard work and excellence, and we’re proud to be a leader in this industry. I believe Summit will not only strengthen our ability to serve our customers with expanded services, but also offer our employees a successful future as they join the Summit team. We look forward to the future with Summit Fire & Security as we expand our presence across New Mexico,” states Jorgensen.

Summit Companies subsidiaries have grown quickly over the past two years through acquisitions with the addition of 14 new companies. Summit is a financially strong and healthy company, as evident from these acquisitions. As we look to the future, we are excited about our growth opportunities with the Summit Fire & Security subsidiary.

About Summit Companies
SFP Holding, Inc. (Summit Companies), through its subsidiaries, provides premier fire and life safety services with an expanding national presence. Since 1999, Summit has been a leader in the fire and life safety space with experience and capabilities that create a one-stop-shop solution for fire detection and fire suppression on a local and national scale. Summit Companies’ subsidiaries meet all of a customer’s requirements for fire protection, fire security, consulting and engineering services. SFP Holding, Inc., the parent company of the Summit Companies subsidiaries, is owned by management and CI Capital Partners, a leading North American private equity investment firm with approximately $1.3 billion in assets under management. Learn more at: https://www.SummitCompanies.com.


Airbus Says Aviation May Not Recover Until 2025

February 25, 2021

2/18/21

An Airbus A330 aircraft operated by Lufthansa. Airbus expects to deliver the same number of aircraft this year as it did in 2020. (Felix Schmitt for The New York Times)

By Liz Alderman
The New York Times

The aerospace giant Airbus announced a 1.1 billion euro loss for 2020 and warned that the industry might not recover from the disruption caused by the pandemic for two to four years, as new virus variants delay a resumption of worldwide air travel.

The world’s largest planemaker eliminated its dividend for a second straight year and predicted a leveling off in deliveries of its popular commercial jets, the company’s chief executive, Guillaume Faury, said.

“As of today we only expect the market to recover between 2023 and 2025,” Mr. Faury said. “The pace of recovery will depend not only on the pandemic and the rate of vaccinations, but also on the decision of governments, if they choose to tighten pandemic conditions or, as I hope, restore freedom,” he said.

The aircraft manufacturer, based in Toulouse, France, said revenue fell by 29 percent to 49.9 billion euros (about $60 billion). Still, the company is outperforming its rival Boeing, which suffered a $11.9 billion loss in 2020, weighed down by the setbacks from the 737 Max, which was grounded after 346 people were killed in two crashes involving the plane, and delays of the first deliveries of the 777X.

Airbus delivered 566 aircraft to airlines in 2020, 40 percent less than expected before the pandemic. In a sign of how badly air travel has been hit, some airlines avoided answering Airbus’s calls to alert them that the new aircraft they had ordered before the pandemic hit was ready, Mr. Faury said.

Given the uncertain outlook, Airbus won’t ramp up aircraft deliveries this year, but will instead plan to deliver about the same number of aircraft as it did in 2020. The fall in demand has left around 100 finished jets sitting parked at Airbus factories, down from a peak of around 145 last year.

Investors were not pleased with the update. Shares in Airbus fell over 3 percent in early trading.

Despite the gloomy short-term forecast, Mr. Faury said the company would continue to ramp up for a substantial change in future business, based on a new generation of carbon neutral airlines that it is designing and expects to unveil sometime this decade.

Weighing on the company’s finances were a 1.2 billion euro charge linked to more than 11,000 layoffs carried out last year, as well as another 385 million euros in costs associated with the ending of its A380 super jumbo jet.

Liz Alderman is the Paris-based chief European business correspondent, covering economic and inequality challenges around Europe. She was previously an assistant business editor, and spent five years as the business editor of what was The International Herald Tribune. @LizAldermanNYT

The original article can be found here.