Category: Business

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Business Culture

AM Best affirms credit ratings of Safety Insurance Group, Inc. and key subsidiaries

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance—AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of Safety Insurance Company, Safety Indemnity Insurance Company, Safety Property and Casualty Insurance Company and Safety Northeast Insurance Company. Collectively these companies are referred to as Safety Group (Safety). At the same time, AM Best has affirmed the Long-Term ICR of “bbb+” (Good) of Safety Insurance Group, Inc. (Delaware) [NASDAQ/GS: SAFT], the publicly traded parent of Safety. The outlooks of these Credit Ratings (ratings) is stable. All companies are domiciled in Boston, MA, except where specified.

The ratings reflect Safety’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management (ERM).

 

Safety’s balance sheet strength is supported by its strongest level of risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), low underwriting leverage, sound liquidity and historically favorable loss reserve development trends. Safety also benefits from the financial flexibility afforded by its publicly traded parent, which has the ability to access capital markets. Safety’s strong level of operating performance has supported policyholder surplus growth and is the result of management’s ability to manage the market conditions in Massachusetts successfully, where the majority of its business is written.

 

Safety’s business profile is assessed as neutral due to its leading market position and diverse product offerings, partially offset by its geographic concentration in Massachusetts, which exposes Safety to above average economic, regulatory and legislative risks. AM Best considers Safety’s ERM as appropriate for the company’s and scope of operations. Safety is exposed to considerable catastrophe tail risk and has implemented strategies to reduce this exposure.

 

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Janet Hernandez
Senior Financial Analyst
+1 908 439 2200, ext. 5767
janet.hernandez@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Chris Draghi
Associate Director
+1 908 439 2200, ext.5043
chris.draghi@ambest.com

Jeff Mango
Managing Director,
Strategy & Communications
+1 908 439 2200, ext. 5204
jeffrey.mango@ambest.com

Categories
Business Sports & Gaming

Skechers elite runner Edward Cheserek wins second straight Carlsbad 5000

LOS ANGELES — (BUSINESS WIRE) — Skechers, The Comfort Technology Company™, celebrates 17-time NCAA national champion Edward Cheserek’s second consecutive win at the 2022 Carlsbad 5000 in Carlsbad, CA on Sunday, May 22. The Skechers elite runner, who also won the event known as the World’s Fastest 5K when it was last held in 2019, ran in 13:44, crossing the finish line one second ahead of the next competitor.


“After winning in 2019, I said I couldn’t wait to race again here next year. It ended up taking a little bit longer than we thought due to the pandemic, but feels so good to be back and to win again on this course is more than I could have hoped for,” said Cheserek, who raced wearing the Skechers Speed Elite. “It’s a bonus that a legend like Meb is involved in this race. Knowing how much he achieved with Skechers really got me ready to compete hard, and I’m honored to represent the team with a victory.”

 

Since the inaugural race in 1986, the World’s Fastest 5K has been more than just a catchy tagline. Numerous records have been set throughout the past 35 years, and the Carlsbad 5000 is an ever-tested proving ground for racing. Skechers elite marathoner Meb Keflezighi headlines a group of local running industry leaders who took ownership of the event in 2018.

 

“It’s been a long three years since the last Carlsbad 5000, but Edward’s repeat win was the perfect way to begin the next chapter of this fantastic race,” added Meb Keflezighi. “It’s great to be back with the runners and fans in the San Diego area and I loved watching another member of the Skechers running family push so hard to cross that finish line first.”

 

“Edward is a true competitor who never gave up to get the win in an exciting photo finish ending,” said Michael Greenberg, president of Skechers. “Runners around the world are inspired by his determination and focus, so we’re fortunate to have him on our team illustrating how the comfort and performance of Skechers GO RUN technical footwear can lead to the podium. We look forward to continuing this journey together and the exciting possibilities ahead.”

 

Originally from Kenya, Cheserek attended Saint Benedict’s Preparatory School in New Jersey, where he was named the Gatorade 2013 National Cross Country Runner of the Year, before choosing to continue his collegiate career at distance running powerhouse, University of Oregon. In 2013, Cheserek became the first freshman in school history to win the NCAA National Cross Country Championships and would then go on to repeat as cross country champion in his sophomore and junior years. By the end of his collegiate career, Cheserek was the winningest male athlete in NCAA Division I athletics’ history with a combined 17 national championships in cross country plus indoor and outdoor track and field. After going pro in September 2017, he set a new PR in the indoor mile with a win at the 2018 Boston University Valentine Invitational. Wearing custom Skechers GO RUN racing spikes, his time of 3:49.44 placed him at #2 all-time on the world record list for that distance. In April 2019, Cheserek won the Carlsbad 5000 in 13:29, tying the IAAF road world record and achieving a new road 5K personal best.

 

Since its debut with the first model of Skechers GO RUN worn by Meb Keflezighi in 2012, Skechers Performance footwear has earned respect throughout the running world and won numerous awards within the footwear industry. The entire Skechers GO RUN collection for men and women is available at Skechers retail stores and skechers.com as well as select retail partners.

 

About Skechers USA, Inc.

Skechers USA, Inc. (NYSE:SKX), The Comfort Technology Company™ based in Southern California, designs, develops and markets a diverse range of lifestyle and performance footwear, apparel and accessories for men, women and children. The Company’s collections are available in over 180 countries and territories through department and specialty stores, and direct to consumers through digital stores and 4,308 Company- and third-party-owned physical retail stores. The Company manages its international business through a network of wholly-owned subsidiaries, joint venture partners, and distributors. For more information, please visit about.skechers.com and follow us on Facebook, Instagram, Twitter, and TikTok.

 

This announcement contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include, without limitation, Skechers’ future domestic and international growth, financial results and operations including expected net sales and earnings, its development of new products, future demand for its products, its planned domestic and international expansion, opening of new stores and additional expenditures, and advertising and marketing initiatives. Forward-looking statements can be identified by the use of forward-looking language such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “plan,” “project,” “will,” “could,” “may,” “might,” or any variations of such words with similar meanings. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in forward-looking statements. Factors that might cause or contribute to such differences include the disruption of business and operations due to the COVID-19 pandemic; delays or disruptions in our supply chain; international economic, political and market conditions including the challenging consumer retail markets in the United States and the impact of Russia’s recent invasion of Ukraine; sustaining, managing and forecasting costs and proper inventory levels; losing any significant customers; decreased demand by industry retailers and cancellation of order commitments due to the lack of popularity of particular designs and/or categories of products; maintaining brand image and intense competition among sellers of footwear for consumers, especially in the highly competitive performance footwear market; anticipating, identifying, interpreting or forecasting changes in fashion trends, consumer demand for the products and the various market factors described above; sales levels during the spring, back-to-school and holiday selling seasons; and other factors referenced or incorporated by reference in Skechers’ annual report on Form 10-K for the year ended December 31, 2021 and its quarterly report on Form 10-Q for the three months ended March 31, 2022. Taking these and other risk factors associated with the COVID-19 pandemic into consideration, the dynamic nature of these circumstances means that what is stated in this press release could change at any time, and as a result, actual results could differ materially from those contemplated by such forward-looking statements. The risks included here are not exhaustive. Skechers operates in a very competitive and rapidly changing environment. New risks emerge from time to time and we cannot predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. Moreover, reported results should not be considered an indication of future performance.

 

Contacts

Jennifer Clay

SKECHERS USA, Inc.

jennc@skechers.com

Categories
Business Healthcare Lifestyle

Solstice HealthCommunications’ patient’s journey work is published in prestigious journal

FAR HILLS, N.J. — (BUSINESS WIRE) — #PatientJourney–Solstice, a full-service, woman-owned, communications agency is excited to announce that its patient journey project has been documented and published in the May issue of the Orphanet Journal of Rare Diseases, the portal for rare diseases and orphan drugs. “Mapping the PIK3CA-Related Overgrowth Spectrum (PROS) Patient and Caregiver Journey Using a Patient-Centered Approach” explains how Solstice used its novel methodology to develop a patient engagement roadmap for PROS conditions. The article can be accessed online via PubMed (Orphanet J Rare Dis 2022 May 7;17(1):189. doi: 10.1186/s13023-022-02338-1.)

A large pharmaceutical company selected Solstice to develop this journey, which was created in concert with patients, caregivers, and advocates as key partners. The interactive visualization of the PROS journey identifies areas of unmet need, barriers to care, and education topics, and has been used as a core strategic planning tool for disease awareness and launch readiness. “This type of work, spearheaded by one of our Certified Health Education Specialists, is essential for pharmaceutical companies looking to understand the patient experience and areas of unmet need, particularly in the rare disease space,” according to Nanske Wood, President of Solstice.

 

Patient engagement is increasingly recognized as an integral part of patient-centered healthcare. A better understanding of the entire patient experience through this journey analysis method will help Pharma/Biotech develop the appropriate patient and caregiver strategies to effectively address educational and support needs.

 

To find out more regarding how this unique methodology could benefit your brand/marketing efforts, contact Nanske Wood at nwood@solsticehc.net or 973-879-3819.

 

About Solstice

Solstice is a full service, privately held WBENC and WOSB agency based in Far Hills, NJ. The philosophy, at the heart of our work is that “messaging” is not nearly enough and that customers of all kinds—HCPs as well as patients and families—must be engaged with a brand to drive change. Our engagement efforts are built on a keen understanding of customer needs and the clinical encounters between patients, caregivers, and HCPs. The end goal being to drive behavioral change among key stakeholders to positively impact the lives of patients.

Contacts

Nanske Wood

nwood@solsticehc.net
973-879-3819

Categories
Business Environment Science

The U.S. Department of Energy grants $2.1M to Solidia Technologies to develop CO2 capture and utilization technologies for building materials

The R&D grant will fund the development of synthetic supplementary cementitious materials (SCMs) through direct capture of CO2 from cement plants

 

PISCATAWAY, N.J. — (BUSINESS WIRE) — #CO2–The U.S. Department of Energy (DOE) is providing $2.1 million in funding to Solidia Technologies® to develop and test methods for carbonating Solidia Cement™, broadening applications of Solidia’s low-carbon manufacturing technologies for building materials. With this funding, Solidia will develop processes for producing synthetic supplementary cementitious materials (SCMs) through direct capture and utilization of CO2 from the flu gas stream of an operating cement plant.


Funded by DOE’s Office of Energy Efficiency and Renewable Energy (EERE), Solidia will develop an efficient carbonation method of Solidia Cement in laboratory scale and perform tests in mortar and concrete to determine the suitability of this material as a cement replacement in concrete. This will provide a low CO2 alternative replacement material to OPC.

 

“We are proud to partner with the U.S. Department of Energy to continue innovating and ultimately deliver on our mission to provide commercially viable decarbonization technologies and sustainable solutions for the global construction and building materials industries,” said Solidia CEO Russell Hill, Ph.D.

 

The carbonated SCM will be added to concrete to create a product that will yield similar or better performance when compared to concrete made with commonly used SCMs, such as fly ash and ground granulated blast furnace slag.

 

“The DOE funding will advance our CCUS technologies and synthetic SCMs that can be easily integrated into Portland Cement-based concrete formulations, offering manufacturers a solution that is sustainable environmentally and economically, both lowering the carbon footprint and offering an alternative to traditional SCMs, which are in increasingly short supply,” added Dr. Hill.

 

About Solidia Technologies®
Based in Piscataway, N.J. (USA), Solidia Technologies® is a leading provider of decarbonization technologies and sustainable solutions to the construction and building materials industries. Investors include Imperative Ventures, Zero Carbon Partners, Canada Pension Plan Investment Board (CPP Investments), Breakthrough Energy Ventures, Prelude Ventures, PIVA Capital, John Doerr, BP, OGCI Climate Investments, Bill Joy, Kleiner Perkins, BASF Venture Capital, Holcim, Total Carbon Neutrality Ventures, Air Liquide Venture Capital (ALIAD), and other private investors. Follow Solidia on LinkedIn, Instagram, Twitter, and YouTube.

 

U.S. Department of Energy Office of Energy Efficiency and Renewable Energy (EERE)

The Office of Energy Efficiency and Renewable Energy (EERE) is working to build a clean energy economy that benefits all Americans. Our mission is to create and sustain American leadership in the transition to a global clean energy economy.

Contacts

Ellen Yui, YUI&Company, Inc.

o: 301-270-8571, m: 301-332-4135

ellenyui@yuico.com

Categories
Business Lifestyle News Now! Science

NEW ASCO Power blogs on data center industry innovation

Accessible through the Schneider Electric Blog site, read the new ASCO Power Technologies post about Powering Data Centers Through COVID-19 and Other Challenges.

FLORHAM PARK, N.J. — (BUSINESS WIRE) — ASCO Power Technologies, the world’s leading provider of critical power solutions, has released its newest blog post, which highlights the latest electrical infrastructure and backup power topics for data centers. It shares insights and industry knowledge from a leader who solves backup power challenges every day. The article is accessible through the Schneider Electric Blog site.

 

The new May 2022 post, Powering Data Centers Through COVID-19 and Other Challenges, presents key points from an ASCO Power Innovation Talk Webinar on data center trends and challenges with Gary Russinko, Principal at kW Mission Critical Engineering.

 

The article explores four topics:

  • How COVID-19 impacted data centers
  • Responding changes in data center design
  • The emerging demand for sustainability in data center operations
  • The benefits digitization brings to data center operators

 

ASCO Power blog posts add to the body of education for critical power systems and provide valuable information for power industry professionals, engineers, facility managers, and technicians. Each successive post links to recorded interviews along with supplemental technical briefs, white papers, application notes, or case studies that are relevant to each topic. Reader can access the newest post here, and can access the entire series of ASCO Power though leadership blogs at ASCO Blogs.

 

About ASCO Power Technologies

ASCO Power Technologies has provided power reliability solutions for more than 125 years. The firm designs, manufactures, services, and supports automatic transfer switches, power control equipment, load banks, and critical power management appliances. ASCO products serve mission-critical functions in data centers, healthcare facilities, telecommunication networks, commercial buildings, and industrial operations. To learn more about any of ASCO’s premium products and services, call (800) 800 ASCO (2726), email CustomerCare@Ascopower.com, or visit www.ascopower.com. To receive updates on the latest news and updates, follow ASCO’s Facebook and LinkedIn.

Contacts

Laurence Grodsky

+ 1 973 307 7352

Larry.Grodsky@ascopower.com

Categories
Business Culture Science Technology

Align announces additional leadership for UK and EMEA to support continued growth

LONDON — (BUSINESS WIRE) — #ITservices—Align, the premier global provider of technology infrastructure solutions celebrates significant growth throughout the UK and EMEA markets with management changes to support increasing demand. The appointment of Giulia Marcolina as Managing Director and Mike Konold as AV Solutions Director of Align’s UK-based headquarters, will enable the team to deliver innovative collaborative technology and state-of-the-art AV solutions.


Giulia brings over 25 years of IT experience, previously serving as Align’s Programme Manager, delivering corporate office relocation and consolidation projects for clients such as Blackrock, Total Gas and Power, and UBS. In her new role, she will lead Align’s team of project managers in building upon Align’s longstanding business relationships and delivering complex technology programmes including office design and build, cable infrastructure, and AV and security solutions.

 

“Giulia’s wealth of knowledge and experience across the spectrum of workplace technologies paired with her collaborative leadership style will be pivotal in Align meeting its strategic goals,” said Jim Dooling, CEO and President of Align. “With her expertise and keen attention to detail, she will be instrumental in driving revenue, increasing our presence throughout EMEA, empowering our team and improving the overall customer experience.”

 

“I am honored to have been given the opportunity to lead a strong team of industry specialists in pushing our strategic vision forward,” said Giulia. “I look forward to leveraging my expertise to grow our team, empower our professionals to provide innovative IT solutions across the UK and EMEA and to further our mission as a leading technology solutions provider.”

 

Align has also added Mike Konold, a 25-year veteran within the Audio-Visual, Telephony and Networks space. As the AV Solutions Director at Align, he will be working with clients on designing and integrating state-of-the art, dynamic AV solutions to enhance collaboration and employee engagement. Prior to joining the London team, he served as a Head of Collaboration Platforms at Schroders.

 

“Mike has an expansive and successful track record working in both AV environments and new builds,” said Giulia. “As the new AV Solutions Director, he will be essential in expanding our professional services portfolio.”

 

“The Align Team has a rich history of positioning and supporting clients for future growth and technological innovation, and I am excited to be a part of that,” said Mike. “Having come from the client side, I bring a unique perspective to the team and look forward to building and fortifying relationships with Align’s existing and future clients.”

 

About Align

Align is a premier global provider of technology infrastructure solutions. For over 35 years, leading firms worldwide have relied on Align to guide them through IT challenges, delivering complete, secure solutions for business change and growth. Align is headquartered in Dallas, Texas and has offices in New York City, London, Chicago, San Francisco, Arizona, New Jersey, and Virginia. Learn more at www.align.com, and follow @AlignITAdvisor.

Contacts

PR Contact:
Ashley Holbrook

212-546-6159

aholbrook@align.com

Categories
Business Lifestyle

Corvia adds REPAY as processing partner

AUSTIN, Texas — (BUSINESS WIRE) — #ecommerce—Corvia, Inc., a fintech company focused on making the complex simple by complementing world-class technology with strong business and regulatory acumen, announced today it has added Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY”), a leading provider of vertically-integrated payment solutions, as its newest payment processing partner. The relationship will provide additional fuel for Corvia’s aggressive growth trajectory by enhancing merchant and partner servicing and support in traditional retail and specialty e-commerce business segments.

“Adding REPAY as a processing partner gives us the flexibility to deliver more advanced solutions while optimizing both the partner and merchant experience,” said Corvia CEO Chad Anselmo. “We look forward to a productive, long-lasting relationship with REPAY.”

 

REPAY’s proprietary clearing and settlement platform offers fully customizable programs that deliver more autonomy and greater payment flexibility than traditional large acquirer programs. Its clearing and settlement solution is supported by high-touch service, a powerful payments engine, and intuitive reporting software designed to ensure on-time and accurate transaction processing.

 

“We look forward to working with Corvia to customize a clearing and settlement solution that will enable them to scale their operations and better serve their customers through enhanced payment experiences and a robust reporting platform,” said REPAY President Shaler Alias.

 

“Executing our strategic plans is top priority,” said Tedd Huff, head of corporate strategy for Corvia. “Adding REPAY as a processing partner strengthens our payments offering as we remain laser-focused on aggressive growth.”

 

About Corvia, Inc.

Corvia delivers safe, affordable, and reliable access to payments through an advanced risk ecosystem, a service-focused approach to enable success, strategic partnerships that enhance impact and inspire growth with a culture centered on community integrity and accountability. Corvia is a registered ISO of Fifth Third Bank N.A., Cincinnati, Ohio, Wells Fargo Bank, N.A. Concord, California, Cross River Bank, Fort Lee, New Jersey and MVB Bank, Fairmont, West Virginia. The company is a privately held, fast-growing fintech headquartered in Austin, Texas. For more information, please visit corviapay.com.

 

About REPAY

REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for clients, while enhancing the overall experience for consumers and businesses.

Contacts

Media Contacts

Peggy Bekavac Olson

Strategic Marketing for Corvia Payments

(480) 510-8120

corvia@smktg.com

Kristen Hoyman

Vice President of Marketing

REPAY

(404) 637-1665

khoyman@repay.com

Investor Relations Contact for REPAY

repayIR@icrinc.com

Categories
Business Lifestyle

FREE ASCO Power Technologies Webinar on selective coordination considerations in power transfer

  • The free, one-hour, online event will address key topics on selective coordination strategies.
  • Participants will learn about specifying appropriate automatic transfer switches.
  • Attendees can earn 1.0 PDH/0.1 CEU Credits.

 

FLORHAM PARK, N.J. — (BUSINESS WIRE) — As part of its Learning Series Webinar, ASCO Power Technologies is hosting a webinar on May 25 exploring circuit breakers, transfer switches, and selective coordination schemes. It will share how localizing overcurrent conditions result in less disruptions to loads served by a power distribution system. Sixty minutes in length, ASCO Learning Series Webinar: Selective Coordination Considerations in Power Transfer is a FREE live webinar for power industry professionals, engineers, facility managers, and technicians.

By participating in the event, attendees will be learn about:

  • The difference between Ampere Interrupting Capacity for circuit breakers and Withstand and Close On Ratings for transfer switches
  • UL 1008 7th Edition changes related to short circuit ratings
  • The challenge behind 7th Edition short circuit testing rules for specific breaker qualification
  • Why manufacturers provide Short Time Ratings on transfer switches

 

The webinar will conclude with a question and answer session where the presenter will answer questions about backup power technologies, regulations, and applications. Attendees will earn 1.0 PDH Credit or 0.1 CEU Credit.

 

About the Speaker

Daniel Barrios – Customer Project Technical Engineer, ASCO Power Technologies

Daniel has been in the Power Generation and Standby Power industry for 34 years and has worked for ASCO Power Technologies, Zenith Controls, Cummins Power, and Caterpillar. He is also an Instructor for the Electrical Generating Systems Association presenting Automatic Transfer Switch and Generator Paralleling Switchgear information.

 

Registration Information

The event will be held at 11:00 AM Eastern Daylight Time on May 25, 2022. All interested professionals can register for this free event here.

 

About ASCO Power Technologies

ASCO Power Technologies has provided power reliability solutions for more than 125 years. The firm designs, manufactures, services, and supports automatic transfer switches, power control equipment, load banks, and critical power management appliances. ASCO products serve mission-critical functions in data centers, healthcare facilities, telecommunication networks, commercial buildings, and industrial operations. To learn more about any of ASCO’s premium products and services, call (800) 800 ASCO (2726), email CustomerCare@Ascopower.com, or visit www.ascopower.com. To receive updates on the latest news and updates, follow ASCO’s Facebook and LinkedIn.

Contacts

Laurence Grodsky

+ 1 973 307 7352

Larry.Grodsky@ascopower.com

Categories
Business Culture

Marotta Controls opens second facility in Parsippany, New Jersey

Rapid Growth Drives Acquisition of New, Modernized Workspace for Executive and Main Business Functions

 

MONTVILLE, N.J. — (BUSINESS WIRE) — #additivemanufacturing—Marotta Controls, a rapidly growing aerospace and defense supplier, announces the opening of a second facility located in Parsippany, New Jersey. The company will retain its Montville buildings, using the freed-up space to expand its production capacity, development labs and testing facilities.


The move is driven by a significant growth across Marotta Controls, which has operated solely out of its Montville location for more than seven decades. Hiring efforts over the last few years introduced more than 200 staff members to its employee base. In parallel, the company’s solutions in markets outside its legacy valve offerings are shifting from development phase to volume production, creating the need for exponentially more manufacturing and assembling capacity on site.

 

“Demand for our advanced solutions is shifting from custom orders to large volume orders in several areas,” said Patrick Marotta, President & CEO, Marotta Controls. “Notably, we needed to increase production capacity for our Control Actuation Systems and Power Systems as our expertise and innovations in these areas draw more attention from our customers. We are far from where we started nearly eighty years ago when we focused on a valve-only portfolio. Our building resources simply needed to accommodate that evolution. It was an exciting problem to have.”

 

The company’s executive and main business functions—including engineering, human resources, program management, marketing and finance—will relocate to the Parsippany address. Spanning 50,000 square feet, the new office is structured as a modern, open workspace. The interior design intends to foster stronger employee collaboration and physical flexibility as Marotta Controls implements a formalized, hybrid work environment. The Parsippany space will also house a new development lab for Marotta’s power and control actuation technologies. Production of those solutions will still occur at the Montville location, which is now at 130,000 square feet.

 

“Marotta Controls is unique. We are a New Jersey born, privately-owned business serving our industry’s leading defense contractors. We offer enterprise-class capabilities with the nimbleness of a small business. Our success is built solely on organic growth and the strategic introduction of new capabilities. These traits have all resulted in us being one of the only long-standing aerospace and defense suppliers covering the breadth of verticals we do today. We intend to continue investing in our company, our people, and our community to maintain that trajectory for decades to come,” added Patrick.

 

Ribbon Cutting Ceremony

A formal ribbon cutting ceremony for the new Parsippany office will occur in June 2022, details to follow.

 

About Marotta Controls

Founded in 1943, Marotta Controls is a fully integrated solutions provider which designs, develops, qualifies and manufactures innovative systems and sub-systems for the aerospace and defense sectors. Our portfolio includes pressure, power, motion, fluid, and electronic controls for tactical systems, shipboard and sub-sea applications, satellites, launch vehicles, and aircraft systems. With over 200 patents, Marotta Controls continues to build on its legacy as a highly respected, family-owned small business based in the state of New Jersey. Twitter: @marottacontrols LinkedIn: Marotta Controls, Inc.

Contacts

Heather Ailara

211 Communications

+1.973.567.6040

heather@211comms.com

Katee Glass

Marotta Controls, Inc.

kglass@marotta.com

Categories
Business Environment Lifestyle Local News

NJ phases out single-use plastic and paper shopping bags at grocery stores

The “Bag Up NJ” campaign is the New Jersey Clean Communities Council’s new single use plastic and paper bag ban outreach campaign, which has a simple message: Bring your own reusable bag(s) when you shop.

 

 

This campaign educates and reminds consumers about their options for sustainability at the checkout counter. Consumers can bring their own reusable bags when they shop and recycle their plastic bags.

 

On Nov. 4, 2020, Governor Phil Murphy and the New Jersey Legislature enacted the most progressive bag ban law in the country. The law prevents litter and encourages the use of reusable bags by phasing out single-use plastic and paper bags.

 

The law bans plastic bags, regardless of thickness, at grocery stores and retail outlets, as well as paper bags at grocery stores measuring more than 2,500 square feet. It also bans polystyrene foam food service products; and makes plastic straws at restaurants available only upon request.

While we often hear about the environmental impact of disposable plastic bags, it is important to remember that disposable paper bags have a significant impact on the environment too.

 

Papermaking requires large inputs of water, energy, chemicals, and wood, and produces various wastes and emissions that must be controlled or treated. Additionally, paper bags require 10 times the amounts of trucks to deliver the same quantity of bags, resulting in increased truck traffic and diesel emissions.

 

 

The statewide ban on disposable bags went into effect on May 4, 2022. It will create an effective and uniform sustainable policy for all shoppers and business owners in NJ.

 

Reducing waste and litter statewide is a good thing; “This smart, uniform statewide law preempts all local ordinances.” said New Jersey Food Council CEO Linda Doherty, who is also president of the New Jersey Clean Communities Council.

 

Business Compliance:

For more information about business compliance, please contact Bag Up NJ partner New Jersey Business Action Center.

 

More details of the legislation:

The Bag Ban went into effect on May 4, 2022

  • The bill provides that the Department of State in consultation with the state Department of Environmental Protection will establish a program to assist businesses with compliance. This will include FAQs, outreach and educational programs, public service announcements, and distribution of free reusable carryout bags through a partnership with the Clean Communities Program which is receiving $500,000 per year for the first three years after the effective date of the law.
  • One year after enactment, November 4, 2021, plastic straws can only be provided upon request of a customer. Packages of straws and items like juice boxes may still be sold in stores.
  • The bill states that municipalities and counties cannot adopt any new ordinances governing plastic and paper bags, polystyrene, and straws. Ordinances already in effect will be superseded according to the various products’ phase out schedules.
  • The bill provides for penalties: a warning for a first offense, up to $1,000 for a second offense, and up to $5,000 for a third or subsequent offense. Penalties for violations will be deposited in the Clean Communities Program Fund, except that a municipality may retain 30 percent of any penalty it collects.
  • The bill establishes a Plastics Advisory Council in the state Department of Environmental Protection, whose members will monitor implementation of the law and evaluate its effectiveness. The Council will be comprised of 16 members, including 4 representing stores and food service businesses.