Nordson Corporation’s ( NDSN Quick Quote NDSN - Free Report) business unit — Nordson Industrial Coating Systems — recently announced a deal with Zoomlion Group, a leading global construction machinery company. Notably, the companies will collaborate to offer robotic powder coating technology throughout the world.
Per the collaboration, Nordson will be responsible for providing advanced powder coating products and technologies for Zoomlion’s heavy construction machinery line. Both the companies will emphasize on two of Nordson’s latest technologies, the Encore Engage controller and the Wisdom smart connected platform. Notably, with the help of the cloud, the company’s Encore Engage connects to the Wisdom smart connected platform, pairing for an Industrial Internet of Things (“IIoT”) solution. These innovative technologies help in providing a clear picture of powder coating operation to customers.
Nordson’s leading products and technologies will support Zoomlion in developing an advanced coating line in its new industrial park, based in Changsha, China. It’s worth noting here that Nordson has also announced its intention to extend this collaboration in the United States and Europe.
Existing Business Scenario
Nordson stands to benefit from the diversified product portfolio and large customer base in the packaging, nonwovens, electronics, medical, appliances, energy, transportation, building and construction, and general product assembly and finishing industries. For fiscal 2019 (ended Oct 31, 2019), the company expects strength in consumer non-durable products end markets and medical products end markets, coupled with its growth initiatives to aid organic sales.
The company’s buyout of Clada Medical Devices in October 2018 strengthened its businesses under the Advanced Technology Systems segment. Moreover, the buyout of Optical Control GmbH in July 2019 has been augmenting Nordson Electronic Solutions product lines within the company’s Advanced Technology Systems segment.
In the past month, shares of this Zacks Rank #3 (Hold) company have lost 1.8% against the
industry’s growth of 2.5%. Stocks to Consider Some better-ranked stocks in the same space are Kaman Corporation KAMN, Tennant Company TNC and DXP Enterprises, Inc. DXPE. While Kaman and Tennant sport a Zacks Rank #1 (Strong Buy), DXP Enterprises carries a Zacks Rank #2 (Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here Kaman delivered an average positive earnings surprise of 7.72% in the trailing four quarters.
Tennant delivered an average positive earnings surprise of 28.65% in the trailing four quarters.
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