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Exam Code: FN0-202 Practice exam 2022 by Killexams.com team
FNC4-7E Foundry Networks Certified Layer 4-7 Engineer
Foundry Certified learn
Killexams : Foundry Certified learn - BingNews https://killexams.com/pass4sure/exam-detail/FN0-202 Search results Killexams : Foundry Certified learn - BingNews https://killexams.com/pass4sure/exam-detail/FN0-202 https://killexams.com/exam_list/Foundry Killexams : RIT Certified and Foundry collaborate on cryptocurrency course

Underserved students from the city of Rochester with a strong interest in cryptocurrency and blockchain technology recently participated in an immersive, weeklong course at RIT to learn the latest about digital currency.

A mystery to many people, cryptocurrency is a type of currency that’s stored exclusively in a digital format—not issued or maintained by a central authority like a government or bank. It’s “issued with cryptography, distributed consensus mechanisms, and economic incentive alignment,” according to Jonathan S. Weissman, a senior lecturer in computing security in RIT’s Golisano College of Computing and Information Sciences and teacher of the class.

“Digital currency is interesting to me because it’s fun learning about how it was created and all aspects related to it,” said Teresa Spivey, a Rochester, N.Y., resident who participated in Weissman’s class inside Eastman Hall. “My future plans are to learn everything I can and really find my passion for what I want to do forever. I will figure that out by learning and experiencing other classes and opportunities like this one.”

That’s exactly the mission of RIT Certified, which launched in June and aims to provide a wide range of alternative education courses, certificate programs, and skill-based learning experiences targeting people beginning their careers, changing roles, maintaining their existing job, or advancing in the workplace. RIT Certified offered the class collaboratively with Foundry, a Rochester, N.Y.-headquartered and wholly-owned subsidiary of Digital Currency Group (DCG) focused on digital asset mining and staking.

The class was the outcome of discussions between RIT Certified, Foundry, and University Advancement on how they might partner in supporting alternative pathways to training in the space of cryptocurrency and mining. The Foundry Scholars program resulted in a gift by the company to support seven underserved students this summer and 13 more next year to experience weeklong, industry-focused classes focused on the field of cryptocurrency and blockchain.

Both Foundry and RIT Certified are actively invested in career and technical education, not only for K-12 students, but for traditionally underserved populations—for whom the scholarships are targeted.

“We believe that employer-driven educational experiences for high school students will only Strengthen their ability to be successful,” said Dennis Di Lorenzo, chief business officer for RIT Certified. “A program like this brings students from communities with limited opportunities to a college campus, provides them with a college experience, and industry exposure. It’s about changing their perspective on the future of work.”

Foundry Academy Executive Director Craig Ross ’06 (telecommunications engineering technology) said the class fit “Foundry CEO Mike Colyer’s vision of Western New York becoming the center for innovation in blockchain technology.” Ross heads up the company’s new initiative to train and develop top technicians for the fast-growing bitcoin mining industry.

“Considering RIT’s reputation of academic excellence and prominence in Western New York, Foundry and RIT are a natural partnership,” Ross said. “The goal of this course was to provide an overview of bitcoin mining and cryptocurrencies to historically marginalized groups in Rochester, ultimately working to break down barriers to employment in the industry.”

“We believe that the Bitcoin and cryptocurrency industry is a hotbed for innovation, just like the Internet and mobile revolutions,” he added. “It is Foundry’s goal to ensure that all interested members of our community—no matter their socioeconomic status—can capitalize on this exciting technology and be contributing members of the blockchain revolution.”  

Weissman said his course’s objectives included “students walking away with a granular understanding of cryptocurrencies and blockchains and the ability to reason about newfangled technologies.”

“I wanted to provide them the familiarity with trends and notable projects in the field and industry,” he noted, “along with the confidence to pursue opportunities for participation and contribution in the future.”

During the weeklong class, Weissman asked his students questions such as what problems do cryptocurrencies and decentralized applications help solve; where do they see themselves in this industry; and how are blockchain entrepreneurs disrupting industries now—and how might they do so in the future?

“Blockchains can be used in many different ways besides cryptocurrencies,” Weissman said. “Blockchain is often listed as one of the leading cutting-edge technologies of the future.”

Adrian Hale, director of Economic and Community Development at Foundry, said he hopes that programming like the one at RIT “provides the necessary groundwork for people interested in our industry to become familiar with the fundamentals that will enable them to grow into fully functional contributing members of a work team and the broader blockchain community.”

About RIT Certified

RIT Certified provides alternative education-to-employment pathways, offering applied training which serves both individuals in and out of the workforce and working professionals. Committed to promoting economic mobility and sustainability for individuals from all sectors of the workforce across the region, nation, and globe, RIT Certified is a partner to employers, helping organizations develop potential, fill core and specialized skills gaps, provide outcomes-based training and development to nurture and promote talent, and Strengthen the models by which employers evaluate and assess talent. RIT Certified will begin offering a diverse portfolio of workforce development and professional training courses and certificate programs late this fall.

About Foundry LLC

A subsidiary of DCG, Foundry LLC was created to meet the institutional demand for better capital access, efficiency, and transparency in the digital asset mining and staking industry. Headquartered in Rochester, N.Y., Foundry leverages its institutional expertise, capital, and market intelligence to empower participants within the crypto ecosystem by providing the tools they need to build tomorrow's decentralized infrastructure. For more information, go to Foundry’s website.

Mon, 08 Aug 2022 00:37:00 -0500 en text/html https://www.rit.edu/news/rit-certified-and-foundry-collaborate-cryptocurrency-course
Killexams : Fired up for the future

As another potentially devastating wildfire season begins, California is facing a shortage of wildland firefighters. To meet this challenge, the Marin County Fire Department and UC Berkeley have partnered to form FIRE Foundry (Fire, Innovation, Recruitment and Education), a program that recruits young adults from underrepresented communities for a career in fire service and trains them on cutting-edge firefighting technologies.

This summer marks the first real fire training exercises for the inaugural cohort of FIRE Foundry recruits. Through UC Berkeley’s Disaster Lab, these firefighters in training have participated in a controlled burn of about 300 acres above the city of Novato, California, while working alongside Berkeley engineers field-testing mobile energy generators, electric emergency and fire prevention vehicles, artificial intelligence wildfire detection systems and other innovative tools.

“FIRE Foundry is unique because it aims to remove both the barriers that prevent underrepresented groups from pursuing careers in fire service and the barriers that impede technology adoption in that field,” said Thomas Azwell, who leads Disaster Lab, UC Berkeley Engineering’s multi-faceted program that works to develop and deploy innovative engineering solutions for environmental challenges. “We hope that it may serve as a template for future recruiting and training programs.”

The incident command post holds its morning briefing in preparation for the Wildland Academy training on a live fire. Credit: Thomas Azwell/UC Berkeley Disaster Lab
Members of the seasonal Tamalpais Fire Crew, also known as the Tam Crew, create a firebreak so cameras can be set up to capture live video feeds of smoke and fire. These live feeds will be used to train a visual artificial intelligence (AI) model for early fire detection. Credit: Thomas Azwell/UC Berkeley Disaster Lab
A DANNAR remote-controlled electric utility vehicle and energy platform is tested for use during wildfires. This innovation allows firefighters to avoid being in the driver’s seat during a high-risk activity, such as creating a firebreak ahead of a rapidly moving wildfire. It also can provide clean energy to power the incident command post. Credit: Thomas Azwell/UC Berkeley Disaster Lab

Breaking down the barriers

FIRE Foundry is a multiorganizational collaboration led by the Marin County Fire Department in partnership with UC Berkeley, the Marin County Office of Equity, several other Marin fire agencies, the College of Marin and the Conservation Corps.

Two years ago, Marin County Fire Department Fire Chief Jason Weber approached Azwell about creating a development program to increase diversity in the fire service, specifically by recruiting more people of color and women. Azwell was on board to create a partnership that would draw from the many resources of Disaster Lab.

An environmental scientist with experience in disaster response, Azwell had recently shifted his focus from remediation projects abroad to the growing scourge of wildfires in California. He believed that communities would benefit from more diverse fire crews, and he saw an opportunity to educate this next generation of firefighters on new technologies to combat wildfires.

Initially, Weber and Azwell identified a lack of outreach and financial hurdles as the reasons why there were so few firefighter applicants from traditionally underrepresented communities. Azwell and Weber decided to expand the development team for the program to bring in additional expertise in equity-centered program design and technology education.

Sukh Singh, manager of Disaster Lab; Joshua Dimon, visiting scholar with Disaster Lab; and Sofia Martinez, equity analyst for the Marin County Office of Equity, began to flesh out the design for FIRE Foundry with Azwell and Weber. Together, they learned that to reverse the low numbers of women and people of color in the fire service, they would need a more holistic approach to outreach. This included identifying clear pathways into the fire service, building a sense of belonging through apprenticeship and mentorship, and providing educational counseling for those from communities underserved by quality school systems.

FIRE Foundry aimed to fill those needs, beginning with its first cohort. Of those 19 recruits, the majority identify as Latinx and African American, and eight recruits identify as women or nonbinary.

“We created a program that provides the wraparound services — from financial support to mentoring — to support recruits through the education piece, their Emergency Medical Technician [EMT] certification and Firefighter 1 Academy,” said Azwell. “We want them to have what they need to not only be qualified but to be the most exceptional candidates applying for fire service careers.”

Support starts early when recruits are as young as 18 years old. It begins with the coursework, offered in collaboration with the College of Marin, and continues through the rigors of the firefighting academy.

After a year in the FIRE Foundry program, the participants will have earned certificates for Emergency Medical Responder (EMR) and EMT, and they will have finished the required prerequisite coursework on introductory fire operations and science, plus wildland fire and emerging fire science and technology skills.

The program continues to provide support for candidates as they progress through the fire academy and to prepare academy graduates for job interviews. After graduates are hired and work for a year or so, program managers will ask them to return as mentors for future recruits in the program.

According to Weber, the partnership with Berkeley is an integral part of the experience. “I think the importance of secondary education and having an institution like Berkeley that has such a wonderful reputation just on its own brings value to the program,” he said.

A DANNAR remote-controlled electric utility vehicle configured with a dozer bucket is evaluated for its ability to cut firebreaks and remove vegetation. Credit: Thomas Azwell/UC Berkeley Disaster Lab
Using a drone, a sensor robot can be air-deployed near a wildfire to collect real-time data, including temperature, humidity and toxic chemical levels. The Disaster Lab helped the UC Berkeley startup Squishy Robotics, which produces the robot, access a live fire training to demonstrate its products. Credit: Thomas Azwell/UC Berkeley Disaster Lab
Disaster Lab manager Sukh Singh sets up a cellular connection for a pan-tilt-zoom camera that will run a visual AI model for detecting smoke and fire. Credit: Thomas Azwell/UC Berkeley Disaster Lab

Training on emerging firefighting technologies

Azwell also works with colleagues to integrate the fire detection and response technologies being developed through Disaster Lab into the FIRE Foundry training program. Because Disaster Lab brings together research resources from a host of agencies and organizations — including UC Berkeley labs, fire technology startups, fire agencies, the Department of Defense and multiple branches of the military — recruits are introduced to some of the latest tools and methods being developed for firefighting.

“We work with Esri, which makes GIS [geographic information system] software that people can use to map out vegetation and roadways,” said Azwell. “And we teach the recruits how to use satellite data and scientific training from NASA for remote fire detection to inform early response.”

Weber believes that bringing emerging technology into the fire service, especially for those just starting their career, is a critical piece of the program. “It will allow them not only to test the technology that is emerging, but for this next generation — which is much more tech savvy than all of us existing firefighters — it will provide them the opportunity to use and embrace new and emerging technologies in the fire sciences,” he said.

The Wildland Academy, a program run through Disaster Lab, gives FIRE Foundry recruits access to critical experiential learning opportunities, from performing controlled burns to field-testing innovative technologies developed by UC Berkeley engineers and partner organizations.

Many of these technologies were developed by startups incubated through the CITRIS Foundry and the Sutardja Center for Entrepreneurship & Technology. Some originated with the Challenge Lab courses, which focus on gaps in innovation and ideas for meeting those needs, taught by Azwell at Disaster Lab.

One of the technologies being tested at the Wildland Academy is a sensor designed by Squishy Robotics, a company spun off from research that began at Berkeley. Its co-founder, Alice Agogino, professor of mechanical engineering, and her team have created a sensor package surrounded by a tough but flexible exoskeleton that can be used to collect data in various disaster situations. Firefighters, for example, can toss this sensor near a fire to monitor thermal data as well as toxicity, smoke, heat and other valuable metrics. FIRE Foundry recruits will have the opportunity to interact with Squishy Robotics at the next Wildland Academy and provide their feedback on these sensors.

“Having that kind of applied opportunity isn’t only good for the scientists innovating, but it’s also good for the firefighters who are the potential adopters of this technology,” said Azwell. “Then they get to communicate their needs directly to the innovators.”

Other technologies that will be evaluated in the field at the Wildland Academy include a distributed network of sensing devices that continuously monitor grid equipment, such as poles and power lines, for changes in their mechanical behavior to determine their operational integrity. Developed by Gridware, a company co-founded by UC Berkeley Engineering and CITRIS Foundry alumnus Tim Barat (B.S.’19, M.S.’20 EECS), this early-detection system helps spot issues before they can lead to power grid failures and wildfires.

“These are examples of opportunities for Berkeley scientists and the recruits to learn about indicators of potential fire and the technologies that can detect them,” said Azwell.

A few technologies have already found their way into today’s firefighting toolbox, and the Wildland Academy will provide an opportunity for recruits to train on those devices, including drones with infrared capabilities to see fire through the smoke.

“We’re training our recruits to get their license to fly drones, so we’ll do some of that training during the controlled burn,” said Azwell. “But there’s also interest in specialized drones that can lift a heavy payload and deliver things like hoses to crews up on a hill. We’ve invited the company that makes those drones to our next controlled burn, along with a company that makes autonomous bulldozers that you can drive remotely into a risky area to cut a firebreak, so firefighter dozer operators do not have to get as close to the fire.”

According to Azwell, introducing new technologies to the fire service can be challenging, since firefighters have been using many of the same technologies for generations and it requires a level of expertise to properly evaluate new tools. He hopes that these creative collaborations with industry, academia and government organizations can continue to help move innovation out of the lab and into the field to pave the way toward technology adoption.

“When our recruits go into job interviews, they’ll have a résumé that says they collaborated with UC Berkeley’s Disaster Lab to develop and evaluate fire mitigation technologies,” said Azwell. “By bringing that experience and extra education into their careers, our recruits not only stand out when applying, but also can help the fire service make informed decisions around adoption and shape the future of firefighting.”

Wed, 27 Jul 2022 12:00:00 -0500 en text/html https://www.universityofcalifornia.edu/news/fired-future
Killexams : Foundry Launches Logistics Arm For Bitcoin Mining Equipment Killexams : Foundry Launches Bitcoin Miner Logistics Arm - Bitcoin Magazine - Bitcoin News, Articles and Expert Insights Skip to main content Thu, 28 Jul 2022 01:40:00 -0500 en text/html https://bitcoinmagazine.com/business/foundry-launches-bitcoin-miner-logistics-arm Killexams : Foundry Announces Foundry Academy to Train Technicians for Bitcoin Mining Industry Foundry Announces Foundry Academy to Train Technicians for Bitcoin Mining Industry

PR Newswire

ROCHESTER, N.Y., July 19, 2022

One-week program taught by experienced instructors from industry and academia provides hands-on training for people looking to join the bitcoin mining industry

ROCHESTER, N.Y., July 19, 2022  /PRNewswire/ -- Foundry Digital LLC ("Foundry"), a wholly-owned subsidiary of Digital Currency Group ("DCG") focused on digital asset mining and staking, today announced the launch of Foundry Academy, an initiative to train and develop top technicians for the fast-growing bitcoin mining industry. The program's first session successfully concluded in May, with all students now employed at various companies throughout the mining industry. The next session, registration for which is now open, is scheduled to begin on September 12, 2022.

As the crypto and blockchain industry continues to expand, the bitcoin mining industry has created a growing opportunity for professionals who possess the technical know-how required to scale. Foundry estimates that facilities with a total power of around 2-3 gigawatts will be built out over the next 12 months alone, creating thousands of technical job openings.

While there are multiple programs and workshops that offer some sort of blockchain or bitcoin mining education, no single certification exists in the industry today that combines hands-on training and workforce development. Foundry Academy's goal is to be the single source for comprehensive education that connects talent and placement in the cryptocurrency mining space. The Academy is open to all entrants, regardless of their age and professional background.

Foundry Academy's one-week program combines hands-on training and career-readiness for both aspiring mining technicians and those who already have some industry experience. The courses are conducted at a mining facility in Rochester, New York and cover everything from bitcoin fundamentals to the nuances of miner diagnostics and maintenance. Instructors of the program are experienced technicians as well as experts from mining companies and academia. Through workshops, instructions, and mock interviews, the Academy ensures that all participants have a top-notch resume along with solid skills and techniques required for efficient cryptocurrency mining.

The Academy also utilizes Foundry's partnerships and network among most of the biggest mining operations to help participants of the program get a job in the bitcoin mining field. The program is led by Craig Ross, who joined Foundry in early 2022.  Prior to Foundry, Craig worked for 22 years in various roles at SUNY Geneseo and SUNY Brockport.

"Foundry Academy provides a comprehensive curriculum to prepare those who are seeking a career in bitcoin mining. Our program covers the fundamentals of cryptocurrencies and blockchain technology, technical skills required for mining, along with other skills that are needed to land jobs and thrive in their career," said Craig Ross, Executive Director of Foundry Academy.

"I wanted a good certification, and I wanted to leave a program able to show an employer exactly what I know and what I can do. After completing the Academy, I feel that I received industry training that only Foundry could provide at this level," said Quinn Carr, a student of the first session of the program who is now employed by a publicly traded bitcoin mining company.

Foundry Academy is part of Foundry's mission to standardize and professionalize the bitcoin mining industry for institutions, and also provide miners with the resources needed to build, maintain, and secure decentralized networks. Foundry's other mining-focused business verticals and ventures — its equipment financing business, the FoundryX marketplace for mining machines, the Foundry USA Pool, and advisory services — are all among the most recognizable names in their respective fields.

For more information on the upcoming program, its courses, its schedule or to apply to it, please visit www.foundryacademy.com or email academy@foundrydigital.com. 

About Foundry

A subsidiary of DCG, Foundry was created to meet the institutional demand for better capital access, efficiency, and transparency in the digital asset mining and staking industry. Headquartered in Rochester, NY, Foundry leverages its institutional expertise, capital, and market intelligence to empower participants within the crypto ecosystem by providing the tools they need to build tomorrow's decentralized infrastructure. For more information, please visit foundrydigital.com.

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SOURCE Foundry

Tue, 19 Jul 2022 01:12:00 -0500 en text/html https://www.morningstar.com/news/pr-newswire/20220719ny20488/foundry-announces-foundry-academy-to-train-technicians-for-bitcoin-mining-industry
Killexams : Rethinking Competitive One Upmanship Among Foundries

Just because features are smaller doesn’t make them more attractive.

The winner in the foundry business used to be determined by who got to the most advanced process node first. For the most part that benchmark no longer works.

Unlike in the past, when all of the foundries and IDMs competed using basically the same process, each foundry has gone its own route. This is primarily due to the divergence of end markets, and the realization that as costs increase, only a handful of companies would be able to afford or need the most advanced nodes. And while performance and power are still critical elements of a design, there are multiple ways to get there.

This shift is less about being able to develop chips at the most advanced process geometry and more about getting a competitive solution — meaning fully or semi-customized — to market as quickly as possible. For most applications, this depends upon architectures, partitioning according to function and the priorities of a particular market segment. And in most cases, it has to be profitable even in smaller volumes. Density still matters, but that density may be a combination of accelerators and other chips in an advanced package.

One by one, foundries have struggled to explain this because the answer is as diffuse as the customer base. GlobalFoundries’ decision to postpone its move to 7nm and instead concentrate on 14nm finFETs and FD-SOI was viewed as a sign of weakness. UMC decided not to push past 14nm, as well. Both UMC and GlobalFoundries are reporting strong growth..

Samsung and TSMC have made it to 7nm — roughly the equivalent of Intel’s 10nm — and both are now actively pushing to 5nm and 3nm. But logic density will only carry a design so far. The general consensus is that shrinking to 5nm and 3nm only will provide power/performance improvements of about 15% to 20%, while targeting specific functions through architecture and hardware-software co-design can boost performance by up three orders of magnitude at the same power.

This is why Intel’s focus on interconnects over the past few years, both on-chip (purchase of NetSpeed Systems) and off-chip (CXL and EMIB), is a big deal. The company is using internally sourced chiplets to customize solutions for customers, which also is a big deal. So far, only large IDMs, such as Intel, AMD and Marvell have successfully used chiplets to offer a menu of possible configurations, and of the three, only Intel still has its own fab.

That’s not the only winning approach. UMC’s focus on automotive certification will be a huge advantage once the auto market begins ramping up again. And GlobalFoundries’ focus on FD-SOI offers a planar (and potentially a packaged) alternative to bulk CMOS, which can go a long way in providing unique solutions at a lower price point for edge and IoT devices. The big wild card here is SMIC, which is pushing a whole bunch of different options for an increasingly insular supply chain.

The foundry business has changed significantly, and so have the metrics for success. Rather than a competitive race where every foundry is competing for the same prize, the manufacturing world is splintering into very distinct markets. And with smart phones growth flat, and few devices that can generate enough volume to warrant developing SoCs at the latest node (big cloud companies such as AWS, Google and Alibaba are the exception, because they can amortize the chip cost across systems of systems), this makes a lot of sense from both a business and a power/performance standpoint. There is no grand prize anymore for being the first to shrink features. The end markets are heading for mass customization, even in the cloud, and the foundries are following the various growth vectors.

So while Moore’s Law may continue in theory, it certainly doesn’t look anything like the original premise of doubling the number of transistors on a piece of silicon every 18 or 24 months. The economics are in customized solutions where datapaths and power delivery networks are unimpeded, and where those functions that define a solution are given top priority. Being first out the door with a solution for those individual markets is where the money is, and that will have a big impact on how the foundry business continues to evolve.

Ed Sperling

  (all posts)
Ed Sperling is the editor in chief of Semiconductor Engineering.
Tue, 02 Aug 2022 12:00:00 -0500 en-US text/html https://semiengineering.com/rethinking-competitive-one-upmanship-among-foundries/
Killexams : The Foundry’s Creative Community Series: Nickel City Cycles

The variety of creative entrepreneurs planting their flags at the Foundry keeps on growing. Nestled in a corner adjacent to the resident metalworkers, you’ll find Nickel City Cycles–Buffalo’s only custom bicycle builders.

For the past three months, partners Patrick Meszler and Nathan Klumpp have been honing their frame design and production skills. Meszler works full-time at Campus Wheelworks and has been professionally trained in fitting bikes. “I’ve been racing bikes and mountain bikes and wrenching since I was 14 years old, so I’ve been involved in the cycling world for a long time,” he said.

Experience has taught Meszler that having a bike custom built completely changes the experience for a rider. “I’m shaped really funny, so none of the stock frame sizes fit me well,” he said with a smile. “I have absurdly short legs and short femurs, so I don’t fit anything with traditional angles. I had a bike custom built for me a couple years ago with a custom frame and it’s so much nicer to ride on.”

“Most bikes will fit a lot of people OK,” he added. “The bikes we make fit one person perfectly. That makes a huge difference over a hundred-mile bike ride.”

When it came time to launch his own bike building venture, Meszler’s “addiction to bikes” paired perfectly with Klumpp’s welding skill. “Nate only started riding bikes last year, but he’s a certified welder. He went to BOCES to specialize in aluminum welding, which is near impossible for the thickness we’re doing, so the fact that he can melt them together is incredibly impressive,” Meszler said. “I’m kind of like the brains behind the whole operation and Nate is the brawn.”

Sitting in the middle of their operation at the Foundry is a fit bike, where the whole process begins. Meszler will have a customer hop on the fit bike, where he can adjust the size and angles of the frame based on their body type and what kind of biking they’re interested in doing.

“Basically while they’re on the bike we’ll be talking about what kind of ride they want,” Meszler said. “If they want it to be an unforgiving race bike–it will be really, really stiff so all the power goes to the wheel. We would make that out of aluminum, because aluminum’s tubes are fat so they resist flex a lot better.”

For those looking for more comfort than speed in their ride, Meszler says steel is the way to go. “Steel is a really comfortable material and its tubes are a lot thinner. That way it can flex more, so that when you hit a bump it flexes and it rides a lot nicer. It’s really smooth–you can ride on it for hours and hours and not get numb hands.”

Meszler says that while the bike industry has been heavily pushing carbon-fiber frames, he believes that metal is a wiser choice for its durability. “Carbon fiber is like this overly expensive plastic that can break when you fall, then you’re paying $5,000 to replace the bike,” he said. “I love aluminum–it rides really great and you can smash it and it’ll hold together.”

“Most people write off steel as a heavy, cumbersome, terrible material to ride on,” he added, “but it’s so comfortable. It’s smooth, it’s snappy, and it’s exactly everything carbon fiber is, just 100 grams more. It’s a lot harder to sell steel in a bike shop because steel is old world and people want new, so bike companies have abandoned it–except for small builders like us.”

Once they’ve nailed down the appropriate materials and the measurements, Meszler plugs it all into their designing tool–a program called rattleCAD. After the design is in place, the tubes are ordered (most of their metals are sourced from Columbus Tubi and then cut and filed to fit together. From there, they are placed inside a jig that holds them all in place so that Klumpp can start welding everything together.

“We also designed all of our own tooling, so our jigs are designed by us and made by us,” Meszler said. “I got in a really bad crash this past year in a race, so I had some down time to start thinking about how to design a jig, and that’s kind of where this whole thing came from.”

In the past three months, the guys at Nickel City Cycles have already built four frames and are currently working on their first custom order. Meszler test-rode one of their first frames, taking it on a successful 400-mile ride, hitting 50 mph twice and climbing nearly 10,000 feet on it.

As of right now, Nickel City Cycles’ steel frames are ready to be built and sold, but they’re still perfecting their technique with the aluminum frames. Completion time for an order is slated at about six weeks, between ordering metal parts, labor and painting. Basic chromoly steel frames will start around $800 and aluminum will start somewhere around $1,500. “It can go up from there, depending on how crazy the labor is and how expensive the materials you want,” Meszler said.

To get more information or start the ordering process, call (716) 380-1389, send an email to nickelcitycycles@gmail.com, or send a message to Nickel City Cycles on Facebook. They are located at The Foundry at 298 Northampton St.

Nickel City Cycles will also be on hand until 3 p.m. at this today’s Second Saturday event, for those who want to check out their shop and learn more about the custom bike building process.

Also see Sarah Fonzi

Also see Buffalo Bottle Craft

Also see Azariah’s Innocence

Also see Rusted Grain

Also see ReUse Action

Also see The Woodshop

Also see The Foundry

Also see Net+Positive

Mon, 18 Jul 2022 04:55:00 -0500 en-US text/html https://www.buffalorising.com/2013/05/the-foundrys-creative-community-series-nickel-city-cycles/
Killexams : The Buffalo Foundry UD Yoga Series Honors Jamie Lembeck

Back in the day, when I owned Thunder Bay retail store on Elmwood Avenue, I became friends with Jamie Lembeck, who had lost his mobility and was confined to a wheelchair. It was while helping him up a short step-up at the front door that we first struck up a conversation about ADA compliancy, and why there was a short step-up at the front of the store to begin with. At a loss for the reason, other than I had talked to the landlord about the impediment, we soon discovered that we were on the same page with most issues, which set the stage for hours and hours of activist discussions

Every time Jamie paid a visit, I would greet him at the front door, to help him gain access to the shop. His visits were frequent, which means that we partook in many a talk. That’s how I came to appreciate his love for Buffalo and advocacy (he was a big proponent for Inclusive Design and Environmental Access -IDEA @ UB). Likewise, I believe that the reason that he continued to pop into the store, was to talk about my growing passion the city, which was fine by me. In my eyes, everyone should be able to enjoy the rising of Buffalo, no matter his or her abilities, or lack thereof.

Jamie passed away in 2008, but he left an incredible legacy behind, as an advocate for those who continue to deal with mobility issues. Recently, I learned that a Jamie Lembeck Yoga Series was being held at The Buffalo Foundry on Elmwood. The yoga series was designed so that everyone could participate, no matter their limitations. This particular Universal Design (UD) Yoga series was made possible thanks to the Jamie Lembeck Fund at the Community Foundation for Greater Buffalo. 

Poses are offered in multiple orientations to gravity (sitting, standing, laying down, etc.), allowing anyone to participate in its practice at their own level of comfort and ability.

Coming up on March 18, starting at 1:30PM, everyone is invited to attend the last class in the series, no matter ability or skill level. The class is sponsored by East Meets West Yoga and UD Enterprises. Certified instructors from both groups will be teaching the class, which intends to open minds and quench spirits. It’s also an inspirational way to pay tribute to the memory of Jamie, who spent so much of his life advocating for inclusion for everyone. 

“I like to think Jamie himself would have enjoyed these classes,” said UD Enterprises founder and yoga instructor Sue Dolce Mann. “It’s exciting to watch participants as they learn who they are in yoga, exploring poses and developing awareness.”

The Buffalo Foundry UD Yoga Series Honors Jamie Lembeck

March 18, 2018

Yoga class starts at 1:30pm

The Buffalo Foundry | 1738 Elmwood Avenue | Buffalo, NY

Class is $12 | To learn more, call 716-912-0775

The class will be followed by a celebration of Jamie Lembeck from 3 to 5 pm. Everyone is invited to attend and enjoy appetizers, beverages, and connect with the community.

Inset image courtesy Cherry Lawn School

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Killexams : Cloud Foundry Foundation to Host Cloud Foundry Day October 25 at KubeCon

Opens call for sessions for event in Detroit

SAN FRANCISCO, Aug. 4, 2022 /PRNewswire/ -- Cloud Foundry Foundation today announced Cloud Foundry Day will be held on Tuesday, October 25, co-located with KubeCon NA in Detroit, and opened the call for proposals.

(PRNewsfoto/Cloud Foundry Foundation)

Cloud Foundry has long been the industry-standard open source cloud application platform. Now, with Korifi and Paketo Buildpacks, the best-in-class developer experience that Cloud Foundry is known for is available on Kubernetes. Cloud Foundry Day is a full day of sessions that brings the technical community, end-users, and member companies together.

"It will be great to meet with people in our community in person after such a long hiatus," said Chris Clark, program manager of Cloud Foundry Foundation. "We've made tremendous progress in advancing Cloud Foundry with the introduction of Korifi and are looking forward to the opportunity for face-to-face interaction with our community at the event."

For this one-day event, the Cloud Foundry Foundation will join forces with the community-elected program committee to curate a program that fosters collaboration among attendees and offers an interactive platform for education. The call for sessions is now open and closes Friday, August 26.

Session topics will include Korifi, Paketo Buildpacks, new features in cf-deployment, adoption of new stemcells, and more.

For more information about sponsoring Cloud Foundry Day, download the Sponsorship Prospectus. Sponsorship deadline is Friday, September 23.

The registration fee for Cloud Foundry Day is $50 or free to attend virtually. Attendees can register for the event here.

Cloud Foundry is an open source technology backed by the largest technology companies in the world, including, HCL, Huawei, IBM, SAP, and VMware, and is being used by leaders in manufacturing, telecommunications and financial services. Only Cloud Foundry delivers the velocity needed to continuously deliver apps at the speed of business. Cloud Foundry's container-based architecture runs apps written in any language on a choice of cloud platforms — Amazon Web Services (AWS), Google Cloud Platform (GCP), IBM Cloud, Microsoft Azure, OpenStack, and more. With a robust services ecosystem and simple integration with existing technologies, Cloud Foundry is the modern standard for deploying mission critical apps at global organizations.

About Cloud Foundry Foundation

The Cloud Foundry Foundation is a non-profit open source organization formed to sustain the development, promotion and adoption of Cloud Foundry as the industry standard for delivering the best experience for developers at companies of all sizes. The Foundation projects include Cloud Foundry, Paketo Buildpacks, Korifi, Eirini, BOSH, Open Service Broker API, CredHub, and more. Cloud Foundry makes it faster and easier to build, test, deploy and scale applications, and is used by more than half the Fortune 500, representing nearly $15 trillion in combined revenue. Cloud Foundry is hosted by The Linux Foundation and is an Apache 2.0 licensed project available on Github: https://github.com/cloudfoundry. To learn more, visit: http://www.cloudfoundry.org.

Joe Eckert
Eckert Communications

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/cloud-foundry-foundation-to-host-cloud-foundry-day-october-25-at-kubecon-301600181.html

SOURCE Cloud Foundry Foundation

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Killexams : ANSYS, Inc. (ANSS) CEO Ajei Gopal on Q2 2022 Results - Earnings Call Transcript

ANSYS, Inc. (NASDAQ:ANSS) Q2 2022 Earnings Conference Call August 4, 2022 8:30 AM ET

Company Participants

Kelsey DeBriyn - VP-IR

Ajei Gopal - President and CEO

Nicole Anasenes - CFO

Conference Call Participants

Ken Wong - Oppenheimer

Joe Vruwink - Baird

Jay Vleeschhouwer - Griffin Securities

Blair Abernethy - Rosenblatt Securities

Tyler Radke - Citi

David Ridley-Lane - Bank of America

Saket Kalia - Barclays

Adam Borg - Stifel


Ladies and gentlemen, thank you for standing by, and welcome to the ANSYS Second Quarter 2022 Earnings Conference Call.

With us today are Ajei Gopal, President and Chief Executive Officer; Nicole Anasenes, Chief Financial Officer; and Kelsey DeBriyn, Vice President, Investor Relations. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please also note today's event is being recorded.

At this time, I would like to turn the conference over to Ms. DeBriyn for opening remarks. Please go ahead.

Kelsey DeBriyn

Good morning, everyone. Our earnings release, the related prepared remarks document and the link to our second quarter 2022 Form 10-Q have all been posted on the homepage of our Investor Relations website. They contain the key financial information and supporting data relative to our second quarter financial results and business update, as well as our Q3 and updated fiscal year 2022 outlook and the key underlying quantitative and qualitative assumptions.

Today's presentation contains forward-looking information. Important factors that may affect our future results are discussed in our public filings. Forward-looking statements are based upon our view of the business as of today, and ANSYS undertakes no obligation to update any such information.

During this call, we will be referring to non-GAAP financial measures unless otherwise stated. A discussion of the various items that are excluded and reconciliations of GAAP to the comparable non-GAAP financial measures are included in our earnings release materials.

I would now like to turn the call over to our President and CEO, Ajei Gopal, for his opening remarks. Ajei?

Ajei Gopal

Good morning, everyone, and thank you for joining us.

Q2 was yet another excellent quarter for ANSYS, where we once again beat across our key metrics including revenue, ACV, operating margin and earnings per share. That, coupled with our healthy pipeline, gives us further confidence in the business and has enabled us to raise our full year guidance on ACV and revenue in constant currency. Nicole will have the details in a few minutes.

Our largest contract of the quarter was a three-year, nearly $25 million agreement with an international electronics brand. This new contract includes ANSYS solutions for semiconductors, electronics, fluids, as well as our Learning Hub to make users more familiar and productive with our software. By standardizing on ANSYS solutions, this customer expects to increase its products yield while decreasing verification time for signal and power integrity.

Another multimillion-dollar agreement in Q2 enables an international automotive OEM to expand its usage to include ANSYS solutions for enterprise-level materials intelligence, electromagnetic interference and autonomous driving. This customer has already realized up to 5x improvements in aerodynamics and thermal engineering productivity, a reduction of more than 40% in material properties acquisition costs and a 10% improvement in hydrogen storage for its fuel cells.

From a geographical perspective, we saw strong revenue growth from Asia Pacific and EMEA and the Americas came in as expected. Our 36% constant currency growth in revenue in Asia Pacific was thanks to several large contracts, including one with Murata Manufacturing, a Japanese company that specializes in electronic components.

With Murata, the multiyear agreement spans our multiphysics portfolio and provides the company with an important thermal aware system simulation flow for radio frequency modules. This solution is expected to provide faster thermal sign-off by reducing the number of redesigns and by improving the ease of use of ANSYS products through a single interface.

From an industry perspective, the high-tech and semiconductor, aerospace and defense and automotive and ground transportation sectors were again our largest contributors. We also saw continued strength in the energy space, reflecting a mix of traditional and renewable use cases as well as in the industrial equipment sector, where we recorded a number of multiyear agreements from companies around the world.

For example, longtime customer [WAGO], a global leader in electrical engineering, power and automation technology signed a multiyear contract in Q2 to standardize on ANSYS simulation. This new agreement will help the Brazilian company rethink its product development process by creating and implementing digital twins of its motors. This agreement will drive WAGO's electrification and green energy initiatives.

Now I'd like to briefly mention a different kind of customer success story. I would like to congratulate NASA and Northrop Grumman on the success of the James Webb Space Telescope. We have all seen the stunning images that have come from this largest and most precise optical instrument ever developed, and we are proud here at ANSYS for the role that we played in its creation.

Naturally, it was impossible to physically test the entire mission before launch. And given the unforgiving environment of space, the mission had to run as expected the first time. Any era would have cost billions of dollars in expenses with perhaps an even greater scientific loss. That is why the team developed the rocket, the telescope and the entire mission in part using ANSYS simulation.

With ANSYS, engineers overcame a number of unique challenges, including folding a structure of the size of a tennis court into a rocket, and then unfolding it. And then understanding how perpetual solar radiation would affect its operations. Engineers use ANSYS mechanical to identify solutions to ensure the satellites' connected segment and mirror would behave the same way of monolithic mirror would. Our optical solutions were used to design and test each step in the mirror alignment process from the initial segment search to the final phasing. In addition, Mission Planer has used our digital mission engineering solutions to test variables that impact how the satellite is launched and to determine how to keep the satellite stationary 1 million miles from Earth. And the results, well they're simply out of this world.

Turning to our leadership in solutions to multiphysics simulation. Our customers now have access to ANSYS 2022 Release 2, a comprehensive set of solutions and capabilities that cross physics, engineering disciplines and industries. Included in this release are machine learning techniques in our core products, which are automatically optimizing repetitive processes, predicting workflows and enhancing user productivity. We have also delivered artificial intelligence technology that enables customers to perform massive design optimization studies to arrive at an optimal design in a fraction of the time once required.

This release also provides new high-performance computing capabilities and custom workflows for industry-specific applications, which will help more users address computationally complex problems by examining the impact of multiple physics at the same time. This added functionality is extending our multiphysics leadership, while enabling customers to make their next-generation products a reality.

I am also excited that TSMC recently certified ANSYS' Power Integrity software for its industry-leading N4P and NTE process technologies. The certification for ANSYS RedHawk SC and ANSYS Totem enables next-generation silicon designs for machine learning, connectivity and high-performance computing applications.

I'm also pleased to announce that ANSYS has joined the Intel Foundry Services Cloud Alliance. Our electronics and semiconductor suite, which includes ANSYS RedHawk SC, ANSYS HFSS and ANSYS RaptorX, are available as part of the design flow that will help enable Intel customers to enhance their productivity.

Rounding out our partner updates, Samsung Foundry has announced that it is using ANSYS' industry-leading multiphysics solutions to develop designs on the most advanced chips, nodes and process technologies. Using ANSYS, Samsung Foundry will deliver a comprehensive design flow with greater capacity, speed and integration capabilities for the company's most advanced semiconductor technology to boost high-speed connectivity while helping to reduce design error and risk.

On our last call, I discussed the role that ANSYS solutions are playing in our customers' sustainability initiatives, including for increasing fuel efficiency, in driving electrification and in decreasing the rate of emissions. We have recently created a cross-functional Center of Excellence composed of members of our development and consulting teams to advance sustainability initiatives for our customers and partners. Our subject matter experts are focused on how ANSYS simulation can help accelerate the creation of new, more efficient and lower-impact products beginning at the design and development phase.

As part of our own sustainability endeavors, ANSYS is committed to reducing our environmental footprint. To that end, we have announced that we have set a 15% reduction of Scope 1 and Scope 2 emissions by 2027. To hit that target, we are implementing projects identified in energy audits, including lighting enhancements and on-site renewable energy. We recently submitted to the Carbon Disclosure Project for the third year in a row, and continue to enhance our task force on climate-related financial disclosures.

I am also excited to announce that Fast Company has recognized several ANSYS employees with its world-changing Ideas Award for the ANSYS Minerva template. This template is built in our Minerva solution for simulation process and data management, and provides an FDA guided approval process for medical devices to speed potentially life-saving products to patients more quickly.

I'm also proud that ANSYS has been certified as the Most Loved Workplace by the Best Practice Institute. This honor was bestowed on ANSYS because of our collaboration, our corporate values and practices as well as the outcomes we drive and demonstrates why we are an employer of choice.

Next week, we'll have an opportunity to discuss ANSYS' longer-term business and financial goals as part of our investor update. I'm looking forward to further explaining the expansive role that simulation is playing in product development and sharing with you how ANSYS has become a trusted business partner with some of the top brands around the world.

To summarize, Q2 was another excellent quarter for ANSYS, resulting in us beating our guidance across all key metrics. Our business momentum, our expanded product leadership and the ongoing strength of our customer pipeline gives me even more confidence in our ability to meet our outlook for 2022.

And with that, I will turn the call over to Nicole. Nicole?

Nicole Anasenes

Thank you, Ajei. Good morning, everyone.

Let me take a few minutes to add some additional perspective on our second quarter financial performance and provide context for our outlook and assumptions for Q3 and full year 2022. The second quarter demonstrated the strength of our business as we delivered robust growth during the quarter and beat our financial guidance across all key metrics. ACV was strong and better than our guidance. Revenue, operating margin and EPS exceeded the high end of our Q2 guidance, driven by ACV outperformance and the mix of license types sold in the quarter.

Now let me discuss some of our Q2 financial highlights. Q2 ACV was $460.3 million and grew year-over-year 7% or 13% in constant currency. We saw strong performance across all geographic regions and industries. ACV from recurring sources grew 14% in constant currency year-over-year on a trailing 12-month basis. This momentum in recurring ACV growth is driven by the strong annuity created by our ongoing shift towards subscription lease licenses. ACV from recurring sources represented 81% of the total in the second quarter.

Q2 total revenue was $475.9 million and grew 5% or 12% in constant currency, which, as I mentioned, exceeded the high end of our guidance, driven by outperforming our expected ACV. Asia Pacific and EMEA drove strong Q2 revenue growth. We had robust top line performance in Q2, with ACV and revenue both growing double digit in constant currency at 13% and 12%, respectively.

In both Q2 and the first half, we executed against our business model of double-digit growth, including tuck-in M&A. We closed the quarter with a total balance of GAAP deferred revenue and backlog of almost $1.2 billion, which grew 27% year-over-year.

During the quarter, we continued to deliver a business model with strong operating leverage. This yielded a solid second quarter gross margin of 91% and an operating margin of 40.7%, which was better than our guidance. Operating margin was positively impacted by outperforming on revenue as well as the timing of investments that have moved into the second half of the year.

The result was second quarter EPS of $1.77, which was also better than our guidance. Similar to operating margin, EPS benefited from strong revenue results and the timing of investments. Our effective tax rate in the second quarter was 18%, the tax rate we expect for the remainder of 2022. Our cash flow from operations in the second quarter totaled $118.9 million, which benefited from continued strong collections. We ended the quarter with $517.6 million of cash and short-term investments on the balance sheet.

Now let me turn to the course of guidance. The underlying momentum in our business and demand for our best-in-class portfolio continues to be strong. We are operationally increasing our outlook on ACV revenue, EPS and operating cash flow for the full year. We delivered a robust Q2, and our strong 2022 forecast reflects our continued breadth and depth of customer demand.

However, offsetting our first half performance and strong full year outlook is continued and significant U.S. dollar strengthening, which impacts the exchange rates embedded in our guidance.

Let me start with our full year 2022 guidance. We are raising the midpoint of our ACV guidance by 1.6 points of constant currency growth compared to our May guidance. We expect our full year ACV outlook to be in the range of $1.98 billion to $2.020 billion. This represents growth of 5.8% to 8%, or 11.3% to 13.5% in constant currency and a midpoint of $2 billion, which puts us on track to achieve the 2019 Investor Day target.

For additional context, the $2 billion midpoint of our ACV guidance when translated at 2019 foreign exchange rates would equal approximately $2.07 billion and would exceed our 2019 Investor Day ACV target.

Our full year ACV raise is driven by the strong performance we saw in Q2 and improved forecast and momentum we see in the business, especially for Q3. That underlying improvement drove a full year ACV operational increase of $29 million relative to our May guidance. This operational momentum was offset by $19 million of foreign exchange headwind.

Turning to revenue. We expect revenue to be in the range of $2.05 billion to $2.055 billion, which is growth of 3.8% to 6.4% or 9.2% to 11.8% in constant currency. We are raising the midpoint of our revenue guidance by one point of constant currency growth compared to our May guidance. This raise is driven by the strong revenue performance we saw in Q2 and improved forecast we see for the rest of the year. That underlying improvement drove a full year revenue operational increase of $18 million relative to our May guidance. This operational momentum was offset by $23 million of foreign exchange headwind.

As a result, we expect our full year EPS to be in the range of $7.50 to $7.88. Relative to our May guidance, our full year EPS increased $0.07 from better operational performance, which was offset by $0.12 of foreign exchange headwind. As a reminder, some of our strong Q2 EPS performance was driven by the timing of investments that moved from Q2 to the second half of the year.

We continue to expect our full year operating margin to be in the range of 41% to 42%. Given the rapidly changing interest rate environment, we thought it would be helpful to provide full year interest expense for your modeling purposes. As a reminder, our term loan structure has floating interest rates and rising interest rates will continue to impact interest expense. Our current outlook projects our full year 2022 interest expense to be $22 million, up almost $10 million from last year.

Now let me turn to our full year operating cash flow guidance. Our 2022 outlook is a range of $570 million to $610 million. Relative to our May guidance, our full year operating cash flow increased $6 million from better operational performance, which was offset by $6 million of foreign exchange headwind. Also note on a year-over-year basis operating cash flow continues to face nonoperational headwinds, including the timing impact of R&E capitalization regulations and higher interest expense, given rising interest rates.

Since January 2022, we have seen significant U.S. dollar strengthening relative to the euro and Japanese yen. The trajectory of the movement of these currencies has been outsized relative to typical currency fluctuation impacts. When compared to the 2021 currency rates, our 2022 guidance is negatively impacted on ACV by approximately $100 million and an operating cash flow by approximately $35 million. Notwithstanding the negative impact of exchange rates, our underlying business is operationally strong and has considerable momentum.

Now let me turn to guidance for Q3. For the third quarter, we expect ACV in the range of $392 million to $412 million and revenue in the range of $455 million to $475 million. Our outlook implies double-digit ACV constant currency growth for Q3 and the full year 2022, in line with our business model of double-digit growth, including tuck-in M&A.

We expect Q3 operating margin in the range of 37.8% to 39.4% and EPS in the range of $1.56 to $1.70. Further details around specific currency rates, interest expense and other assumptions that have been factored into our outlook for 2022 and Q3 are contained in the prepared remarks document. We have a strong forecast, diversified business model and high level of recurring ACV, all of which contribute to our confidence in our outlook and the underlying momentum of our business. This is reflected in the increased outlook for constant currency ACV and revenue growth and the operational improvements in our cash flow outlook.

To the entire ANSYS team, thank you for your outstanding execution in the quarter, which drove our robust Q2 financial performance and continued momentum going into the second half of the year. We once again delivered a strong quarter, which coupled with our recurring business model and growing sales forecast, demonstrated the strength of the ANSYS business. We are well positioned to deliver on our 2022 outlook as well as our long-term strategy. I am more confident than ever in our future.

Operator, we will now open the phone line to take questions.

Question-and-Answer Session


Thank you. We will now begin the question-and-answer session. [Operator Instructions] Our first question comes from Ken Wong with Oppenheimer. Please go ahead.

Ken Wong

Great. Thank you for taking my questions. I guess what I wanted to just kind of check into is just the commentary that you guys both provided very strong, very robust. As far as macro goes, just wondering what type of macro environment are you predicting for the second half as we think about this -- the elevated guide?

Nicole Anasenes

Sure. Thanks for your question, Ken. So yes, as we pointed out, as we pointed out in our guidance, we have -- we are seeing -- we're really seeing underlying strong momentum in the business. The beat to the Q2 numbers was really kind of evidence of continuing broad-based building pipeline. And as we -- now that we're in the second half of the year, we have a much clearer visibility to kind of what that second half pipeline looks like and kind of how it will land over the next couple of quarters. And while we're certainly very sensitized to the macro environment overall and what's occurring with the rest of the tech industry, our business is highly exposed to R&D. And as you recall, R&D is usually the last thing to go off and the first thing to come back on when they're tightening.

And so we're just not seeing the same level of constraint that may be some other parts of the tech sector are seeing. And the outlook of our guidance really reflects the broad-based demand across industries, geographies and customer segments that we saw in Q2 and that we kind of see coming into the pipeline in the back half of the year.

Ajei Gopal

Just to amplify the point that Nicole was making, I mean, many of our customers they're certainly aware of these broader geopolitical concerns and pressures that we all see, but they continue to face competitive pressures. And they've got multiyear product road maps that they've been driving. And frankly, that's where simulation comes in. Simulation helps them to deal with some of the competitive pressures that they're dealing with. It allows them to innovate more rapidly. And at the same time, it allows them to save money and time because we can reduce reliance on physical testing, we can reduce warranty costs and so forth.

And so the value proposition for simulation, which is it helps our customers both drive top line growth as well as achieve bottom line savings, that value proposition is really a compelling value proposition, and that's, I think, what we're seeing in the market.

Ken Wong

Got it. And if I could maybe just a quick follow-up for you, Ajei. Look, you highlighted areas of strength from a verticals perspective, auto, aero. Tech remain really strong. Are there any end markets that you feel maybe are still catching up to some of their peers in terms of maybe seeing heavier COVID or macro pressures that could potentially kind of open up as macro does improve?

Ajei Gopal

No. I think -- as I said in the comments, our performance was pretty consistent across the verticals as we expected to see. Certainly, the bigger verticals are high-tech and semiconductor, aerospace and defense, automotive and ground transportation, but we saw strength in other areas as well. So nothing specifically to note in terms of explicit areas of consideration or concern.


Our next question comes from Joe Vruwink with Baird. Please go ahead.

Joe Vruwink

Great. Hi, everyone. I guess a question on seasonality in the business. I think in the past, you've talked about maybe ANSYS increasingly having a skew of -- into 4Q, just given ACV generation with bigger enterprise customers signing multiyear agreements. Just given where the guidance stands currently, it looks like a really strong 3Q and then proportionately less coming from 4Q relative to a year ago. Is that in any way reflecting SMB versus enterprise activity? Or is it maybe just leaving you some wiggle room or cushion to get 3Q under your belt and then have more visibility on 4Q?

Nicole Anasenes

Joe, thanks for the question. So how I would characterize the second half guidance is just much clearer visibility to where deals land. As you know, we've transitioned to a multiyear lease subscription model over the past couple of years. And so as you move into that multiyear lease model, your kind of timing of when the renewal base happens both within the quarter and across the quarters and within the years, can start to shift over time. And so I would characterize the second half as the kind of clearest visibility we have from where we're sitting today, which is quite clear once you get into the second half because your sales cycles tend to be three to six months long. So you have a little bit more clarity in terms of what the timing of those things may line up to.

So I would characterize it -- I think it's maybe a little bit slightly -- it's slightly stronger from a growth rate standpoint. I think the overall SKU is pretty similar to prior quarters. It might be a little bit heavier weighted into Q3 than maybe last year. But I would characterize it as kind of a reflection of the timing of the yield of the pipeline we see today with a slightly stronger Q4 growth rate as a result of the year-to-year compare.

Ajei Gopal

And operationally, when you think about it, I mean the sales team manages relationships with the customers. And obviously, as Nicole said, there's a lot of timing around that in terms of when projects are kicked off in activity. So that drives the timing of some of the larger deals as well.

Joe Vruwink


nothing specific to your SMB customer base, if there's been maybe one takeaway this earnings season, there's maybe initial indications of moderation as opposed to enterprise being quite strong. But nothing in your kind of forecast that would call out one segment versus the other?

Nicole Anasenes

Yes. No. I mean what -- the kind of -- the SMB customer base is reflected in kind of our geography and momentum. Momentum accounts primarily continue to be consistent in what they deliver. They're consistent with what we expected coming into the year. The second half pipeline is consistent with what we would have expected to see. And when you look again at the mix of Q3 versus Q4 ACV, I mean they're pretty close in terms of percentages. So in terms of the percentage of ACV that occurred last year versus this year, the growth rates again might be a little bit skewed.

Joe Vruwink

Thank you.


Our next question comes from Jay Vleeschhouwer with Griffin Securities. Please go ahead.

Jay Vleeschhouwer

Thank you. Good morning. Ajei, in your prepared remarks, you gave some examples of multi-solution sales with some of the larger transactions. And of course, that's been going on for some time now. When you look at your pipeline for the remainder of the year or for the next 12 months, could you comment on that multi-solutions component of the pipeline? And within that, I'd be especially interested in anything you're seeing in terms of incremental demand or contribution from any role of Minerva, the materials business, which you highlighted. And any of the other more accurate acquisitions such as Phoenix and LST and [Miracle], then I have a follow-up.

Ajei Gopal

So Jay, as you know, I mean, we've been on this journey towards multiphysics sales quite for some time now, and we continue to execute along that direction as you pointed out. And certainly, our pipeline, especially as you consider the larger enterprise customers, our pipeline very much includes solutions that comprise of products from multiple parts of our portfolio.

And so the multiphysics message is strong. It addresses what customers are looking for. We have been a pioneer in that space, and we continue to see benefit from that, and we certainly see traction from customers as we continue to support them.

So absolutely, as we look ahead, we have multiphysics activity and multiple product sales into our customer base, certainly at the larger end, but it's also increasingly -- as you start to look down the pyramid, we see multiphysics capabilities penetrating into the customer base. So I think that's very important.

You mentioned a couple of product lines. Obviously, we don't provide quantitative breakouts by products, but I can provide you some qualitative color. You asked about Minerva. I gave you, I think in the script, I mentioned some of the workflows that we've put in place in the health care area. Minerva continues to be an important aspect managing simulation data given the amount of simulation information that's being created by our customers, managing that simulation data effectively is important, and that's -- Minerva plays a role in that.

Materials, I've also mentioned -- and I think I mentioned in a couple of places, certainly in the past couple of calls, materials is also important, and we certainly recognize customers as they start to go through design optimization opportunities the choice of materials is really important.

Materials plays another interesting role in sustainability as well because when you consider the long-term compliance with regulations about materials that could be used, understanding the materials within our product design, something which could potentially take a number of years from design into real implementation, really understanding what's in the product that's being built to make sure that you're compliant with the most accurate regulations, that's also important. And so that's another area where materials comes in.

Model basis and engineering, we continue to make progress in that area. It's really across the board where we have been able to have -- build on the strength of our ANSYS, traditional ANSYS products. We've supplemented that with acquisitions as and when appropriate, as it makes sense given our strategy. And we've continued to build the portfolio out to something that I'm very excited about and I know our customers are very excited about.

Jay Vleeschhouwer

Nicole, you made the interesting point that at 2019 rates your 2022 ACV guidance would be $2.07 billion, which would imply a three-year CAGR for ACV at constant currency of about 12%. Maybe we'll talk about this next week on the investor call. But is that, do you think, a sustainable ACV CAGR for the next number of years? Or if it were to accelerate, what would be the catalyst for that?

Nicole Anasenes

Thanks, Jay. Yes. So as you pointed out, we have our investor update scheduled for next week. We're really looking forward to sharing that long-term guidance with you next week. But what I -- so I can't comment about the future. But certainly, it's not too long before we can comment on the future. So stay tuned.

But yes, I mean what we have stated and what we continue to be confident in is a business model of double-digit growth, including tuck-in M&A. I think if you look at the course of this year, we have consistently delivered it in the second quarter in the half -- in our outlook for the second half of the year. We're squarely on that model, and we're really confident given the strength of demand from our customers, the success of our business model transition and our sales model transition, and just the portfolio that we have that is broader and deeper than anything else available in the market. So yes, we're looking forward to talking in more detail about those things next week.

Jay Vleeschhouwer

See u then. Thank you very much.


Our next question comes from Blair Abernethy with Rosenblatt Securities. Please go ahead.

Blair Abernethy

Thank you. And nice quarter, guys. Just Ajei, just following on Jay's questioning. In terms of standardization, on the ANSYS platform, you mentioned in the WG win that they've decided to standardize on ANSYS. And this is something that's been around for a few years. Is this a trend that you're starting to see pick up steam at all? And are you positioning or are you trying to help customers get more towards standardizing their simulation needs on your product set?

Ajei Gopal

Well, I think it's a reflection of the fact that we have a broad platform and capability that allows us to be able to address the needs of our customers. And it's really the breadth and the depth of the portfolio that gives us the credibility to have those conversations with customers. And frankly, we believe we are differentiated in the marketplace because of the breadth and the depth of our portfolio.

So if you talk to customers, they'll tell you they value the accuracy of what we do, they'll tell you they value the completeness of our solutions and our offerings. They'll tell you how we continue to innovate and invest in our portfolio. And they know that when they are making an investment in ANSYS, they're not just buying the product that we have today, they know that we're continuing to make investments, and we will continue to enhance the portfolio, and we'll make things better. And we'll deal with the challenges that they're likely to face in the future as well.

So I think that gives us a tailwind when we go into some of these broader conversations. It is a difficult market to do wholesale replacements for one code base to another. If a customer is using a particular simulation for a number of years, they may continue to use that same simulation code for some period of time. So it does take some planning to do whole-scale replacements. But we're seeing more of that, and we're seeing competitive wins where we're replacing customers within customers, where we are replacing competitors who have been present for some number of years, and the customers made the decision to come to ANSYS, which we feel is a better choice. And obviously, the customer has also felt it's a better choice.

So we're seeing that take place as well. So the dynamic is -- is, I think, driven by the strength of the product portfolio and the investments that we're making.

Blair Abernethy

Great. Thank you.


Our next question comes from Tyler Radke with Citi. Please go ahead.

Tyler Radke

Good morning. Thank you for taking the question. So you clearly delivered really strong double-digit ACV growth this quarter on a pretty difficult comp. You talked about not really seeing any demand impacts from your customers and the recurring piece of ACV is growing double digits as well. I guess I'm curious if you feel like the business has kind of hit an inflection point where that double-digit growth is sustainable? And I'm just curious if you think that's something related to the go-to market or the product strategy. If you could just comment on -- if you think that the business has kind of hit an inflection here.

Nicole Anasenes

Yes. So why don't I start. And then, Ajei, why don't you add any context to that? So thanks, Tyler, for your question. Yes, I mean I think what I would say is that the consistency of the performance throughout the year in the first half and the outlook for the second half is again on our model of double-digit growth, including tuck-in M&A. And we've been able to pretty consistently deliver that.

I mean if you go back over the past couple of years and you look at heading into the end of 2022, our guide of $2 billion of ACV at the midpoint is consistent with guidance we gave in 2019 before there was a global pandemic, before there were significant shifts in the trade environment, and the underlying macro environment that we have today, which has had a significant impact on foreign exchange rates.

And so I think that if you look back at the investments that we've made in the business to transition to a highly recurring subscription lease model, transition our go-to-market to build deeper customer relationships and build alongside their long-term road maps. And then the organic and the inorganic investments in our portfolio have all been really important factors in setting us up to be able to consistently deliver that model.

And so we're really pleased with the performance of the business this year and the outlook that we're able to provide for the rest of the year, and look forward to updating you guys a little bit more on what's to come. I don't know, Ajei, if there's anything you'd like to add to that?

Ajei Gopal

Yes. I think you'll hear some more next week at our investor update. But certainly, as Nicole was saying, this is -- we've been making investments over the last several years. And as I mentioned just earlier in this call, the strength of the product portfolio, I think, is really added to our ability to support our customers, and that obviously helps tremendously in the market. That's number one. And as you pointed out, the go-to-market has also been really important. We've gone through a process of transforming over the last several years of go to market. And we have great customer relationships. We continue to maintain those great customer relationships we have momentum. And our customers know that we support them and they know they can rely on us.

And so when you start to put all of that together, it creates an environment where the value of simulation shines through, and our customers recognize that they can take advantage of ANSYS in order to achieve their own business objectives.

Tyler Radke

Thank you. And as my follow-up, I just wanted to clarify the performance. It looked like EMEA and APAC, in particular, were really strong, growing 30% or better. U.S. was actually down year-over-year. Could you just talk about what drove that large variance in geographic performance? And just anything to call out how we're thinking about international growth assumptions for the full year versus the U.S. Thank you.

Nicole Anasenes

Sure. So let me start with the broader point on kind of just some statement about quarterly revenue dynamics in general, right? So ASC 606 introduces a lot of volatility. And when you have mix differences in license compare on a year-over-year basis within a quarter, sometimes you get a lot of volatility. You get much more of it down at the geographic level. And so there's often not always consistency between the overall ACV growth in a region or in a market versus revenue growth. And that's why we kind of focused on longer-term revenue metrics and longer-term ACV metrics.

But to answer your question specifically, let me start with Asia Pacific and EMEA. I mean, both had -- well, let me just start with -- as we stated in our prepared remarks, all markets -- we saw growth in all markets from an ACV standpoint, which is kind of that key metric of momentum. And from a revenue standpoint, as you point out, APAC and EMEA really did have great performance. I'd say there's a couple of dynamics going on there.

In EMEA, we saw some pretty broad-based performance across all of our key industries in the high tech. We had a multiyear 8-figure sale to a European telecommunications company in aerospace and defense. We had several 7-figure contracts with customers and even in industrial equipment. Also saw strong Q2 where we signed an 8-figure deal with the German industrial machine manufacturer. So we saw strength in Europe across multiple industries.

And in APAC, I mean APAC, again, is another quarter of consistently delivering growth in Asia Pacific. And it was -- the growth was particularly strong in our geography and momentum accounts. And in terms of large deals, we also saw it across multiple industries, high-tech auto. And it was really broad-based. And so to put this one into context, the management team in APAC really has been investing in deeper customer relationships and stuck with those customers through the pandemic.

So that transformation of the go-to-market model and kind of aligning to the strategic road maps of your customers, and really being there for them in their time of need is really paying off in the consistent growth that we're seeing from the Asia Pacific region.

Now to your question on Americas, again, as I will emphasize all regions grew, all regions grew ABB. Americas over the last 12 months has really been leading the company and delivering value for our customers. And we're expecting the region to be a strong performer in 2022 and beyond. In the second quarter, revenue did decline, but it was really expected. There was -- the growth year-to-year was impacted by a compare of Q2 '21, which had several large high-tech and automotive perpetual and multiyear lease sales. So again, the revenue dynamic in Americas was really a function of the 606 accounting and the comparability. Overall, we've just seen very consistent growth and performance across all geos.

Tyler Radke

Thanks for the detail. Look forward to the Analyst Day.


Our next question comes from Andrew Obin with Bank of America. Please go ahead.

David Ridley-Lane

Good morning. This is David Ridley-Lane on for Andrew. We have the opportunity to attend a demo of the ANSYS Twin Builder a few months back. Just curious, how is that product growing relative to your internal plans? And what is the kind of feedback you're getting from the market?

Ajei Gopal

So obviously, we don't provide financial breakdowns on a per product basis. But let me provide you some perspective on where we are with Twin Builder and the broader concept of digital twins. So the whole idea here is that with the digital twin, you're trying to create a digital equivalent of a product. And this is something that can transition from the design phase where typically our customers build 3D models, into the operation phase, where the digital twin, which is a simplified model of that full-fledged 3D model that's used for design, where that digital twin can be used for things like predictive maintenance, can be used for determining equipment uptime, replacement schedules and things of that nature.

So we've seen certainly a lot of customer interest in that space. It's still early days. What we're demonstrating to customers is that physics-based digital twins, which is essentially what we do, coupled with some understanding of statistical techniques, when you put that together, which we encapsulate into our offerings, that provides them with tremendous accuracy with respect to some of the predictive maintenance capabilities that I just mentioned.

So we continue to see interest in -- with customers. We continue to see momentum in that space. It's still relatively early days. It's still a relatively small market. Many customers are excited about the fact that we can do digital twins. They will lead with that conversation. And then they'll transition to other parts of the portfolio as well. So it's a great piece of the portfolio, and we're excited about the long-term future for this product area.

David Ridley-Lane

Sounds good. And just maybe a quick one for Nicole. On the accurate tuck-in acquisitions, did they have much benefit to ACV or revenue in 2022?

Nicole Anasenes

Yes. The tuck-in acquisitions, I think we may have talked about that in the last call. They're very small tuck-ins. The on-scale acquisitions, a technology play, it was -- we're really excited about it. It's a really complementary aspect to organic development in the space of native cloud. And so -- but that's a pretty immaterial contribution. And the Motor-CAD acquisition was actually a product that we OEM-ed. And so the net increment on the top line to that was immaterial as well.

Just as a reminder, Zemax, we did provide a guidance on Zemax, which is about $20 million of inorganic impact this year. And so that would be -- we see it consistent to how we've seen in prior quarters in terms of what the inorganic impact of Zemax would be. So does that answer the question.

David Ridley-Lane

Thank you.


Our next question comes from Saket Kalia with Barclays. Please go ahead.

Saket Kalia

Okay, great. Hi, good morning, guys. Thanks for fitting me in here. Ajei, maybe for you. I mean, since we're talking about M&A, I was wondering if you can just talk about the forward opportunity for tuck-in M&A. How do you feel about just the number of opportunities out there. And of course, as valuations hopefully adjust and with ANSYS' strong balance sheet, can you just talk about that part of the strategy and kind of how that plays into the total growth algorithm?

Ajei Gopal

Yes. So as I -- as we've always said, we think about -- when we think about the future of our industry and where we need to go, we think about the combination of organic development, partnerships and acquisitions. So it's the -- it's always build, partner, buy. And that's -- those are the considerations that we bring into the equation as we think about the future of our portfolio. And in that context, we are always looking out to see if there are M&A opportunities that are consistent with our strategy. Where we believe that we're disciplined investors, we're careful when we go into an M&A situation. We look carefully to make sure that there is the strategic value that we need. And that's how we think about the overall opportunity.

And with valuations, valuations obviously have come down, and maybe that is a buying opportunity. But with quality, quality always is expensive. And so we want to make sure that we have the right technology and capability of products that we're in a position -- or companies that we're in a position to buy.

Look, we're the -- you should know that we see most of the deals that are in our space, I mean -- because obviously, they get presented to us. And we are always -- when we look to that analysis, we look to make sure that we have great technology that we're bringing in. And if the technology is too far from the core, if we don't see a connection to our existing portfolio or go-to market, we pass.

We've got a very rigorous process for diligence. We evaluate the core technology. We evaluate the stickiness of customer relationships. And when the technology isn't strong enough or customer relationships are superficial or we don't see strategic connections, we pass. So we're disciplined about this. But certainly, we will continue to evaluate M&A as and when it's appropriate in order to advance our strategy.

Saket Kalia

Got it, got it. That makes a lot of sense. Nicole, maybe for my follow-up for you. Just to the earlier points on the multiyear license model, which we've seen, obviously, a very successful transition over many years. Now that we've had sort of several years of this model with good data on renewals, I'm wondering if you've looked at sort of a net revenue retention or net retention sort of rate on those renewals? And if you can talk to that, even qualitatively.

Nicole Anasenes

Yes. So I can provide you -- why don't I kind of provide you two lenses to that. So we -- why don't we start with just kind of the overall qualitative description of what drives the kind of overall high retention rates we have. And again, when we talk about retention rates around 90%, we're talking about the renewal of the original content, not kind of the net renewal, which includes new growth on top of that, right? So it would just be the renewal of that. .

And so maybe just start a little bit with kind of the kind of strategic relationship strategy around multiyear leases. So as we engage with our customers, we engage with them on what is the outlook for the product road map going forward, whether it's the mix of physics that may be required and solutions to be able to kind of work against that road map. And we signed those multiyear lease agreements with them, kind of aligned to that overall road map.

Now as you know, the world changes. And it doesn't -- just because it may be a two or three-year renewal ahead doesn't mean that customers' needs don't change, they don't grow. They buy companies. The competitive dynamics change. And so we are in a constantly ongoing relationship with those clients on a year-after-year basis in kind of preparing for that renewal that comes up.

And so when we think about it from kind of that renewal of the renewal base coming up at the end of the three-year license, we have already had multiple years of conversations with those customers about the road map. And we have a lot of clarity around not only kind of what is the content that they'll continue to renew, but what are the new growth areas on top of that, that will extend them into the next chapter of their multiyear agreement.

And so the relationships we have -- and this was part of the strategic selling transition model that we made over time. It was initially with a small subset of enterprise customers that, over the past five years, the go-to-market teams have really translated those best practices through the broader segmentations of our customer base and even into supporting the channel and having those conversations as well. And so that is the mode of strategic selling that really it does support those -- not only those very high retention rates that we talk about went up, but also the ability to continue to grow on top of that.

Saket Kalia

Got it. Very helpful, thanks.

Kelsey DeBriyn

Operator, we have time for one more question.


Thank you. Our next question comes from Adam Borg with Stifel. Please go ahead.

Adam Borg

Great. Thanks so much for taking the question and fitting me in. Maybe just for Ajei, on the cloud. I haven't heard too much about that today, and I'm sure we'll talk a lot about it more next week. But just any updates on your various cloud ambition, including the accurate on-scale acquisition that was just referenced. Thanks so much.

Ajei Gopal

So yes, I think you'll hear more about this next week. But very quickly -- in a previous call, I talked about how the engineering simulation software, a market that we participated in, is quite different from traditional enterprise applications. And we talked about the importance of high-performance computing to our users.

And obviously, remember that a single engineer could run an ANSYS simulation that runs across hundreds of compute nodes for multiple hours. And so what we have got as part of our cloud strategy is a very -- I think, a very thoughtful approach that addresses the needs of our customers. And it's to really enable our customers, both existing and new, to be able to benefit from the insights of physics-based simulation and optimization, as well as to be able to scale out -- or to support the scale-out capabilities in the cloud.

We've got two distinct classes of offerings, Cloud Marketplace and Cloud Native. We've talked at length, I think, in past calls, about some of the Cloud Marketplace offerings in -- I think, in the previous quarter and the one before that. So I'll skip that in the interest of time. But with respect to Cloud Native, that's when we're targeting new users and new use cases. And we're creating a cloud-based platform for the development and the deployment of new workflows. And our accurate acquisition, as you said, of OnScale, which is the leader in cloud-based simulation, that's accelerating our ability to be able to do that. And they bring -- they brought a host of critical capabilities that will allow us to develop a new set of services. And frankly, the integration of what OnScale is doing in ANSYS is a powerful combination.

So one example is OnScale's cloud-native user interface connected to our industry-leading simulation solvers in the back end. So we're excited about cloud. It's -- we have, I think, a very thoughtful and robust strategy. It's still early days. We do offer customers a variety of capabilities as they need it, when they need it. We believe that our capabilities are flexible and scalable. And frankly, we believe that we will be able to unlock a level of innovation across every industry around the world.

Kelsey DeBriyn

Thank you. And that's all the time we have today. I will turn it over to Ajei for his closing remarks.

Ajei Gopal

I am more excited than ever by our excellent execution in the first half of the year, our expanding product leadership and our robust pipeline, and I remain confident in our ability to achieve our ambitious goals. I want to thank all my colleagues at ANSYS for their commitment, their focus and their many successes.

And with that, I want to thank you for attending today's call, and I look forward to giving you more details on our long-term business and financial goals at next week's investor update, thank you.


The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.

Thu, 04 Aug 2022 04:29:00 -0500 en text/html https://seekingalpha.com/article/4529736-ansys-inc-anss-ceo-ajei-gopal-on-q2-2022-results-earnings-call-transcript
Killexams : Nippon Express (Taiwan) Acquires Bonded Certification, Establishes New Air-conditioned Space and Expands Functions at Tainan Warehouse Nippon Express (Taiwan) Acquires Bonded Certification, Establishes New Air-conditioned Space and Expands Functions at Tainan Warehouse

PR Newswire

TOKYO, July 15, 2022

- Efforts All Aimed at Meeting Expanding Semiconductor-related Demand - 

TOKYO, July 15, 2022 /PRNewswire/ -- Nippon Express (Taiwan) Co., Ltd. (hereinafter "NX Taiwan"), a group company of Nippon Express Holdings, Inc., became the first Japanese logistics company this past February to obtain bonded certification for its own operational warehouse in Tainan City in southern Taiwan, and on July 11 it established a new air-conditioned space to meet growing demand for semiconductors.

Logo: https://kyodonewsprwire.jp/img/202207123722-O1-525Ik8T9

Exterior of Tainan Warehouse:

Inside of Tainan Warehouse:

Demand for semiconductors has expanded due to the rapid adoption of remote work driven by the COVID-19 pandemic, and a serious shortage of in-vehicle semiconductors in Taiwan, a major semiconductor supplier for the entire world, has prompted customers in semiconductor-related industries as well as other companies to expand their factories.

The Tainan Warehouse is located about 7 km from the Tainan Science Park (part of the Southern Taiwan Science Park), home to numerous semiconductor-related companies, including the world's leading foundry companies, and offers temperature-/humidity-controlled storage and management of semiconductor production materials, manufacturing equipment maintenance parts and other products requiring high-quality storage. The ILC* bonded license acquired in February this year also allows this warehouse to be used for non-resident inventory storage and import/export.

The NX Group will continue stepping up its efforts on behalf of the semiconductor industry, positioned as a priority industry in the Group's Business Plan, and expanding its logistics functions globally to help customers develop their business activities.

*ILC: International Logistics Center, a comprehensive logistics center with a bonded warehouse function approved by Taiwan Customs.

Profile of facility

Name: Tainan Warehouse, Nippon Express (Taiwan) Co., Ltd.

Location: No. 85, Yongke 1st Road, Yongkang District, Tainan City

Structure: 3-story building

Total floor area: 11,800 m2, of which 3,900 m2 is currently air-conditioned. (This section is to be expanded to 9,285 m2 by the end of 2022.)

Principal equipment/functions: Raised-floor platform, 24/7 security, surveillance cameras, bonded storage, air conditioning

Business description: Warehouse receiving, inspection, sorting, palletizing, storage and delivery of goods

Nippon Express website: https://www.nipponexpress.com/

NX Group's official LinkedIn account:

Cision View original content:https://www.prnewswire.com/news-releases/nippon-express-taiwan-acquires-bonded-certification-establishes-new-air-conditioned-space-and-expands-functions-at-tainan-warehouse-301587266.html

SOURCE Nippon Express Holdings, Inc.

Thu, 14 Jul 2022 18:23:00 -0500 en text/html https://www.morningstar.com/news/pr-newswire/20220715hk18201/nippon-express-taiwan-acquires-bonded-certification-establishes-new-air-conditioned-space-and-expands-functions-at-tainan-warehouse
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