About Hillenbrand

Hillenbrand, Inc. (Hillenbrand) operates as a global industrial company that provides highly-engineered processing equipment and solutions to customers around the world. The company's portfolio consists of leading industrial brands that serve large, attractive end markets, including durable plastics, food, and recycling. Guided by its Purpose, Shape What Matters For Tomorrow, the company pursues excellence, collaboration, and innovation to shape solutions that best serve its people, its customers, and its communities. Customers choose Hillenbrand due to the company's reputation for designing, manufacturing, and servicing highly-engineered, mission-critical equipment and solutions that meet their unique and complex processing requirements. Segments The company operates through two segments: Advanced Process Solutions and Molding Technology Solutions. Advanced Process Solutions segment Advanced Process Solutions is a leading global provider of highly-engineered process and material handling equipment, systems, and aftermarket parts and services for a variety of industries, including durable plastics, food, and recycling. Key technologies within the Advanced Process Solutions portfolio include compounding, extrusion, material handling, conveying, mixing, ingredient automation, portion process, and screening and separating equipment. Advanced Process Solutions has attractive fundamentals, including strong product and technology positions with substantial brand value and recognition; industry-leading applications and engineering expertise; comprehensive solutions capabilities through a differentiated suite of complementary processing technologies; a large installed base that supports an aftermarket parts and service business with historically stable revenue and attractive margins; a customer base that is highly diversified, including a strong history of long-term relationships with blue-chip end user customers; and a strong global footprint for sales, manufacturing, engineering, and service, including established operations in high growth countries, such as India and China. Advanced Process Solutions designs, engineers, manufactures, markets, and services differentiated process and material handling equipment and systems for a wide variety of industries, including plastics, food and pharmaceuticals, chemicals, fertilizers, minerals, energy, recycling, and other general industrials. Advanced Process Solutions uses its strong applications and process engineering expertise to solve problems for customers. Its highly engineered capital equipment and systems offerings require aftermarket service and/or parts replacement, providing an opportunity for ongoing revenue at attractive margins. Products and Services Advanced Process Solutions' product portfolio has grown through a series of acquisitions and includes products and services for compounding, extrusion, material handling, conveying, mixing, ingredient automation, portion process, and screening and separating equipment. Advanced Process Solutions' product lines are supported by aftermarket parts and services. Products are offered under brand names that are recognized as leaders in their respective categories. Compounding, Extrusion, and Material Handling Equipment and Equipment System Design Twin screw compounding and extrusion machines range from small laboratory compounding machines to high performance, high throughput extrusion systems. Small and mid-sized compounders are used by customers in engineered plastics, masterbatch, PVC, recycling, biodegradable products, and other applications for the plastics, chemical, food, and pharmaceutical industries. With the acquisition of FPM (Schenck Process Food and Performance Materials) in 2023, the company offers broader application solutions to support these industries. Extrusion systems are sold to customers in multiple industries. These extrusion products are sold under the Coperion brand. Material handling equipment includes pneumatic and hydraulic conveying equipment for difficult-to-move materials; high-precision feeders that can operate at both very high and very low fill rates; blenders for pellets and powders; and rotary valves, diverter valves, and slide-gate valves used for feeding, dosing, discharge, and distribution during pneumatic conveying. The proprietary equipment is highly engineered and designed to solve the needs of customers for customized solutions. Material handling equipment is sold to a variety of industries, including plastics, food and pharmaceuticals, chemicals, and minerals. With the acquisition of FPM in 2023, the company offers expanded material handling capabilities in each of these industries. These products are sold under the Coperion, Coperion K-Tron, and Herbold brands. Compounding, extrusion, and material handling equipment can be sold as a complete system, where strong application and process engineering expertise is used to design and create a broad system solution for customers. Systems can range from a single manufacturing line to large scale manufacturing lines and turnkey systems. Larger system sales are generally fulfilled over 18 to 24 months. A considerable portion of revenue for large system sales typically comes from third-party-sourced products that carry only a small up-charge. As a result, margin percentages tend to be lower on these large system sales when compared to the rest of the reportable operating segment. With the acquisition of Herbold (Herbold Meckesheim GmbH) in fiscal 2022, the company offers complete, innovative recycling solutions leveraging both Coperion and Herbold complementary technologies. From mechanical processing - shredding, washing, separating, drying, and agglomerating of plastics - to bulk material handling, feeding and extrusion, as well as compounding and pelletizing, the company's product offering encompasses the complete process chain. With the acquisition of FPM in 2023, the company offers end-to-end systems and full production line capabilities, as well as broader expertise in food and pet food applications. These products are sold under the Coperion and Herbold brands. Mixing Technology, Ingredient Automation, and Portion Process Mixing machines for both solids and liquids range from small laboratory mixers to large industrial equipment. These products are primarily sold under the VMI, Shaffer, Peerless, and Diosna brands. Ingredient automation provides complete systems for bulk ingredient storage, micro automation, liquid handling, and process control. These products are primarily sold under the Shick Esteve brand. Portion process provides processing equipment, portioning, and equipment solutions. These products are primarily sold under Unifiller and BAKON brands. Primary industries served include food, pharmaceutical, and cosmetics. Screening and Separating Equipment Screening and separating equipment sorts dry, granular products based on the size of the particles being processed. These products are sold under the Rotex and BM&M brands to customers in a variety of industries, including proppants, fertilizers, chemicals, agricultural goods, plastics, forest products, and food processing. A majority of the products use a unique technology based on a specific gyratory-reciprocating motion that provides an optimal material distribution on the screens, gentle handling of particles, and accurate separations. Aftermarket Parts and Service Aftermarket parts and service are a major component of most of Advanced Process Solutions' product lines. Service engineers and technicians are located around the globe to better respond to customers' machines and systems service needs. Advanced Process Solutions offers its customers services, such as installation, consulting, training, maintenance and repairs, spare parts, and modernization solutions. Sales, Distribution, and Operations Advanced Process Solutions sells equipment and systems throughout the world using a combination of direct sales and a global network of independent sales representatives and distributors. A part of Advanced Process Solutions' sales is made through independent sales representatives who are compensated by commission. Equipment and systems orders are often for unique, engineered-to-order items. Products are either assembled and tested at an Advanced Process Solutions facility and then shipped to a customer or are assembled at the customer's desired location. Customers Advanced Process Solutions has customers in a wide range of industries, including plastics, food and pharmaceuticals, chemicals, fertilizers, minerals, and recycling. These customers range from large, Fortune 500 global companies to regional and local businesses. Advanced Process Solutions' net revenue is diversified by end markets, and further penetration of these end markets is an important element of its strategy. Geographically, approximately 37% of Advanced Process Solutions' net revenue in fiscal 2023 came from the Americas, 32% from Asia, and 31% from EMEA (Europe, the Middle East, and Africa). The long-term growth for this segment is driven by megatrends, such as a rapidly growing middle class in China and India and a growing global population, resulting in rising demand for products sold in many of the end markets that Advanced Process Solutions serves, including plastic goods, food, and recycling. Strategy The key elements of the company's strategy are to grow platforms to critical mass to achieve benefits of leadership and scale in attractive end markets organically and through acquisitions; capitalize on emerging trends in end markets, such as food, recycling, and biopolymers; leverage global footprint to provide leading aftermarket support to customers; provide innovative product and service solutions to solve customers' challenges; extend applications expertise to win in adjacent markets with high growth potential; develop new products driven by voice of customer input and changing needs; provide value-added end-to-end solutions from individual components to integrated systems; apply HOM principles and tools, including voice of customer and segmentation, for profitable growth; drive best-in-class lead times to grow share in aftermarket business; implement strategic supplier relationships to improve cost and quality; and enhance productivity through process standardization. Molding Technology Solutions segment Molding Technology Solutions is a global leader in highly-engineered equipment, systems, and aftermarket parts and service for the plastic technology processing industry. Molding Technology Solutions has a comprehensive product portfolio that includes injection molding and extrusion equipment, hot runner systems, process control systems, mold bases and components, and maintenance, repair, and operating (MRO) supplies. Molding Technology Solutions has attractive fundamentals, including strong product and technology positions with substantial brand value and recognition; strong market positions and engineering expertise; a large installed base that supports an aftermarket parts and service business with historically stable revenue and attractive margins; a customer base that is highly diversified in end markets and applications, with a strong history of long-term customer relationships; and geographic diversification, including established operations in high growth countries, such as India and China. The product lines within Molding Technology Solutions have strong brand recognition and an established global footprint, and the company is well-positioned to benefit from continued robust industry growth in both developed and emerging markets. Molding Technology Solutions' breadth of products, long history, and global reach have resulted in a large installed base of plastic processing equipment and hot runner systems. Products and Services Molding Technology Solutions has a product portfolio that includes injection molding and extrusion equipment and hot runner systems and process controller technology. Molding Technology Solutions maintains leadership positions across these product lines, as well as leading positions in process control systems, mold bases and components, and MRO supplies. The Molding Technology Solutions product lines are supported by aftermarket parts and services, which represented approximately 28% of Molding Technology Solutions' total net revenue during fiscal 2023. Products are offered under brand names that are recognized as being among the leaders in their respective industries. Injection Molding and Extrusion Equipment Molding Technology Solutions designs, manufactures and sells plastic processing equipment and systems, which include injection molding, extrusion and auxiliary systems. This equipment is sold under the Milacron brand to a diverse set of customers, including companies in the automotive, consumer goods, electronics, construction, medical and packaging end markets. Hot Runner and Process Control Systems Molding Technology Solutions designs, manufactures and sells highly-engineered, technically advanced hot runner and process control systems. Hot runner and controller systems are sold under the Mold-Masters brand and designed for each product a customer manufactures on an injection molding machine. Hot runner systems are end product-specific and replaced frequently due to design changes and innovation in customers' end products, with a typical aftermarket cycle of one to five years. Recurring sales are supported by a large installed base of hot runner systems worldwide. Mold Components Molding Technology Solutions designs, manufactures, and sells high-quality mold bases and plates available in various configurations to meet the needs of customers for a variety of applications under the DME brand. Pre-engineered assemblies, plates and components provide the economic and technical benefits of interchangeability. Aftermarket Parts and Service Aftermarket parts and service are a major component of most of the Molding Technology Solutions product lines. Service engineers and technicians are located around the globe to better respond to customers' machines and systems service needs. Molding Technology Solutions offers its customers service, consulting, training, maintenance and repairs, spare parts, and retrofits and rebuilds. Sales, Distribution, and Operations Molding Technology Solutions sells equipment and systems throughout the world using a combination of direct sales and a global network of independent sales representatives and distributors. A part of Molding Technology Solutions' sales is made through independent sales representatives who are compensated by commission. Customers Molding Technology Solutions has customers in a wide range of industries, including automotive, medical, consumer goods, packaging, construction and electronics. These customers range from large, Fortune 500 global companies to regional and local businesses, including original equipment manufacturers (OEMs), molders and mold-makers. Geographically, approximately 58% of Molding Technology Solutions' net revenue in fiscal 2023 came from the Americas, 27% from Asia, and 15% from EMEA (Europe, the Middle East, and Africa). Strategy The key elements of the company's strategy are to leverage core technologies and applications expertise to expand presence in current end markets; leverage Hillenbrand's strong positions across the plastics value chain to cross-sell product lines; expand product offering in key end markets, including emerging markets and new segments for sustainability, such as recycling and biodegradable plastics; provide innovative product and service solutions to solve customers' challenges, leveraging shared research and development and technology across the enterprise; develop new products that are focused on solidifying Molding Technology Solutions' current market positions and expanding the market through the introduction of technology that displaces other materials, primarily metal and glass; provide value-added end-to-end solutions from individual components to integrated systems; enable the customer to fulfill sustainability requirements (e.g., reduction of virgin resin); apply HOM principles and tools, including voice of customer and segmentation with a goal to drive profitable growth; leverage Hillenbrand's global footprint and enhance support to customers through the entire lifecycle of their equipment usage to expand sales of aftermarket parts and services; and drive global supply strategy to achieve supply chain and operating efficiencies to improve cost and quality. Intellectual Property The company owns a number of patents on its products and manufacturing processes and maintain trade secrets related to manufacturing processes. The company also owns a number of trademarks and service marks relating to products and services which are of importance. The marks Coperion, Coperion K-Tron, K-Tron, Rotex, BM&M, Herbold, VMI, Bakon, Shaffer, Peerless, Shick Esteve, Unifiller, and DIOSNA brands are material to the company's Advanced Process Solutions segment. The marks Milacron and Mold-Masters are material to the company's Molding Technology Solutions segment. Coperion, Coperion K-Tron, K-tron, Rotex, BM&M, Herbold, VMI, Bakon, Shaffer, Peerless, Shick Esteve, Unifiller, DIOSNA, Milacron, and Mold-Masters, as well as other registered or common law trade names, trademarks or service marks are the property of Hillenbrand or its subsidiaries. Acquisitions On December 1, 2022, the company completed the acquisition of the Peerless Food Equipment division (Peerless) of Illinois Tool Works Inc. On October 6, 2022, the company completed the acquisition of LINXIS Group SAS (Linxis). On June 30, 2022, the company completed the acquisition of Gabler Engineering GmbH and affiliate (Gabler). Divestitures On February 1, 2023, the company completed the divestiture of its historical Batesville reportable operating segment. Research and Development The company's research and development costs are expensed as incurred as a component of operating expenses and were $25.4 for the year ended September 30, 2023. History Hillenbrand, Inc. was founded in 1906. The company was incorporated in 2007 in the state of Indiana.