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New Medical and Fluid Solutions business segment includes Nordson’s fluid-management products for medical, high-tech industrial, and other end markets.

July 12, 2022

3 Min Read
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Nordson Corp. has realigned its business segments to reinforce the company’s focus on long-term profitable growth, it said in a news release. Three financial reporting segments have been established, effective Aug. 1, 2022:

  • Industrial Precision Solutions (IPS) led by Jeffrey A. Pembroke, Executive Vice President;

  • Medical and Fluid Solutions (MFS) led by Stephen Lovass, Executive Vice President;

  • Advanced Technology Solutions (ATS) led by Srinivas (Srini) Subramanian, Executive Vice President. 

The realignment gives the company better visibility into its medical and electronics platforms, which have grown through both organic and acquisition opportunities, said Sundaram Nagarajan, President and CEO. “This new structure reflects the Nordson of today and enhances the company’s ability to deliver the Ascend strategy goal of top-tier growth with leading margins and returns,” added Nagarajan.

The new MFS segment will include Nordson’s fluid-management products for medical, high-tech industrial, and other end markets. Related plastic tubing, balloons, catheters, syringes, cartridges, tips, and fluid connection components are used to dispense or control fluids within customers’ medical devices or products, as well as production processes. This segment remains one of the company’s growth engines, with revenues of approximately $0.6 billion in fiscal 2021.

Lovass, who joined Nordson in 2016 as the leader of the Industrial Coatings Systems business, will head the MFS segment. Most recently, he led the Strategy and Corporate Development Group. Prior to joining Nordson, Lovass served as president for one of the global sensors and controls businesses at Danaher Corp. He has held senior roles in strategic planning and general management based in the United States, Europe, and Asia.

The ATS segment now will focus on products serving electronics end markets. ATS products integrate Nordson’s proprietary technologies found in progressive stages of an electronics customer’s production processes. Applications include semiconductors, printed circuit boards, electronic components, and automotive electronics. In fiscal 2021, this segment reported revenues of approximately $0.5 billion.

Subramanian, who will lead this segment, joined Nordson in 2006 and has served in roles of increasing responsibility in corporate development, as well as leading the Nordson EFD business. Most recently, he was vice president of the Electronics Processing Solutions business, where he successfully drove execution of the company’s NBS Next growth framework for electronics dispense and surface treatment products across diversified electronics applications.

There is no change to the IPS segment, which is focused on delivering proprietary dispensing and processing technology, both standard and custom, to diverse end markets. Product lines for IPS commonly reduce material consumption, increase line efficiency through precision dispense and measurement and control, and enhance product brand and appearance. Components are used for dispensing adhesives, coatings, paint, finishes, sealants, and other materials. This business primarily serves the industrial and consumer durables and non-durables markets. In fiscal 2021, IPS had revenues of approximately $1.2 billion.

Pembroke leads the IPS segment. Since joining Nordson in 2005, he has been driving growth in many Nordson businesses, and was instrumental in building the Nordson Medical acquisition strategy as well as the company’s growth and innovation platform. Prior to February 2022, he led the Advanced Technology Solutions segment, where he successfully accelerated the deployment of the NBS Next growth framework.

Nordson said it will provide historic financials reflecting this realignment following the third quarter fiscal 2022 10-Q filing.

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