Kewaunee Scientific Corporation Announces Strategic Alliance with Schneider Electric
STATESVILLE, N.C., July 19, 2021 /PRNewswire/ -- Kewaunee Scientific Corporation (NASDAQ: KEQU), a recognized global leader in the design, manufacture, and installation of laboratory, healthcare, and technical furniture products, is proud to announce a strategic alliance between Schneider Electric and Kewaunee Scientific Corporation's International division. The alliance will focus on Kewaunee's core international markets, including India, the Middle East, and the Pan-Asian rim.
The combined experience of Kewaunee's International Division and Schneider Electric will offer an unparalleled value proposition for customers who desire an integrated, turn-key solution when building a new laboratory or modernizing an existing facility. Investments in technology made through the partnership will result in enhanced capabilities to assist customers as they navigate inherent challenges in designing, constructing, and maintaining a twenty-first century laboratory while providing solutions to meet customers' evolving digital and sustainability goals.
"We are proud to enter into this alliance just as the pandemic accelerates the needs of the life sciences and healthcare sectors to reimagine and redesign the operation and functioning of smart laboratories," says Manish Kumar SVP, Digital Buildings, Schneider Electric. "We envision a future where our technical expertise and Kewaunee International's prowess in manufacturing and infrastructure will render all-encompassing smart labs to create a more sustainable ecosystem for our customers."
"The need for transformative solutions and practices in diagnostics and testing have expedited the growth of the Healthcare and Life Sciences industries," says Bhupesh Arora, Business Head, Digital Energy, Schneider Electric India. "Our collaboration with Kewaunee will redefine laboratories with revolutionary technologies that can predict, analyze, diagnose, and provide solutions at unparalleled speed and increased efficiency in India and globally."
"The future of laboratory infrastructure is changing, and Kewaunee is investing and building capabilities to lead the laboratory 4.0 solution transformations for our customers. We are excited to partner with Schneider to provide these cutting-edge capabilities to our customers and grow together as future-ready companies," says B. Sathyamurthy, Vice President & Managing Director -International Operations, Kewaunee Scientific Corporation.
"This alliance brings together two industry leaders to provide an unparalleled offering to customers who demand better performance and insights from their laboratories," says Thomas D. Hull III, President & Chief Executive Officer, Kewaunee Scientific Corporation. "I expect demand for the products and services Kewaunee provides will continue to increase due to a renewed focus on being prepared to combat global health challenges as we saw during this past year. This alliance with Schneider Electric enhances Kewaunee's position as a market leader, increasing the value proposition we offer customers."
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About Schneider Electric
Schneider's purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On. Our mission is to be your digital partner for Sustainability and Efficiency. We drive digital transformation by integrating world-leading process and energy technologies, endpoint to cloud connecting products, controls, software, and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries. We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
About Kewaunee Scientific
Founded in 1906, Kewaunee Scientific Corporation is a recognized global leader in the design, manufacture, and installation of laboratory, healthcare, and technical furniture products. The Company's products include steel, wood, and laminate casework, fume hoods, adaptable modular systems, moveable workstations, stand-alone benches, biological safety cabinets, and epoxy resin worksurfaces and sinks.
The Company's corporate headquarters are located in Statesville, North Carolina. Direct sales offices are located in the United States, India, Saudi Arabia, and Singapore. Three manufacturing facilities are located in Statesville serving the domestic and international markets, and one manufacturing facility is located in Bangalore, India serving the local and Asian markets. Kewaunee Scientific's website is located at http://www.kewaunee.com.
This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements regarding the Company's future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "predict," "believe" and similar words, expressions and variations of these words and expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other important factors that could significantly impact results or achievements expressed or implied by such forward-looking statements. Such factors, risks, uncertainties and assumptions include, but are not limited to: competitive and general economic conditions and the ongoing impact of the COVID-19 pandemic, including disruptions from government mandates, both domestically and internationally; changes in customer demands; technological changes in our operations or in our industry; dependence on customers' required delivery schedules; risks related to fluctuations in the Company's operating results from quarter to quarter; risks related to international operations, including foreign currency fluctuations; changes in the legal and regulatory environment; changes in raw materials and commodity costs; and acts of terrorism, war, governmental action, natural disasters and other Force Majeure events. The cautionary statements made pursuant to the Reform Act herein and elsewhere by us should not be construed as exhaustive. We cannot always predict what factors would cause actual results to differ materially from those indicated by the forward-looking statements. Over time, our actual results, performance, or achievements will likely differ from the anticipated results, performance or achievements that are expressed or implied by our forward-looking statements, and such difference might be significant and harmful to our stockholders' interest. Many important factors that could cause such a difference are described under the caption "Risk Factors," in Item 1A of our Annual Report on Form 10-K for the fiscal year ended April 30, 2020, which you should review carefully, and in our subsequent quarterly reports on Form 10-Q and current reports on Form 8-K. These reports are available on our investor relations website at www.kewaunee.com and on the SEC website at www.sec.gov. These forward-looking statements speak only as of the date of this document. The Company assumes no obligation, and expressly disclaims any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Kewaunee Scientific Corporation
Company Codes: NASDAQ-NMS:KEQU
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