TORONTO--(BUSINESS WIRE)--ABC Technologies Holdings Inc. (TSX: ABCT) (“ABC Technologies” or “ABC” or the “the “Company”) has been named a 2022 Automotive News PACEpilot award finalist for its variable cooling technology for blow molding.
Entering its third year in 2022, the PACEpilot award is intended to recognize pre-commercial, post-pilot innovations in the automotive or future mobility space, including products, processes, software, and IT systems. Winners will be announced on September 19, 2022.
ABC Technologies’ variable cooling technology is a cutting-edge innovation that focuses on significantly reducing the production cycle time of large molded articles with minimum capital investment and design changes to existing molding tools and equipment. This technology utilizes a proprietary sequential thermal protocol that applies one or more cycles of variable cooling policies during the “in-mold” section of the cycle time, and thus reducing overall production cycle times. This enables ABC to markedly increase production output for large molded products, within existing production facilities.
This recognition demonstrates ABC’s innovation leadership in automotive plastics manufacturing, with over 300 patents, multiple awards from global OEMs, organizations such as the Society of Plastics Engineers (SPE) and others.
“It’s an honour for ABC to be recognized as a finalist for the PACEpilot award for our variable cooling technology, an innovation developed in-house that reduces cycle times by 20%, resulting in lower energy consumption, and increased machine capacity while producing identical, high-quality products for our OEM customers,” said Todd Sheppelman, President and CEO of ABC Technologies.
About ABC Technologies
ABC Technologies is a leading manufacturer and supplier of custom, highly engineered, technical plastics and lightweighting innovations to the North American light vehicle industry, serving more than 25 original equipment manufacturer customers globally through a strategically located footprint. ABC Technologies’ integrated service offering includes manufacturing, design, engineering, material compounding, machine, tooling and equipment building that are supported by an experienced engineering team of approximately 600 skilled professionals and 6,150 employees worldwide, as of the fiscal year ended June 30, 2021. The Company operates in six product groups: HVAC Systems, Interior Systems, Exterior Systems, Fluid Management, Air Induction Systems, and Flexible & Other. For more information about ABC Technologies, please visit www.abctechnologies.com.
This news release contains certain "forward-looking statements" concerning anticipated future events, results, circumstances, performance or expectations with respect to the Company and its operations, including its strategy and financial performance and condition. Forward-looking statements include statements that are predictive in nature, depend upon future events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “estimates”, “intends”, “targets”, “projects”, “forecasts”, “schedule”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. The forward-looking statements contained in this news release include, but are not limited to statements regarding technologies employed by the Company, including variable cooling, and their potential benefits. Forward looking statements are based on underlying assumptions and management’s beliefs, estimates and opinions, and are subject to inherent risks and uncertainties surrounding future expectations generally that may cause actual results to vary from plans, targets and estimates. Forward looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Such risks and uncertainties include, but are not limited to, the factors discussed under the heading “Risk Factors” in the Company’s Annual Information Form dated June 30, 2021 and Management’s Discussion and Analysis for the three and six months ended December 31, 2021 which are available under the Company’s issuer profile on SEDAR at www.sedar.com. The Company cautions readers that actual results may vary significantly from those expected should certain risks or uncertainties materialize or should underlying assumptions prove incorrect. Forward-looking statements are provided for the purpose of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.