Dover Corporation · NYSE:DOV
Dover — Investor Day (June 2011)
99 slides from Dover's investor day presentation, Jun 1, 2011
Slide 1: Technology Tour Downers Grove & Itasca, IL June 1-2, 2011
Technology Tour Downers Grove & Itasca, IL June 1 - 2, 2011
Slide 2: Agenda - June 1, 2011 - Downers Grove, IL
Agenda - June 1, 2011 - Downers Grove, IL 1:00pm - 1:45pm Arrivals & Refreshments 1:45pm - 2:00pm Meet Dover Executives 2:00pm - 2:15pm Opening Comments - Bob Livingston 2:15pm - 2:25pm DFM Energy Platform 2:25pm - 3:10pm Artificial Lift Presentation - Norris Production Solutions 3:10pm - 3:35pm Dri
Slide 3: Agenda - June 2, 2011 - Itasca, IL
Agenda - June 2, 2011 - Itasca, IL 8:00am Bus to Knowles* from Westin Hotel 8:15am - 9:00am Breakfast at Knowles 9:00am - 9:45am Knowles Presentation 9:45am - 10:15am Q & A 10:15am - 10:30am Break 10:30am - 11:30am Knowles Tour 11:30am - 12:15pm Lunch 12:15pm Bus to O'Hare International Airport (ORD
Slide 4: Forward Looking Statements
4 Forward Looking Statements We want to remind everyone that our comments may contain forward-looking statements that are inherently subject to uncertainties. We caution everyone to be guided in their analysis of Dover Corporation by referring to our Form 10-K for a list of factors that could cause
Slide 5: Technology Tour - Bob Livingston, CEO
Technology Tour Downers Grove & Itasca, IL June 1 - 2, 2011 Bob Livingston - CEO
Slide 6: Dover's Q1 2011 Performance & Full-Year Outlook
Dover's Q1 2011 Performance & Full-Year Outlook Continuing Earnings Per Share 2009 FY $3.74 Revenue $ 2.0B ^ 24% ^ 12% - 14% Organic Rev. Growth ^ 19% ^ 9% - 11% Net Acq. Growth ^ 4% ^ 3% Segment Margins 15.6% ^ 60 bps ^ 17% EPS (cont.) $0.96 ^ 48% $4.30 - $4.45 Bookings $2.2B ^ 27% FCF (a) $80M ^ 6
Slide 7: Positioning for Growth
Positioning for Growth Maintaining advantaged Dover business model Strategic Focus Areas The Strategy Remains Consistent Capturing the Benefits of Common Ownership Disciplined Capital Allocation 7
Slide 8: Positioning for Growth - Five Key Growth Spaces
Positioning for Growth - Five Key Growth Spaces 60% of 2010 Revenue & 70% of 2010 Segment Earnings Energy Product Identification Refrigeration & Food Service Equipment Communication Components Fluid Solutions FY 2010 revenue: $886 M FY 2010 revenue: $1,035 M FY 2010 revenue: $838 M FY 2010 revenue:
Slide 9: Growth Tailwinds
Increased living standards Infrastructure build-out Manufacturing/LCC capabilities International/ BRIC growth Global energy demand Increased demand, depleting resources Renewable energy technologies Emerging market growth Sustainability Energy efficiency Environmentally friendly products Recycling C
Slide 10: Capital Allocation - Recent Deals
Expands Energy growth space as part of Norris Production Solutions portfolio of technology in artificial lift applications and strengthens product alignment Customers value comprehensive down- hole solutions from a single source Increases scale and enables better penetration in international oil and
Slide 11: Diversified End-Markets
Diversified End-Markets Based on FY 2010 revenue Based on FY 2010 revenue Asia & Latin America are among our fastest growing regions 2010 Asian revenue surpasses Europe in Q3 & Q4 2011 China Q1 growth = 69%; Asia (inc. China) grows 40% in Q1 Q1 Latin America growth = 30% Businesses spread across eco
Slide 12: Conclusion - Financial Goals - Next Three Years
Conclusion - Financial Goals - Next Three Years GROWTH Grow 6% - 8% organically, complemented by acquisition growth of 3% - 5% Total shareholder return in the top quartile of our peer companies MARGIN Expand segment margin to 17% - 18% by 2013 CASH FLOW Generate free cash flow of 10% of revenue 12
Slide 13: DFM Energy Platform
DFM Energy Platform Sustained Growth Through Technology Leadership Soma Somasundaram EVP, Dover Fluid Management June 1, 2011 · Dover Technology Tour
Slide 14: Dover Fluid Management
Dover Fluid Management Energy (54%) Leading component and service supplier serving: Oil & gas drilling and production Gas processing and transmission Turbine power generation Fluid Solutions (46%) Specialty fluid handling products Pumps and compressors Vehicle fueling components Hazardous fluid hand
Slide 15: Energy Platform Sales - Attractive Growth Platform
Energy Platform Sales - Attractive Growth Platform US Rig Count 2000-'11 CAGR 6.3% 3
Slide 16: Energy Platform Market Size
Energy Platform Drilling & Production Market Size: $7.5B 2011-'14 CAGR: 6.1% Note: Market size & growth rates applicable to our product portfolio Processing & Transmission Market Size: $2.9B 2011-'14 CAGR: 8.0% Power Generation Market Size: $0.8B 2011-'14 CAGR: 4.0% High-Performance Diamond Drill Bi
Slide 17: Oil Outlook
Oil Outlook Oil Demand Supply Challenge Supply Challenge Supply Challenge Economic recovery & emerging markets driving demand Supply disruptions in Middle East - shrinking capacity Raising reserve replenishment costs - increasing role of unconventional oil Significant Investment Is Needed In Crude S
Slide 18: Natural Gas Outlook
Natural Gas Outlook NG Demand NG Production Shale Gas - 'Game Changer' Shift to 'liquid rich' basins 87% production growth projected in non-OECD - lack of infrastructure will be a challenge North American Market Remains Well Supplied Favorable Government Policies Needed To Support Demand Source: IEA
Slide 19: What Are The Major Challenges For Our Customers?
What Are The Major Challenges For Our Customers? Increasing Production Rates & Efficiency Depleting reservoirs Rising operation costs Reserves Replenishment & Addition Constrained resource access Physical and Political Focus on improving recovery factor Quality of reservoir and hydrocarbon Risk Redu
Slide 20: How Does Our Technologies Help Our Customers Solve These Challenges
How Does Our Technologies Help Our Customers Solve These Challenges How Does Our Technologies Help Our Customers Solve These Challenges There is a positive correlation between operator (customer) efficiency and our profitability 8
Slide 21: Norris Production Solutions
Norris Production Solutions Dan Newman President June 1, 2011 · Dover Technology Tour
Slide 22: Artificial Lift and Rod Lift Market Overview
Artificial Lift and Rod Lift Market Overview (CHART) (CHART) Total = $6.8 B Gas Lift $291M or 4% Jet Lift $98M or 1% Plunger $260M or 4% PCP $639M or 9% Other $46M or 1% Rod Lift $1.95B or 29% SOUCE: L.E.K. Interviews and Analysis, 2008 and 2010 ESP $3.5B or 52% Artificial Lift Market ($6.8B) Rod Li
Slide 23: NPS Portfolio - Market Leading Technologies
Sucker and coiled drive Rods PC Pumping Unit Surface drive head Drive Rods Coiled Rod Sucker Rods Rod Pumps String Accessories Design Software Plungers Automation Motor Valves Design Software Valves Flow Control Tanks & Monitors Separators Automation NPS Portfolio - Market Leading Technologies 11
Slide 24: NPS - Attractive Top Line Growth
NPS - Attractive Top Line Growth 2011 Organic Volume Still 8% below 2008 Peak ... Continued growth momentum 12 US Rig Count 2000-'11 CAGR 6.3%
Slide 25: Harbison-Fischer Acquisition Strategic Rationale
Strategic Rationale Downhole pump products logical extension to NPS total rod lift solution Overlap of existing customers with NPS Premium brand with leading market share Revenues are >90% due to replacement, decreasing cyclicality Strong history of high profitability. Financial Expectation Early Re
Slide 26: Production and Efficiency Challenges for Our Customers
Production and Efficiency Challenges for Our Customers Increasing production efficiency by reducing downtime Harbison-Fischer - Sand pump Norris - Extended life sucker rods Increasing well servicing efficiency C-Tech - Rapid Service Rigs (RSRs) Optimizing well production and safety Ferguson Beaurega
Slide 27: Reducing Downtime Due to Extreme Downhole Environments
Reducing Downtime Due to Extreme Downhole Environments Harbison-Fischer - Sand Pro Sand and Iron Sulfite buildup can be problematic when encountered by our customers Sand Pro is a patented technology that minimizes particulate buildup/abrasion on the pump Extends run time up to x10 Reduces unplanned
Slide 28: Increasing Production Efficiency by Reducing Downtime
Increasing Production Efficiency by Reducing Downtime Norris Rods/HF Pump Improved mean time between failures (MTBF) Norris - 1,600,000 Cycles to Failure Competitor A - 813,000 Cycles to Failure Competitor B - 516,000 Cycles to Failure Fatigue Life of Norris Rods is 2-3 X competition Proprietary Pro
Slide 29: Increasing Well Servicing Efficiency
Increasing Well Servicing Efficiency RSR Well Service Rig Capital Cost $1-1.5 million $2.5-5 million Crew Size 4 people 6 people Cost difference Example job - 7500ft Permian pump change with jointed rod Cost difference Example job - 7500ft Permian pump change with jointed rod Cost difference Example
Slide 30: Global Expansion
Global Expansion Reciprocating Lift PCP Size (2010) Growth (10-20) Size (2010) Growth (10-20) Eastern Europe & FSU $297M 7.7% $93M 15.8% China $383M 5.4% $78M 6.9% South America $170M 5.1% $117M 7.5% Middle East $34M 6.7% $13M 10.6% Southeast Asia $31M 7.1% $5M 10.0% Australia $9M 9.1% $11M 12.1% Me
Slide 31: Coil Rod Mini Plant
Coil Rod Mini Plant Coil Rod Mini Plant Modular Plant Advantages Skid Mounted - Easily Transportable Allows for reduced transportation costs of Raw and Finished product Enables local content Highly reliable/repeatable Half the CAPEX of Competitor's equipment Modularization of coiled rod plant to qui
Slide 32: Next Frontiers of Technology We are Working On
Next Frontiers of Technology We are Working On Hybrid Chamber Lift System - Harbison-Fischer Provides a cost effective method for removing liquids from "long reach" horizontal wells Variable Slippage Pump - Harbison-Fischer Unique design eliminating downhole pump failures in flow restricted applicat
Slide 33: Summary: Why we are Bullish
Summary: Why we are Bullish Long Term Global Demand for Oil and Gas Declining Reservoir Pressures in Maturing Fields Globally will Require Artificial Lift NPS Has the Leading Technology Brands and Products In the Artificial Lift Space Expertise Product Performance - Premium Pricing, Market Capture S
Slide 34: US Synthetic - Ken Jensen
Ken Jensen Vice President - Marketing & Business Development June 1, 2011 · Dover Technology Tour 22
Slide 35: USS - Technology & Innovation Driving Superior Growth
USS - Technology & Innovation Driving Superior Growth Note: USS was acquired 2H 2004 Source: Spears OMR 2010 23 Drill Bit Market 2005-'11 CAGR 9.7%
Slide 36: Diamond Drill Bit Inserts do the Difficult Cutting Work
Diamond Drill Bit Inserts do the Difficult Cutting Work at the End of the Drillstring Fixed cutter bit & inserts Rolling cone bit & inserts Percussion bit & inserts US Synthetic Products Customers' Products 24
Slide 37: Proprietary HPHT Presses are Key to Making Drill Bit Inserts
Proprietary HPHT Presses are Key to Making High-performance Drill Bit Inserts Diamond Grit Tungsten-Carbide Substrate Diamond Insert High Pressure High Temperature Cubic Press Process Conditions Pressure: 1 million psi (Similar to the Eiffel Tower , upside down on a 5" plate) Temperature: 1400° C (H
Slide 38: All downhole drilling technologies depend on cutter performance
All downhole drilling technologies depend on cutter performance PDC TECHNOLOGY IS A COMPLEX OPTIMIZATION OF CHARACTERISTICS NEEDED FOR DRILLING Wear life, Impact strength, Thermal stability The pace of development is extremely rapid, given the challenge we face Each customer expects 2-6 new products
Slide 39: Drill Bits are a Small Portion of Drilling Costs
Drill Bits are a Small Portion of Drilling Costs, but can Deliver Substantial Savings Source: US Synthetic Estimates 27
Slide 40: Savings that PDC Inserts on Fixed Cutter Bits can Deliver
While diamond inserts on the drill bit represent less than 1% of the drilling cost, they can save the operator hundreds of thousands of dollars. A Gulf of Mexico example: Diamond Inserts An Example of the Savings that PDC Inserts on Fixed Cutter Bits can Deliver 28
Slide 41: Difficult Drilling & PDC Adoption Have Driven Growth
Difficult Drilling & PDC Adoption Have Driven Growth of PDC Bits and PDC Inserts Source: Spears & Associates 29
Slide 42: We Re-win Our Business Every Day
In drilling, the best performance wins. We re-win our business every day. Recent share gains are a result of a faster innovation cycle and improved product performance. When our customers win and gain share, we gain share against our competition indirectly. We've been gaining share directly and indi
Slide 43: A Lot of Room to Grow
Current estimated share Room for growth in N.A. China/Russia illustrate E. hemisphere opportunity Share 24 months ago A Lot of Room to Grow: Continued PDC Adoption, Technology Leadership Source: US Synthetic Estimates Source: Spears & Assoc., US Synthetic PDC Adoption Share Gain 31
Slide 44: Looking forward: accelerating pace of innovation
Looking forward: accelerating pace of innovation will preserve technology advantage Better 32
Slide 45: Waukesha Bearings - Jay Burnette
Jay Burnette Vice President & General Manager June 1, 2011 · Dover Technology Tour 33
Slide 46: Corporate Overview
Corporate Overview WBC will be the market and technology leader, supported by innovation, highly technical sales, operational excellence and global expansion... Fluid Film Bearings 65% of Revenue Sealing Products 25% of Revenue Magnetic Bearings 10% of Revenue 34
Slide 47: Global Locations
Global Locations Bearings Pewaukee/Antigo, WI Inpro/Seal Rock Island, IL Bearings / Inpro London/Glasgow, UK Magnetic Bearings Worthing, UK Bearings Guaymas, Mexico Bearings / Inpro Suzhou, China Inpro/Seal Brazil Magnetic Bearings Moscow, Russia Bearings Aftermarket Houston, TX Bearings / Inpro / A
Slide 48: Growth History
Growth History Revenue $ Millions Acquisition of Glacier RPB Acquisition of Inpro/Seal Acquisition of KMC and Bearings Plus 19% Market CAGR ~7% 36
Slide 49: Differentiated Technology in a High-value Niche
Differentiated Technology in a High-value Niche Engineered hydrodynamic bearings, magnetic bearing systems and sealing solutions for high-performing rotating equipment... Hydrodynamic Bearings Magnetic Bearing Systems Sealing Products 37
Slide 50: Best-in-class Technology...an Ongoing Investment
Best-in-class Technology...an Ongoing Investment Best-in-class Technology...an Ongoing Investment Investment in people and innovation 30% of salaried workforce degreed engineers; many with advanced degrees. Driving innovation...internally and through acquisitions. Continuous improvement of processes
Slide 51: Anticipating Future Market Needs
Anticipating Future Market Needs... Fluid Film Bearings Higher speeds and loads. Radial and axial vibration. Advanced materials. Inpro/Seal Conditioning monitoring - CDR. Complementary contact seal technology. 'Pillow Block' bearing isolator products. Magnetic Bearings Enhanced sensor technology. 'N
Slide 52: Case Study - Power Generation Project
Case Study - Power Generation Project Siemens (Berlin) SGT5-8000H gas turbine. World's largest simple cycle at 375 MW. EUR500 million development. Goal: Develop Bearings To Meet Siemens' Objectives High-efficiency with low emissions. Improved Life Cycle Costs. Increased reliability / availability. O
Slide 53: Summary Points
Summary Points Waukesha Bearings is well positioned: Superior technology and application experience. Strongest brands. End-customer intimacy through aftermarket. Dover synergy enabling geographic expansion, creating competitive advantage. A strong history of organic growth. Market dynamics creating
Slide 54: Gas Turbine Based Power Generation Growing
Gas Turbine Based Power Generation Growing... 42 Source: Forecast International $ Billions 4%
Slide 55: With a Strategy Focused on Technology Leadership
With a Strategy Focused on Technology Leadership . . . 43
Slide 56: Waukesha Bearings will Double by 2016
.. . . Waukesha Bearings will Double by 2016. Geographic Expansion Geographic Expansion New Products Real Total Share Gain Market Growth Market Growth Pricing 2016 2011F Fluid Film Inpro/Seal Magnetics 16% Target higher growth through additional bolt-on acquisitions Revenue $ Millions 15% 25% 15% 30
Slide 57: LLLIISI III III FIP
LLLIISI III III FIP —— ll eee
Slide 58: Micro-Acoustic & Human Interface Products
Jeffrey Niew, President & CEO June 2, 2011 Micro-Acoustic & Human Interface Products
Slide 59: Overview of Knowles
Overview of Knowles Founded in 1946, Knowles Electronics is a leading global manufacturer of value add, human interface components serving a variety of applications and markets. #1 supplier of MEMS surface-mount microphones (SiSonic(tm)) to the mobile handset market. Undisputed leader in the design
Slide 60: Financial Performance
Financial Performance 3 Revenue Millions ($) CAGR 15%
Slide 61: Global Footprint
Global Footprint 14 facilities in 9 countries with 5,000 employees 4 Headquarters KE Manufacturing KA Manufacturing Sales, Support & Engineering Facilities
Slide 62: Competency - MEMS Microphone Market Shares
Competency - MEMS Microphone Market shares of MEMS microphone suppliers in units 5 Knowles still over 80% Infineon and MemsTech emerge as #2 and #3 sources Sonion loses share to Knowles at Nokia Panasonic and Yahamha discontinue production Wolfson and ADI start to ship in Q2 and Q4 2009, resp. #1 Su
Slide 63: Package size history and roadmap
Package size history and roadmap 6 Competency - MEMS Microphone (CHART) 4.72 x 3.76 mm 3.76 x 3.0 mm 3.76 x 2.24 mm 3.35 x 2.5 mm 3.0 x 1.9 mm 4 x 3 mm 4 x 3 mm Continuous creation of package "envelope" space: Smaller footprint More functions in compact footprint Digital Analog
Slide 64: Competency - MEMS Microphone Leading Edge Performance
Competency - MEMS Microphone Leading Edge Performance 7 Typical Headset (ECM) SiSonic(tm) Analog (Top Port) SiSonic(tm) Analog (Bottom Port) Typical Handset (ECM) SiSonic(tm) microphones offer the highest SNR in the smallest footprint 8.5mm2 7.5mm2 12.5 - 28mm2 SiSonic(tm) Digital 12.5 - 28mm2 12mm2
Slide 65: Competency - Technology and Cost Driven
Competency - Technology and Cost Driven Silicon tech roadmap to Gen 4 8 Gen 1 (03) Gen 2 (05) Gen 3 (07) MEMS Gen 4 (11) 2.72 mm^2 1.82 mm^2 1.21 mm^2 0.81 mm^2 CMOS 1.1 mm^2 0.79 mm^2 0.48 mm^2 0.21 mm^2 Total Silicon Area 3.72mm^2 2.61mm^2 1.69mm^2 ~1mm^2
Slide 66: Competency - World-Class Manufacturing
Competency - World-Class Manufacturing Consistent production of highest quality microphones and speakers Flexible to changing demand Tailor-made automation concepts 9 Fully automated Labor Intensive Semi automated
Slide 67: Value of Knowles
Value of Knowles Technologically- advanced products and solutions Partnership with the Broad product market leader portfolio Dedicated global customer service & application support Best in class acoustic performance High volumes in constant quality
Slide 68: Knowles Electronics
Knowles ae SS Electronics S >
Slide 69: KE Business Unit Major Product Offerings
KE Business Unit Major Product Offerings Subminiature Speakers Subminiature Microphones Switches, Telecoils, and Programming Accessories Integrated Faceplate Module 12
Slide 70: KE Business Unit
KE Business Unit +75% market share Consistent growth, diverse customer base 13 Trimmers Volume Controls Switches Telecoils Connectors Microphones
Slide 71: Growth Drivers
Growth Drivers Aging population Increasing penetration Improved product performance through technology Alternative product categories (Lyric, AMP) Erosion of stigma Emerging market development 14
Slide 72: Low Penetration Rate in Industry
Low Penetration Rate in Industry 15
Slide 73: Technology
Technology Knowles partnered with RITE pioneers and has been building receiver assemblies since 2004 16
Slide 74: The Hearing Aid for People Who Aren't Ready for a Hearing Aid
THE HEARING AID FOR PEOPLE WHO AREN’T READY FOR A HEARING AID.
Slide 75: Emerging Market
Emerging Market Forecast of market development in Europe - hearing aids sold by style 18
Slide 76: Knowles Acoustics
Knowles Co 6G # Acoustics Of te
Slide 77: KA Business Unit Major Product Offerings
KE Business Unit 20 Major Product Offerings SiSonic(tm) (world's first MEMS microphone) Specialty Transducers Finished Goods Headsets Far Field Digital Array
Slide 78: Micro-Acoustic Product Applications
Micro-Acoustic Product Applications 21
Slide 79: Strong Customer Base
Strong Customer Base KA Market Position in Key Consumer Electronics Segments 22 Mobile Phone Laptop/ Notebook DSC Other (MP3, Gaming, etc)
Slide 80: SiSonic
SiSonic(tm) #1 supplier of MEMS microphones - 2 BILLION SHIPPED First mover advantage Supply to virtually all Tier I mobile phone manufacturers Opportunities with notebook, headsets, gaming, DSC 23 Loose MEMS MEMS Wafer
Slide 81: Growth Drivers
Growth Drivers Growth of personal mobile category - handsets and notebooks now joined by media tablets. Smartphone segment for handsets - 2011 to 2014 2.5B smartphones to be shipped. Continued global migration from 2G to 3G devices - 80% of new phones in 2012 will be 3G. The importance of accurate a
Slide 82: Market - Cell Phones
Market - Cell Phones 25 Source: Qualcomm Total handset market in 2010 at 1.3B+ and growing at 7%-8% per year
Slide 83: HD Audio SiSonic Microphone Platforms
HD Audio SiSonic(tm) Microphone Platforms 26
Slide 84: High SNR Microphones
27 SNR 69dB (bottom port) Samples available now SNR 65dB (bottom port) Samples available now High SNR Key Benefits Low system noise for Audio Capture and Voice Call in a Quiet Environment Improves performance of Noise Suppression Algorithms in Loud Environment
Slide 85: Compact Microphones
28 SPA: 8.4mm2 SPQ: 8.4mm2 SPY: 5.7mm2 25% Size Reduction 33% Size Reduction Compact: Key Benefits For any applications when board space is a premium, especially when using multiple microphones
Slide 86: New Products - MEMS Joystick
New Products - MEMS Joystick 29
Slide 87: New Products - Optics
New Products - Optics 30 Miniaturized Optic Zoom technology still does not exist in the market place. Continue to expand KEZ technology team. KEZ is conducting further Research & Development on the technology to achieve target Optic performance. Targeting end of year 2011 for proof of concept sample
Slide 88: The Acquisition of Sound Solutions
The Acquisition of Sound Solutions 31
Slide 89: Who is Sound Solutions?
Who is Sound Solutions? 32 Receiver Speaker Microphone (Knowles) #1 supplier of speakers and receivers to the mobile handset market Receivers = Ear piece Small speaker for usage at or near the ear Speaker Boxes Speakers Used for alert and hands-free speaking Global footprint 1,000 employees in Vienn
Slide 90: First to Market with Major Innovations
First to Market with Major Innovations 33 Micro 13 mm Pico 8 mm 2002 world's smallest design FLAT range 23/28/34/38 mm 1994 world's flattest design 1997 world's smallest design 2005 world's first rectangular design RA Speaker 11x15 mm 2005 world's smallest rectangular design RA Receiver 10x4.8x2 mm
Slide 91: Key Application Areas
Key Application Areas 34 Consumer Electronics MP3 players Navigation Compact/Video cameras Portable DVD Dictaphones Mobile Phones All segments Basic Feature Smartphones Computing Netbooks Notebooks Tablet PCs Others Consumer Medical Logistics
Slide 92: Strong Customer Base
Strong Customer Base 35 Market Position in Key Consumer Electronics Segments Mobile Phone Laptop/ Notebook Other (MP3, Gaming, etc)
Slide 93: Operational Excellence
Operational Excellence Leader in automation Consistent production of highest quality loudspeakers Manufacturing concepts Fully automated (40M Pcs per line p.a.) Semi automated (5M Pcs per line p.a.) Hybrid Flexible to changing demand 36
Slide 94: Shaping the Future Mobile Sound Experience
Shaping the Future Mobile Sound Experience 37 Smart amplifiers High Performance Speakers + Louder sound More bass Increased reliability = Happy consumers Audio software On the roadmap Virtual Back Volume Heat-resistant speakers Integration of sound-enhancing software Higher compliance membranes
Slide 95: Strategic Rationale
Strategic Rationale Fits squarely into strategy of expanding Communication Components Product offering strongly complements Knowles product line Focused on a 'one-stop shop' Ability to share innovation expertise and leverage scale Customers will benefit from the breadth and depth of products Custome
Slide 96: Synergies
Revenue Technology | Procurement Process SYNERGIES
Slide 97: Premier Acoustics Company
Premier Acoustics Company 40 Today: Knowles supplies only the microphone portion of the audio system Tomorrow: Knowles is building audio ASIC design capabilities Future: Sound Solutions provides significant opportunity to enhance our position as audio supplier Cellular modem General purpose processo
Slide 98: Future Enterprise Vision
Future 41 Enterprise Vision Strategic Drivers Tactical Levers Human Capital Human Interface Devices KE Market KA Growth New Products Low Cost Manufacturing Value Creation Expand Our Core Human Capital Development Build Strategic Competencies Develop Our Talent Drive Organizational Performance Innova
Slide 99: Micro-Acoustic & Human Interface Products
Micro-Acoustic & Human Interface Products