Dover Corporation · NYSE:DOV
Dover — Investor Day (June 2017)
95 slides from Dover's investor day presentation, Jun 6, 2017
Slide 1: Mid-Year Investor Meeting
Mid-Year Investor Meeting Rosemont, Illinois June 6, 2017 Exhibit 99.1
Slide 2: Forward looking statements
2 Forward looking statements We want to remind everyone that our comments may contain forward-looking statements that are inherently subject to uncertainties and risks. We caution everyone to be guided in their analysis of Dover by referring to the documents we file from time to time with the SEC, i
Slide 3: Mid-Year Investor Meeting - Bob Livingston
Mid-Year Investor Meeting Bob Livingston June 6, 2017
Slide 4: Our strategy to create long-term value
4 Our strategy to create long-term value Build platforms in key markets with significant growth potential Capitalize on our expertise by providing a larger suite of products and solutions to customers on a global basis Innovate to launch new products to help customers win in their markets Ex
Slide 5: Segments, key platforms, and unique capabilities
5 $1.4 $2.5 $2.3 $1.6 2017F Revenue Refrigeration & Food Equipment • Retail refrigeration • Food Equipment • Heat transfer solutions Fluids • Retail Fueling • Hygienic & Pharma • Pumps Engineered Systems • Marking & Coding • Digital Printing • Refuse Handling & Auto Service equipment Energy Refriger
Slide 6: Meaningful organic growth opportunities ahead
6 Meaningful organic growth opportunities ahead Engineered Systems benefits from consistent growth in Marking & Coding markets and improving global Industrial markets – Complemented by strong Digital Textile printing markets Fluids growth driven by multi-year EMV upgrade cycle – Improved industr
Slide 7: Other growth drivers
7 Other growth drivers Geographic expansion – Developing economies represent <20% of total revenue Product innovation – Deliver solutions that drive productivity and use less energy Grow recurring revenue across organization – currently 30% of revenue Accelerate development and commercializa
Slide 8: Margin opportunities at each segment
8 Margin opportunities at each segment Engineered Systems – Productivity improvements – Leveraging investments Fluids – Significant opportunity in Retail Fueling – Strategic pricing – Ongoing productivity Energy – Strong conversion on volume increases – Pricing in certain product categories
Slide 9: Positioning Dover for higher growth and margin expansion
9 Positioning Dover for higher growth and margin expansion Expand platforms that have scale, consistent cash flows and are benefitting from tailwinds Multiple high growth opportunities via M & A – Food Equipment – Targeted pump markets – Digital Print Divest other assets as appropriate
Slide 10: Key messages
10 Key messages Leading positions in meaningful areas of the portfolio with strong growth characteristics Solid and growing position in digital applications that align to customer productivity and performance improvement Ample margin improvement opportunities at all segments, aided by Dover Bu
Slide 11: Fluids - Bill Spurgeon
Fluids Bill Spurgeon June 6, 2017
Slide 12: Fluids
12 Fluids 12 11 of last 13 acquisitions were outside the United States Increasing recurring revenue from remote monitoring and software as a service Growing installed base driving sustainable aftermarket revenue 18% 51% 22% 9% Asia North America Europe Rest of World 60% 29% 11% Retail Fueling
Slide 13: Select growth markets at a glance - Fluids
13 Select growth markets at a glance - Fluids Estimated market size $2.0B $7.0B 2017 – 2019 est. market CAGR Key competitors 2017F DOV revenues ~$1.3B ~$250M Retail Fueling low-to-mid singles, plus EMV lift mid-to-high singles Key growth drivers Hygienic & Pharma • EMV upgrade cycle • Environmental
Slide 14: Fluids: Growth & Innovation overview
14 Fluids: Growth & Innovation overview Growth is driven by product and service innovation across our platforms We are continuing to grow and invest in the developing markets Enabling safe injectable drug/vaccine production Expand QuattroFlow & AseptiQuick single use offerings to Biopharma H
Slide 15: Pump market drivers and our strategy
15 Pump market drivers and our strategy Specific market drivers Global Industrial growth Polymer demand growing faster than GDP Growing demand from Pharma / Hygienic end-users Customers demanding remote monitoring solutions Dover strategy to win Leverage strong distribution channels around
Slide 16: Innovation – Underwater Pelletizing System
16 Innovation – Underwater Pelletizing System Fully integrated end-to-end solution including pump, screen changer, pelletizer and dryer • Helping customers win through: – Ergonomic design, small footprint – Easy operation, cleaning and maintenance (improved accessibility) – Higher output (e.g. Dryer
Slide 17: Innovation – Single-Use sterile connection and pump solutions
17 Innovation – “Single-Use” sterile connection and pump solutions Saves Lives, Dollars & Environment – Flexible systems support faster drug development and global availability – Sterile connection minimizes contamination risks – Single-use reduces energy, water and carbon footprint 4 1 2 3 Enabli
Slide 18: Dover Fluids operating margin rate
18 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2019 Dover Fluids operating margin rate 20%+ Target Margin rates exclude AD&A and product recall Strong businesses with solid margin profile and well-defined path to historical performance
Slide 19: Margin expansion opportunities
19 Margin expansion opportunities Deliver acquisition synergies, comprising one-third of 3-year segment margin expansion Consolidate manufacturing footprint globally Expand strategic pricing initiatives Leverage established back office shared services for Finance, IT and HR Drive productiv
Slide 20: Key takeaways
20 Key takeaways 20 Near term Deliver solid organic growth: – Hygienic / Biopharma markets: mid-to-high single-digit organic growth – Pumps: mid single-digit organic growth – Retail fueling / transport: low single-digit organic growth Improve core margin and integrate new acquisitions Mid-term
Slide 21: Dover Retail Fueling
Dover Retail Fueling David Crouse Steve Belt June 6, 2017
Slide 22: Building Retail Fueling platform
22 Building Retail Fueling platform Pre 2013 Hanging hardware Valves Car wash systems Fleet fueling systems 2013 Containment systems Access & fill covers European style piping 2016 Dispensers Automation & POS systems Wireless tank gauges Cloud-based /remote monitoring /SaaS D
Slide 23: Retail Fueling market overview
23 53% 10% 16% 21% Available Market: $7B 53% 21% 16% 10% North America EMEA Asia-Pacific Latin America Retail Fueling market overview Global business Attractive End-Markets Revenue by World Region Global Market for Retail Fueling is $7B Long-term market growth is 2% – 3% per year with periodic tai
Slide 24: Market drivers: All trending positive on a global scale
24 Market drivers: All trending positive on a global scale Global infrastructure growth: – Population growth, increasing incomes, vehicle ownership, consumption of fuel Energy demand, including alternative fuels: – CNG and LNG continue to grow yet current price of diesel slowing the pace Envir
Slide 25: Key customers
25 Key customers Major Oil Companies National Oil Companies Convenience Stores Hypermarkets Fleets Chemical/Industrial Significant position with the major oil companies and C- Stores Critical mass in all geographies around the world enables us to service the National Oil Companies on a local lev
Slide 26: Retail Fueling value creation
26 Retail Fueling value creation Created end-to-end fueling solutions business Extensive portfolio of dispenser and systems products and technology Global footprint to support customers in each world region Execution underway on cost synergies Continuous Improvement initiatives underway
Slide 27: EMV update
27 EMV update Compliance deadline changed YE 2016, delaying EMV deadline by three years to October 2020 Current perspective is that the total revenue opportunity will stay the same at $500M, but with a corresponding delay in EMV deployment and adoption curve – Retailers that decided to go early
Slide 28: Industry's only end-to-end solution
28 Industry‟s only end-to-end solution
Slide 29: Helping customers run their business
29 Helping customers run their business Maximize future flexibility with comprehensive services in the cloud DFS IoT, Cloud & Data Services
Slide 30: Remote monitoring demo – Site Manager
30 Remote monitoring demo – Site Manager 365 Design principles focused on ease of use and exception management. Operators only need to react when they‟re notified of a problem. Real time remote monitoring and control providing site operators complete management of their forecourt
Slide 31: Converged data and solutions create more value for customers
31 Converged data and solutions create more value for customers Industry Dispensers Media Displays Display Cases Low Cost IOT Device DFS IoT Hub • Common Components • Reduced Dev Costs • Scalable Infrastructure • Increased Supportability • Extensible Offerings System/Site Data Pipe DFS Data Services
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Slide 33: Engineered Systems - Andy Fincher
Engineered Systems Andy Fincher June 6, 2017
Slide 34: Engineered Systems
34 Engineered Systems 34 12% 56% 23% 9% Asia North America Europe Rest of World 42% 58% Printing & Identification Industrials Refrigeration & Food Equip. ~$1.6B 2017F Dover Revenue ~$7.7B End-Market 39% 61% Recurring & Replacement Core Products Geography Product Mix Energy ~$1.4B 2017F Revenue by:
Slide 35: Engineered Systems: Growth markets at a glance
35 Engineered Systems: Growth markets at a glance Text Estimated market size $2.0B $3.5B 2017 – 2019 est. market CAGR double- digits Key competitors Digital Printing (MS / JK / Caldera) Environmental Solutions (ESG) $3.0B Vehicle Service Equipment (VSG) 2017F DOV revenues ~$850M <$200M ~$450M ~$525M
Slide 36: Engineered Systems: Growth & Innovation overview
36 Engineered Systems: Growth & Innovation overview Growth driven by technology combined with superior engineered solutions Optimizing best-in-class products and services to stand above the competition Driving productivity with our customers through lowest TCO offering New products and partn
Slide 37: Marking & Coding overview
37 Marking & Coding overview Portfolio Manufacturer of product ID and traceability solutions Offering a full lineup of inkjet, thermal transfer, laser, and print & apply label systems Global reach to over 50,000 customers Inks and Software Coding Inks & Chemicals Software Solutions Product Cod
Slide 38: Market drivers and our strategy
38 Market drivers and our strategy Specific market drivers Middle class growth in emerging countries Increased efficiency via automation, smarter packaging FMCG brands profitability remains under pressure by retailer influence driving efficiency, consolidation and customization efforts Stren
Slide 39: Markem-Imaje line automation services for a leading FMCG customer
39 Markem-Imaje line automation services for a leading FMCG customer Colos middleware ERP Factor y Flo o r E n ter p ris e Scanner Customer challenge: Waste/ downtime from operator error with new work orders Printer Vision Master data work order Solution: SAP connect for zero error coding direct fro
Slide 40: Digital Printing: building an industry leading platform
40 Digital Printing: building an industry leading platform in a highly attractive space Leading position in disruptive technology Trends like fast fashion, customization, sustainability and short cycle times are fundamentally changing how textiles are produced Initial focus on hardware (own le
Slide 41: Expanding the reach of Environmental Solutions
41 Expanding the reach of Environmental Solutions Tailwinds for growth Municipal solid waste growing at a rate of 4.6%, with shrinking landfill capacity Organics have the lowest landfill diversion rate (5 - 20%) and worst environmental impact (methane) Legislative trend to limit organics landf
Slide 42: Leading through data and technology
42 Leading through data and technology Use of Connected Vehicles Rapidly Expanding Accident prevention and resolution and insurance litigation Safety On-board event alerts Automated video monitoring & reporting Object detect, catastrophic event avoidance Driver behavior profiling / modificat
Slide 43: Vehicle Service Equipment: expanding into high growth segments
43 Vehicle Service Equipment: expanding into high growth segments Pre 2016 2016 • Light duty automotive lifts • Heavy duty automotive lifts • Aftermarket parts • Auto collision frame machines • Measuring tools • Anchoring systems • Welding equipment • Vehicle specification data • Automotive lifts •
Slide 44: Margin expansion
44 Margin expansion Continue to drive productivity Expand strategic pricing initiatives Leverage shared services Drive packaged solutions for customers vs. product sales Deliver new product innovation with focus on lowering customer TCO Targeting 150 - 200 bps of margin expansion over the
Slide 45: Digital Printing - Abhi Agrawal
Digital Printing Abhi Agrawal June 6, 2017
Slide 46: Compelling value proposition in Digital Printing
46 Analog Customer KPIs Digital 3 weeks Printing lead time 3 days 50 - 60 l/mtr Environmental (ie. water use) 14 - 20 l/mtr 150dpi Print quality 600dpi Total print cost Analog Digital Compelling value proposition in Digital Printing Printing process PREP PRINT STEAM WASH / FINISH
Slide 47: Digital Printing: Seeing transformative growth
47 Digital Printing: Seeing transformative growth Retailers can react quickly to changes in fashion trends (weeks vs. months) More customized, colorways and complex print designs Enable seamless web-2-fabric type model Allows for a more sustainable and environmentally friendly production F
Slide 48: Our strategy for leading in this space
48 Our strategy for leading in this space Build leadership in core fashion solutions Deploy Dover scale & business model Expand into adjacencies Continued innovation and new product development Optimized total solution – TCO approach Drive further automation in the fashion ecosystem by adding
Slide 49: Digital printing process: comprehensive portfolio of solutions
49 Digital printing process: we have a comprehensive portfolio of solutions Ink Dye Sub Reactive1 Direct Disperse Pigment Printer Substrate Designer Consumer Finishing Steamers Dryers Software Design RIP DFE Web 2 Print Dover offering MIS Workflow Color Mgmt 1 1. Serve and su
Slide 50: Expanding into adjacency: Soft signage
50 Expanding into adjacency: Soft signage What is soft signage? Polyester signs and banners used in a variety of applications: professional events, retail display, banners, flags, etc. Nature of adjacency: Leverages current Dover products, but different market & customer channel Total market o
Slide 51: Many other potential attractive adjacencies
51 Growth data from McKinsey Many other potential attractive adjacencies 2 Flexible packaging 15 - 25% WF Display graphics 4 - 6% Ceramics 4 - 6% Corrugated packaging 25 - 35% Folding cartons 25 - 35% Labels 10 - 20% 5-yr growth rates
Slide 52: Innovation & Training Center
52 Driving analog-to-digital conversion with „state-of-the-art‟ Innovation & Training Center 52 Create awareness of our leadership position & power of our technology & solutions Shape demand at the retail brand level and create “pull” for our products & services Provide facility for demonstrat
Slide 53: Key takeaways
53 Key takeaways 53 Exploiting multiple growth opportunities – Driving digital textile printing conversion – Leading innovation in marking & coding to meet regulatory and industry standards – Leveraging our position to drive organics processing adjacency – Taking advantage of fuel efficiency regul
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Slide 55: Energy - Soma Somasundaram
Energy Soma Somasundaram June 6, 2017
Slide 56: Energy
56 Energy 56 5% 83% 6% 6% Asia North America Europe Rest of World 67% 22% 11% Drilling & Production Bearings & Compression Automation Energy ~$1.4B Engineered Systems ~$2.5B Refrigeration & Food Equip. ~$1.6B Fluids ~$2.3B 2017F Dover Revenue ≈$7.7B 2017F Revenue by: 65% 35% Core Products Recurring
Slide 57: Energy market update
57 Energy market update 57 Drilling & Production Bearings & Compression Automation Permian basin leading the recovery in NA land market with 46% of US rig additions. International markets expected to remain weak in 2017 NA Drilling growth is exceeding rig additions. Completions activity expected
Slide 58: Revenue recovery trend – Drilling, Artificial Lift, Automation
58 Revenue recovery trend – Drilling, Artificial Lift, Automation Revenue recovery rate for drilling, artificial lift and automation product lines have been faster compared to previous cycle - measured from US rig count troughs Note: US rig count bottomed in June 2009 during 2009 cycle and in May 20
Slide 59: Select growth markets at a glance - Energy
59 Select growth markets at a glance - Energy Estimated market size $8.0B $4.0B 2017 – 2019 est. market CAGR Key competitors Drilling & Artificial Lift Bearings & Compression 2017F DOV revenues ~$775M ~$150M high potential growth tied to rig count growth and new well completions Key growth drivers •
Slide 60: Energy: Growth & Innovation overview
60 Energy: Growth & Innovation overview Growth and innovation initiatives – Focused on customer success – Helping to “Maximizing the recovery” Leveraging full suite of aftermarket capabilities to drive lower lifecycle costs for customers Increasing customer stickiness and market share Bearings
Slide 61: The unquestioned leader in drilling technology
61 The unquestioned leader in drilling technology - Solving customer problems in Permian Basin Quantify the Failure • How Often? • How Critical? Drive to Root Cause • Cutter Forensics • Lab Replication Hypothesis Testing • Lab Testing • Field Testing Usable Knowledge Develop New Product High Velocit
Slide 62: Largest artificial lift market in NA basins
62 Largest artificial lift market in NA basins - strong drilling & completions activity Portfolio leverage for well transitions – Technology, well intelligence, service relationships to enhance customer productivity thru transitions Innovations driving customer productivity – New ESPs to handl
Slide 63: Electric Submersible Pumps (ESPs) – Significant source of growth
63 Electric Submersible Pumps (ESPs) – Significant source of growth in recovery Strong ESP demand driven by higher initial production of new wells Fastest growing segment of the artificial lift market Large market with significant opportunities for Dover Investing to support growth – $24 mil
Slide 64: Leveraging suite of capabilities – Driving B&C aftermarket growth
64 Leveraging suite of capabilities – Driving B&C aftermarket growth Integrated Solutions Service & Repair Field Service Parts + + + Leveraging expanded capabilities with B&C platform to drive aftermarket growth & stickiness Driving customer value through simplified supply chain, procurement pro
Slide 65: Margin expansion
65 Margin expansion Intense focus on margin expansion Leverage on revenue growth from market recovery & share gains Cost structure & spending discipline – “Don‟t give up gains” Pricing data analytics – software solution that drives significant granularity to identify and drive pricing improv
Slide 66: Automation - Ali Raza
Automation Ali Raza June 6, 2017
Slide 67: Dover Energy Automation (DEA)
67 Dover Energy Automation (DEA) Edge Computing Analytics Increasing customer focus on efficiency & productivity driving the need for automation in upstream oil & gas Uniquely positioned with customer access, domain expertise & capabilities to capitalize on these trends Expanding partnerships
Slide 68: Automation strategy – Delivering highest value to our customers
68 Automation strategy – Delivering highest value to our customers Providing solutions to solve customer problems around safety, reliability, efficiency and productivity. Expanding our solution across the customer enterprise to become a trusted partner for a broader business value delivery. Cr
Slide 69: Automation – Our competitive advantage
69 Automation – Our competitive advantage Established positions with customers in the applications we participate Well recognized brands by customers – XSPOC, Windrock Significant domain & applications expertise – delivering differentiated & actionable insights for customers Flexible & modul
Slide 70: Wellsite automation – Competitive landscape
70 Dover Comp A Comp B Comp C Comp D Wellsite Monitoring & Diagnostics Wellsite Production Optimization Services Wellsite Environmental & Security Automated Chemical Injection Solution Tank Level Monitoring & Integration Wellsite automation – Competitive landscape Full & comprehensive set of solutio
Slide 71: Partnerships & Advisory Council
71 Partnerships & Advisory Council Business Partners To approach untapped markets Technical Partners To expedite solid product foundation Advisory Council To provide guidance to IIOT journey Continuously expanding our capabilities in markets
Slide 72: Using IIOT platform for wellsite automation
72 Using IIOT platform for wellsite automation
Slide 73: Providing a Next-Generation IIOT solution
73 t Providing a Next-Generation IIOT solution An intuitive tool that presents actionable insights and asset- behavior predictions to optimize output, minimize risk, and reduce unplanned downtime. Remote visibility of real-time metrics on the entire fleet of assets.
Slide 74: Asset integrity management - Automation & IIOT platform
74 Asset integrity management - Automation & IIOT platform VP Sales VP Operations VP BU Asset Reliability CIO Compressor station Production visibility Asset visibility & Analysis Area Station Compressor station Compressor analysis Keep it up & Running Decisions based on Analytics Standard KPIs Asset
Slide 75: Solving real problems
A Solving real problems 1600 “a : COMPRESSORS alla, © = An analytical cycle that needs to be reduced from weeks to REAL TIME. @® ihith gedd
Slide 76: Key takeaways
76 Key takeaways North America land leading the recovery We expect the U.S. market to remain constructive in 2017 and beyond – extension of voluntary production cuts, increasing demand We are aligned with the right customers and well positioned with our portfolio & initiatives to maximize grow
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Slide 78: Refrigeration & Food Equipment - Bill Bosway
Refrigeration & Food Equipment Bill Bosway June 6, 2017
Slide 79: Refrigeration & Food Equipment
79 Refrigeration & Food Equipment 79 The Leader in NA Retail Refrigeration & Food Preparation Technology Systems Engineered Systems ~$2.5B Refrigeration & Food Equip. ~$1.6B Fluids ~$2.3B 2017F Dover Revenue ~$7.7B Energy ~$1.4B 6% 71% 11% 11% Asia North America Europe Rest of World 19% 81% Food E
Slide 80: Select growth markets at a glance – Refrigeration & Food Equipment
80 Select growth markets at a glance – Refrigeration & Food Equipment Estimated market size $6.0B $2.5B $11.0B 2017 – 2019 est. market CAGR Key competitors Retail Refrigeration 2017F DOV revenues ~$300M ~$1.1B ~$225M Food Equipment low-singles mid-singles mid-singles Key growth drivers Heat Transfer
Slide 81: Refrigeration & Food Equipment Markets
81 Refrigeration & Food Equipment Markets 81 Food Retail (Refrigeration & Merchandising) Food Service (Food preparation equipment) Regulations, energy costs, competition and food safety driving investment Shopping cart size is shrinking, driving move to fresh and prepared foods Customers addin
Slide 82: Market trend takeaways
82 Market trend takeaways Grocery stores, Drug stores, and C-store market lines continue to blur – The battle for food dollars will intensify Strong investment in fresh and prepared foods – The perimeter of stores Dry goods space converting to specialty refrigerated and hot foods C-stores ar
Slide 83: Key priorities for Refrigeration & Food Equipment
83 Key priorities for Refrigeration & Food Equipment Strengthen leadership position in fast growing C-store space Work directly with customers to develop unique solutions Broaden our product portfolio & expand relevance in stores Drive food equipment participation in retail Food Service Le
Slide 84: Operations transformation initiative at HillPhoenix case facilities
84 Operations transformation initiative at HillPhoenix case facilities making progress Results Labor productivity & stabilization Material productivity Overhead optimization Metal fabrication capacity Product rationalization initiative Demand shaping with customers Organization upg
Slide 85: Margin improvement
85 Margin improvement Improve performance in case facilities – Optimize flow & transition to door cases – Manage peaks and valleys – demand shaping Value creation – Deliver innovative solutions that create unique & measurable value to customers – Participate in faster growing markets with more r
Slide 86: Optimize our portfolio of merchandising solutions and technologies
86 Optimize our portfolio of merchandising “Solutions” and technologies for customers Shelving solutions Lighting science Refrigeration systems Merchandising solutions Specialty merchandising Glass technologies Zero energy door systems Dynamic pricing systems Smart / IOT connectivity Food preparatio
Slide 87: Steward industry through transition to medium temperature door cases
87 Steward industry through accelerating transition to medium temperature door cases Key Initiatives Continue executing “Close The Case” program Integrate new technologies in NextGen door systems “Zero Energy” frames Hybrid frame technology Vacuum glass Key Drivers Government regulations
Slide 88: Strengthen position in fast growing C-store market
88 Strengthen position in fast growing C-store market Key Drivers Shopper preference for more prepared foods & “Grab And Go” convenience C-stores are making investments to change image & offerings Big Box retailers also moving into smaller formats Key Initiatives New door system technology f
Slide 89: Power Soak's transition to a leader in food preparation solutions
89 Power Soak‟s transition to becoming a leader in food preparation solutions Acquired in 2012 30,000 units installed In 60% of largest chains IP protected technology Strong leadership participation 1987 2015 2016 2012 2017 Pot, Pans, Skewers & Wares Produce washing Deglazing Thaw & Chill
Slide 90: Solving problems in food retail
90 Solving problems in food retail 2015 May – Oct Development 2016 January Allergen Test 2015 November Ecolab Test 2016 March Compliance Test 2016 May Field Test 2016 August 1St Order 72 systems installed in 2016 – 75+ additional in 2017 Problem: Deglazing seafood efficiently & effectively Frozen
Slide 91: Solving problems in food service
91 Solving problems in food service Problem: Expensive process for cutting/washing potatoes (130M lbs/Yr) 2 full-time people using running water in 3-compartment sinks Preparation time 2 hours per batch Results Two hour process reduced to three minutes Water consumption reduced >30% Less p
Slide 92: Investment in innovation - Ideation center at Georgia Tech
92 Investment in innovation - Opening ideation center at Georgia Tech in September 2017 Located in Technology Square – Home of 300+ start-up companies Represents significant investment in innovation (Business, Technology) Focus on new business models, enabling technologies (IOT), advanced manu
Slide 93: Ideation Center + Design Center + Learning Center
93 Ideation Center + Design Center + Learning Center Design Center Store layout creation Merchandising development – Back, middle, perimeter of stores Lighting science to optimize merchandising Learning Center Help our industry adopt new technologies (i.e. Smart cases, door systems, Co2,)
Slide 94: Key takeaways
94 Key takeaways 94 Our market leadership position will continue to grow - “Blurring” end-markets drive stronger demand for our Refrigeration & Food Service equipment - Regulations create opportunities for medium temp. door transition, and CO2 systems - Innovation and technology investments are dr
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