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NEW YORK, Dec. 14, 2020 /PRNewswire/ — The Jordan Company L.P. (“TJC”) announced that one of its affiliates has closed the previously announced acquisition of Potters Industries, LLC (“Potters”), the Performance Materials segment of publicly traded PQ Group Holdings, Inc. (“PQ”, NYSE: PQG).

Operating out of a broad network of 28 production facilities, Potters is a global manufacturer of engineered glass materials and a leader in highway safety. Led by President & CEO Scott Randolph with more than 30 years of industry experience, Potters is well positioned for future growth as a standalone company.

“We are very excited to have TJC as our new partner,” said Scott Randolph. “With TJC’s support, we look forward to continuing to expand our business through both organic initiatives and selective acquisitions which will further broaden our offering to our customers. We greatly appreciate the support we’ve received from PQ, and we thank them for their guidance through the years.”

“TJC is thrilled to have identified a world-class platform and management team and we look forward to investing in the future growth of Potters,” stated Ian Arons, Partner at TJC.

Kirkland & Ellis LLP served as legal counsel and Barclays Capital, Inc. served as financial advisor to TJC. Goldman Sachs & Co. LLC and Harris Williams LLC served as financial advisors and Ropes & Gray LLP served as legal counsel to PQ. 

About The Jordan Company, L.P.

TJC, founded in 1982, is a middle-market private equity firm with original capital commitments in excess of $13 billion. TJC has a 38-year track record of investing in and contributing to the growth of many businesses across a wide range of industries, including Industrials; Transportation & Logistics; Healthcare & Consumer; and Telecom, Technology & Utility. The senior investment team has been investing together for over 20 years and is supported by its Operations Management Group, established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, TJC also has an office in Chicago. For more information, please visit https://www.thejordancompany.com/.

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SOURCE The Jordan Company, L.P.

REDWOOD CITY, Calif., Dec. 14, 2020 /PRNewswire/ — Nevro Corp. (NYSE: NVRO), a global medical device company that is providing innovative, evidence-based solutions for the treatment of chronic pain, today announced that, in its patent litigation against Boston Scientific, the parties agreed to the dismissal of the patent case filed by Nevro in the Northern District of California relating to high frequency paresthesia-free SCS therapy.  The official dismissal of the case is subject to the approval of the court. 

In July 2018, on the basis of the statements made by Boston Scientific to the California court, in which it assured the court that it did not have any imminent plans to commercially launch a high frequency spinal cord stimulation system delivering therapy at frequencies between 1.5 kHz and 100 kHz, the parties agreed to dismissal of Nevro’s declaratory judgment claims.  Nevro then proceeded to appeal the California court’s ruling of invalidity, with regard to certain of Nevro’s claims, to the U.S. Court of Appeals for the Federal Circuit.  In April 2020, the Federal Circuit issued a ruling in Nevro’s favor, and vacated and remanded the California court’s judgment of invalidity.  Because Boston Scientific still does not have any current plans to commercially launch a high frequency SCS system in the United States, the parties agreed to dismiss all remaining claims in the California case.

The parties will continue their ongoing patent cases in the District of Delaware and at the Patent Office relating to patents for other spinal cord stimulation technologies unrelated to high frequency therapy.

Documents relating to the lawsuit are available via the courts’ websites at http://www.cafc.uscourts.gov/opinions-orders and www.cand.uscourts.gov.  The district court case no. is 3:16-cv-06830.

Internet Posting of Information

Nevro routinely posts information that may be important to investors in the “Investor Relations” section of its website at www.nevro.com.  The company encourages investors and potential investors to consult the Nevro website regularly for important information about Nevro.

About Nevro Corp. 

Headquartered in Redwood City, California, Nevro is a global medical device company focused on providing innovative products that improve the quality of life of patients suffering from debilitating chronic pain. Nevro has developed and commercialized the Senza spinal cord stimulation (SCS) system, an evidence-based, non-pharmacologic neuromodulation platform for the treatment of chronic pain. HF10 therapy has demonstrated the ability to reduce or eliminate opioids in ≥65% of patients across six peer-reviewed clinical studies. The Senza^® System, Senza II™ System, and the Senza^® Omnia™ System are the only SCS systems that deliver Nevro’s proprietary HF10^® therapy. Senza, Senza II, Senza Omnia, HF10, Nevro and the Nevro logo are trademarks of Nevro Corp.

To learn more about Nevro, connect with us on LinkedIn, Twitter, Facebook and Instagram.

Investors and Media:

Julie Dewey, IRC
Nevro Corp.
Vice President, Investor Relations & Corp Communications
650-433-3247  |  [email protected] 

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SOURCE Nevro Corp.

TORONTO, Dec. 14, 2020 /PRNewswire/ – Norbord Inc. (TSX and NYSE: OSB) today announced that in response to increased customer demand the Company intends to restart production at its oriented strand board (OSB) mill in Chambord, Quebec in spring 2021.

Based on strong North American OSB demand forecasts and indications from customers for the foreseeable future, Norbord anticipates it will be unable to meet demand from its currently operating mills. Following the adoption of its flexible operating strategy earlier in the year and offsetting the recent loss of capacity from the permanent closure of its 100 Mile House, British Columbia mill, Norbord intends to complete the preparatory work that will allow production to restart at the Chambord mill. The remaining work includes completing equipment installation and commissioning the mill as well as employee recruitment.

“Norbord acquired the Chambord mill in 2016 with the intention to one day return it to production, and we are pleased that conditions now allow us to do just that,” said Peter Wijnbergen, Norbord’s President & CEO. “The mill is well aligned with our business strategy and is well situated for sales into the northeast region. We have made significant investments and upgrades to position it as an important part of our portfolio, and the Chambord mill will be a meaningful contributor to our ability to meet our customers’ needs. The Saguenay-Lac-St-Jean region has a rich wood products history, and we look forward to becoming a more significant part of this community.”

The restart of the Chambord mill will enable Norbord to optimize production at its two Quebec mills and to more effectively serve customers in eastern Canada and the northeastern US. The Company is targeting to commence production at Chambord in the spring of 2021, followed by a typical start-up curve. Chambord production will be able to substitute for products at the Company’s other mills, further bolstering Norbord’s flexible operating strategy. This flexible operating strategy, which has been employed since the early days of the COVID-19 pandemic, now gives Norbord the ability to cost-effectively adjust production across its mill portfolio to more than offset the production from the Chambord mill if demand proves to be lower than expected. Therefore, should demand decline, production schedules across Norbord’s platform will be able to be adjusted quickly and cost-efficiently. After significant re-investment and with a strong available labour force and committed wood supply in the region, the Chambord mill is expected to be among the Company’s lowest cost operations once fully ramped up.

Since Norbord acquired the mill in 2016, it has invested approximately $54 million (C $71 million) as at the end of the third quarter of 2020 to prepare the mill for eventual restart. In total, Norbord expects to invest approximately $71 million (C $94 million).

Norbord has a wood allocation agreement in place with the Quebec Ministry of Forests, Wildlife and Parks covering the vast majority of the mill’s anticipated fibre requirements. Chambord is located in the biggest timber-producing region in Quebec, and the Company expects to fill its remaining fibre needs from private sources.

When fully operational, Norbord expects Chambord to employ approximately 120 people.  The Chambord mill has a total stated annual production capacity of 550 million square feet (3/8-inch basis) and has been curtailed since 2008.

Norbord Profile

Norbord Inc. is a leading global manufacturer of wood-based panels and the world’s largest producer of oriented strand board (OSB). In addition to OSB, Norbord manufactures particleboard, medium density fibreboard and related value-added products. Norbord has assets of approximately $2.1 billion and employs approximately 2,400 people at 17 plant locations (15 operating) in the United States, Canada and Europe. Norbord is a publicly traded company listed on the Toronto Stock Exchange and New York Stock Exchange under the symbol “OSB”.

This news release contains forward-looking statements, as defined by applicable securities legislation, including statements related to the Company’s strategy, projects, plans, future financial or operating performance and other statements that express management’s expectations or estimates of future performance. Often, but not always, forward-looking statements can be identified by the use of words such as “set up,” “on track,” “expect,” “estimate,” “forecast,” “target,” “outlook,” “schedule,” “represent,” “continue,” “intend,” “should,” “would,” “could,” “will,” “can,” “might,” “may,” and other expressions which are predictions of or indicate future events, trends or prospects and which do not relate to historical matters identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Norbord to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

Although Norbord believes it has a reasonable basis for making these forward-looking statements, readers are cautioned not to place undue reliance on such forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, which contribute to the possibility that the predictions, forecasts and other forward-looking statements will not occur. These factors include, but are not limited to: (1) developments related to COVID-19 or any other plague, epidemic, pandemic, outbreak of infectious disease or any other public health crisis, including health and safety measures instituted to protect the Company’s employees, government-imposed restrictions or other restrictions that may apply to the Company’s employees and/or operations (including quarantine), the impact on customer demand, supply and distribution and other factors; (2) assumptions in connection with the economic and financial conditions in the US, Europe, Canada and globally; (3) risks inherent to product concentration and cyclicality; (4) effects of competition and product pricing pressures; (5) risks inherent to customer dependence; (6) effects of variations in the price and availability of manufacturing inputs, including continued access to fibre resources at competitive prices and the impact of third-party certification standards; (7) availability of transportation services, including truck and rail services, and port facilities; (8) various events that could disrupt operations, including natural, man-made or catastrophic events and ongoing relations with employees; (9) impact of changes to, or non-compliance with, environmental or other regulations; (10) government restrictions, standards or regulations intended to reduce greenhouse gas emissions; (11) impact of weather and climate change on Norbord’s operations or the operations or demand of its suppliers and customers; (12) impact of any product liability claims in excess of insurance coverage; (13) risks inherent to a capital intensive industry; (14) impact of future outcomes of tax exposures; (15) potential future changes in tax laws, including tax rates; (16) effects of currency exposures and exchange rate fluctuations; (17) future operating costs; (18) availability of financing, bank lines, securitization programs and/or other means of liquidity; (19) impact of future cross-border trade rulings or agreements; (20) implementation of important strategic initiatives and identification, completion and integration of acquisitions; (21) ability to implement new or upgraded information technology infrastructure; (22) impact of information technology service disruptions or failures; and (23) changes in government policy and regulation.

The above list of important factors affecting forward-looking information is not exhaustive. Additional factors are noted elsewhere, and reference should be made to the other risks discussed in filings with Canadian and US securities regulatory authorities. Except as required by applicable law, Norbord does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by, or on behalf of, the Company, whether as a result of new information, future events or otherwise, or to publicly update or revise the above list of factors affecting this information. See the “Forward-Looking Statements” section in the February 4, 2020 Annual Information Form and the cautionary statement contained in the “Forward-Looking Statements” section of
 
the 2019 Management’s Discussion and Analysis dated February 4, 2020 and Q3 2020 Management’s Discussion and Analysis dated November 4, 2020.

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SOURCE Norbord Inc.

NEW YORK, Dec. 14, 2020 /PRNewswire/ — Foot Locker, Inc. (NYSE: FL), the New York-based specialty athletic retailer, today announced the appointment of Himanshu Parikh as Senior Vice President, Chief Information Officer, effective December 11, 2020.

Parikh will oversee the execution of the next generation of Foot Locker’s strategic technology agenda in support of the Company’s key strategic imperatives and future capability-building and innovation. Parikh will have operational responsibility for the Company’s technology and infrastructure, and he will work closely with the senior executive team to streamline processes as well as evaluate and implement new and integrated systems and tools across the organization critical to the Company’s omni-channel initiatives.

“I am pleased to welcome Himanshu to the Foot Locker team as we continue to move ahead with our strategic technology agenda,” said Richard Johnson, Chairman and Chief Executive Officer. “Over the last several years, Foot Locker has made tremendous progress in leveraging data and technology to drive customer connections and convenience, support the growth of our loyalty program and build a customer-driven supply chain. We recognize the vital importance that technological leadership plays in our continued success. Himanshu has a proven track record in tech-driven transformation to drive business agility, competitive differentiation, and efficiencies. I am confident that his deep expertise and breadth of experience leading Digital, Omni-Channel, Enterprise Resource Planning, and Information Security functions will be strong assets as we continue to advance our technology projects and investments to evolve as a fully-integrated omni-channel company.”

Parikh is an accomplished technology leader with over 25 years of experience in strategic planning, business solutions and organizational development for top-tier retail companies. He is an expert in leveraging modern technology and data to drive a customer-centric connected retail experience. Most recently, he served as SVP, Chief Technology Officer at The Michaels Companies, Inc. During his five years at Michaels, Himanshu drove technology and customer-centric transformation, including overseeing Digital Commerce, Marketing/CRM, Data & Analytics and Loyalty, as well as the expansion of its omni-channel commerce and Supply Chain growth. Prior to joining Michaels, Parikh held several executive roles with Ross Stores, leading teams that developed modern web and mobile applications, IT investment plans, roadmaps, technology standards, and governance of new technology. He has also been recognized for his work with the Oracle Excellence and Oracle Innovation awards. Parikh holds a Bachelor of Science degree in Electrical Engineering from M.S. University, Vadodara, India.

“I’m excited to join the Foot Locker team in continuing to enhance the technology capabilities that support the Company’s leadership in celebrating sneaker and youth culture around the globe,” said Parikh. “I look forward to working closely with Dick and the rest of the Foot Locker team, leveraging my technology expertise and retail experience to meet and exceed the evolving expectations of our customers, while also providing the right tools and technology for our team members.”

Foot Locker, Inc. leads the celebration of sneaker and youth culture around the globe through a portfolio of brands including Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Eastbay, Footaction, and Sidestep. With approximately 3,000 retail stores in 28 countries across North America, Europe, Asia, Australia and New Zealand, as well as websites and mobile apps, the Company’s purpose is to inspire and empower youth around the world, by fueling a shared passion for self-expression and creating unrivaled experiences at the heart of the global sneaker community. Foot Locker, Inc. has its corporate headquarters in New York.

Investor Contact:   
James R. Lance
Vice President, Corporate Finance and Investor Relations
[email protected]  
(212) 720-4600

Media Contact:     
Cara Tocci
Vice President, Corporate Communications         
[email protected]
(914) 582-0304

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SOURCE Foot Locker, Inc.

ATLANTA, Dec. 14, 2020 /PRNewswire/ — Rollins, Inc. (NYSE:ROL), a premier global consumer and commercial services company, announced the election of Susan Bell, to the Board of Directors, effective January 1, 2021. Bell will succeed Bill Dismuke, whose retirement was announced earlier this year.

Bell recently retired from Ernst and Young LLP (EY) after a 36-year career in public accounting, serving in a variety of leadership roles. She served clients as an audit and business advisory partner and led EY’s Southeast risk advisory practice, served as Atlanta Office Managing Partner for eight years, and led the power and utilities sector focus in EY’s financial accounting advisory services practice.

Bell is a Certified Public Accountant and qualifies as a “financial expert” for US Securities and Exchange Commission public companies. She has significant experience with audit committees and boards, having participated in public and private company audit committee and board meetings as external auditor, internal audit and enterprise risk advisor, engagement quality or senior relationship partner, and serves as a nonprofit board member. Her competencies include technical accounting (US GAAP and IFRS); controls and compliance; enterprise risk management and internal audit; M&A and capital markets transactions; financial systems implementations; sustainability reporting; and diversity, equity, and inclusion programs and practices.  

Gary W. Rollins stated, “we are very pleased to welcome Susan to our Board. Her financial expertise and diverse experience will be invaluable to help shape Rollins’ future.”  

Rollins, Inc. is a premier global consumer and commercial services company.  Through its family of leading brands, Orkin, HomeTeam Pest Defense, Clark Pest Control, Orkin Canada, Western Pest Services, Northwest Exterminating, Critter Control, The Industrial Fumigant Company, Trutech, Orkin Australia, Waltham Services, OPC Services, PermaTreat, Rollins UK, Aardwolf Pestkare, and Crane Pest Control, the Company provides essential pest control services and protection against termite damage, rodents and insects to more than two million customers in North America, South America, Europe, Asia, Africa, and Australia from more than 700 locations. You can learn more about Rollins and its subsidiaries by visiting our web sites at www.orkin.com, www.pestdefense.com, www.clarkpest.com, www.orkincanada.ca, www.westernpest.com, www.callnorthwest.com,  www.crittercontrol.com, www.indfumco.com, www.trutechinc.com, www.orkinau.com, www.walthamservices.com, www.opcpest.com, www.permatreat.com, www.safeguardpestcontrol.co.uk, www.aardwolfpestkare.com,  www.cranepestcontrol.com and www.rollins.com. You can also find this and other news releases at www.rollins.com by accessing the news releases button.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS


This release contains statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include the CEO’s belief that Susan Bell’s financial expertise and diverse experience will be invaluable to help shape the Company’s future. The actual results of the Company could differ materially from those indicated by the forward-looking statements because of various risks and uncertainties, including without limitation, the coronavirus (COVID-19) pandemic, the potential impact on global economic conditions and on capital and financial markets, changes in consumer behavior and demand, the potential unavailability of personnel or key facilities, modifications to the Company’s operations, and the potential implementation of regulatory actions; economic and competitive conditions which may adversely affect the Company’s business; the degree of success of the Company’s pest and termite process, and pest control selling and treatment methods; the Company’s ability to identify and integrate potential acquisitions; climate and weather trends; competitive factors and pricing practices; the Company’s ability to attract and retain skilled workers, and potential increases in labor costs; uncertainties of litigation; changes in various government laws and regulations, including environmental regulations; and the impact of the U. S. Government shutdown.  All of the foregoing risks and uncertainties are beyond the ability of the Company to control, and in many cases the Company cannot predict the risks and uncertainties that could cause its actual results to differ materially from those indicated by the forward-looking statements.  A more detailed discussion of potential risks facing the Company can be found in the Company’s Report on Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 2019 and the Company’s Report on Form 10-Q filed with the Securities and Exchange Commission for the quarter ended September 30, 2020.

For Further Information Contact
Eddie Northen (404) 888-2242

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SOURCE Rollins, Inc.

DUBLIN, Dec. 14, 2020 /PRNewswire/ — Medtronic plc (NYSE:MDT) announced today that Sean Salmon, Executive Vice President and President, Diabetes Operating Unit has been named Executive Vice President and President, Cardiovascular Portfolio effective January 1. Salmon will also continue to lead the Diabetes Operating Unit and continue to serve on the company’s Executive Committee. He succeeds Mike Coyle, who will leave Medtronic effective December 31 to accept a CEO role of a publicly traded company.

“We owe Mike a debt of gratitude for his significant contributions to Medtronic,” said Geoff Martha, Medtronic Chairman and Chief Executive Officer. “He’s played a vital role in our Cardiovascular portfolio, including overseeing the development and launches of numerous disruptive and life-saving technologies. On behalf of the Board, I would like to thank Mike for his leadership and wish him every success.”

“With 17 years leading several Medtronic business units, Sean is a highly respected leader both inside and outside of the company, with a proven track record of building and leading high-performing teams. I am confident in his ability to continue the turnaround of our Diabetes business, while ensuring continued growth and therapy adoption in our Cardiovascular portfolio,” said Martha.

Salmon joined Medtronic in 2004 and spent 15 years in increasingly senior management roles within Cardiovascular, including leading the Coronary and Renal Denervation, Peripheral, Cardiac Surgery, and Structural Heart businesses, before being named the leader of Medtronic Diabetes and a member of the Medtronic Executive Committee in 2019. While in Cardiovascular, he led Medtronic to leadership in drug-eluting stents, commercialized multiple product innovations in transcatheter aortic valve replacement (TAVR), and revitalized Medtronic’s renal denervation clinical program.

Salmon will continue his role leading the Diabetes turnaround and his role working closely with the other portfolio leaders and members of the Executive Committee on enterprise-level strategy and value creation under Medtronic’s new operating model. With his new additional Cardiovascular responsibilities, Salmon will oversee the Cardiovascular operating units, ensuring appropriate capital allocation to optimize Medtronic’s growth and profitability, overall business performance, and innovation designed to drive continued market expansion and increased share.

“I want to thank Geoff and the Board for this opportunity, which allows me to have an even greater impact on improving more patients’ lives,” said Salmon. “Over the past year, we’ve taken a number of bold steps to improve our Diabetes performance and competitiveness, including the appointment of a new leadership team, accelerating R&D investment, entering the smart pen market, and making significant progress on our customer-centric pipeline of products and services. Completing the turnaround in Diabetes remains a high priority for me. And, I’m excited to reunite and work with the exceptionally talented leaders of our Cardiovascular operating units as we continue the momentum behind Mike’s vision of growth and innovation to deliver meaningful and life-enhancing cardiovascular technologies.”

About Medtronic
 
Medtronic plc (www.medtronic.com), headquartered in Dublin, Ireland, is among the world’s largest medical technology, services and solutions companies – alleviating pain, restoring health and extending life for millions of people around the world. Medtronic employs more than 90,000 people worldwide, serving physicians, hospitals and patients in more than 150 countries. The company is focused on collaborating with stakeholders around the world to take healthcare Further, Together.

Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic’s periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.

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SOURCE Medtronic plc