Latest news with #remanufacturing
Forbes
20 hours ago
- Automotive
- Forbes
How Everrati Rebuilds Classic Cars As High-End Electric Vehicles
Everatti re-engineers and rebuilds models such as Porsche 911 into an electric vehicle. U.K.-based Everrati is turning classic internal combustion cars into electric vehicles. Founder and CEO Justin Lunny has a background in tech, including software. But he also has an interest in autos. 'I've been passionate about anything with four wheels,' Lunny said in an interview. He said he got the idea for Everrati in 2018, when Prince Harry and Meghan Markle drove an especially built electric Jaguar following their royal wedding. 'We are a business that takes iconic vehicles and remanufactures them,' Lunny said. 'We're selling the dream.' Depending on model, an Everrati can cost anywhere from about $250,000 to more than $500,000. Everrati offers electric versions of the Land Rover Series IAA, Porsche 911 (964),Mercedes-Benz W11 SL 'Pagoda,' and the GT40, a supercar Ford Motor Co. originally developed to beat Ferrari at the 24 Hours of LeMans in the 1960s. The company begins with a 'donor car,' an original version. Most Everrati customers don't own an original. So, Everrati will acquire one for an additional fee. The donor car 'is stripped back to the chassis,' Lunny said. The donor car also is treated to ensure there's no rust. The donor car 'is rebuilt back up.' Lunny said Everrati engages in thousands of hours of engineering. 'We're really re-engineering that vehicle.' Brakes and suspension systems are upgraded. New audio systems are installed. The cars are equipped with Everrati's proprietary software. Each Everrati takes about a year to build. 'To the outside eye, it looks like a beautifully restored vehicle,' the CEO said. Everrati was founded in 2019, with the first deliveries a few years later. The company doesn't disclose precise sales statistics but Lunny said it has sold between 20 and 30 EVs to date. 'We almost tripled our sales this year from last.' The company has multiple manufacturing centers, including one in the U.S., which handles output of the Porsche cars. 'Things like tariffs are less problematic,' The CEO said. The administration of U.S. President Donald Trump has levied tariffs on an array of products, including vehicles and automotive parts. Tariffs are paid by importers. Everrati's board advisors include Andy Palmer, a former CEO of Aston Martin. The company's models have an obviously high price point. Still, Lunny said there is a market. Everrati is working on additional vehicle programs. 'We're busier than we've ever been,' the CEO said. 'It is a lifestyle proposition.'
RNZ News
09-07-2025
- Business
- RNZ News
Kiwi medical waste company succeeding in Australia but battling Pharmac
Photo: Supplied If you have ever been sitting in a GP's rooms, a hospital emergency department or hospital room you have probably watched as a doctor or nurse opens a sterile packet of something, uses it once, and then bins it. If you had that stuff at home you would probably wash it and use it again - items such as deep vein thrombosis sleeves, patient transfer mattresses and blood pressure cuffs. You would not be the only one wondering about the waste. Now, a Kiwi company has an answer, and is taking more than 50 types of single-use medical devices and giving them a second life. Canterbury-based Medsalv reckons it has so far saved more than half a million devices from landfills across Australia and New Zealand, throughout more than 90 hospitals. It collects the old devices, remanufactures them by inspecting, cleaning, testing and repackaging; and returns them. Along the way it's saving health care providers a lot of money, and creating jobs, many of them for people with barriers to employment. If the whole country got on board, one estimate suggests it could prevent 1700 tonnes of medical waste going to landfills a year - and generate $100 million in savings. But Medsalv has spent years banging its head against Pharmac's doors, and has only just got onto a secondary list (non-contracted) for approved suppliers, saving hospitals having to go through a procurement process. In the meantime the company's work has been whole heartedly embraced by Australia, where Medsalv now has a factory with support and funding from the Victoria state government. Medsalv founder and chief executive Oliver Hunt tells The Detail the process to get in the door with Pharmac has been long and exceptionally difficult. After years of discussions, Pharmac has put the Medsalv's remanufactured medical devices on its new comprehensive list, effective from 1 July, but it still has not made it onto its main contracted list. "So, we are on a list, but we are not on a contracted list. So, the products that we've put through don't have a price next to them, and the next step for us is to get a contract with whoever the contracting entity becomes. "I think it's a step in the right direction, and it's good to show people the value of the products that we're delivering, but there are more steps to happen." Pharmac says having your hospital medical devices in the Hospital Medical Devices List ensures that Health NZ hospitals can consider your products for use in their hospital. Health NZ hospitals can choose which devices they buy from the list without needing to run a primary procurement process. Pharmac also told The Detail that contracts for medical devices are generally evergreen, meaning they don't have an end date. And this helps to secure the best deals, with a wide range of suppliers. It says the latest comprehensive list brings greater transparency to what's used and funded in public hospitals. But haematologist Dr Ruth Spearing, a supporter of Oliver Hunt and Medsalv, tells The Detail, Pharmac's model is "completely wrong". "I look at the amount of waste that goes to the landfill, the amount of money that is wasted, it is just horrendous. And anything, any company which can reduce that wastage and reduce its expenditure should be being supported and not blocked in the way that Pharmac has consistently blocked Oliver's company. It's such a shame. "Pharmac's model is completely wrong in so much as it deals with big international device companies and gives them very long contracts and also gives them contracts with fixed amounts so there's no ability of Health New Zealand to actually become more efficient and decrease purchases because those companies have fixed amounts that they have been contracted to sell by Pharmac to Health New Zealand. "So, the model is completely wrong. And any way to try to break into that model has been seemingly impossible." Hunt, a mechanical engineer, founded Medsalv while completing his master's in engineering management at the University of Canterbury. The social enterprise was his master's project. He says the reprocessing of used single-use devices is meticulous. Every item is collected after use, then cleaned, tested, and sterilised to internationally recognised standards. If anything doesn't pass inspection, it's binned; broken apart into individual materials and recycled where possible. Hunt says the remanufactured devices come back at a lower cost, "we provide employment for people facing barriers to employment in the process, there's less emissions, less waste... we create some quite significant benefits for the health system and for the hospitals." He says it is about using innovation to stretch the health dollar. Dr Ruth Spearing says New Zealand needs to be "supporting these companies, we need to be supporting innovation, and we need to be supporting people like Oliver who are making a difference. It really is a win-win-win company." Check out how to listen to and fol low The Detail here . You can also stay up-to-date by liking us on Facebook or following us on Twitter .
CTV News
09-07-2025
- Business
- CTV News
120 Toromont workers hit the picket lines in Bradford as 1st collective agreement talks stall
Toromont Cat, a brand new remanufacturing facility in Bradford helps take near end-of-life Caterpillar machine parts and refurbishes them for future use on may 27, 2025. (CTV News/Luke Simard) More than 100 employees with a remanufacturing company in Bradford hit the picket lines Tuesday after contract talks stalled. Unifor members are bargaining their first collective agreement and say the Toromont Industries has failed to address issues surrounding wages and benefits to secure a deal. In a statement, Toromont CFO John Doolittle said the company respects employees rights to collectively bargain and their prerogative to strike. Doolittle said the company has been working for months to align with the union for an equitable collective agreement, adding an offer, which he described as 'fair,' was presented to the union. "The union decided not to present the offer to union members and proceeded with a strike," the statement reads. 'It is our hope that this matter can be resolved as soon as possible. We remain ready to resume negotiations.' The Bradford remanufacturing plant helps refurbish old Caterpillar machine parts for future use. Unifor is the largest private sector union in Canada, with more than 320,000 members across the country.
RNZ News
09-07-2025
- Business
- RNZ News
A win-win-win over medical waste
Photo: Supplied If you have ever been sitting in a GP's rooms, a hospital emergency department or hospital room you have probably watched as a doctor or nurse opens a sterile packet of something, uses it once, and then bins it. If you had that stuff at home you would probably wash it and use it again - items such as deep vein thrombosis sleeves, patient transfer mattresses and blood pressure cuffs. You would not be the only one wondering about the waste. Now, a Kiwi company has an answer, and is taking more than 50 types of single-use medical devices and giving them a second life. Canterbury-based Medsalv reckons it has so far saved more than half a million devices from landfills across Australia and New Zealand, throughout more than 90 hospitals. It collects the old devices, remanufactures them by inspecting, cleaning, testing and repackaging; and returns them. Along the way it's saving health care providers a lot of money, and creating jobs, many of them for people with barriers to employment. If the whole country got on board, one estimate suggests it could prevent 1700 tonnes of medical waste going to landfills a year - and generate $100 million in savings. But Medsalv has spent years banging its head against Pharmac's doors, and has only just got onto a secondary list (non-contracted) for approved suppliers, saving hospitals having to go through a procurement process. In the meantime the company's work has been whole heartedly embraced by Australia, where Medsalv now has a factory with support and funding from the Victoria state government. Medsalv founder and chief executive Oliver Hunt tells The Detail the process to get in the door with Pharmac has been long and exceptionally difficult. After years of discussions, Pharmac has put the Medsalv's remanufactured medical devices on its new comprehensive list, effective from 1 July, but it still has not made it onto its main contracted list. "So, we are on a list, but we are not on a contracted list. So, the products that we've put through don't have a price next to them, and the next step for us is to get a contract with whoever the contracting entity becomes. "I think it's a step in the right direction, and it's good to show people the value of the products that we're delivering, but there are more steps to happen." Pharmac says having your hospital medical devices in the Hospital Medical Devices List ensures that Health NZ hospitals can consider your products for use in their hospital. Health NZ hospitals can choose which devices they buy from the list without needing to run a primary procurement process. Pharmac also told The Detail that contracts for medical devices are generally evergreen, meaning they don't have an end date. And this helps to secure the best deals, with a wide range of suppliers. It says the latest comprehensive list brings greater transparency to what's used and funded in public hospitals. But haematologist Dr Ruth Spearing, a supporter of Oliver Hunt and Medsalv, tells The Detail, Pharmac's model is "completely wrong". "I look at the amount of waste that goes to the landfill, the amount of money that is wasted, it is just horrendous. And anything, any company which can reduce that wastage and reduce its expenditure should be being supported and not blocked in the way that Pharmac has consistently blocked Oliver's company. It's such a shame. "Pharmac's model is completely wrong in so much as it deals with big international device companies and gives them very long contracts and also gives them contracts with fixed amounts so there's no ability of Health New Zealand to actually become more efficient and decrease purchases because those companies have fixed amounts that they have been contracted to sell by Pharmac to Health New Zealand. "So, the model is completely wrong. And any way to try to break into that model has been seemingly impossible." Hunt, a mechanical engineer, founded Medsalv while completing his master's in engineering management at the University of Canterbury. The social enterprise was his master's project. He says the reprocessing of used single-use devices is meticulous. Every item is collected after use, then cleaned, tested, and sterilised to internationally recognised standards. If anything doesn't pass inspection, it's binned; broken apart into individual materials and recycled where possible. Hunt says the remanufactured devices come back at a lower cost, "we provide employment for people facing barriers to employment in the process, there's less emissions, less waste... we create some quite significant benefits for the health system and for the hospitals." He says it is about using innovation to stretch the health dollar. Dr Ruth Spearing says New Zealand needs to be "supporting these companies, we need to be supporting innovation, and we need to be supporting people like Oliver who are making a difference. It really is a win-win-win company." Check out how to listen to and fol low The Detail here . You can also stay up-to-date by liking us on Facebook or following us on Twitter .
Associated Press
26-06-2025
- Automotive
- Associated Press
Swanson Industries Acquires the Off-Highway Business of TransAxle
MORGANTOWN, WIRE)--Jun 26, 2025-- Swanson Industries, Inc. ('Swanson'), a portfolio company of Turnspire Capital Partners LLC ('Turnspire'), announced today that it has acquired the Off-Highway Business (the 'Off-Highway Business') of TransAxle Holdings, LLC. The Off-Highway Business is a premier U.S.-based remanufacturer of transmissions, differentials, hydraulics, axles and brake systems, and related industrial products for numerous off-highway verticals. Over its 46-year history, the Off-Highway Business has built a reputation for delivering unparalleled capabilities, quality, and service. From locations in Pennsauken, New Jersey and Garner, North Carolina, it serves a diverse array of customers across the hard rock mining, metals, construction, aerospace, and marine sectors, among others. The Off-Highway Business will be re-branded as the Swanson Off-Highway division. Swanson will provide the division with substantial additional capacity and resources, supporting its continued growth through expanded capabilities and enhanced service offerings. 'Our strategic acquisition of the Off-Highway Business will enable us to capitalize on many overlaps and potential synergies between our offerings, customers and end markets,' said David Brightbill, CEO of Swanson. 'The Off-Highway Business has developed a truly differentiated breadth of technical expertise and a strong reputation in its end markets. We are very excited to welcome the Off-Highway Business' talented employees and to work together to further strengthen Swanson's leading market position by expanding our reach and capabilities.' Freshfields LLP served as legal counsel to Swanson in the transaction. About Swanson Industries Swanson Industries is a premier provider of manufacturing, remanufacturing, repair, and distribution services of mining equipment, hydraulic cylinders, and related industrial equipment across the United States. Headquartered in Morgantown, West Virginia, Swanson has established a strong presence in the mining and heavy industry sectors. Swanson has a reputation for delivering the highest-quality products and unparalleled technical expertise, enhancing the long-term safety and efficiency of its customers' operations. Since June 2024, Swanson has been owned by Turnspire Capital Partners. About Turnspire Capital Partners Turnspire Capital Partners invests in high-quality businesses that have reached strategic, financial or operational inflection points and stand to benefit from our hands-on, operationally focused approach. Turnspire's investment philosophy is predicated on creating value through operational improvements rather than through financial leverage. Turnspire strives to make each of its portfolio companies best-in-class in their respective industry niche, and then to grow the businesses through organic initiatives or strategic acquisitions. For additional information, please visit View source version on CONTACT: Mark Semer Gasthalter & Co. (212) 257-4170 [email protected] KEYWORD: UNITED STATES NORTH AMERICA WEST VIRGINIA INDUSTRY KEYWORD: MACHINERY NATURAL RESOURCES MANUFACTURING MINING/MINERALS SOURCE: Swanson Industries, Inc. Copyright Business Wire 2025. PUB: 06/26/2025 07:30 AM/DISC: 06/26/2025 07:29 AM
