NORDSON CORP (NDSN)

Nordson Corporation is an Ohio-incorporated (1954), Westlake, Ohio-headquartered precision technology company that engineers, manufactures and markets differentiated products and systems for precision dispensing, applying and controlling adhesives, coatings, polymers, sealants, biomaterials and other fluids, as well as testing, inspecting, treating and curing surfaces and medical products such as catheters, cannulas, medical balloons and tubing. The company serves diverse consumer non-durable, consumer durable and technology end markets including packaging, electronics, medical, appliances, energy, transportation, precision agriculture, and building and construction, supported by extensive application expertise and a direct global sales and service network spanning more than 35 countries; approximately 66% of 2023 revenues were generated outside the United States, and the company employs roughly 7,900 people worldwide, with principal manufacturing facilities in the U.S., China, Germany, Ireland, Israel, Italy, Mexico, the Netherlands and the U.K. In August 2023, Nordson acquired ARAG Group, a leader in precision agriculture spraying solutions (fluid components, smart components and control systems), funded through a €760 million 364-Day Term Loan Facility and revolving credit borrowings, with ARAG now operating within the Industrial Precision Solutions segment. The company's growth strategy, branded "Ascend," centers on the NBS Next growth framework, an Owner Mindset organizational structure, and a Winning Teams talent strategy, driving both organic growth (via new products, customer service, and geographic expansion) and acquisitions that diversify end markets and expand solution offerings.

Nordson operates through three segments: Industrial Precision Solutions (industrial coatings, measurement and control solutions, nonwovens, packaging, polymer processing, precision agriculture, and product assembly), Medical and Fluid Solutions (medical device components and fluid management products for medical, industrial and animal health markets), and Advanced Technology Solutions (electronics systems and test/inspection technologies for semiconductor and electronics manufacturing). The company relies on multiple raw material and component suppliers, maintains a large intellectual property portfolio (over 2,100 patents and 1,000+ trademarks), and emphasizes compliance with trade, data privacy, and environmental regulations. Nordson also highlights significant community investment, contributing approximately 5% of domestic pretax earnings to charitable causes and maintaining robust human capital programs, including retirement benefits, wellness initiatives, and diversity and inclusion efforts, with about 115 unionized employees at its Amherst, Ohio facility under a collective bargaining agreement expiring in 2025.