Lindsay Stock

Lindsay Corporation (Lindsay), along with its subsidiaries, operates as a global leader in providing a variety of proprietary water management and road infrastructure products and services.

The company engages in the manufacture and distribution of agricultural irrigation equipment. The company is an international water efficiency solutions and highway infrastructure firm with worldwide sales and distribution.

Segments

The company operates through two segments, Irrigation and Infrastructure.

Irrigation

This segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used principally in the agricultural industry to increase or stabilize crop production while conserving water, energy, and labor. The Irrigation segment also manufactures and markets repair and replacement parts for its irrigation systems and controls and large diameter steel tubing. The company continues to strengthen irrigation product offerings through innovative technology, such as Global Positioning System (GPS) positioning and guidance, variable rate irrigation, wireless irrigation management, irrigation scheduling, Industrial Internet of Things (IIOT) technology solutions, and mobile device applications.

The company's primary domestic irrigation manufacturing facilities are located in Lindsay, Nebraska; Olathe, Kansas; and Norfolk, Nebraska. Internationally, the company has production operations in Brazil, France, China, Turkey, and South Africa, as well as distribution and sales operations in the Netherlands, Egypt, Australia, and New Zealand. The company also exports equipment from the U.S. and its global production facilities to other international markets.

Products

The company manufactures and markets its center pivot, lateral move irrigation systems, and irrigation controls in the U.S. and internationally under its Zimmatic brand. The company also manufactures and markets hose reel travelers under the Perrot brand. The company also produces or markets chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems. In addition to whole systems, the company manufactures and markets repair and replacement parts for its irrigation systems and controls and large diameter steel tubing. Furthermore, the company designs and manufactures innovative IIOT technology solutions, data acquisition and management systems, and custom electronic equipment for critical applications under its Elecsys brand.

The company's irrigation systems are primarily of the standard center pivot type, with a small portion of its products consisting of the lateral move type. Both are automatic move systems consisting of sprinklers mounted on a water carrying pipeline, which is supported approximately 11 feet off the ground by a truss system suspended between moving towers.

A standard center pivot in the U.S. is typically seven spans and approximately 1,300 feet long and is designed to circle within a quarter-section of land, which comprises 160 acres, wherein it irrigates approximately 125 to 130 acres. A center pivot or lateral move system can also be custom designed and can irrigate from 25 to 600+ acres.

The company's center pivot and lateral move irrigation systems can be enhanced with a family of integrated proprietary products, such as GPS monitoring and other automated controls. The company also manufactures and distributes hose reel travelers.

The company also markets proprietary remote monitoring and automation technology that works on any brand of electronic pivot and drip irrigation systems and is sold on a subscription basis under the brand names FieldNET and FieldWise. FieldNET is commercialized exclusively through Zimmatic dealers while FieldWise is used primarily by non-Zimmatic dealers and customers. These technologies enable growers to remotely monitor and operate irrigation equipment, saving time, and reducing water and energy consumption. The technology uses cellular or radio frequency communication systems to remotely acquire data relating to various conditions in an irrigated field, including operational status of the irrigation system, position of the irrigation system, water usage, weather and soil conditions, and similar data. The system can remotely control the irrigation system, altering the speed to vary water application amounts, and controlling pump station and diesel generator operation. Data management and control is achieved using applications running on various personal computer or mobile devices connected to the internet.

The company also markets patented technology under the FieldNET Advisor product name, which delivers information that helps farmers decide precisely when, where and how much to irrigate. This technology combines crop and irrigation science and expertise accumulated with FieldNET's cloud computing capabilities, remote sensing functionality and machine learning to provide farmers with field-specific and crop-specific irrigation recommendations.

Markets

The United States Market - In the United States, the company sells its branded irrigation systems, including Zimmatic, to over 200 independent dealers, who resell to their customer, the farmer. Dealers assess their customers' requirements, design the most efficient solution, assemble and erect the system in the field, and provide additional system components, primarily relating to water supply (wells, pumps, and pipes) and electrical supply (on-site generation or hook-up to power lines). Lindsay dealers generally are established local agribusinesses, many of which also deal in related products, such as well drilling and water pump equipment, farm implements, grain handling and storage systems, and farm structures.

International Market - The company sells center pivot and lateral move irrigation systems throughout the world. The company sells direct to consumers, as well as through an international dealer network, and has production and sales operations serving the key markets in South America, Western and Eastern Europe, China, Africa, the Middle East, Australia, and New Zealand. The company also exports irrigation equipment from its global production facilities to other international markets.

Infrastructure

This segment includes the manufacture and marketing of moveable barriers, specialty barriers, crash cushions and end terminals, road marking and road safety equipment, and railroad signals and structures. The infrastructure segment also offers technology to monitor critical safety infrastructure on roadways. The principal infrastructure manufacturing facilities are located in Rio Vista, California; Milan, Italy; and Lindsay, Nebraska.

Products

The company's Quickchange Moveable Barrier system, commonly known as the Road Zipper System, is composed of three parts, including T-shaped concrete and steel barriers that are connected to form a continuous wall; a Barrier Transfer Machine (BTM) capable of moving the barrier laterally across the pavement; and the variable length barriers necessary for accommodating curves.

In permanent applications, the Road Zipper System increases capacity and reduces congestion by varying the number of directional traffic lanes to match the traffic demand and promotes safety by maintaining the physical separation of opposing lanes of traffic. Roadways with fixed medians have a set number of lanes in each direction and cannot be adjusted to traffic demands that may change over the course of a day, or to capacity reductions caused by traffic incidents or road repair and maintenance. Applications include high-volume highways where expansion may not be feasible due to lack of additional right-of-way, environmental concerns, or insufficient funding. The Road Zipper System is particularly useful in busy commuter corridors and at choke points, such as bridges and tunnels. Road Zipper Systems can also be deployed at roadway or roadside construction sites to accelerate construction, improve traffic flow, and safeguard work crews, motorists, pedestrians, cyclists, and others using the roadway by positively separating the work area and traffic. Examples of types of work completed with the help of a Road Zipper System include highway reconstruction, paving and resurfacing, road widening, median and shoulder construction, and repairs to tunnels and bridges.

The company offers a variety of equipment lease options for Road Zipper Systems and BTM equipment used in construction applications. The leases extend for periods of one month or more for equipment already existing in the company's lease fleet. Longer lease periods may be required for specialty equipment that must be built for specific projects.

Crash Cushions

The company offers a complete line of redirective and non-redirective crash cushions, which are used to enhance highway safety at locations, such as toll booths, freeway off-ramps, medians and roadside barrier ends, bridge supports, utility poles, and other fixed roadway hazards. The company's primary crash cushion products cover a full range of lengths, widths, speed capacities, and application accessories; and include various brand names TAU; Universal TAU-II; TAU-II-R; TAU-B_NR; ABSORB 350; Walt; TAU-M; ABSORB-M and TAU-TUBE. These systems are generally sold through a distribution channel that is domiciled in particular geographic areas.

Specialty Barriers

The company also offers specialty barrier products, such as the SAB, ArmorGuard, PaveGuard, and DR46 portable barrier and/or barrier gate systems. These products offer portability and flexibility in setting up and modifying barriers in work areas and provide quick-opening, high-containment gates for use in median or roadside barriers. The gates are generally used to create openings in barrier walls of various types for both construction and incident management purposes. The DR46 is an energy-absorbing barrier that can help protect motorcyclists from impacting guardrail posts, which is an area of focus by departments of transportation and government regulators for reducing the amount and severity of injuries.

Road Marking and Road Safety Equipment

The company also offers preformed tape and a line of road safety accessory products. The preformed tape is used primarily in temporary applications, such as markings for work zones, street crossings, and road center lines or boundaries. The road safety equipment consists of mostly plastic and rubber products used for delineation, slowing traffic, and signaling. The company also manages an ISO 17025 certified testing laboratory that performs full-scale impact testing of highway safety products in accordance with the National Cooperative Highway Research Program (NCHRP) Report 350, the Manual for Assessing Safety Hardware (MASH), and the European Norms (EN1317 Norms) for these types of products. The NCHRP Report 350 and MASH guidelines are procedures required by the U.S. Department of Transportation Federal Highway Administration (FHWA) for the safety performance evaluation of highway features. The EN1317 Norms are being used to qualify roadway safety products for the European markets.

Rail Products

The company also designs, engineers, manufactures a line of rail products for railroads. Products are designed to meet industry standards and include signals and lights, structures, foundations, junction boxes and signs.

Markets

The company's primary infrastructure market includes moveable concrete barriers, delineation systems, crash cushions, and similar protective equipment. The company distributes infrastructure products in Europe, South America, the Middle East, Australia, and Asia.

Distribution Methods and Channels

The company has dedicated production and sales operations in the United States, Italy, and the Netherlands. Sales efforts consist of both direct sales and sales programs managed by the company's network of distributors and third-party representatives. The sales teams have responsibility for new business development and assisting distributors and dealers in soliciting large projects and new customers. The distributor and dealer networks have exclusive territories and are responsible for developing sales and providing service, including product maintenance, repair, and installation. The typical dealer sells an array of safety supplies, road signs, crash cushions, delineation equipment, and other highway products. Customers include the departments of transportation, municipal transportation road agencies, roadway contractors, subcontractors, distributors, and dealers.

The company's moveable barrier products are typically sold to transportation agencies or the contractors or suppliers serving those agencies.

Seasonality

Shipments to customers located in Northern Hemisphere countries usually peak during the company's second and third fiscal quarters (year ended August 2023) for the spring planting period. The sale of infrastructure products is traditionally higher during prime road construction seasons and lower in the winter. The primary construction season for Northern Hemisphere countries generally corresponds with the company's third and fourth fiscal quarters.

Patents, Trademarks, and Licenses

The company's Zimmatic, Perrot, Road Zipper, The Road Zipper System, Quickchange Moveable Barrier, ABSORB 350, ABSORB-M, FieldNET, FieldNET Advisor, FieldNET Crop Advisor, FieldNET Irrigation Advisor, FieldNET VRI Advisor, FieldNET Weather Advisor, WatertrendSM, FieldWise, Greenfield, GrowSmart Z-TRAX, TAU, Universal TAU-II, TAU-II-R, TAU-B_NR, TAU-M, TAU-TUBE, CableGuard, TESI, SAB, ArmorGuard, PaveGuard, DR46, U-MAD, Sabertooth, RoadConnect, ImpactAlert, and other trademarks, service marks, domain names, and copyrights are registered or applied for in the major markets in which the company sells its products.

History

Lindsay Corporation was founded in 1955. The company was incorporated in 1974.