IndustrialSage Transcript Danny: I have Mr. Cory Flemings here from JBT to join us on the first Executive Series under IndustrialSage. Cory, thank you so much for joining me today. Cory: Pleasure to be here, thanks very much. Danny: Well, so for those who aren't familiar with JBT, who are you guys? What do you guys do? Cory: Who is JBT. That's a very good question, especially within the realm of material handling. JBT is actually named after a guy named John Bean who was an industrial fruit tree sprayer back in the 1880s. We go way back. And he partnered up with a guy in 1921, I think, who was an almond manufacturer and they created this company called The Food Machinery Company, which many of us have now, if you say the name FMC, go, "Oh, I know FMC." So FMC came through two world wars. We've built landing craft in World War II. We built the MM13 fighting vehicle in Vietnam. We did the Bradley fighting vehicle. We got into oil and gas. In fact, the fruit tree sprayer became sprayers for de-icing fluid on aircraft after we started flying jets after World War II. You'll still see JBT sprayers out there when you're getting sprayed to take off in the wintertime. You'll still see us doing that kind of work. So then JBT got its name when the FMC gas guys and the technology guys broke off and long story, but right around the turn of the millennium they took the food machinery companies, the AGV division, and then our aviation assets that does everything around commercial airlines and loaders and unloaders and de-icers and so forth, generators, and they spun that part of the company off back to its original founder's name, John Bean. So we're known as JBT, John Bean Technologies. And that's where we came from. Danny: That makes a lot of sense. So that's a lot, you're touching a lot of different industries. What are kind of the main industries that you guys focus in? Cory: So corporate JBT, we have really two big divisions. Food division, which is subdivided into protein and liquid foods. So we freeze half of the world's frozen food. Our machines do, at least. We just do a lot in canning and frozen foods and in juicing. I think we squeeze 50% of the world's orange juice globally. And then, there's the aero tech division. So Jetway, when you walk onto the airplane, that jet bridge, the Jetway brand is actually a JBT brand. Danny: That's super cool, yeah. Cory: Then if you look down you see the loaders and things that you look out the window of the airplane, a lot of that equipment is actually JBT. So we have aero tech as another division of our company, and the AGV division is part of the food tech division. So the food tech division is all kinds of industrial machines for food processing, commercial food processing. The AGV division, then... Ironically, we don't do a lot in food: we do a lot more in manufacturing in automotive and things like that. So it's kind of interesting that we're part of the food technology outfit. But nonetheless, we do a lot in beverage. In the automatic guided vehicle world, any time you're dealing with pallet of heavy loads, full pallet sized units, that's the kind of equipment that we have to work with. So in the world out there right now there are really two subsets of the automation world for automatic movement. You've got the AMR community, you hear a lot about, and the AGV community. And there's a large perception that the AGV community's kind of getting old-fashioned and so forth. AMRs are autonomous mobile robots that use a different type of navigation technology, but the vehicles generally speaking are small. They're carrying 60 pound loads, tote size. Whereas AGVs are carrying full 2,200 pound pallets.