RALEIGH — Ever since Fortive Corporation announced plans in April to launch a new transportation company called Vontier Corporation in Raleigh, the company has largely stayed under the radar.
However, new details are beginning to emerge.
The Everett, Washington-based industrial technology growth company, with some $2 billion in revenue, disclosed to WRAL TechWire this week that, even during a pandemic, it’s moving ahead with the new venture and is planning to locate its headquarters in Wade Office Park in Raleigh. It’s also going on a big hiring spree.
“We anticipate approximately 100 executive, professional, and administrative corporate employees will be located [there],” company spokesperson Sabrina Kropp said.
It is unclear, however, when the company plans to officially launch.
“We strongly believe that separating Fortive and Vontier is the right strategic decision and will enable both companies to take full advantage of their respective growth opportunities and capital allocation priorities. The Vontier senior leadership team will continue to run the businesses within Fortive, and we remain prepared to move forward with the separation when market conditions improve,” the spokesperson said.
Fortive, which has more than 25,000 employees spread across 50 countries, first announced plans to split into two companies in September 2019, with one being Vontier.
As described by Fortive, Vontier will be a “global industrial company focused on transportation and mobility, with a portfolio of leading retail and commercial fueling, fleet management, and professional tools brands. It will possess leading positions in a range of end-markets such as retail fueling and mobility infrastructure, fleet management and smart cities, and vehicle maintenance and repair. Vontier’s history of innovation, margin profile, and cash flow characteristics, along with its strong foundation of continuous improvement based on the Fortive Business System, are expected to support continued investment in a range of organic growth and capital deployment opportunities.”
In total, Fortive said the new company plans to employ 8,400 workers around the world as part of the project.
On its website, Fortive has listed eight open positions for the Raleigh headquarters. They include: “Director of Sustainability,” a “Vice President of Inclusion Diversity & Equity,” “Chief Information Security Officer,” a “senior tax analyst,” a senior international tax manager,” a “payroll systems lead,” a “Director of Finance, Investor Relations and M&A,” and a “compensation consultant.”
Original Article Source: WRAL TechWire