Equipment Report

MineHub to acquire Jules AI

MineHub Technologies Inc., a Vancouver, British Columbia-based provider of digital supply chain solutions for the commodity markets, has signed a definitive asset purchase agreement to acquire Jules AI from Nyteco Inc., a Toronto-based incubator.

The purchase will be made via a structured earn-out based on three-year cumulative revenue targets.

Founded in 2021 by Sean Davidson, Arnaud Boucheron, Jean-Philippe Boul and Réda Boumahdi, Jules AI’s commodity and trade risk management platform replaces fragmented workflows with artificial intelligence- (AI-) driven automation tailored for recycled and industrial commodities traders. The platform automates data entry, document checks and compliance tracking and centralizes institutional expertise as teams grow and transition to deliver real-time global trade insights via predictive analytics.

The Jules AI platform processed nearly 2 million metric tons of scrap materials in 2024 for industry leaders that included Dhatu International Pte. Ltd. of Singapore, a ferrous scrap trader; Michigan-based Schupan & Sons, which specializes in processing and trading ferrous and nonferrous metals; and India-based Star Group, which operates more than 30 warehouses worldwide.

The acquisition of Jules AI expands MineHub’s digital offerings to encompass bulk, refined and recycled/scrap metals. Together, the firms aim to deliver a unified platform that integrates MineHub’s digital solutions with Jules AI’s execution capabilities, targeting critical workflows across primary and recycled metals supply chains.

MineHub says the two companies will enable:

• direct exposure to the $1 trillion scrap sector as cross-selling opportunities exist with MineHub’s customer base and access to major trading firms;
• full-stack AI Integration that allows traders to automate routine tasks, execute complex trades and deliver predictive insights; and
• the ability to support all logistics types (bulk, containers, trucking), pricing methods (spot, formulas), process stages (orders, hedging, documentation, logistics, accounts) and pricing models.

Haywood Securities Inc., based in Vancouver, is acting as financial advisor to MineHub in connection with the transactions under the agreement. 

Ohio Magnetics makes move to speed shipment times

Ohio Magnetics, headquartered in Maple Heights, Ohio, has launched its Rapid-Ship Program for two sizes of Super Loadstar lifting magnets, with the program designed to enable shipping of the two models in one to five days.

The company, a business unit of Dublin, Ohio-based HBD Industries Inc., says the new stocking program has been designed to dramatically improve delivery speed and customer satisfaction.

The inventory and shipping initiative is being applied to 48- and 58-inch Super Loadstar lifting magnets. The company designs and manufactures the product line at its Maple Heights facility.

Super Loadstar magnets feature heavy-duty cast case construction for scrap handling applications, according to Ohio Magnetics. The firm says the magnets have the highest lifting capacity in the industry, ranging from 2,200-3,240 pounds.

“This new stocking program allows us to respond faster to customer needs, reducing wait times,” says Kevin Sullivan, sales manager of Ohio Magnetics. “This means our customers can begin using the equipment immediately, lifting more to achieve greater efficiency from Day 1.

“These magnets deliver a significant performance edge, offering between 220-415 pounds more lifting capacity than comparable models on the market.”

With roots tracing back more than 100 years, Ohio Magnetics says it provides magnets that deliver lasting performance as well as comprehensive technical and repair services. The company says it also provides expert guidance on proper use and handling—ensuring customers achieve maximum efficiency, safety and longevity.

“Our manufacturing teams are working in lockstep to keep inventory levels maintained for these magnets,” says Jim Feaster, Ohio Magnetics plant manager. “This ensures we can ship quickly to meet urgent customer needs and help reduce their operational downtime.”