THE 7TH EDITION OF GEICO’S INNOVATION DAY HAS JUST CONCLUDED.

AMBITIOUS GOALS ACHIEVED WELL IN ADVANCE:

– ENERGY INDEPENDENCE DAY: THE DEVELOPMENT OF SYSTEMS TOTALLY SELF-SUFFICIENT IN TERMS OF ENERGY (CONSUMPTION -70%) FORECASTED FOR 2020 WAS ACHIEVED THREE YEARS EARLY.

– GEICO, WITH ITS J-NEXT PROJECT, AND PARDIS FOUNDATION, WITH ITS GATE BRIDGE PROJECT, HAVE HELPED MORE THAN 100 YOUNG PEOPLE ENTER THE WORKING WORLD.

NEXT OBJECTIVE:

-THE SMART PAINTSHOP PROJECT, AS PART OF INDUSTRY 4.0

AND MUCH MORE.
AT GEICO, THE FUTURE IS NOW.

Milan, 7 November 2017. The curtain has fallen on the seventh edition of Innovation Day, the biannual event dedicated to lending and financial institutions during which Geico, international leader in the design and manufacture of automated turnkey vehicle body painting plants, presents the state of the art of its projects, of its business strategies from a technological and cultural point of view, and of its future projects.
During the event, which is open to investors, journalists, partners, strategic suppliers and all stakeholders, participants discussed the innovations developed by Geico in recent years, advanced technological solutions culminating in the Energy Independence Day environmental sustainability project and the Smart PaintShop project, which catapults the entire trade into the era of industry 4.0.
The first part of the meeting was devoted to environmental sustainability and corporate social responsibility, with two important objectives achieved by Geico three years earlier than expected. In fact, in 2017 the company reached the goal of Energy Independence Day, reducing energy consumption for the painting of an vehicle body from 900 kWh to 270 kWh. It is an exceptional achievement, the result of the highest level of engineering innovation, continuous technological research and environmental ethics. In 2005 the goal had been set to reduce consumption by 70% by 2020. Thanks to the intense activity of the R&D department, Geico is now able to guarantee a plant with a very low environmental impact.
Participants watched an in-depth video that illustrated the evolution of the plants from 2005 to today.
Geico’s technology and engineering developments blend with the Group’s profound sense of social responsibility, demonstrated by the second important announcement of the event: thanks to Geico’s J-Next project and the Pardis Foundation’s Gate Bridge project the company was able to do its part to contribute to youth employment. The J-Next project is an initiative launched in 2011 and still active today, involving the hiring and training of recent engineering graduates in the company, an important growth opportunity for the young people and for the human enrichment of the company thanks to their many fresh, brilliant ideas that drive innovation. Gate Bridge, promoted by Geico through the Pardis Foundation, has the mission of facilitating the hiring of young university and high school graduates aged between 18 and 30 in local businesses, acting as a mediator between companies and the youth and fully financing their placement within the companies.
Overall, from the start of these projects over 100 young people have been placed in the workforce.
The activities, projects and initiatives of the Pardis Foundation have been presented in an intense video featuring the many faces that are involved in its efforts on a daily basis. One big heart and great confidence in young people: these are the ingredients that allow Geico to work non-stop to do so much for the community through its Pardis Foundation.

The second part of the meeting was devoted to technological innovation, a topic introduced by Francesco Beraldi, one of Italy’s leading IT experts – President of Alkemy Tech, O2E and Seolab, board member of Talent Garden, ICT Sud, Alkemy SpA and partner of Superpartes – who explained to guests how the digital evolution has made it possible to enter the era of Industry 4.0.

An immersive presentation software, created thanks to a special virtual reality technology developed with Streamcolors, accompanied all of Geico’s presentations and allowed guests to enter the world of Smart PaintShop, the project that catapulted the Group into Industry 4.0 and that will revolutionise vehicle body painting plants. This next stage – which affects the spheres of efficiency, safety, quality, cost savings and respect for the environment – offers solutions for the geolocation of vehicle bodies, safety sensors to prevent malfunctions, the application of the Internet of Things to analyse and improve painting stages in real time, wearable technology for a perfect human-machine interaction, augmented reality and an innovative system for the management of energy consumption, all managed in the cloud by J-Suite, the “avatar” of the whole plant.

The second part of the event – opened with an exciting show put on by acrobats – continued on the stage of the Pardis Innovation Centre, the company’s pride and joy, the Geico research and development centre, the beating heart where technologies are discovered and developed on a daily basis. It was a journey into the future during which guests could observe and personally experience all the innovations that have brought the company and the whole industry into the era of Industry 4.0. In particular, it was possible to explore several different technological islands: the island of Production Flexibility with a functioning AGV, the IoT System island with BodyGeolocalization and the CTRL + PAINT vehicle body quality scanning system, the island of the Smart Management System with augmented reality for J-Doc, Virtual Commissioning and Smart Maintenance, and finally the island of the Smart Energy Management System.
Thanks to a special system of augmented reality, with Cardboard technology visitors were able to enjoy an even more spectacular journey.
Ali Reza Arabnia, Chairman and Chief Executive Officer of Geico, comments, “The era of Industry 4.0 has begun. And we are ready. We are convinced that people can finally devote themselves to higher tasks, all the activities that require expertise, knowledge and experience, without getting bogged down in the more operational, dangerous and “mechanical” aspects that can be carried out by machines. There’s no need to fear that “humans will be replaced by robots” as people often say. In fact, our idea of Industry 4.0 is a new revolution, a cultural opportunity that calls into question the foundations of the automotive industry and that will allow us to reach objectives that until today were inconceivable”.
Daryush Arabnia, COO of Geico, adds: “We have reached technological heights that I am proud of and achieved our goals earlier than planned, but we have no intention of stopping here. We are always pursuing excellence and our team works daily in this regard. Today we have new ambitious goals: technological research into cutting-edge solutions and the realisation of plants that are truly 4.0”.

Geico SpA
For more than 50 years, Geico has been a world leader in the design and manufacture of automated turnkey vehicle body painting plants. Always focused on the innovation of processes and technological solutions, the company boasts the trade’s most important Research & Development Centre in the world. In 2011 it partnered with the Japanese company Taikisha, affirming its leadership role in the vehicle body painting plant industry, achieving an average annual turnover of $1.8 billion. Today the company’s customers include the world’s leading car manufacturers. Geico, an example of cultural innovation, virtuous management and entrepreneurial strength, was founded on solid values and places employees and people at the centre of its business.