COVID-19 relief money helps manufacturers survive 2020
Rubber & Plastics News Staff
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SOUTHFIELD, Mich. One in four manufacturing companies would have lost money or merely broken even in 2020 without government help, a new survey reports. But respondents also say they have a better outlook for this year.
Harbour Results Inc. (HRI), a manufacturing industry consulting and benchmarking company, in its Q1 2021 Harbour IQ Manufacturing Pulse Study indicated 25 percent of respondents needed the Paycheck Protection Program in the U.S. or the Canada Emergency Wage Subsidy to avoid red ink or no profit last year. The industry seems to be rebounding in 2021 after a difficult 2020 sentiment is up, capital spending is planned and utilization has increased, all pointing to a healthier industry, HRI CEO Laurie Harbour said in a statement. Although this is positive news for manufacturers, there is a great deal of room for improvement as efficiency is declining, overall revenue fell, an
North American manufacturing rebounding from a challenging 2020, survey shows
Twenty-five per cent of the plastics processors and moldmakers surveyed broke even or lost money in 2020. April 28, 2021 Canadian Plastics
Despite a very difficult 2020, North American plastics manufacturers and moldmakers are optimistic overall for 2021, a new survey has found.
Conducted by Michigan-based consulting firm Harbour Results Inc. (HRI), the “Q1 2021 Harbour IQ Manufacturing Pulse Study” found that 25% of small- to medium-sized manufacturers that responded say they would have broken even or lost money without government funds (Paycheck Protection Program (PPP) or Canada Emergency Wage Subsidy (CEWS)).
Additionally, the survey found that the overall industry is optimistic for 2021, with sentiment reaching 2019 levels of optimism; tool and die utilization rebounded to 80% in Q1 2021 from an all-time low of 63%; and production utilization grew from 39% in Q2 2
Published: Friday, April 23, 2021
Electric vehicle from REE Automotive. Credit: Ree Auto/YouTube
A new electric vehicle from REE Automotive raises the question of who will make tomorrow s cars. Ree Auto/YouTube
In a video from REE Automotive, a startup out of Israel, its marquee product acts like an automobile, swerving around traffic cones and over bumps. But crucial stuff is missing. No doors or windows, no steering wheel, no fenders or brake pedals. It s just a board with wheels.
Yet it is a four-wheeled, self-powered vehicle with the ability to accelerate, brake and steer. So it s an automobile. Or is it?
Cavalier to chase work on larger projects through acquisition
Cavalier Tool & Manufacturing Ltd.
Windsor, Ontario-based Cavalier Tool & Manufacturing Ltd. says its acquisition of Mold Services International Inc. improves its capacity and capability to meet demands for big projects from automakers.
Windsor, Ontario-based Cavalier Tool & Manufacturing Ltd. has purchased Mold Services International Inc. of nearby Oldcastle, Ontario, to increase its production capacity and technology to go after bigger projects.
Founded in 1997, MSI manufactures injection and compression molds at a 22,000-square-foot facility for the automotive and other markets.
Cavalier officials said the MSI plant will increase its capacity in gun drilling, electrical discharge machining, plate milling, large roughing, large five-axis equipment and toolmaking. The added capabilities are facets of the business we usually outsource, Cavalier President Brian Bendig said in a news release.