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News and Company Comments

This page is dedicated to our reports and comments regarding the current news that is affecting the manufacturing industry. 


Parts Look Promising

We write again today with good news for the manufacturing industry.  Reports yesterday told of a happy story, which many of us have been holding out for in recent years.  The 2010 manufacturing technology sales figures are showing a drastic improvement over the months that preceded it.

Not only did July result in overall manufacturing sales growth of 2.7%, but it is a 139.4% growth since July 2009. 

Though no one is about to stand up and say that the economy is back to good standing, it is hopeful to hear such reports.  We, at Hancock Precision, Inc. are even happier to report that we too have been experienced the pickup of the industry.  We hope our affiliates can say the same.

This information comes to us compliments of the Quick Manufacturing Newsletter, September 21, 2010.

Click the link below to learn more about an upcoming trade show that is surely going to bring light to new advancements industry wide.  We look on in eager anticipation.

(This article is a feed from Industry Week Online Edition)

Obama Official Reaches Out to Manufacturers

Lamb-Hale says U.S. industry needs to utilize government programs to tap into new, high-growth markets.

U.S. manufactures are competing on a global chessboard, but too few have diversified their sales in multiple markets, says Nicole Lamb-Hale, Assistant Secretary of Commerce for Manufacturing and Services.

Lamb-Hale is tasked with facilitating President Obama's efforts to double U.S. manufacturing exports in the next five years. To do this, she said, industry will need to take advantage of a resource that has been woefully under-utilized: the services of the government.

In a keynote address at the "Pathway to Manufacturing Prosperity Conference" on Thursday in Chicago, held by IndustryWeek and New Equipment Digest, in partnership with the Italian Trade Commission, Lamb-Hale said federal initiatives aimed at increasing U.S. export sales, identifying new customers in emerging markets, and introducing and protecting U.S. technology will be vital for post-recession industry.

"While the U.S. is a major exporter, we are underperforming," said Lamb-Hale. "Currently, fewer than 1% of America's 30 million companies export outside the U.S. There's great potential for improvement."

The problem, she said, is too few companies tap the resources available.

"People don't know what's out there," said Lamb-Hale afterward in an exclusive interview with IndustryWeek. "We have too many secrets in government. That's part of the problem. That's why we need to get out there and show industry the resources that are available."

Lamb-Hale works primarily through the Commerce Department's International Trade Administration (ITA). The Obama administration wants a stronger ITA as a means of advocating for American businesses abroad and will increase its budget by 20% to $540 million in 2011. Lamb-Hale said that the Export-Import Bank of the United States -- which provides export financing when private banks cannot or will not -- will see an increase in the budget for financing small- and medium-size businesses.

"The essence of our function is to convene experts both inside and outside the government to develop solutions to the issues faced by U.S. industry," said Lamb-Hale. "We collaborate with Congress, with agencies across the federal government, and with state and local governments. We have contacts and can connect industry to resources and tools available by the federal government. All these tools can help enhance our competitiveness around the world."

Hancock Precision Accepts the Challenge

By: Darcie Duranceau

Recently, there was an article written in the EHS Today publication that discussed the “aging of the workforce.”  This is something that many companies in the machining industry, including Hancock Precision, have had to deal with.  Though experienced employees make wonderful assets, one must also make an effort to introduce youth into the company in order to make it sustainable in the future.  Fortunately, we have been able to welcome a new temporary member to our team that brings a breath of fresh air to the environment.  At just 19 years old, he has proven himself to be a hard worker and dedicated learner.  So, while the market of potential youthful employees for the machining industry remains slim, we recognize the challenge and are willing to work to train those who have the drive and determination to learn a trade that can prove very profitable.

For more information on becoming an employee of Hancock Precision and working within the machining industry, contact us today.

For more information about the current machining industry struggles to find qualified young employees, click here.




U.S. Manufacturing Sector Grows for 10th Straight Month

Continued strength in new orders and production

(this article is a feed from Industry Week Online Publication)


Bolstering hopes of a sustained, if moderate, economic recovery, the Institute for Supply Management said its monthly survey of managers showed "continued strength in new orders and production," despite the rate of growth slowing slightly.

The firm's manufacturing index, also known as the purchasing managers index, stood at 59.7%, down slightly from the 60.4% April.

"At 59.7 the index is well above the 50% growth threshold and at an elevated level similar to what was seen in late 2003 when the manufacturing sector broke out of the 2001 recession," said Daniel J. Meckstroth, Chief Economist for the Manufacturers Alliance/MAPI. "Very low consumer inventories and strong gains in exports signaled in the ISM report point to key reasons for the strong and quick industrial rebound in this cycle. There is a post-financial crisis global recovery in foreign trade coupled with a large domestic inventory swing which accounts for this very broad-based recovery in manufacturing activity and the upward price pressure in raw materials. 
"A corroborating indicator of the strength in the manufacturing rebound is the fact that respondents to the ISM survey are so bullish on job growth in a sector that is not known for job creation," he added. "The supply chain pipeline is filling with orders and manufacturing firms are reluctantly, but out of necessity, adding staff."