Spring Manufacturers Report Sales Up
Spring Manufacturers Report Sales Up
John Wolz
More than three-quarters of North American spring manufacturers reported increased business in the second quarter of 2004. It is the fourth consecutive quarter of increased sales, according to the Key Business Trends Survey conducted by the Spring Manufacturers Institute.
A total of 78% of companies indicated that business increased during the quarter over the second quarter of 2003. No company reported a Q2 decline.
“Certainly, we’re pleased with the first half of 2004,” says Ken Boyce, SMI executive vice president. “But it’s always something. Now that orders are climbing, steel shortages caused by China’s heavy consumption are making it difficult for springmakers to obtain materials.”
Shipments are up, lead times are increasing, average work hours are up, and forecasts are also favorable, Boyce pointed out. The only cloud on the horizon is the shortage of materials and the threat of allocations for steel materials. Web: smihq.org �2004 FastenerNews.com
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