Economy

March billings among 40 U.S. cutting tool companies increased 5.7 percent over February and 15.4 percent over January, according to a recent report from the U.S. Cutting Tool Institute (USCTI), which surveys U.S. cutting tool companies each month for USCTI's Current Business Report. Total billings in March reached nearly $166 million, compared to nearly $157 million in February and nearly $144 million in January.

GF Machining Solutions, , will purchase micromanufacturing machine builder Microlution Inc., Chicago, according to a comany news release issued May 11. Described as a specialist of micro-machining based on milling and laser technologies, Microlution was founded in 2005 and reportedly generated $10 million in 2015 with a workforce of 30 employees.

The Berghoff Group, a German manufacturer, recently announced plans to open its first U.S. plant, which will be located in Auburn, Ala. The company reportedly will invest $30 million to open the manufacturing facility, which is expected to create 100 precision-machining jobs over the next 5 years, according to a news release from the Alabama Department of Commerce.

Doug Wetzel, managing director at contract manufacturer Protomatic, Dexter, Mich., is finding business to be slower than he wishes. Like many other U.S. job shops, the 45-year-old company is experiencing a slowdown caused by tumbling oil prices and worldwide political and economic uncertainty. The difference is Wetzel isn’t too worried. His advice to fellow manufacturers is to not let market uncertainty paralyze them from seeing a slowdown’s silver lining— namely, time to prepare for the inevitable upturn.