Economy

Manufacturers face "unprecedented global complexity," according to a Jan. 12 blog post on the website for the Manufacturers Alliance for Productivity and Innovation (MAPI). "The sector is now powered by software and data every bit as much as by steel and electricity," continued the post, which was authored by MAPI Marketing Council Manager Cam Mackey. "The ability to access insights about how to survive and thrive has never been more critical. "Recent shifts in technologies, demographics and markets have created a new normal for manufacturers. Those that adapt quickly will emerge more innovative and agile than their competitors, but not without undergoing a transformation in everything from the people they hire to how they create value," Mackey observed in report titled, "The Impact of Megatrends on U.S. Manufacturers." 

Hardide Coatings Inc., a U.K.-based provider of advanced surface coating technology, recently opened a new production facility in Martinsville, Va. The $7 million expansion, which began a year ago, allows Hardide to expand its production operations to North America.

Jay Timmons, National Association of Manufacturers (NAM) president and CEO, will kick off the 2016 State of Manufacturing Tour on Jan. 28 at Saint Anselm College in Manchester, N.H. Joining Timmons will be Neil Levesque, executive director of the New Hampshire Institute of Politics and Political Library, and Jim Roche, president of the Business and Industry Association of New Hampshire.

Speedgrip Chuck Inc., an Elkhart, Ind.-based designer and manufacturer of highly engineered workholding mechanisms, has been sold to an affiliate of Stratford-Cambridge Group, a private investment firm headquartered in Plymouth, Mich. Speedgrip announced the transaction in a news release issued Dec. 16.

Labor productivity in the manufacturing sector increased at a seasonally adjusted rate of 5.1 percent during the third quarter of 2015—the largest gain recorded since a 6.1 percent increase during the third quarter of 2011, according to the U.S. Bureau of Labor Statistics. Output increased 3.2 percent while hours worked decreased 1.8 percent.

As Kirtland Community College puts the finishing touches on its new Computer Numerically Controlled lab, the Roscommon, Mich., school is nearly set to launch a certificate program aimed at meeting the growing demand for workers with computerized tooling training.

Manufacturers contribute $2.17 trillion to the U.S. economy, according to the National Association of Manufacturers (NAM), a Washington, D.C.-based association representing small and large manufacturers in 50 states. Up nearly 28 percent since the second quarter of 2009, the amount spent by manufacturers leads off the "Top 20 Facts About Manufacturing" posted on the NAM website.

Economic activity in the manufacturing sector contracted in December for the second consecutive month, while the overall economy grew for the 79th consecutive month, according to the nation’s supply executives in the latest Manufacturing ISM® Report On Business®. The report, issued Jan. 4 by Bradley J. Holcomb, chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee.