FABTECH News
When The Recession Ends, Will America's Manufacturers Be Ready
DEARBORN, Mich., May 27, 2009 — Federal Reserve Chairman Ben Bernanke recently announced before Congress that the economy should experience an upturn later this year. Welcome news after a year that has been unwelcoming. And history shows that it’s the period immediately following a recession that offers the most opportunity for businesses.
In the case of manufacturers, being prepared can be the difference between succeeding or failing when the recession does end.
The industry associations that produce the FABTECH International & AWS Welding Show, including METALFORM tradeshow -- Fabricators & Manufacturers Association (FMA), along with the American Welding Society (AWS), the Society of Manufacturing Engineers (SME) and the Precision Metalforming Association (PMA) -- are working together to help manufacturers survive the recession and be ready for the turnaround. For example, a 60-minute webinar, which is available now at www.fabtechexpo.com/video/webinar.cfm discusses the economy and how it impacts manufacturers. The webinar is presented by Chris Kuehl, PhD, an economic analyst with FMA.
"During tough times there’s often a tendency to go into survival mode to ration or cutback on everything. Rather than making drastic cuts or taking desperate measures, greater efficiency can be your best bet for coming out on the other side of the recession," said Kuehl.
"Now is not the time to abandon product lines or stop promotions such as advertising or attending tradeshows. Now’s the time to keep your customers in mind, keep your service standards high and play up your strengths while working on your weaknesses," added Kuehl.
Around the time Bernanke projects an improvement in the economy, FABTECH will bring the metalforming, fabricating and welding industries together to discover new products and vendors and gain valuable business-building knowledge at McCormick Place in Chicago, November 15-18, 2009.
"FABTECH will provide manufacturers great opportunities to take their businesses to the next level. By far, the U.S. is still the world’s leading manufacturer and the value of our goods is about $1.6 trillion with manufacturing making up about 12 percent of our GDP. We can’t achieve a healthy economy without it," said Kuehl.
To register for the 2009 FABTECH International & AWS Welding Show, including METALFORM, call 800.733.4763 or 313.425.3000, ext. 4500 (outside the U.S. and Canada), or online at www.fabtechexpo.com.
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