Spending on equipment to increase
Canadian PlasticsCanadian Plastics
Assuming a quick conclusion to the war in Iraq, companies appear poised to spend more on machinery and equipment in...
Assuming a quick conclusion to the war in Iraq, companies appear poised to spend more on machinery and equipment in 2003. A survey recently released by the U.S.-based National Association of Manufacturers found that most manufacturers plan to boost capital spending between 2.5 and 5% over 2002 levels. According to the survey, 63% of the firms responding confirmed they would increase spending on equipment by up to 5% this year. Some industry observers believe much of that spending could take place in the second half of the year.
Other anecdotal evidence points to increasing business in the plastics industry. One global supplier of components used in hot runner systems told Canadian Plastics that new orders for hot runners will increase 15% in 2003 over last year. This implies increase in global mold building activity. A report released by SIRA International documents an 18% increase of injection molds imported to China in 2002. China is now the second largest injection mold import market after the United States.
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