Today’s rapidly changing economic climate has affected the forging community unequally, depending on which economic sectors companies serve. A post-crisis rebound strategy may help you decide how to cope with a reopening economy. Here are some matters to consider, in Q&A format, as your operation moves into the next economic phase.
August 12, 2020
The COVID-19 pandemic has changed the forging landscape –seemingly overnight. With many in the industry initially expecting the impact to last a matter of weeks, most forgers are now preparing for a much longer recovery period that will likely last into early 2021.
It looks like COVID-19 issues will continue to affect business for the foreseeable future. In our previous column, we introduced a cash-flow management tool. We hope you were able to download the tool and instructions.
According to a report, Spain’s Alcorta Forging Group will open its first U.S. manufacturing operations and regional headquarters in Marysville, Ohio. The 100-year-old company, which develops and manufactures automotive components, will invest $15 million and create 50 new jobs. The 150,000-square-foot forging and manufacturing facility will be completed in three phases and include state-of-the-art machinery and equipment. Under the current uncertain circumstances, Alcorta will move forward with its pre-construction activities while remaining on hold for the construction launch.
According to a local report, the Lawrence County Planning Commission accepted a land-development plan for an addition to Ellwood Specialty Steel’s production facility in New Castle, Pa. The plan calls for a 10,800-square-foot addition and a 7,560-square-foot lean-to structure, both at the back of the existing building. The purpose of the expansion is to increase capacity for a product the company distributes, sales of which have been growing, according to a company spokesperson. Ellwood Specialty Steel is a fully integrated producer of tool steels for forging dies, die-cast dies and other tooling applications. The company utilizes primary melting, refining and degassing equipment, along with ESR and VAR processes, to manufacture premium steel ingots.
Only 10 weeks have passed since I wrote my last column in mid-March, but the world has changed so much that it seems a lifetime ago. The phrase “going viral” has gone full-circle and come back to its original and more literal meaning.
India’s Bharat Forge announced that it will partially resume manufacturing operations at its Mundhwa, Chakan and Satara plants pursuant to the COVID-19 pandemic. Bharat Forge is commencing operations in a gradual manner pending the completion of mandatory safety checks and training personnel on physical distancing, health and hygiene per guidelines stipulated by India’s Ministry of Home Affairs. The training for employees includes: mandatory self-declaration of good health before joining; the wearing of face masks; regular sanitization of personal items and work stations; maintaining social distancing; and thorough sanitization of all workplaces, buses and other official vehicles after each trip.
To review, whistleblowers are employees who expose fraud, waste or other misconduct occurring within their company. Retaliation against whistleblowers is nothing new, but legislative policies to protect whistleblowers from being fired, harassed or otherwise abused in the workplace are comparatively new.