Displaying items by tag: Harbour Results Inc
Facing widespread supply chain disruptions over the past two years, manufacturers across the U.S. are increasingly sourcing components closer to home to bolster resilience and ensure product reliability.
KENTWOOD — A Grand Rapids-area manufacturing group that made recent and significant investments in the casino gaming machine industry has filed for bankruptcy after accumulating more than $10 million in debt.
Family-owned manufacturing companies are facing similar challenges as the industry at large as succession planning is complicated by an aging workforce.
When asked how his company is managing the fallout of a microchip shortage that has crippled the automotive industry, Neil Boehm paused.
Laurie Harbour compares life in today’s manufacturing industry to a game of whack-a-mole as company leaders find themselves addressing one problem only to encounter another.
As manufacturing continues to lead both in statewide and nationwide economic recovery, the sector will still need to address a chronic issue that has only worsened throughout the COVID-19 pandemic.
More than five years ago, Avio-Tech Ltd. quoted a project to produce control panels and components for industrial conglomerate Textron Inc.
The recent and sudden downturn in the automotive industry is likely to lead to a flurry of bankruptcies and sell-offs by distressed suppliers, not unlike what the industry witnessed on the heels of the Great Recession.
While the COVID-19 pandemic was quick to hit, instantly styming manufacturing throughout Michigan and the country, the bounceback will likely not be as swift.
Automakers are delaying or rethinking the timing of new vehicles as production disruptions caused by the global COVID-19 pandemic linger into the spring.
The collective outlook among automotive suppliers is moving deep into negative territory as trade tensions, declining volumes and weakness in the U.S. economy weigh on the minds of manufacturers.
‘SIGNIFICANT ASSET’: Amid slowdown in launches, new threats, West Michigan tooling industry braces for change
The challenges confronting Michigan’s tool, die and mold makers are deeply rooted. The state hosts more than twice as many tool and die workers compared to any other state, according to data from the Bureau of Labor Statistics. As the undisputed leader of the industry, Michigan also suffers the greatest consequences of its uncertainty.
TIME OF REINVENTION: Tool & die shops prioritize savvy investment strategies to avoid getting over-extended
While tool and die shop owners are hunkering down and tightening their belts in anticipation of a decrease in available work, some small- to mid-sized operations in West Michigan have already been forced to close their doors.
At Southfield-based Harbour Results Inc., Laurie Harbour leads a company of analysts and consultants who use data and experience to help small- to medium-sized manufacturers develop strategies to improve their operations, reduce risks and optimize business.
With 2018 shaping up as slower than expected for the automotive supply chain, West Michigan-based tool and die makers are embracing diversification to counter the cyclical industry.
JENISON — The changing automotive industry is forcing West Michigan manufacturer Dienetics to adjust how it does business.
WALKER — Citing increased demand from its automotive customer base, Betz Industries Inc. wants to expand its manufacturing capabilities at its sprawling West Michigan campus.
GRAND RAPIDS — Driven by customers’ needs to lightweight large components, Paragon Die and Engineering Co. is adding new equipment and expanding its facility in West Michigan.
While most economists still believe in the strength of the overall economy, some West Michigan manufacturers say their business has begun to soften, indicating a slowdown could be starting to emerge.
GRAND RAPIDS — Many West Michigan mold manufacturers are looking to get ahead of the oncoming wave of employee retirements by hiring more employees this year.
Competitive forces: Despite projections for a record 2018, tool and die suppliers brace for a cyclical downturn
With 177 new vehicle launches expected by 2020, tooling suppliers like Walker Tool & Die Inc. are bracing for another busy period in what’s been a string of good years for the industry.
The sector that provides the majority of tooling, fixtures and molds required to manufacture automotive components is facing a crisis.
The next two years are shaping up to be a busy time for tool and die makers in West Michigan and beyond.
MIDDLEVILLE — Backed by a new investment, Middleville Tool & Die Co. wants to ramp up its manufacturing capabilities that will pull it further away from its legacy business.