While plummeting oil prices over the last month have led to relief for consumers at the pump, the news has been mixed for West Michigan manufacturers, particularly for suppliers of the oil-and-gas industry.
As automotive production and the industry’s supply chain grows in Mexico, one mid-Michigan manufacturer of custom casters and wheels decided to engage in a foreign market for the first time in the company’s history.
After running as lean as possible in the years following the recession, West Michigan manufacturers are embracing acquisitions as a strategy to add capacity and meet customer demand. That was the case for Grand Rapids-based Mill Steel Co. when it acquired certain assets of S&S Steel Services Inc. of Anderson, Ind.
In court documents filed in the U.S. District Court for the Eastern District of Michigan earlier this month, Haworth alleges that Cypress, Calif.-based Exemplis Corp., which does business as SitOnIt Seating, “intentionally designed” its Rio task chair to resemble the Very Side chair.
Automotive component suppliers have struggled with customer demands for price reductions on existing business and in conjunction with new contracts since GM began the practice almost 20 years ago.
Over the last decade, the manufacturer and assembler of panels, benching and other office furniture systems had spread out over four different buildings. When Compatico recently faced the need to expand again, the company weighed purchasing an additional building or moving its operation to a singular, larger facility. Executives ultimately opted for the latter option.
Spurred on by increased demand for its industrial welding equipment, Wyoming-based RoMan Manufacturing Inc. needed to expand. Luckily, the company had several options at its disposal to fund that growth, according to President and CEO Bob Roth.