FIA’s 2019 Forge Fair was another great success for Onex! Meeting new customers and visiting with familiar faces is something we look forward to each year. Every booth had exciting news and information to share with us. The future of forging is looking bright!
US forge industry growth and overall economic confidence were the topics of conversation at this year’s fair. Everyone seemed positive and optimistic about the industry outlook. After experiencing slowdowns for the past decade, companies are finding new ways to strengthen their position in the marketplace. While competition remains fierce, forgers are finding innovative ways to stay on top.
What’s the word?
Key insights & hot topics:
- Lots of new and exciting partnerships! Like other industries, Forgers are consolidating but this also allows businesses to form strong and diversified businesses; and to offer turnkey solutions.
- The economic slump is over, and companies are comfortable spending again. Using capital in the right areas is an essential part of an effective business strategy. One area of capital investment is new equipment which helps companies expand their base through broader product offerings.
- Be aware and prepare! The forging industry is booming again, and your plant may be seeing a full production line for the first time in a long time. Machines are working hard, requiring more routine maintenance and repairs. Avoid costly emergency shutdowns by scheduling shutdowns and repairs.
- The “Silver Tsunami” is on the way. Discussions on preparedness and how to confidentially sendoff retirees were popular throughout the fair. Discovering solutions for filling the workforce pipeline will be vital in overcoming the baby boomer hurdle.
The show’s over, now what?
The FIA forge fair produced plenty of exciting news for the forging industry. However, successfully navigating through this flood of information will be the challenge. Are you equipped to go it alone, or in need of a helping hand? Onex is uniquely positioned to help your company grow in this period of revitalization. We have the experience and know how to point you in the right direction.
- Consolidation sounds like a quick solution, but do the big guys know you like we do? Many customers experience integration challenges right off the bat. You have your way of doing things, and so do they. Onex works to help them understand you better. We will act as a go-between to keep things running smoothly while you focus on improving.
- Are you spending wisely? Onex can help you decide what machines and technologies are worth your investment. Don’t waste money on old systems, invest in new tools that will add to your product line. Onex can also help you design and build. We offer product development as well as everyday servicing.
- Your equipment may need a tune-up. Our technician team will perform thermal imaging scans and present you with a Failure Analysis. Your quality control is our job, so let us keep you moving.
- Lack of manufacturing education has led to a shortage of qualified workers. Paired with the baby boomers retiring, where does that leave you? Onex offers a solution for outsourced maintenance that can help you fill the employment gaps.
Get Onex on your side
We were widely impressed at this year’s FIA Forge Fair and remain optimistic for the future of forging. Now that the excitement has settled, we see that there is some work to do!
Did you come home from the show with a plan? A new idea or technique? More than likely, your completion did too. However, you can change that by adding the Onex advantage. We will work for you and with you to manage your partnerships, help you invest wisely, repair machinery, and maintain a strong staff.
Contact Onex today to learn what we can do for you.