Things You Should Know
Industrial Manufacturing – Industrial Magnets
Justin Misaras had a nice conversation with Kevin Beckerdite, Product Manager with Walker Magnetics Group.
Kevin shared some interesting industry insight, “Our business is heavily reliant on heavy manufacturing, more specifically in metalworking. We primarily service the steel market and 2019 was a great year for their business, driven by a lot of higher utilization in the marketplace, every steel mill seems to be running nearly at capacity. A lot of it having to do with tariffs being applied in the recent past.”
They are an example of an American manufacturing company who has benefited from the US government tariffs.
But like any economic cycle, it does not last forever, and they are seeing a potential softening.
Beckerdite added, ”We are expecting investments to slow down over the next year or so, as manufacturing is slowing down just a bit.”
It will be interesting to see how the year shakes out, with so many factors in play, including tariffs and a presidential election!
#SCNrecruiting #industrialmagnets #metalworking