Economy

After more than 30 years of working together, collet chuck producer BIG Daishowa Seiki Co. Ltd. (Osaka, Japan) and tooling provider KAISER Precision Tooling Ltd. (Rümlang, Switzerland) have solidified their longtime partnership in the European and Asian markets. The two companies have come together to create a mutually beneficial distribution network similar to the decade-old US-based BIG Kaiser Precision Tooling Inc, Hoffman Estates, Ill. BIG Kaiser Germany ran as a pilot project to test efficacy of such a model in the European market and the company's success paved the way for a larger European partnership executed through KAISER Switzerland. 

The Reshoring Initiative was honored by Frost & Sullivan's Manufacturing Leadership Council as one of the winners of the 2014 Manufacturing Leadership Awards (ML Awards) in the category of Industry Advocacy.

The National Institute for Metalworking Skills (NIMS), Fairfax, Va., announced that it awarded a record number of credentials last year to individuals seeking to enter into or advance in jobs in the metalworking industry. In 2013, NIMS issued 13,888 industry-recognized credentials, representing a 58.8 percent increase from 2012.

Owners of 3-year-old vehicles (2011 model year) report more problems than did owners of 3-year-old vehicles last year, according to the 2014 U.S. Vehicle Dependability Study^SM (VDS) released by market information services firm J.D. Power and Associates, Westlake Village, Calif.

Seco Tools, Troy, Mich., was recognized for participating in the John Deere Cost Reduction Opportunities Process (JD CROP), part of Deere & Company's Achieving Excellence program. The toolmaker received the honor for the quality of its cost-reduction ideas and for demonstrating its commitment to continuous improvement, according to Seco.

Economic activity in the manufacturing sector expanded in January for the eighth consecutive month, and the overall economy grew for the 56th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business. Yet, the January PMI registered 51.3 percent, a decrease of 5.2 percentage points from December's seasonally adjusted reading of 56.5 percent.

U.S. Senator Amy Klobuchar (D-Minn.), vice chair of the U.S. Congress Joint Economic Committee, released a new report detailing the revitalization in U.S. manufacturing. The report shows over 500,000 have been added jobs since February 2010, up 38% since 2009 and exceeding the industry's pre-recession peak for exports.

Bowling Green, Kentucky, Sept. 11, 2015 (GLOBE NEWSWIRE) — The Bowling Green Area Chamber of Commerce on Sept. 11 launched the On Track motorsports education initiative in conjunction with the Warren County Area Technology Center, Southcentral Kentucky Community and Technical College, Western Kentucky University and Holley Performance Products.