New PMA Metalforming Insights Report Reveals Industry ReboundApril 16, 2021
The Precision Metalforming Association (PMA) has released its first quarterly Metalforming Insights report, prepared by Harbour Results, Inc. (HRI) and Plante Moran. The Q1 Metalforming Insights survey collected data on financial performance and KPIs from nearly 100 metal forming-industry companies of various sizes. Experts at Harbour Results and Plante Moran analyzed the data and created a robust report containing helpful analysis for manufacturers.
“PMA is thrilled with the successful launch of our new Metalforming Insights surveys and reports,” says PMA President David Klotz. “Member participation was the highest for a PMA survey since 2014. I expect participation in future surveys to continue to increase as members realize the invaluable information provided in the enhanced reports.”
A few findings from the Q1 Metalforming Insights financial survey:
- The industry seems to be rebounding nicely in 2021 after a difficult 2020. Sentiment is up, capital spend is planned and utilization has increased, all pointing to a healthier industry.
- The report also finds that average efficiency for metal formers declined in 2020, due to continued hiring even as sales began to soften--headcount was not adjusted in pace with sales.
“Having access to this type of benchmarking information is critical as manufacturers face a challenging year ahead,” says Laurie Harbour, HRI president and CEO.