Page 9 - Metalorming Magazine January/February 2023

News Fronts
Agreements
Stamtec Partners with Dynamic Metalform Solutions
Stamtec, Inc. has teamed up with capital-equipment provider Dynamic Metalform Solutions, Corinth, TX, and technical sales specialist Jason Wilson. The firm supplies metal stamping press- es, modular transfer systems, coil-handling lines and press feeds, press controls and safety equipment, lubrication equipment, con- veying systems, and more.
Enprotech Acquires American Hydro
Enprotech Corp., Cleveland, OH, which provides maintenance, repair, rebuild and modernization solutions for heavy industrial machinery and equipment, has acquired American Hydro, York, PA, a provider of custom hydropower-refurbishment solutions and turbine services. Says Chris Pascarella, Enprotech president and CEO: “The entire organization is extremely excited to add Ameri- can Hydro to our collective portfolio of businesses focused on the maintenance, repair, rebuild and modernization of heavy industri- al equipment. American Hydro expands our industry segmenta- tion into the renewable-energy sector, a key growth category for Enprotech.”
Subject to regulatory approvals, completion of the transaction is expected during the first half of 2023.
Market Outlook
Reshoring and FDI Set New Quarterly Record,
on Track for a Record-Breaking 350K Jobs in 2022
Q3 2022 data, provided by the Reshoring Initiative, indicates that reshoring plus FDI (foreign direct investment) job announce- ments were at the highest rate ever recorded, about 15 percent above Q1 2022, the previous record. 4Q 2022 looks strong enough to reach a 2022 total of 350,000+ jobs. Top takeaways:
• Projected 350,000 reshoring jobs announced for 2022.
• EV battery investments make electrical equipment the top industry.
• Private and federal entities are investing in skilled-workforce development, addressing one of the leading barriers to success.
• With the Inflation Reduction Act, Chips Act and Infrastruc- ture Bill, the U.S. government finally is getting started on an industrial policy.
In 2021 the private and federal push for domestic supply of essential goods propelled reshoring and FDI job announcements to a record high. Projections from Reshoring Initiative 2022 Q3 data show reshoring and FDI continuing these gains. The current 2022 projection of jobs announced is around 350,000—another record, an increase from 260,000 in 2021. If the projection is achieved, 2022 will bring the total jobs announced since 2010 to more than 1.6 million.
6 MetalForming/January/February 2023
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