Introduction

Introduction

Tool and die/precision machining industry trends are amazingly uniform worldwide.Business is tough almost everywhere, but getting better. The International Tooling &Machining Association represents thousands of companies from around the world where they exchange information and ideas to strengthen the mold making industry as a wholeand ensure its long-term success.

The tool and die industry conditions in most of the developed and developing countriesare surprisingly similar to those in the U.S. and Canada. At the ISTMA (InternationalSpecial Tooling & Machining Association) 2005 Board Meeting, held in Melbourne,Australia, each country reported the status of its market, focusing primarily on tool anddie, and secondarily on precision machining.

The consistent message from almost all of the developed countries and many of thedeveloping countries was

• Manufacturing is not appreciated.
• A shortage of skilled workers.
• Volume had fallen off and has recovered the last one to two years.
• Profits are down.
• Competition from China..

Separate reports from China also show some similarities, with skilled labor shortages, margin shrinkage and a need to increase prices to cover rising costs.