Last year was a time of strong growth for the Finnish metal industry. However, the growth was somewhat reduced due to three significant contributing factors. Many components were not available. Also, it was difficult to employ new workforce and some raw materials were difficult to get.
The beginning of 2018 was still a time of strong growth in the Finnish metal industry. However, the growth seems to have stabilized through this autumn. All in all, our total invoicing was still at a good level, but open orders have somewhat decreased. This shows clearly at Jame-Shaft in August, invoicing was still very good in August but the number of orders had already decreased somewhat. Compared with last year, total invoicing was less in September and October than the year before. Partly, it is due to normal seasonal fluctuations, but also, we have had the lowest sales figures often in October for several years in a row. From there on, the orders have increased gradually towards the spring. Nevertheless, it is clear, that invoicing this autumn won’t increase compared with the same period last year.
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Last year was finally a time of strong growth for the metal industry. The change was rapid, which resulted in competition for resources, especially in work force and raw material. The only thing hindering an even greater growth was insufficient capacity, not a lack of demand. The reason for insufficient capacity lies in the fact that workshops have not been investing in new machinery over the past ten years or so. This has particularly shown-up as a decreased service level for customers. At the same time, new machine investments have been made and new staff employed. However, it takes some time before the new resources can be fully exploited and service levels restored.
There has been a turn for the better in the Finnish economy after a long wait. The improvement already started at Jame-Shaft by the end of last year, with the situation improving significantly in the metal industry since the spring and summer. The only thing slowing down the growth is really, insufficient capacity. Investments in various metal workshops have stayed at a low level for a long time and, therefore, the required capacity, i.e. what we had in 2008, cannot be reached. However, machine investments have started again, but it will take some time before the new machines are up and running.
As the summer is approaching, we’d like to wish you a sunny and successful spring and summer of 2017. The Finnish economy is finally improving and many experts are predicting an even bigger growth in the economy than before. This shows well in the Finnish metal industry where a growing number of companies are working at full capacity. There is, of course, a slight uncertainty in the market, both in Finland and elsewhere. The relations between the two Super Powers are intense, North Korea is behaving aggressively and today terrorism is a reality even in the Nordic countries. In Finnish industry, a hot topic of discussion is the labour union negotiations this autumn. This will have an effect on all the companies in the industry, even though many firms are doing well and have a positive outlook for the future. One clear sign of this is that many workshops have started investing in new machinery.