Toolmakers hit hard by auto industry slump, but ready to bounce back

08/03/2010

While the auto industry has taken its business blows the past few years, the tool and die suppliers to automakers have been hit even harder, said Jay Baron, president and chief executive officer of the Center for Automotive Research.

Nearly half of the tooling industry -- 45 percent -- has been forced out of business, he said during the auto industry’s Management Briefing Seminars Aug. 2 in Traverse City.

But the news is not all bad, he added. Those companies still standing have invested in new technology and automation to the point that they have “almost closed the gap” between ...

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