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60
ANALYSIS
“In order to survive, “…companies that
companies have to diversify
withstand this crisis will
their products, look for
come out stronger with
new sales markets, fi nd
better solutions to the
possibilities for capturing
industry. We just have
new technologies and
to be patient…”
materials, which will allow
Yair Wiesenfeld
them to cut the prime cost
Videx Machine Engineering,
of their products.”
Israel
It was 1992 when Videx faced the fi rst serious crisis. We
Konstantin Anatolyevich Fedorov
exported over 50% to a Japanese market that collapsed overnight
and left us without work. As a consequence, we decided to expand
vice-principal for marketing, our markets and never again rely on one single market. This proved
BelZAN, Russia
a good policy for many years until the recent crisis.
In September 2008 we were in the course of good and
The implementation of EU protective measures against fastener
interesting negotiations with some leading companies in the
imports from China, resulted in a concentration of stock volumes at
fastener, wire and construction industries. We were surprised that
the warehouses of the big European traders. The world fi nancial crisis
resulted in a violent reduction of fastener demand. Consequent N-fold
almost 100% of the negotiations stopped and everyone decided to
price reductions pulled down profi t for both producers and traders.
sit on the fence and wait until things clear up.
The fastener industry should learn the necessity to work in several
Most of the projects that we have been working on are quite
market segments and to organise direct supplies to fi nal consumers,
strategic for the customers and involve new concepts and innovative
avoiding traders.
technologies rather then expansion of production capacity. The
If in the longer term producers make little or no profi t, it will cause
European market has been searching for new technologies and
problems for the further development of production, technologies,
innovative products and production methods while keeping labour
and modernisation of equipment. Trying to survive, the producers
to minimum. This gives us the hope that as soon as the economy
will continue their struggle with traders for the fi nal consumer. The
shows signs of recovery, we will be busy again. We believe that
number of traders will reduce, and companies with small volumes will
companies will have to invest in new technology to stay competitive
withdraw from the market.
and this will lead to sales of machinery necessary to achieve this goal.
Surmounting the crisis and reconstructing production volumes will
We have been using this hard time to design quick-change
take more than a year. Probably some small producers will liquidate.
machinery for short production batches and for development of
In order to survive, companies have to diversify their products,
some new ideas that we had no time to work on during the last years.
look for new sales markets, and fi nd possibilities for capturing new We believe that companies that withstand this crisis will come
technologies and materials, which will allow them to cut the prime out stronger with better solutions to the industry. We just have to be
cost of their products. patient…
“Companies need to take risk management on
the procurement side more seriously and focus on
extending their supplier base in number and region.”
F. Reyher Nchfg. GmbH & Co. KG., Germany
Looking back over 2009 the important decreased drastically. tracing, dual use, inspection certifi cates, and
events were the decision of the EU to apply What should be learnt is that it is fi rst sample reports.
anti-dumping duties on fastener imports important to have a balanced market We see a development from ‘normal’
from China combined with the economic approach and a diversifi ed customer base. trader to fi rst tier supplier with process
downturn. Unusual high stock levels that Companies need to take risk management requirements, as it is already common in the
required corresponding fi nancial resources on the procurement side more seriously and automotive industry.
from all players in the fastener industry had focus on extending their supplier base in The industry will be more heavily
a very negative impact on the cash fl ow number and region. Procurement activities regulated in the future. Compliance issues
situation due to the signifi cant decrease should be spread worldwide and should not will require additional competence and
in the overall demand. Consequently, focus only on one special region. favour larger importers in the long run.
competition became fi ercer, hence prices The fastener industry will face more In 2010 we expect moderate growth in
dropped and the overall profi tability complex requirements, for example batch comparison to 2009. Small and midsize
Fastener + Fixing Magazine • Issue 61 January 2010
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