The two leading aircraft producers have performed no


better, with Boeing delivering 50 planes and Airbus 122 in Q1 2020, compared to 99 and 162 last year. Though Airbus is still planning a further reduction in plane manufacture, Boeing still aims to restart 737 production.


European aeroengine manufacturers are also struggling due to the reduction in the numbers of planes being produced and the dramatic reduction in plane flying hours impacting the spares market. Rolls-Royce plc has used the phrase “Black times are ahead” due to the above and their high reliance on the sales of the larger long-range aircraft. With the complete cessation in elective implant surgery


across the whole of Europe, Osteonic suppliers are reporting downturns of up to 60%. Two plants in Germany permanently closed in April. The only market which still seems to be holding is that for small arms refurbishment and manufacture driven by export demand. Overall, the Global Market for PIC is overwhelmingly


recessive. It is far too early to see light at the end of the tunnel even though some foundries are returning to work, orders are uncertain, and production is far from a normal operating rate.


Various Government schemes including furloughing


are helping the financial strain and ensuring people skills retention to a degree, but nobody knows how long the situation will continue.


The UK Government announced on the 12th May that furloughing will continue until October but from the end of July the 7 out of 10 UK Companies who have participated in the scheme will be expected to increase their financial contribution toward the salary bill, up from the current 20%. The offset will be the ability to have the employees working on a part time basis during this period. The scheme is currently being supported by the Government at a cost of £14bn per month.


One thing is for sure - No company will be the same after coming through this. There is already concern over the number of companies closing and the number of redundancies already being declared, and this is only potentially the tip of the iceberg. Ultimately the Government will determine the cost


which is being incurred and will then seek to replenish the coffers through trading income taxation and taxpayer’s future contribution. Many MBA theses will be written on how different countries, Governments and businesses have handled the Covid-19 Pandemic and the successes and the failures. Entrepreneurs who have identified a new niche market or


an under-developed market will grow and prosper. However, it will be tough for those who cannot ride out the storm to emerge leaner and stronger. Stay safe and good luck to everyone trying to lead their businesses through this period.


Magdalena Nizik Appointed EICF Vice Chairwoman


T


he EICF AISBL Annual General Assembly held on the 5 of June 2020, has appointed Mrs. Magdalena Nizik Vice Chairwoman of the European Investment Casters´ Federation. Mrs. Magdalena Nizik, a graduate of the National Louis University, is an experienced professional with solid background in industrial technologies and markets, innovation, general management, finance as well as government relations. She spent most of her professional career at General Electric working


with the Consolidated aviation,


energy and oil & gas sectors. Since 2016, Magdalena Nizik has been managing


Precision


Products in Poland dealing with precision casting for the aviation sector. Mrs. Nizik has also been the Scientific


®


Council Member for the Institute of Aviation in Poland since 2017. The EICF Chairman expressed his satisfaction on the election of Magdalena Nizik as Vice Chairwoman of the EICF. “No doubt that her professional experience together with her commitment to the EICF is bound to bring forward a new momentum to the association, in particular in a period of difficulty to the European Investment Casting industry”. Together, the EICF Board expressed their gratitude to Mr. Ingo Bitzer for his excellent contribution and service during the last years in his role as EICF Vice Chairman. Mr. Ingo Bitzer shall be continuing supporting the Investment Casting industry as a Board member of the EICF.


June 2020 ❘ 13


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