ROUNDTABLE
President Trump wants to bring manufacturing back to the US.
DS: Most industries will see some kind of impact directly or indirectly, but I think one industry that will be impacted for sure is metals. Steel, aluminium, and others are already being discussed and impacted based on tariffs with Canada.
OCH: Looking ahead over the next four years, what key challenges or disruptions do you foresee for the manufacturing and lifting industries? In responding to these changes, how do you anticipate the dynamics of the market and companies’ operational strategies will be reshaped? EF: Most companies will say that technical labour is the primary challenge. However, we view this as the largest opportunity. CraneTech is in the people business. It has been our ability to recruit, retain and develop exceptional people that has propelled our growth. As a company that is laser-focused on our safety culture, technician experience and training programmes, we believe we are well positioned to continue growing like wildfire across the US. At the end of the day, this is a technician-driven industry, and we are a technician-first company. KF: I would cite protectionism and broader geopolitical uncertainty here. The result of these could be, for example, production relocation or the changing of trade routes. DS: There are a lot of tailwinds for manufacturing and specifically lifting in the US right now. The
24 Spring 2025 |
ochmagazine.com
general subject of reshoring can and will create many opportunities. One area of concern would be if any of these policies and tailwinds cause inflation. Rising prices could, ultimately, slow down some of the momentum currently in place.
OCH: The revocation of previous environmental and energy-related executive orders, particularly the ones aimed at climate change and energy production, was a key tenet of Trump’s election campaign and remains a key part of his policy. How does this stance affect your company's operations in terms of permitting and regulatory compliance? EF: We will see a minor impact here internally. The larger impact will be the increased demand from our customers whose shackles are being removed. We are ready and prepared to support our customers as they grow and adapt to the new environment. KF: Konecranes is a global company with operations in more than 50 countries, and we operate in all countries according to the local legislation and regulations. Our commitment to reducing our climate impact is a core part of our operations and remains unchanged. We were recognised recently with the top leadership rating in the Carbon Disclosure Project’s annual survey. DS: The changes – or anticipated changes – won’t really impact us. Our footprint is pretty modest and, as you may have seen recently in
some of our posts online, we have a pretty robust solar power system in place, which allows us to do things like air condition our shop without taxing our local grid.
OCH: With the new administration, there is an emphasis on increasing domestic energy production, especially in fossil fuels and critical minerals. Do you foresee that this will fuel significant growth in demand for overhead cranes and hoists in sectors like mining, oil extraction and natural gas production? EF: Almost certainly. We have made proactive investments in markets like Midland, Texas, for oil and gas, and Elko, Nevada, for mining, to make sure we are well equipped to support our customers’ growth. KF: In our Q4 2024 earnings release in February, we said that the demand environment within our industrial customer segments has remained good and continues on a healthy level. I’m afraid that we don’t give specific outlooks for regions or business sectors. DS: I do see the potential for increased demand or at least continuing high demand for increased domestic energy production, in addition to the focus on domestic production of many things. Oil and gas in the US have long been a driver of economic expansion and all that goes with that, so I think it will definitely impact companies like Caldwell.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63
