Thor Industries CEO on the manufacturing boom in the U.S.

Thor Industries CEO on the manufacturing boom in the U.S.

Dec 4, 2017

  Featured on Fox Business Thor Industries CEO Bob Martin on the manufacturing industry and the company’s latest quarterly earnings report.         Watch the latest video at...

Tech Advances Drive Manufacturing Investments Back to U.S.

Tech Advances Drive Manufacturing Investments Back to U.S.

Oct 30, 2017

By Andrew Soergel, Economy Reporter, U.S. News Advances in artificial intelligence and industrial production are reshaping the world’s manufacturing landscape. Manufacturing at long last is enjoying a revitalization in the U.S. as companies from around the world invest in the country’s operations – a key development in President Donald Trump’s quest to make America great again. But presidential policies may not be the primary driver of the manufacturing shift back to the U.S. – and an industrial return isn’t expected to create nearly the same number of jobs that factory floors maintained in decades past. It appears to be technological innovations, rather than policies or an availability of labor, driving the manufacturing renaissance. And with operational advances extending well beyond the reaches of Silicon Valley and into Rust Belt communities in the Northeast and Midwest, many believe the country is well-positioned to be a leader in advanced manufacturing for years to come. “The reason is, candidly, it’s less about the manufacturing people. It’s more about the technology,” Mike Marusic, COO of Sharp Electronics, said Wednesday during an event hosted by Bloomberg. Marusic said Sharp is one of several companies that has chosen to increase investment in the U.S. rather than seeking out “traditional manufacturing places” like China and Thailand in recent years. Other companies include medical device manufacturer Insulet – which broke ground last month on a new central Massachusetts facility that’s expected to bring hundreds of jobs to the area after spending several years operating a production outfit in China – and General Electric, which has tweaked investment plans in recent years to funnel more resources into U.S. facilities rather than in countries with historically lower labor costs like Mexico and China. Even Foxconn, a Taiwan-based electronics manufacturer that helps assemble popular products like iPhones, recently announced plans to build a Wisconsin facility and develop operations in the U.S., despite its proximity to what have historically been considered countries with cheap labor. The Reshoring Initiative advocacy group estimates 338,000 jobs migrated to the U.S. from overseas between 2010 and 2016. The country on net is estimated to have gained 25,000 manufacturing positions last year – meaning more jobs returned to the U.S. than were offshored in 2016 for the first net gain in years. At...

Hankook Tire opens its first US manufacturing plant

Hankook Tire opens its first US manufacturing plant

Oct 19, 2017

By Traction News Staff Hankook Tire held its grand opening ceremony for its first manufacturing facility in the U.S., underscoring its commitment to technology, innovation and growth in North America. The development of the Tennessee Plant is integral to Hankook’s strategic vision of becoming a top-tier tire brand, while providing high-quality, made-in-USA products to its customers. The grand opening celebration took place at the facility in Clarksville, Tenn., and was attended by State of Tennessee Governor Bill Haslam, United States Representative Marsha Blackburn, Korean Consul General Seong-jin Kim, and several other prominent state and local officials. The Tennessee Plant is Hankook’s eighth plant worldwide and joins a global footprint of state-of-the-art manufacturing that serves customers globally. The plant’s first phase will produce 5.5 million units annually, enabling Hankook to more efficiently provide tire dealers and consumers with high-quality tires and industry-leading services to meet the demands of the American market, while supporting existing and future Original Equipment (OE) partners. The plant has already brought nearly 1,000 jobs to the local economy, a total that is expected to climb to 1,800 as infrastructure expands. In addition, Hankook moved its American headquarters to Nashville last year and has hired more than 100 local employees to oversee operations there. “The new Tennessee Plant signifies Hankook Tire’s growing business in the United States and continued journey toward being a global leader in the tire industry,” said Seung Hwa Suh, Global CEO of Hankook Tire. “Our investment in the U.S. is part of our ongoing commitment to innovation, state-of-the-art technology and service for our customers. This high-tech, sustainable facility will enable Hankook to execute every phase of business in the U.S., from R&D to production and sales.” Hankook incorporated sustainable design and construction practices into development of the 1.5 million square foot facility, which sits on 469 acres. Leveraging top-tier technology and highly automated processes, the Tennessee Plant will produce Passenger Car Radial (PCR) and Light Truck Radial (LTR) tires from Hankook’s extensive North American lineup, including the KINERGY PT, a premium touring all-season tire and Hankook’s first tire made in the U.S. “Hankook Tire’s new plant brings tremendous economic growth and opportunity for Tennesseans,” said Tennessee Governor Bill Haslam....

Manufacturing jobs booming, but may be harder to fill

Manufacturing jobs booming, but may be harder to fill

Oct 6, 2017

By Suzanne O’Halloran, Fox Business When South Korean appliance giant LG broke ground for a new one-million-square foot washing machine factory in Clarksville, Tenn. in August, Commerce Secretary Wilbur Ross was side-by-side with LG North American President and CEO William Cho cheering a project that is expected to create 600 jobs and perhaps many more in the years ahead. “Our Clarksville factory has great potential to expand to produce other products beyond just washing machines,” said William Cho President & CEO LG North America during an interview with FOX Business. “We have 310 acres…and our new washing machine facility will occupy just one-quarter of that when it opens in early 2019. The other three-quarters will have potential to extend additional LG home appliances.”   The plant, LG’s largest in the U.S., is set to open in the first quarter of 2019 and will add 600 well-paying jobs manufacturing jobs to the U.S. pipeline with potential for more. Cho says the company will focus some of its recruiting and hiring efforts on nearby Fort Campbell to tap what he describes as military veterans that are “skilled workers”.  Additionally, the company also announced plans to open an electric vehicle component factory in Michigan, creating an additional 300 new jobs, and is building its North American headquarters in Englewood, New Jersey which should double local employment to 1,000 jobs. LG joins a growing list of global companies coming to the U.S. to open factories to the delight of President Donald Trump. Earlier this year Foxconn, the Taiwanese Apple (AAPL) supplier, announced plans for a Wisconsin plant that is expected to create 3,000 new jobs, while Toyota (TM) and Mazda announced a joint-venture plan to build a $1.6 billion U.S. assembly plant promising 4,000 new jobs starting in 2021. These future factories may help continue the U.S. manufacturing sector’s momentum as the country makes more goods, but its job growth may not carry the same momentum. “Job growth may not be staggering, but we could staunch the bleeding.  Could we boost manufacturing output, produce more stuff? Yes,” former White House director of economic policy under George H.W. Bush Todd Buchholz tells FOX Business. Automation and technology is also creating a...

After decades of pushing bachelor’s degrees, U.S. needs more…

After decades of pushing bachelor’s degrees, U.S. needs more…

Aug 30, 2017

“After decades of pushing bachelor’s degrees, U.S. needs more tradespeople” By Matt Krupnick, The Hechinger Report FONTANA, Calif. — At a steel factory dwarfed by the adjacent Auto Club Speedway, Fernando Esparza is working toward his next promotion. Esparza is a 46-year-old mechanic for Evolution Fresh, a subsidiary of Starbucks that makes juices and smoothies. He’s taking a class in industrial computing taught by a community college at a local manufacturing plant in the hope it will bump up his wages. It’s a pretty safe bet. The skills being taught here are in high demand. That’s in part because so much effort has been put into encouraging high school graduates to go to college for academic degrees rather than for training in industrial and other trades that many fields like his face worker shortages. Now California is spending $6 million on a campaign to revive the reputation of vocational education, and $200 million to improve the delivery of it. “It’s a cultural rebuild,” said Randy Emery, a welding instructor at the College of the Sequoias in California’s Central Valley. Standing in a cavernous teaching lab full of industrial equipment on the college’s Tulare campus, Emery said the decades-long national push for high school graduates to get bachelor’s degrees left vocational programs with an image problem, and the nation’s factories with far fewer skilled workers than needed. “I’m a survivor of that teardown mode of the ’70s and ’80s, that college-for-all thing,” he said. This has had the unintended consequence of helping flatten out or steadily erode the share of students taking vocational courses. In California’s community colleges, for instance, it’s dropped to 28 percent from 31 percent since 2000, contributing to a shortage of trained workers with more than a high school diploma but less than a bachelor’s degree. Research by the state’s 114-campus community college system showed that families and employers alike didn’t know of the existence or value of vocational programs and the certifications they confer, many of which can add tens of thousands of dollars per year to a graduate’s income. “All throughout high school, they made it sound like going to college was our only option.” Derrick Roberson, who is training to...