buyCASTINGS.com
SiteMap What's New Feedback Request Info Staff Contact Us
Issue 18 CAST EXPO 2008, Spring Edition Print Version
 
Buyers of Metal Castings
Buyers/Designers Home
Buyer Benefits
Reduce Development Costs
How to Request A Quote
Request A Quote
 
Foundries
Foundries Home
How buyCASTINGS works for You
Foundry Benefits
Energy Cost Reduction
 
Suppliers to Foundries
Suppliers Home
How buyCASTINGS works for You
Supplier Benefits
Growth in the global markets…OR MAYBE NOT
By Neil Chaudhry
buyCASTINGS has doubled revenue three times in the past four years NOT because of the global growth but primarily because of the orders for our foundries right here in the USA! "…WHO WOULD HAVE THOUGHT IT?"
Everyone thought that the internet would allow us take casting orders to China and India and Brazil…NOT REALLY TRUE. Yes, the internet made it easier for someone to shop, search, and procure but ultimately where people buy is where they find value, quality, and human service (like people who can speak in English…simple STUFF like that.)
While the media talks about the FINANCIAL CRISIS, THE CREDIT CRUNCH, THE VOLATILE MARKETS, AND THE MORTGAGE MELT DOWN, our foundries are seeing some of the strongest growth and order stream in 10-years. Yes, we are affected by the crazy metal prices, and the cost of energy going through the roof BUT the demand for castings in the niche markets that we serve is as high as or higher than ever in history. We do almost everything except automotive stuff…we stayed away from that from day one. We choose to work with buyers that understand what's good for them is also good for the supplier - a profitable relationship. We also innovate, create, and add value with respect to quality, cost, and quick turn around and follow through!!

At buyCASTINGS, we do not make any cold calls…the vast majority of our buyers come from word of mouth. Yes, we are one of the dot coms that survived but we have never relied on the internet or on our website alone for leads or business or customers or orders. We realized very early on in the dot com mania that it was NOT about B2B (Business to Business e-commerce, as people used to refer to us) INSTEAD IT WAS ABOUT P2P (PEOPLE TO PEOPLE.) The internet was and is just a tool to make life easier…no different than the fax machine, cell phone, or computer.
SO HERE IS WHAT WE SEE GLOBALLY…

Europeans are coming to the USA -- not just to visit Disney World but to set up manufacturing plants, procurement offices, and buy goods here for export to Euro-land and for sale in the US.

Indians are too busy serving their domestic market - foundries there are growing at 20 to 40% or more per year, primarily by serving the domestic demand and not necessarily looking to export to US.

Chinese prices are going up fast -- as the subsidies are going away, currency conversion is not as favorable, AND the prices of metal and energy are much higher.
Recent McKinsey Global Institute research showed several critical long-term trends, such as increased ties between the financial markets of the developed and emerging worlds, the shift of financial weight in Asia from Japan to China, the Euro zone's growing financial clout, and the growing financial role of Middle Eastern countries (thanks to our non-stop appetite for middle east oil, shame on us).
YET HERE ARE THE FACTS:
  • The value of financial assets in emerging markets reached $24 trillion in 2006.
  • Japan accounted for just 6 percent of foreign investments in emerging Asian countries.
  • The Euro-zone accounted for 44 percent of the growth in cross-border investment from 1996 to 2006.
  • The value of euros in circulation surpassed that of dollars in April 2007.
Despite the flourishing of the Euro zone, China, India…the United States remains the world’s largest financial market and we see a bright future for our manufacturing and foundry sectors….Sorry but the pundits and the professors are wrong in predicting the death of manufacturing in the US.

  Buyers/Designers | Foundries | Suppliers | Investor Relations
eStore | Newsletter | Brochures | Energy Cost Reduction

Best Viewed With
Internet Explorer
IE Logo

Managed by MCGbrands © Copyright 2007
Please Read Our Privacy Policy
Contact