DETROIT, MI--(Marketwire - March 28, 2011) - Industrial hoist manufacturing may be the new harbinger of hope for industrial economic recovery, that according to the president and CEO of one of the largest hoist manufacturers in the United States, Industry Visions' WVSN Reports.
Since the world economic downturn, forecasts of recovery for industrial production have been as variable as the local weather forecast in any region of the country.
Complicated formulas and application of accrued data from economists have done little to predict the timetable for a return to normalcy in the US manufacturing sectors. New reliable prognostication may be emerging from current production activity at Harrington Hoists, an old line hoist manufacturing company in Manheim, PA.
Ned Hunter, President and CEO of Harrington Hoists, is bullish on domestic US manufacturing, and sees the stable healthy growth in their hoist sales as a precursor to new profits for American business. "At Harrington we have always been leaders, not followers. When you consider the fact that America is the world's largest manufacturing economy producing 21% of world products, and Japan being second with 13%, this team of Harrington Hoists and Kito Corporation already has a head start on success.
"We have a team of the most productive workers in the world -- in fact twice as productive as the next 10 manufacturing economies -- when we set the pace others follow. The hoist business is picking up; when looking at overall business through the lenses of material movement, things are starting to improve. Where do we get our predictions? They come from our research in studies of industrial capacity utilization.
"At the bottom of the economic downturn our research showed plant production capacity at only about 60%. Now those figures are approaching 74% and plant operators are seeing some economic daylight -- when they start to hover around 80 that's indicative of historic normalcy. We know every industry has something to lift or move; if they're in business it has to happen--and that means new hoists and cranes from Harrington.
"Harrington Hoists has been around since the 1800s -- we are a very American company and believe what's good for the USA is good for Harrington; that's why we are expanding our fabrication and manufacturing here in America. We also believe in new growth markets. One of our latest endeavors is the expansion of the Kito Americas brand into Columbia and Venezuela. Kito Corporation has given Harrington that new territory for expansion. Harrington's commitment to this project is full throttle. We have new Spanish speaking reps on hand here in Manheim for any service questions, and a fully translated website to service our new marketplace. The customers in South America are the beneficiaries of the Kito Americas brand. They will get the full cadre of Harrington service and their hoist products will arrive in just a week. So that pretty much sums up our economic growth predictions -- at least in this early part of the year."
WVSN Reports is an industrial news show highlighting the endeavors of American Industry.
Contact Information:
Contact:
Allyn Mark
WVSN Industry Visions President
Mobile: 810.358.6224
http://www.industryvisions.com