The Performance of Manufacturing Index (PMI) result for June has just been released by PriceWaterhouseCoopers and Australian Industry Group, with a 48.9 being recorded. This is the eighth consecutive monthly contraction.
Remaining firmly above the US$0.90 mark (US$0.94), the Australian dollar’s strength has dampened the sharp rise witnessed to the PMI in May, albeit remaining below the breakeven result of 50.
The food and beverage sub-sector remains the shining star of the entire manufacturing sector, recording an expansionary 52.5 after an unexpected contraction in April.
Wood and paper products also expanded, following on from a similar positive result for the previous month.
All other sub-sectors recorded a contraction for June, including those that had expanded in May (Petroleum, coal, chemicals and rubber products, Non-metallic minerals, and Textile, clothing and other goods).
Once again there is a continued gulf between input costs and selling prices, which remains unsustainably high.
Much has been made of the impending cessation of the carbon tax, with it’s removal expected to increase the competitiveness of local manufacturers. This is especially the case where local manufacturers are competing directly with importers. However, any result is still many months down the track.
To download a two-page précis of the report, click here…PMI June 2014
As a supply partner to Bonfiglioli, at All Torque we are proud of not only our association but also of where Bonfiglioli has come from. Bonfiglioli’s evolution is continuous, and we are honoured to be a part of it.
1956 – Bonfiglioli is founded in Bologna by Clementino Bonfiglioli
1964 – The RAE series dual-stage planetary gear unit is designed and patented
1975 – Acquisition of Trasmital, a manufacturer of planetary gear units for diggers, road pavers and wind turbines
1982 – Bonfiglioli starts its internationalisation strategy, leading to the opening of branch offices worldwide
1993 – Bonfiglioli obtains both DNV and TUV Quality System Certification
1995 – The innovative modular C-A-F series are showcased at Hannover, which speeds up the program to decentralise production to local branches
1999 – The Bonfiglioli Transmission Pvt Ltd. factory is opened in Chennai, India
2000 – Launch of Mosaico, Bonfiglioli’s innovative e-commerce portal
2000 – Bonfiglioli alliance with All Torque Transmissions
2001 – Through the acquisition of Vectron, Bonfiglioli gains a foothold in the electronics sector for motion control systems
2002 – Bonfiglioli sets up a network of qualified distributors in Italy and abroad with the Best brand
2003 – Acquisition of Tecnoingranaggi, a manufacturer of low backlash gear units
2004 – Dun&Bradstreet award rating 1 in recognition of the high level of reliability achieved by Bonfiglioli
2005 – Construction of the first of three factories begins in the Slovak Republic
2006 – Bonfiglioli celebrates its 50th anniversary: confirmation of the company’s success
2007 – Bonfiglioli Italia SpA assumes direct control of the Italian market
The staff at All Torque Transmissions would like to congratulate Richard Walker on his appointment as WEG Australia’s Sales and Marketing Director, as well as to WEG’s Board of Directors. This appointment has been in effect since the 1st of June, 2014.
Walker comes to the role to fill the void left by newly-promoted Djama Wolf, whose passport has a new stamp on it as he takes up the position of Director of WEG Energy products in Germany. Both appointments continue WEG’s history of promoting from within.
Without question, Walker’s resume is very impressive, having previously served as National Business Partner Development Manager at WEG Australia. His previous roles also have seen him handle everything from the commissioning of large equipment to product and brand development, as well as a stint as the state manager for WEG in Queensland.
WEG Australia continues to strengthen its position in the Australian marketplace, lead primarily by development in electric motor and drives technology. All Torque Transmissions has been a long-time partner of WEG, keeping stocks of electric motors and drives at both Braeside and Preston, to cover all of Melbourne and Victoria.
