Production Machining’s October 2021 News Highlights

Organizers for the Precision Machining Technology Show (PMTS), held August 10-12,2021, in Cleveland, Ohio, have released official attendance numbers and participant demographics, which they say demonstrate a solid confidence in the metalworking markets.

The numbers also represent a deep-seeded commitment to growing the precision machining industry, despite the uncertainty of current global conditions, organizers say. The 2021 event attracted 5,282 registrants, including 3,721 attendees and 1,561 exhibitors.

Organizers are very satisfied with those results. “Going into this year’s event, even amid news of a COVID-19 resurgence, our pre-registration data indicated that we were only a mere 15% off from our best event ever (in 2019),” says Allison Kline Miller, chief events officer for Gardner Business Media, which helped organize the event. Read more about the show results.

Here Are More News Highlights:

U.S. Reshoring Poised to Surge 38% to Record High — The Reshoring Initiative has released its IH2021 Data Report which indicates that reshoring is poised to surge 38% to a record high. According to the report, the pandemic has spurred a national push to strengthen the domestic supply chain, especially for essential products, driving reshoring numbers higher. If 2H2021 progresses at the same rate as 1H2021, reshoring and foreign direct investment (FDI) job announcements for 2021 are projected to be over 220,000, which is 38% above an excellent 2020 and, by far, the highest yearly rate recorded to date.

Sandvik Coromant Opens New U.S. Headquarters — Sandvik Coromant opened a new Sandvik Coromant Center in Mebane, North Carolina, in conjunction with moving its U.S. headquarters to the same location. With approximately 170 employees, the updated 167,000-square-foot facility houses an existing production unit, the new tech center and corporate offices, all in one common location.

Hardinge Inc. Acquires Ohio Tool Works — Hardinge Inc. and Ohio Tool Works (OTW) have completed a definitive agreement under which Hardinge has acquired OTW. This acquisition enhances Hardinge’s machine tool and workholding portfolio with a platform of high-precision honing machines, tooling and abrasives.

Renishaw, CCAT Partner to Accelerate Technology Adoption — Renishaw is partnering with the Connecticut Center for Advanced Technology Inc. (CCAT) to assist manufacturers on their Industry 4.0 journey. CCAT is an applied technology demonstration and training center which validates, demonstrates and assists with the adoption of leading-edge industrial technologies into the global manufacturing supply chain. The two organizations will assist businesses in executing new manufacturing strategies and accelerating the implementation of new digital technologies.

GWS Tool Group Acquires Monster Tool Co. — GWS Tool Group has acquired Monster Tool Co. This is the fourth acquisition in 2021 for GWS Tool Group, and the second West Coast acquisition by the U.S.-based manufacturer. Monster Tool manufactures and distributes solid round cutting tools for aerospace, automotive, medical, energy, heavy equipment and die-mold.

Women in Manufacturing Hall of Fame 2021 Inductees Named — The Women in Manufacturing Education Foundation (WiMEF) has announced the 2021 class of Women in Manufacturing Hall of Fame inductees. The group of nine outstanding leaders will be officially welcomed to the Hall of Fame with a ceremony and gala Oct. 6, 2021, as part of WiM’s 11th annual Summit in Cleveland, Ohio.

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