PRODUCT GUIDE

UPCOMING EVENTS

September 14-17, 2015
WMMA Board/Committee Meetings & DC Fly In
Arlington, VA
Contact WMMA for more information DC Fly In Resources

April 12-15, 2016
Woodworking Industry Conference (WIC)
CasaMagna Marriott Cancun Resort
Cancun, Mexico

LATEST NEWS FROM NAM

National Association of Manufacturers Monday Economic Report: August 24, 2015
The Dow Jones Industrial Average reached an all-time high at 18312.39 on May 19. Since peaking three months ago, the stock market has fallen nearly 10 percent, closing at 16549.75 on August 21, and is poised for more losses today. Read more ...

Manufacturers' Outlook Survey - Second Quarter 2015
The results indicate the manufacturing economy is growing, but at a much slower pace than the more robust levels experienced just a few months ago. The results also serve as an indicator of continued economic and political headwinds that manufacturers face. Find out more about the numbers and what they mean by visiting the survey's new landing page.

INDUSTRY NEWS

Woodworking Network
U.S. Wood Pellets To Fuel British Subsized Power Plant
 
LONDON - Macquarie Capital and Macquarie’s Commodities and Financial Markets group say they signed an agreement to support MGT Power Limited in the financing of the 299 megawatt renewable energy plant. To be located in Teeside, UK, the project has received a UK Government-supported Contract for Difference financial aid.
 
Biomass is seen as a reliable source of large-scale renewable energy for Britain, needed to supplement intermittent renewable generation (such as wind and solar) and to help the UK meet its legislated renewable energy targets.
 
The project will be fuelled by wood pellets and chips from certified sustainable forestry sources in the United States and Europe, with regular audits to ensure compliance with strict sustainability criteria mandated by the Project’s CfDi. When constructed, the Project will have a significantly smaller carbon footprint than fossil fuel alternativesii.
 
The £650 million investment required for the Project will be a major boost for the economy of North-East England, and is estimated to create at least 600 jobs during construction and sustain about 100 full time jobs once operational.
 
All major permits for the Project’s construction and operation have been secured and Macquarie Capital has commenced a debt raising process; financial close is targeted for Q4 2015.
 
MGT Power is a UK independent power station developer focused on large-scale sustainable biomass projects. Its management team has experience in UK and overseas power generation projects totaling c.15 GWe. The team has a long history in biomass supply and sustainable sourcing.
 
Macquarie is partnering with MGT to bring the Project to financial close, and will be the lead equity sponsor for the Project as well as financial advisor. Macquarie has substantial experience in the alternative energy and clean technology sector with a global portfolio of investments in offshore wind, onshore wind and solar amongst other technologies.
 
Ben Elsworth, CEO of MGT Power commented “following the sanction by the European Commission of the Project’s CfD earlier this year, the involvement of Macquarie as an investor and adviser represents another major step forward in the process to finance the project with the aim of starting construction on site by early 2016 at the latest.”
 
Mark Dooley at Macquarie added “Macquarie is delighted to be partnering with MGT to bring this landmark project to fruition. As one of the first renewable energy assets to be project financed under the new UK CfD regime and the largest dedicated biomass project to be built in the UK, the project presents some challenges but also a great opportunity for the finance market. The transaction demonstrates Macquarie’s ability to support clients with advice and capital at all stages of a renewable energy project’s life.
 

 

Posted: 08/31/2015

U.S. Furniture Makers Rebound After Chinese Stock Crash

Stocks of U.S. furniture makers are now back on the rise after a dip in late August brought on by the Chinese stock crises, which has roiled global financial markets over the past month.

Photo: Herman Miller. The MI-based office furniture maker's stocks were trading around $27.27 on Monday morning, Aug. 31, up 1.15% over a 5-day period.

Overall wood furniture manufacturers appear to be somewhat of a safe haven for investors for the time being. Although the situation is highly fluid, companies that import furniture and furniture components from China could see some benefit as the U.S. dollar continues to strengthen against the Chinese yuan, making the costs of importing goods much cheaper for them.

But in the long-term diminishing consumer demand from China's domestic market could impact U.S. exports and a continuing slowdown in the Chinese economy could affect the overall confidence of U.S. consumers as well, according to some economic analysts.

China's market crash seemed to take investors by surprise, however, analysts have noted that there were warning signs in the U.S. prior to the stock market collapse primarily with the slowdown at West Coast ports. Although that situation was initially caused by logistics and labor issues, shipping never returned to its normal rate after the problems were resolved. Jock O'Connell, a trade advisor, told the Wall Street Journal, "The number of containers coming from China was continuing to grow, but beginning in 2013, fewer loads were being sent in the other direction."

Furniture maker stock prices as of Mon. morning, August 31:

Masco $26.43 (up 0.76% over 5 days)
Herman Miller $27.27 (up 1.15% over 5 days)
HNI $46.62 (up 1.35% over 5 days)
Steelcase $17.64 (up 0.94% over 5 days)
Ethan Allen $29.67 (up 0.58% over 5 days)
Bassett Furniture $29.22 (up 0.86% over 5 days)
Dorel $35.30 (up 3.46% over 5 days)
La-Z-Boy $27.80 (up 0.98% over 5 days)

Source: Google Finance - Yahoo Finance - MSN Money

Posted: 08/31/2015


CabinetMaker+FDM

Woodworking Magazine for the Professional Woodworker | Woodshop News
CMA re-elects president and other officers

Matt Krig was re-elected president of the Cabinet Makers Association, which will return its full slate of officers through 2016.

Posted: 08/26/2015

Colt and Riss prepare to serve U.S. market

Colt Tools and Riss Tools, manufacturers of boring bits and other woodworking accessories, were established as a U.S. corporation in June and now offer several new and unique patented products.

Posted: 08/26/2015


ASSOCIATION NEWS

Current News:

The Wood Machinery Manufacturers of America (WMMA) has announced the winner of its Ralph B. Baldwin Award, the association's highest honor. The award was presented to John Schultz, past president of the Association. Announcement of the award was made at the Woodworking Industry Conference (WIC), which took place at the Grand Hyatt San Antonio in San Antonio, Texas. Full information is available here.

IWF: And the Final Numbers Are...

The final numbers for IWF 2014 are in, and they're nothing short of phenomenal. The total at-show attendance (all days) was 23,463, which broke down as follows:
Attendance (General):
Verified: Advance-Registered: 7,422
Verified: On-site Registered (includes press, speakers, students): 6,915
Unspecified: 63
Total Verified Buyers: 14,400
Exhibiting Personnel: 9,063

Mark your calendar for the next IWF, August 24-27, 2016, and get ready for your own impressive numbers.

Hear what current WMMA members are saying about the valuable benefits and the many rewards of WMMA membership.

ANSI Update
A revision of the ANSI standard O1.1-1, entitled 01.1-1 (2015) Safety Requirements for Fixed Angle Jump Saws, has been published is available for purchase through the ANSI e-standard store. WMMA Members are entitled to receive one complimentary copy of the standard per company upon request. Click here if you are interested in receiving a copy of the standard.

The Cutting Edge, WMMA's monthly e-publication

Click here for the current issue.

Click here for past issues.

Press Releases

May 5, 2015
WMMA Offers Industry Resources at LIGNA

April 27, 2015
WMMA Announces New Board of Directors

April 23, 2015
WMMA Past President, John Schultz, Wins Baldwin Award

December 4, 2014
Registration Open for WIC 2015

October 24, 2014
WMMA Celebrates U.S. World Standards Day

Press Release Archive

Member News

Click here to read news about our members.