Home News & Events Is the Economic Future Bright for North America?

Is the Economic Future Bright for North America?

Jan. 27, 2015

We are often asked by our clients and distributors alike, what do you think we can expect during the New Year in the way of business growth from our welding and cutting customers? 

 
Bug-O Systems has no different crystal ball than anyone else, however I can tell you what we see, hear and read. We all know that gasoline prices at the pump are less than half of what they were historically. Consumers love that they can fill their vehicles for half of what they once did and so they find that they now have extra money to spend on their families. What is good on one hand may not be on the other hand. Oil prices have dipped down below the $50 per barrel price, yet API (American Petroleum Institute) has printed articles stating that “2015 will be the largest oil production year in history since 1972.” So what does this all mean? We are told that the requests for new oil exploration permits overall is down in North America. However, that does not have anything to do with refineries producing more refined oil so perhaps API prediction is correct. In Canada we see reports of new field storage tank construction to be the highest in many years.
 
What I can tell you for sure is that Bug-O Systems is committed to continuing to invest in America by continuing to manufacture our products in America. During 2014 we expanded our facilities in Canonsburg, PA and during 2015 we have plans to introduce new products to expand our Cypress Line of Circle Machines which will include digital controls and launch a new GOFER IV, just to name a few.
 
However, when it comes to great companies and products, we realize people make the difference. Therefore, we are expanding upon a training program previously only offered at the company’s headquarters; Bug-O University. The company will now host regional training programs throughout North America. Training is a huge commitment and investment, and so we feel that it needs to be one of our key 2015 priorities. We want to make our educational programs like cost reduction and increased productivity available to all of our customers; therefore, we are expanding our training programs by taking them on the road to a region near you. One and two day programs will be offered throughout North America to better train our Distributors and their clients on how Bug-O Products can help them be more competitive in this challenging and ever changing environment.
 

Economically what will happen during 2015 is never a sure thing. What is sure is that Bug-O Systems is committed to growing our business through education to both distributors and end-users to ensure that they know the depth and complete breadth of our product line. We want them to realize a true value proposition difference that they see to their bottom line. We are committed to building partnerships that are mutually beneficial for a bright future.


 
Norm Sted – Director - Domestic Sales and Marketing
email: nsted@weld.com