October 27, 2009
Dear Customer:
The economic downturn in 2009 has had a damaging effect in the stamping
industry. Many stampers have filed for bankruptcy or simply closed their doors.
Others have to renegotiate debt or look for other means of credit. The
accounting firm of Plante & Moran who monitors this industry is forecasting
continued supplier bankruptcies. In the November 3, 2009 Washington Wire
newsletter (a newsletter from Washington on the state of the metalworking
industry) it was reported that almost 50% of metalworking companies have
serious problems accessing credit for their day to day operations. Furthermore,
close to 700/0 of these companies have problems trying to access credit for
capital investments. This leaves the OEM vulnerable for part shortages, line
shutdowns, and missed delivery schedules. If a supplier goes out of business or
files for bankruptcy it is probably too late to move tooling into another facility,
secure material, and process parts without some interruption of production lines.
As an OEM do you know how solvent your stamping supply base is?
Do you know how close you may be to a potential line shutdown?
HK Metalcraft is debt free, has cash reserves, and unused lines of credit that will
let us respond rapidly to customer needs. In the past few months HK has had
numerous jobs moved into our facility due to the insolvency of stamping
suppliers. The management of HK feels now is the time to seriously consider us
for your stamping requirements.
HK is an ISO and TS approved precision stamping company in business for over
80 years. We specialize in spring washers, shallow drawn parts, custom
stampings and simple assemblies. Our website is www.hkmetalcraft.com.
Please never hesitate to contact us, as we are here to help you, our phone
number is
973-471-7770.
Respectfully yours,
HK Metalcraft
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