According to MTA's forecast, the demand for machine tools in the UK will drop by 5% in 2008, 14% in 2009, and 10% in 2010 (the above figures are compared with 2007). According to historical standards, this situation is a relatively mild recession. The MTA identified certain favorable factors when making predictions, such as lower interest rates, weaker pounds (many buyers of British machine tools are exporters who will benefit from the weakness of the pound) and good orders (these orders will Helps maintain a good sales level in the short term).
Of course, there are also many unfavorable factors, such as the UK economy is declining, and perhaps more importantly, in some key machine tool exporting countries, the automotive industry is falling sharply (although the latest data on CBI's investment intentions in the automotive industry is actually quite positive). ), and many smaller companies face serious funding problems.
The MTA's recently released forecast report describes the prospects for the global economy in the coming years. It is hard to avoid a recession, but it is unclear how long it will last and how much impact it may have.
In the UK, the economic downturn was caused by sluggish consumption. As oil prices and food prices rose, and the decline in house prices and stock values ​​caused wealth to shrink, consumers began to increase their savings and drastically cut consumer spending. The results of the “MTA Quarterly Trends Survey†in the third quarter of 2008 also supported the view that the economic downturn began this summer, when consumer confidence fell sharply and orders shrank.
Moff's statistician Geoff Noon pointed out, "Our trend survey results reflect the impact of problems in the broader economy over the past few months on the machine tool industry. However, machine tool orders continued to grow until mid-2008. Our forecast of machine tool demand (it is based on machine delivery rather than order quantity) should be able to keep up to the new year. After the new year, the demand for machine tools in the UK will inevitably decline. However, various factors show that manufacturing technology This decline in the industry is only at a medium level. The only problem with this prediction is that past history has shown that risks will be further concentrated during the recession."
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Sigma Elevator Company is a subsidiary of Otis Elevator Korea (OEK) in South Korea for all overseas/export markets. It was founded in 2000.
Starting in 1968, "Goldstar" elevators, and later on, "LG" elevators, were counted among the world's top elevator brands. With the beginning of this new millennium, that legacy lives on through the birth of "SIGMA" elevators.
SIGMA Elevator Company will continue on with its mission of supplying elevators and escalators to more than 50 nations worldwide through its global network of 11 sales companies, 2 offices, and 52 agents or distributors.
SIGMA Elevator Company is dedicated to providing its customers with the best quality products and services. SIGMA elevators feature unmatched safety, ride comfort, and modern design. SIGMA escalators and moving walkways are held to similar safety and comfort standards and are integral parts of our modern urban aesthetics.
Changwon factory, Korea, the main factory of SIGMA Elevator, has long been a well-established name in the global elevator industry. SIGMA`s Dalian factory in China produces elevators & escalators to meet the demands of the local and worldwide markets as well.
SIGMA Elevator Company is committed to increasing customer value through a sharp focus on product innovation and customer satisfaction. With technology developed over the past 30 years, an enduring innovative spirit, and enthusiastic attitude towards providing customer value, Sigma Elevator Company stands by its product and service lines with confidence.
Sigma currently has businesses in more than 75 countries worldwide, and subsidiaries in five countries; Hong Kong (China), Vietnam, Thailand, Malaysia and Singapore.
In the United States, Sigma elevators were distributed by CemcoLift, which was a historic elevator company bought by Otis and based in Hatfield, PA. However, in 2012 CemcoLift has gone bankrupt and replaced by a new company called Minnesota Elevator Solutions.
It's headquarter, factory and testing tower are located in Changwon, South Korea, which are also operated by Otis Elevator Korea. It also has a secondary factory in Dalian, China, opened in 1998 to meet demands on Chinese elevator market.
In 2014, Sigma had a partnership with EXPRESS Elevator Co., Ltd., an elevator company based in Suzhou, China as well as a subsidiary of Otis. In 2016, Express/Sigma opened their headquarters in Suzhou, China
LG Elevators was the elevator and escalator division of LG Electronics. It was acquired by Otis in 1999 and was later known as LG-OTIS Elevator Company.
LG changed its name from GoldStar in 1994 after GoldStar merged with Lucky Chemical. In 1999, it was acquired by Otis Elevator Company, later known as LG-OTIS Elevator Company from 2000 until 2003, when it was renamed to OTIS-LG Elevator Company. Later in 2006, OTIS-LG was again renamed to Otis Elevator Korea.
LG-OTIS Elevator Company (later OTIS-LG Elevator Company then Otis Elevator Korea) was a joint venture company between Otis and LG Electronics` elevator and escalator division, LG Elevators in South Korea. It was formed in 2000. The brand was renamed to OTIS-LG Elevator Company in 2003 and later Otis Elevator Korea in 2006, where it is currently known as that in South Korea
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