economy

Universal Robots and Mobile Industrial Robots open collaborative automation center in Spain

Two of the most well-known robotics companies have jointly opened a collaborative automation center in Barcelona, Spain.

Universal Robots, the maker of the best-selling collaborative robotic arms, and Mobile Industrial Robots, which makes mobile robots for warehouses, say the new facility will help promote collaborative automation in southern Europe.

Described as “the first worldwide hub focusing on collaborative robotics”, the center is located in 22@ district of Barcelona. [Read more…] about Universal Robots and Mobile Industrial Robots open collaborative automation center in Spain

US manufacturing output reaches ‘all-time high’

Manufacturing output in the US has reached an “all-time high”, signaling the industry’s strength, according to the National Association of Manufacturers.

For the past two years, manufacturers have been setting new records when it comes to manufacturing output, and through the first quarter of 2019, the industry has continued to reach new heights.

Four out of five manufacturers remain positive about their company’s outlook, according to the National Association of Manufacturers’ latest Outlook Survey, and new Bureau of Economic Analysis data find that manufacturers’ level of output hit an all-time high once again. [Read more…] about US manufacturing output reaches ‘all-time high’

Magna celebrates growing footprint in China with two grand opening events

Magna held two grand opening ceremonies last month in China, for new factories in Changsha and Shanghai.

The new plant in Changsha, a joint venture with GAC subsidiary GAC Component Co., Ltd. (GAC Component), began production of composite liftgates for a global automaker’s crossover vehicle in late 2018.

Last month, Magna’s plant in Shanghai started production on active aerodynamic grille shutters for an American brand producing multiple vehicle platforms for the China market.

[Read more…]

US manufacturing faces possible pitfalls and severe declines, says report

U.S.-manufacturing flags — Picture credit: LeHighValley.com via GlobalTradeMag.com

The US manufacturing sector faces numerous possible pitfalls and some risk of severe declines, according to a new report by Creditsafe USA.

The in-depth analysis of the US manufacturing industry says that, despite recent overall consistent performance, there are “several areas of concern” across the entire sector. In particular, the rate of bankruptcy signaling the possibility of an industry slowdown.

With the manufacturing industry being the largest area of employment in the US, any decline could have a “catastrophic effect” on the overall US economy, says Creditsafe. [Read more…] about US manufacturing faces possible pitfalls and severe declines, says report

Finding a third way forward for China’s economy

By Edward Tse, CEO of Gao Feng

China’s fast economic growth, its gradual but consistent transition from a planned economy toward a market economy, the emergence of highly intensive competition in the open sectors, the increasing prevalence of technology and the availability of angel investing and venture capital funds all contributed to the emergence of waves of entrepreneurship and innovation in China that the country had not seen before.

In their search for growth strategies, these Chinese entrepreneurs were typically fast and agile. Some of them developed diversified conglomerates, and there were others that decided on a narrow focus, taking the core competence approach.

The results have been mixed. Interestingly, some of them, through trial and error, discovered a third way of strategy development. We call it “multiple jumping”. [Read more…] about Finding a third way forward for China’s economy

Siemens to invest $133 million in Canadian operations

siemens and seneca college canada — Last year, Seneca College and Siemens Canada opened what they said was Ontario’s first Mechatronics Simulation and Demonstration Centre

Siemens plans to invest $110.6 million in research and development activities at its plant in Dorval, Canada to design and make improvements to aero-derivative gas turbines.

These turbines are used for, among other things, the production of electricity, and serve as a backup source in the event that the existing network is unable to meet the demand.

The engineering company also plans to invest $22 million to launch a platform of expertise related to Industry 4.0 and the implementation of a training system integrated into the workplace. [Read more…] about Siemens to invest $133 million in Canadian operations

Obama warns of divisiveness of automation technology

In his farewell address to the nation, US President Barack Obama warned of the dangers of automation technology.

Obama said: “The next wave of economic dislocations won’t come from overseas. It will come from the relentless pace of automation that makes a lot of good, middle-class jobs obsolete.”

The Obama administration has been looking the whole issue of robotics, automation and artificial intelligence, and consulting on the possible impact of those technologies on the US economy. [Read more…] about Obama warns of divisiveness of automation technology

‘Believe it or not, automation may bring jobs back to the US’

One of the major concerns among blue collar workers is the fear that robotic automation will take jobs that are sorely needed by the average working Joe who simply wants to provide for his or her family.

While it is understandable to think this way since automation can do the work in less time and with more efficiency, it may not necessarily be true that automation is going to replace human jobs.

A study emanating from the UK’s prestigious Oxford University indicates that automation may actually be a very good thing in that it will not only bring factories back home, but it will stimulate the economy, creating more jobs in the process. [Read more…] about ‘Believe it or not, automation may bring jobs back to the US’