layoffs loom as credit dries uplayoffs loom as credit dries uplayoffs loom as credit dries up

(Jan 17, 2009)
In last October, Edson Packaging machinery was on the cusp of a massive expansion.
Rob Hattin imagine 30,000
The \"automation technology center\" covers an area of square feet and employs 50 highly skilled workers to design robotic packaging equipment.
When the economy collapsed in the fall, so did the growth plans of manufacturers such as Edson.
Harding, president of Hamilton company, said: \"We still have a week to leave the shovel on the ground. At that time, some of our businesses were going to the south . \"based firm.
\"Are you sitting here and saying I\'m willing to bet $5 million?
It\'s not much for some, but for me it\'s my life.
\"While Edson is looking for new plans to increase sales and enter new markets, not all manufacturers are doing so well.
Canadian manufacturers and exporters have called on Ottawa to provide temporary loan guarantees and credit lines to prevent layoffs and allow the company to continue operating.
Even in the height of retreat
Last year, the curse of many manufacturers, flight Looney, did not make up for the challenges faced by the factory.
Canadian manufacturing sales fell for three consecutive months as of October.
Statistics Canada\'s data for November, which will be released on Tuesday, is expected to be \"from bad to bad,\" said Aron Gampel, deputy chief economist at Scotia Capital.
He added that the United States, with over 2009 of Ontario\'s exports and manufactured goods, would be a unique transition year for manufacturers.
\"Americans will spend less and save more, which will have a huge impact on some of our industries.
Gampel believes that as factories adjust to survive, it is possible to cut jobs, merge and readjust exports to markets outside the United States.
At the same time, manufacturers are seeking the federal budget as a lifeline in the current economic storm.
Most importantly, many companies rely on access to credit lines to cover their day-to-day operating expenses.
In a survey released by Bank of Canada this week, record companies reported tighter credit conditions.
Although Hamilton\'s Sobotec did not encounter a credit problem, the bank has recovered funds from some smaller customers.
\"They have to be paid before they pay us,\" said Vladimir Sobot, president of aluminum siding . \".
\"The biggest problem at the moment is downstream credit.
\"Jayson Myers, president of Canadian Manufacturers and Exporters, wants the government to use its borrowing capacity to set up funds for companies that cannot get credit.
\"This will be a key issue for next year,\" he said . \"
\"You won\'t do business if you don\'t have credit.
\"With the support of the Canadian Steel Producers Association, the Myers Group is also seeking investment in public infrastructure and encouraging businesses to invest in new technologies.
The steel association, led by Juergen Schachler, CEO of ancelormittal dofazko, said tax credits were necessary to encourage such investments.
The steel maker said in a press release that the move would \"help position the Canadian industry as a more competitive industry in the future, while providing immediate benefits and maintaining employment and income . \".
Most of Sobotec\'s aluminum siding is used for the construction of institutional buildings and is one of many companies that want to inject a lot of government money into infrastructure projects on both sides of the border.
Like Harding, Sobot shelved the expansion plan when the economy deteriorated.
\"Now we are happy to keep the status quo,\" he said . \"
\"We would be happy if we could protect our resources and our employees in this climate.
\"Npowell @ thespec. com905-526-4620(Jan 17, 2009)
In last October, Edson Packaging machinery was on the cusp of a massive expansion.
Rob Hattin imagine 30,000
The \"automation technology center\" covers an area of square feet and employs 50 highly skilled workers to design robotic packaging equipment.
When the economy collapsed in the fall, so did the growth plans of manufacturers such as Edson.
Harding, president of Hamilton company, said: \"We still have a week to leave the shovel on the ground. At that time, some of our businesses were going to the south . \"based firm.
\"Are you sitting here and saying I\'m willing to bet $5 million?
It\'s not much for some, but for me it\'s my life.
\"While Edson is looking for new plans to increase sales and enter new markets, not all manufacturers are doing so well.
Canadian manufacturers and exporters have called on Ottawa to provide temporary loan guarantees and credit lines to prevent layoffs and allow the company to continue operating.
Even in the height of retreat
Last year, the curse of many manufacturers, flight Looney, did not make up for the challenges faced by the factory.
Canadian manufacturing sales fell for three consecutive months as of October.
Statistics Canada\'s data for November, which will be released on Tuesday, is expected to be \"from bad to bad,\" said Aron Gampel, deputy chief economist at Scotia Capital.
He added that the United States, with over 2009 of Ontario\'s exports and manufactured goods, would be a unique transition year for manufacturers.
\"Americans will spend less and save more, which will have a huge impact on some of our industries.
Gampel believes that as factories adjust to survive, it is possible to cut jobs, merge and readjust exports to markets outside the United States.
At the same time, manufacturers are seeking the federal budget as a lifeline in the current economic storm.
Most importantly, many companies rely on access to credit lines to cover their day-to-day operating expenses.
In a survey released by Bank of Canada this week, record companies reported tighter credit conditions.
Although Hamilton\'s Sobotec did not encounter a credit problem, the bank has recovered funds from some smaller customers.
\"They have to be paid before they pay us,\" said Vladimir Sobot, president of aluminum siding . \".
\"The biggest problem at the moment is downstream credit.
\"Jayson Myers, president of Canadian Manufacturers and Exporters, wants the government to use its borrowing capacity to set up funds for companies that cannot get credit.
\"This will be a key issue for next year,\" he said . \"
\"You won\'t do business if you don\'t have credit.
\"With the support of the Canadian Steel Producers Association, the Myers Group is also seeking investment in public infrastructure and encouraging businesses to invest in new technologies.
The steel association, led by Juergen Schachler, CEO of ancelormittal dofazko, said tax credits were necessary to encourage such investments.
The steel maker said in a press release that the move would \"help position the Canadian industry as a more competitive industry in the future, while providing immediate benefits and maintaining employment and income . \".
Most of Sobotec\'s aluminum siding is used for the construction of institutional buildings and is one of many companies that want to inject a lot of government money into infrastructure projects on both sides of the border.
Like Harding, Sobot shelved the expansion plan when the economy deteriorated.
\"Now we are happy to keep the status quo,\" he said . \"
\"We would be happy if we could protect our resources and our employees in this climate.
\"Npowell @ thespec. com905-526-4620(Jan 17, 2009)
In last October, Edson Packaging machinery was on the cusp of a massive expansion.
Rob Hattin imagine 30,000
The \"automation technology center\" covers an area of square feet and employs 50 highly skilled workers to design robotic packaging equipment.
When the economy collapsed in the fall, so did the growth plans of manufacturers such as Edson.
Harding, president of Hamilton company, said: \"We still have a week to leave the shovel on the ground. At that time, some of our businesses were going to the south . \"based firm.
\"Are you sitting here and saying I\'m willing to bet $5 million?
It\'s not much for some, but for me it\'s my life.
\"While Edson is looking for new plans to increase sales and enter new markets, not all manufacturers are doing so well.
Canadian manufacturers and exporters have called on Ottawa to provide temporary loan guarantees and credit lines to prevent layoffs and allow the company to continue operating.
Even in the height of retreat
Last year, the curse of many manufacturers, flight Looney, did not make up for the challenges faced by the factory.
Canadian manufacturing sales fell for three consecutive months as of October.
Statistics Canada\'s data for November, which will be released on Tuesday, is expected to be \"from bad to bad,\" said Aron Gampel, deputy chief economist at Scotia Capital.
He added that the United States, with over 2009 of Ontario\'s exports and manufactured goods, would be a unique transition year for manufacturers.
\"Americans will spend less and save more, which will have a huge impact on some of our industries.
Gampel believes that as factories adjust to survive, it is possible to cut jobs, merge and readjust exports to markets outside the United States.
At the same time, manufacturers are seeking the federal budget as a lifeline in the current economic storm.
Most importantly, many companies rely on access to credit lines to cover their day-to-day operating expenses.
In a survey released by Bank of Canada this week, record companies reported tighter credit conditions.
Although Hamilton\'s Sobotec did not encounter a credit problem, the bank has recovered funds from some smaller customers.
\"They have to be paid before they pay us,\" said Vladimir Sobot, president of aluminum siding . \".
\"The biggest problem at the moment is downstream credit.
\"Jayson Myers, president of Canadian Manufacturers and Exporters, wants the government to use its borrowing capacity to set up funds for companies that cannot get credit.
\"This will be a key issue for next year,\" he said . \"
\"You won\'t do business if you don\'t have credit.
\"With the support of the Canadian Steel Producers Association, the Myers Group is also seeking investment in public infrastructure and encouraging businesses to invest in new technologies.
The steel association, led by Juergen Schachler, CEO of ancelormittal dofazko, said tax credits were necessary to encourage such investments.
The steel maker said in a press release that the move would \"help position the Canadian industry as a more competitive industry in the future, while providing immediate benefits and maintaining employment and income . \".
Most of Sobotec\'s aluminum siding is used for the construction of institutional buildings and is one of many companies that want to inject a lot of government money into infrastructure projects on both sides of the border.
Like Harding, Sobot shelved the expansion plan when the economy deteriorated.
\"Now we are happy to keep the status quo,\" he said . \"
\"We would be happy if we could protect our resources and our employees in this climate.
\"Npowell @ thespec. com905-526-