All 17 of the machinery categories that PMMI tracks in its annual review experienced growth in 2004.
Canadian packaging machinery shipments grew 8.4% in 2004 to an estimated C$420.6 million (US$323.7 million).
“With growth across the board, clearly 2004 was a year that consumer goods companies focused on capital equipment as a means to achieve operational efficiencies and increase productivity,” says Charles D. Yuska, president of PMMI. “In 11 years of tracking machinery shipments, PMMI has never seen such as strong pattern of growth across all segments and for both U.S. and Canadian markets. What is also different with the 2004 shipments is the balanced growth across domestic consumption, exports, and imports.”
Some factors contributing to the increased spending levels included:
*Sustained U.S. and Canadian economic growth and renewed customer confidence
*Large order backlog on the books at the end of 2003
*The U.S. Investment Tax Credit
*Continued high level of machinery replacement activity
*Resurgence of strength in the food and beverage products markets
