MACHINE TOOL DISTRIBUTOR REPORTS HIGH OPTIMISM IN MANUFACTURING

Dayton, OH, machine tool equipment distributor Reynolds Machinery, Inc., reported that the IMTS 2010 show in Chicago was extremely well attended and show sales were very strong. This is good news for the manufacturing sector nationwide and very good news for Ohio manufacturers who have been struggling through the last few years.

Scott Mays, president of Reynolds Machinery, noted that "Attendees at the show were more optimistic this year and they came to the show with the clear intention to buy. If you had told me earlier this year that companies would be purchasing this volume of equipment at the show, I would not have believed it. Obviously there is a renewed confidence in our economy and manufacturers are anticipating strong profits by end of year."

Reynolds Machinery reports strong sales beginning with the first quarter of 2010 and carrying into the fourth quarter. Scott Mays continued, "The increased volume of sales early this year is straining machine tool manufacturers' ability to keep up and make timely deliveries. We are seeing delays now and these delays are only going to get worse. Companies who wait until mid-fourth quarter to make their equipment purchases may not get equipment delivery within the fiscal year. That's a real problem for those companies who have enjoyed good profits and need to depreciate new equipment purchases to reduce taxable revenue. The sooner these companies make their new equipment purchases the more likely they are to receive delivery before end of this fiscal year."

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www.reynoldsmachinery.com