Dear MAAG Americas Team:
We have finished the first quarter with good results in March, but unable to catch-up the gap from January and February. Bookings came in on target for the month (with some good projects for HMA) and we are hoping that this trend will continue. However, the recent announcement and implementation on tariffs between the US and almost every other country does add to the uncertainty we have seen since the beginning of the year. Our business heavily depends on imports from Europe where we are now facing higher import costs that need to be passed on to customers in the US thus making our equipment more expensive. At the same time, we export considerable amounts of equipment (i.e., dryers out of Eagle Rock) to China and other countries which have also implemented their own tariffs on US products, making our equipment less competitive in those markets as well. All we can do at this moment is to focus on our operational performance, making sure that customers receive their orders on time and with the quality that they expect. To stay competitive, we will also continue initiatives to make our equipment less expensive and more streamlined for manufacturing. This is where 0Dover and many of the other initiatives come in. Times are uncertain yet if each of us focuses on improvements that are under our control, I am sure that we will come out of this stronger than we were! -Paul Merich
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