Assago, February 5, 2002

THE WOODWORKING MACHINERY INDUSTRY IS STILL WAITING WITH AN EYE TO INTERNATIONAL POLICY :

The final quarter of 2002 was unfortunately closed with little news for Italian woodworking machinery. According to the quarterly analysis by the Studies and Promotion Office of Acimall – the Italian woodworking machinery and tools manufacturers’ association – the situation is still stagnant.

The figures – based on a statistic sample that represents the whole industry in terms of company size and production categories – actually justify some satisfaction, as they indicate a total order rally by 10.8% as compared to the same period of last year. This is mainly due to foreign orders, which represent 70% of the total and went up by 12.2%, while the Italian market benefited from 7.4% increase.
However, we must say these are “misleading” figures, as the corresponding quarter of 2001 recorded very low levels, owing to the “shock” of the September 11 tragedy.

Also, these figures cannot be compared with Q3 2002, as data from that period are not seasonally adjusted, and so, the only “benchmark” is the second quarter of last year: as compared to Q2 2002, the 2002 October-December term recorded 5% dropping orders.

As for prices in 2002 they increase by 2% on average, while the orders book seems to have shortened from the previous quarter, down to approximately 2.5 months.

The quality survey for the quarter under scrutiny confirms the overall trend: 47% of companies indicate stationary production trends, 29% declare it is growing and 24% falling. Stocks are unchanged according to 50%, decreasing for 35% and increasing for 15%. Employment is stable according to 71% of the sample, while 3% say it is growing and 26% falling.

The forecast survey was more fragmented, with great differences according to geographical areas: foreign markets – which substantially contribute to the total turnover of the Italian companies in our industry, amounting to some 2 billion € annually – should expand according to 18% of the interviewees or be stable according to 71%, while 11% expect a shrinkage (positive balance +7).

As for the Italian market, expectations for the next quarter indicate stability for 68%, growth for 12% and decline for 20% (negative balance -8).

“Looking at the figures – said Luciano Costa, Acimall President – we have gone through another quarter characterized by market stagnation, a widespread “waiting” attitude that has been going on for a long time, for the reasons we all know. The positive figures emerging from the survey of our Studies and Promotion Office, as already said, should not deceive us. Unfortunately, we must say that, once again, the weak symptoms recorded in mid-2002 - which suggested market stabilization, if not real recovery - were not confirmed.

For sure, uncertainty and worries for global policy – Costa continued – are affecting the economy, and mainly the investments in instrumental goods. The markets are all characterized by negative signals, except for Russia, which seems to continue its expansion, although with some difficulty.

Although the situation is critical, our association is willing to continue its activity. For 2003, we have scheduled an extensive promotion program to support our companies, and we will renew our commitment to new training projects in markets where we expect great satisfaction; this includes the creation of a training center in India, in cooperation with ICE, the Italian Foreign Trade Institute, to be opened up officially next March 12”.

For more information :
Luca Rossetti
phone +39 02 89210200 – rossetti@acimall.com

Order index (not seasonally adjusted)
Constant prices: basis 1989 (avg.) = 100