On Dec. 3, the Wire & Cable Manufacturers Alliance (WCMA), hosted its first Virtual Presentation and Annual Meeting, with the below wrapup provided by Executive Director Ed Fenton.
The event included a presentation by John Traynor, executive vice president and chief investment officer, Peoples Bank Wealth Management. A frequent WCMA speaker, he returned to cover key economic, political, and manufacturing topics that will impact the industry during 2021. That included expectations for business growth drivers and what to expect from Washington and from the private equity community. He confirmed what WCMA has reported during the Covid-19 crisis: manufacturing segments, other than the significantly impacted oil/gas and commercial aerospace industries, will finish the year somewhat better than expected. That should be followed by a healthy recovery over the next year, or two, assuming vaccines are in place and effective.
Two individual management presentations were also made. “Cycles in Metal Market Prices,” by John Gross, JE Gross Consulting/The Copper Journal, and “Simplifying Supply Chains: More Important Now Than Ever,” by Mike Kelley, Kelley Productivity Partners. WCMA will schedule a specific follow up by Kelley during Q1 2021 for more details about his topic.
Participants who were able to take part in the virtual event considered the content valuable for their 2021 planning. WCMA has lost revenue dues to events not being able to be held, but dues from members has made it possible for the organization to continue to send charity donations to Toys for Tots and UCONN Health Center Cancer research, as well as scholarship donations to WAI’s Wire Foundation, IWCS and the Copper Club.
WCMA welcomed four new members: Encore Wire, Electrolock, Trans Cable Internatoional, and Quantum Design. The WCMA’s board of directors also approved an extension of Director and Officer terms through 2021 because of the pandemic.
Finally, WCMA is still hoping to be able to hold its Distinguished Career Awards dinner on April 17, and its Annual Golf Outing and Fundraiser (date TBD). Visit www.wcmainc.org, where details will be provided as soon as they become available.