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Machinery Parts Manufacturer’s Success Story

When a machinery parts manufacturer faced steep declines in sales and rising foreign competition, they turned to MATAAC for help. What followed was a powerful turnaround, fueled by strategic planning, federal funding, and expert support through the TAAF program.

Challenges

When this Machinery Parts Manufacturer  sought the assistance from MATAAC, their eligibility to participate in the TAAF program was established based upon:

  • During a 12 month period, overall sales decreased by 15.98% and,
  • The firm experienced a 20.00% decline in employment.

MATAAC prepared their Petition and submitted it to EDA for Certification.Petition Certification as Trade Impacted Manufacturer was approved.

Solutions

With Petition Certification, MATAAC was able to prepare this Machinery Parts Manufacturer Business Recovery Plan. 

After working in partnership with the client-firm’s management team, a complete diagnostic review, SWOT analysis, and other key business improvement strategies were reviewed and a Business Recovery Plan was developed. 

Technical assistance was requested and approved for Manufacturing Productivity Upgrades, Financial, MIS, Marketing and Sales System Improvements. The client-firm received $95,000 for project implementation. MATAAC cost-shared $47,500 in federal funds in the implementation of identified improvement projects. Specific projects included but were not limited to:

  • Strategic Planning
  • Web Based Marketing
  • Plant Management projects

Success Story

One year after completion of the TAAF Program with MATAAC’s assistance, this Machinery Parts Manufacturer experienced the following improved performance metrics:

  • Sales increased by over $736 thousand  dollars (25.35% Increase in sales)
  • Increased employment by 5 production positions (20.83% increase in employment)

Technical assistance was requested and approved for Manufacturing Productivity Upgrades, Financial, MIS, Marketing and Sales System Improvements. The client-firm received $95,000 for project implementation. MATAAC cost-shared $47,500 in federal funds in the implementation of identified improvement projects. Specific projects included but were not limited to: Strategic Planning, Web Based Marketing, and Plant Management projects.

How MATAAC Serves Mid-Atlantic Manufacturers

This exciting success story is just one of many examples of how a company successfully recovered and thrived through MATAAC’s expertise and funding support through the TAAF program.

For over five decades, MATAAC (MidAtlantic Trade Adjustment Assistance Center) has helped manufacturers tackle trade challenges, regain competitiveness, and boost profitability. MATAAC provides solutions to manufacturers located in Delaware, Maryland, Pennsylvania, Virginia, West Virginia, and Washington D.C. MATAAC has been chartered by the Economic Development Administration of the U.S. Department of Commerce with responsibility for the management of Trade Adjustment Assistance for Firms (TAAF) program. The TAAF program is a crucial resource that supports businesses in navigating global market shifts. With TAAF resources, MATAAC was able to help this manufacturer overcome trade challenges.